NXTER.ORG

SuperNET Newsletter #18

Welcome to the SuperNET.

This week we’ve got the usual roundup of news and developments. The tech is coming together, as James writes: ‘It is getting very close. The core, GUI and windows are really three totally independent projects, but they all need to come together to get a windows release. This is happening.’

James own role could be coming to an end as the core functionality nears completion. ‘I prefer to just make a decentralized self-organizing topology network that allows individuals to remain private and offer services without worrying about all the details cuz it just works.’

Topics

  • Wallet updates
  • Agents
  • Dev assets
  • MGW agent
  • InstantDEX agent
  • PrivateBET agents
  • Crypto777
  • Discount on CORE assets
  • SuperNET Services Updates
    • Jay
    • Cryptocard
    • SkyNET
    • Pangea Poker
    • Freemarket
  • CORE Coins Updates
  • SN Related
    • Drachmae
    • SNRN
    • BTCOR
    • Altnuts Mining Pool

Wallet Updates

nxtcrypto-supernet

SuperNET Litewallet v2.0.5-beta

Litewallet users: update to the new version at https://forum.thesupernet.org/index.php?topic=545.0. The Litewallet offers the most user friendly SuperNET experience and includes the MGW multiwallet.

SuperNET NRS plugin

You can use SuperNET as a plugin to the Nxt NRS (the standard Nxt client, rather than the dedicated SuperNET release): https://nxtforum.org/lite-multigateway-releases/supernet-nrs-plugin-v1-0/. Extract and save the plugin component to your NRS client, and simply use SuperNET as a Nxt plugin.

SuperNET NRS 1.5.12 update

After the 1.5 hardfork, there have been a couple of updates. To gain all of Nxt’s and SuperNET’s functionality, you’ll need to download the latest SuperNET client: https://nxtforum.org/lite-multigateway-releases/supernet-v1-5-12-1/

Agents

Agents is James’ dev-friendly plugins system. It offers an easy way of creating new features. James writes, ‘I released Lchains MGW, so far not so many bugs at all, and I got the InstantDEX ported into new structure in 2 days. That includes making cgi, which I never did before. Need to debug it, won’t take long. Then we can get a GUI + core to test on unix. When Windows has SuperNET, then we can make a one click installer. My work is almost done.

‘With agents, especially supporting many languages, I just need to be advising other coders, instead of having to do it all myself. It is like completing the operating system, but there are not so many applications yet. That is why I am making reference applications like MGW, InstantDEX, etc.

‘echodemo is 50 lines of code, but it has all that is needed to make an agent. If you can parse and process JSON, that is all an agent needs to do. It is a JSON processor: JSON input -> JSON output. The agent system automagically gets the inputs from the entire SuperNET and returns the output to where it needs to go. All the networking is abstracted out of it.’

If you want to join development, join SuperNET Slack channel #agents.

Dev assets

SuperNET will be issuing SuperNET Dev assets / “carreer assets”.

The dev will own 90% of this, SuperNET 5% and 5% is dividended out.

100% of a devs earnings from SuperNET is pushed through this asset, so investors can for the first time directly invest in the future earnings of a specific dev. Also, each dev will have a high priced sell wall, so people that want to donate can just pay the above market price.

More info:
https://nxtforum.org/unity/supernet-dev-assets

James writes, ‘Last year I had this idea for artists/athletes, but they are entangled in real world contracts and agents, and therefore problematic, also making sure that they honor the dividend commitment is even more problematic and would require real world contracts.

But the basic idea is sound, ie allow a talented professional to capitalize their future revenues. This allows such a talent to avoid the “starving student” years by selling off part of their future earnings. It also allows investors for the first time (!) to invest in a specific dev, instead of the projects a dev is involved in. Granted, these assets can only assure investors that revenues from SuperNET are paid out, but since it is based on trust in a specific dev, the asset is directly related to the trustworthiness of the dev and his/her future potential’.

777-supernet-slack

Dividend sent

BTCDdev and longzai assets have been sent to SN holders as SuperNET Slack reached 777 users.

MGW agent

supernet-multigateway-mgw

James now uses Lchains to make deposits to MGW. Integrating Lchains makes it significantly faster: ‘Tx 14981284329551545928 is the first automated Lchain MGW deposit. I still need to get the stats reporting fully debugged, but withdraw is the next (and last) thing needed to be done for MGW to be ready for larger scale testing. Latest really really fast ramchain has regenerated 300K BTC blocks in 10 hours. Since it used to take more than 10 days, this is quite a speed boost and also enables debugging at a much faster cycle.

‘I added the ledgerchain code to the (literally) 7th iteration of the ramchain generation. It still will take some minutes to restart from scratch, but if that becomes an issue I already figured out an instant start solution.

‘I had to get the BTC MGW not only working, but fast to run and fast to start and fast to regenerate. These actually are three completely different problems and each one not so easy, but the latest solution is getting close to the “speed of light” type of barrier where I can’t see how to make it go much faster. Maybe someone smarter than me will find ways to make it go even faster… oh, it uses a lot less RAM too. When the code is really optimized, both the algorithm, resource usage and code, then it starts becoming harder and harder to improve it.’

Lchains are the evolved form of ramchains in which ramchains are used to create another layer of data, i.e. the ledger. Learn more about Ramchains here: http://test.nxter.org/?p=7826

Test it

BTCD Lchains MGW is ready for testing. The same code for BTCD MGW is used for BTC MGW. Instructions:

Install BitcoinDarkd:

git clone https://github.com/jl777/btcd; cd btcd/libjl777; make dependencies;
make onetime; make btcd; echo “{\”secret\”:\”randvals\”,\”userdir\”:\”$HOME\”}” > SuperNET.conf; ./BitcoinDarkd
then get a deposit address: ./BitcoinDarkd SuperNET ‘{“plugin”:”MGW”,”method”:”msigaddr”,”coin”:”BTCD”,”userNXT”:”NXT-KAK4-SDL7-DHGT-9W37B”,”broadcastflag”:1}’

The JSON cannot have any syntax errors and it needs to be a valid btcd address. The message cannot be encrypted.

./BitcoinDarkd SuperNET ‘{“plugin”:”relay”,”destplugin”:”MGW”,”method”:”msigaddr”,”coin”:”BTCD”,”userNXT”:”NXT-KAK4-SDL7-DHGT-9W37B”,”broadcastflag”:1}’

The above is the proper syntax to query the MGW servers via the relays.

Small fees to cover server costs

‘MGW [Nxt asset ID 10524562908394749924] has a valuation that is 10% of InstantDEX, actually a bit less due to server costs. I added a bit of withdraw fee (0.05%) and nobody complained, so maybe it can cover server costs from there’.

InstantDEX agent

instantdex-idex-supernet

InstantDEX (Nxt asset ID is looking great:

InstantDEX-SuperNET-ui-lo

James writes, ‘I predict I will reach code complete (meaning only bug fixes left to do) for my portion of InstantDEX on / – what day is today? – / – [tuesday] – / – cool. I think I am at code complete’.

‘The first version will be limited to a few thousand nodes. There are other components too; still a wider scale beta test is hopefully possible soon as the MGW servers are being configured, windows actually got past init and recv packets and the GUI is looking good. Quite a few parts to put all together and we will need as many testers as possible’.

It is still unix only, if you’re interested, join SuperNET Slack channel #testing-instantdex

‘The advantage to testing early is that you will be able to take advantage of the arbitrages that InstantDEX will find automatically for you. I still have improvements in the core I want to do, but I think I can do this as the rest is being finished. I don’t like the long time it takes to regenerate orderbooks, but from the Lchains work I have a way to realtime update NXT tx so it takes no time.

Once I use that for the NXT AE orderflow, then it should be able to create orderbooks in less than 1 second. That and making a dynamic topology for efficient native InstantDEX orderbook propagation. I hope to get both things working this weekend, just might be a long weekend, but when it is done, then we will be able to handle thousands of active InstantDEX traders.’

Cryptosleuth, working on the GUI, writes, ‘I am trying to make it so mostly everything can be customized. The charts on the right you can switch between candlestick/line/areaspline atm, and I am thinking of some other things you can put in there, like combining two to make a mini orderbook/place order window to trade multiple markets easy. I haven’t spent much time on extra things that aren’t needed at GUI’s core.’

You can get a feeling for the iDEX experience in this video: https://vid.me/LVza

PrivateBET agents

Btcddev will be writing a set of C-based agents. The decentralized relays will act as a clearinghouse of all available bets, results, etc. By using the agents method, the problem is divided into several pieces, each becoming a single purpose agent.

Data feed

‘We have the data feed agents, which are there to get (for example) the sports results published to SuperNET – they don’t have to deal with exactly who needs to get it, etc, as SuperNET handles all that. Just get the data and publish.’

Privatebet

‘Now, SuperNET has this data about the sports events and any client with the Privatebet client agent will be able to browse and subscribe, but most importantly the end user will be able to post privatebets, and all the other privatebet clients will be able to find all the available privatebets. Then, similar to InstantDEX direct peer-to-peer process, they will verify terms, lock funds, and then when the event is completed release payment to the winner.’

Cashier Agent

‘There will be a generic cashier agent available to all the other SuperNET agents, so the process of payments is abstracted. At first it will need to be for the same currency in matched amounts, but later I will allow matching X amount of this currency for Y amount of that currency. Of course if the market moves, the value changes, but this is part of the fun.

‘The handling of monies can of course be monetized using the golden rule. Just a percentage of bets to be kept, and the privatebet itself is not needing a bankroll.

‘When the privacy agents become available, betting will be private. In the meantime if you are in USSA please don’t use this, as it is most likely not allowed. Unless you are in Las Vegas, or one of the 14,000 Indian casinos…

‘Since there isn’t a lot of liquidity on the sell side, I can offer bulk amounts direct in BTC or NXT, 1% discount from market price per BTC to a max discount of 20%, but only for a limited time and total amount. PrivateBET [asset ID 17083334802666450484] is majority owned by NXTprivacy [ID 17911762572811467637], which SuperNET has 25% stake in.’

Crypto777

Dividend

James has donated a significant proportion of his new Crypto777 asset (id:     13476425053110940554) to SuperNET. 7.5% / 7.5% / 5% has been donated to SuperNET / NXTventure / JLH, and 24%+ has been sent into the SuperHODL account.

James writes, ‘Yes, I did just put in nearly half of crypto777. It is now the fourth core asset and I didn’t want there to be any resistance for its usage within SuperNET. What is good for crypto777 is good for SuperNET. The crypto777 donated to SuperNET has added  around 30 NXT to UNITY’s NAV’.

Crypto777 is a pipeline asset, and the dividend won’t be made for some time. ‘Current AE orderbook sells need to be cleared and the tech needs to be in beta release or very close’, James writes.

How is crypto777 going to be monetized?

‘There are several ways it can be monetized. It is not officially out yet, I just had a bit of spare time so wanted to get it all in place. It will take some time to get ramped up for the selling of services. It is not a short term thing.

‘The backed and pegged system aims to make a blockchain-enforced mechanism to allow people to get interest on their crypto holdings and there will also be a bid/ask spread built into the blockchain, so these are two sources of monetization.

‘Additionally my idea for providing crypto consulting services to fiat companies, especially with tech like Lchain, well just a few big contracts and it will be making for quite a large cashflow. With the agents system that I will extend to have crypto777 primitives, customizing private blockchain (or even nochain) will be much more efficient than making something from scratch.’

Crypto777 aims to ‘be the tech that solves the final unsolved things about crypto’:

  • Blockchain bloat
  • Price volatility
  • Inconsistent blocktimes
  • Too easy to get hacked

‘With the new SuperNET agents system, I am seeing how many parts can be done in a nice and simple way and reducing the scope of the remaining issues, but this is not an easy problem to solve, as a fully decentralized fiat peg is kind of hard to do. Consensus Research (andruiman and kushti, https://nxtforum.org/consensus-research/) is helping from the theoretical and math side and will even be doing a white paper, which everybody seems to like so much.

Job offer to technical sales creature

‘I am seeing literally dozens of companies getting millions of dollars, and the tech they are needing doesn’t seem to be very much advanced. So, I think with the crypto777 agents system, it would be possible to create customized solutions for corporates, especially the ones with tons of VC money and not enough devs.

‘I need somebody to take the lead for developing this service. We can offer fixed price contracts (for projects with very high confidence levels) so there won’t be any budget risk.

I think contracts in the $50,000 to $100,000 range are possible. Such contracts at first would need to be done by myself, so clearly can’t get this sold in the near term – then again, maybe if we had budgets like that, we can hire coders to work under my guidance. Net profits would be going out as dividends. So if you have experience with technical sales to corporates, contact me.

‘I think some sort of bounty for business brought in and/or percentage of deal flow makes this worth the while for someone who already has the contacts. And if you have experience managing dozens of coders doing half a dozen projects, then this could ramp up into a nice amount of business.’

1%-20% discount on core assets

James writes, ‘I can offer a discount of 1% off of marketprice per BTC, up to a max of 20% off. I accept BTC, NXT, maybe even other things’.

‘Short term I think NXTcoinsco/Tradebots will be pretty good, medium term NXTprivacy or Privatebet, and longer term crypto777. Maybe allocating among these would be a good balance of risk/reward. I can make a single bundle for you at the standard discount.

‘Tradebots/NXTcoinsco gets 30% the revenues that InstantDEX asset holders get, so from a valuation standpoint it is worth at least 30% of InstantDEX. Additionally it will get monetization from the tradebots leasing that it facilitates, it might even do some trading itself. Other than NXTprivacy I think it is one of the most undervalued. But NXTprivacy is further out, so it is longer term hodl.’

SuperNET Services updates

Jay

Secure litewallet and framework
Nxt asset ID: 8688289798928624137

Jay NRS now supports Multigateway 1.0 with mgwBTC.

Jones is creating a Chrome extension for the next version of Jay. ‘With jay v.2 as a browser plugin, it will allow transactions to be made by clicking on the TX_ codes generated, so making trades quickly will be possible in a web application setting. Working as fast as I can :)’.

jay.js is an easy way to integrate an Nxt wallet into your project: http://jnxt.org/jay/

Cryptocard

Semi-anon card from Coinomat
Nxt asset ID: 7110939398145553585

Coinomat: ‘The bank we’re working with now is extremely slow, it is killing me. I found another solution, which seems perfect. The old card will work too. The new cards will be active starting from next week. ’

Card loading will cost 1% + $3. ‘The purchase price will be lower than for the old card.
After we launch this, cryptocard asset will be brought back to life. This is a matter of days.’

SkyNET

Financial analytics AI
Nxt asset ID: 6854596569382794790

Nexern writes:

Changed the landing page to visualize the dev stage: http://finhive.com

Changed the main doc into sections, including api call examples here: http://docs.finhive.com/. An api spec card would look like: http://docs.finhive.com/card.html

analytics, statistics and signaling (see landing page).

‘This API expansion has, besides clarity and completeness, another big advantage. Wrapped into an additional client module, it can be used as a tool to teach trading and explain strategies. There are thousands of sites offering online courses/classes, so a good affiliate program is a win/win for all and helps to spread FinHIVE awareness. Just a handful of affiliations would be sufficient because they are multiplicators. And a trader who used these tools could convert into a loyal customer over time. Moreover, since this module contains not only the definitions/visualization (like a TA encyclopedia) but also the current and historic performance (each symbol get its own data profile, containing the performance for all known indicators) compiled from profiles, it goes much further than all other tools at the market. This is just an additional revenue stream by recycling stuff, from other stuff we need anyway, so it makes sense.’

‘Added a visual overview for pattern detectors/triggers:

1. candlesticks >> http://docs.finhive.com/frm_candles.html
2. chart formations >> http://docs.finhive.com/frm_formations.html
3. point & figure >> http://docs.finhive.com/frm_pandf.html

Now I’m wrapping all this stuff, including the new descriptions and previous components, into the final API, starting the performance-statistics and signaling for all TA components on each symbols.’

‘A clever mind will recognize quickly how to utilize, dense and pipe all this stuff here into something meaningful, to shift probabilities into desired direction. The reference client later will make things much easier then. Now it’s only useful for some devs.

‘Besides visualization it will also contain a complete TA encyclopedia and all stats and tools to build trading systems by simple booleans, including backtesting. And some other useful stuff of course. I guess latest when SkyTrade and SkyBot appears, we will gain a decent level of attention.’

James: ‘I don’t think many people realize how powerful InstantDEX+SkyNET will be.’

Pangea Poker

Decentralized Poker
Nxt asset ID: 6883271355794806507

Valarmg writes, ‘The first 90% of software development takes 90% of the time. The last 10% takes the other 90% of the time, according to the main dev. So it feels like we are close to the first playmoney release, but there are lots of small parts to finish off.

‘The only good news about these delays is that the structure of SuperNET has changed into a much more modular architecture in the last few months, so it’s a much better time to try and integrate a project than earlier in the year.’

For more details, see https://nxtforum.org/nxtventures/pangea-poker/new/?topicseen#new

Freemarket

Decentralized Marketplace
Nxt asset ID: 134138275353332190

A new FreeMarket version 1.4 now available.

Knuckle writes: ‘This is our best version yet. There are a couple of new features to make FreeMarket easier to use:  New, separate views for sellers (View Your Active Items, View Your Sold Items, View Your Expired Items, and View Your Pending Sales). We have revamped the Relist feature so that it will only relist the quantity of an expired item that didn’t sell; for example, if you listed 10 of an item, sold 3, and then the item expired with 7 unsold, Relist will put 7 of the item up for sale again.’ Trade at http://nxtfreemarket.com.

SuperNET Core Coins

Bitstar

http://bitstarcoin.com

Bitstar will promote and utilise SuperNET on ATMs.

t3cltd writes, ‘Connecting the ATMs to InstantDEX is the ultimate goal. We are waiting on a number of things, not least of which for InstantDEX to be fully tested and operational in order to then be able to set the ATM real-time trade orders to automatically be handled by InstantDEX. I’m hoping to not have to set them on a centralised exchange process at all.

