NXTER.ORG

Announcement: Nxt 1.8 features

The work on Nxt and the Nxt NRS client continues. The Nxt core developers have just sent a list of the new features which will be implemented in the upcoming 1.8 release, expected to be released in April.

  • Desktop Wallet

    Run the client wallet as a desktop application.

Riker writes:

Until now when starting the NXT server, the user had to wait for the server to start, then open a browser and point it to http://localhost:7876 to start the browser wallet.

Starting from this release, starting the NXT server would immediately launch a desktop wallet application based on the same design of the browser wallet.

See: https://bitbucket.org/JeanLucPicard/nxt/issues/338/desktop-wallet

  • Account Monitor

    Server side component which automatically funds specific accounts based on various criteria to make sure the account owners always poses enough NXT to transact.

ScripterRon comments:

You can monitor Nxt, Asset or Currency.

When a monitored account balance becomes less than the threshold amount, a transfer transaction is initiated to transfer Nxt/Asset/Currency from the funding account to the monitored account.

Multiple account monitors can be active.  Monitored accounts are identified by an account property.  The account property must be set by the funding account owner.

  • Wallet home customisation

    Open the wallet on a specific page or modal.

Riker writes:

This feature enables linking into a specific page or modal of the client web wallet from an external web site or link.

For example, connecting to: http://localhost:7876#account=NXT-22222-…&modal=send_money_modal&recipient=NXT-33333

would log in as account NXT-22222 open the standard “Send Money” modal and pre-populate the recipient field with the value NXT-33333

See: https://bitbucket.org/JeanLucPicard/nxt/issues/320/start-the-client-on-a-specific-page-or

  • Add-Ons

    Simple server side plugin framework

Join the Nxt 1.8 conversation on nxtforum:
https://nxtforum.org/general-discussion/upcoming-features-in-1-8-release/

In parallel with the above, Nxt lead-dev, Jean-Luc, has started working on the Nxt 2.0 design.

Read more about the Nxt 2.0 design proposal:
http://test.nxter.org/nxt-2-0-design/
http://test.nxter.org/nxt-2-0-design-proposal-should-investors-and-asset-issuers-be-afraid/

Comments and ideas for the Nxt 2.0 design can be posted in
https://nxtforum.org/core-development-discussion/nxt-2-0-design/

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/

Thoughts about hard forks

The Nxt core development team as well as the Nxt community are eagerly awaiting the Nxt 1.7 hardfork, which will unleash new Nxt core features. Meanwhile, the long time Bitcoin supporter and developer Mike Hearn has caused open chaos in the media and inside the Bitcoin world, leaving the Bitcoin dev team and not only slamming the door on his way out but also proclaiming openly that the entire Bitcoin “experiment” has failed. Riker, Nxt core developer, adds his personal point of view to the case. 

Riker writes:

Dear notoriously decentralized community,

As we are sitting and waiting for block 621,000 and the imminent 1.7 hard fork, I’d like to share some thoughts about the state of Bitcoin, NXT and life in general.

Last week Mike Hearn shook the Bitcoin world with his post  https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.gkdlkio80 about the failure of Bitcoin. To start with, I admire Hearn’s work, he is truly a legendary developer and his projects has vastly contributed to the Bitcoin world.

From his blog post I take two conclusions:

1. Technically, Mike is right, Bitcoin cannot reach its full potential without being able to perform a hard fork from time to time based on changing market conditions. Even IBM still updates the core of its mainframe operating system Z/OS and requires businesses to upgrade.

In my view the suggested “segregated witness” solution which was proposed as an alternative to the Bitcoin XT block size increase, is hundred times more complex and risky and would just achieve a temporary solution.

In NXT we embrace change, and use planned hard forks which enable us to innovate and advance the blockchain, something that Bitcoin can’t do.

But we can’t do it without you, if you are running a node and have not yet upgraded to 1.7.4 please do so IMMEDIATELY, the upgrade is simple and we are ready to help you.

If you are running a business which relies on NXT, you must upgrade to version 1.7.4 before the fork, the API changes are minimal and they are documented in the “Incompatible changes” section of the changelog.

2. Regarding Hearn’s “piss into the well from which you drink” mentality. The man built his career and reputation from Bitcoin which also got him a nice corporate job in R3 and now he is bashing Bitcoin this way (regardless of the fact that he is right). This is something I find inexcusable.

As a NXT core developer I take it for granted that sometimes my opinion is not accepted, however, under no circumstances I would go public and bash NXT the same way that Mike has done with Bitcoin.

This post was originally posted on nxtforum.org.

Join the discussion here:
https://nxtforum.org/general-discussion/thoughts-about-hard-forks/

SkyNxt – Android app, In browser App

SkyNxt is a Nxt Android client and in browser app, which enables you to use certain Nxt features such as Send and receive NXT, see your transaction history, trade on the Nxt Asset Exchange, use the decentralised voting system, and send encrypted/unencrypted messages via the Nxt blockchain.

SkyNxt writes:

We have created a mobile application that connects to Nxt Blockchain and user will be able to perform following actions:
1. Send Nxt to recipient
2. Trade in Nxt AE.
3. View basic account transaction history.
4. Voting
5. Messaging (prunable yet to be supported)

The code is open source and can be found here
https://github.com/skynxt/SkyNxt.github.io

Android app is beta version and can be downloaded from here
https://build.phonegap.com/apps/1553586/share
Android app supports scanning NXT QR code address feature.

