NXTER.ORG

Nxt News – November 2017 (II): Be Happy With What You Have. Be Excited About What You Want.

November (II)

Welcome again, fellow Nxters! The brisk autumnal air is upon us. Christmas might as well be here, and Thanksgiving has not even happened. As always, last week was an eventful one for the Nxt / Ardor ecosystem. Rebranding was the apparent theme of the week. In anticipation of the upcoming new year, many sites and platforms are undergoing major rebrands, some are launching anew, and others are permanently shutting down.

We are the comprehensive aggregator and distiller of all the important and relevant news associated with the Nxt / Ardor ecosystems. We appreciate you sharing your passion with ours as we compile all the events that you need to know and, likely, missed in the last week. This newsletter is accessible to all, no matter your level of familiarity with the platforms. We ooze passion for Nxt and Ardor and we have plenty of content that is aimed at higher level, more technically oriented of our readers. Regardless, sit back and consume the news that was last week!

NXT COMMUNITY

NXT AE

DEVELOPMENT

NXT IN THE MEDIA

PRICE EVOLUTION

This week’s newsletter is put together by James, Jose, apenzl, and rubenbc.


NXT COMMUNITY

  • IGNIS ICO

Everyone wants to know how much money was raised. With the IGNIS ICO officially over Lior Yaffe, co-founder of Jelurida, announced that Jelurida will release an official statement documenting the statistics of the ICO, including the money raised. It will be breaking news when it happens.

Ignis ICO Report 8

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  • [ANN] ArdorForum

News from the Nxt Foundation! With the launch of Ardor around six weeks away; January first, 2018, the Nxt Foundation (soon to be ANG) announced that there will launch a dedicated Ardor forum, creatively named: ArdorForum. The forum will be hosted on the same database that the Nxt forum is on so anyone with a NxtForum account will also have an ArdorForum account. More details to come in the coming weeks.

This forum will be one of the go-to resources for community members who have questions about all things Ardor.

VanBreuk, of the Nxt Foundation, wrote:

There will be a new forum very soon.

Good news is we’ll be using a parallel forum for Ardor, that will share the database with NxtForum, so everyone who has an account here will get an ArdorForum account, and gets to use both while keeping personal history.

The snapshot philosphy applied to the forum, if you want 🙂

I estimate the move will take place in a couple weeks from now.

Source

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  • Ardorrate.com is now ‘Moonstats’

It must just be that time of the year because there is a lot of new rebranding occurring. Yet the latest is Ardorrate.com becoming Moonstats. The latest version and the reason for the rebrand are explained below.

They wrote:

As many of you might have already noticed, the new version of ardorrate.com is live as of today. With the new version we also rebranded to a new name; ‘Moonstats’.

The Ardor price and historical charts are online at https://www.moonstats.com/ardr
The NXT price and historical charts are online at https://www.moonstats.com/nxt

A few new features of Moonstats.com:
– Support for multiple fiat currencies
– Price spread in charts
– Several technical and speed optimizations
– Brand spanking new design
– Available for all big crypto currencies

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  • Chinese Community – News Updates

Last weeks newsletter has been translated into Chinese. Some content has been trimmed from the original version.

Nxt 新闻 – 2017年11月 (I): 永不放弃

fz1128
Chinese supporters can continue to visit the Chinese version of Nxter.org.

https://www.nxter.org/zh-hans/

Also, fz1128 has been uploading Nxt/Ardor videos to the Chinese video site Tencent video, and he contacted the new https://www.zb.com and asked them to add NXT.

This new exchange, reply to me and let me to submit detailed information about NXT and team information of Jelurida.

Our deepest thanks and respect goes to fz1128, may more Nxters follow in his footsteps and do their part. Ain’t that the spirit?

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  • Important Reminder About myNXT Wallet

Users of myNXT Wallet received an email from VanBreuk last week. It was a reminder that the service will be terminated at the end of the year. The ongoing popularity of the NRS light client has doomed this third-party wallet. The service will remain operational as normal until November 30th. Users have until December 31st to migrate their assets to a new wallet.

VanBreuk wrote:

Dear myNXT wallet user,

Due to the wide usage of the official Nxt light client feature (https://nxtplatform.org/download) and the Jelurida public node (https://nxt.jelurida.com), the lack of manpower for development and support, and no clear path to profitability, myNXT has closed new user registrations and will phase out the MyNxt web wallet feature by the end of 2017.

You can confirm this announcement in the login page of the myNXT web wallet, at https://wallet.mynxt.info

You will be able to operate the myNXT wallet normally until November 30, 2017, and will be able to export the Nxt accounts in your web wallet until December 31, 2017.

For instructions about how to continue using your Nxt accounts outside of the MyNxt wallet, see https://wallet.mynxt.info/faq.php
If after reading you still have any doubts, please do not reply to this email. You can ask in our NxtForum board, https://nxtforum.org/mynxt-info

REMEMBER THAT MYNXT WILL NEVER ASK YOU FOR YOUR LOGIN PASSWORD OR YOUR MASTER PASSWORD. DO NOT SHARE THEM WITH ANYONE!

So it is VERY IMPORTANT that you, if you still have NXT, assets or currencies in your myNXT wallet accounts, take action before December 31. myNXT cannot access the contents of user accounts, so any contents in accounts that have not been exported by the end of the year will be lost.

We want to give a big thank you for your support, and we hope to continue to see you as both Nxt and ARDOR move forward!

 

  • Nxter Meetup with Riker in Amsterdam

Lior Yaffe was very busy last week in Amsterdam. Also known by his alias, Riker, he interviewed candidates for Jelurida and attended a Nxter Meetup.