We’re in one of those situations that could see it all happen in double-quick time once we reach a certain point, or it could remain bogged down in inching forward as elements are put in place. InstantDEX is a critical part of everything both SuperNET is doing and the ATM side of things. It is critical that it be given the attention it needs to test fully and prove itself as the first decentralised trading platform in the industry.

Any revenue that SuperNET earns from the ATMs will come from the transaction fee generated through InstantDEX.

BTCD

http://bitcoindark.pw

Get paid for staking

BitcoinDark has started a new feature in recent weeks: dividend payments to stakers. This was always a plan for BTCD, with stakers receiving a proportion of revenues from InstantDEX and SuperNET, as well as through inflationary ‘rewards’ (5% each: the 5:5:5 scheme).

Now, the MMBTCD asset (a market-making and mutual fund built on Nxt, that pays out in superBTCD) is paying 10% of weekly revenues directly to stakers. Each week, a call integrated into the core of BTCD creates a list of all recent stakers, then pays them a proportion of the total dividend, depending on how many blocks they staked. Unlike paying stakers in proportion to their stakeweight, this rewards clients who stake 24/7, maintaining the strength of the network. BTCD is the first gen1 currency to include such a feature.

A script written by Btcddev enables anyone to make use of the functionality. Once it has been tested, it will be integrated into the new BTCD client, and ‘that way, BTCD can really be attractive as an asset. Anyone can easily pay divs using btcd’s network for his service.’

‘Anyone who wants to use btcd for a revenue generating service might consider paying dividends to stakers. They keep the network going, and the value of the BTCD (and therefore the service itself) will rise. A case in point is InstantDEX’, writes Btcddev.

Btcddev continues, ‘The getstakers command outputs number of blocks staked, not how much you staked. So if you stake constantly and find 10 blocks in a week, you will receive 10x the payment than if you turned it on for an hour and staked 1 block, even though you staked the same number of BTCD’.

Note that mgwBTCD/superBTCD does not stake. Read more at https://bitcointalk.org/index.php?topic=762346.new;topicseen#new

Initial dividends

MMBTCD: market-making and mutual fund
http://bitcoindark.pw/mmbtcd-btcd-market-making-and-mutual-fund/

Two dividends have already been paid out from MMBTCD, with more on the way weekly.
See http://bitcoindark.pw/bitcoindark-pays-first-dividend-to-stakers/

For upcoming dividends, as well as the 10% revenues from MMBTCD, James is donating 100 BTCD (this week only), mivond is donating 10% of revenues from  bitcoindarkdice.net.

‘Think about this. Once InstantDEX and other major services begin generating money, a large percentage of the new money supply will be bought as BTCD and paid to stakers, reducing inflation. It would be nice if BTCD bought reached greater than or equal to number of coins staked.’

FIBRE

http://www.fibrecoin.com

Fibre SkillShot 1.2 released

The Fibre project has released the first game in its series, Fibre SkillShot created with Unity3d technology.  Integration of digital currency payments and incentivized tournaments are already in development. Fibre will also be partnering with another game project. More details coming soon.

Unity3d web version
http://fibreskillshot.website/

Windows/Mac/Linux versions
http://fibreskillshot.website/download/

FibreLock 2.0 – Next Generation Wallet Security released

FibreLock-SuperNET

FibreLock v2 is a new way to secure your wallet guarding against Key Loggers, Mouse loggers and brute force password attacks. It works by combining multiple methods for the wallets passphrase making it near impossible to predict while rendering most malware useless. FibreLock v2 like its previous version will also be integrated into the Bitcoin C wallet as a proof of concept.

Source Code – https://github.com/mammix2/fibre-public

Please find more info in the whitepaper:
http://www.fibrecoin.com/news/fibrelock-v2-next-generation-wallet-security/

Proof of Concept Wallets

Windows – https://mega.nz/#!8URmCaSQ!Z8kdmpzU4Oeh3wmMb6fH6VmgC-mao_Ems7f_0qJ5utw

Osx – https://mega.nz/#!UNYDVJKC!yaBykNvpbFJ2SI8avQlf7lFD-4fuzjh5YxtWwRQQFj0

FibreOS

FibreTeam has started working on FibreOS 2.0 and hopes to release it soon.

FibreOS 2.0 will utilize a custom, optimized and hardened Ubuntu environment together with full TOR support. Serving as cold storage will include all Core Coins wallets, SuperNET wallet and InstantDEX – SuperNET’s Decentralized Exchange.

FibreOS 2.0 will be delivered with a device which you can take anywhere you go, plug in needed components, stake your coins on it and install anything you need additionally.

FIBRE Silver Coins

You can pre-order Fibre silver coins here: http://www.fibrecoin.com/fibresilvercoins/

NXT

http://nxt.org

NRS 1.5 is LIVE

Hard fork passed at block 445,000.
Connections from peers older than version 1.5 are no longer accepted.

Update to the latest Nxt Client 1.5.12 here: https://nxtforum.org/nrs-releases/

Nxt Plugin System:

Nxt Voting System:

Nxt Phased Transactions:

PayExpo2015

Nxt enjoyed a solid presence at the conference.

Bas Wisselink (Nxt Foundation) writes, ‘Nxt was one of two booths for crypto, the other being GetCredits. We got some pretty high level attention, for which we are now going to do follow ups. We’ve talked to a lot of people from both the banking and payment industries. They don’t actually hate Bitcoin or crypto, but Bitcoin is definitely not being considered as much as you’d expect’.

‘They have seen the potential of the new technologies. They see more opportunities in newer tech that is built with new ideas, but taking the innovations of bitcoin, and they already know Bitcoin will be obsolete quite soon. And why would one go with obsolete technology?’

‘Uses that people are looking for are primarily secure and auditable ledgers and tokenisation. For the “developed” world, the currency angle doesn’t really strike a chord, but for the “developing” world, the currency side is potentially HUGE. We got a few people wanting to work on that. One of the lessons here is to look for solutions that actually solve a problem for a large demographic’.

NXTER.ORG booklet
http://test.nxter.org/payexpo/Payexpo-booklet-2015.pdf

SuperNET > PayExpo sponsorship

SuperNET sponsored Drachmae – an innovative solution to monetise Greece’s valuable but illiquid state assets and create a secondary currency – at the payment industry conference.

You can read more about Nxt, Drachmae and PayExpo at

https://nxtforum.org/general-discussion/payexpo-2015-london-9-10-june-2015/msg184395/

https://www.cryptocoinsnews.com/supernet-sponsors-drachmae-blockchain-solution-for-greece-project/

TipTap

TipTap is a tipping application. The service is completely free of charge. Forever’.

‘Unlike other tipping services, TipTap uses the Nxt blockchain to facilitate the tipping micro-transactions, thus it doesn’t rely on any centralized ledger. Currently TipTap is compatible with Reddit, Slack and Twitter; 3 of the largest and most used platforms today’.

To get this moving, an official Tipping Fund of more than $2200 (200.000 NXT) is paying weekly prizes to tippers who join @ http://www.wetiptap.com and use the service to spread NXT.

To The Mooooon

https://nxt.tothemoon.me

nxt-to-the-moon

A new gambling game on the Nxt blockchain has taken SuperNET slackers with storm.
ToTheMoon is running a weekly promotion: https://nxt.tothemoon.me/weekly-leaderboard

NXT ATM in Vienna

Coinimal writes, ‘We have established the world’s first NXT ATM’.

‘The ATM is placed in the ‘Gretel’ café in Vienna’s most popular shopping street, Mariahilfer Strasse. The purchase process takes only a few seconds and after insertion of the desired cash amount into the machine, it automatically sends the equivalent in Bitcoin or NXT to the desired address. The beauty of this ATM is, that we were able to jointly expand the General bytes software so that this machine has the opportunity to issue NXT’.

Read more: https://www.coinimal.com/atm

Hackco.in London Hackaton

Nxt-hackcoin

Coinstructors and UBS Bank are hosting the London Hackco.in.

Jones, Lyaffe and Tosch will be our people at the event. Sign up @ http://hackco.in/london

The aim of HackCoin is to catalyse investment into the digital currency startup community during the Hackathon Day and beyond (prizes are focused on helping to fund ideas).

The subject in London is Smart Bonds and Digital Identity, and the hackers are going to be working with NXT API. ‘This galactic event will be held on June the 20th in Level 39, Europe’s largest FinTech hub. UP TO twenty of world’s best hackers and developers will gear up and craft their socks off on universe’s most creative Blockchain 2.0 FinTech ideas’, writes crypto scout.

https://nxtforum.org/general-discussion/london-hackcoin-developers-building-over-nxt-2-0-blockchain/msg184528/

OPAL

http://www.opal-coin.com

https://soundcloud.com/supernetradio/voidlord

SYS

http://syscoin.org

Check out all the updates that were made to our roadmap!
Big things are coming…. http://syscoin.org/roadmap/

The latest notes from the Syscoin call #23 are up on the blog –
Check them out here: http://syscoin.org/team-call-23-meeting-notes/

danosphere writes, ‘We’re working with vanbreuk to get SYS into the MGW + Android SuperNET wallets as soon as possible. There are some code updates happening to MGW which James is working on so we’ll be added once that refactoring is completed. Shouldn’t be too long, James is always working.

To everyone who hasn’t seen the announcement in our SYS core channel –
All requests to the Millionaire club are being processed and we will be in touch with you shortly!
http://syscoin.org/syscoin-millionaires-club/

VeriCoin

VeriCoin Developer Doug Pike and Veryveriviral on Crypto Talk Live about VRC’s Proof-of-Stake-Time protocol, their current RoadMap and alluding to some upcoming tech features.

VPN

http://bitvpn.top

Open source Blockchain Lottery

Bet 50 VpnCoin – Win 200000 VpnCoin.

BitNet Lottery is the first P2P blockchain Lottery, an open source Fair Lottery.

bitnet-lottery

bitnet-lottery2

James writes, ‘When i finish with the urgently needed code for SuperNET in general, I will spend time to get VPNcoin properly integrated into SuperNET. ]I think the decentralized load balancers could become a pathway for the windows VPN services provided by VPNcoin’.

SuperNET Related

Drachmae

http://www.drachmae.org

SuperNET is platinum sponsor for the Drachmae project.

Drachmae writes, ‘Drachmae is a hybrid banking system built over NXT using NXT core functions like AE, MS and Voting. It’s otherwise called a “Central Bank in a box” over the blockchain.’

See further at www.drachmaeconnect.com and www.drachmae.exchange

‘Everything started to be built on the 5th of May and was presented and demo working on the 20th of May. With all the media that is looming around it I need to close it in Greece with government or private association. We already have one assocation interested in taking drachmaeconnect as a business barter network.’ The project has potentially huge significance. ‘It’s not just about Greece. Greece is the test dummy of what will happen to Italy, Spain, Portugal… I am arguing with the EU Commission over drachmae as they don’t like the idea – this could be a solution.

There has been lots of great publicity about this:

Damelon writes, ‘This project, even when not viable, has generated more high level attention than 4 months of articles on things like CoinTelegraph. It gets people talking and that for me is its most important function.’

NXT-Supernet-Drachmae use cases:
https://docs.google.com/document/d/1Zc0ukq5N4Lqhz03ro6aUMkd-MEYtRenHHIzP_AamGv0/edit

‘Anybody with SuperNET core assets, can you send your logos and Weblinks to lee@coinstructors.com.’

SNRN

http://supernetradio.com

Up and coming shows can be found here
http://www.supernetradio.com/index.php/timeline

Lottery
‘Anyone holding 50 SNRN asset will be entered into the lottery for 1/2 ounce silver (starting next month… maybe this month…), 500 will be entered in to win the 1 ounce supernet coin, 5000….. will be a surprise (3-6 months away). Thank you for your support.’ Nxt asset ID: 3501237268087927815

BTCOR

https://www.btcor.co

BTCOR Group Investment supports SuperNET in alignment with a profit-for-change paradigm, and it’s the first NXT asset to utilize Nxt’s revolutionary Monetary System technology and Asset Exchange to generate dividends on stored wealth. BTCOR and its SERIES VENTURE wealth storage facilities allow for holding/storing value in the form of ASSETS, GOLD, SILVER, BITCOIN and the US DOLLAR.

BTCOR is the parent asset and is the simplest choice for investment. Funds received through sales of the BTCOR asset will be used to appreciate value for shareholders by investing primarily in SuperNET’s technology, core coins, and assets and by seizing any other opportunities the Executive Board may deem advantageous.  Any dividends received by assets held in the BTCOR Treasury will be redistributed proportionately to BTCOR shareholders on a monthly basis.

Last week BTCOR announced the members of its diversely talented and respected team https://www.btcor.co/btcor-team/ alongside its business plan https://www.btcor.co/btcor-group-investment/, which details the asset’s complex structure and core principles. You can join SuperNET Slack channel #btcor for more information.

Altnuts Mining Pool

http://altnuts.com

If you want to mine SuperNET Core coins, this is a place to go. AltNuts V2 charges 0% Fees.

Coins that are accepted into the SuperNET, also known as ‘Core Coins’ represent some of the most promising innovations in blockchain technology available today. The SuperNET Multipool, brought to you by AltNuts – has been created as a way to mine currencies from within the SuperNET that aren’t traditionally minable. You can connect directly to the multipool with your ASIC or GPU miner and be paid in the SuperNET coin of your choice.

Read recent SuperNET Newsletters:
http://test.nxter.org/category/supernet-newsletters/
or… http://www.supernet.org/en/news/newsletter
or… https://bitcointalk.org/index.php?topic=830942.0

Author of SuperNET newsletters: NXTER MAGAZINE: http://test.nxter.org

SuperNET Newsletter #15

Welcome to the SuperNET!

As ever, life moves fast in crypto, and never more so than in the SuperVerse. The main news is that InstantDEX is approaching launch, another dividend is about to be distributed, we have a SuperNET v1 beta LiteWallet, but that’s not all, there’s plenty more still to tell you about – including a new addition to the CORE coins list: FIBRE.

Topics

  • v1.1.3beta
  • v1.1.3beta LITE
  • MGW
    • Coin IDs
    • MGW fees
  • FIBRE: New SuperNET CORE coin
  • Jay dividend
  • InstantDEX
    • API level test of InstantDEX
    • Testing help required
    • InstantDEX Lotto
  • Half-anon Cryptocards available
  • VPN Bounty
  • BTCD and NXT
  • SuperNET CORE coins

SuperNET v1.1.3beta

SuperNET wallet v.1.1.3 beta is available for testing:
https://bitbucket.org/longzai1988/supernetv1/downloads/supernetv1-1.3b.zip

Hash: 4B186C0DDE96C5F1432213BD1F4C96A34CDD98F177CCCBE63BF2F39025BDDEA6

SuperNET v1.1.3 beta litewallet

The litewallet version – a pure html client – is now available for testing: https://bitbucket.org/longzai1988/supernetv1-lite/downloads/supernet-JAY-1.0b.zip

Hash: 57E04EFCE3D25608E59270E03B0EF9477CDCC4953AF95F6C0284BED3E46CB8C9

The ‘advanced’ view is currently disabled for Jay wallet.

Supernet-litewallet-nxtinside

 

SuperBTCD-Bitcoindark_nxt

MGW

SuperCoins ID

As part of the ongoing evolution of the Multigateway to become a key part of SuperNET, coin token names have been updated, as have asset IDs.

‘Note that all the assets delivered by SuperNET v1b (and found in the new SN wallet dashboard) follow different naming.’, writes VanBreuk. ‘The SuperNET MGW uses new assets. mgwBTCD has become superBTCD. And although James said iDEX could handle old and new assets as equivalent, we’ll be offering an asset swap for anyone who wants to update assets soon.’

And Longzai advises us that: ‘When we decide to drop the legacy mgw there will be 1:1 asset swap’.

The SuperCoin IDs are:

superBTCD – 6918149200730574743
superVRC – 9037144112883608562
superOPAL – 6775076774325697454
superBITS – 13120372057981370228
superVPN – 7734432159113182240 (withdraws still not operational)

SuperFIBRE (multisig details in development) and the SN versions of BTC, DOGE and others will soon be added. See https://multigateway.org for more information.

When you fund your SuperNET Wallet, the corresponding tokens will automatically show in the AE of your Nxt account where you can trade them manually for NXT or other assets, for example US$-pegged CoinUSD asset (ID 12982485703607823902) or the EUR-pegged equivalent (ID 18331302471589054607), which are also Coinomat gateways to fiat, via SEPA transfers to VISA / Mastercard.

Asset < – > Asset trades will be enabled in SuperNET with InstantDEX integration.
Interesting Nxt AE assets include: http://test.nxter.org/sorted-nxt-asset-exchange-listing/

MGW fees

‘Current MGW withdrawal fees are based on coin transaction fees and Nxt transaction fees, which need to be covered by the service. Since fees are subtracted from, for instance, BTCD withdrawal, there is a value in the servers’ configuration that defines the approximate equivalent of the NXT transaction fee in BTCD. Then the system applies twice that amount (covering the asset transfer and messages costs) plus a safe amount based on the regular BTCD tx fee, keeping in mind that multisig transactions may involve higher fees than regular ones. When InstantDEX brings price feeds, these “approximate equivalents” should refer to current market rate.’

At this point, the total MGW fees are these fixed amounts:

BTCD – 0.022
VRC – 2.002
OPAL – 2.02
BITS – 20.02
VPN – 200.002 (VPN withdraws are not working until coin developers patch the VPN daemon for full multisig support)

Minimum withdrawals are

BTCD – 0.5
VRC – 50
OPAL – 50
BITS – 500
VPN – 5000

New CORE coin: FIBRE

SuperNET has a new CORE coin: Fibre.

supernet-fibrecoin

Last week, the announcement was made:
‘Fibre will be leaving the Blocknet Project.’

‘We wish the Blocknet all the best, decisions like this aren`t easy but we are changing direction for Fibre in 2015. Fibre community and investors will always stand in the first place. In our opinion we are choosing a better future for Fibre’.
https://bitcointalk.org/index.php?topic=737771.msg10698947#msg10698947

‘The Fibre dev team has been represented in SuperNET Slack for more than a month but has always made it perfectly clear that Fibre was part of the Blocknet initiative. Recently, a real attempt to fulfill the requirements to integrate Fibrecoin in SuperNET as a CORE coin was started; opening Fibre’s source core tech to SuperNET analysts (the review was done by chanc3r), and after that, a swap of SuperNET assets with Fibre assets was required’, writes Eth.

