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.

[fusion_vimeo id=”110923742″ width=”” height=”” autoplay=”false” api_params=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=””][/fusion_vimeo]

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 #3

Welcome to SuperNET! 

It’s a shorter newsletter this week. After the series of deals that took place last week, most of the activity has gone into creating the infrastructure for SuperNET, with James adding new functionality to Teleport and the SuperNET API every day. So whilst there’s not so much to announce this time, there’s plenty going on under the surface and we are seeing rapid and exciting developments to the ‘highway’ technology that will link and power the network of assets and coins.

Topics

  •  Asset linkages
  • NXTventure in SuperNET
  • ATOMIC
  • [Funding request]
  • ATM support and Bitstarcoin
  • SNN funding and distribution
  • SuperNET Radio
  • SuperNETwork
  • Development update
    • First Telepod
    • Multisig
    • The last mile – deaddrop accs
  • Related links

Asset linkages

There has been some confusion among investors about SuperNET’s asset holdings, their connection to each other, and how this all affects SuperNET and its revenue streams. This is understandable, since many of the assets are interlinked and own differing proportions of each other.

To make things clearer, the SuperTEAM is working on a visual map of the SuperNET, its assets, dividends, revenue and so on. Meanwhile, James’ assets are listed and updated HERE.

James:

My asset linkages are based on something that I saw and thought made some sense, so did an entire country: http://en.wikipedia.org/wiki/Keiretsu

Anyway, there have been many complaints that all my assets makes some confusion, so in a way SuperNET is a solution for this as it is putting in the key jl777 assets all in one place. If you want to invest in me (and all the other cryptos I approve of), just get SuperNET.

NXTventure in SuperNET

InstantDEX has obtained 8 percent more of NXTventure, as James did a marketrate swap between his own holdings of NXTventure and InstantDEX’s own holdings of the InstantDEX asset, making InstantDEX the largest NXTventure assetholder.

James writes (https://forum.thesupernet.org/index.php?topic=182.0)

There was a suggestion that I merge NXTventure into SuperNET, but this is not very feasible. So I did what I could by exchanging NXTventure assets I had for InstantDEX assets. Since SuperNET owns a big chunk of InstantDEX, this gets SuperNET that much more of NXTventure… There is no short term effect as both were swapped at the current market prices.

ATOMIC

One of the sources of confusion has been between Atomic and InstantDEX, since they both appear to enabe real-time cross-blockchain trading, allowing users to exchange one coin for another almost instantly.

One of the weaknesses of the current cryptocurrency ecosystem is the existence of centralised exchanges – a serious compromise and regular point of failure in a technology built on decentralisation. At present, however, there is no other way to track which coins are being exchanged, which users are exchanging them, who owns how many coins, and so on – and in the process, a significant proportion of the coins are held in hot wallets, which are often less than secure.

CryptAxe, creator of Atomic, writes:

InstantDEX offers the ability to replace a major part of the exchange process, however it needs a way to keep track of all of these exchanges so that is where a solution like ATOMIC comes into play. ATOMIC allows ANY coin without any changes to begin tracking their exchanges on one blockchain. This means there is no central authority that declares an exchange good or bad, it is decided by the nodes on the ATOMIC network via the POE and POG protocols.

Atomic works at a lower level than InstantDEX, providing the instant-exchange platform with a way of tracking trades.

[Funding Request]: VRC

James:

I have a deal with VRC community for a swap of 538,916 VRC against SuperNET asset. The recent price for VRC was ~100:1 ratio against SuperNET.

VRC has committed to making a cloud storage GUI for SuperNET using the recent DHT API I made. The plan is to create a way for users (and companies or even other coins!) to rent out HDD space to the cloud. All of the details have not been worked out yet, but the VRC community has been quite active with its SuperNET support and with a cloud storage solution will definitely be worthy of SuperNET core inclusion. I will be working with them to solve whatever tech issues come up.

I hope to be able to provide a 50/25/25 revenue share from the cloud storage split between the user/VRC/SuperNET, so all SuperNET users can monetize their unused HDD, VRC will create a revenue stream for their hodlers and of course SuperNET will get a nice new revenue stream and increase the overall userbase.

I request approval for 5389.16 SuperNET assets from working capital and another 100 BTC for open market purchases so that we can get close to the target level of 10% stake

James

ATM support and Bitstarcoin

Whale has negotiated a deal with BITS (Bitstarcoin), who will be deploying ATMs in Cyprus and will become a core component of SuperNET.