Riker wrote:

Regarding a meetup. Would you like to gather at 19:00 at my hotel Hampton By Hilton Amsterdam Arena Boulevard and find a place nearby or does anyone has a better recommendation (https://www.google.com/maps?hl=en&q=Hampton+by+Hilton+Amsterdam+/+Arena+Boulevard,+Hoekenrode+1,+1102+BR+Amsterdam-Zuidoost,+Netherlands&source=calendar)

zuqka – Who is the guy next to Thomas?
farl4bit – @mantas779 is left

 

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  • @Almonte Showing Ardor’s Potential in Business

Last week Almonte was in Barcelona. He promised to document his experience in great depth and he delivered. He wrote about the cooperation between Ardor and Bankinter. Many fintech institutions, notably banks, are very interested in the security provided by the blockchain. Interesting read, link below.

As promised, this is article where Bankinter and Ardor walk together https://www.linkedin.com/pulse/bankinter-interest-blockchain-technology-alberto-fernandez

“Once we covered the basis, the most interesting part began: “Blockchain for businesses”. Here we made a hands-on explanation about the most important Proof of Stake blockchain out there: The Ardor platform to be released in production next January.

As the main principle of this 2 hours introduction was to extract use cases, the most convenient next step is moving forward to application building? Fancy a use case competition?”

Source

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  • Travin Keith – Bridging the Gap -“A Digital Initiative Steered by the Blockchain Revolution”

Last week Travin Keith attended a conference in Hamburg entitled “A Digital Initiative Steered by the Blockchain Revolution.” Travin attended as an eminent expert in the field, among many others at the Deutsche Bank AG sponsored event.

Source

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  • Pics from Tokyo Blockchain & Cryptocurrency Conference

In the last newsletter of October, we introduced this meetup. Travin attended as the Nxt / Ardor expert. The pictures below document the awesomeness of the event!

All about NXT:

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NXT AE

  • Janus – Status Update

The mining farm business of Janus continues to grow as they continue to produce equipment for the upcoming launch of JNSHash. They are looking at novel ways to add value to their tokens.

Our medium-sized mining operation just added several more rigs for Bitcoin Gold, those who own more than 100k Janus tokens will end up receiving a nice chunk of early mining rewards as our way of thanking everyone. Stay tuned for more!

The Janusproject Team

Join the “Janus Token” YouTube Channel

 

 

You can find a list of all paid dividends here. Also, follow the Janus news on https://nxter.org/janus, and Janus Twitter.

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  • Adel – Status Update

Big news from Adel – they announced a possible move of the ADL token from the Nxt platform to the Ethereum one. This is a big deal and will require a community vote. No timetables were proposed for this move but it is a big announcement. This is not a sign of weakness or lack of faith in the Nxt / Ardor ecosystem, but a diversification that hopes to capitalize on current trends in the blockchain world. There is no need to move your assets to a new wallet, the NXT-backed ADL will live on but they anticipate, we do not know why, that the Ethereum-backed ADE token would be worth more. Security is a known issue with the Ethereum platform and it is not as robust or as mature as the Nxt platform. Our view is that they are unnecessarily creating a new token that will fail to distinguish itself from the other tokens out there. Time will tell.

They wrote:

BIG Announcement ▲ Adel Proposes moving $ADL to Ethereum
Today we are announcing a proposed plan to move the ADL coin from the Nxt platform to Ethereum. This will require a vote by the community members, and if successful, will mean that Adel will create an asset on the Ethereum blockchain and provide a 1:1 creation of an ERC20 compliant asset. The reason for this proposal is the enable this new Adel Ethereum coin to trade on a wider range of exchanges, increase trading volume, and raise the profile of Adel as a blockchain agnostic incubator. Adel still plans to create a child chain on Ardor for the Adelshare (ADS) token in Q1’18.

 

Gabriel Dusil:
Q. When will the vote commence? Do you plan to run the second stage ico?

A. There will not be another ico. Adel stakeholders will have the option to keep their ADL or exchange them for ADE.

Q. What will happen with my adel coins, which are on the NXT wallet?

A. Your ADL will live on and you can keep them or exchange them for ADE (AdelEther). We anticipate that the ADE coin will have more options to trade on many more exchanges.

Q. What does this mean for Adel & Nxt?

A. Adel will continue to utilize the advantages of the Nxt blockchain. For example NXT will be utilized for the planned ADS (Adelshares) profit participation token. We also highlight the value of being a blockchain agnostic incubator.

Q. What is the timeline for the vote to move to ethereum?

A. The details of this proposal needs to be discussed with the community, and our legal teams so that this new ADE asset is created correctly. So there is no timeframe set for the vote at the moment. But we want to proceed with a vote as soon as possible, and practical.

Q. Will there be two coins in Adel: ADL & ADE?

A. Yes, both coins will exist in the ecosystem and serve as a transaction currency for members. This is the most practical scenario because it is unrealistic to expect that 100% of ADLs will be exchanged for ADE.

Q. Does this announcement mean that Adel is abandoning the Nxt blockchain?

A. No. We continue to support Nxt, and their robust features. Both ADL will reside as an asset on the Nxt blockchain. ADS will be an asset on the Ardor blockchain as a child chain. In fact we feel that the creation of Adel’s ADE coin may even help to raise the profile of Nxt, within the Ethereum community. We don’t want to propogate an “Us vs. Them” scenario, as often seems to play out between blockchains. Adel is blockchain agnostic, and we believe that there are much wider implications to blockchain’s positive impact on society and humanity.

Follow Adel In Medium

Adel’s first incubated project will be iFin.io.

 

More info

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  • Bitswift – Status Update

Bitswift looked into creating a unique rewards/credit system for their Bitswift.Shop store. This would happen after they get their foundation on Ardor, which means it will likely occur in early Q1 next year. They look to accept your crypto tokens in exchange for goods in their store.

They wrote:

Our tokens will be integrated into our shop after we get our foundation straight into Ardor. We are looking at a rewards / credit system, that issues credits to the users on checkout for x% of the cart value. I think to gain some traction and be competitive in this online store business we really have to change the game. We need to start operating on credits rather than debts.

You can now purchase any item using Ardor, Nxt, Bitswift, Bitcoin, and Litecoin from bitswift.shop.