Learn more about Fibre @ http://test.nxter.org/new-supernet-core-coin-fibrecoin/
and enjoy the rest of this newsletter while listening to an Interview with Fibrecoin leader Killakem!

This is SuperNET Radio:

https://soundcloud.com/supernetradio/fibre-coins-founder-developer

Fibre is available on the SuperNET Multipool http://altnuts.com, and also Xpool.ca multipool.

We welcome the FIBRE Team and look forward to finding out more about their forthcoming projects.

Jay dividend

The Jay dividend is ready for distribution. 7.5% to SuperNET, 7.5% to NXTventure and 5% to JLH (jl777hodl) will be distributed. This will occur when fewer than 8,161 SuperNET assets are left in BTER. At the time of writing, BTER’s cold wallet has just over 20,000 SuperNET assets in it.

Jay (ID 8688289798928624137) will allow people without any software on their system to run the SuperNET GUI and access all coins. Jay will get an InstantDEX revshare when it makes a lite-InstantDEX. ‘I added a ‘GUI’ field so we can track which GUIs the orders are coming from’, writes James.

InstantDEX

iDEX1

A preview video of the InstantDEX client alpha is available here.

You can see InstantDEX in realtime (thanks to MyNxt.info) here.

‘InstantDEX core API is feature complete other than automatching hybrid orderbooks’, James writes. ‘Got the asset<->asset trading working and looks good. So now what is left is the most advanced case (hybrid orders), which isn’t even necessary at first and making it automatch and chart signals.

Then I will switch over to network security enhancements while the testers are pounding on it.

So, the ramchains, realtime MGW and InstantDEX should go into maintenance mode for me very soon. Then the security revamp will be squeezed in and that leaves Tradebots and Privatebet. Once I get the raw data parsed properly, I was just going to create a transaction list, along with summary stats for each asset that was traded and a global summary too.’

InstantDEX is getting inputs from the central exchanges, NXT AE and its own orderbook, so from a single display you can see prices from all the places at once.

API level testing of InstantDEX

InstantDEX is progressing nicely – and, more to the point, is working effectively. ‘Trade completes faster than I can switch tabs! The only difference performance-wise from a central exchange is if you don’t have any inventory of something, then you can’t retrade it until you have enough confirms. I will let each node decide what “enough confirms” means. But if you are trading with plenty of inventory and have enough aged assets, then you won’t even notice this.

‘Another nuance is that even though the trade is locked and done (like after hitting Send Money), until there is at least one confirmation, there is always some very small chance that it won’t get confirmed. I am talking about a big blockchain event or some sort of attack scenario. However, even in such unlikely events, all the components of a trade are atomic swaps of NXT <-> asset, so at worst you have a dangling half of the trade, but you didn’t lose any funds. As with any trading, if the market moves against you, well, not much can be done about this

‘So, not quite 100%, but 99.99%+ with the downside being partial fills. Since the performance is fast, the security of not having to worry about any central exchange is well worth this and I hope that people will be able to understand the slight difference. For the cost of one out of many thousands of trades not completely filling, needing to wait a block to be sure it confirmed, and some users requiring N confirms, we get to trade without worrying about the exchange dying. This being said, if you are trading assetized crypto, I still recommend to withdraw after you are done trading, if only so you can be staking. And nothing is as safe as your local wallet.’

Testing help required

James writes, ‘I made an instantdexbeta private group, only for people who will actually test, no spies. The best testers are usually becoming very good coders. This is because a lot of coding is about finding and fixing your own bugs.’

DM James in Slack for access – but only if you have the time to really test it.

InstantDEX Lotto

James writes, ‘My idea is to fund a monthly lotto with this 5% [the unallocated InstantDEX revenues], winner take all (shared between all that tie).

 If total InstantDEX revenues are 20 million NXT, this is a 1 million NXT monthly jackpot, and each 2.5NXT fee you pay to InstantDEX gets you a lotto ticket.’

For those who still don’t understand how the pieces fit together (which is understandable, when there are so many pieces), InstantDEX can be considered ‘the grand central station of SuperNET. It connects everything to everything else and the more popular it becomes, the larger the monthly lotto. The high end of projections have it up to $100,000 per monthly lotto. At NXT blockchain saturation levels, NXT itself will be at least 2x if not 4x. It all combines to help everything else – and not to forget about BTCD, which is getting an InstantDEX revshare.’

Half-anon Cryptocards available

The half-anon VISA cards are now available to order – but not yet officially launched. Coinomat writes: ‘We are waiting for a dozen successful orders and activations to announce it officially.’

Getting your own card is simple, just register on coinomat.com, click the ‘First Swiss Card’ menu link and follow instructions.

Cryptocard is a semi-anonymous way to cash out cryptocurrency to an ATM card. Photo id but no bank details are required, meaning that a resale market can provide a convenient and private way to move funds from crypto to fiat. Cryptocard was originally funded by the BTCD community, and Coinomat will integrate BTCD within 2 weeks, and then start integrating the other SuperNET coins.

VPN BOUNTY

James has organised a 10 million VPN bounty for a new dev to join the team.

‘I would like to offer a bounty to make VPN for non-Windows environment to link up to the VPNcoin Windows VPN. There are several methods possible. One is to have a separate VPN and bridge to the Windows. The other is just to connect directly to the Windows VPN from unix.’

There is a 10 million VPN bounty for a working solution.

BTCD and Nxt

A reminder about BitcoinDark and Nxt’s status as lynchpins of SuperNET, and the financial benefits holders will enjoy:

BTCD

  • 5% revenue share from InstantDEX
  • 5% revenue share from SuperNET
  • 5% staking interest

This week’s BitcoinDark Bulletin: ‘Privacy and Anonymity’.

Nxt

NXT_accepted-5_blue

5% revenue share from SuperNET goes to NXT core development. And InstantDEX fees are paid in NXT, because SuperNET has NxtInside. James writes: ‘At 50 trades per minute it saturates current NXT blockchain (makes NXT earn 10% per year), but NXT devs say they can boost this capacity pretty easily. With average fees of 6 NXT per trade that is 300K NXT per day or 15 million per month. So even at current ATH prices InstantDEX is trading at PS ratio of 5 and PE of 10.’

Nxt is clearly one of the few platforms that’s going to survive long term, making it not only a safe place in which to trade and park your funds but also a hugely prosperous one as well, once (as anticipated) it’s earning 10% per year.

If you are interested in using Nxt, visit the official website: http://nxt.org.
Get the latest Nxt news from http://test.nxter.org or join the movement @ https://nxtforum.org.

payexpo2015

Nxt is going to present the key speech for crypto at this year’s PayExpo 2015. Damelon writes: ‘I want to invite ALL Nxt related businesses to provide us with their promo materials and relevant information! We are not there just as the platform, you also can get your products and services out there! This Payexpo will have a separate part especially dedicated to cryptocurrencies!

http://www.goshowoff.com/ClarionConf/PayExpoFull2015/page.cfm/Link=28/t=m/goSection=4_28

‘We are co-organising this, so if you feel you want to help out with this and have workshop experience or knowledge: let us know! Also, help us raise the last 500,000 Nxt to go here. We already have gathered a significant amount thanks to all of you. Let’s get this last part together. Donation address: NXT-ZGDQ-W9Q3-YFK6-4L8F4.

Read more on the Nxt Forum here or join SuperNET Slack channel #payexpo to learn more.

SuperNET CORE coins

As the name UNITY suggests, SuperNET is not a coin but a cooperation between selected coins. If you’ve been following the SuperNET Newsletters, you will know that all SuperNET CORE coins have been chosen with great care. No copycats, no simple clones, no scamcoins pumped by a huge marketing budget: only truly innovative, useful coins with active developers.

Here they are in a flash: http://test.nxter.org/supernet-core-coins/

BITCOINDARKBITSTARBOOLBERRYCHANCECOIN
FIBRECOINNXT CRYPTOOPALCOINVERICOINVPNCOIN

All SuperNET CORE coins and services are more than welcome to claim a paragraph in the SuperNET Newsletters > DM apenzl to join SuperSlack #unity-news and make sure to get featured.

Any 1.0 crypto coin can enhance their wallet with SuperNET. Write to: info@supernet.org.

 

SuperNET CORE coins

As the name UNITY suggests, SuperNET is not a coin but a cooperation between selected coins. If you’ve been following the SuperNET Newsletters, you will know that all SuperNET CORE coins have been chosen with great care. No copycats, no simple clones of Bitcoin, no scamcoins pumped by a huge marketing budget: only truly innovative, useful coins with active developers. Here they are in a flash…

Latest addition: Syscoin

Nxt

http://nxt.org

Nxt is currently the frontrunning 2.0 cryptocurrency platform, meaning that it enables far more than simple cryptocurrency transactions. Nxt offers a wide variety of powerful blockchain-based features, both in the core and as 3rd party services. Nxt is where James, the inventor and lead developer of SuperNET, started his journey into the crypto world.

Nxt core functionality includes Arbitrary Messaging (uploading encrypted data to the blockchain); a decentralised Marketplace (think eBay for digital goods, without the fees and servers); the Asset Exchange (based upon what Bitcoiners refer to as ‘coloured coins’, with the ability to issue assets representing for example shares in a company, paying dividends to asset holders, etc); a decentralized DNS-system; crowdfunding – in fact a whole new Monetary System, for issuing new customizable decentralized currencies on top of the secured Nxt blockchain – and soon a p2p voting system and multisig transactions (allowing, for example, math-based escrows and Nxt / asset / Monetary System-coin holders to vote on whether to veto or recognize a transaction), and more.

Nxt is a platform, meaning it was designed to be built upon. James was one of the first people to see this, and his brainchild SuperNET has emerged from (and combines) many projects started on top of the Nxt blockchain. It was natural for him to base SuperNET on Nxt, and so the 1.0 coins in SuperNET all gain their 2.0 features from Nxt.

BitcoinDark

http://bitcoindark.pw

BitcoinDark (BTCD) started as a side project for James as programmer. As time went on, it developed into a whole new technology. Rather than being a simple coin, BTCD is now a whole anonymity ecosystem. ‘Teleport’ functionality makes it extremely difficult to trace transactions on the blockchain, and ‘Telepathy’ makes it nearly impossible to track them off the blockchain.

BTCD provides SuperNET with the anonymity required for secure private transactions. If Nxt is the 2.0 engine that gives users all the functionality they need, BTCD is the highway that connects all the different services available. It’s also the first coin to pay dividends to its holders. 5% of SuperNET revenue will go to stakers.

VeriCoin

http://vericoin.info

Will provide secure decentralized cloud storage for SuperNET users.

Current VeriCoin features include VeriBit – paying for anything with VeriCoin anywhere that Bitcoin is accepted; VeriSend – optional coin mixing for privacy; VeriSMS – a service that allows VeriCoin to be sent to/from nearly any cell phone in the world using SMS (text messaging). There will also be a special SuperNET feature – stay tuned for more information!

OPAL coin

http://www.opal-coin.com

OPAL has a number of features that fit with SuperNET’s goals. It implements Peter Todd’s stealth addresses so that users receive funds through the use of a public address; funds transferred to this address are not visible on the blockchain as they are sent to an alternative hidden address.

Opal drive enables decentralised storage of encrypted files, built on top of Storj‘s API. The project is under development and has received the help of Shawn, one of Storj’s core developers.

OPAL has also integrated colored coins and has encrypted messaging.

https://soundcloud.com/supernetradio/4-jan-15-interview-with-whit

BitstarCoin

http://bitstarcoin.com

BITS is a core ‘component’ of superNET.

Its purpose within SuperNET is to make available a network of ATM units to enable buying and selling of SuperNET currencies – as well as other cryptocurrency-related services than can be offered to ATM users.

VPN coin

http://bitnet.wang

The Chinese-developed VPN coin is closely connected to BitNET.

VPN coin will be the native currency of this network. BitNET is a cross-currency network that includes VPN capability, support for voice and video chat, file transfer, p2p domain and website creation, tipping and more.

https://soundcloud.com/supernetradio/simple-security-saturday-episode-3-vpn

FibreCoin

UPDATE, 09.03.2015:
Fibrecoin has joined the SuperNET core: Read about it here

FibreOS is an anonymous optimized and hardened Ubuntu operating system. The OS and Fibre Wallet data files can be stored on SD or USB, and leaves no trace on the host PC when unplugged.

FibreConnect is FIBRE’s encrypted messaging system. FibreLock is a security feature that fights keyloggers by removing the keyboard from the password entry process. FibreDark Wallet allows you to automatically connect to the Internet using the TOR Network, which will make your IP address and location hidden. FibreDark does not rely on TOR exit nodes, but has hard coded onion addresses that point to new FibreDark nodes. ZeroTrust is a trustless decentralized mixing technology, which makes your transactions 100% anonymous (according to the FIBRE Team).

https://soundcloud.com/supernetradio/fibre-coins-founder-developer

Pending…

Boolberry

http://boolberry.com

SuperNET is financially attached to BBR. The Boolberry tech is not implemented into the core yet.

Boolberry is a cryptocurrency based on CryptoNote technology. It uses ring signatures to provide anonymity for its users.

Ring signatures are effective because any one of a number of accounts could have signed a transaction, raising doubts about where the funds originated. Boolberry (BBR) avoids the blockchain bloat problems of other CryptoNote-based coins with an innovative form of blockchain pruning, reducing the blockchain by some 55%.

Although BTCD’s Teleport offers strong anonymity for SuperNET, this will be complemented by BBR; Boolberry transactions will provide on- and off-ramps for funds to move from the regular blockchain into BTCD’s anonymous ‘hyperspace’.

ChanceCoin

http://chancecoin.github.io

SuperNET is financially attached to CHA, but the lead developer has gone. jl777 has a big bounty for anyone who can continue the project. James writes:

If we get a java dev, it can be taken over. I can offer 1% of chancecoin to the new dev that is taking over. chanc3r said the tech was good.

Chancecoin was developed for the purpose of betting on dice rolls and other games in a decentralized casino. Casino gaming has a great userbase and decentralized gaming may soon become a core market for crypto.

Randomness is provided by published NY Lottery Quick Draw numbers, and owners of the coin are automatically invested in the house bankroll. Chancecoin’s protocol is built on top of the Bitcoin blockchain; the coins were created by burning Bitcoins during an initial proof-of-burn period.

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Coins outside the SuperNET CORE

As stated on http://www.supernet.org/en/home-of-the-supernet/what-s-supernet:

Only coins that bring one or more unique features to the network will be added to the core, though any other cryptocurrency can benefit from these features on a third-party basis. (For example, Litecoin would not be eligible for addition to SuperNET. However, it would still have access to Teleport, InstantDEX and other services).

In other words, any 1.0 crypto coin can enhance their wallet with SuperNET.

This will give them access to trading on SuperNET’s distributed exchange, all of its fully decentralized services and features, from the coins described in this article, other SuperNET CORE features as well as more 3rd party features developed for SuperNET.

The growing documentation of SuperNET API calls can be found here: http://wiki.supernet.org/wiki/API

SuperNET Newsletter #10

Welcome to SuperNET!

supernet-newsletter

As the end of the year approaches and the launch of v1 gets closer, developments are gathering pace – and so is interest in SuperNET. Once again, we have lots to report.

First up, a brief announcement that people have been asking about:

BTer has finally sent the last two dividends, SkyNET and Pangea, and they have re-enabled UNITY withdrawals. We recommend that anyone keeping UNITY on BTer withdraws to a NXT wallet – ideally the v.0 SuperNET wallet available from Multigateway.org. This not only gives you full control over your assets, but enables more reliable distribution of dividends.

You may also be aware of rumours of a pump and dump ring that has been operating on BTer, with some unpleasant accusations about threats made against other parties. Whilst it is not clear who is involved, it is always safer to keep your funds off-exchange. Now let’s talk SuperNET.

Topics

  • New CORE coin: VPN
  • SkyNET
    • The early bird SkyNET SALE
  • Remember tradebots?
  • InstantDEX
    • BTCD: Reference currency
    • JLH: Reference asset
    • Market making JLH
  • MMatrix
  • OPAL
    • Wallet update
    • OpalTKN
    • OPAL/jl777 teleport project
  • VRC update
  • BTCD revenues
  • Coinimal
  • Development update
    • Infrastructure update
    • Sportsbet
    • Bug hunters required
    • SuperNET compiled on Windows
  • SuperNET related links

NEW CORE COIN: VPN

A new core SuperNET coin has been added: VPN. James writes: ‘The new coin is not like any other I have seen. In fact it only runs on Windows, of all things, but this adds Windows expertise to SuperNET. More importantly it is a coin that is the doorway to China as it is done by a Chinese dev team. Now, have you heard about the Great Firewall of China? People there aren’t supposed to be able to use Google but there is a technical trick to allow for this. Yes, it is called a VPN. The new coin is vpncoin, also bitnet. This is a doorway to the China market for SuperNET. Do not underestimate this.’ See further here:

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Here is VPNcoin’s  ANN from bitcointalk. James’ commentary below:

###
I am not sure the marketing distinction, but we will be porting the vpncoin GUI to ride on top of the SuperNET API for comms. which they currently just use the bitcoin messaging
now with some help, it should be possible to get this VPN functionality for unix/mac

Oh, did I mention that as part of this deal, SuperNET will be handling a 50 million VPN rewards fund? This will be for the supernet slackers who are helping the bitnet and probably a dividend to SuperNET/NXTventure holders.

Did I mention that 600M VPN (that is 60% of current supply) will be burned this weekend? And SuperNET also receives for its acct 47M VPN.

