What is Bitcoin’s Ceiling?

Just a year ago, a post here on NXTER relayed predictions saying that Bitcoin’s value would reach or go beyond $500 by the end of 2016. True enough, it exceeded $800. This value, however, is minuscule given the fact that the cryptocurrency recently hit $16,000 per unit – a record high. The meteoric rise of Bitcoin (BTC) has also fueled massive growth in other tokens, like NXT and ARDR. Why now though? What has fueled this recent growth spurt and is Bitcoin, and the wider cryptosphere, due for a harsh correction?

NDTV indicated that the likely cause behind the surge in price is the recent announcement that CME Group Inc. and CBOE Global Markets were allowed by the main U.S. derivatives regulator to list Bitcoin futures contracts. This was seen as another step towards mainstreaming the cryptocurrency, although the rates also led to petitions for more regulations. In fact, the Nobel Prize-winning economist Joseph Stiglitz even called for Bitcoin to be outlawed. Regardless, distributed ledger technologies remain poorly understood by the average person and as a result many analysts predict Bitcoin and crypto to be a huge bubble, ready to pop at any moment.

The unfavorable view towards the cryptocurrency is understandable, considering its volatility. Just last month, Coinwire reported that the cryptocurrency breached $11,000, only for its value to drop below $10,000 just a few hours after its price surge. Nonetheless, the unpredictability of Bitcoin has not dissuaded investors from using their real-world money to purchase these virtual coins. Fortune surmises that the reason behind the continuing rise in value is largely due to increasing public awareness. The mystery surrounding it has captured the interest of many buyers, and the absence of any central regulatory body further added to its appeal.

Moreover, the increasing number of buyers caused a domino effect, which led to even more investors. It’s linked to a mindset of FOMO, or fear of missing out, with regards to trending investments. For instance, more than 100,000 people have opened new Coinbase accounts from November 22 to 24. By the end of that month, an estimated 13.1 million accounts have been created in the system.

The popularity of Bitcoin among investors lends credence to the prediction of financial adviser Tom Lee. Business Insider conveyed his forecast, stating that Bitcoin’s price will reach $25,000 within 5 years. He based this projection on Metcalfe’s Law, which estimates that the value of a network is the square of the number of users belonging to it. Lee stated that the increasing number of Bitcoin investors will also lead to an increase in the value of the cryptocurrency. He likened Bitcoin to Facebook’s growth in market value, which is now more than double the number of its users.

Still, even financial experts have made mistakes in forecasting the value of Bitcoin. Although, economist Yves Lamoreux, whose sentiments echo that of Lee’s, also pointed out the times when analysts were wrong. Tim Draper’s 2014 price forecast was mentioned as an example. Back then the analyst predicted that the cryptocurrency would have reached $10,000 by 2018, an estimation that was proven wrong recently.

The bottom line is while Bitcoin’s value and that of proven technologies like Ethereum, Litecoin, and Nxt / Ardor are looking good right now, there is no way to tell if this trend will continue in the coming months. A lot of analysts say that it’s a double-edged sword – an assumption that still remains to this day.

Coding for NXT Crypto Platform #1

Coding for NXT Crypto Platform #1: Configuration

Setting up the config File

The configuration file of Nxt is an important tool for you to setup how Nxt works on your computer.

With the configuration file, you can setup your Nxt to use SSL, Setup Nxt on a Raspberry Pi or configure your Nxt for development, like the example used here.

The configuration file

You already have a configuration file you can see all current settings

nxt/conf/nxt-default.properties

For developing purposes, please create a file in nxt/conf/ and name it nxt.properties

Please copy the code below in your nxt.properties file.

# Enable Cross Origin Filter for the API server.
nxt.apiServerCORS=true

# Enable Cross Origin Filter for NRS user interface server.
nxt.uiServerCORS=true

If you want to develop on testnet, please add

# Never unlock your real accounts on testnet! Use separate accounts for testing only.
# When using testnet, all custom port settings will be ignored,
# and hardcoded ports of 6874 (peer networking), 6875 (UI) and 6876 (API) will be used.
nxt.isTestnet=true

Instead of hosting Nxt yourself, you can decide to get information from any other node in the Nxt network. In my examples, I will be using http://localhost:7876. This is when you are using Nxt on your personal computer or server. A list of other nodes you could use for displaying data on your website or access Nxt can be found on websites that provide access to the Nxt network like PeerExplorer.com

Instead of using http://localhost:7876 you could then, for example, enter an IP like http://x.x.x.x:7876 to get information from a node instead of localhost.

When you want to have control over the node, which version it runs, which information can be accessed or how many data sets the API retrieves, it makes sense to have your own node running with the configuration you prefer.

If you are looking for more information on the API, documentation and more I recommend the Nxt Wiki.

Find also how to create your own public node or host your node with amazon AWS.

Read the next part of this series > …

By: Tosch

More resources, example code and dev blogs: https://nxter.org/devcom

Coding for NXT Crypto Platform #2

Coding for NXT Crypto Platform #2: First Steps

About Nxt

Did you ever want to participate in a financial field with your Software without taking big risks and have an easy and anonymous access to? Have you tried to access monetary systems and get transparent data from Asset Exchanges, Marketplaces, Data clouds? Nxt is a peer-to-peer Blockchain Software that allows a global financial service that you can use on your server or computer. No registration, no bureaucracy.

What does the Nxt Blockchain bring to the table that is new?

In traditional banking systems you encounter ‘trusted’ banks which manage your money and holdings for you as a service. But when you want to access your money they do not make it easy for you. Especially as a developer, there is no chance you can retrieve the data of holdings or have access to the historical Wall Street data for free.

With the peer-to-peer blockchain system Nxt has started to build a whole ecosystem around secure and transparent data handling. You can start your own services, create currencies, create assets and trade them, a built-in marketplace, data cloud and much more!

Getting started

With the following lines of code I would like to demonstrate how to get a first access to Nxt data and then show you how to write on the blockchain and get some data ready for your homepage.

From there you could start building everything you can imagine around the Blockchain, Account Ledger and featured tools.

If you have not installed it yet, see here how to install and configure Nxt to start developing.

“Hello World”

In this example, we are choosing the most basic setup which lets you display data from the Blockchain on your website.

We will use JQuery to simplify the API call but you can achieve the same results with other frameworks or a bit more code.

Let us create the first html file, we call it transaction.html and insert the following code into it.

<div id="result"></div>
<script src="https://code.jquery.com/jquery-2.2.0.min.js"></script>
<script>
      $.getJSON('http://localhost:7876/nxt', {"requestType": "getTransaction", "transaction": "8520011591947303971"}, function(request) 
      {
        $("#result").html(request.attachment.message);
      });
  </script>

Nxt has a very helpful API documentation that is addressable on http://localhost:7876/test. We are using the getTransaction call in this example, which you can also test on the API page.

When running the script above, you should see the following response in your Browser:

Hello World
Congratulations! You have received the first data from the blockchain

But what happened here?

First, we have used the API call “getTransaction” which allows us to have a detailed look at information of any transaction that is on the Blockchain. Have a look at your browser console to see the whole transaction information.

In the above code, we have accessed the market output of the JSON response the Nxt API gave us. Here you can see the whole object returned from the API.

{
                            "senderPublicKey": "7969c2ec61af9bedd3260c9b2cd4a292ba01ecbc2901a86851fa6c68208b0766",
                            "signature": "d13ad29034e56ae58b7f1eee4979cd6dffff38a7a26094c86103e431faf0bd06084be1e42534efd8e76b8a59c12630b52d851c571a25bc54af9ebdb56ca6df14",
                            "feeNQT": "100000000",
                            "requestProcessingTime": 0,
                            "type": 0,
                            "fullHash": "23bc3ae466293d7690b426173445e5b87423ea798b1d9c2913feda5d0d52a5b6",
                            "version": 1,
                            "phased": false,
                            "ecBlockId": "15499194118663359315",
                            "signatureHash": "9ea43451798a0144bd6cea58cbbba479c24ed7cdc29a4077a9aeb49a063498a7",
                            "attachment": {
                                "version.Message": 1,
                                "messageIsText": true,
                                "message": "Hello World",
                                "version.OrdinaryPayment": 0
                            },
                            "senderRS": "NXT-5RB8-KJD3-BT3B-E2QWW",
                            "subtype": 0,
                            "amountNQT": "10000000000",
                            "sender": "14876164227056393510",
                            "recipientRS": "NXT-P439-YVBD-VUEQ-A3S2T",
                            "recipient": "10124938546868029479",
                            "ecBlockHeight": 614717,
                            "deadline": 1440,
                            "transaction": "8520011591947303971",
                            "timestamp": 67508752,
                            "height": 2147483647
                        }

Why use getJSON?

As we have been using the getJSON function of Jquery, we do not need to parse the JSON anymore and can directly access JSON the Nxt API returns. When using an ajax call or get method of Jquery, you might need to JSON.parse(request) in order to access the object.

The transaction 8520011591947303971 we have accessed in the code, was a transaction I have previously sent. Every transaction within Nxt is transparent and for everybody to see. Have a look at the returned JSON from the Nxt API and with your script at hand you can already display all the information you are interested in from any transaction.

Replace the request.attachment.message (with for example request.accountRS) to display the account ID and continue with adding a nice view to the information.

In the following articles, I will show you how to submit the first data on the blockchain. How to retrieve data from Assets, calculate prices and see running orders.

Reaching for the stars

Nxt supports you in creating computer Software that allows trading on a global space in a peer-to-peer network where every participant is equal in power. Start building awesome things with Nxt.