 

bitswiftbro
give us your crypto, and we will give you gadgets … fair trade

We have pushed a bunch of new products to the shop, check it out if you have not in the last week or so. Categories are becoming nice and populated. We need to get some tablets and digital cameras on there. bitswift.shop – now accepting Nxt and Ardor tokens.

Just signed up with a large video game related distributor. Expect Playstation and Nintendo coming to Bitswift.shop. By the way, if anyone here plays overwatch.. I challenge you. I am prepared to own you in OW. Send me a PM

https://www.facebook.com/bitswifttech/
If you use FB we would appreciate a like and follow. FB is pretty strong when it comes to marketing. So says our marketing guy. A community of non-crypto nerds is growing over there, so that’s good.

Bitswift – Economy, Tech, Shop. Welcome to Bitswift Ecosystem.

 

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  • Important Reminder About MGW

Multigateway announced, across many platforms, that users need to migrate their superBTC/superBTCD assets to a different wallet on a different platform by December 31st, 2017. You have until the end of the year to move them. Any unmoved assets will be absorbed by MGW and considered a donation.

They wrote:

IMPORTANT REMINDER for holders of superBTC / superBTCD in the Nxt Asset Exchange

As announced in the Multigateway website, in the NxtForum support thread and in blockchain message to all asset holders above a minimum, *December 31st 2017* is the deadline to withdraw Multigateway assets to external wallets.

Any assets that are not redeemed by December 31st 2017 will be considered a donation to the service.

Withdraws can be requested in the usual way, either with the (deprecated) SuperNET Lite wallet, or sending the assets to the MGW account, NXT-8RQH-HFUP-3AJ9-E2DB9, including a permanent message with the external BTC/BTCD address where the coins should be sent.

The BTC MGW servers went offline months ago, so BTC redeems are processed manually and take a bit longer. BTCD MGW servers will still work until the end of December, so withdrawal times are between 10-15 Nxt blocks. Remember that the BTCD > KMD swap process is still ongoing !
— For any doubts, contact @vanbreuk in this slack

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  • SuperNET AE > KMD Swap

News about obtaining a Komodo address without running a client!

As announced, holders of jl777’s assets on the Nxt blockchain must move their assets. If they don’t, the assets will be considered a donation.

They wrote:

VanBreuk:
I had overlooked the Komodo Paper Wallet Generator in the first post, for whoever only wants the obtain a Komodo address without running a client.
https://github.com/SuperNETorg/KomodoPaperWalletGenerator 
https://nxtforum.org/unity/supernet-assets-nxt-ae-gt-komodo-migration

Source

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  • New Child Chain? Action Coin Network

Exciting news about a new child chain: The Action token (ACTN) on the NXT Asset Exchange (AE).

In their own words:

ACTN (an asset issued on the NXT Asset Exchange) represents the amount of “Action” each account will receive in the future Action blockchain.

We’re building an online community of people that love to participate in new and interesting activities.  We have a rewards program that encourages social interaction in exchange for Action (ACTN) and we’re currently working on a related business directory, as well as Android and IOS apps.  Action may be redeemed locally for a limited number of special offer vouchers (deals) and we’re currently talking to nearly 2,000 businesses across Canada in an effort to bring even more special offers to the table.  Action will also be required by vendors, to obtain network advertising services over the coming months and years.

ACTN says on bitcointalk

“I did originally look at Ethereum (6 months ago), but I found their platform to be buggy, expensive and slow. Not yet as robust or mature as the NXT/Ardor platform.”

“March 1st is the planned token distribution date. That will give us time to integrate with the Ardor Platform (launching January 1st), if approved as a child chain, or to proceed with a backup solution (such as Waves, or..?).

The referral program will go for as long as there are bounties to distribute, but the Action payouts will be reduced over time (after March 1st).

It is currently based on the NXT platform, but we’re hoping to move to Ardor when it’s launched. Unfortunately it’s not yet clear if that will be possible, as communications with their team have indicated that only select child chains will be permitted.”

White Paper Published – Download in PDF format here 

Asset: 13483660838603398727
Quantity: 10 Billion
Issuer: NXT-5F6V-G8RU-ZGV6-7XAXU
Wallet: https://actioncoin.io
YouTube: https://youtu.be/FvJEXyuALCQ
Team: https://actioncoin.io/team/
Rewards: https://actionrewards.net
Twitter: https://twitter.com/actioncoin
Bounties: https://bitcointalk.org/index.php?topic=2169616

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DEVELOPMENT

  • Ardor – v2.0.4e Proof-of-Funds

A user asked about the amount of Bitswift tokens that will be allotted per a given balance of IGNIS tokens.

Bitswift is the latest token to become a childchain of Ardor. 10% of all Bitswift tokens issued is to be proportionally distributed amongst IGNIS holders when Ardor launches.

Here is the exchange:

Supernxt user

Hello, my IGNIS balance is 116,000 on the testnet…
Is this correct that the 10% BITSWIFT airdrop, distributed proportionately to all IGNIS holders, equals just 47 BITSWIFT then, for me?
Thanks

Jelurida responded:

The total number of Bitswift coins is 4061361.999693 and of Ignis coins is 999829588.664593 (you can see those when the snapshot data is imported). If you have 11600 Ignis, 4.7 Bitswift seems correct.

Since now balances on the Ardor testnet are based on a snapshot from the Nxt mainnet, everyone who had NXT or ARDR or JLRDA should also have testnet coins. Please try the testnet, it should be safe to send transactions because Ardor transactions cannot be re-broadcasted on the Nxt blockchain (the byte format has changed), and also the transaction replay protection is now mandatory on Ardor, each transaction must have a valid ECBlockId and ECBlockHeight parameters and those from testnet will not match on the Nxt blockchain or on the future Ardor mainnet.

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  • btc2nxt – Monopoly Game Powered by Nxt

We love to showcase cool projects developed by members of our community and this week we showcase Monopoly, powered by the Nxt blockchain! The game is now ready to test, please follow the instructions below if you want to help.

How to Test

FSM (Finite State Machine) is new design of AT (Automated Machine). Two years past, FSM still slept in the bitbucket and didn’t improve. That is why I want to develop a game or some use cases to push FSM to the real world or solve some problems of businesses. When I have been coding, I found many bugs of FSM and need to improve.