60% of total supply burn + 10% being assigned to superNET = 70% out of market

The bitnet team is small and we need to help them fully integrate into SuperNET. To complete the deal the bitnet team will be getting 1000 SuperNET assets, so the SuperNET it is receiving a big discount and the expectation is that we will help them.

they have TOR / voice / chat / video / irc / VPN / HTTP Server

currrently 1 billion, 600M burnt, 97M to SuperNET with 47M long term HODL and 50M for SuperNET slackers that are helping integrate VPN, dividends, promotions, dev team has about 50M, and 60M is a long term reward for nodes. There is only ~200M public float now, but the 50M for the improving and 60M for node rewards will take time to hit the market. So to preserve marketcap it is 2.5x being price neutral, but probably a bit more due to the extra 50M that would reduce the basis. Like I said, this one is not easy to do, need to evaluate based on market cap and of course the CMC number is all wrong…
###

SkyNET

SkyNET (asset id: 6854596569382794790) has made a deal with FinHive (blockchain agreement txids 17121561730737863232 and 8809916241760899104):

  1. FinHive has made an agreement with SkyNET to become a wholly owned subsidiary of SkyNET
  2. In exchange for 45% of SkyNET and 4.5 million NXT, FinHive will work on the referenced plans
  3. All future revenues from FinHive operations will flow through SkyNET
  4. Revenues in excess of operating costs will be distributed as dividends to SkyNET assetholders
  5. Referenced plans: http://finhive.com/roadmap.html

‘FinHive intend to develop efficient trade-strategies and algorithmic-trading, by utilising the full depth of all generated analytics and AI results. It makes sense for FinHive not only to share but also to use new detected (unknown) market patterns, formations and other unique entry/exit signals for algorithmic-trading… It isn’t discussed how this will be organised later but the first step now is to generate the analytics at full depth and form a solid subscriber base. Information advantages will be monetized right after.’

This is a highly ambitious and exciting project, and it is no surprise that the asset has already gained a lot of interest. The concept is to reach out into the world of real-world trading as well as crypto, bringing revenues back into the crypto economy. Developer nexern writes: ‘As far as I know, no one has built something like this on this large scale before. There is a pretty big market for financial analytics/algorithmic trading and the goal is to enter this external market, generating a constant revenue stream for SkyNET and its shareholders. Merging crypto and traditional finance resources is promising.’

‘The tech and data is available and tested. Dev resources are already allocated and I don’t expect any real problems developing this beast. Sure, the workload is huge, because nearly all components are custom-built at low level but that’s all been taken into account. It is quite clear to us, we are building something big and unique here.

‘On the roadmap, sorry for the laborious English but as a non-native speaker it is difficult sometimes to express as precisely as desired. In case you have any questions or suggestions for improvements, I am here to do my best to answer them.’

Project preparation is under way and regular updates will be provided. ‘A dev blog is set up to provide general status information and updated progress details on each dev section. The first one, as seen in the roadmap, is the data-cluster and data aggregation. To make the development transparent, shareholders can not only monitor the progress but also view and test completed components. A webdesigner will take care about a shiny layout later.’

This happens to be an area of interest and expertise for James, who writes: ‘I spent 4+ years optimizing SVM [Support Vector Machines – pattern-recognition algorithms], and making useful features from forex price time series. nexern is proven dev, also proven ethics. Combining his NN [neural net] stuff, which would have been decent, with my SVM, well… I expect to have some quite profitable signals being created and transmitted to the Tradebots. Also, the space for SkyNET is not limited to crypto markets. I put in 3 million NXT of SuperNET funds, I also bought in the open market.’ (see below)

The early bird SkyNET SALE

An early bird SkyNET sale was announced on the forums (NXT price speculation thread, BTT SuperNET thread and SuperNET forum) as well as Slack. SkyNET assets were available to medium-to-large investors (typically 50,000 NXT and upwards). The minimum investment was specified to avoid the administration of many – perhaps hundreds – of transactions being required. In response to questions from those who missed out (the offer was oversubscribed very quickly), James writes:

‘I did post all the details. This was a fringe benefit for the most active SuperNET fanboys as I really appreciate all the hard work they are doing in constructing the SuperNET. SuperNET made 3 million NXT investment at 15 NXT each. As a reward to SuperNET contributors I allowed them to piggyback at same price. (yes, I know I am basically giving away free money, probably a few millions NXT worth, but gotta reward the fanboys dont I?)’

Therefore a total of:

300,000 SkyNET have been sold at 15 NXT
75,000 SkyNET were dividended out to SuperNET assetholders
75,000 SkyNET were dividended out to NXTventure assetholders.

Of these last 75,000, InstantDEX received about 30,000 (since it owns about 40% of NXTventure). These were passed through to InstantDEX assetholders, since InstantDEX has no specific need of them.

Remember Tradebots?

SkyNET/FinHive’s tech will be used for tradebots (NXTcoinsco). The tradebots asset manages tradebot ‘leasing’. The idea is that individuals create tradebots and allow others to invest in them on a profit-sharing basis – if the tradebots are successful, investors will receive a slice of their income. This operates like PAMM (Percentage Allocation Management Module), where investors allocate money to specific traders and share in their successes.

Tradebot creators can choose to pay for SkyNET data, and SkyNET itself is expected to be behind many, many different bots. Investors will look at the historical performance of a bot, meaning that the best strategies rise to the top; unlike normal forex markets, the tradebots will only make a charge to investors if they produce profits.

The incentives are therefore in place for designers to create successful bots, not simply convince investors to back them. Bots and designers with a strong track record will naturally attract greater investment.

InstantDEX, BTCD and JLH

Work on InstantDEX, the system that will enable near-realtime crypto trading, continues.

Generally in cryptocurrency trading, prices are quoted relative to BTC; Bitcoin is still the ‘reference currency’ since so many people use it. It is like the USD of crypto. The idea is to make InstantDEX look and feel like a regular exchange so that traders see something familiar, but under the surface, something very different will be happening.

BTCD: reference currency

Instead of using BTC as a reference currency for InstantDEX, James is using BTCD. There are various reasons for this, ‘some technical, some financial’. Key to trading of any kind, and to InstantDEX’s aims, is liquidity.

‘So all the SuperNET core coins they will have liquidity and low spread conversions between each other (and BTC) and be priced by default against BTCD. Of course, anybody can set things up however they want but the default for the orderbooks will be BTC for “normal” trading and if you are wanting telepods or best conversions between them, it will be BTCD. This I think solves the transition for traders and gets them into the SuperNET trading.’

In other words, all trades will go through BTCD: a DOGE -> LTC trade will really be DOGE -> BTCD -> LTC. One reason for this is that it requires liquidity for far fewer trading pairs; instead of ensuring that DOGE <-> LTC has liquidity directly, so long as DOGE <-> BTCD and BTCD <-> LTC have liquidity, the trade can be carried out with a BTCD stage in between (invisibly).

This has significant implications for BTCD, over and above the 5% revenues from SuperNET – since it will be in constant use. James writes, ‘I prefer not to make any specific price predictions, but it makes sense for BTCD price to track the price of SuperNET, not in lockstep as that is not how markets work, but rising in tandem.’

JLH: reference asset

The same problem with creating all trading pairs with sufficient liquidity also exists for assets, only it is worse as there are typically larger spreads for assets. ‘It is just not practical to support direct orderbooks for a full matrix of all asset pairs. What is needed is a reference for assets that is like the “DOW Jones” index, something that represents the overall asset market and not anything else.’ jl777hodl (JLH) will be used as the reference asset, in the same way that BTCD is the reference currency for InstantDEX.

‘I expect JLH trading volumes to go up, a lot, and the spread around the NAV to shrink, so this is not a “moon” thing, but a liquidity thing and liquidity is quite important. Once we can maintain small spreads like 0.1 with volumes for JLH orderbooks, that would mean going from asset <-> asset will also have much better spreads than now.’

Spreads are currently anything from 5-20% for some assets, and trading can entail significant losses through this alone. High liquidity with BTCD and JLH will mean any coin and asset pairs can be traded efficiently. It also enables an ‘autoconvert’ feature that enables users to view their portfolio denominated in whatever currency they want to view it (BTC, BTCD, USD, UNITY, JLH…) without the actual conversion incurring major losses.

‘At this point, crypto becomes much more useful as a medium of exchange and store of value and then the Tradebots will be able to find many more ways of squeezing out more satoshis. I am envisioning a realtime display of the account balance and with tradebots active, you would be able to see it change in value as it is happening. Imagine a wallet, you denominate it in EUR, unleash the tradebots and it starts showing more and more EUR in your account. It is this vision in my head and just needing to get it all debugged, all the pieces are pretty much there, but so many pieces the connection points aren’t quite right, but it is just a lot of debugging and all of this comes to life at the core of SuperNET, with all the other stuff on top.’

Market making JLH

In order to give JLH adequate liquidity, libertynow has taken on the role of a market maker. He is regularly calculating the NAV and placing buy and sell walls to reduce the spread to < 5%.

New assets are periodically added to JLH, and since these have not been announced and/or do not have a market price, the fund is generally undervalued.

MMatrix

Ensuring liquidity is key to the smooth operation of InstantDEX and, therefore, SuperNET.

‘I am currently working on market maker support for InstantDEX,’ writes James. ‘There will be a limited number of spots available to be a MM, prioritized by the amount of fees paid, so naturally the best market makers rise to the top of the list. At first, maybe just a small donation payment will be enough to get to the top of the list. Then 32 (or 64?) of the market makers will make a matrix, I call the MMatrix. The InstantDEX users would contact the first market maker in their sorted list for their offers, so the higher on the list the market maker is, the more orders it has the pick of.

‘For the orders the MM doesn’t want to immediately fill, they broadcast to all the other market maker nodes. This gives advantage to the MM at the top of the list as they get to cherry pick the best orders, but ignoring this incentive to pay fees, as far as users are concerned, all the market makers have the same orderbook (other than the one packet delay).’

MMatrix will be very fast. ‘It should have less than 1 second round trip to any point in world, so all the nodes query the selected MM, who can cherry pick the offers they like, that is how they make extra money in addition to normal market making. Anybody can register to be a market maker by posting an AM. The priority to order resolution will be the first MM with acceptable price, searched in order of past business levels, so the MM with the best spreads will naturally rise to the top of the list. This is only for orders between the NXT AE bid/ask – otherwise just go direct to the AE orderbook.’

OPAL

Wallet update

MANDATORY WALLET UPDATE
UPDATE ASAP SO YOU DON’T FORK:

https://bitcointalk.org/index.php?topic=778720.msg9839574#msg9839574

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OPALTKN

OPAL coin has issed an asset on the Nxt Asset Exchange. OPALTOKEN will receive 25% of revenues from the OPAL market. The standard fee is 1% of sales. This is still in beta and trades are denominated in OPAL, so the dividends will likely be in terms of mgwOPAL. You can keep up with developments here.

A total of 15 million OPALTOKENS (OPALTKN) will be distributed and dividended out as follows:

10% to SuperNET
10% to NXTventure
5% to jlh777hodl
25% to the OPAL team
50% to faucets

This is in addition to the recent OPALTKN giveaway that took place via Slack and the forums. These tokens came from the faucet allocation.

OPAL/jl777 teleport web project

What: James would like the OPAL team to develop a ‘telepathy web’ on top of his basic html site pushing mechanism. Telepathy is BTCD and the SuperNET’s private communication system. Opalcoin will develop an easy-to-use publishing GUI, as well as help develop integration with privacy servers. This will be considered an OPAL contribution to supernet, and OPAL will be credited.

Why: To address the flaws in TOR and create a more decentralised web mechanism. James has already developed the basics; as the technology progresses, more functionality will be released.

How: Interfacing with SuperNET, the OPAL team will add and build in qt features with C++, while James develops the backend in C.

VRC update

effectstocause writes, ‘Almost done with major components of supernet integrated vrc wallet. Then focus will move more so to DHT storage. We will discuss differences and similarities of Storj with Opal for optimal impact. We actually had a lengthy conversation with Storj at btc Chicago. Cool guys.’

BTCD revenues

People have been asking for some clarification about the role that BTCD will play in SuperNET and the revenues that will be paid to it.

BTCD is at the core of SuperNET. To reflect this, 5% of SuperNET revenues will flow to BTCD stakers. (Periodically a snapshot of stakers will be taken and BTCD purchased using SuperNET revenues to distribute to them, pro-rata.) At this point, this has no direct impact on BTCD value. However, ‘long term it should dominate the value of BTCD as there are only 1.2 million of them.’

This also provides a safety net for BTCD. Unlike other coins, which can theoretically plunge in value, ‘it will always have a nice floor due to the 5% of SuperNET revenues, which is actually 10% of what SuperNET assetholders get, since SuperNET holders get 50%, NXT core devs 5%, BTCD stakers 5%, SuperNET core coin communities 20%, overhead and expenses 10%, TBD 10%’.

Teleport and Telepathy papers (core BTCD technology) can be found at http://209.126.70.170/DarkPaper.pdf  and http://209.126.70.170/Telepathy.pdf.

Coinimal

Coinimal is to launch very soon. This SuperNET-integrated service will allow fast Euro-crypto purchases. Twinwinnerd writes,

### I am looking for Beta-Testers of Coinimal!
If you are from a country below and have access to a bank account, I need you to
Buy: BTC, NXT, LTC
Sell: BTC

Buy side:

SOFORT: Belgium, Germany, Italy, France, Austria, Netherlands, Slovakia, Spain.
EPS: Austria
Skrill OBT: Austria, Germany, Spain, Italy, France

Sell Side:
All Europeans with a Euro Sepa Bank Account.

Reward: 100 NXT per Tester!

PM me for Beta Key!
###

‘Localbitcoins is maybe now the fastest but in 9 days Coinimal will be. And we offer more coins than BTC…’ You can sign up here, to receive a Lanch Announcement: https://www.coinimal.com  Find out more here.

Bitcoin Shanghai Expo

SuperNET was introduced at the Chinese conference (28/29 November). Salsacz writes: ‘During my speech on day 2 I presented SuperNET as a solution for using any anonymous technologies without the need of exchanges and risks of revealing your IP, email or freezing account or getting it stolen. In the brief summary during the speech I introduced James as a dev, his assets and also explained the diagram and the story about the Pirates. I brought all whitepapers, even the chinese versions.’

Read Salsacz’ article about the event here: http://test.nxter.org/nxt-supporting-the-student-revolution-in-hong-kong/

Development Update

Infrastructure

SuperNET’s infrastructure is a network of servers running around the world – many on users’ home computers and cheap VPSs, but also a series of high-quality nodes that will provide the backbone of the service. James: ‘It is boring compared to SkyNET, but still quite important. As we get closer to initial release with core functions, we need to have the infrastructure, especially MMatrix.

‘So SuperNET contracted for 10 mega servers to start and will probably get a lot more. For people concerned about the “Instant” of InstantDEX and core capacity of DHT this solves that, as the best software running on snotkitten class hardware will just not provide the performance people will expect.

‘Boring compared to new asset, but quite a nice foundation for the network to run on. Most people won’t have any such servers, but most won’t be running a MMatrix node, so, need to make sure MMatrix node capability is known, tested and then the monetization it will generate can be calibrated.’

SportsBet

The sports book is nearing completion. However, James needs ‘someone that understands the different events and enough XML syntax to make templates. Then the code can automate the sportsbook creation. This would then plug into InstantDEX for peer-to-peer betting.’

Bug hunters required

There are big bug hunting rewards (https://forum.thesupernet.org/index.php?topic=301.0) available for anyone who can identify significant bugs in the SuperNET API. Rewards of UNITY will be paid out to anyone who can find problems, with a sliding scale of amounts. The API is largely untested, so there should be lots of bugs to find!

Rewards will be paid out at the end of each week to bug-finders and will continue for 5 weeks (until early January 2015).

Last week’s payout: Cassius: 33.33 UNITY, Longzai 33.33 UNITY, Cryptosleuth 33.33 UNITY.

If you find a bug please make sure to post it on Slack (in the API channel and to Azeh) and on the SuperNET forum here: https://forum.thesupernet.org/index.php?topic=296.0

At this point, it is question of finding as many people as possible to issue API calls manually and seeing whether it acts as expected. However, l8orre has a more advanced setup – a scripting and testing controller in built in Python3. ‘Right now it has a facility to plug in controller classes. What does work is using this as a relay which sort of is the same as using curl. The scripting class exists, but I need to extend it a little bit. Schedulers are also provided… i.e. timers that check back regularly for pre-registered actions every 4 seconds, do ‘settings’, then loop over the whitelist and ping every IP in the whitelist, then do GUIpoll and see if there is a pong, but it may need some honing to streamline it a bit… In its simple form, it does the same as curl…’ If you’re interested in helping, contact l8orre.

SuperNET compiled on Windows

BTCDdev writes, ‘Some great news today! I finally managed to successfully compile SuperNET on Windows! This will have a VERY great and immediate effect on our community! Once jl777 and I knock out a few minor kinks in it, anyone running Linux or Windows will be able to become a SuperNET tester and begin using its awesome services! With a nice GUI doing very well under development by longzai1988, hundreds of people in slack and more joining every day, and now this, we can rest assured that our community has some great days ahead!’

SuperNET related links

SuperNET news

Newsletter signup
http://supernetwrk.weebly.com/newsletter.html 

https://twitter.com/Jl777News
http://jl777news.tumblr.com/
https://www.facebook.com/jl777official 

SuperNET Newsletters archive
http://test.nxter.org/category/supernet-newsletters/

SuperNET Slack
http://104.236.15.119:8086/logs is a log of the public channels

Community

Supernet Forum
https://forum.thesupernet.org 

PM noashh for an invitation to SuperNET Slack!