Read the next article in this series > …

More resources, example code and dev blogs: https://nxter.org/devcom

More in this series:
Coding for NXT Crypto Platform #1: Configuration

Coding for NXT Crypto Platform #3: Output from the Asset Exchange

Coding for NXT Crypto Platform #3: Output from the Asset Exchange

The Star of Blockchains

Welcome to the third article on coding with NXT. In the previous articles I have shown you how to set up your Nxt configuration file to easily develop with JavaScript and how to get the first output from the Blockchain data. In this article I would like to continue with one of the most widely used tools in Nxt: the Asset Exchange.

What is the Asset Exchange?

The Asset Exchange is an Exchange based on Blockchain technology. Everybody can to create his/her own Asset tokens on the Blockchain. The Asset can represent anything , whether it is financial services, crowdfunding, support for a website, memberships, commodities or other things you can imagine.

The benefit of using an Asset token on the Nxt Blockchain is that you directly have a global audience, as the Internet and digital currencies such as Nxt or Bitcoin do not know borders. Another benefit I would like to highlight is that nobody needs a real bank account; once you hold your first virtual currency it is easy to move from one denomination to the other and because Blockchain technology is accesible to everyone, there is no difficulty to move them from person to person. (You still should inform yourself about your local juristriction and if creating such an Asset is allowed.)

How to retreive the first Asset Data

To get your first Data we first choose an Asset; you can see a list of all existing Nxt Assets here: Mynxt.info Asset List

Once you have chosen an Asset, you can see the Asset ID in the top left corner. We will need this ID to get data from an Asset. I have chosen the SuperNET Asset in this example as it is frequently traded and has a lot of historical data we can look at.

Please remember you need to have your instance of Nxt running on your system to follow the rest of this tutorial.

First, let us look at the Meta Data of an Asset. The following script will give you output of the original Asset Setup. As always, I recommend you the page http://localhost:7876/test when looking up the API calls. On this page you can see which calls are for receiving data (GET) or submitting data (POST) to the Blockchain. We will start with GET requests and the call getAsset.

You can use this script to display information on Assets on your website, to overview which Assets have been created in short or long term or just for a personal list of Assets and their functions.

<!DOCTYPE html>
<html>
<head>
<!-- Latest compiled and minified CSS -->
<link rel="stylesheet" href="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.6/css/bootstrap.min.css" integrity="sha384-1q8mTJOASx8j1Au+a5WDVnPi2lkFfwwEAa8hDDdjZlpLegxhjVME1fgjWPGmkzs7" crossorigin="anonymous">
</head>
<body>
  <h2>Asset Data</h2>
  <table class="table table-striped">
    <thead>
      <tr>
        <th>Key</th>
        <th>Data</th>
      </tr>
    </thead>
    <tbody id="result">
      
    </tbody>
  </table>
<script src="https://code.jquery.com/jquery-2.2.0.min.js"></script>
<!-- Latest compiled and minified JavaScript -->
<script src="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.6/js/bootstrap.min.js" integrity="sha384-0mSbJDEHialfmuBBQP6A4Qrprq5OVfW37PRR3j5ELqxss1yVqOtnepnHVP9aJ7xS" crossorigin="anonymous"></script>

  <script>
      $.getJSON('http://localhost:7876/nxt', {"requestType": "getAsset", "asset": "12071612744977229797", "includeCounts": "true"}, function(request) {
        var rows;
        $.each(request, function(key, data) {
          rows += '<tr>';
          rows += '<td>'+key+'</td>';
          rows += '<td>'+data+'</td>';
          rows += '</tr>';
        });
        $("#result").html(rows);
      });
  </script>
</body>
</html>

The code above will display a table on your HTML page with the following information:

programming-nxt-3-1

I want to take some time to teach you about some abbreviations in Nxt at this point:

You see two variables “initialQuantityQNT” and “quantityQNT”. QNT stands for “Quantity”, the initialQuantity is setup by the Asset creator in the beginning. As some of the Assets might be deleted, the “quantityQNT” shows us how many Assets exist at the moment. We also need the “decimals” variable. The Asset we look at has 4 decimals, which means that the number of Assets shown in the table need to be divided by 10,000 (4 zeroes) to get the actual number. The above Asset would result in a quantity of currently 816,061.0000 Assets.

The Account is the numerical Nxt account of the Asset creator and the accountRS the same account identifier in Reed-Solomon (RS) format.

The numberOfTrades, numberOfTransfers and numberOfAccounts are calculated at the point in time when you run the call.

You can shorten the “getAsset” API call with leaving out “includeCounts”: “true” at the above $.getJSON call, consequently you will not receive the number of Asset holders, transfers and trades but the API call will get quicker.

Ask and Bid Orders

After learning details about the Asset and getting the Meta Data, we will want to know if there are Ask or Bid Orders for this Asset and at which price the Asset is currently traded. The methods to use calculatons from Quantities or Nxt decimal places are not always optimal. Sometimes I am choose the methods in this tutorial to be more understandable rather than optimal. Usually I would recommend to make calculations with the original numbers from the API. You won’t have to deal with decimal places and this is where most errors result from. The API calls we are using for this is getAskOrders and getBidOrders. Again, we need the Asset ID to get the Ask and Bid Orders for the Asset you are interested in. Additionally we will shorten the output by adding the firstIndex and lastIndex parameters. Here is the code to retreive both Ask and Bid Orders for the SuperNET Asset:

<!DOCTYPE html>
<html>
<head>
<!-- Latest compiled and minified CSS -->
<link rel="stylesheet" href="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.6/css/bootstrap.min.css" integrity="sha384-1q8mTJOASx8j1Au+a5WDVnPi2lkFfwwEAa8hDDdjZlpLegxhjVME1fgjWPGmkzs7" crossorigin="anonymous">
</head>
<body>
  <div class="col-md-6">
    <h2>Ask Orders</h2>
    <table class="table table-striped">
      <thead>
        <tr>
          <th>Account</th>
          <th>Quantity</th>
          <th>Price</th>
          <th>Total</th>
        </tr>
      </thead>
      <tbody id="askTable">
      
      </tbody>
    </table>
  </div>
  <div class="col-md-6">
    <h2>Bid Orders</h2>
    <table class="table table-striped">
      <thead>
        <tr>
          <th>Account</th>
          <th>Quantity</th>
          <th>Price</th>
          <th>Total</th>
        </tr>
      </thead>
      <tbody id="bidTable">
      
      </tbody>
    </table>
  
  </div>
  <script src="https://code.jquery.com/jquery-2.2.0.min.js"></script>
  <!-- Latest compiled and minified JavaScript -->
  <script src="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.6/js/bootstrap.min.js" integrity="sha384-0mSbJDEHialfmuBBQP6A4Qrprq5OVfW37PRR3j5ELqxss1yVqOtnepnHVP9aJ7xS" crossorigin="anonymous"></script>
  <script>
  
  $.getJSON('http://localhost:7876/nxt', {"requestType": "getAsset", "asset": "12071612744977229797"}, function(request) {
    var decimals = request.decimals;
    var NQTdivider = 8 - decimals;
    
    
      $.getJSON('http://localhost:7876/nxt', {"requestType": "getAskOrders", "asset": "12071612744977229797", "firstIndex": 0, "lastIndex": 4}, function(requestAskOrders) {
        var rows;
        $.each(requestAskOrders.askOrders, function(key, data) {
        
          var quantity = data.quantityQNT / Math.pow(10, decimals);
          var accountRS = data.accountRS;
          var priceNXT = data.priceNQT / Math.pow(10,NQTdivider);
          var total = quantity * priceNXT;
          
          rows += '<tr>';
          rows += '<td>'+accountRS+'</td>';
          rows += '<td>'+quantity+'</td>';
          rows += '<td>'+priceNXT+'</td>';
          rows += '<td>'+total+'</td>';
          rows += '</tr>';
        });
        $("#askTable").html(rows);
      });
        
      
      $.getJSON('http://localhost:7876/nxt', {"requestType": "getBidOrders", "asset": "12071612744977229797", "firstIndex": 0, "lastIndex": 4}, function(requestBidOrders) {
        var rows;
          $.each(requestBidOrders.bidOrders, function(key, data) {
          
            var quantity = data.quantityQNT / Math.pow(10, decimals);
            var accountRS = data.accountRS;
            var priceNXT = data.priceNQT / Math.pow(10,NQTdivider);
            var total = quantity * priceNXT;
            
            rows += '<tr>';
            rows += '<td>'+accountRS+'</td>';
            rows += '<td>'+quantity+'</td>';
            rows += '<td>'+priceNXT+'</td>';
            rows += '<td>'+total+'</td>';
            rows += '</tr>';
        });
        $("#bidTable").html(rows);
      });
    
    
    });
      
  </script>
</body>
</html>

With this call you are expected to receive 2 tables on your HTML page:

programming-nxt-3-2

The script above can be used to display current prices and Offers for an Asset on your website, and to show the whole Orderbook of any Asset. Furthermore you can use it and analyse tendencies. As you additionally have the Accounts for all bids and asks, you can analyze the bids and asks for the amount of Accounts that are trading on the platform.

This time we had to do some more $.getJSON queries to get the information we want. First, we need the decimals of the Assets to do the calculation about the Quantity as mentioned with the first call. Second, we want to get both: Ask and Bid orders. This needs one query for each of the API calls.

We also see a new variable that needs explanation. “priceNQT” is the price of an Asset per QuantityQNT.

