[ANN] [XCH] ★ ClearingHouse - Freedom by Blockchain ★

[BTHECREATOR]

ClearingHouse is Here!

Today we unveil stage one of the ClearingHouse project as promised which enables decentralized, p2p trading directly on the blockchain. You can create your own coins and assets and it enables a host of features to be built on top of the blockchain.

ClearingHouse is based on on the counterparty protocol with the immediate advantages of being faster, cheaper and free of bitcoin politics.

XCH is the native currency of ClearingHouse and cannot be mined. XCH will be initialized during a 45 day "Fire Sale" starting today at block 89100 see http://explorer.viacoin.org. This initialization process is called "burning", but since viacoins are new and shiny, we decided not to actually burn them, but use them towards funding the ClearingHouse project looking forward.

The exchange rate will be 100 XCH for 1 VIA and reducing slowly over the 45 day period until you get 85 XCH for 1 VIA.

XCH can only be initialized using viacoins and burn process must be done using https://clearwallet.co/

XCH as well as any other assets created under ClearingHouse are controlled by your viacoin private keys.

We suggest you familiarise yourself with the process using Testnet at https://testnet.clearwallet.co/

All the usual caveats apply: blockchain technologies, including bitcoin are still experimental and navigating uncharted territory, so please be sensible.

You can watch the burn address here: http://explorer.viacoin.org/address/Via2XCHoqQxACVuXf4vrajVDJetwVgxLMz

This is quite brilliant, really. Create a vehicle to use to buy back more VIA so you can regain control of your coin and pump it again.

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[PhilippeStevens]

Do we have to stay online for our actions to process ?

[JoeRigs]

OK, I obviously don't understand something here...

I saw at Clearwallet that I had the ability to "send" my recently acquired XCH to my VIA wallet. ...So, I sent 500 XCH to see what happened.

I guess I expected to see a separate entry in the wallet showing 500 XCH. Instead, the wallet converted the 500 XCH to just .0012 VIAcoin.

I certainly didn't expect this "send" feature to reduce the 5 VIAcoin worth of XCH (5 via = 500 XCH) down to .0012 VIAcoin. Pretty glad I didn't send ALL of my XCH to my wallet. (A 99.98% devaluation is pretty harsh.)

[masternode]

OK, I obviously don't understand something here...

I saw at Clearwallet that I had the ability to "send" my recently acquired XCH to my VIA wallet. ...So, I sent 500 XCH to see what happened.

I guess I expected to see a separate entry in the wallet showing 500 XCH. Instead, the wallet converted the 500 XCH to just .0012 VIAcoin.

I certainly didn't expect this "send" feature to reduce the 5 VIAcoin worth of XCH (5 via = 500 XCH) down to .0012 VIAcoin. Pretty glad I didn't send ALL of my XCH to my wallet. (A 99.98% devaluation is pretty harsh.)

Btcdrak is likely asleep right now.  He should be able to answer this soon.

[qqNxt]

from what I understand is that the "burn" process of via is reversible?

and this burn period is open forever? even after 45day initializing period, you'll still get a fixed rate of 85xch per 1via.

or is this like xcp where once the burning is done its done, no more will be created?

[btcdrak]

OK, I obviously don't understand something here...

I saw at Clearwallet that I had the ability to "send" my recently acquired XCH to my VIA wallet. ...So, I sent 500 XCH to see what happened.

I guess I expected to see a separate entry in the wallet showing 500 XCH. Instead, the wallet converted the 500 XCH to just .0012 VIAcoin.

I certainly didn't expect this "send" feature to reduce the 5 VIAcoin worth of XCH (5 via = 500 XCH) down to .0012 VIAcoin. Pretty glad I didn't send ALL of my XCH to my wallet. (A 99.98% devaluation is pretty harsh.)

Heh, I can see this is going to be a common question

ClearingHouse records transactional information using the viacoin blockchain. To send XCH from Alice to Bob means sending a small amount of Viacoin to addresses. Those transactions have the metadata in them. This means ClearingHouse can then go back over the blockchain and extract the data from the blockchain.

Does that make sense? When you send XCH the XCH control moves from your address to the destination address. No XCH is reduced, you only pay a tiny *viacoin* fee for making the transaction (just as you would for a normal viacoin transaction).

[btcdrak]

from what I understand is that the "burn" process of via is reversible?

and this burn period is open forever? even after 45day initializing period, you'll still get a fixed rate of 85xch per 1via.

or is this like xcp where once the burning is done its done, no more will be created?

The process is irreversible. After 45 days that's it, the XCH supply is fixed.