SuperNET CORE coins

NXT
http://nxt.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

OPAL
http://www.opal-coin.com 

VPN
https://bitcointalk.org/index.php?topic=757614.0

SuperNET related projects

BITS (SuperNET CORE component!)
https://bitcointalk.org/index.php?topic=748045

SkyNET (FinHive)
https://nxtforum.org/finhive/
https://nxtforum.org/nxtventures/reserved-6826/

Coinomat
https://coinomat.com

Neodice
https://nxtforum.org/nxtventures/(pre-ann)-neodice/

Freemarket
https://nxtforum.org/nxtventures/freemarket-official-thread/

ATOMIC
https://bitcointalk.org/index.php?topic=780833.0

Pangea
https://nxtforum.org/nxtventures/pangea-poker/

Jay
https://nxtforum.org/nxtventures/jay-decentralized-plugin-network-asset-8688289798928624137/

Omnigames
https://nxtforum.org/nxtventures/omnigames-asset/

SNN
https://forum.thesupernet.org/index.php?topic=118.0

Coinimal
http://coinimal.com

ShortUNITY
https://nxtforum.org/assets-board/shortunity/ 

Prediction Markets

https://www.fairlay.com/predict/registered/new/supernet-in-top-10-of-coinmarketcap/
https://www.fairlay.com/predict/registered/new/supernet-in-top-5-of-coinmarketcap-before-2016/ 

Author of SuperNET newsletters: NXTER MAGAZINE: http://test.nxter.org

SuperNET Newsletter #9

Welcome to SuperNET!

supernet-newsletter

It’s that time again, and once more there have been lots of developments since our last newsletter. A new promising coin has joined the SuperNET core, a SkyNET dividend has been announced, and we’ll walk you through the current holdings of SuperNET as well as this week’s development. Hang on.

Topics

  • New core coin OPAL
  • SuperNET client v0 update
  • SkyNET December asset dividend
  • The buywall is back
  • SuperNET Holdings
    • Coins
    • Assets
    • More on the value of future dividends
  • Other announcements
    • Vote James
    • Nxt-starter SuperNET plugin
    • Freemarket Concorde
  • Coinimal profit-sharing deal
  • Freebieservers
  • Pangea
  • Jaynodes
  • Instant decentralized crosschain exchanges
  • Development update
  • SuperNET related links

New core coin OPAL

OPAL is the newest SuperNET CORE coin. On November 27 James made a pre-announcement that a new coin had been selected. On Saturday the news about OPAL hit, and the jl777 effect set in…

OPAL had already experienced a significant rise in price, roughly tripling over the previous 24 hours with their announcement of their Storj partnership. The SuperNET ANN gave the OPAL rocket extra fuel, spiking the price from 0.00003 up to a peak of 0.00007. After predictable profit-taking, the price now seems to be oscillating around 0.00004. James comments that SuperNET owns something in the region of 9.4% of OPAL. The substantial gains this represent should be reflected in the SuperNET NAV: ‘Small stuff in the big picture, but nice nonetheless.’

In case you missed the drama, find out more on the Opal website: http://www.opal-coin.com. Some early press can be found on CoinTelegraph and you can download the OPAL Android wallet here: https://play.google.com/store/apps/details?id=org.coinlabs.opalcoin

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This brings the list of CORE SuperNET coins to six: NXT, BTCD, BBR, VRC, CHA and now OPAL. BITS is also a core partner.

SuperNET v0 client update

The SuperNET client has been updated. Although not critical, 1.3.4.3 provides a few extra features and fixes:

  • Added compatibility to NRS 1.3.4 (the latest NXT release)
  • Coinomat
  • Added CoinoUSD currency
  • Prevent user input from reset when refresh occurs
  • Fixed generateToken not working on remote host
  • Fixed testnet warning when port 80 is used

The easiest way to update to 1.3.4.3 is to download the .zip file from the link above or the Multigateway site and unzip it to its own directory. All of your information should be stored on the blockchain, so you will just need your passphrase to access the wallet. To speed up getting started, you may want to copy the “old” database folder (nxt_db) to the new installation. This avoids having to download the blockchain again.

SkyNET December asset dividend

Codename: SkyNET (asset ID 6854596569382794790).

1.5 million NXT worth of the asset sold out overnight, when James gave the opportunity for medium-to-large investors to get in on the ground floor with the new asset. James wrote, ‘For a limited time only and in lots of 50,000+ NXT, I can offer assets of an upcoming SuperNET deal. PM me on slack if you are interested.’

The sale is over, but the asset will soon be dividended out to SuperNET holders.

James writes:

### What SuperNET would be complete without a SkyNET?

Combine cutting edge AI techniques with blockchain technology.

Now in the realworld, companies in this space are getting some crazy funding: http://www.bloomberg.com/news/2014-11-24/ai-startup-sentient-raises-103-5-million-in-funding.html

Not saying that SkyNET will be in the same league as the above, we will have to wait to see what SkyNET thinks
###

James will give more information about SkyNET and release the asset dividend soon, as enough people have registered their interest (using the now-familiar ‘yes’/‘now’ poll): https://nxtforum.org/nxtventures/reserved-6826/

The buywall is back

The buywall has been reinstated. James confirms: ‘I put up a 1 million NXT buywall at 160 NXT on NXT AE and by Monday on BTer there should be the same 1 million NXT buywall at 160 NXT.
‘It is probably a bit above the strict asset NAV, but with 168 now in slack, the value of so many in the realtime SuperNET community is giving me very good feeling for the future. Half a dozen new channels spontaneously formed this week. So the decentralized power is coming into play as I didn’t even know about them until I looked at the list of channels.
‘Also, the market is not properly valuing the SuperNET holdings of Pangea, Jay, Omnigames and other assets, but I set it below the current market price so as not to affect current market.’

The current market price for UNITY is around 200 NXT.

SuperNET holdings

There has been some (understandable) confusion about the many and varied assets that SuperNET holds, as well as the structure of these assets and SuperNET in general. A quick summary of the coins, first: ‘Off the top of my head, there is approx 10% of: BTCD, VRC, OPAL, BBR, BITS, 5%+ of CHA and NXT,’ writes James.

Then the assets that will generate revenue for holders: ‘SuperNET is the main holding entity, but it holds some assets that in turn own other assets. It is like a directory structure. So the leaf nodes would generate dividends to its holders, this would include the individuals and other assets. Then the assets that got these dividends from the other assets (Privatebet being a prime example of this) would add its own operating profits to the dividends it got and dividend this to its individual holders and other assets…’

‘I believe the longest path is:
neoDICE -> Privatebet (NXT-ZGGJ-5G8H-K24Y-3BD8S) -> NXTprivacy (NXT-KKNV-8EPK-W2S4-96VTK)’

‘The idea is that the specific gaming (or other type) asset, in this case neoDICE, will be the item that directly reflects the performance of the neoDICE. And all the gaming assets are routing dividends or revenue share via Privatebet (it owns 35% of neoDICE and has 20% revshare deals with Pangea and Omnigames). Privatebet will also directly have its own decentralized sportsbook next year. So, Privatebet will have meaningful fractions of half a dozen+ other gaming assets, with a percentage of 20% to 25%, this should add up to more than the average of any specific asset, though the diversification protects from any large change (up or down) and it is meant to reflect the aggregate decentralized gaming sector.
‘The following is NXTprivacy’s holdings, anchored by 60% of Privatebet:

Cryptocard: 400’000 of 1’000’000 = 40.00%
Privatebet: 600’000 of 1’000’000 = 60.00%
SuperNET: 537 of 816’061 = 0.07%

‘NXTprivacy will also have direct fees from Teleport, so it has a book value in excess of (40% of 7 + 60% of 40) = 26.8 NXT per asset. Since it is trading at 28/34, if you are able to buy at 28, that is like paying 4 NXT for Teleport revenue stream.

‘The NXTprivacy dividends would flow into SuperNET and from there to its holders, coin communities, etc.
‘I know it is a bit complicated, but due to compartmentalization requirements and also some legal insulation, it was deemed to be the safest path. For example, some people are concerned about some legal issues with owning “gambling” based assets as some primitive countries make that illegal. However, if you own something that owns something that owns something that owns something that does a decentralized dice game and each entity is having a specific purpose other than adding “distance”, I think it is helping on the legal side.

‘Over time, I expect Privatebet to gather more and more gaming assets, and of course SuperNET itself to continue to add to its collection of assets.’

On the subject of assets, for future dividends we have:

Jay: 75’000 of 1’000’000 = 7.50%
Omnigames: 75’000 of 1’000’000 = 7.50%
SNN (SuperNET News Network): 75’000 of 1’000’000 = 7.50%

Internal holdings include:
Pangea: 597.7454 of 1’000’000 = 0.06%
SuperHODL: 10’000’000 of 10’000’000 of 100.00% (see below)
SuperNET: 6’503.956 of 816’061 = 0.80%

Core holdings:
InstantDEX: 241’485 of 1’000’000 = 24.15%
NXTcoinsco (tradebots): 241’485 of 1’000’000 = 24.15%
NXTprivacy: 241’485 of 1’000’000 = 24.15%

SuperHODL contains:
Jay: 400’000 of 1’000’000 = 40.00%
MyNXT: 17’200 of 100’000 = 17.20%
Omnigames: 400’000 of 1’000’000 = 40.00%
Pangea: 414’454.1309 of 1’000’000 = 41.45%
SNN: 700’000 of 1’000’000 = 70.00%

‘A portion of SNN is allocated to the writers and MyNXT only has 100,000 total assets, so it is looking much smaller than the others but if you look at the percentage owned it is at a healthy 17%. SuperNET/UNITY is thus a very diversified single asset that is the sum of all its parts. Keep in mind that these are mostly independent projects and different ones will come online at different times, so there won’t be a switch that just starts a flood of dividends. It will start with a small trickle and as the dozens of dividend sources all combine and grow, the SuperNET dividend will eventually become quite substantial.

‘However, I could not estimate accurately when all this would come online, nor what the levels would be, so I priced the ICO at book value. That means that purchasers of SuperNET got all the future revenue potential for free and the price performance during the bear market has proven that asset (and crypto) backed SuperNET is the superior model. Certainly there is development and timing risk, but nice to have a solid floor.’

Funds in SuperHODL are pre-authorised for spending. James is not authorised to touch other funds, except for those in transit. To improve security, most of the cash NXT is in one account, and assets in a separate one.

More on the value of future dividends

Re the dividends mentioned above:

### There are 75000 each of omnigames, Jay and SNN in the pipeline, so just a bit less than 1 asset per 11 UNITY assets. With an average market price of 30 NXT for these, 100 UNITY would get 11 * 30 * 3 = 990 NXT worth of dividends. Timeframe is totally unpredictable, but with the market price of about 180 NXT this is 1/18’th > 5% return just from the dividends.

Keep in mind that 90%+ of UNITY value is backed by the BTC, NXT and other crypto it holds and it uses this to put up buywalls to allow for liquidity. Currently there is 2 million NXT worth of buywalls at 160 NXT, one in NXT AE and one in BTER.

I target a risk profile of 20% on the downside and X% on the upside. If you hold onto the asset dividends and they grow, then the yields are better of course. I didn’t charge anything for the revenue side of SuperNET as it was sold at NAV, e.g. liquidation value and this is why it has held its value throughout the bear market.

James
###

Other announcements

James got nominated for the Proof of Honour award mentioned in the last newsletter.
So now he’s up for vote: http://www.coinssource.com/vote-jl777

A brief note from POPPP about the CoinEvolve rescue project, http://Nxt-starter.com:
‘My SuperNET plugin will be ready this week or the next one.’

And one from Poofknuckle of FreeMarket:
‘Pre-announcements, it’s what all the cool kids are doing! We don’t want to be left out, so here is our pre-announcement of a new feature for FreeMarket. Codename: “Concorde.”

‘What is it? I wish I could tell you. More info as it gets closer to release…’

Coinimal profit-sharing deal

A new initiative called Coinimal, a Euro-crypto gateway, reports this profit-sharing deal with SuperNET:

######
Coinimal GmbH with SuperNET

www.coinimal.com

In return for being featured as the EUR-gateway in the SuperNET, Coinimal GmbH agrees to the following Profit Share Deal:

* All orders submitted through the SuperNET Plugin are eligible for this deal.
* The Profit from eligible will be distributed in the following way:

51% SuperNET
49% Coinimal GmbH

* The Profit Share can be distributed freely but SuperNET is not allowed to issue an asset that includes the name “Coinimal” in the asset title.

* The Profit Share will be paid monthly.
* The Payment will be made in Bitcoin.
#####

You can read more about Coinimal in this ANN.

Freebieservers

Freebieservers is an interesting initiative to integrate NXT with a free gaming server platform. This is particularly promising as the business caters to crypto’s core demographic and growth area: Technically literate teenagers and young adults (typically male). You can read more here. Some updates from Freebieservers:

We will be selling  350,000 shares at 2 Nxt each to raise 700,000 Nxt. Out of this 7500 USD worth nxt will be flown into completion of development efforts that have been going on.

The rest of the budget will be used for servers, marketing and maintenance. Post the revamps (which will finish by Jan 15th) , our sole focus would be on user acquisition and scale.

While we’ve actively looked into various crypto’s as a means of advertisement/partnership, if nothing fruitful occurs by the stipulated date for launch of v2.0 we’ll be going with other advertisers (glispa.com integration for eg) and attaining scale.

Jan 15 – April 15 will be solely used for scale of the project and occasional integration of SuperNET into our operation.

The goal is to sign up 1 million users, all of whom will be introduced to NXT as a core element of the platform. The current userbase is around 75,000, and there are substantial opportunities to access new markets where there is established interest already.

Pangea

Decentralised poker app Pangea has had a GUI upgrade – take a look here:

[fusion_youtube id=”c1fl39lUiAs” width=”” height=”” autoplay=”false” api_params=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=””][/fusion_youtube]

5000bitcoins writes:

We’ve been discussing a few more sensitive things privately the last couple of days. I’m going to set up a Pangea section on NXTforums with two things I need input on for now: A couple of set avatars to pick from; and discussion of how to get a steady flow of players. I’ve got a few ideas. Most importantly I am on the marketing side of things, so my real goal is a solid strategy to get fiat players to Pangea! I’m going to fill this section with subjects of discussions so we can get many different ideas/brainstorming going and end up with the best of them.

Ask in Slack or on the NXT forum for more details if you’d like to chip in.

Jaynodes

Last week a future asset dividend called ‘Jay’ was announced. Here’s a little more information.

jonesnxt is working on a light wallet and a framework to go with it. This is a significant step, since the majority of users won’t want to download a client to use the SuperNET. James comments, ‘This will totally revolutionize crypto adoption! All SuperNET coins/services crypto secured, but accessible via normal web browser.’

###
Jay is a framework made in javascript that runs on a number of different websites and makes sure that the version it is running is secure. It then has a large API of NXT and SuperNET functions for plugins to use. The Jay node calls any number of random SuperNET servers, and can then get a valid response from any coin connected to the superNET.

Plugins are compressed and saved into chains of AMs through NXT, until they are loaded into the client and run. The entire client itself is built up of different plugins, so different websites can set up configurations of plugins to best use the main plugin that the website would promote.

So, a website like MGW would have a jay node at multigateway.com/jay, for instance. Then they would configure the default setup to have the MGW plugin along with a few of their favorite plugins to point users to in order to easily use the features on the internet with security and without additional downloads. 

Distributed consensus

All nodes on the nodelist (NXT) are public nodes with cors enabled and hallmarked (around 20 good ones). Each API request is sent to three randomly-selected servers in parallel. If the three servers are in complete agreement on the data, then it is deemed usable.

If there is any discrepancy, another round is called, and two more randomly selected servers go into the mix. With now 5 servers polled, if the second round are in agreement and side with any of the first round’s data, that data is selected.

Otherwise it starts breaking down the data and finds consensus if it can. I might add a blacklist if there are servers that are continuously outvoted by the other nodes

So basically, at any given request, the best case scenario being n where n is equal to the node with the slowest response, the less likely edge case gives us 2n and the very rare ‘under attack’ case gives us 3n.
###

Instant decentralized crosschain exchanges

Long time no mention of ATOMIC in the SuperNET Newsletters. A powerful new development is in the works, let’s have a reminder from ATOMIC developer Cryptaxe:

‘Basically it is a decentralized exchange run by everyone who wants to participate (as a miner) in the ATOMIC network. Imagine bittrex or cryptsy without the need of a website – pure and straight cross-blockchain trading of coins/assets, that is ATOMIC. A ledger that ANY crypto-currency can use in order to record transactions and exchanges.  

‘For example, a user requests to exchange Doge for BTC. A request to InstantDEX is made, and then InstantDEX makes use of the Atomic ledger to record the transaction in a decentralized way. It’s a trustless way for exchanges to be recorded and a way to make payments from one blockchain to another. ATOMIC, InstantDEX and MGW (Multigateway) are all layers of the same idea.’

‘This is like three branches of a self-regulating transparent government. By recording transactions to the public ledger the exchanges are basically trustless, which is what blockchains are for, decentralized trust.’

You can read more here:

Development Update 

James writes: ‘I am still in MGW. I almost finished porting the MGW into SuperNET. Now anybody can process deposits, so theoretically, there could be 100 people who all deal with 1% of the deposits. Also I figured out how not to need any AM messages to correlate the tx, at least I think I did, still need to debug the withdraw side to make sure. Once you are set up, it takes just a few minutes to get current status.

‘MGW is being used by SuperNET before, now all the nodes will have MGW code built into them.

curl -k –data-binary ‘{“jsonrpc”: “1.0”, “id”:”curltest”, “method”: “SuperNET”, “params”: [“{\”requestType\”:\”MGWdeposits\”,\”specialNXT\”:\”7117166754336896747\”,\”coin\”:\”BTCD\”,\”asset\”:
\”11060861818140490423\”,\”NXT0\”:\”423766016895692955\”,\”NXT1\”:\”12240549928875772593\”,
\”NXT2\”:\”8279528579993996036\”,\”ip0\”:\”209.126.70.170\”,\”ip1\”:\”209.126.70.156\”,\”ip2\”:
\”209.126.70.159\”}”]  }’ -H ‘content-type: text/plain;’
https://127.0.0.1:7777/

‘The above curl command run locally processes MGWdeposits and it is runtime configurable for what coin/asset and the servers are specified. If there was Phasing, then as long as the required number of people run the above command, the deposit transfer would be approved. Of course it would run in the background, so as long as enough people are running it.’

This raises the security of MGW by raising the 2-of-3 consensus requirement, subject to phasing limitations on the deposit side. ‘A similar thing could be done on the withdraw side, but the problem becomes the requirement of having multiple triplets and load balancing (i.e. unspent deposits matching withdraw amounts).