The price on the API is displayed in priceNQT per QuantityQNT. So, what is NQT and what is the difference to QNT? NQT refers to NXTQuant, the smallest number we have in NXT, which is 0.00000001 NXT (8 decimal places). We also have to take into account the decimal places, which we have to multiply again to get the price per actual Asset. I have used the variable var NQTdivider = 8 — decimals; to get the number of power we need to divide the Quantity by and get the current price in NXT per Quantity.

I hope you have enjoyed this third installment of “Coding for NXT Crypto Platform”. In the next article, I will be covering Historical Data and Account information.

Read the next article in this series > …

More resources, example code and dev blogs: https://nxter.org/devcom

More in this series:
Coding for NXT Crypto Platform #1: Configuration
Coding for NXT Crypto Platform #2: First Steps

by Tosch

Coding for NXT Crypto Platform #4: Historical Asset Data

Coding for NXT Crypto Platform #4: Historical Asset Data

In the last topic I showed you how to retrieve basic data about Assets from the Nxt Asset Exchange.

In this article I want to cover how to receive historical trades.
The API call we are using here is “getTrades”.’

Historical Trades

Historical trades can either be from any Account or from any Assets, we are continuing as we did before and get latest trades from the Asset SuperNET.

Again we will be using the parameters firstIndex and lastIndex to retreive only the last 10 entries. If you want to get more trades, just change lastIndex to a higher number or erase both firstIndex and lastIndex completely.

If you erase firstIndex and lastIndex it is possible that you get a limited number of entries — this can be setup in your Nxt configuration file. Have a look at the property: nxt.maxAPIRecords=100 and configure it to your needs (just when you are working without an admin password).

Now, let’s jump back to the code.

<!DOCTYPE html>
<html>
<head>
<!-- Latest compiled and minified CSS -->
<link rel="stylesheet" href="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.6/css/bootstrap.min.css" integrity="sha384-1q8mTJOASx8j1Au+a5WDVnPi2lkFfwwEAa8hDDdjZlpLegxhjVME1fgjWPGmkzs7" crossorigin="anonymous">
</head>
<body>
  <div class="col-md-12">
    <h2>Trade History</h2>
    <table class="table table-striped">
      <thead>
        <tr>
          <th>Date</th>
          <th>Type</th>
          <th>Quantity</th>
          <th>Price</th>
          <th>Total</th>
          <th>Buyer</th>
          <th>Seller</th>
        </tr>
      </thead>
      <tbody id="tradeHistory">
      
      </tbody>
    </table>
  </div>
  <script src="https://code.jquery.com/jquery-2.2.0.min.js"></script>
  <!-- Latest compiled and minified JavaScript -->
  <script src="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.6/js/bootstrap.min.js" integrity="sha384-0mSbJDEHialfmuBBQP6A4Qrprq5OVfW37PRR3j5ELqxss1yVqOtnepnHVP9aJ7xS" crossorigin="anonymous"></script>
  <script>
  
  $.getJSON('http://localhost:7876/nxt', {"requestType": "getTrades", "asset": "12071612744977229797", "firstIndex": 0, "lastIndex": 9, "includeAssetInfo": "true"}, function(request) {
        
    var trades = request.trades;
    var rows;
    var nxtTime = 1385294400;
    $.each(trades, function(key, data) {
      var decimals = data.decimals;
      var NQT_QNT = 8 - decimals;
      var quantityQNT = data.quantityQNT / Math.pow(10, decimals);
      var priceNQT = data.priceNQT / Math.pow(10, NQT_QNT);
      var total = data.quantityQNT * data.priceNQT / Math.pow(10,8);
      var NxtTimestamp = (+data.timestamp + +nxtTime) * 1000;
      var d = new Date(NxtTimestamp);
      rows += '<tr>';
        rows += '<td>'+d.toDateString()+'</td>';
        rows += '<td>'+data.tradeType+'</td>';
        rows += '<td>'+quantityQNT+'</td>';
        rows += '<td>'+priceNQT+'</td>';
        rows += '<td>'+total+'</td>';
        rows += '<td>'+data.buyerRS+'</td>';
        rows += '<td>'+data.sellerRS+'</td>';
      rows += '</tr>';
    });
    $("#tradeHistory").html(rows);
    
  });
      
  </script>
</body>
</html>

For the API request, as stated above, we limited the response by setting firstIndex and lastIndex to 10 entries. Furthermore, the includeAssetInfo set as true will show the decimal for the Asset and the Name of the Asset. This will make the call a bit slower but especially when we are looking at more than one Asset a very helpful addition.

Instead of including includeAssetInfo we could make a getAsset call to receive those parameters (when just looking at one Asset this might be recommended). But when you are looking at an Account last trades instead of an Asset, this can save a lot of work and time.

The most important calculations to mention for this script are the Nxt timestamp, quantity and price. They are calculated as already explained above.

Nxt Timestamp

Nxt has its own timestamp. Nxt was started November on Nov 24, 2013 12:00 am. In Nxt this would be timestamp 0. In Javascript this is 1385294400 (as Javascript started January 1, 1970, 00:00:00), but JavaScript uses Miliseconds, therefore we have to multiply 1000 to get there. As a result we need to add the given timestamp of Nxt to 1385294400 and add the miliseconds to retreive the timestamp in JavaScript.

Analysing the historical data will get you a lot of information about the frequency of trading and how many accounts have been trading an Asset. The more accounts are involved in trading, the better an Asset is spread among traders, which is usually a good sign. Of course, you have to be aware that you do not know the origin of Accounts. It is possible that one person creates multiple accounts and trades from all of these accounts. The Asset appears to be traded by more parties, which seems beneficial for the Asset owner, on the other hand people might create several accounts to track different types of holdings. In a lot of cases it makes sense for a user to have more than just one Account.

The above script will show you a table like this one:

programming-nxt-4-1

Account Information

As you already know, the Blockchain is fully transparent; you can see any transaction in the network and all the holdings of one account. It still enables you to write encrypted messages, which cannot be read by anybody but the person who holds the passphrase of either the sender or the recipient.
The next step for you is to find out how to create a nice interface to view Accounts. All the necessary steps to get there are explained here.

The API call needed to get Account information is getAccount. You could also use getAccountAssets to monitor Asset holdings but getAccount will show you all the holdings of one account.

A hint: as in the getTrades API, you can decide to include furter informations with includeLessors, includeAssets, includeCurrencies or includeEffectiveBalance.

Enjoy developing with Nxt! In the next article, we will explore creating transactions and more details about the Blockchain.

Read the next article in this series > …

More resources, example code and dev blogs: https://nxter.org/devcom

More in this series:
Coding for NXT Crypto Platform #1: Configuration
Coding for NXT Crypto Platform #2: First Steps
Coding for NXT Crypto Platform #3: Output from the Asset Exchange

Coding for NXT Crypto Platform #5: Transactions on the Nxt Blockchain

Coding for NXT Crypto Platform #5: Transactions on the Nxt Blockchain

Nxt Blockchain

The Nxt Blockchain is the heart of Nxt. Every Transaction ever made is recorded on the Blockchain. The Blockchain is a decentralized database, which is saved on your computer. To prevent spam, for every transaction you have to pay fees in the native currency, which will be NXT for us using the Nxt Blockchain. In previous articles I have shown how to setup and configure your Nxt Software as well as how to read data, this time we write data on the Blockchain, starting with a simple example. Throughout the article, I want to focus on tools you can use while creating Transactions on Nxt.

Send Nxt

Codewise, creating a transaction on Nxt is very similar to reading data from the Blockchain; There are some topics we have to cover before creating our first transaction. To create a transaction, we first need a Nxt Account and some NXT, in order to pay for Blockchain fees. So, let us log in to Nxt and create our first account.

Create a Nxt account

In order to have a secure Nxt account, you need a strong passphrase. Working With virtual currencies we use the term passphrase instead of password, this describes strong entropy and should be more secure than a regular password. When you are using the official Nxt Client, you can use the implemented passphrase creation function, which will give you a passphrase which contains 12 words.

Create your own passphrase

You can also create your own passphrase, make sure it contains enough characters and entropy. To generate a passphrase it is recommended to use Software such as KeePass, LastPass, Dashlane or Online Tools like PasswordsGenerator.net or Fourmilab.ch.

Nxt passphrase generator

When running Nxt on http://localhost:7876 you will get to the client, a click on the link quoting

DON’T HAVE AN ACCOUNT? CLICK HERE TO CREATE ONE!

will bring you to the passphrase generator. Afterwards (or with your self-created passphrase), you can log in to your Account. If you do not have NXT yet, the quickest method is when you already got some virtual Currencies like Bitcoin, Litecoin, Ethereum or others. You can exchange them via Shapeshift or buy your coins on another exchange and transfer them to your wallet.

In the next steps, we use your passphrase to sign and broadcast transactions. Your passphrase can also be seen as your private Key.

Create the Transaction

With a secure passphrase, we can now look into the code of creating a send-NXT-Transaction. We send out 1 NXT to a recipient, which you see in the code and change it there for another recipient. Insert your passphrase in the following code and run it to create the transaction.

