Welcome to the SuperNET!
This week it’s a round-up of some of the latest tech and services developments ahead of the big v1 release. As ever, there’s plenty of news to report.
- SuperNET Client
- Client v.0 Update
- SuperNET Client v1.0b
- SuperNET Dividends
- NXTCS dividend
- JLH Lottery
- JLH Bonuses
- SuperNET Radio
- SuperNET on video
- SuperNET Slack community managers
- Jobs Thread
- Development Update
- DB MGW
- MMatrix vs InstantDEX
- InstantDEX Ranking System
- SuperNET core Coins and features update
- SuperNET related links
Client v.0 Update
While we wait just a little longer for the v1 beta, a few more features have been added to v.0, the SuperNET enabled NRS Client. Coinimal and messaging functionality in Dividend+ have been included. The fiat gateways Coinomat and Coinimal allow for simple and instant USD and EUR conversion into BTC and SuperNET core coins, for example by bank transfer. The Dividend+ feature enables anyone to issue dividends on assets.
You can find the latest version of the SuperNET v.0 client here:
Additionally, a newest Nxt core feature has been added, requiring a hard fork @ block 330000, so please update your client if you have not already. The Nxt feature is Monetary System, which allows anyone to issue coins on top of the Nxt blockchain. To read more about the different types of coins you can issue and their applications, see here.
SuperNET Client v1.0b
Testing is underway of what will become the primary multi-wallet for SuperNET users.
Where as Longzai’s v.0 Nxt-based client is a way for the preliminary functionality and features of SuperNET to be added, as and when they are ready, the “basic mode” v1.0b sNET GUI release will primarily concern essential functions.
t3cltd writes, ‘Given the innovative nature of the tech and the rapid advances and new methodology being brought to bear by some of the brightest and best within the SuperNET community, a stable base beta is to be the first release with the implementation of weekly builds to follow. This will help us avoid ‘chasing the technology carrot’ and the risk of ever-delaying the release while ‘one more feature’ is added.’
‘There is a two-pronged approach to managing and implementing functions and features within the SuperNET platform, consisting of two levels of user experience planned for the GUI. The primary, ‘basic mode’, has been intentionally designed to invoke an intuitive and easy to understand premise, namely, “Here is an electronic wallet, it holds a range of digital currency that can be sent or received.” Every single function we add within that simplistic scope must be able to be presented in a similar fashion for our ‘basic mode’ to succeed as an interface which is intended to be marketed to those absolutely unfamiliar with cryptocurrency, the wider public.’
‘SuperNET intends to leverage, not just the technology, but the kind of multi-platform-feature-laden inclusive user experience generally unavailable within mainstream cryptocurrency 1.0, namely, that which is best described by the word, ‘UNITY’.
‘The ‘advanced mode’ is currently set to revert to the existing NXT-client-based SuperNET UI v.0 where services and functions are a mix of those provided by the core development team and third-party collaborations which may include commercial projects or private enterprise. It allows for a mix-n-match of tech which can be evaluated and experimented with amongst a group of users already adept at using cryptocurrency services. The key is that the very best of this tech, that which is evaluated as being innovative and, above all, useful as a feature to all SuperNET users, will go on to be selected for inclusion in the new GUI.’
The SuperNET v1.0b basic gui has been deployed to Longzai for integration today, 20.01.2015.
A special edition of the SuperNET Newsletter will be posted shortly after the release of the SuperNET Client v1, which will include an in-depth look at some of the cutting-edge tech developed by James for the sNET GUI, such as ‘Ramchains’.
Although the idea of centralisation might be anathema to cryptocurrency supporters, the reality is that a decentralised model is not conducive to smooth, reliable and professional-quality development. SuperNET’s infrastructure remains as decentralised as ever, but a team has been put in place to manage the regular updates to the SuperNET client as new services are added.
James writes, ‘This is a very important initiative and puts in place a professional management team for the product release cycle, while still retaining the decentralized nature of SuperNET. For now, getting the overall budget approved is the priority to make the compensation real. Then I suggest that the product management team can discuss the details of budgets, personnel, etc. here until there is consensus that is then ratified by the community.