‘It would be possible for any N people to set up their own MGW address that can be used to issue deposit addresses and process withdraws. Basically I just wanted to merge the code bases and intend that the production MGW guys can run MGW via some API commands, but the tech will be there for anybody to use. It’s still  in experimental libjl777, not approved for anybody not familiar with MGW (yet).’

SuperNET related links

SuperNET news

Newsletter signup
http://supernetwrk.weebly.com/newsletter.html 

https://twitter.com/Jl777News
http://jl777news.tumblr.com/
https://www.facebook.com/jl777official 

SuperNET Newsletters archive
http://test.nxter.org/category/supernet-newsletters/

Community

Supernet Forum
https://forum.thesupernet.org 

PM for an invitation to SuperNET Slack

SuperNET CORE coins

NXT
http://nxt.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

OPAL
http://www.opal-coin.com 

SuperNET related projects

BITS (SuperNET CORE component!)
https://bitcointalk.org/index.php?topic=748045

Coinomat
https://coinomat.com

Neodice
https://nxtforum.org/nxtventures/(pre-ann)-neodice/

Freemarket
https://nxtforum.org/nxtventures/freemarket-official-thread/

ATOMIC
https://bitcointalk.org/index.php?topic=780833.0

Pangea
https://nxtforum.org/nxtventures/pangea-poker/

Jay
https://nxtforum.org/nxtventures/jay-decentralized-plugin-network-asset-8688289798928624137/

Omnigames
https://nxtforum.org/nxtventures/omnigames-asset/

SNN
https://forum.thesupernet.org/index.php?topic=118.0

Coinimal
http://coinimal.com

ShortUNITY
https://nxtforum.org/assets-board/shortunity/ 

Prediction Markets

https://www.fairlay.com/predict/registered/new/supernet-in-top-10-of-coinmarketcap/
https://www.fairlay.com/predict/registered/new/supernet-in-top-5-of-coinmarketcap-before-2016/ 

Author of SuperNET newsletters: NXTER MAGAZINE: http://test.nxter.org

SuperNET Newsletter #7

Welcome to the SuperNET. A SuperNET alpha client release v0, the SuperNET v1 team defining the next and official release, NXT Freemarket update, MGW production servers running, a decentralised poker project coming together, and 100+ supporters and programmers active in Slack – it’s time for another update! This is SuperNET Newsletter #7.

Topics

  • SuperNET client v0
  • Multigateway
  • How MGW works
  • Coinomat
  • Freemarket update
  • SuperNET Tech Tree
  • InstantDEX
  • SNN
  • More about BTCD
    • Where’s Wally?
    • STASH
  • Development Update
  • SuperNET code review
  • SuperNET related links

SuperNET client v0

A preliminary SuperNET client (v0) has been released. This is an enhanced NXT wallet that includes the Multigateway, so can replace the standard NXT wallet with no loss of functionality. v0 is a standalone software: just install once and enjoy the combined features of Nxt and SuperNET.

Current features include the NXT client, Multigateway, Coinomat exchange, Dividend capability and Voting. v0 is the first raw version of the SuperNET client. Further features like BTCD teleport, neoDICE, CHA’s casino and so on, will all go inside this package, so it’s essentially a NXT client release with SuperNET-related functionality.

All NXT’s 2.0 features, like the Asset Exchange, encrypted messaging, the Alias System and Nxt Marketplace, are also available from within the client. To download the SuperNET v0 client, go to https://forum.thesupernet.org/index.php?topic=247.0
Screenshots: http://imgur.com/a/bljE4#0

Further features will likely be added in a rolling release until the ‘official’ SuperNET v1 client is launched, around Christmas.

Multigateway

The Multigateway’s production servers passed testing and are now live! The MGW UI is integrated in the preliminary (‘v0’) version of the SuperNET client. Please do download it and take a look at what it can do – it’s a sample of SuperNET’s coming capabilities.

The Multigateway (MGW) is NXT’s distributed cryptocurrency exchange platform. It enables users to send coins to the MGW’s secure servers, in return for coin tokens that can be traded against NXT on the Asset Exchange. The coins are kept in multi-sig addresses, whilst the NXT assets representing other coins (mgwBTC, mgwLTC, etc) are stored on the blockchain. Three servers operate for each coins, enabling trustless crypto-to-crypto transactions.

There are currently six different operators in Multigateway, as different coins are housed on dedicated and hardened servers run by different parties. As further coins are added, more server clusters will be required.

MGW Cluster #0: Frohike, Abuelau (MyNXT), Coinomat (BTC)
MGW Cluster #1: marcus03, Cobaltskky, jefdiesel (DOGE, BC, VIA)

James will keep a seventh development server online for as long as Multigateway users move to SuperNET UI and production servers.

For more information and a download link, see the SuperNET v0 installation guide:
https://multigateway.org/user-guide/installing-the-software/

How MGW works

MGW creates a unique deposit address for your account, for each of the supported coins. When you send coins to that deposit address, MGW will deliver the same quantity of coin assets to your NXT account (for example, 1 BTC will become 1 mgwBTC asset).

All the MGW deposits are held in multisignature accounts matching all the released assets 1:1 – there is no fractional reserve here! Coin assets can now be traded in the NXT Asset Exchange like any other asset .You can buy them with NXT, sell them for NXT and send them to any other NXT user with the fast speed of the NXT network. MGW allows you to withdraw your coin assets back into your corresponding coin wallet, with the lowest withdrawal fee in the market – equivalent to the minimum transaction fee for the coin.

What are the advantages?

MGW is significantly more secure than a centralised exchange, with no single point of failure. It is also far more cost-effective to use.

In a multisignature account, the same address has several associated private keys or signatures. This means the servers have to agree, each of them providing their signature, in order to process the coin transactions – in a similar way to a joint bank account. The use of multisignature accounts and independent servers makes MGW more secure than any traditional centralised exchange account.

IMPORTANT NOTICE TO EXISTING MGW USERS

The production servers use a new asset ID for mgwBTC. Existing owners of mgwBTC need to swap their old assets by sending them to a special redeem account. This will automatically send back the same amount of the new mgwBTC asset.

mgwBTC redeem Nxt account: NXT-6YQW-HHCG-NATW-DCHJ3
Production mgwBTC asset ID: 17554243582654188572

The old mgwBTC asset (4551058913252105307) can of course still be traded in the existing market in the Asset Exchange, and users running a previous version of the software will be able to withdraw these through the old servers for some time. However, we recommend you update your assets for a greater stability and growing activity in the service.

Coinomat

Another SuperNET CORE service which has been integrated in the preliminary SuperNET v0 client is the Coinomat tab. It enables you to exchange your Bitcoins directly in the client.

With the SuperNET v0 client running, you can also trade assets on the Nxt asset exchange. Coinomat offers CoinoUSD (asset ID 12982485703607823902, a USD-tied asset. 1 CoinoUSD always holds the value of $1. It’s traded against NXT on the asset exchange, thus creating the first NXT/USD decentralized market, it can be traded for BTC/NXT/XMR on the centralized exchange Poloniex, and you can buy and sell it using Coinomat services.

CoinoUSD can be withdrawn to Perfect Money, EgoPay, OKPay – or VISA / Mastercard.
Read more about the use cases here: http://blog.coinomat.com/coinousd-usd-on-blockchain/

Freemarket

A new version of NXT Freemarket is ready for download at http://nxtfreemarket.com/

NXTFreeMarket is NXT’s decentralised market place – a little like eBay, but with super-low fees (no fees until 2015, and then only 7.77 NXT per listing). It’s also getting some great press: There’s a podcast from Free Talk Live http://www.freetalklive.com/content/podcast_2014_11_10 and this one from CoinTelegraph: http://cointelegraph.com/news/112883/dear-online-drug-buyers-your-problems-are-solved

FreeMarket’s complete list of new features includes:

  • A standalone version (no more messy install!)
  • Seller ID in item listings is now a link to see all items from that seller
  • Passphrase fields now integrate with password managers such as 1Password and LastPass
  • Image Preview: See if you have the right URLs for your images before listing your item!
  • More built-in help
  • Tightened security
  • Improved Chinese localization
  • New localizations: German, Spanish, Lithuanian, French, Japanese, Greek, Hebrew, Italian
  • Various bug fixes
  • One-click re-listing of expired or canceled items

SuperNET Tech Tree

Work has just started, but here’s a taster of what’s cooking: ThomasVeil’s interactive “tech tree”. This will provide an overview of how SuperNET, its services, coins and dividends to its asset holders works.

InstantDEX

InstantDEX is a core service for SuperNET. It will allow near-realtime exchange of one cryptocurrency to another. This will have huge implications for trading, since delays will be reduced to near zero.

A further tool to help manage the InstantDEX order book in the future will be tradebots. These will be user-programmable and will run on the user’s node, customisable for the individual’s needs. One use case might be the conversion of dividends from one currency into another; a tradebot could be set to carry out the exchange at a target price. All of the functionality will take place in the background, making it extremely convenient for the end user.

Naturally this raises issues of liquidity between different coin pairs; obviously users do not want to have to pay for large spreads. James writes, ‘I plan to create 1% spreads between all the SuperNET core coins in native and telepod form and mgwCOIN form, so you can go from one to the other to the other, and the tradebots can be programmed to suit your goals.’

On the technical side of how this will work, James writes:

I had to figure out how to index into DB with duplicates properly, and also add in special cases to the DHT to support InstantDEX orderbooks.

The method is as follows:

A. an orderbook bid or ask is submitted using the standard DHT store and this is processed normally.

B. as this is processed, various nodes do a localstore into the public.db on their HDD. When this is done, the raw data is checked to see if it is an InstantDEX quote and if it is, an automatic update is triggered.

This update allows one bid and one ask per account, which has the effect of preventing the orderbook stuffing.

At this point, the node that is closest to the key value of (baseid ^ relid) will have an up to date orderbook and the normal orderbook function should display it properly.

Of course, this does no good for most all people, so we also need to support returning the full orderbook via DHT findvalue call. The problem is that there is no automatic way to know if a key value is for an InstantDEX orderbook. So, using a similar method to overloading the findnode command with a datastr, I added a datastr to find value.

This would just be the “orderbook” API command, which needed to have an “oldest” field added. what that allows is for the nodes that have data to send back to filter it so only the new data is sent.

When this is all debugged, all nodes will be able to get an up to date orderbook as quickly as a DHT command can be processed. Now, even if this is taking 10+ seconds, odds are that the same accounts are having the best offers and really that is the most important as the exact trade matching is done peer to peer.

InstantDEX is an absolutely critical part of making crypto frictionless for the end user, so it is extremely encouraging to see the progress being made here.

SNN

The SuperNET News Network is coming together, with the backend currently in active development. When it is finished, it will allow for multi-tiered management – one senior writer will be able to manage multiple junior writers. This means that one Editor in Chief can manage a whole staff in a streamlined, automated way.

In the meantime, writes fumanchu88, ‘SNN will be more akin to a standard news platform but with a backend that makes management and payroll open and transparent.’ Features will include:

  • Automated payroll based on social weight of each article
  • Tiered management (posts are sent to an editor for clearance once when ready to publish)
  • Automated Advertising Intake (advertisers can sign up without previous contact)

Payment is always tied to the site’s earnings in the relevant pay period, so there are strong incentives for everyone to promote the site and work together. Contributors will not have to pay to post content; they will simply post their articles, promote them as best they can and interact with comments, where appropriate. The system will do all the weighing, with payout once a week. Regular writers will therefore receive regular pay in NXT and/or BTC.

More about BTCD

Last week we took a closer look at NXT, one of the core coins for the SuperNET. NXT offers versatile 2.0 functionality, and many of the SuperNET’s features are built on top of NXT. But the SuperNET equally could not exist without BTCD.

BTCD provides the secure network that will enable private communication, anonymous transactions and much else besides. BTCD’s infrastructure is a peer-to-peer network similar in principle to file-sharing networks such as BitTorrent (in fact, secure file-sharing will be one of the future revenue-generating applications of the BTCD network, since it enables users to rent out spare hard drive space for others to use).

BTCD’s Telepathy protocol (you can read more about how Telepathy works here) offers privacy advantages over and above anything else currently on the market. All communications are end-to-end encrypted, so that no one else can read them. However, the real step-change in privacy is the use of deaddrop addresses for secure communication. In other peer-to-peer networks, nodes send packets to each other, which requires them to know the IP address of the recipient. This constitutes a leak of information, and a well-resourced attacker would be able to tell who was communicating with whom – which could be as important as what they were communicating. Deaddrop addresses are owned by no node, and so the packet is never ‘delivered’ to this recipient. As it is being routed, though, it is handled by many different nodes – but it can only be read by the node for which it has been encrypted. This is a little like being able to send an email without anyone (including the sender) knowing the address of the recipient.

BTCD wallet

A new BTCD wallet based on the NXT-Inside concept is currently in the works. As well as being user-friendly, this approach will allow stakers to be paid dividends from SuperNET (James offered stakers dividend payments from InstantDEX before developing SuperNET). To preserve privacy and ensure payments cannot be linked to other accounts, dividends will be converted to BTCD before distribution – placing a gentle, constant upward pressure on prices.

Where’s Wally?

During the recent sell-off of the alts, questions were raised about why BTCD prices were dropping so much despite the tech being developed. This was partly due to one of the original large holders from the mining stage cashing out their stake. Since then, a bot has been detected, manipulating the BTCD market. This bot is active on many different alts, but since BTCD is comparatively thinly-traded, it has had a greater effect. James writes:

There is a bot that is ACTIVELY manipulating the price, quite effectively too. If you look at the price on bitcoinwisdom, you will see that there is a pretty even spread of asks all bunched together, within 10 satoshis!

About 5 BTC. This makes a barrier and also crowds out the orderbook so you can’t see what is really going on. It is also changing things several times per second to create the impression of a lot of activity. What it does is pushes the price down by clearing out small bids and making lower and lower asks.

Earlier there was about 10 BTC in 30+ orders around .0049 and 3 BTC between that and .008

So, there is no investor panic going on. It is just one guy running a bot. And he is doing this on many different coins.

His game is this.

Have the bot on bittrex and cryptsy, but run just one of them at a time. Create some FUD, push the price down on one (easier to create fear, especially in a bear market), then as people get convinced everybody is selling, they start selling. Remember this is just happening on one market. So soon the sell price on one exchange is lower than the buy price on the other exchange where the bot is idle. Guaranteed profits! Then the bots switch.

So first one exchange price is pushed down, arbitraged, then the other. Doing this it creates these mysterious price declines as we are making such good progress. All the way down to .005! But there was really very little for sale below .008 as this operation is being done on dozens of coins, so only so much budget per coin.

Now this bot is not caring about price at all. Whatever the price is, it just picks the exchange with the lower price, pushes it down until it can arbitrage. The arbitraging evens the price out and then the pushing starts again. Now this bot stays away from even a 1 BTC wall from what I have seen and certainly anything larger it stays about 10% away from. However if there is no big wall, it happily starts pushing the price down, even filling some orders if they are small enough.

These bots are probably on autopilot, so that means a clever person will be able to trick the bot.

Stash: mass-market BTCD application

Cryptocurrency offers significant advantages over fiat money, but adoption has been slow in comparison to expectations. Part of the reason for this is that cryptocurrency is still too complicated for general use (something that the SuperNET GUI aims to address). However, many people are not really dissatisfied with the service provided by banks and payment processors; crypto is consequently seen as an ‘answer without a problem’.

BTCD’s secure communication capabilities offer the chance to market it in a different way. Most marketing initiatives start in crypto and reach out to mainstream users, with a limited degree of success. The Telepathy network has direct and immediate application to the mainstream. Every week there are more stories of hacked databases, large-scale harvesting of personal data by big corporations, and ever-more intrusive government surveillance. The majority of internet users recognise that their data can no longer be considered their own: everyone has an online footprint, and with the right tools this is almost as transparent as the blockchain.

The Stash concept aims to apply BTCD and SuperNET’s functionality to these problems. A series of related services might be offered to users, including private messaging and secure storage on the SuperNET network. If customers wanted to purchase further services (more storage, for example), they would have to do so using cryptocurrency. The transaction would be made as frictionless as possible using SuperNET’s integrated Coinomat plugin or other services. The Stash wallet would essentially be a highly-simplified BTCD/SuperNET wallet, offering minimal functionality.

The concept is still in its early days but has the potential to draw in a large number of new users from outside of current crypto circles. At the very least, this would strengthen the network and provide many more peers. In the best case scenario, a proportion of these new users would learn about and use cryptocurrency, starting with BTCD and SuperNET.

You can see a holding page at www.Stash.xyz. For more information or to offer help and expertise, please ask on the Slack channels.

Development Update

Things are coming together fast with the v0 release, and more on the way soon. James writes:

‘I have most all of the API needed for v1 released coded and now entering the painful systems debugging stage. The nature of the work changes now to making bugfixes instead of writing new code and just getting everything to work at the same time, along with performance improvements.

‘Still need more testers, but I am acting as the first tester since I rely on the API calls to get the basic functions working. Not sure which will finish first, my debugging or the GUI and websites, but probably pretty close race.

‘The telepathy is not 100% reliable, but it is working most of the time when you are nice to it. Got things a lot more stable at the low level and that allowed a couple of BTC teleports, but this exposed some state machine bugs. Not surprising as it is quite tricky and first time the entire process is being tested all at the same time.

‘Need to think about how best to integrate the InstantDEX with Teleport. I keep alternating days, working on one, then the other, pushing them closer and closer. One of these days I will be able to get them both playing nice with each other.

‘Pushed new version that supports gathering prices into databases and also retrieving this data. bter, poloniex, bittrex, NXT AE and even mintpal [mintpal has been removed until further notice because of this unfortunate situation] is supported.’