<!DOCTYPE html>
<html>
<head>
<!-- Latest compiled and minified CSS -->
<link rel="stylesheet" href="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.6/css/bootstrap.min.css" integrity="sha384-1q8mTJOASx8j1Au+a5WDVnPi2lkFfwwEAa8hDDdjZlpLegxhjVME1fgjWPGmkzs7" crossorigin="anonymous">
</head>
<body>
    <div class="col-md-12">
        <h2>Outgoing Transaction JSON</h2>
        
    <div class="well" style="word-wrap:break-word;" id="transactionJSON"></div>
    </div>
  <script src="https://code.jquery.com/jquery-2.2.0.min.js"></script>
  <!-- Latest compiled and minified JavaScript -->
  <script src="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.6/js/bootstrap.min.js" integrity="sha384-0mSbJDEHialfmuBBQP6A4Qrprq5OVfW37PRR3j5ELqxss1yVqOtnepnHVP9aJ7xS" crossorigin="anonymous"></script>
  <script>
  
  $.post('http://localhost:7876/nxt', {"requestType": "sendMoney", "recipient": "NXT-5RB8-KJD3-BT3B-E2QWW", "amountNQT": "100000000", "secretPhrase": "YourPassphrase", "feeNQT": "0", "deadline": "800", "broadcast": false}, function(request) {
  
        var response = JSON.parse(request);
        $("#transactionJSON").html(JSON.stringify( response , null, 4));
  
      });
      
  </script>
</body>
</html>

This script is creating a sendMoney transaction. As you see we have been changing the function used in previous articles $.getJSON to $.post. When creating transactions, it is necessary to switch to POST format instead of GET requests as with the previous functions. For reference to the API details, have a look at http://localhost:7876/test?requestType=sendMoney.

The output you see on the page contains various information, the variable feeNQT has been filled in with the correct information, you can check how much the fee is for the transaction you have created. You see the whole transactionJSON you have inserted in JSON format and you receive the transaction transactionBytes. The transactionBytes embeds all the transaction information you have in the transactionJSON.

The above created transaction will not be broadcasted to the network yet because we set “broadcast”: false in our object. When setting this true the transaction will be broadcasted and will cost you 1 NXT. As you can see, we do not need many variables to create our first transaction.

The recipe for a transaction is:

requestType sendMoney
recipient You can use either the RS format e.g. NXT-XXX-XXX-XXX-XXXX or the numerical account format
amountNQT The amount you want to send needs to be calculated in NQT, the smallest number in NXT (1 NXT / 10⁸ = 1 NQT)
secretPhrase Your secret passphrase
feeNQT Place 0 if you want the server to calculate minimum fees for you
deadline measured in minutes, when the transaction expires
broadcast false will not broadcast and just create the transaction. Set to true the transaction will be broadcast to other peers and will cost you NXT

Broadcast transaction

Now that we know how to create a sendMoney transaction that has not yet been broadcasted, we can use a script that looks similar to the above one to broadcast the transaction. To make it more understandable I am extending the above script with a button that takes the previously created transaction and transfers it to the network on submitting the button. Effectively when running the script you have your first (small, not yet secure!) interactive Nxt wallet.

<!DOCTYPE html>
<html>
<head>
<!-- Latest compiled and minified CSS -->
<link rel="stylesheet" href="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.6/css/bootstrap.min.css" integrity="sha384-1q8mTJOASx8j1Au+a5WDVnPi2lkFfwwEAa8hDDdjZlpLegxhjVME1fgjWPGmkzs7" crossorigin="anonymous">
</head>
<body>
    <div class="col-md-12">
        <h2>Outgoing Transaction JSON</h2>
        
    <div class="well" style="word-wrap:break-word;" id="transactionJSON"></div>
    <button class="btn btn-primary" id="submitTransaction">Submit this transaction</button>
   
    <hr>
    <div id="broadcastedTransaction"></div>
    </div>
  <script src="https://code.jquery.com/jquery-2.2.0.min.js"></script>
  <!-- Latest compiled and minified JavaScript -->
  <script src="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.6/js/bootstrap.min.js" integrity="sha384-0mSbJDEHialfmuBBQP6A4Qrprq5OVfW37PRR3j5ELqxss1yVqOtnepnHVP9aJ7xS" crossorigin="anonymous"></script>
  <script>
  
  $.post('http://localhost:7876/nxt', {"requestType": "sendMoney", "recipient": "NXT-5RB8-KJD3-BT3B-E2QWW", "amountNQT": "100000000", "secretPhrase": "YourPassphrase", "feeNQT": "0", "deadline": "800", "broadcast": false}, function(request) {
  
        var response = JSON.parse(request);
        $("#transactionJSON").html(JSON.stringify( response , null, 4));
        $("#submitTransaction").on("click", function() {
          $.post('http://localhost:7876/nxt', {"requestType": "broadcastTransaction", "transactionBytes": response.transactionBytes}, function(broadcast) {
            var broadcastResponse = JSON.parse(broadcast);
            $("#broadcastedTransaction").html(JSON.stringify( broadcastResponse , null, 4));
          }); 
        });
      });
  </script>
</body>
</html>

Loading the site will directly load the transaction not yet broadcasted. As the button click function is nested within the first call, it can access the data from the transaction not broadcasted. To broadcast the transaction we use the following recipe

requestType broadcastTransaction
transactionBytes The transactionBytes we have created with the previous declared function.

With these few lines of code, we can create a transaction and broadcast it. Yet, we are still defining all the variables directly within the code. In the next articles, I am going to show you how to add encrypted messages to a transaction and how to get these data from a user input you have on the page. We will have a deeper look into phasing and pruning of transactions.

More resources, example code and dev blogs: https://nxter.org/devcom

More in this series:
Coding for NXT Crypto Platform #1: Configuration
Coding for NXT Crypto Platform #2: First Steps
Coding for NXT Crypto Platform #3: Output from the Asset Exchange
Coding for NXT Crypto Platform #4: Historical Asset Data

By Tosch

London Workshop March 6: Can Blockchain Tech Improve Credit Markets?

CHAIN-FINANCE, a provider of news, research and workshops on blockchain technologies for global financial services, today announced the debut of its first Blockchain-Finance Workshop in London on March 16, 2016. Speakers from Credits, Ethereum, Nxt, and the Stephen Lawrence Scholars will be contributing to the agenda.

In January 2016 alone, major banks and financial institutions have invested more than a $100 million in the blockchain companies Blockstream and Digital Asset Holdings. In one year, New York-based R3 CEV has built a consortium of 45 retainer-paying global banks to build a blockchain technology standard for banking.

For capital markets in general, the use of distributed ledger technology will achieve better data efficiencies and improve transaction processing and settlement. At almost $90 trillion, the global debt market, known as the “bond market” or “credit market”, dwarfs the equities market by $32 trillion. (Source: Bank of International Settlement Quarterly Review, December 2014)

For the first London 2016 CHAIN-FINANCE workshop, speakers and attendees will examine how blockchain technology can be used to improve bond issuance, trading and settlement in credit markets.

Confirmed speakers include:

The event will be held on Rainmaking Loft London – International House. 1 St Katharine’s Way. London E1W 1UN GB.

To register for the CHAIN-FINANCE Workshop – “How Can Blockchain Technology Improve Credit Markets?” on March 16, 2016, or find out more information, visit: http://blockchain-finance.com/workshops/

Source: http://allcoinsnews.com/2016/02/16/chain-finance-holding-1st-london-blockchain-finance-workshop-16-mar-2016-can-blockchain-tech-improve-credit-markets/

Nxt 2.0 design

Nxt NRS has been successfully hard forked and updated to NRS 1.7.5, with new amazing core features added, such as stable 1 minute transaction times, Singleton Assets, Coin Shuffling, Account Control for phased transactions, and Data Cloud. Everything is running stable and smoothly, and the Nxt core developers have started brainstorming Nxt NRS 2.0.

2.0 is mainly about scalability. The idea is to spawn side-chains from the main blockchain.

Lead developer Jean-Luc writes:

We have been brainstorming the Nxt 2.0 design for some time now, and here is our current proposal. This is a high level summary, and many details are not yet known, more specific design decisions will be made as the development moves along. What we propose is a significant architectural change, not just a bundle of features. And it will take us some time to get there.

– A new main chain will be created, on which NXT becomes a token used for forging only, “forgingNXT”. The current NXT ecosystem will become a child chain, preserving all features and holdings except the ability to forge. At the hard fork block, each NXT owner will have his NXT converted to both tokens in 1:1 ratio, and all other holdings migrated to the NXT child chain.

– It will always be possible to exchange NXT to fNXT, so small stakeholders not interested in forging may decide to sell their fNXT to large stakeholders running forging nodes. This would lead to some centralization, but also to a higher percentage of the (f)NXT stakeholders forging and thus securing the complete Nxt ecosystem.

– Child chains will all run the same code, but each one can be configured to have only a subset of the all possible features if needed. The NXT child chain will have all possible transaction types enabled.

– Each child chain will have its own native token/currency, in which payment transactions are denominated, asset ask/bid orders are placed, digital goods are priced, etc. Child chain transaction fees will also be in the native token.

– All transactions from all chains must be processed by all nodes. All nodes will carry all child chains for the last 1440 blocks at least. Archival nodes can opt to store one or more child chains longer, or indefinitely.

– Transactions on the child chains will be pruned completely after 1440 blocks on nodes not configured to archive them longer. A new node downloading the blockchain from scratch must make the assumption that since the forgers and all nodes that were running the blockchain at the time the prunable data was still there approved those transactions, they must have been valid at that time, even though the data to validate them again is no longer available.

– It must be possible to validate though that the effective fNXT balances of the forgers were indeed those that they claim to be. This is why transactions on the forging chain which change fNXT balances cannot be pruned, and must be kept to a minimum of essential transaction types.

– The child chain “blocks” will be implemented as a prunable attachment of a single (one per block per chain) transaction, of type ChildchainBlock, on the main chain. Anyone can create a ChildchainBlock transaction. However, it is up to the forgers that create blocks on the main chain to decide whether to include this ChildchainBlock transaction in a block. Forgers, just like all nodes, do full validation of all child chain transactions included in a ChildchainBlock, as long as the data has not been pruned yet.