The deal is for 1 million BITS in return for 15 BTC (10 BTC + 5 BTC worth of NXT). A further 1 million BITS will be placed in escrow. 60 percent of these will be released to SuperNET if the price stays over 12,000 satoshis for a week. If BITS does not purchase ATMs, 40 percent of the escrow will also belong to SuperNET; if they do deploy them then the 40 percent will be returned to BITS.

This should provide a mutually-beneficial arrangement between SuperNET and BITS, protecting and rewarding each. There are currently 16 million BITS, so this deal reaches the 10 percent goal for SuperNET ownership.

CryptoDevil writes:

The Bitstarcoin dev team will continue to enhance the multi-function in-wallet services, in conjunction with the commercial development of the ATM project and related ancillary services being funded and managed by the Cyprus company and their development team, working closely with superNET to present a unified platform that will be able to offer a full-service ATM user interface into cryptocurrency 1.0, 2.0 and beyond.

T3CLtd announces:

It gives me great pleasure to announce the integration of the Bitstarcoin project as a core component of superNET, in partnership with the commercial incorporation of both Bitstars and other superNET coins onto a cryptocurrency two-way ATM service being rolled out on the island of Cyprus.

Alongside the sale and purchase of standard bitcoin, users will be able to choose from a raft of alternate cryptocurrency projects such as the PoS Bitstars, with its generous staking rate for early adopters, as well as multiple other superNET crypto projects to be announced.

The projected implementation schedule is for the first few units to go live in Limassol Q1 2015, with our intention being to engage in discussion with relevant Cypriot government departments to ensure a good understanding of the technology, its function and potential for widening the scope of alternate routes towards enhancing both commercial and personal economic capabilities.

We choose not to disclose our company name at this time in order to avoid unnecessary interruption or interference. A full public announcement and press release will be made shortly before launch, along with the rollout of online support services and communication channels.

SNN funding and distribution

Last week an asset dividend of SNN (https://forum.thesupernet.org/index.php?topic=118) was announced. SNN, the SuperNET News Network, will be ‘a community owned and operated media outlet, with stories and content written by a wide range of contributors about crypto technologies and markets. 75% of revenues will be distributed to assetholders. Revenue sources include advertising, subscriptions and pay-per-view.’

James writes, ‘Since this is a seed stage enterprise, some funds will be required. The budget is 500,000 NXT to get to revenue producing stage.’

The project is managed by fumanchu808. You can read his work on Bitcoinist and CoinTelegraph, and view his LinkedIn profile (https://www.linkedin.com/in/edwarddeleonhickman) here.

The asset allocation is as follows:

  • fumanchu808 – 10 percent
  • NXTventure dividend – 7.5 percent
  • SuperNET dividend – 7.5 percent
  • JLH – 5 percent
  • SuperNET – 40 percent
  • SNN for other key contributors and writers – 30 percent

SNN will create content for the supernet.org website and also for the SuperNET GUI. As part of SNN, an advertising sales function will be created, which will also be used to enhance SuperNET ad sales. As one of the major revenue-generating aspects of SuperNET, the advertising is of strategic importance.

SuperNET Radio

Founder Kevondo writes, ‘SuperNET Radio is “The Voice of SuperNET” but [also] the voices of the other coins, Core, Supported, or Associated are also eligible to be heard.’

The plan is ultimately for SuperNET radio to broadcast 24/7. It will be as informative as possible, initially with the aim of educating the public and exploring further ideas when the project gains greater traction. DJs are welcome to join on a voluntary basis.

Some of the suggestions and points raised by Kevondo include:

  • Social, philosophical, and legal commentaries related to Crypto are welcome.
  • Call-in ‘Talk Radio’ sessions for SuperNET, Core, Supported, and associated coins.
  • ‘How to’s’ for services, as well as links and info for each coin.
  • People (DJs) to produce and represent any of these programming topics will be necessary.
  • We need to find knowledgeable, committed folks for each feature, coin, or asset who can assist listeners in the application, use, and value of the topic being discussed.
  • When would be the best time to schedule shows? This will depend on the coin/asset and market. It should be a time when the majority of owners, users and developers will reached.
  • What languages should the broadcasts offer? The scope of SuperNET and crypto is international. How can we move SuperNET forward in different markets?
  • Should it be subscription based? On start-up? Eventually? For individuals, or for coins and assets?