[JoeRigs]

ClearingHouse records transactional information using the viacoin blockchain. To send XCH from Alice to Bob means sending a small amount of Viacoin to addresses. Those transactions have the metadata in them. This means ClearingHouse can then go back over the blockchain and extract the data from the blockchain.

Does that make sense? When you send XCH the XCH control moves from your address to the destination address. No XCH is reduced, you only pay a tiny *viacoin* fee for making the transaction (just as you would for a normal viacoin transaction).

Are you saying that I can convert the 500 XCH that is now represented as .0012 VIAcoin in my wallet back into 500 XCH (minus the small VIA fee) by sending it from my VIAcoin wallet back to ClearWallet?

If this is correct, is there any special procedure? (Or would I just send .0012 VIAcoin to my ClearWallet address?)

[qqNxt]

Create XCH by "burning" your VIA. Please note that you can only burn up to 20000 VIA total for any given address.[/b]

so what happens to this guy here. does he get a refund or is his extra burns lost?
VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ[/b]]http://explorer.viacoin.org/address/VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ

ca7ef7e50a5cd0b2b5bb298fd5c6c3799bed8820a4bc56c219f5f924dff4fa11

VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ
50 VIA (U)
Via2XCHoqQxACVuXf4vrajVDJetwVgxLMz
14949.998 VIA (S)
VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ

53c901919ddedf32ab3383872d2249bef71318b5ca07e40edca54fc803bae977

mined at Aug 12, 2014 7:02:45 AM
14949.998 VIA
VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ
500 VIA (U)
Via2XCHoqQxACVuXf4vrajVDJetwVgxLMz
14449.997 VIA (S)
VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ

0636b1b2944185bf4dc7b5f408fe57162b53f2151d51b4347f4cac449a3a4819

mined at Aug 12, 2014 7:03:05 AM
14449.997 VIA
VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ
5000 VIA (U)
Via2XCHoqQxACVuXf4vrajVDJetwVgxLMz
9449.996 VIA (S)
VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ

9489a9733e71db2711fbed568087354b1de55c07ae201d8190ff91ae96919047

mined at Aug 12, 2014 7:03:33 AM
9449.996 VIA
VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ
9000 VIA (U)
Via2XCHoqQxACVuXf4vrajVDJetwVgxLMz
449.995 VIA (S)
VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ

a1fdc8f50bf7b537e0ff5966df8eb019b4a0f9fbeb574adfc070a8af136e8115

mined at Aug 12, 2014 7:04:10 AM
449.995 VIA
VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ
449 VIA (U)
Via2XCHoqQxACVuXf4vrajVDJetwVgxLMz
0.994 VIA (S)
VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ

****It looks like he sent all of his viacoin to burn. looks like he tried to separate his coins in different addresses and also burned them.
****what should be done for his actions?

sample tx.

6d88726698cf2ef22ca2029f7bdf184a585c94db0e4bc8b1ae74ee5013b6fc55

mined at Aug 12, 2014 6:14:10 AM
25000 VIA
VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ
10000 VIA (S)
VhDapPaFmcAXCMB26PQn9PtWkkbrRvbBuD
14999.999 VIA (S)
VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ

5aa306b96a81ab98a0d582d3b9cb1d848c0c1949518f27ba207fce3b374c55ae

mined at Aug 12, 2014 7:12:24 AM
4999.999 VIA
VhDapPaFmcAXCMB26PQn9PtWkkbrRvbBuD
4999.998 VIA (U)
Via2XCHoqQxACVuXf4vrajVDJetwVgxLMz

[btcdrak]

ClearingHouse records transactional information using the viacoin blockchain. To send XCH from Alice to Bob means sending a small amount of Viacoin to addresses. Those transactions have the metadata in them. This means ClearingHouse can then go back over the blockchain and extract the data from the blockchain.

Does that make sense? When you send XCH the XCH control moves from your address to the destination address. No XCH is reduced, you only pay a tiny *viacoin* fee for making the transaction (just as you would for a normal viacoin transaction).

Are you saying that I can convert the 500 XCH that is now represented as .0012 VIAcoin in my wallet back into 500 XCH (minus the small VIA fee) by sending it from my VIAcoin wallet back to ClearWallet?

If this is correct, is there any special procedure? (Or would I just send .0012 VIAcoin to my ClearWallet address?)

What i am saying is it was never converted. You sent XCH, what you are seeing, this 0.0012 is just the fee. XCH does not show up on the viacoin block explorer since it is not Via.