Last week, I reached the first milestone which succeeded in airdropping coins, distributing a dividend to asset holders.

Because I am not good at UI design, all tests are on HTTP and offline. Actually, I use Nxt1.3.5 NRS, and sometimes the 1.3.5 UI too.

Follow the instructions in this thread to help with testing and play the game. You can read more about the game here.

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  • Weekly Reminder

Remember all the things you forgot? No, you forgot them? That sucks, but we are here to help, partly. In case you forgot the distinction between ETH and NXT or forgot (or do not know) the distinction between NXT and ARDR, we have a short and succinct Tweet for you!

Here it is, from apenzl:

We’ve run smart contracts in production for 4 years and have never lost any investor’s funds in a hack.

Only centralised exchanges have been hacked because of their bad security. Nxters have created the basis for the shift to a global decentralised economy system, with Ardor, the first scalable, well-tested, smart transaction-enabled blockchain platform for businesses and everyone. Did I mention it’s energy efficient? Begin using the API.

Migrating an existing application which relies on the NXT APIs to Ardor is a relatively simple task > see nxtwiki.org.

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NXT IN THE MEDIA

  • Lior Yaffe in Medium –  Blockchain as a Service

Large companies like Microsoft, IBM, and Oracle are promoting Blockchain-as-a-Service (BaaS) options for customers. Ardor core developer Lior Yaffe gives his two cents about this. Long story short, little to no value is added by most of these companies when you can, for free, build and test your own scalable blockchain on extent platforms.

Thanks for the heads up Lior!

We hear more and more recently about “Blockchain as a Service” or “BAAS” solutions from large corporations such as Microsoft, IBM and Oracle to name a few. But what do they really mean? I decided to investigate.

….

Source

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  • PeculiarMonkeys – Ardor (ARDR) Platform Review: BlockChain 101

A nice and informative piece about the Ardor platform. A good place to start if you are brand new and have no idea what Ardor is, how it works, or who is behind it.

The Highlights of the Ardor Review includes:

Ardor a brief Introduction
The Ardor Team
Ardor Marketing Strategy
Ardor Investment Analysis

Before we begin, please understand that cryptocurrencies, in general, are high risk- high reward investments. As with any investment, please research before carefully deciding to invest. Having said this, I do believe Ardor has a bright future and could prove to be a lucrative cryptocurrency Investment.

Source

 

PRICE EVOLUTION

  • CryptoMessiah – Just picked up a nice sack of $NXT

“Nxt at historical lows / support. Snapshot for Ignis, the first child chain of Ardor is Dec. 25th. Likely a good entry for ~2 month hodl. Nxt rallied hard for Ardor snapshot.”

 

  • CryptoYoda1338 – CryptoWisdom Market Report #1

What an opportunity for $NXT right in key buy zone at breakout point of previous rally. Although generally more volume is needed, it likely will increase in the very foreseeable future. Early entry is already triggered, however we want to make sure to have a very low downward risk. There are already buyers in the markets driving up the price, which will likely accelerate in the coming weeks. If you have been waiting for the opportunity to get some cheap bags of $NXT just before takeoff, that might indeed be your chance. Trendline is being attacked right here right now. If prices manage to close above we will likely see more upside traction soon. Therefore green box is suggested buy area. Have a close eye on this one, before it takes off. Would be a pity to let this opportunity go.
Entry: 755 – 1100 in buy zone of previous High

  • TradingView – NXT/USDT

Source

 

  • Weekly NXT/ARDR Price Evolution

The following graphic shows the NXT / Bitcoin exchange price at Poloniex over this past week:

The following graphic shows the ARDR / Bitcoin exchange price at Poloniex over this past week:

Live ARDR stats from the Nxt Blockchain Asset Exchange:

 

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That is all for this week, Nxters. Make sure you have more of your favorite warm beverage available as you stay tuned next week for more coverage of the new year launch of Ardor, news of whether or not ADL holders vote to migrate to Ethereum, ongoing projects, and much more. For those who cannot wait a week to learn more, visit our site. We explain in much more detail about Jelurida, Ignis, Ardor, and everything else that is pertinent to the platforms and the momentous ICO.

Follow us on Twitter for important breaking updates during the week as they happen. Stay warm and stay informed, dear Nxters. See you back here next week!

Help us grow and help us continue to provide excellent and focused coverage on the ever-growing blockchain space by rewarding us for our efforts. Donation address: NXT-TK9J-MEKH-MUP9-HFCH2.

Live stats from the Nxt Blockchain Asset Exchange:

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.

 

Nxt [CORE]: Arbitrary Messages

The Arbitrary Message (AM) feature enables Nxt users to send small amounts of data to the Nxt blockchain. A simple concept in theory, but the applications for this feature are extensive.

Arbitrary Messages commonly take the form of SMS-length communications between users. This was the first application and is still one of the most popular uses for AMs, but the term ‘message’ is a loose one: as well as being used to send public or encrypted text messages to each other, AMs can also be used to send up to 1,000 bytes of any form of data.

Messaging

At its simplest, messaging involves sending a string of text from one NXT account to another. These messages can be viewed within the client. There is also an option to encrypt messages. If they are left unencrypted, they can be read by anyone since the blockchain is a public record of every transaction. Like a regular transaction, AMs are subject to standard tx fees – currently 1 NXT.

Nxt_msg

There are, of course, many valid use cases for unencrypted messages. A famous example is the AMs sent to the hacker who stole 50 million NXT from BTer’s hot wallet on August 15, 2014, or jl777’s use of an AM to cancel the SuperNET deal with CoinEVOLVE after the dev created a series of scam assets and went missing in action. You can view a list of all blockchain messages here.

Although transactions on the blockchain are meant to form a permanent record, AMs are intended to be removable. In the future, when the blockchain has grown and needs to be slimmed down to ensure its sustainability, messages may be pruned. Nevertheless, they form a critical building block in NXT’s second-generation functionality, underpinning a series of features.