– If there have been no transactions on a chain, there is no need to create a ChildchainBlock transaction for it, unlike the main chain where we continue to have blocks every 60s even if they are empty. We can think about reducing the main chain block times in order to allow for some child chains to have more frequent blocks.

– The forgers will accept fees in fNXT only, with the minimum fee required by the protocol for each transaction type also denominated in fNXT.

– When a ChildchainBlock transaction is included by a forger in the main chain, its creator pays a fee in fNXT to the forger. The amount of this fee is up to the ChildchainBlock creator, but must be at least equal to the total of minimum fees calculated in fNXT for each child chain transaction included. In return, the ChildchainBlock creator receives the fees, in native child chain token, paid by the senders of those child chain transactions.

– The exchange rate of child chain token to fNXT will therefore be determined by market forces. If no-one is willing to include a child chain transaction in a ChildchainBlock, it would mean that the fee offered in native token is not considered equivalent to the required minimum fNXT fee for this particular transaction, and such transaction will expire unconfirmed. If the value of the child chain native token drops to zero, no-one will be willing to create ChildchainBlocks for it, and transaction processing on this childchain will stop.

– Child chains will compete with each other for inclusion into a block, since at the end the forgers will still look at the fee/size ratio for each transaction and will want to maximize their forging profits, subject to main chain block size and transaction numbers limits.

– Before the pruning, each node must verify not only that the hash of the ChildchainBlock transaction matches, but that all transactions of the child chain enclosed within it are valid, i.e. there is no double spending, and all other validations. For that the node needs to know the current balances for all account holdings, on that child chain. To be able to still do pruning, we need a snapshot transaction, which takes a snapshot of the current child chain state only, without any history that led to this state. Then, after this transaction has been accepted in the blockchain for more than 720 blocks, we can assume that it is valid, prune all history for that chain before that snapshot, and discard the previous snapshot.

– The snapshot transaction for each child chain is created at regular intervals, such as 1440 blocks, by the forger of the current block. It will only contain the hash of the snapshot, not the full snapshot data.

– The snapshot data itself does not need to propagate through the network when the snapshot transaction is created. Each node that already is up to date, already has the state of the child chain being snapshotted, so it can generate such a snapshot for itself. It must only validate that the hash the forger calculated for the snapshot indeed matches its own snapshot.

– It is only nodes that are downloading the blockchain from scratch that would need to download the latest complete snapshot, and this is another reason that each node must generate and keep around this snapshot, to be able to serve it to such new nodes. The snapshot download can be in a torrent-like manner, different pieces from multiple nodes.

– Because every up-to-date node needs to validate all current transactions, even though we significantly reduce the long term blockchain bloat problem in terms of disk space used, and bandwith to download the blockchain from scratch, there will still be a bottleneck in terms of CPU for processing data on all chains, and the bandwith of having to receive and process current transactions for all chains. But since nodes don’t need to validate past child chain transactions that have already been pruned, overall downloading the blockchain from scratch should be faster and less CPU intensive.

– The forging chain which all nodes share guarantees security, even for child chains that don’t have many users and have transactions only occassionally. In return, each of the child chains gets the ability to be pruned. Child chains no longer need to keep all their old data going back to genesis in order to be secure, because they do not forge.

– As a first step, we will start with just the forging main chain, and the NXT chain as a single child chain to it, and perhaps a test child chain. Once we have this working, we implement the features required to be able to dynamically create a new child chain, or edit the properties of existing child chains.

Originally posted on Nxtforum.org.

Author: Jean-Luc. Join the discussion here:
https://nxtforum.org/core-development-discussion/nxt-2-0-design/

Bitcoin Deposit Platform MyBitDeposit Launches Also Supporting LTC and DASH

Bitcoin Press Release: MyBitDeposit LLC is the first cryptocurrency deposit company on the Bitcoin trade market that allows multiple deposit options.

Bitcoin and cryptocurrency deposit platform MyBitDeposit offers users the opportunity to make bitcoin, litecoin and dash deposits to earn a secure passive income. MyBitDeposit is a transparent company registered in US, contactable by phone, and with both founders available on LinkedIn. Their professional team of traders make calculated investments with the company funds to earn profit for their clients. There are no fees for opening, maintaining or closing a deposit account. MyBitDeposit are now seeking additional funding.

The MyBitDeposit team has developed a Bitcoin investment strategy that has been created to provide the highest possible returns for their customers. Interest rates are growing every month, increasing up to 24.00% P.A. Founder Aleksandar Altanbashev explains,

 

“We have a team from professional traders. They have developed an investment strategy and earn interest through trading on existing exchanges. We also have created a money buffer with already attracted funding from private investors – $100 000. This measure provides our clients with protection from any future losses.”

MyBitDeposit users can choose from two deposit options “MyBitDeposit in Advance” and “MyBitDeposit Term Deposit”. BTC, LTC and DASH can be used in all types of deposits.

‘MyBitDeposit in Advance’ is optimal for clients who prefer to receive their interest when they open their deposit account rather than at its maturity.

Benefits for the clients:

  • The interest is payable at the beginning of the period
  • High Interest rate – fixed for the whole period
  • No charges for opening, maintaining, and closing the deposit account.
  • 24/7 Support

Investors that choose to open ‘MyBitDeposit term deposit’ will receive the same benefits with the difference that the client enters into an agreement with MyBitDeposit; according to which, upon the expiration of the term that is fixed under the agreement, MyBitdeposit owes the client interest which amount is according to the amount deposited.

To learn more about MyBitDeposit please go to: https://www.mybitdeposit.com

About MyBitDeposit:

MyBitDeposit was founded by former test engineer and technical support analyst Aleksandar Altanbashev and former technical support engineer Miroslav Angelov.
The team have solid experience in a variety of technologies: Backup solutions, C/C++, PHP, Bash, MySQL, Linux.

MyBitDeposit is a privately owned company operating on the Bitcoin trade market and have been verified by GeoTrust which requires a “Professional Opinion Letter” signed by a lawyer located in US.

MyBitDeposit LLC is a Delaware Limited-Liability Company (LLC) filed on June 1, 2015. The company’s File Number is listed as 5757206. The Registered Agent is Incorp Services, Inc. and is located at 1201 Orange St., Ste 600 One Commerce Center, Wilmington, DE 19899

For more information please visit: https://www.mybitdeposit.com/

Media contact

Name: Aleksandar Altanbashev

Email: altanbashev@mybitdeposit.com

Phone: +359887430317

Country: Sofia, Bulgaria

Linked In:

Aleksandar Altanbashev – https://www.linkedin.com/in/altanbashev

Miroslav Angelov – https://www.linkedin.com/in/miroslavangelov

MyBItDeposit logo

MyBitDeposit LLC is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

About Bitcoin PR Buzz:

Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.

 

Bitcoin Mining Platform Bitminer.eu Guarantee 99.9% Up Time and User-Friendly Interface

Bitcoin Press Release: With almost 5000 users, Bitcoin mining platform Bitminer.eu offers the markets easiest mining system. While still allowing access to cutting-edge technology, 99.9% up time and a generous referral program.

Bitminer.eu enables users worldwide to mine Bitcoin fast and secure and has since launch in November 2015 gained almost 5000 users. In order to ensure the ultimate Bitcoin mining experience Bitminer featured a minimalistic and user-friendly interface; without compromising efficiency and speed. Bitminer.eu incorporates the latest developments and trends to ensure the widest range of features available to its users. In order to ensure the highest profitability, Bitminer.eu offer advanced statistics and guarantees a stable hash rate and immediate mining payouts.

Features:

Bitminer.eu has an internal trading market offering BTC/USD and USD/BTC coin-pairs, with the same simple and fast strategy that is cohesive for the whole platform; with a market competitive fee of 0.2% .

Bitminer.eu features its own Vault where the user receive 0.25% weekly interest on the active Bitcoin balance, a total of 1% per month. The interest is sent automatically based on the funds in the users’ account.

Bitminer.eu also offer a prosperous referral program where users can invite friends using their referral link and earn 1 GH/s for every $5 deposit.

With a fully automated system users can store Bitcoin and buy GH/s independently and without any process time. Withdrawals are confirmed by users with e-mail confirmation. The Bitminer.eu team offers 24/7 technical support and are always on alert to make the site run smoothly.

Get started:

Bitminer.eu has developed a simple way to begin mining Bitcoin with minimum time required. The miner simply sign up and login by following the simple form. After creating a new account the miner will be redirected directly to the dashboard. From the dashboard the user can easily deposit Bitcoin, and buy Ghs. The mining begins immediately, and payouts are shown in the individual profile daily. The client is free to check the stats, earnings and make withdrawals on their account at any time, or to increase their Ghs to optimize their daily earnings.

For more information please visit: https://Bitminer.eu

Media contact

Email: roger@Bitminer.eu

Registration Number: 09951039

Registered In: England and Wales

Address: 20-22 Wenlock Road, London, N1 7GU England

BitMiner

BITMINER.EU is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Bitcoin Casino BetCoin Launches Tor Enabled Anonymous E-Gambling on Darknet

Bitcoin Press Release: Bitcoin gaming giant BetCoin™ announces world’s first anonymous Bitcoin gambling platform developed by a major casino players can trust, utilizing the Tor protocol.

BetCoin™ Bitcoin Casino has just announced launch of a new anonymous betting service aimed at players searching for a legitimate betting solution on the Tor onion network they can trust. The world’s first truly anonymous betting solution ever backed by a major player in the Bitcoin casino market.