[btcdrak]

Create XCH by "burning" your VIA. Please note that you can only burn up to 20000 VIA total for any given address.[/b]

so what happens to this guy here. does he get a refund or is his extra burns lost?
http://explorer.viacoin.org/address/VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ

You are not reading the block explorer correctly. You cannot burn more than 20,000 VIA from a given address. What you are seeing is a bunch of transactions giving change. Remember the way bitcoin type transactions work is to spend entire outputs. So if an address has an output of 100 and you send 1 to Bob, the tx consists of 1 -> Bob and 99 -> your change address. If you dont read the block explorer correctly it looks like you sent 100 this is not the case.

Example https://i.imgur.com/8EGE7rQ.png

If you look at the sum total of payment to the Via2XCH address you see it's not over 20,000. The payments are 449, 9000, 5000, 500, 50

Of course you could manually send coins to that address - dont do it! - you would suffer loss. The protocol mandates a maximum of 20,000 VIA per address. No only that, there is a specific requirement for how payments are sent to the burn address. If they arent followed, XCH will not be initialized. You must only use the clearwallet interface.

In any case, there is no problem with the reported address.

Does this answer your question?

[belief]

I am confused by what the via dev is doing.   via is in development and has employed peter, haven't seen the big improvement.  what's the use of thsi xch..  what's the meaning of  xch?

[qqNxt]

I am confused by what the via dev is doing.   via is in development and has employed peter, haven't seen the big improvement.  what's the use of thsi xch..  what's the meaning of  xch?

go read what counter party(XCP) is. xch is an much more improved and sustainable version of it.

[qqNxt]

Create XCH by "burning" your VIA. Please note that you can only burn up to 20000 VIA total for any given address.[/b]

so what happens to this guy here. does he get a refund or is his extra burns lost?
http://explorer.viacoin.org/address/VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ

In any case, there is no problem with the reported address.

okay thanks. now I look like a dumb ass lol  .
im used to nxt's blockchain explorer, which is straight forward balance out -debit balance in +credit.

[Bitcycle]

from what I understand is that the "burn" process of via is reversible?

and this burn period is open forever? even after 45day initializing period, you'll still get a fixed rate of 85xch per 1via.

or is this like xcp where once the burning is done its done, no more will be created?

The process is irreversible. After 45 days that's it, the XCH supply is fixed.

This is an extremely important point to make crystal clear.

[btcdrak]

Create XCH by "burning" your VIA. Please note that you can only burn up to 20000 VIA total for any given address.[/b]

so what happens to this guy here. does he get a refund or is his extra burns lost?
http://explorer.viacoin.org/address/VnGezXdFYrtZDq5oXKBiMqBeGCBYVYvQcJ

In any case, there is no problem with the reported address.

okay thanks. now I look like a dumb ass lol  .
im used to nxt's blockchain explorer, which is straight forward balance out -debit balance in +credit.

Actually, I think is an honest misunderstanding. I am sure block explorers UIs could be improved here. But in any case, I am happy to answer questions and clarify things because afterall, this is all new stuff and it does help get the message out there. I've found the more people ask questions, the more the community grows (and as more people understand, more people start helping others).

[provenceday]

hi dev

can we set a  Google Authenticator （2FA） for https://clearwallet.co/?

then it's more safety.

[btcdrak]

hi dev

can we set a  Google Authenticator （2FA） for https://clearwallet.co/?

then it's more safety.

Clearwallet doesnt store any data. It's all using deterministic wallets - that's what the seed is. There is therefore nothing to secure against using 2FA.

[qqNxt]

hi dev

can we set a  Google Authenticator （2FA） for https://clearwallet.co/?

then it's more safety.

Clearwallet doesnt store any data. It's all using deterministic wallets - that's what the seed is. There is therefore nothing to secure against using 2FA.

are you planning to release a desktop version of the xch any time soon? i'm still hesitant to type my passwords in the website even if its safe. (https://clearwallet.co/)

[btcdrak]

hi dev

can we set a  Google Authenticator （2FA） for https://clearwallet.co/?

then it's more safety.

Clearwallet doesnt store any data. It's all using deterministic wallets - that's what the seed is. There is therefore nothing to secure against using 2FA.

are you planning to release a desktop version of the xch any time soon? i'm still hesitant to type my passwords in the website even if its safe. (https://clearwallet.co/)

Nothing is stored. It's all processed browser side. It's basically using an Electrum seed to generate your addresses.

Operators do not have access to the Viacoins stored on the platform, instead Clearwallet.co and Clearwallet federated nodes simply provide a means to access Viacoins, ClearingHouse (XCH), and other digital assets recorded on the Viacoin blockchain. Viacoin private keys are encrypted using the BIP32 Hierarchical Deterministic Wallet algorithm such that Clearwallet.co and Clearwallet federated nodes cannot access or recover Viacoins, ClearingHouse (XCH), or other digital assets in the event of lost or stolen password.