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Author Topic: [ANN] [XCH] ★ ClearingHouse - Freedom by Blockchain ★  (Read 119078 times)
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provenceday
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August 13, 2014, 02:57:37 AM
 #161

Viacoin Team Implements Smart Contract Protocol Built on Altcoin Block Chain


source:  http://www.coindesk.com/viacoin-team-implements-smart-contract-protocol-built-altcoin-block-chain/

The first decentralized smart contracts protocol built on top of an altcoin block chain is now live.

ClearingHouse, a descendent of Counterparty, was created by the team behind viacoin and has been in active development since the alt first launched last month. The team has attracted top talent in the bitcoin space, most notably Bitcoin Core developer and Coinkite advisor Peter Todd who has been hired to work on his Tree Chains concept.

On 11th August, the viacoin development team announced new details regarding ClearingHouse’s internal currency, XCH, and information on how users can exchange viacoins for the new currency. Notably, a new Web-based client interface that implements the ClearingHouse protocol, Clearwallet, was also made public.

CoinDesk spoke with viacoin developer BTCDrak, who said that because the ClearingHouse protocol is built on top of the viacoin block chain, certain structural and political complications that have previously plagued decentralized contract platforms are largely sidestepped.

He explained:

“Because ClearingHouse and viacoin are part of the same project, the viacoin block chain will always accommodate ClearingHouse’s needs.”


He added that, in the past, the teams behind projects like Counterparty have faced pressure from bitcoin’s development community that ultimately impeded progress. Using viacoin as a basis, ClearingHouse-based projects can avoid these obstacles entirely.

First look at smart contract protocol

Clearwallet is the first implementation of ClearingHouse, giving users a decentralized environment for conducting various contracts. No keys are stored on the server and all transactions happen purely between the two parties.


As shown in the image above, the simple user interface currently offers an asset marketplace, a betting terminal and section for decentralized games. Clearwallet also offers a live chat box, with early adopters already investigating the implementation.

In its original announcement, the viacoin-ClearingHouse development team announced that the exchange rate between VIA and XCH would be 100 XCH per VIA. A 45-day sale period has already begun, with a diminishing exchange rate that will end at 85 XCH for each viacoin.



According to BTCDrak, exchange volume is up and nearly 230,000 viacoins have been converted to XCH, or roughly 143 BTC at press time. Users have already executed several trades in Clearwallet’s VIA/XCH marketplace.



Looking ahead, reputation and identity support will be implemented that add further layers of complexity to how the protocol can be leveraged. As the team noted in the blog post, this includes the creation of decentralized organizations, facilitation of online polls, the sale of goods and services and even the development of new cryptocurrencies.

Decentralized platforms grow in number

The ClearingHouse protocol represents the latest entry in a group of decentralized contract platforms, which also includes Counterparty and the off-block chain decentralized contract network BitHalo. Ripple Labs is also working on its own smart contracts platform, Codius.

Beyond contracts, decentralized platforms are attracting attention for their intrinsic security and appeal to a broad segment of the bitcoin community. It’s this level of grassroots support that has made such projects largely possible.

Among the projects taking shape in this space is BitcoinJ developer Mike Hearn’s decentralized crowdfunding platform Lighthouse. While no date has been given, the platform is expected to launch sometime in the next month.

Commerce has also proved to be a major area for decentralized development. Peer-to-peer marketplace OpenBazaar, created by Brian Hoffman and based on the Toronto Bitcoin Expo Hackathon winner DarkMarket, seeks to bring the principals behind decentralized actions to consumer-to-merchant interaction.
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August 13, 2014, 04:00:42 AM
 #162

The first decentralized smart contracts protocol built on top of an altcoin block chain is now live.

Can someone explain to me how this is "the first"? Or is it semantics? The NXT Asset Exchange seems to be pretty much the same as clearinghouse.
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August 13, 2014, 04:50:46 AM
 #163

The first decentralized smart contracts protocol built on top of an altcoin block chain is now live.

Can someone explain to me how this is "the first"? Or is it semantics? The NXT Asset Exchange seems to be pretty much the same as clearinghouse.


I think this is all about advertising. A bit of hype for the coin.
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August 13, 2014, 04:58:54 AM
 #164

I think you should make it clear that people are essentially buying XCH coins with VIA in the equivalent of an IPO/ICO.  Using the word "burn" just confuses matters as burn in crypto-currencies means putting coins beyond use in some way.  The VIA exchanged here can and will be used.  Why use the word "burn" at all?