Run in Browser from following link:
https://SkyNxt.github.io/www
TIP: While running from browser make sure you unblock parts through in address bar to detect peers automatically.

Run application by downloading source code:
https://github.com/skynxt/SkyNxt.github.io/archive/master.zip
Unzip after downloading and open index.html in the browser.

Since application may have bugs, & issues. If you find bugs\issues please submit here
https://github.com/skynxt/SkyNxt.github.io/issues

All transactions are signed locally before broadcasting. Your passphrase doesn’t leave the device.
When you are installing the app for the first time, it will take 2-5 mins to discover peers and UI may be unresponsive during searching peers.

Originally posted on Nxtforum.org.

Author: SkyNXT. Join the discussion here:
https://nxtforum.org/news-and-announcements/skynxt-android-app/

SuperNET to take over MyNxt hosting and development

MyNxt.info is a long time and widely appreciated Nxt service site, which offers an online- and mobile- wallet, Nxt wallet plugin system, blockchain explorers, account alert service and much more. MyNxt.info has been run by abuelau, but was recently passed on to SuperNET. This brings new development, such as a general overhaul of services, updating them to the run on the latest NRS, and also integrating SuperNET developments such as the Multigateway and InstantDEX as wallet plugins. Tosch and VanBreuk will be the ones operating and developing the site on behalf of SuperNET.

VanBreuk writes:

We aim to do more than keeping a good service working: we want to make MyNxt an essential tool for everyone in the Nxt community, and other crypto communities active in SuperNET and beyond.

For this, we want to invite everyone to bring on their feedback about suggestions and improvements for MyNxt.

Since MyNxt now works under the SuperNET infrastructure, there will be new life for MyNxt in the Asset Exchange (asset ID 2176003302076381931).

This is the first news release for the NxtForum community:



From November, SuperNET will manage the MyNxt project, including the Block Explorer, Online Wallet and NxtAd service.

1 November 2015

SuperNET is to take over Nxt wallet and block explorer initiative, MyNxt.info, with immediate effect. The servers have already been migrated into the SuperNET infrastructure, and the lead development and operation are now in hands of Tosch and VanBreuk. Both have been involved in the Nxt community since its early days: Tosch as developer of php/js/python applications and VanBreuk as forum administrator and technician for several projects, including the Nxt Wiki and the Multigateway.

Block Explorer

One of the greatest advantages of cryptocurrencies is that, while being available to anyone and offering a strong level of anonymity when used correctly, the blockchain remains fully transparent. Besides offering its Online Wallet and other tools, MyNxt provides a powerful overview of blockchain transactions on the Nxt network, and will do the same for other cryptocurrency networks in the future.

The MyNxt Block Explorer has been the most stable and reliable Transaction Explorer in the Nxt ecosystem for over a year. You can access it at https://www.mynxt.info/blockexplorer/

Nxt Wallet

MyNxt already does an outstanding job of bringing blockchain technology to new users. It offers a simple, secure and open-source Online Wallet. Registering requires only an email address and a password. The MyNxt Online Wallet makes accessing Nxt easy, and allows for a gradual learning curve for anyone who wants to start using cryptocurrencies. The wallet is available at https://wallet.mynxt.info/

Plug-ins

One of the most important features developed in the last year has been MyNxt’s plug-ins system, a straightforward way for users to activate additional tools in their online wallet. This plug-in architecture has huge potential but has not received yet the attention it deserves. This is why the new development plans for the service have a strong focus on MyNxt wallet plug-ins. SuperNET developments like the Multigateway, InstantDEX or Pangea Poker will be available as plug-ins.

Development roadmap

With the shift to SuperNET hosting and management, a new development roadmap has been created:

2015 November – December

  • Bring the Nxt Block Explorer more up-to-date with current Nxt developments. These include transparent forging, increased meta-data for the Asset Exchange, and explorer tools for the Monetary System, the Marketplace and the Alias system.
  • Promote coins community discussion to gather feedback for further improvement of the Block Explorer, and for continued development of MyNxt Tools such as the Charts, the Forging Calculator, NxtAd or the Alerter service.

2015 December – 2016 1st Quarter

  • Add powerful and reliable Blockchain Explorers for other active coins in the SuperNET community. First on the list is currently BitcoinDark.
  • Improve the MyNxt API to give developers easier access to a broad range of functionality.

2016 1st Quarter – 2nd Quarter

  • Include SuperNET features as plug-ins for the MyNxt Wallet.
  • Create new plug-ins with other interesting tools that Nxt or SuperNET have to offer.
  • Connect the Block Explorers to the MyNxt Wallet, providing full integration between both for the MyNxt users. This will allow greater functionality such as buying assets or sending encrypted messages from the Block Explorer pages.

During this time, MyNxt will work to provide an easy accessible system for developers. You can learn more at https://www.mynxt.info/apidocs/

MyNxt wants to give developers good reasons to use the API, welcoming contributions and creating together the best documentation for both newcomers to the cryptocurrency world and advanced developers.

Originally posted on Nxtforum.org.

Join the discussion:
https://nxtforum.org/news-and-announcements/(ann)-supernet-takes-over-mynxt-info-hosting-and-development/