MORE USE CASES

At the most basic level, the AM system can be used to transmit human-readable messages between accounts, creating a decentralised chat system. However, advanced applications can use this feature to store structured data, such as JSON objects. These can be used to trigger or facilitate services built on top of NXT.

Nxtmemo

The idea of a Twitter clone based on NXT messaging has been around since the earliest days of the platform. Nxtmemo (https://nxtmemo.com) is a straightforward version of this idea.

You can add your nxtmemo profile to the blockchain, and BBcodes are available for showing images, links, medialinks, etc. Log into your nxtmemo account with a NXT token to choose your display name – it must be a NXT alias that belongs to your account. Simply send your unencrypted messages to NXT-W6CT-NPDH-AAQW-HWCHA to have them show up on the site.

nxtmemo

NXTMemo is free and open source, and is created and maintained by toenu. See more on the NXT forum.

Cryptamail

cryptamail_nxt-inside

Cryptamail is a project created at Techcrunch Disrupt NY 2014 by a group of five developers, led by Kushti (now a Nxt core developer). The goal was to create a user-friendly decentralised email client with Alias-based identification. Although not currently in active development, Cryptamail is still running on the NXT testnet. It’s at cryptamail.com.

Read more about this proof-of-concept on the Nxtforum.

Multigateway

mgw

The Multigateway (MGW) is Nxt’s distributed cryptocurrency exchange – the least centralised such service currently available anywhere.

The primary use case for AMs in MGW is the automated deposit and withdrawal of bitcoins and other supported cryptocurrencies. These are held on MGW’s secure servers and exchanged for tokens representing each currency in the Nxt Asset Exchange, allowing for direct peer-­to-­peer trading. There are three separate servers, at least two of which have to agree for a transaction to take place – making it vastly more secure than traditional exchanges.

Essentially, MGW creates a deposit address for the Nxt user account for each of the supported coins. When the user sends coins to that deposit address, MGW delivers to the associated Nxt account the same quantity of coin assets (designated mgwBTC, mgwLTC, etc). Each of these assets represents one coin. Coin assets can then be traded on the NXT Asset Exchange like any other asset. MGW uses a similar process in reverse to withdraw coin assets back into the user’s own coin wallet. The requests to the MGW servers are broadcasted to the Nxt blockchain as Arbitrary Messages.

Multigateway was originally a plugin to the Nxt NRS client from NXTservices. It has now been incorporated into the SuperNET client v.0, in the form of a modified Nxt client that can be downloaded from the Multigateway site.

You can read more about the Multigateway here.

Helix

Helix is a standalone cross-platform financial analytics and visualisation client. As a part of FinHive, a powerful distributed financial analytics initiative that is the backbone of SkyNET, Helix has the ability to learn. A small apps store for financial tools will be included in the client, not only for crypto but also for traditional traders. The Helix client includes a distributed computation module to provide BOINC-like functions, tailored towards the financial industry.

Helix uses AMs as data containers to store whole apps. Developer nexern explains:

‘The multilayer perceptron app is 2.3 kb in size and chunked into 3 AMs. You can see the compressed and encrypted perceptron (and tetris game 4 AMs) in the blockchain here

Helix simply loads, concatenates, decompresses and decrypts these AMs directly from the blockchain, where they are stored, into memory. The process takes just three seconds. No disk space is needed. It is a fast, clean and secure solution which has a number of important real-world advantages:

  1. It makes apps very independent and robust against attacks.
  2. It provides nearly unrestricted access from anywhere due to the decentralised storage.
  3. It provides on-the-fly autorepair/update capabilities.

For example, if an app is broken due to an outdated API link, Helix can look for additional update/repair resources by scanning AMs and looking for the current app id. Where higher resource stamps are found, they can be added while Helix is running.

helix_finhive

Helix will be used by FinHive, a wholly owned subsidiary of SkyNET. You can see FinHive’s roadmap here.

Read more on the Nxtforum.

 

Conclusion

As a result of its versatility, AMs can be used to build a vast range of projects, from simple messaging apps to file-sharing services, decentralised applications, and higher-level NXT services.

NXT is in ongoing and constant development, and changes to the core can always be proposed by the community. One of the topics currently being discussed about the AM feature is adding a standard for multipart messages or increasing the allowed message length, as new projects have started to link AMs together so they can save more data to the NXT blockchain. You can join that discussion on the Nxtforum here.

Nxt is a versatile, open source cryptocurrency platform. In this Nxt CORE article series we will dive into the main 2.0 features of Nxt. The first article was about NXT, the token itself, the second about Nxt ALIAS system. 

Read other articles from the Nxt [CORE] article series.

Also see: Nxt – The Economy Platform – Usecases for everybody

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:

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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 #6

Welcome to the SuperNET newsletter!

supernet-newsletter

In this edition, we’ll be digging a little more into Nxt, as well as some of the assets that James gave to SuperNET. These assets were previously mentioned (in SuperNET Newsletter #3), though not explained in detail. There are also some new announcements and developments, as always.

Topics

  • Market
  • neoDICE
  • MGW
  • NXT Freemarket
  • NXTweb vs CoinEvolve
  • SuperNET assets explanation
  • SuperNET CORE: NXT
  • Development update
  • SuperNET demo
  • Telepathy whitepaper
  • Your Supernet needs you!
  • SuperNET related links

Market

Despite the recent bear market in Bitcoin, which has badly affected the alts, SuperNET/UNITY price is still within 15 percent of the ICO price – probably one of the best performances over the last month, considering how much everything has lost. James writes,

‘Remember that SuperNET is spending 1% on things like all this development, not 100%, so ignoring market fluctuations, the NAV will remain. The revenue projections are quite difficult to make and I priced it at 0 due to this. Long term, with a big user base, then of course the revenues will be quite significant, but this requires a lot of work, progress and most importantly cooperation among all the coins.’