Agree. There is no "burning" of coins here in any reasonable sense. This was over the top. One had to read carefully to understand what was going on.

I think that Drak should have explained patiently why he needs more coins. Instead of this he was talking about "shiny and new coins" which should not be destroyed. This was somewhat arrogant, showing lack of respect for investors.
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August 13, 2014, 06:32:27 AM
 #165

Thank you for your opinions and feedback regarding terminology. I've explained things well enough in the OP. If you do not like ClearingHouse or Viacoin, no-one is asking you to participate.

Running a project for the long term is a serious commitment. Nay-sayers are welcome to try it and come back to me when it takes 18 hour days, sleepness nights, endless stress and you have expensive developers, project costs and hosting to pay for. Look at most coin development after release and you will understand why underfunded projects disappear.

My own personal opinion is destroying coins needless, wasteful and would possibly be a price manipulation gimmick (which I am totally against). Also I never said issuance was by "proof-of-burn".

This is a "fire-sale" and the purchase process is called "burning". I like that because it's like forging metal in the fire to make it stronger.
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August 13, 2014, 07:03:50 AM
 #166

Thank you for your opinions and feedback regarding terminology. I've explained things well enough in the OP. If you do not like ClearingHouse or Viacoin, no-one is asking you to participate.

Running a project for the long term is a serious commitment. Nay-sayers are welcome to try it and come back to me when it takes 18 hour days, sleepness nights, endless stress and you have expensive developers, project costs and hosting to pay for. Look at most coin development after release and you will understand why underfunded projects disappear.

My own personal opinion is destroying coins needless, wasteful and would possibly be a price manipulation gimmick (which I am totally against). Also I never said issuance was by "proof-of-burn".

This is a "fire-sale" and the purchase process is called "burning". I like that because it's like forging metal in the fire to make it stronger.
excellent explaination, now I am bit of understood

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August 13, 2014, 07:16:56 AM
 #167

Quote
xcp high value would also be a flaw. Lets say that at some point in the future due to the lack of available xcp that 1 xcp is worth $1,000. No one in their right mind would pay $1,000 just to complete one single transaction on clearing house. The system would eventually be to expensive for anyone to consider using.

Exchange fees are paid in Via.

I was not actually referring to the fee per transaction, but rather the fact that 1 or more xch are destroyed everytime you create something within clearinghouse, like an asset or contract. Therefore if you create a contract within clearinghouse and 1 xch is destroyed as part of that process, and if 1 xch is worth $1000, then it has cost you $1000 to create that contract or asset. Am I right?
btcdrak (OP)
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August 13, 2014, 07:19:13 AM
 #168

Quote
xcp high value would also be a flaw. Lets say that at some point in the future due to the lack of available xcp that 1 xcp is worth $1,000. No one in their right mind would pay $1,000 just to complete one single transaction on clearing house. The system would eventually be to expensive for anyone to consider using.

Exchange fees are paid in Via.

I was not actually referring to the fee per transaction, but rather the fact that 1 or more xch are destroyed everytime you create something within clearinghouse, like an asset or contract. Therefore if you create a contract within clearinghouse and 1 xch is destroyed as part of that process, and if 1 xch is worth $1000, then it has cost you $1000 to create that contract or asset. Am I right?

XCH is destroyed to create an asset, that is correct. We can adjust the fees in accordance with inflation/deflation in much the same way Bitcoin adjusted the miner fees as the price went up. There is nothing for you to worry about.
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August 13, 2014, 07:47:58 AM
 #169

Anybody else made a little uneasy by this? I thought it would be a true burn. I thought the dev got his dev fund from the first IPO...

I'm not uneasy about this at all, and trust me I hold a lot of VIA.  I bought this coin because I think it's the next generation of cryto (and these days everyone seems to claim this).  It has the potential to crush so many other coins (XCP, MSC, Stellar, etc.).  But is it reasonable for us to expect Btcdrak to do this on only a 600BTC raise??  Fuck no.  I want to see VIA give Ethereum a run for their money, and I truly believe it can.  However, Ethereum has raised $15M so far.  The beauty is Btcdrak and Viacoin are way ahead of the game, by months! and only off of 600BTC!  