The 5% of UNITY shares reserved for James’ bonus, should the price have tripled by the end of 2014, have been earmarked as payment for this Centralised Product Management Team (CPMT). A new asset, SuperNETx2, has been created from the shares to achieve this:
‘SuperNETx2 is an asset created to reduce selling pressure on SuperNET as it is redeemable at 1x, but could be worth up to 2x, so only people who are desperately needing SuperNET to BTC/NXT would ever sell it’, James writes.
The new asset was created to protect the market price of UNITY, since some will need to be sold to pay for immediate costs. ‘The asset is funded with 5% of SuperNET so it gets those revenues plus another 5%. This new asset will trade from between 1x and 2x SuperNET, so the people earning it at face value (1x) could essentially be getting double if their work is a success.
I also want there to be a weekly tipping cycle, where the sum of the week’s tips earned by anybody in the community will get allocated their prorata share of the weeks’ SuperNETx2 tipping budget.
‘I think the first year when the SuperNET price is still so low, then the people who are earning it will obtain a disproportionate revenue stream, especially if high end goals are met. After that they will be getting the revenues from the dividend flowthrough and that will hopefully be enough to allow for full-time workings. With 40,000 SuperNETx2 budget for 2015 it is worth 600 to 1200 BTC.’
This asset is described and discussed here: https://nxtforum.org/unity/supernetx2-and-the-centralized-product-management-team
SuperNET asset holders may have received asset dividends which have not been announced in Slack or the SuperNET Newsletters. The Dividend+ plugin in SuperNET client v.0 allows for anyone to send NXT or asset dividends to holders of any asset issued on the Nxt Asset Exchange, including of course, SuperNET/UNITY holders. Some asset issuers use this feature for promoting their assets. The assets they promote may or may not be legitimate.
SuperNET holders do – as always – need to carry out their own due diligence. If an unannounced asset starts paying out substantial dividends (sometimes as large as its own marketcap), it’s a signal that something is wrong. It may be tempting to buy more, but your ponzi-alarm should be ringing.
Others are using the Nxt dividend mechanism to show their support for SuperNET and promote the assets that have been dividended out to SuperNET/UNITY holders. Here are some examples:
OPALTKN (asset ID 5326942574002986149) has sent out a modest but welcome SuperNETx2 dividend while they continue working on their main revenue stream. OPALTKN is a revenue-sharing asset that was sent out to SuperNET holders last month. (SuperNETx2 is a new asset created from the 5% of UNITY assets that were made available after the price of UNITY did not reach James’ bonus threshold at the end of last year. These are now reserved for people working towards the v1 build cycle, and will only generally be available on the secondary market. See further below.)
NXTCS (asset ID 12658817572699179955) is happy to support the SuperNET, and to show its appreciation for the SuperNET community has dividended out 5% of its assets to SuperNET assetholders.
NXTCS is a callback service for developers which helps to integrate NXT payments in any website or application without the need to run a NXT node and checking incoming transactions. NXTCS is a project led by xchrix, the developer of cryptocoincharts.info and several other projects.
100% of future profits will be paid to shareholders. The first ~6 months there will be no fees for the service to acquire customers and help the NXT economy (this service helps building many opensource payment plugins etc), after then fees may be charged for business customers and additional services that get added will be easier to monetarize.
Dividend: 500,000 NXTCS = 0.6127 NXTCS per SuperNET.
You can find out more details at: https://nxtforum.org/index.php?topic=6982.0
NXTCS is an external service supporting SuperNET and not a SuperNET core service.
JLH Newsletter #1 is fresh from the press.
Last month a lottery was held for new JLH/JL777HODL holders buying from the GLYDA account, with prizes of 25,000, 50,000 and 100,000 NXT to three randomly-chosen winning accounts. These winning accounts were:
The lottery code used for this use case by James can be used by anybody for any asset. The lotto function is built into the SuperNET API.
The JLH/JL777HODL (asset ID 6932037131189568014) is a longterm holding account for promising assets (many of which involve James as developer or consultant), and it’s going to be the reference asset for asset-to-asset trades with the SuperNET core feature InstantDEX. More.
As explained in the JLH Newsletter, ‘the JLH portfolio has two sources of NXT revenue: The dividends it receives from its assets and forging revenue. In 2014, this revenue was invested in new assets and to pay for events that were organised to increase the transaction volume.