‘With SuperNET, we have financial ties with the core coins and this will be needed to ensure continued cooperation, especially if we are in a prolonged bear market. What is easy to join, is easy to unjoin and I much rather have few coins with long term commitment to build upon. Only the coins that want to be featured in the SuperNET GUI and getting the cross promotion and technical integration, need to let us buy 10%. If they just want to use the SuperNET services, any coin can do this. Coins without redeeming features wont benefit from being part of SuperNET as nobody will use them.’

neoDICE

NeoDICE is ready for public beta testing within a few days!

NeoDICE was the first asset dividend to be paid to SuperNET holders. NeoDICE is a fair betting game that runs on the NXT blockchain. It is based on the immensely popular satoshiDice, though with a few differences – the most important one being that neoDICE processes unconfirmed transactions, making gameplay near instantaneous.

NeoDICE does not require any additional registration or authentication than a NXT account number. To determine winning or losing bets, it calculates the SHA-3 hash of a combination of the transaction ID and a daily secret (a number unknown to the player). The previous day’s secret as well as the hash of the current day’s secret are published, providing for an easy way to verify the outcomes of wagers: everything is visible in the blockchain.

NeoDICE is based upon know-how from NXT’s Come-from-Beyond, but is being actively coded by several developers represented by hash. Come-from-Beyond and jl777 are project consultants.

100% of neoDICE revenues will be distributed to assetholders. This indirectly includes SuperNET, so UNITY holders will receive dividends from neoDICE. It will initially be playable as a NXT client plugin, and will later be included in the SuperNET GUI. Finally, it will also be released on a standalone neoDICE website, allowing gameplay without a NXT client. ETA is December 2014.

NeoDICE is traded on Nxt AE (asset ID 18184274154437352348) if you want to load up before launch.

MGW

The Multigateway (asset ID 10524562908394749924), NXT’s distributed exchange, has previously been running on James’ servers. This is about to come to an end with the move to production servers.

VanBreuk writes, ‘The Multigateway production servers are working and they will be open to users as soon as stress test cases are finished and a new GUI is available. We have made the first BTC deposits and withdrawals. Processing time has been 45-60 minutes in both cases. So we hope these times around the hour mark will be the norm. Almost ready…’

The Multigateway will provide a key part of SuperNET’s functionality, since – in conjunction with InstantDEX – it will deal with all the automatic exchanges from one currency to another.

NXT Freemarket

NXT Freemarket (asset ID 134138275353332190) is a decentralised online marketplace that enables free, global, private trade of any goods and services, with low fees and no interference.

FreeMarket lives on the NXT blockchain, so there is no single point of failure. It is resistant to attack by anyone who would deny you your right to trade peacefully. FreeMarket automatically encrypts messages between buyer and seller, keeping your information private. No IP addresses are logged anywhere. Payments via NXT are built right in. No need to leave the app to send a payment, no need for PayPal or another third-party payment processor who has your private data.

NXT freemarket has been in BETA since mid September, so it has been in the wild and tested. The developers have announced that they have an update scheduled on 9th of November. After this release, the promoting of FreeMarket starts.

20% of FreeMarket listing fees (7.77 NXT per listed item from 2015) will go to SuperNET.

You can download the NXT Freemarket install for your Nxt Client here: http://nxtfreemarket.com

NXTweb vs CoinEvolve

You may remember this arbitrary message (txID 6374368705651792002):

25.09.2014 02:13:04:

All agreements between SuperNET and coinevolve are hereby terminated due to abandonment by Chris Sommers.

James

Even though there was never a direct partnership between SuperNET and the abandoned CoinEvolve project, unlucky buyers of EVOLVE and EVOLVE2 can claim free NXTweb assets.

An arrangement has been made with Christian Sommers, who has now transferred the source code for his websites to POPPP from the French Nxt Community. POPPP is overseeing the modification of the code and ensuring that the sites are set up.

James comments:

It is quite clear Chris Sommers is a scammer/criminal
I suggest that people that want to prosecute him do so in the fiat world.

POPPP has stepped forward to do the work required to create sites in the same general area as the coinevolve sites. I will do a SuperNET deal with POPPP for his asset and donate my evolve assets I ended up with to POPPP so he will have a meaningful ownership of the new asset.

The first NXTweb site is already live. It is a crowdfunding website: www.nxt-starter.com. Payments are initially accepted in NXT and BTC through coinpayments.com, but the site will be heavily developed over the next two months to take coinpayments out of the loop and accept more currencies. Two more websites will be built from Chris’ source code: a freelancer website and a microjob website. More sites are planned for NXTweb in the future. James is acting as an adviser only and will not build any tech for NXTweb.

SuperNET will receive 25 percent of NXTweb’s NET profit.

There are 1 million NXTweb assets issued. (asset ID: 18052454258090117553). 65 percent of the NXTweb assets are being given to the scammed CoinEvolve investors. Owners of EVOLVE and EVOLVE2 can send their assets to NXT-HTM9-BEPZ-28NP-A4AEK. For more information, see https://nxtforum.org/assets-board/(ann)-nxtweb/

For more background on the situation with CoinEvolve: SuperNET Newsletter #1.

SuperNET assets

James donated a number of assets to SuperNET. These will form parts of the core services, value and functions of SuperNET. You can read more about all of them on the NXTventures board of the NXT forum. Many of these assets are interlinked and own proportions of each other.

InstantDEX (asset ID 15344649963748848799) will soon offer near-realtime trading of NXT, Nxt assets and other crypto – a huge advantage for trading and for regular transactions over typical blockchain confirmation times, whether that is Nxt’s 1-2 minutes or Bitcoin’s 10 minutes.

The tech is almost complete and will be integrated into SuperNET so that users can enjoy fast, automated conversions between one crypto and another.

SuperNET owns 241,485 InstantDEX.

InstantDEX fees will flow through these and be dividended out to SuperNET investors.

NXTprivacy (asset ID 17911762572811467637) contains all of James’ privacy-related projects, currently 50% of Privatebet, 30% of the Anon ATM card (cryptocard) supplied by Coinomat, and also 0.1% of Teleport fees will flow through NXTprivacy into SuperNET.