I personally don't think it's even remotely possible to compete with well funded coins like Stellar or Ethereum with so little capital resources, which is why I'm fully behind the new raise for XCH.  It's a pretty easy choice in my mind.  Btcdrak has had flawless execution and this "burn" or IPO is no different.  He's doing exactly what he has to and keeping his eye on the prize in the long game.  I'm happily going to contribute becuase for VIA to really have the best chance of succeeding, Btcdrak will need to pull the best developers from everywhere over to this project.  This will cost money.  He's got the reputation, he's got the skills, he's shown execution, he's always two steps ahead, and he's got the momentum now.  I hope this raise pulls in well in the $ Millions for him to work with, and he makes even more scary good hires ala Peter Todd.  I can't wait to see the future of this coin.

+1000
this!
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August 13, 2014, 12:33:20 PM
 #170

Thank you for your opinions and feedback regarding terminology. I've explained things well enough in the OP. If you do not like ClearingHouse or Viacoin, no-one is asking you to participate.

Running a project for the long term is a serious commitment. Nay-sayers are welcome to try it and come back to me when it takes 18 hour days, sleepness nights, endless stress and you have expensive developers, project costs and hosting to pay for. Look at most coin development after release and you will understand why underfunded projects disappear.

My own personal opinion is destroying coins needless, wasteful and would possibly be a price manipulation gimmick (which I am totally against). Also I never said issuance was by "proof-of-burn".

This is a "fire-sale" and the purchase process is called "burning". I like that because it's like forging metal in the fire to make it stronger.

Drak - you misunderstand.  Nobody is saying there is anything wrong with selling the coins.  The problem is simply the use of the term "burn" which is misleading.  Please reconsider this.
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August 13, 2014, 12:53:12 PM
 #171

instead of "burn" how about "recycled" back into the via ecosystem. granted they go to devs but they will eventually end up in circulation again

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August 14, 2014, 09:59:46 AM
 #172

Think I will wait a bit for the issues with the wallet to be sorted before I "burn"(trade in reality) Via into xch...
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August 14, 2014, 10:14:08 AM
 #173

Might be a bit too simple but have you guys inputted the correct passphrase for your clearhouse wallet. ive not had an issue with my xch. if you havnt inputted the correct password it will display a totally different wallet. appologies if you have but just checking

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August 14, 2014, 11:16:05 AM
 #174

Might be a bit too simple but have you guys inputted the correct passphrase for your clearhouse wallet. ive not had an issue with my xch. if you havnt inputted the correct password it will display a totally different wallet. appologies if you have but just checking
you can see the money in pictures,  how can be a wrong passphrase

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August 14, 2014, 11:39:47 AM
 #175

Might be a bit too simple but have you guys inputted the correct passphrase for your clearhouse wallet. ive not had an issue with my xch. if you havnt inputted the correct password it will display a totally different wallet. appologies if you have but just checking
passphrase is right,,  the account has via in it

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August 14, 2014, 12:09:13 PM
 #176

No worries guys i couldnt see the balance on my phone lol

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August 14, 2014, 05:12:27 PM
 #177

I have changed 4 browsers , all the same , this situation has last more than 20 hours.            

all cache and localResources for the wallet?? what do you mean , my computer is ok, I changed different computers, still  have the  problem when I use this passphrase

So if you use a new passphrase it works?

What are you doing when you get the error? Just opening the wallet?

Your not running on testnet right?

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August 14, 2014, 09:01:36 PM
 #178

That was caused by a server update. Just refresh.
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August 14, 2014, 11:26:07 PM
 #179

Still getting this error across all browsers. I lost all my XCH and tokens. Any help?

failoverAPI: Call failed (failed over across all servers). Method: get_normalized_balances; Last error: JSON-RPC Error:

Type: Invalid params

Code: -32602

Message: UNSPECIFIED




Coins are in the blockchain, not in the wallet. So, you only lost them if you lost your seed/password.
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August 14, 2014, 11:31:25 PM
 #180

Still getting this error across all browsers. I lost all my XCH and tokens. Any help?

failoverAPI: Call failed (failed over across all servers). Method: get_normalized_balances; Last error: JSON-RPC Error:

Type: Invalid params

Code: -32602

Message: UNSPECIFIED




Coins are in the blockchain, not in the wallet. So, you only lost them if you lost your seed/password.

hopefully you have your seed password like mentioned above.
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