Starting in January 2015, the revenue will be partly distributed to the JLH holders as a bonus.
The first NXT bonus has been paid to JLH hodlers: .005 NXT per JLH, 50,000 NXT total.
Another bonus can be expected by the end of February, but if jl777hodl accumulates a large amount of dividends beforehand, then they will be paid out sooner. The exact date will be announced by LibertyNow when we get close. Funds can be tracked by viewing account: NXT-2AHU-UXZW-K9Q2-HENLW.
SuperNet Radio Network (SNRN) is now broadcasting across 18 Affiliate Websites with programming originating @ Flagship station supernetradio.com
The supernetradio.com calendar is up. You can add it to your Google calendars easily, for email update notifications. SuperNET Radio has a request form for anyone wanting to do interviews: http://supernetradio.com/index.php/interview-requests. A list of recorded shows can be found on the website.
SuperNET on video
JS Galt, CoinTelegraph writer and person responsible for the supernet wiki, has been discussing the SuperNET on camera:
SuperNET Slack community managers
James writes, ‘Recent events have brought to our attention the need to set some standards that can ensure a positive, diplomatic channel of communication with other communities and solve any friction if the case arises. For that, @noashh and @damelon have been appointed due to their extensive experience in the matter and have accepted the responsibility to do so.
‘This is a call for everyone to acknowledge this and respect their duties as our brand new community managers.’
You can join SuperNET Slack by sending an email to email@example.com, asking for an invite. The Slack-logs can be found in our forum: https://forum.thesupernet.org/index.php?board=46.0 Also, several channels have now been linked to their relevant IRC-channels.
It is easy to lose track of material in Slack due to the number of users and the 10,000 message limit. 5000Bitcoins is putting together a jobs thread on NXTforum, where people can list their skills and look for suitable people to carry out SuperNET-related tasks: https://nxtforum.org/job-board/supernet-job-thread/
James writes: ‘The timeline is event driven. Ramchains -> MGW -> InstantDEX -> Teleport. Then Telepathy can be added. Tradebots are built on top of InstantDEX. The problem is that if I find something is not right (like bloated blockchains), I fix it. So now instead of bloatedchains we have ramchains.’
Ramchains is a cutting edge tech we will give in-depth details of in the special Newsletter edition being released shortly along with the SuperNET Client v1.
Multigateway has been completely rewritten to make it faster and more effective. VanBreuk writes, ‘DB MGW relies on a custom database with blockchain information of every coin handled by the server, so instead of querying the coin daemon to retrieve data from the blockchain, which is quite slow by any standards, the SuperNET (MGW) software can process requests much faster by using its own database. Also, MGW operations are now included in the SuperNET API and that allows it to deliver requests faster, and monitor them from another node.’
SuperNET will be subsidising the running of the Multigateway servers for one year. This is necessary due to the amount of work required in maintaining servers and answering queries from users. After the first year, ‘I expect the monetization that is possible via running MMatrix node will create plenty of nodes. MMatrix nodes get to cherrypick orderflow. Riskless arbitrage will happen. We won’t need many per month to pay for server costs.’, James writes.
New technology and new server triplets for new coins are currently being developed and added to Multigateway.
MMatrix comes with InstantDEX
There is some confusion about the difference between MMatrix (announced in SuperNET Newsletter #10) and InstantDEX – unsurprising, since they ‘are pretty much one and the same’. MMatrix is decentralised orderbook propagation. ‘The InstantDEX API side has been done since last July,’ writes James.
‘The MMatrix nodes will need to directly earn arbitrage spreads. I will also make vanilla market maker bots that MMatrix node can run, but this comes with some amount of market risk. ]InstantDEX asset will get revenues from the “google ads” effect… the MMatrix node that has paid the most fees to InstantDEX gets the top placement and the chance to cherry pick the most orders. They can only execute within the parameters the users are setting as the trade is actually done peer-to-peer, so the MMatrix node can become the other peer if it likes the order. If not, it sends to the rest of the MMatrix, so the other MMatrix nodes get second shot at it. Then if it is still unfilled, all the rest of the users will see it. So it is quite an advantage to be in the loop.’