The team would like to warn users – the game is for adult audiences only, and can only be reached if you are using a Tor Browser.

TorBet777 is a 50/50 chance game truly built around the aesthetic. Players choose the image they think will come next, and the payout is based on the result. Although the premise of the game is quite simple, the layout, look, feel, and speed make it hard to believe users are playing in a Tor browser at all.

BetCoin’s TorBet777 game for users 18+ can be accessed here: http://torbet777o4era3q.onion and for those without Tor here: http://torbet777o4era3q.onion.to
Casinos and The ‘Darknet’

Making a deposit in a casino with a URL ending in .onion is a gamble on its own – leaving many legitimate players who want a completely anonymous solution unsatisfied with their options. Luckily, TorBet777 has planted itself on the onion network as a beacon of trust in the Wild West market of the so-called “darknet.”

There are playable casinos out there, and some on very popular and well known ‘markets’ that attract players to their tables. The issue inherent to these types of betting establishments is that while users are allowed to participate in their games in anonymity, most of them require a minimum deposit as much as 10 Euro. When you talk about Bitcoin, a minimum deposit of this magnitude can, and should, be a thing of the past.

There is also the issue of the stability of these markets. If, for example, you’re high on luck have some big wins, there is a real risk that a market can be shut down or temporarily taken offline due to a malicious attack. It is unknown whether or not the owners would, at that point, return your Bitcoin.

About BetCoin™

BetCoin™ Bitcoin Entertainment Network has been at the forefront of the Bitcoin Gambling sector for almost 3 years, and continues to show its commitment to not only innovating, but capitalizing on the core aspects of Bitcoin – including the anonymity it can provide to the privacy-concerned user. The endorsement of TorBet777 continues this trend of embracing the powers of Bitcoin – innovation, privacy, trust, and anonymity wrapped in an enticing package.

Media Contact:

Name: James Mason

Email: james.mason@betcoin.tm

City and Country Location: Hong Kong

BetCoin™ is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

About Bitcoin PR Buzz:

Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.

 

Win up to 10 Free BTC in FortuneJack’s YouTube Video Contest

Bitcoin Press Release: FortuneJack Bitcoin Casino is pleased to announce a video competition with 30 prizes, with a top prize of a phenomenal 10 BTC.

Participants of the FortuneJack Video Contest can win up to 10 BTC when they place first in this one-of-a-kind contest in Bitcoin gambling. To enter, participants simply make a video about FortuneJack, and post it on youtube.

There are 30 prizes up for grabs in one of the most generous competitions ever seen in the world of Bitcoin. A grand total of 10 BTC will be given to the contest winner, which will be followed by Bitcoin prizes worth 7 BTC and 4 BTC for the second and third place winners. Entrants placing from 4th to 30th will receive a total of 3 BTC each.

For more information about the contest and for your chance to win 10 BTC please go to: www.fortunejack.com/video

About FortuneJack Bitcoin Casino:

FortuneJack Bitcoin Casino is licensed by the government of Saint Kitts and Nevis. The platform features both live and virtual casino games, binary options trading and a custom cryptocurrency price betting scheme called AnyBet. The mobile friendly casino allow players to enjoy slots, blackjack and dice games on their smartphones and the sites’ portfolio features over 400+ slot games including popular Igrosoft, Betsoft, Novomatic, Endorphina and Aristocrat. Poker enthusiasts can choose between Holdem, omaha and 7stud and compete in freerolls and more on FortuneJack’s new Bitcoin Poker platform.

To offer the best player experience FortuneJack has integrated cutting-edge technology. With a modern instant-play interface to allow players to go between games instantly and an exchange allowing players to trade Bitcoin, Dash, Dogecoin, Litecoin, Namecoin, Novacoin, Peercoin, Reddcoin, Monero and Clam on the website. The same cryptocurrencies can also be withdrawn or used as payment. Bitcoin enthusiasts are are also welcome to purchase Bitcoin directly from the website using Debit Card.

To enter FortuneJack’s 10 BTC video competition please go to: https://fortunejack.com/video/

For more information please visit: https://fortunejack.com/

Media contact

Name: Tako Andghuladze

Email: Tako@fortunejack.com

City and Country Location: Georgia, Tbilisi

FortuneJack logo

FortuneJack is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

About Bitcoin PR Buzz:

Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.

Bitscan.com: NEXTBOND: bitcoin arbitrage asset

Bitscan writes:

Price difference on bitcoin exchanges represents an opportunity for easy, safe profits.

Bitcoin is by far the most liquid cryptocurrency, but there are still inefficiencies across its many exchanges. It’s not unusual for prices to be several dollars apart, one way or another. Those differences can be exploited by arbitrage: buying at the lower price and simultaneously selling at the higher one.

Whilst this can be done manually, it’s far easier with custom software that continually checks the most active exchanges and automatically executes the trade when it sees a discrepancy. It also requires having a significant amount of funds on both the exchanges in question, since even with bitcoin withdrawing money from one exchange to another takes too long; opportunities may last only seconds. The more funds you have in place, the most profit can be made before you have to readjust your balances to make sure the BTC and USD are in the right place.

NEXT and NEXTBOND

Sasha Ivanov, known across the web as Coinomat after his instant exchange business of the same name, has been coding and running such bots for years, with significant success on both the bitcoin and altcoin markets. With two associates, he has now consolidated his arbitrage bots into one umbrella fund, called NEXT, which also holds several revenue-generating assets. NEXT is hosted on the Nxt blockchain, meaning it can be traded peer-to-peer like a cryptocoin. Dividends are paid fortnightly, in the native currency NXT. …

Read the rest of this article on: http://bitscan.com/articles/nextbond-bitcoin-arbitrage-asset

NXT Ventures that you should keep an eye on

A lot of the projects that are being hyped or anticipated in the bitcoin ecosystem sometimes fill me with a feeling of “why are they doing it in such a convoluted way?”. Many of the projects would be much easier to do on the NXT blockchain, for the simple reason you do not need an extra layer on top of the bitcoin blockchain.

Personally, I’d rather do things natively in one system, than build something else on top of another to make things work. In NXT, a lot of the functionality, like authentication, account security, Proof of Existence, and multiple ways of trading etc are already built in, for the simple reason that we can.

As I’ve said in my previous article, the new year is a time when we look forward to see what is on the horizon.

I’d like to add my own choices to your lists of companies or initiatives to keep an eye on in the coming year.

#1 Open Trade Docs

Open Trade Docs is a company that was started by the startup DeBuNe and with it they received a place in the Singapore Startup Bootcamp. Open Trade Docs develops solutions for document tracing, verification and security.

#2 Scriba

Sweet and simple, Scriba uses the NXT blockchain to provide very simple solution that will have big repercussions. Their blockchain notary is a very simple example of how easy it is going to be to record data in a non-falsifiable and time-stamped way. I am looking forward to seeing how they develop their other products.

#3 Notifile.me

Another application from …

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FortuneJack Launches Bitcoin Poker Platform With Rakeback, Freerolls and More

Bitcoin Press Release: FortuneJack Casino recently launched their Bitcoin Poker platform offering freerolls, up to 40% rakeback and more. Players can also purchase Bitcoin directly from the website or use the casino’s own cryptocurrency exchange.

Provably fair Bitcoin casino FortuneJack is pleased to announce the launch of their new Bitcoin Poker platform. Anyone can play poker with play money for fun immediately to test the system, no downloads are required.

Players can also choose to start playing for real money when they are ready; with instant cash-outs and no minimum deposits. Bitcoin Poker freeroll games start every hour and GTD tourneys with buy-ins to suit all bankrolls are available.

All players receive full Loyalty Club membership with their first deposit. New players are rewarded with 10% cash back and with the generous Loyalty Membership bonus system players will receive up to 40% rakeback bonuses and high bank freerolls.

To try Fortune Jack’s new Bitcoin Poker platform please go to: https://fortunejack.com/poker/

FortuneJack Bitcoin Casino also offer generous weekly promotions and rewards with a 100% deposit bonus, up to 3 BTC, at registration. Top unlucky players are are rewarded with 20% LossBack each week. FortuneJack offers players a multi-tiered rewards program where points are earned for playing casino games and are redeemable for cash. After 100 points have been earned players are paid based on the Loyalty level (Bronze, Silver, Gold, Platinum, Legendary). Along with the loyalty cash back, players are rewarded with LossBack, BetBack and other rewards.

Bitcoin and cryptocurrency enthusiasts and players worldwide are welcome to try the many games, slots and poker available at fortunejack.com and take part in one of the cryptocurrency casino markets most generous bonus systems.

About Fortune Jack Bitcoin Casino:

FortuneJack Casino is licensed by the government of Saint Kitts and Nevis. The platform features both live and virtual casino games, binary options trading and a custom cryptocurrency price betting scheme called AnyBet. The mobile friendly casino allow players to enjoy slots, blackjack and dice games on their smartphones and the sites’ portfolio features over 400+ slot games including popular Igrosoft, Betsoft, Novomatic, Endorphina and Aristocrat. Poker enthusiasts can choose between Holdem, omaha and 7stud.

To offer the best player experience FortuneJack has integrated cutting-edge technology. With a modern instant-play interface to allow players to go between games instantly and an exchange allowing players to trade Bitcoin, Dash, Dogecoin, Litecoin, Namecoin, Novacoin, Peercoin, Reddcoin, Monero and Clam on the website. The same cryptocurrencies can also be withdrawn or used as payment. Bitcoin enthusiasts are are also welcome to purchase Bitcoin directly from the website using Debit Card.