Help, feedback and ideas on all of the above are welcome. You can find out more and make suggestions here: https://forum.thesupernet.org/index.php?topic=181.0.

SuperNETwork

SuperNET’s network of public privacy servers (that is, the nodes in the privacy network that are publicly visible, forming the backbone of the infrastructure) will be used to store files in the cloud as well as relaying transactions and messages.

James writes:

Of course, no assurance that all parts of all your files will reside in these community servers, nor that the community funding will be there forever, but for now it looks like we can fund this from the [BTCD] staking revenues… These servers can be providing HDD for cloud storage, public routing, public access points, etc.

The plan is ultimately to have around 100 community-funded servers that can be relied on to be up and running all the time. Initially, BTCD needs some 50 privacy servers, running on a network of VPS machines. These will be used to bootstrap the network and for testing. Funding is available from the staking income of the BTCD collected during the SuperNET ICO (see vote).

This is a vital part of the ecosystem and SuperNET cannot be launched without it. If you are able to help set these up and maintain them, please contact Azeh on the bitcointalk forum.

Development update

Development of key functionality has taken further steps forward this week. Along with the capacity for cloud storage, James has used the SuperNET API (via BitcoinDarkd) to create the first telepod – the package that houses the information required for anonymous transactions.

James writes:

Now that the privacyNetwork is stabilizing and even has cloud storage, Teleport will be able to be finalized and then it is InstantDEX/Tradebots. Those two are related and will become the active coded projects soon.

All the networking is actually vitally needed by InstantDEX, so in essence great progress has been made, just in the foundation that InstantDEX/Tradebots needs.

Multisig

James:

Since without the 50 servers, I cant really debug the DHT and I need that for the next step, I decided to take a break and looked into curve25519

I figured out how to do 3 of 3 multisig!
I think I can also do 2 of 3, but still need to verify the 3 of 3.

I remind you I am just a simple C programmer and not a cryptographer. If anybody has the math background to confirm or deny my experimental finding, please post!

The thread can be found here: https://forum.thesupernet.org/index.php?topic=154.msg1262#msg1262

The ‘last mile’

One of the technical issues of the privacy network is sending a package through the public privacy nodes (i.e. those which have public IP addresses) and out to the destination address without the user’s IP address being compromised. James has been working on a system of probabalistic routing, which would have addressed this, though it was complex and inefficient.

A new development means he is now working on a way to complete the final hop out of the privacy network – the ‘last mile’ – far more effectively.

James writes:

My coding the DHT is what allowed me to solve this, so those that think these seemingly unrelated things are slowing down the progress, it is quite the opposite. It is helping achieve the ultimate goal!

TL:DR it is possible to transact with someone without ANYBODY actually knowing the IP address of the destination, and therefore very private comms are possible. If these comms happen to have telepods and funds are being transacted, then commerce can happen using this method.

Since people had a hard time understanding the simpler form of Teleport, I fear that few will be able to understand the new deaddrop approach. Hopefully somebody will provide some feedback on its weaknesses, if it has any.

I feel this is a fundamental improvement in privacy. In all prior versions, there was at least a statistical linkage of your acct # with IP address. Now, all that is happening is that packets are being sent to dead addresses so there is nothing to correlate.

This is a bit of unexpected extra work, but the qualitative increase in privacy is well worth it. A key thing to realize is that all of the SuperNET just gets this level of privacy for all comms.

Life moves extremely fast in the cryptocurrency world. With no bureaucracy or institutional structures, creativity is given free rein. James is one of the leaders of the financial revolution, with several of his projects breaking new ground – turning coins into assets, paying dividends to coin stakers, enabling cross-coin functionality and an entirely new approach to anonymity.

The tech behind SuperNET is breaking new ground, promising a powerful and robust platform for crypto commerce and communication. If you are interested in joining the SuperNET community, you can find out more on the SuperNET forum. There are roles for everyone willing to contribute.

SuperNET related links

Supernet Forum
https://forum.thesupernet.org

Follow SuperNET news
https://twitter.com/Jl777News
http://jl777news.tumblr.com/
https://www.facebook.com/pages/Jl777/688097541246130?ref=stream

SuperNET related projects:

Coinomat
https://coinomat.com

VRC
https://vericoinforums.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

First published by SuperTEAM.  SIGN UP FOR SUPERNET NEWSLETTER @ thesupernet.org.