The result of this process of competing to take part in peer-to-peer trades is that there should be a steady stream of InstantDEX fees.
InstantDEX is coming along. A quick recap:
InstantDEX supports near-realtime asset-asset exchanges. ‘It enables the ability to carry out a trade and know the price you’ll get even if there is a long block – and to change your bid/ask without cost. I aim to make it so you get the best price (either direction) when using InstantDEX.’
InstantDEX ranking system
A system is being developed to enable fast and reliable trading over InstantDEX. ‘You place orders, then peers contact you to make a trade. You either accept, reject, or counteroffer.’ In this way, peers can quickly determine who is a reliable trading node – timewasters can be blacklisted.
However, there is a time cost of negotiating. ‘In a fast-moving market you want to make a deal quickly, not end up haggling over fractions. So each node keeps stats on what percentage of time orders are just accepted, etc. This feedback may need to be propagated too.
‘Ultimately what matters is the trading volumes, though that can be faked. So what really matters are the total fees paid to InstantDEX and quotes will be displaying a ranking of this, so you can tell apart two offers on the orderbook at the same price/volume. For example, if one account is ranked #2 in fees paid and the other guy is #47. Of course, people can artificially boost their ranking by sending funds to InstantDEX. This is somewhat of a problem as far as accuracy goes, but it is like the accepting higher Google rankings by price paid.
‘This allows a newcomer to just send an amount to InstantDEX so others can see his offers and also that he is real. The side effect of InstantDEX collected ranking fees, well, I can live with this.’
SuperNET core Coins and services update
Opal is on the move. Take a look at this video, giving an overview of the coin and its features: https://vid.me/2maa
New Opal Wallet Release with Built-In Supernet
The new Opal wallet is available on opal-coin.com.
There is also a new Mobile wallet:
The Opal team has officially released its integration of the ColorCoins source code into its platform. This puts Opal in great company as the second asset exchange platform to partake in the SuperNET, along side Nxt.
The Colored coins capability is accessible to command line users, but among the next wallet upgrades a new GUI will integrate this second generation technology alongside everything else Opal brings to its users, inside a one client wrapper. Opal has a live rest API and live blockchain explorer here: http://live.opal-coin.com
Opal has also teamed up with F-Secure to address the problems of malicious software downloads: https://altcoin.center/safe/
In other news, OPALTKN has dividended out SuperNETx2 assets (see above), and http://www.opalcoinradio.com has joined SuperNET Radio Network.
BTCDdev has compiled the SuperNET.exe wallet for Windows.
If you can help with testing this, please get involved. You will need to build BTCD on Ubuntu.
BTCDdev explains: ‘It may seem confusing because SuperNET Client v.0 runs some plugins in the Nxt NRS Client, but the actual SuperNET API with ramchains, teleport, etc is run with BitcoinDark and Nxt too. Bitcoindark.exe runs Supernet.exe. The new BitcoinDark has lots of new code to let it talk to SuperNET.’
After the big v1 release of SuperNET a lot of the development focus will shift directly to BTCD and InstantDEX (of which BTCD plays an important part). In preparation for this upcoming development activity and for more BTCD focus, BitcoinDark is now getting its own Slack page.
Please go to the official website here: http://bitcoindark.pw/slack/ to request an invite!
New Vericoin Wallet
veryveriviral writes: ‘We’re proud to announce the release of our new VeriCoin Wallet Version 1.5 this Friday, January 23rd. Our Official Press Release has been sent to SuperNET as well as other media outlets. More info forthcoming via @VeriCoin on Twitter.’
VeriCoin Wallet 1.5 brings many new, exciting features. We have a multitude of new Tabs Sections including – “SuperNET”, “Chat”, “Forums” and “BlockChain”. We’ve introduced a “Real Time” scrolling News Ticker, the option to set the number of Decimal Places, as well as added more avenues to acquire VeriCoin with our “Get VRC” Tab. Auto-Update will make future updating a breeze and with Turbo Bootstrap you’ll be syncing to the BlockChain in minutes.
Coinimal is giving €5 to every fully verified account. This voucher can be used at the first order. You can find Coinimal at https://www.coinimal.com or through the latest release of the SuperNET v.0 Client.