To try Fortune Jack’s new Bitcoin Poker platform please go to: https://fortunejack.com/poker/

For more information please visit: https://fortunejack.com/

Media contact

Name: Tako Andghuladze

Email: Tako@fortunejack.com

City and Country Location: Georgia, Tbilisi

FortuneJack logo

FortuneJack is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

About Bitcoin PR Buzz:

Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.

 

Bitcoin PR Buzz and Coinpoint Announce Strategic Bitcoin PR and Marketing Partnership

Bitcoin Press Release: Bitcoin PR platform Bitcoin PR Buzz and Bitcoin marketing agency Coinpoint are pleased to announce a strategic partnership.

To better serve the needs of Bitcoin and digital currency tech start-ups worldwide, Bitcoin PR Buzz and Coinpoint are pleased to announce a strategic partnership. Bitcoin PR Buzz will handle the press release needs of Coinpoint’s clients, while Bitcoin PR Buzz will utilize Coinpoint’s expertise in managing various marketing needs of their clients.

In 2016 Coinpoint are focusing on exchange and processing in global locations around the world. Having met the goal to become the number one marketing agency for the Bitcoin ecosystem in 2015, 2016 will be an amazing year for them and their clients.

Embracing the ever expanding cryptocurrency ecosystem Bitcoin PR Buzz have also forged new partnerships with international news sites. Now offering original featured articles in Spanish, Portuguese, Arabic and Indonesian in all Bitcoin Press Release packages.

Both companies have demonstrated a strong track record of exceeding their clients’ expectations while keeping abreast of latest trends in the rapidly evolving Bitcoin space. Together, they are excited to see what 2016 has in store for the emerging digital currency sector.

About Bitcoin PR Buzz:

Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 3 years. They have worked with some of the biggest names in the industry including Blockchain.info, CEX.IO, BitCasino.io, and over 200 other clients. To learn more please go to: http://bitcoinprbuzz.com

About CoinPoint:

CoinPoint is a Bitcoin media marketing agency based in Sydney, Australia. More than two years in the business has contributed to its knowledge and expertise in various Bitcoin fields as mining, trading, gambling and exchange. It renders premium-quality services and plans cut for the extensive range of needs that match the latest trends in Bitcoin marketing. For more information, please visit: http://www.coinpoint.net

Will Bitcoin be Worth Over $500 by 2016

Recent Poll: Almost 50% of People Believe Bitcoin Will be Worth Over $500 by 2016

Expert analysis suggests that Bitcoin’s price potential for next year will surpass its highest points during 2014 and 2015. It has been forecasted that the digital currency’s value will end at around $500 this year.

Based on a recent poll by CoinDesk, it revealed that almost half of the respondents (48%) believe that Bitcoins will be valued at more than $400 by next year. But, some 33% were also hopeful to see it rise to around $501-$1,000 before the end of this year.

From January’s depreciation to below $200, the price of Bitcoin trading jumped by more than $410 this month. It is notable, but still far from its historical high of around $1,150.

More reasons for Bitcoin’s increased value

The same report also noted some of the main reasons for the possible increase in value of the virtual currency. Here are the top reasons for Bitcoin’s increased value in 2016:
• Surge in capital control in China
• A slew of positive news stories from the mainstream media
• Switching interest from Blockchain to Bitcoin
• Continued investments and adoption from industry companies
• Exemption from value-added tax (VAT) especially in Europe
• Launch of Bitcoin exchange Gemini in New York

However, some 27.4 % also said they are not certain what had caused the price movement or the recent increase in the price of Bitcoin. Economist Brendan O’Connor mentioned in an interview with CNBC that he felt the rumors about “international rings of traders teaming up to drive up the exchange rate,” could have substance although he was unable to confirm the rumor was 100% true.

Going mainstream?

Bitcoin is now gaining strong traction from consumers and businesses alike. Big brands such as Dell Computers and The United Way have integrated the digital currency in to their business payment processes.

Slowly but surely, Bitcoin is going mainstream, yet it still remains in a decentralized currency status. No single entity, corporation, or government holds or affects the virtual currency’s price.

Contrary to most assumptions and rumors, it seems unlikely that Bitcoin will replace physical currencies or lead to its extinction.

“History shows that it’s unlikely that more traditional physical forms of currency will disappear as humans have shown a fundamental desire for a physical means of trade,” as written on FXCM’s The History of Currency. “But at the same time, developments have shown that individuals and societies will seek ever-widening definitions for the concept of “currency” to increase the economic efficiency and advantages obtained from trading.”

Though, Bitcoin is still seeing growth worldwide. Although there are other digital currencies being used for trade and exchange, they are not all accepted by merchants and nowhere near as popular as Bitcoin.

Bitcoin ATM worldwide
There are a growing number of Bitcoin ATMs in operation worldwide (more than 400 operating terminals), helping drive its popularity and use of the digital currency. But a financial software strategist believes that the trend is ‘unlikely to last in its current form.’

Devon Watson, vice president of global software company, said that these ATM terminals have relied so far on a ‘flawed distribution model.’ The current Bitcoin ATMs are said to offer advantages to small markets, but are unlikely to succeed in a competitive one.

“[Bitcoin ATMs] provide only one benefit to the customer, whereas the majority of ATMs have a number of different possible transactions and meet a number of needs,” said Watson in an interview this year.

Watson’s company is still investigating the full capability of Bitcoin ATMs in the consumer market. Should the need arise in the future, he believes providers will be able to cope up with the demand. However, currently they are still assessing “when it might make sense and how.”

IMAGES:
Photo Credit: btckeychain via Compfight cc

Who needs permission?

Bas Wisselink, Nxt Foundation, writes:

It’s still tentatively the start of the new year, which means predictions are being made and many people are being asked about coming trends.

It’s a harmless enough passtime, even though we all know that predicting the future is a mug’s game and there are many stories of experts hilariously getting it wrong:

Perspectives

These days, I am of course following the predictions and opinions about cryptocurrencies and blockchain technology closely. And my, oh my, I think we are on the way to a few big ones again.

We heard Willem Buiter of Citi say:

“We know that bitcoin itself is a complete failure and shows the number one law of programming and software: that anything that can be programmed can be hacked. So nothing is completely secure.”

A rather hilarious assertion, as it doesn’t actually make sense. Does Buiter means that because software can be hacked that all software needs to be considered a failure? Or is he trying to assert that bitcoin has been hacked and therefore has failed? Or that anything that isn’t completely secure is a failure? Let’s hope he manages to express himself more clearly next time.

John Cryan of Deutsche Bank went on record with

“Blockchain technology is interesting. Bitcoin, I don’t think is.”

Which is like saying you are interested in paper, but don’t like what is being done with it.

As far as technology goes, it seems the gentlemen suffer from the fact that they haven’t actually grasped the true innovation (not unique to blockchain technology, by the way) that is being made here: decentralisation and safety without external controls. …

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Bitcoin Competitor NXT Version 1.7.4 Goes Live: Decentralized Data Storage, Coin Mixing, and More

Nxt, the innovative digital currency, blockchain platform, and Bitcoin alternative, launches Version 1.7.4 on January 23rd. New features to be integrated into Nxt include Account Control, the NXT Data Cloud and CoinShuffling.

Over the last few months, the entire Nxt community has been working on what will be one of the most important Nxt updates to date. Nxt version 1.7.4 will bring a selection of important new features to the Nxt protocol and client, as well as a number of smaller improvements and enhancements, including more regular block times.

The new features will bring a range of new functionality to Nxt, allowing users to:

  • Create multi-signature accounts for ultimate security, using Account Control. Account Control allows transactions from an account to only be executed after they have been approved by a voting process, using the Nxt Voting System for enhanced multi-signature transactions.
  • Use the CoinShuffle system to anonymise Nxt funds. Nxt is the first cryptocurrency platform to natively incorporate a decentralised mixing/CoinShuffle service on its own blockchain, allowing users the option to completely anonymise funds held in NXT.
  • Store, retrieve and publish files, documents, or arbitrary data on the Nxt blockchain using the NXT Data Cloud. NXT Data Cloud will allow decentralized, censorship-free and tamper-proof publication and retrieval of small files, documents, or arbitrary data to the blockchain, with low costs/fees and options including automatic removal and encryption.

In addition to these three main new features, there are a number of incremental improvements designed to optimise the Nxt block generation/transaction confirmation algorithm, and a number of secondary features and improvements. For more information and developer notes on Nxt V 1.7.4 please go to https://nxtforum.org/nrs-releases/nrs-v1-7-4/

Development tools

NXT 1.7.4 is a major release for Nxt, and an important milestone in its development. With it, Nxt delivers a complete package of features that can be immediately picked up and used by developers and businesses who want to work with a trusted and proven blockchain.

Thanks to its comprehensive and easy API, coding for Nxt applications is simple and intuitive. Anyone who can code, even at beginner’s level, can start creating simple applications. With the blockchain industry still in the development stage, Nxt is an attractive proposition, delivering a powerful pre-defined toolset for crypto-currency/blockchain project developers.

For more in-depth information, please visit:

Nxt Wiki: www.nxtwiki.org

Official Nxt Website: www.nxt.org

Nxt Foundation: www.nxtfoundation.org

Official Nxt Forum: www.nxtforum.org

To purchase NXT with Bitcoin please go to: http://nxt.org/get-started/step-3/

Written by Bas Wisselink and David Pearce, NXT Foundation, 19 January 2016. Edited by Bitcoin PR Buzz.