The code to test this is:

curl -k –data-binary ‘{“jsonrpc”: “1.0”, “id”:”curltest”, “method”: “SuperNET”, “params”: [“{\”requestType\”:\”getquotes\”,\”exchange\”:\”bter\”,\”base\”:\”NXT\”,\”rel\”:\”BTC\”}”]  }’ -H ‘content-type: text/plain;’ https://127.0.0.1:7777/

curl -k –data-binary ‘{“jsonrpc”: “1.0”, “id”:”curltest”, “method”: “SuperNET”, “params”: [“{\”requestType\”:\”pricedb\”,\”exchange\”:\”nxtae\”,\”base\”:\”BTC\”,\”rel\”:\”NXT\”}”]  }’ -H ‘content-type: text/plain;’ https://127.0.0.1:7777/

‘Now each user can gather data for the crypto they are interested in and this creates the reference prices to overlay on the InstantDEX orderbook. took a bit longer than I had hoped to get it stabilized as I had to serialize all accesses and avoid deadlocks. Systems stuff is quite tricky and feels like not much progress, but now at 2% CPU usage, it is able to handle all the packets and gather price data.’

Code review

Bitcoin privacy and security expert Kristov Atlas currently undertaking a code review of SuperNET. As James comments, ‘With nearly 40,000 lines, there will be bugs and parts of it I don’t like at all…’

Meanwhile Zahlen has started to analyse the maths and will add material further to the white paper in due course.

SuperNET related links

Supernet Forum
https://forum.thesupernet.org

SuperNET news

Newsletter signup
http://supernetwrk.weebly.com/newsletter.html

https://twitter.com/Jl777News
http://jl777news.tumblr.com/
https://www.facebook.com/jl777official

SuperNET Newsletters archive
http://test.nxter.org/category/supernet-newsletters/

SuperNET CORE coins

NXT
http://nxt.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

SuperNET related projects

BITS (SuperNET CORE component!)
https://bitcointalk.org/index.php?topic=748045

Coinomat
https://coinomat.com

SNN
https://forum.thesupernet.org/index.php?topic=118.0

Neodice
https://nxtforum.org/nxtventures/(pre-ann)-neodice/

Freemarket
https://nxtforum.org/nxtventures/freemarket-official-thread/

ATOMIC
https://bitcointalk.org/index.php?topic=780833.0

ShortUNITY
https://nxtforum.org/assets-board/shortunity/

Prediction Markets

https://www.fairlay.com/predict/registered/new/supernet-in-top-10-of-coinmarketcap/
https://www.fairlay.com/predict/registered/new/supernet-in-top-5-of-coinmarketcap-before-2016/

Affiliated websites (revenue sharing or partial ownership)

http://bter.com
http://coinomat.com
http://nxtfreemarket.com
http://yourwebsitecanbehere.com

Author of SuperNET newsletters: NXTER MAGAZINE: http://test.nxter.org

SuperNET Newsletter #5

Welcome to another edition of the SuperNET newsletter!

TOPICS

  • Website
  • Beyond Bitcoin
  • SuperNET Cards
  • Chancecoin
  • VRC
  • Marketing
  • SuperNET Radio Network
  • UNITY price
  • BlockNET
  • Development update
  • Kademlia DHT’s role
  • SuperNET related links

Website

Lootz is currently building supernet.org.

Email addresses info@supernet.org and coins@supernet.org are working now. We are moving from thesupernet.org to supernet.org step by step…

Beyond Bitcoin

BTCD and SuperNET will feature on the Beyond Bitcoin podcast this Tuesday/Wednesday!

[UPDATE]:

https://soundcloud.com/legendface66/beyond-bitcoin-19-supernet

SuperNET cards

The SuperNET cards (Nxt asset ID: 7110939398145553585) have been ordered!

SuperNET cards will be a way to bridge crypto into fiat. These cards are normal MasterCards and will have a $1,000 per day limit. At the moment these are ‘half anon’ cards: A photo ID card is required for but no banking information.

James comments,

half anon means that there is no requirement to link a bank acct/personal financial number to the card. however to get the bigger limits, the requirement for ID scan and utility bill could not be removed.

I expect a secondary market to form for these halfanon cards once issued. They have no risk to the one that signed up for it as it can be kept empty.

We continue to work toward full anon, but need to find a reliable vendor with acceptable limits and while we have candidates, the process is very slow. also, I think there is a good chance that there will be some independent vendors who can help, but this is all still being developed.

We will keep you informed and let you know when these ‘half anon’ cards are ready to ship.

Chancecoin

James’ funding request has been APPROVED.

We hereby welcome CHA as the newest SuperNET CORE coin.

Its features are described in greater detail in the last SuperNET Newsletter and on https://bitcointalk.org/index.php?topic=528023.0. CHA official website: http://chancecoin.com

### whale has negotiated 25000 CHA for 11.25 BTC, there are only 516,530 CHA total from its burn period.

chancecoin is a microcap, but with interesting tech and we plan to integrate CHA betting into the SuperNET GUI
###

VRC

VRC will be implementing the GUI and billing for the decentralised cloud storage enabled by the Telepathy network. The VRC devs will also be providing the ‘public face’ of SuperNET (since James has known to be a little cautious about that sort of thing). VRC’s Patrick, Doug and David are well known as some of the first crypto devs to reveal their identities publicly. In the future there will likely be many interviews, live events and other media where SuperNET will need a real-life representative.

James has also committed to developing new technological features with VRC in a previous deal, arranged before SuperNET was announced. These will offer new functionality to SuperNET when they are implemented, so inclusion at this point makes sense in any case. Read more here.

Marketing

BTCD is engaging a professional marketing company to help communicate the coin’s unique features and use-cases. SuperNET will inevitably benefit from this since it is one of the major ways in which users will be able to access different services with BTCD.

BTCD will have widespread appeal as a complete platform for secure, anonymous communication and transactions. Just some of the groups that we anticipate will be interested, plus potential applications, include:

  • Bloggers and journalists in ‘closed’ countries
  • Political activists in hostile regimes
  • Whistleblowers
  • Truly anonymous reviews and tip-offs
  • Anonymous donations to Wikileaks and mainstream charities
  • Secure business-to-business communications to prevent industrial espionage
  • Online gambling
  • Libertarians
  • Anyone concerned about intrusive state and corporate surveillance

SuperNET Radio Network (SNRN)

http://supernetradio.com has launched.

This is an initiative by kevondo and lootz. Kevondo writes:

### SNRN will provide each SuperNET coin and entity (Affiliates) with a Website, uniquely “Branded” to them individually. All sites will have radio broadcasting enabled, access to “On Demand” archived SNRN programming, an “Anon Unity Chat” IRC window, and Crowd Funding capability. By reducing the budgetary pressures of building and maintaining an array of promotional tools members can concentrate on creating content and actively promoting. SNRN basically provides all the tools needed to “Get the Word Out” by jump starting the promotion process.  Any other services such as Forums can be implemented upon request.

Affilate productions will be scheduled into the 24/7 stream of  “Flagship” Station supernetradio.com producing, for SuperNet/UNITY, the consistency of around the clock exposue while alleviating affilates from having to produce the volume of content to be effective in promotional ventures.

Particulars, Fee Schedules, Revenue Streams and Dividend Sharing details will be provided on http://supernetradio.net. Direct inquires can be sent to supernetradionetwork@gmail.com.
###

For the time being, Kevondo will be doing a live broadcast at 10 AM EST Monday to Friday, and past shows, interviews, and music will be streaming 24/7.

UNITY price

The recent bear market in Bitcoin has badly affected the alts, and there have been heavy sell-offs – including NXT and BTCD, as well as many NXT assets. This has opened the door to criticism about the tech, even though the same trend has affected almost all coins. James writes:

As the software gets more and more complete and it becomes clear to even the skeptics that it is just a matter of time before SuperNET is completed and working, the price will more fully reflect the value. Since I am doing something that hasn’t been done before, it is hard to accurately estimate time to completion, especially as I continue to improve things daily.

Remember that anybody can make any sort of crazy claim against me. I don’t have time to spend refuting all the silly FUD. For a while I was supposed to be some sort of pump and dumper, but it is hard to make any claim like that stick when I am not pumping nor am I dumping. I just keep coding and know that it is just a matter of time before the market catches up to what I am building. And now other coders are building on top of what I am building. GUI are being created. Websites and even new assets are being created and managed, etc.

For all the claims that I am dumping SuperNET, I can state affirmatively that I am only buying and have not sold any SuperNET/TOKEN. This reminds me of when I was buying BTCD at .00015 to .001, seems almost like I have an unfair advantage as I know the dev will deliver, while everybody else has some doubts… Considering the bear market everything has been in, including BTC, UNITY price is holding up pretty well.

BlockNET

Many of you will have noticed certain similarities between SuperNET and a new organisation called BlockNET. Whilst the latter is a constantly-evolving undertaking, it seems that there are several key differences. We would encourage you to visit the thread, ask questions and find out more for yourself about the relative approaches, if you are considering investing in one or both ventures. There has been much misunderstanding about both BlockNET and SuperNET and greater clarity will benefit everyone.

A key difference is the business approach. BlockNET is collecting money through their ITO to pay developers for their new software, whereas the SuperNET ICO funds are being held to provide stable value, reflected in the NAV (the value of SuperNET should not fall below the value of the currencies held). James is doing all the coding in return for an equity stake in SuperNET, and is also adding a large number of revenue-generating assets of his own (these total far more than the value of his own shares).

SuperNET ICO funds will also be used to purchase shares in coins and revenue-generating services. SuperNET is also entering into revenue-share agreements, without taking an equity stake in these. BlockNET will make money from the services it offers but the ITO money will not be used to purchase a stake in promising companies. SuperNET will also be returning income to coin communities, to stakers and for further tech development.

The philosophy of SuperNET is to align interests between SuperNET holders, coin communities and devs, and the companies that provide services. The money flow provides shared incentives for success, strengthening all of them and working for their mutual benefit. This business model was a conscious decision taken by James and offers a strong platform for future expansion.

Development update

James:

around 1000 new builds in last month. very busy coding

Development of the peer-to-peer network that will underpin BTCD and SuperNET has moved fast, with some fantastic advances. James writes, ‘I just finished rewriting Teleport using Telepathy and DB and now it’s 800 lines instead of 3,000. Once this is debugged, then all the other apps will come pretty fast as its just application level code without worries about system level, anon leaks, etc… getting close to code complete.’

As a brief overview/reminder:

  • Telepathy is a system of secure peer-to-peer communication
  • It is based on the Kademlia DHT, the same protocol used by BitTorrent
  • Teleport will also use this for anon crypto transactions
  • Telepathy is so secure that no one, including the sender, needs to know the recipient’s IP address. This offers a fundamental advance in privacy.
  • Telepathy uses ‘dead drop’ addresses that belong to no one. Messages are routed to these, and are handled by dozens of different nodes – but delivered to none of them.

There has been some misinformation spread about Teleport recently. To clarify, Teleport offers a completely trustless and decentralised off-blockchain exchange mechanism that is truly anonymous and private.

A white paper for Telepathy is available in draft form and will be published for review in due course.

Kademlia DHT’s role

DHT is the technology that enables Telepathy.

A Distributed Hash Table (DHT) is a kind of super-efficient look-up table that allows any node in the network to find the information it needs to route a packet to another node quickly.

The Kademlia DHT offers a couple of very interesting properties. Aside from being very efficient, it guarantees a packet will reach its destination due to the way it routes them (the ‘XOR’ metric).

Additionally, like other DHTs, the ‘map’ that shows where each node lies in network space is completely abstracted from the physical location of those nodes and their IP addresses. This is a little like the London Underground tube map: The map of stations bears little resemblance to the above-ground geography. It is simply a convenience to allow passengers to work out which line to use quickly and easily. So each node in the P2P network simply forwards a packet to nodes closer to the destination than itself – until the distance is zero, which means the packet has arrived.

In the case of Telepathy, since nodes are trying to deliver a packet to a dead drop address owned by no one, this will never happen. This does not matter though, since so long as the intended recipient gets to handle the packet, they will be able to decrypt and read the contents.

Close to the dead drop address, many other nodes are also being sent the packet – creating great uncertainty about which node it was meant for. An attacker cannot find out the IP address of the intended recipient, let alone read the content of the packet.

Unlike some detractors have claimed, this network is completely decentralised and peer-to-peer – like BitTorrent. IP addresses for nodes are known to others, of course (otherwise any routing would be impossible), but there is no correlation between a destination address and a node’s IP address. Users have a public account and a private one for secure communication – these private accounts are completely unlinked to your IP address.

A new feature will be group ‘mining’ of dead drop addresses which are close to many nodes, to create maximum uncertainty in the eyes of the attacker about who the packet was meant for.

Since these addresses are best found by brute-force calculation, the process is actually very like Proof-of-Work mining. Once a good location has been found, it can be shared amongst many nodes that are close to each other. Rewards may be paid for this useful mining activity. Of course, no node using these shared addresses will be able to read the contents of a packet unless it has been encrypted specifically for them.

SuperNET related links

Supernet Forum
https://forum.thesupernet.org

SuperNET news

Newsletter signup
http://supernetwrk.weebly.com/newsletter.html

https://twitter.com/Jl777News
http://jl777news.tumblr.com/
https://www.facebook.com/jl777official

SuperNET Newsletters archive
http://test.nxter.org/category/supernet-newsletters/

SuperNET CORE coins

NXT
https://nxtforum.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

SuperNET related projects

Coinomat
https://coinomat.com

BITS
https://bitcointalk.org/index.php?topic=748045

SNN
https://forum.thesupernet.org/index.php?topic=118.0

Neodice
https://nxtforum.org/nxtventures/(pre-ann)-neodice/

Freemarket
https://nxtforum.org/nxtventures/freemarket-official-thread/

ATOMIC
https://bitcointalk.org/index.php?topic=780833.0

ShortUNITY
https://nxtforum.org/assets-board/shortunity/

Prediction Markets

https://www.fairlay.com/predict/registered/new/supernet-in-top-10-of-coinmarketcap/
https://www.fairlay.com/predict/registered/new/supernet-in-top-5-of-coinmarketcap-before-2016/

Affiliated websites (revenue sharing or partial ownership)

http://bter.com
http://coinomat.com
http://nxtfreemarket.com
http://yourwebsitecanbehere.com

Author of SuperNET newsletters: NXTER MAGAZINE: http://test.nxter.org

SuperNET Newsletter #4

Welcome to the SuperNET newsletter!

The past week has seen some exciting developments on the tech front, including Telepathy: James’ system for communicating so securely that even the sender doesn’t need to know who the recipient is! Since it has been a relatively quiet week in terms of new companies joining SuperNET, we want to take the opportunity to explain a bit more about the components and initiatives that make up SuperNET, knowing that many investors are still uncertain about various aspects of these. But first… a few announcements.

Topics

  • Chancecoin
  • SuperTraders
  • VRC funding request approved
  • NxtInside
  • SuperNET Client GUI
  • BTCD and SuperNET
  • BITS ATM
  • Code review and Telepathy
  • API calls and testing
  • SuperNET related links

Chancecoin

Chancecoin betting is planned to be integrated into the SuperNET GUI.

[Funds Request]

James:

whale has negotiated 25,000 CHA for 11.25 BTC, there are only 516,530 CHA total from its burn period.
chancecoin is a microcap, but with interesting tech and we plan to integrate CHA betting into the SuperNET GUI

Chancecoin is built around feedless, trustless betting, using New York Lottery Quick Draw numbers to resolve bets. Quick Draw numbers are drawn every four minutes, every day of the week. The drawing selects 20 numbers randomly from a pool of numbers 1 through 80, without replacement. A bet seen in the blockchain is resolved based on the first set of Lottery Quick Draw numbers that are published strictly after the block is mined, so it is not possible to game the system by waiting for favorable lottery numbers. Chancecoin is a coin and a casino. The casino features classic dice betting and poker.

Adding CHA to uMGW (Multigateway) is being looked into.

SuperTraders

[SuperTrader funds transfer notice]

Half of the SuperTrader funds will be transferred from BTer to Bittrex. Prices have recently dropped significantly across most of the altcoin market and this is impacting the stability of the core coins for SuperNET.

James:

The plan is to stabilize the prices with market actions and to provide inventory during supply demand imbalances. Over time, the gap between the buying and selling will also provide some gains.
(…)

In a bear market where drops of 30%+ for a lot of other crypto (including BTC itself for a time!) SuperNET is trading within 5% of the ICO price. Granted it is down from the post ICO peak but no more than all the other cryptos

I work to increase the value.
I rely on the market to eventually reflect the value
So there is no active pump campaign as that is counter to my philosophy.

When the market realizes SuperNET tech is going to work and revenues will start flowing, then the price will catch up to the value.

VRC funding request approved

The funding request announced in the last newsletter is approved.

VRC has committed to making a cloud storage GUI for SuperNET that allows users, companies and other coins to rent out HDD space to the cloud. James wants to provide a 50/25/25 revenue share from the cloud storage split between the user/VRC/SuperNET, so SuperNET users can monetise their unused HDD, VRC will create a revenue stream for their holders and SuperNET will gain a new revenue stream and increase its overall userbase.

5389.16 SuperNET assets from working capital has been swapped for 538,916 VRC, and 100 BTC is released for open market purchases to get close to the target level of 10% stake in VRC.

NxtInside

NxtInside

‘NxtInside’ is a Nxt initiative that aims to make the platform’s 2.0 capabilities available to other cryptocurrencies. The name was originally suggested by jl777 to reflect the development and integration of Nxt core components into BitcoinDark (BTCD), as a first example, and hopefully other coins as time goes on. SuperNET – which uses many of Nxt’s key functions, such as the Asset Exchange and services built on top of Nxt, will be the prime case for NxtInside. The approach is similar to the ‘Intel Inside’ campaign, in which other companies (including Apple) use Intel chips to power their devices, thereby extending Intel’s brand reach far beyond their own hardware.

Casual end users will get lots of 2.0 crypto features but might not even notice that it is powered by NXT. Their public coin address will be linked to a NXT address “under the hood”, so they can login just by using a link in their coin’s client. This is fully in the spirit of what Nxt is designed to be.

VanBreuk writes, ‘SuperNET is most likely the biggest initiative and the best example of development using Nxt we have currently. Other services, websites and applications like SecureAE, Nxtty or Lith, to name a few, are also examples for NxtInside branding.’