SuperNET owns 241,485 NXTprivacy.

NXTprivacy dividends will flow through these and be dividended out to SuperNET investors.

Privatebet (asset ID 17083334802666450484) enables fully decentralised, peer-to-peer betting, with publicly verifiable results. This paves the way for sports betting and casino applications, all of which will pay dividends to Privatebet (and SuperNET holders through NXTprivacy). The ‘house edge’ for neoDICE will be around 1 percent, and this is likely to be standard.

Cryptocard (asset ID 7110939398145553585) will be a way to bridge crypto into fiat. These SuperNET cards are normal MasterCards and will have a $1,000 per day limit. The cards have been ordered. At the moment these are ‘half anon’ cards: A photo ID card is required for – but no banking information. There is being worked towards finding a full anon solution.

1% of the processed transaction volumes will be transferred to the assetholders.

More information about the half-anon approach can be found in SuperNET Newsletter #5.

Tradebots/nxtcoinsco (asset ID 17571711292785902558) is an asset that will allow people to create their own custom tradebots.

James writes, ‘I plan to allow tradebot writers to publish and people to subscribe and they share profits. People would subscribe to XYZbot and only pay if it makes profits and they only pay a portion of profits. Of course, the XYZbot could lose money, but all the performance stats would be tracked so people will see historical performance. No profits, no payment, so the tradebot writers are fully incentivized to create profitable tradebots. Eventually there will be dozens of proven tradebots and like for the forex world, people can see how many subscribers each one has, how much the bankroll is, etc.’

SuperNET owns 241,485 Tradebots/NxtCoinsco.

NxtCoinsco dividends will flow through these and be dividended out to SuperNET investors.

NXTventure (asset ID 16212446818542881180) is an incubation fund that invests in and spins off other promising crypto assets. NXTventure pays dividends in the form of these assets, thereby giving investors a piece of the next big crypto asset.

James has recently announced that NXTventure and SuperNET will be releasing combined dividends. The NxtInspect dividend was an example of assets distributed to SuperNET holders through NXTventure.

Four more dividends have been pre-announced. Read more in SuperNET Newsletter #2.

There will not be a full overlap between the dividends offered by NXTventure and SuperNET.

SuperNET CORE: NXT

As you will know, a small number of coins make up the SuperNET core.

If BTCD is the highway that connects all the stores, entertainment centres, financial services and other features in SuperNET, then NXT is the 2.0 engine that allows users to access them all.

Rather than simply being a cryptocurrency, NXT can be considered a complete financial platform. The Nxt Asset Exchange, which is built into the client, allows users to issue, buy and sell shares in virtual or real-world companies, and receive dividends (NXT, other assets or even other currencies through Multigateway tokens for BTC and other coins). It’s the ‘coloured coins’ concept you may have heard about, but being dealt with in a very intuitive and user-friendly way.

To read more about the launch of the Asset Exchange and see a few use cases, see the NXT AE Special newsletter.

Nxt’s arbitrary messaging system (AM) is also used – and for more than just simple messaging (plain text or encrypted). For example, instructions are passed to the Multigateway using AMs. The Nxt Alias system allows accounts, websites, telephone numbers and more to be linked to a simple reference label; Hyperboria’s Meshnet project already makes use of this feature. The Nxt Marketplace (formerly known as Digital Goods Store or DGS) is a  decentralized NXT store that allows users to trade digital products directly through the NXT Client; whereas NXT Freemarket is the third-party application that reaches into the physical world, like a decentralised eBay. The Monetary System (MS) is scheduled for release later this month, and will allow the easy creation of customized digital currencies on top of the Nxt blockchain and backed by NXT.

These and other third-party services like neoDICE offer a wide range of functionality and open many possibilities for SuperNET. For a more comprehensive overview of Nxt, take a look at the NXT Technology Tree.

Development update

James is coding hard, and the features of SuperNET’s GUI are taking shape.
There is still plenty to do, but basic SuperNET functionality is now almost complete.
SuperNET development is on track, with initial release still scheduled for the end of the year.

James writes:

‘Finished all the GUI interface API for settings and general command flow, even start/stop so the GUI can stop and restart SuperNET. With a GUI to create the SuperNET.conf, it will be much, much easier. Also, this allows for a debug console, which will speed up testing, and building buttons and forms on top is just a matter of figuring out what buttons and forms we need.’

‘Most importantly all the telepod (money!) is using a berkeley DB so short of computer totally exploding, the data should be safe or at least recoverable. ]I am leaning toward automatically backing the telepods in the encrypted cloud so there are two copies.’

‘I split out the SuperNET into a separate executable for two main reasons. It makes it much easier to build as it doesn’t have to be built into BitcoinDarkd. With the boost, C++ vs C and all sorts of build complications on Windows, this reduces the problem to just building SuperNET on Windows. I already built SuperNET for Mac, but having problems with boost so can’t build BitcoinDarkd or QT on Mac yet. The second reason is that this allows other coins to also be in the system and the SuperNET requests are properly serialized through the https interface.’

‘If all goes well, by next weekend I think I will be doing the loose ends, but that means we will have nice core functionality as soon as GUI and OS builds are ready. So not a lot of external progress, but the internals are now split into two independent executables with mechanisms for master/slave type of setup, and other coins can just call into SuperNET directly. Now with DB reliable and reentrant, progress should be fast as that solves the reliable storage for money things like telepods, private messages, public cloud and also price data for tradebots.’

‘The new DB design made it so the old InstantDEX code was not quite right. I ended up rewriting it and most of it is gone! this is good as the less code, the less bugs. Still not fully debugged, but via DHT all orderbooks exist in the cloud.’