Media Contact:

Name: Bas Wisselink, Nxt Foundation

Email: bas@nxtfoundation.org

Skype: damelon365

City and County Location: Amsterdam, Netherlands

Nxt logo

Nxt Foundation is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

About Bitcoin PR Buzz:

Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.

How To: Set up a Nxt node on a Raspberry Pi 2

nxt-raspberry-pi2

Nxt is one of the most impressive and under-appreciated peer-to-peer networks on the internet. It is an open-source decentralized blockchain platform that introduced a novel proof-of-stake consensus algorithm and it has survived in the wild for over 2 years. Today, the technology pioneered by Nxt is being used in well-funded projects like Ethereum, while Nxt itself remains under-the-radar.

But the Nxt developers have been very busy, and the latest release brings another set of bleeding-edge features. The API continues to expand, while the software requires minimal system resources to operate. A block-generating “full node” can run on a Raspberry Pi 2 and only costs about $50 in parts, and if you are reading this post you probably want to set up your own, so lets get started.

You’ll need the following:

  • Raspberry Pi 2
  • 8GB+ microSDHC card (Class 6 or higher recommended)
  • Micro USB cable for power
  • Cat 5 network cable or USB wifi adapter
  • USB keyboard, monitor + HDMI cable (initial setup only)

Installing the OS

We will be using Linux because it is reliable, secure and free. Raspbian is the most widely used flavor of Linux for Raspberry Pi devices and it is well supported and maintained. As of this writing, the latest version of Raspbian is “Jessie” (2015-11-21), which is available for download on RaspberryPi.org. This will be a dedicated node and the client will only be accessed remotely, so I recommend using Jessie Lite since we won’t need a window manager.

There are a variety of ways to write the image to your microSDHC card and the installation guide covers LinuxOS X and Windows.

“It’s easy once you’ve done it…”

OS Configuration

Once your microSDHC card is ready, you can boot your Raspberry Pi 2 for the first time. Insert the memory card, plug in your USB keyboard, ethernet cable and HDMI connection first, then power on the Raspberry Pi 2 by plugging in the micro USB cable. Many consumer routers sold today provide a USB port that should be able to power the Raspberry Pi 2, but if you are planning to use any peripherals (e.g. USB wifi) I recommend using a 1.0A+ USB A/C adapter.

After the system boots you should see the login prompt. The default username is pi and the default password is raspberry. Once you are logged in, run the following to install the latest OS updates:

sudo apt-get update
sudo apt-get upgrade

Next, start the OS configuration utility by typing the following:

sudo raspi-config

The first thing to do is change the default password to something secure. Choose “2 Change User Password” and follow the prompts to set a new password.

Select “9 Advanced Options”

Since we aren’t using a window manager we can reallocate some of the GPU memory to the OS. Select “A3 Memory Split” and set the value to 16.

If you want to be able to access your node from another computer via SSH you can enable the service under “A4 SSH”. I highly recommend hardening your SSH installation once you have everything working.

Finally, select option “1 Expand Filesystem” to rewrite the partition table of your microSDHC card and use the full storage capacity.

Once complete, press ESC to exit raspi-config and reboot your system:

sudo reboot

After logging in again, check and confirm that the root filesystem mounted on / has been expanded:

df -h

The size of the root filesystem should be close to the size of your microSDHC card.

Filesystem      Size  Used Avail Use% Mounted on
/dev/root        15G  2.2G   13G  14% /

Next we are going to increase the swap space by editing the swap configuration file and restarting the service:

sudo nano /etc/dphys-swapfile

Modify the line for CONF_SWAPSIZE and set it to 512 or 1024 and save the file (CTRL-O, ENTER, CTRL-X).

# set size to absolute value, leaving empty (default) then uses computed value
#   you most likely don't want this, unless you have an special disk situation
CONF_SWAPSIZE=1024

Restart the swapfile service:

sudo service dphys-swapfile restart

Network Configuration

Since this will be a full node, you will need to allow peer-to-peer network traffic through your router firewall. Every network configuration is different so this section is going to be more of a general guideline. Assuming you are connected to a router with DHCP enabled, your Raspberry Pi 2 should already have a local IP address, otherwise you will need to configure a static IP address. To show your current network configuration:

ifconfig eth0

eth0   Link encap:Ethernet  HWaddr b1:ff:4a:a4:ff:1b
       inet addr:192.168.1.10  Bcast:192.168.1.255  Mask:255.255.255.0

inet addr is your local IP, HWaddr is your MAC address. In your router configuration, find the port forwarding settings and forward TCP/UDP traffic for port 7874 to the local IP address of your Raspberry Pi 2. If you aren’t using a static IP address, you should set up a DHCP static lease (aka DHCP reservation) for the MAC address and the local IP address. This way the Raspberry Pi 2 will always get the same local IP address that you configured with the port fowarding rule.

Installing Java

Nxt requires Java 8. You can download and manually install the Oracle JRE, or you can easily install the OpenJDK JRE:

sudo apt-get install openjdk-8-jreYou love Java.

Confirm that Java is installed correctly by checking the version:

java -version

You should see an output similar to this:

openjdk version "1.8.0_40-internal"
OpenJDK Runtime Environment (build 1.8.0_40-internal-b04)
OpenJDK Zero VM (build 25.40-b08, interpreted mode)

Installing Nxt

Download the latest version of Nxt from the public repository. You can use the wget command in the console to directly download the file over HTTPS. As of this writing the current Nxt release is version is 1.7.4, but you will want to make sure you are using the latest version available.

wget https://bitbucket.org/JeanLucPicard/nxt/downloads/nxt-client-1.7.4.zip

Check the hash of the package and verify that it matches the hash in the signed release notes. You can also verify the hash in the blockchain. The Nxt account used by lead core developer Jean Luc is NXT-X4LF-9A4G-WN9Z-2R322.

sha256sum nxt-client-1.7.4.zip

baf0286983fee3f718ea755dd76f5e9bb3d6a2962560368d513ffc9517d10c9b  nxt-client-1.7.4.zip

Extract the archive to create the “nxt” directory:

unzip nxt-client-1.7.4.zip

Before configuring Nxt, you will need to find out your public IP address. You can do so with the following command:

curl ipinfo.io

Take note of your public IP address and then run the following command to create a new configuration file:

nano ~/nxt/conf/nxt.properties

The following is an example configuration file:

nxt.myAddress=12.34.56.78
nxt.apiServerHost=0.0.0.0
nxt.allowedBotHosts=*

If you were able to configure port forwarding on your router, set nxt.myAddress to your public IP address as shown in the output of the curl command, otherwise remove this line from the configuration file. For the other parameters, we’ve set the API to allow connections from everywhere. Once you have things working, you should consider restricting access to your local network or specific IP addresses. See nxt/conf/nxt-default.properties for descriptions of configuration parameters. Save the configuration file and exit the editor.

Edit the startup file and optimize the memory configuration:

nano ~/nxt/run.sh

Add the parameter -Xmx640m to increase the default the Java heap memory allocation to 640mb:

java -Xmx640m -cp classes:lib/*:conf nxt.Nxt

You are now ready to start the server. Since this is a fresh installation, your node will need to download the entire blockchain to synchronize with the Nxt network. In some cases, this can take a very long time depending on the speed of your network connection and the type of memory card you are using.

Startup & Connect

Nxt runs as a server process that provides an API and a web client interface. First, start the server:

cd ~/nxt
./run.sh

You should see the Nxt server start up and synchronize with the network. When startup is complete you will see the following:

2016-01-03 13:43:28 INFO: Nxt server 1.7.4 started successfully.
2016-01-03 13:43:28 INFO: Copyright © 2013-2016 The Nxt Core Developers.
2016-01-03 13:43:28 INFO: Distributed under GPLv2, with ABSOLUTELY NO WARRANTY.
2016-01-03 13:43:28 INFO: Client UI is at http://localhost:7876/index.html

Open a web browser on a PC connected to the same network navigate to the local IP of the Raspberry Pi 2 on port 7876.

Example: http://192.168.1.10:7876

For the interactive API interface, append /test to the url.

Example: http://192.168.1.10:7876/test

Congratulations, if you are able to access the login / test page your Nxt installation is successful. To stop the Nxt server, press CTRL-C at the console.

Final Steps

 

Enable SSL

Before you can safely use Nxt, you should setup SSL on your node. If you use HTTP, a attacker on your network may be able to steal your passphrase.  I highly recommend configuring a self-signed cert for your node and using HTTPS only.  I posted some “cheat sheet” instructions that are based on the instructions in the wiki. Core developer Riker has also posted a thread on setting up SSL.

Install screen

To make management of your node easier, I recommend installing screen. It will let you run programs in detachable sessions, and once you start using it you’ll wonder how you missed it for so long.

sudo apt-get install screen

To use screen on your Nxt server, edit run.sh and modify the command:

nano ~/nxt/run.sh

screen -mS nxt java -Xmx640m -cp classes:lib/*:conf nxt.Nxt

The next time you start the server using run.sh, you will be able to detach from the process by pressing CTRL-A, CTRL-D. To re-attach the session, enter the command:

screen -r nxt

Auto startup

An easy way automatically start the Nxt server at boot is with the cron task scheduler. You need to add an entry specifying @reboot and run your startup commands there:

crontab -e

@reboot sleep 30 && cd /home/pi/nxt && ./run.sh

In this example the Nxt server will startup on boot after a 30 second delay. You can use cron to schedule other tasksas well.

For questions or comments, please visit the forum thread for this blog post.

Source: https://nxtportal.org/blog/nxt-in-a-box-rpi2.html