Coinomat has launched bank wire transfers in USD and EUR! ‘You can buy any crypto we support with a bank transfer now. They have also enabled direct BTC -> CoinoUSD exchange (CoinoUSD is Coinomat’s dollar-pegged asset). Find out more at Coinomat.com.
‘The anon card is ALMOST there. Cut us some slack on that one, if you follow our service you probably noticed that we keep our promises. ETA is a week or two.’
The idea behind the anon card is simple: ‘You send BTC, you get fiat to your card and can withdraw it at an ATM. We want to make the transfers instant. Maybe at the beginning it will take around several hours, but in some time when a user sends his coins he will be getting money to his card immediately.’
This is a very exciting project, and a critical part of the SuperNET/anon ecosystem. Card payment processing profits will go towards dividends for the Coinomat asset. ‘We plan to launch a merchant API right after the card is launched. There will be a separate project; the plug-in has already been coded.’
Users will be able to order cards from Coinomat.com, although the ability may also be integrated in the SuperNET GUI. ‘I think we will reduce the fees as much as possible for SuperNET users. They are bound to one account in a bank, and each card is not tied to its own account. So you don’t have a new bank account if you have this card. The card will cost $40.’
Amarha writes, ‘It’s going well. We’re working on the first two white label games that we’ll be able to use as bases for customization. The first full game will start by integrating BTM as the first crypto for in-app payments, faucet like functions, and p2p marking.
‘The first two white label games are going to be based on a couple of popular mobile game concepts: match 3 (similar to candy crush, bejeweled etc) and a ‘runner’ type of game (similar to cookie run). With the white label games we’ll be able to customize them in terms of features, graphics, sounds/music etc, to create unique games for specific cryptocurrencies. For example, if the Nxt community believed that having mobile games that integrate NXT for in-app payments and faucet-type features would increase adoption and work as a good marketing tool to generate users, then we’ll be able to customize the white label games to use NXT as the central focus of a game.
‘Behind all of this I intend there to be a social platform as well, but I’ve decided to focus on getting the content built first before developing the social layer.’
A brief update from nexern: ‘Just for those who don’t follow the dev-monitor (http://finhive.com/fh_devmon.html), db-cluster is tested and running stable/fast as expected.
Fetchers/importers in progress and are the main working part now. Let the data flow in now.
– fetchers for crypto exchanges written, adding API service monitoring and bar builder (1m and up) the next days. stocks and currencies are next.
– 60+ trader resources (forums, portals, associations) for later announcements and ad placements added to the marketing resource db. more resources in different languages are added over time.
100+ candlestick pattern for the custom TA lib are finished. created as SVG, the images can processed by code. chart formations are next.
A great year ahead, that starts with happiness and ends with that too.’
Concorde Escrow service
poofknuckle writes, ‘Concorde is an escrow system that works in conjunction with FreeMarket, and it can be integrated into other systems as well. Concorde integration will be included in the next release of FreeMarket.’
It works like this: Sellers have the option of using Concorde for escrow. If they do so, the money from the buyer is sent to an escrow provider who is using Concorde, and that provider will intervene if there is a dispute. If there is no dispute, and both the buyer and seller sign off on the transaction, then the money in escrow is automatically released by Concorde to the seller.
Escrow services are not provided by the FreeMarket team. Third-party escrow providers are free to offer their services via Concorde, and all a seller has to do is enter the escrow provider’s NXT address in order to use that provider for escrow. This is done on a per-item basis, so a seller can use different escrow providers for different items.
We are seeking beta testers. The tests will be run on the testnet.’
Read more in the Concorde ANN thread: https://nxtforum.org/freemarket/ann-concorde/
SuperNET Radio guest DJ Juan Galt had a talk with Mr. Knuckles, you can listen here:
SuperNET related links
SuperNET Newsletters archive
https://forum.thesupernet.org/index.php?board=46.0 have a log of the public channels.
Ask for an invite to the SuperNET Slack here: firstname.lastname@example.org
SuperNET CORE coins
SuperNET related projects
BITS (SuperNET CORE component!)
Author of SuperNET newsletters: NXTER MAGAZINE: http://test.nxter.org