IMPORTANT NOTICE: There is no NxtInside asset offered on the Asset Exchange. Any assets named ‘NxtInside’ or similar that claim to fund or benefit from this initiative are false.

SuperNET Client GUI

BTCD and SuperNET are both members of the NxtInside programme (read more on how BTCD and SuperNET are linked below). longzai1988 is currently working on the SuperNET GUI, which will be based on the NXT GUI. QT clients will have an ‘Enter SuperNET’ button, which will open SuperNET in a browser and auto-login for the user. The GUI can be customized for each coin.

longzai is currently working on integrating Coinomat features into the SuperNET client. These 4 currencies are working correctly by the time of writing: NXT, BTC, LTC, PPC. Here is a sample screenshot:

longzai_SN_GUI

BTCD and SuperNET

Questions have been raised about the exact link between BTCD and SuperNET. The confusion is understandable given the large overlap of technology and key people working on each. SuperNET could not work without the infrastructure offered by BTCD, in the same way it could not operate without Nxt’s 2.0 functionality. Analogies are often more powerful than explanations:

Imagine a new country, spread out in front of you. Scattered around the landscape is everything you might want or need. Stores, selling anything you could ever hope to buy. Exchanges, financial services and trading posts. Casinos and other entertainment centres. News and information outlets. These are like the services offered by SuperNET. Incredibly, although the cryptocurrency world offers so many remarkable businesses, no one has thought to link them before. They are just a set of isolated organisations, operating in their own niches, or competing with each other.

BTCD is like the highway that connects everything. The infrastructure it provides will enable communication between you and all of the different services, through what it shaping up to be one of the most secure comms links ever developed. It’s like a network of roads, tunnels and bridges that enables you to go anywhere and do anything – and do so in complete privacy.

To complete the analogy, Nxt is the sophisticated engine that gets you around this network of roads and to the services you can find there. It’s a 2.0 car that’s designed to do far more than drive from A to B. NXT doesn’t just allow you to transact; it houses the Asset Exchange and many of the other services that will allow you to interact meaningfully with others on your way around in SuperNET – the whole Super Network of integrated coins and innovative services.

So how might it look in practice?

In the following example (thanks to Este Nuno and mackowski for this concept: https://forum.thesupernet.org/index.php?topic=40.msg133#msg133) you’ll need the BTCD wallet that longzai is working on to access SuperNET. The good news is: That’s it. Everything is held inside it. That’s the whole point of SuperNET – UNITY.

You’ll click a tab in the BTCD client – it will open SuperNET. From there, you can send cash anonymously using Teleport (James’ BTCD anonymity protocol), or if you’re particularly concerned about privacy, you can pass it through a Boolberry exchange first, layering Teleport with BBR’s ring signature technology. Perhaps you’ll play neoDice for a while – it’s built into the client. You might check your portfolio of assets, which include SuperNET itself and see that you’ve been paid dividends, which include both NXT and some shares in a new company that has recently joined SuperNET.

Maybe you want to exchange some NXT for BTC? You can do that instantly through the peer-to-peer exchange, InstantDEX. Or maybe you need some fiat to spend, so you cash some coins out to your SuperNET card – the anon card offered by Coinomat – in case you don’t have access to a BITS ATM, where you can just withdraw your coins as physical cash.

You browse FreeMarket for a while to see whether anything interesting is for sale. Lastly, you send an encrypted message to a friend about a joint project you’re working on. All of this happens completely securely, because privacy is built into every transaction that takes place with BTCD. Or any other coin in SuperNET.

BITS ATM

More information about the partnership with Bitstar coin (BITS) has been requested. Although BITS are not a core SuperNET coin in the way that Nxt, BTCD and BBR are, they are a critical supporting member. The idea is to add SuperNET to the BITS wallet, and to the ATM they are sponsoring.

This would allow users to access SuperNET coins from BITS ATM – effectively ‘teleporting’ cryptocurrency into fiat. Ether, who also created the SuperNET logo, is designing the main splash screens and brand identity for the ATMs. The SuperNET logo will be displayed in the ATM’s user interface. Ether’s growing number of SuperNET designs can be found and downloaded here: https://forum.thesupernet.org/index.php?topic=208.msg1415#msg1415. He is offering his time and expertise for free, so please do tip him if you like his work!

Code review and Telepathy

James was going to submit core code to Kristov Atlas for a review (Atlas is a computer science security consultant who has worked on a number of cryptocurrency projects). However, this is delayed due to the new innovation (‘Telepathy’) that James is adding to SuperNET. ‘I just made a big breakthrough in anon level. No sense in having something reviewed that has already been improved!

James continues:

The problem I solved is the one of how to communicate to someone without ANYBODY knowing what their IP address is. I believe I have a deterministic and provable routing that isn’t broadcasting that achieves this. It was one of those nice to solve if I can figure it out, but not absolutely needed things, as there is already a lot of anon in the fixed sized, onion encrypted variable delay packets, but now being able to transact with someone just via a 64bit address that has nothing to do with the ipaddress. This I believe is quite a leap in anon level.

Privacy is fundamental to BTCD and SuperNET. The whole ecosystem is built on a platform that allows the highest level of privacy – far, far beyond anything any other coin offers, and possibly any other system in the world.

Telepathy is a very recent development James made when he was looking into ways of routing messages through a network. In a peer-to-peer network, such as SuperNET or BitTorrent, there is no central authority – this would make it vulnerable to attack (for example, Napster’s centralised look-up was its downfall). Obviously, such a vulnerability would be unacceptable for SuperNET. More recent networks use DHT, distributed hash tables, to achieve true decentralisation, along with scalability and resilience (tolerance to nodes joining and leaving the network).

The properties of the particular DHT James was looking into, called Kademlia, offer a very interesting benefit: it is possible to send a message to an address that belongs to no one, but because of the way the network is structured, you can still guarantee it will reach the intended recipient. The amazing thing is that even the sender does not need to know the recipient’s IP address for this to be possible. And clearly, this poses serious problems for any attacker!

These ideas are being written up into a white paper which will be submitted for peer review. For now, an analogy is again one of the most effective ways to communicate the basic concept:

Alice wants to send a message to Bob but does not want anyone else to know that he is the intended recipient. Instead of sending it to his house, she writes it on the side of a van and instructs the driver to drive to a random address that is in line-of-sight of Bob’s house – and 20 other houses. It doesn’t matter whether anyone owns the property at the destination, or even whether there is a property there. All that matters is that Alice knows Bob will see the van as it passes.

In reality, the process is far more robust than this. The packets will be encrypted so that only the intended recipient will be able to read them. The ‘addresses’ used to deliver a packet cannot be linked to any IP address; the packet is introduced at a random location rather than from Alice’s ‘house’. The important point is that, even in the highly unlikely event of an attacker having enough information to determine the destination of a packet, it will be impossible to correlate it to the user’s IP address – because the apparent destination has no IP address! The real recipient is one of twenty or so others who pass the packet along the chain.

Cryptocurrency is still a small slice of the economy and has gained limited real-world traction so far, but perhaps we should not be surprised at the innovation that is happening here: the crypto world contains a relative handful of people, but they are self-selected coding, security and economic specialists. Where these disciplines overlap, great things happen.

API calls and testing

SuperNET’s functionality will be available via a series of API calls: https://forum.thesupernet.org/index.php?topic=196.msg1349#msg1349. Ultimately these will be accessed through the GUI. For now, we need more people to test them using the SuperNET-enabled BitcoinDark client. This can be installed on a home computer or VPS. The more network nodes the better: Reliable testing requires at least 50 and ideally 100. The nodes needed to bootstrap the network will be funded by the staking income from the BTCD paid during the ICO.

If you are able to, please install the client, start testing the API and add your thoughts and comments to the documentation: https://forum.thesupernet.org/index.php?topic=154.msg1387#msg1387. Remember: James has offered a 1,000 BTCD bounty if you can find a way to deanonymise telepods. Good luck!

There will no doubt be more questions about the components of SuperNET and the roles they play. Please do ask them and we will do our best to answer. We would also encourage you to join the SuperNET forum for more information and updates.

SuperNET related links

Supernet Forum
https://forum.thesupernet.org

SuperNET news

Newsletter signup:
http://supernetwrk.weebly.com/newsletter.html

https://twitter.com/Jl777News
http://jl777news.tumblr.com/
https://www.facebook.com/jl777official

SuperNET CORE coins

NXT
https://nxtforum.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

SuperNET related projects

Coinomat
https://coinomat.com

VRC
https://vericoinforums.com

BITS
https://bitcointalk.org/index.php?topic=748045

CHA
http://chancecoin.com

SNN
https://forum.thesupernet.org/index.php?topic=118.0

Neodice
https://nxtforum.org/nxtventures/(pre-ann)-neodice/

Freemarket
https://nxtforum.org/nxtventures/freemarket-official-thread/

ATOMIC
https://bitcointalk.org/index.php?topic=780833.0

ShortUNITY
https://nxtforum.org/assets-board/shortunity/

Prediction Markets

https://www.fairlay.com/predict/registered/new/supernet-in-top-10-of-coinmarketcap/
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Affiliated websites (revenue sharing or partial ownership)

http://bter.com
http://coinomat.com
http://nxtfreemarket.com
http://yourwebsitecanbehere.com

Author of SuperNET newsletters: http://test.nxter.org

A closer look at Teleport

Teleport isn’t just the new anonymity technology that powers BitcoinDark. It’s jl777’s complete privacy ecosystem that also forms the backbone of SuperNET (asset ID 12071612744977229797 on Nxt Asset Exchange). So how does it all work?

So-called anonymous coins come in many different forms, but they tend to rely on a limited range of different approaches towards achieving anonymity. One of the most common approaches is mixing, which essentially means combining a lot of different transactions so that it’s hard to know which output originates from which address. For example, Darkcoin uses an implementation of CoinJoin, a mixing protocol.

Another approach is to use ring signatures, like Boolberry or Monero. Whereas most transactions are signed by one key, with a ring signature a number of different keys can sign the same transaction, so it becomes far harder to know who sent the transaction in question. Ring signatures arguably offer a greater degree of privacy but they come at the cost of considerable blockchain bloat – though Boolberry’s developer has found a neat way to sidestep this issue.

Mixing offers what might be called ‘personal level’ privacy – good enough for many day-to-day circumstances. Ring signatures are a step up from that and can be very effective (hence BBR’s inclusion in the core of SuperNET). But even there, some correlations might be made by a determined attacker.

Teleport: a new approach

Teleport uses a completely different approach to anonymity. Like many of the best ideas, Teleport is elegant in its simplicity – it’s just that there are complex concepts to negotiate along the way. Instead of looking for a way to obscure the source of a transaction, Teleport considers the methods by which an attacker might find out who is sending a transaction and aims to avoid them altogether. To explain further:

Transaction linkage. With Bitcoin, every address can be linked to the one used before it, right back to the block from which it was mined. If you know the identity of the owner of one address or take an interest in the activity which a certain address displays, you can follow the transactions to and from it – and very likely eventually link that person with another known address. Teleport avoids this by using one-time addresses called telepods. If no address is used more than once, it’s impossible to link it to any other part of the network. In the original Bitcoin white paper, Satoshi Nakamoto recommends using new addresses for every transaction. Suffice to say that few people do so because it’s too much trouble. Teleport builds this into the system.

Timing attack. Perhaps you know that a given transaction was supposed to happen at a certain time. Because everything is on the blockchain, any transaction within the relevant time frame falls under suspicion. This can be used in conjunction with other methods to narrow down the list of transactions to analyse. Teleport introduces random delays and allows recipients to decide when to move the money they have been sent in a telepod, so a change might only show up on the blockchain much later.

Mantissa attack. If you send a distinctive amount of money – whether that’s a very large sum, or one with a characteristic mantissa (the numbers after the decimal point), then it’s extremely easy to spot on the blockchain and follow. A mantissa attack – a term coined in the Teleport DarkPaper – is particularly effective if you know someone is transferring a dollar equivalent of money, perhaps because they have posted the information in a forum or it has otherwise been intercepted. Knowing the exchange rate and the rough timing of the transfer allows a high degree of correlation with blockchain transactions that fit the right criteria. Teleport uses standard denomination telepods – units of 100, 50, 10, 5, 1 and so on – so that unusual amounts won’t raise any flags.

Whilst taking care of the above vulnerabilities should be sufficient for everyday privacy requirements, you do of course also need to guard against voluntarily disclosing personal information; a huge amount of data relevant to cryptocurrency addresses and transactions can be and is harvested from forums and other sources in a method known as fingerprinting. As an aside, if you have your crypto address in your signature, you might want to think again – at least, if you take anonymity seriously.

However, even having adopted good personal practice as regards securing your privacy online you could still be vulnerable to  a well-resourced attacker correlating activity from your IP address to movements on the blockchain.

IP address detection. For those wanting a really robust solution suitable for hi-tech business (think industrial espionage) or resistant to intrusive government surveillance (China, US, UK…) it’s necessary to hide the fact that you are the one conducting a transaction at all. This is where the privacyServer comes into play. It’s the piece de resistance of Teleport, and it’s what makes it a platform capable of supporting so much more than just a simple cryptocurrency transaction.

Instead of submitting a transaction directly to the network, the privacyServer encrypts it multiple times and passes it through several other nodes (other privacyServers) first – a technique known as onion routing, used by other applications including the infamous TOR project. Not only that, but every transaction is also split into several pieces and sent to a number of different nodes, only some of which send it on to its final destination (and this is the simplified version!).

The result is that even if an attacker knows that you are part of the network, and even if they compromise one or even many nodes, it becomes incredibly difficult to link the user with the transaction that ultimately follows, given that it’s bouncing around many intermediaries and being pulled to pieces and reconstituted at the end. As a broad analogy, imagine printing a paper wallet for your bitcoins, photocopying it several times, shredding the copies, then sending multiple nested packets of the paper fragments to lots of different people, some of whom forward the contents on to others, some of whom forward those contents to the final recipient, who piece the shreds back together… ‘Impossible’ isn’t a word that should be used in these circumstances, because a determined attacker with unlimited resources can always find ways to cause you trouble, but it’s about the closest thing to complete anonymity available in the foreseeable future.

Pros and cons

The result is an extremely robust system that uses both common sense and cutting-edge technology to prevent an outsider from learning what’s going on inside the BTCD ecosystem. Moreover, by using services such as InstantDEX and TradeBots (instant and automated trading applications), the advantages can be extended to any other supported cryptocurrency: BTCD will turn anything dark.

There aren’t many downsides to Teleport. One is simply that setting up a fully effective privacyServer requires a certain degree of technical competence and possibly a small financial cost for a VPS, though you’ll still enjoy pretty good privacy without that. Another is that transactions are best made when both parties are online; because the recipient is (in a very simplified explanation) being sent a private key and using it to sweep the balance of one address into a new account, a long delay could give rise to double-spending on the part of the sender. This would never result in lost funds though, because the transaction would not be acknowledged as complete by the recipient. It would, at most, be an inconvenience. In other circumstances it could even be considered an advantage because the delay brings added protection against a timing attack, should the attacker even be able to correlate activity from the sender’s IP address with any blockchain activity in the first place.

Brave new world?

With continued revelations bringing to light the unprecedented levels of surveillance from the NSA and other government agencies, as well as the rise of big data and the aggressive, large-scale harvesting of personal information by corporations, it’s fair to say that both sides on this issue will be upping their game. The arms race for privacy is only just getting started. For now, it’s nice to be one step ahead of the competition.

You can find out more about Teleport by reading the DarkPaper or visiting the BTCD thread on bitcointalk.

BTCD to pay bitcoin dividends after link with InstantDEX instant trading service

BitcoinDark, a fast-rising new cryptocurrency with a strong emphasis on anonymity, will soon pay dividends in bitcoin – or potentially one of a number of different cryptocurrencies or crypto-assets.

New cryptocurrency BitcoinDark (BTCD) is set to be the first cryptocurrency to pay regular dividends in a form other than itself, in a game-changing new development that will shift the way investors view different currencies. Core BTCD developer jl777, who is also responsible for the jl777hodl (JLH) asset that began trading on Poloniex earlier this month, has stated his intention of linking BTCD to the revenue generated by the new InstantDEX trading platform, for which he is also responsible.

Synergy
Linking InstantDEX and BitcoinDark creates a strong partnership that will leverage the capability of several different initiatives and their respective communities. BitcoinDark, which promises a new and robust twist on anonymity protocols, will be essentially impossible to trace. InstantDEX, which is now at test-release stage, offers near real-time trading between different cryptocurrencies and crypto-assets, meaning that users do not have to wait for confirmations on the relevant blockchains. InstantDEX will work through the Multigateway, the first decentralised crypto-trading exchange.

‘The BTCD community are hosting the InstantDEX servers,’ comments jl777, ‘so it seems fair to reward them for their help and commitment. At the same time, this brings together three important needs and new developments in cryptocurrency: anonymity, decentralised trading and instant transactions.’

Dividends
InstantDEX charges 0.1 percent per transaction – lower than almost any other traditional exchange. However, the anticipated market share and resulting volumes means that this could create a significant revenue stream, especially since overheads are minimal. ‘Of the 0.1 percent charged for both sides of the transaction, I plan to reserve half to continue to develop InstantDEX. A proportion – I’m suggesting 10 percent of the remainder – will be paid to BTCD holders.’ Payments can be made in any currency or asset, to the associated address in the BTCD wallet’s built-in asset exchange.

Traded crypto-assets and dividend-paying currencies
Paying dividends in another currency is another first for cryptocurrency, but a similar development took place two weeks ago when Poloniex listed jl777hodl (ticker symbol JLH), which represents a basket of high-performance cryptocurrency assets traded on the NXT asset exchange. JLH has been trading at a total market cap of over $1 million, as shown on CoinMarketCap – twice the value it was before being added to Poloniex. Paying dividends to a cryptocurrency is simply the other side of this equation, argues jl777. ‘If JLH can be traded on an exchange, why can’t BTCD receive dividends like an asset?’

The additional financial incentive is likely to fuel a further round of interest in an already keenly-watched cryptocurrency.