SuperNET demo

If anyone has doubts that development is progressing fast, anyone with minimal knowledge of linux can install the command line version and start playing with SuperNET. The installation instructions have been significantly simplified in recent weeks (full instructions and discussion available on the Slack boards). James provides these instructions:

###
git clone https://github.com/jl777/btcd

# Then you need to put your addresses in the demo SuperNET.conf and copy it to the libjl777 directory

cd btcd/libjl777

make onetime

./m_unix

Once SuperNET is running and the accounts are funded:

On computer A:

./BitcoinDarkd SuperNET ‘{“requestType”:”addcontact”,”handle”:”computerB”,”acct”:”<account for computerB>”}’

On computer B:

./BitcoinDarkd SuperNET ‘{“requestType”:”addcontact”,”handle”:”computerA”,”acct”:”<account for computerA>”}’

./BitcoinDarkd SuperNET ‘{“requestType”:”maketelepods”,”coin”:”BTCD”,”amount”:”.0001″}’

./BitcoinDarkd SuperNET ‘{“requestType”:”teleport”,”coin”:”BTCD”,”amount”:”.0001″,”contact”:”computerA”}’

Of course, this is still command line and it isn’t using the best practices as the maketelepods creates traceable telepods, but it is quite a lot of what needs to be working.

James
###

White paper

Finally, a draft white paper for Telepathy is available. Telepathy is the secure communication system that underpins BTCD and the SuperNET. It works similar to BitTorrent’s peer-to-peer network, with a few critical differences. ‘Dead drop’ addresses are used – locations in network space that are not owned by any peer. Since many peers handle a packet on its way to the dead drop, it becomes almost impossible to tell who it was originally meant for.

The white paper can be found at https://copy.com/x4mYj7Cy9tNtwwXg.

Please do read and comment. All feedback is welcome.

Your SuperNET needs you!

James is working hard on the code, and many other people have joined the Slack channels where a huge amount of discussion, feedback, marketing and development are happening. We have approaching 100 people on Slack, and over 10,000 messages weekly. However, the more people get involved the better – there are always gaps, and more eyes and pairs of hands will make things move faster. Just ask for an invite if you want to help.

James writes, ‘I keep coding away and making progress, but there is only so much I can do and it will take the help of the community to fully actualize SuperNET. In fact, once my low level work is done, then I really become much less important and that is my goal.

‘Next year I want to be the leading SuperNET applications creator. By making dozens (yes dozens) of SuperNET reference applications, I will demonstrate how to make money via SuperNET. Similar to what I did with the NXT AE. Instead of telling people via fancy graphics and press releases, I will just do it and let the market decide how much they like it.’

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 #2

Welcome to the second SuperNET Newsletter!

A week is a long time in cryptocurrency, and never has this been more true than for SuperNET. This last week has seen a flurry of activity, with a series of new companies and services being added to the project. Additionally, there have already been unexpected dividends, with several more now expected in the coming month. As a result, SuperNET is slowly but steadily gaining in price and looking forwards to a very bright future.

Topics

  • SuperNET & UNITY
  • Asset Dividends paid
    • NeoDICE
    • NXTinspect
  • Pre announced dividends
    • SNN
    • BOOST
    • 2 more TBA
  • Other assets and services
    • ATOMIC
    • Freemarket
    • CORE services
    • SuperHODL account
  • MyNXT.info
  • SuperTraders
  • Supernet.org
  • SuperNET logo
  • SuperNET Volunteers
  • SuperNET CORE coins
  • Development update
  • SuperNET related links

SuperNET & UNITY

SuperNET / UNITY can be traded on BTer, NXT Asset Exchange and now on Poloniex.

BTer has automatically exchanged all TOKEN for UNITY (the ticker symbol for SuperNET). No further action is required by assetholders. Also withdrawal of UNITY has now been enabled.

On the NXT Asset Exchange (AE), a manual process was created. Most TOKEN has now been exchanged for SuperNET, but if you have not done so already, you should redeem your TOKEN. TOKEN does not pay dividends and was only created to simplify the issue process for SuperNET.

To redeem your TOKEN on Nxt AE, transfer it to NXT-7Y5B-J8LQ-SL5P-3ULFL.
It will be exchanged for SuperNET. This is a manual process and will not take place instantly but within 24 hours, so please be patient.

Asset dividends paid

In an unexpected but welcome development, SuperNET has started paying dividends in the form of assets in new companies with which it has formed partnerships and acquired a stake.

neoDICE

The first dividend was neoDICE – a re-creation of the legendary blockchain betting game SatoshiDice, a Bitcoin-based game which achieved immense popularity but fell from favour when it began requiring confirmed rather than unconfirmed transactions, thereby delaying gameplay.

Like SatoshiDice, neoDICE uses a provably fair blockchain-based system but includes a solution to avoid the delays caused by requiring confirmations. It is hoped that this game will capture a significant proportion of SatoshiDice’s former market – but for NXT.

NeoDICE (Nxt asset id 18184274154437352348) should be in testing mode within a month and will pay dividends in NXT from its profits. 100 percent of neoDICE assets were distributed as follows:

5 percent SuperNET dividend
5 percent NXTventure dividend
5 percent jl777hodl
40 percent Privatebet
45 percent Developers & maintainers

For every hundred superNET, assetholders received 6.127 neoDICE.
Further details can be found here.

After the dividend distribution James notes:

NeoDICE traded as high as 62 NXT each before settling down to 40 NXT bid/50 NXT ask, so the dividend was worth 2.5 NXT to 3 NXT, which on ~200 NXT [SuperNET] price makes it a 1% to 1.5% dividend.

NXTinspect

The second “surprise-dividend” was NXTinspect.

NXTinspect is a community-driven initiative designed to provide investors with the necessary information to make informed trading decisions. ‘Our service looks to promote legitimate assets, while highlighting suspicious activity/scams.’

NXTinspect’s IPO offer was for 300,000 asset tokens, which is 30 percent of all NXTinspect assets. James bought 250,000 of them (25 percent of the total), using NXTventure funding. However, since NXTinspect will be auditing James’ assets, there is a clear conflict of interests here. James writes:

I invest in good people, and they are all good people. When I see good trades, I just automatically click, click, done. So I didn’t even think about the potential for looking like conflict of interest.

However, it seems there could be an appearance of conflict since I am involved in dozens of different projects.

I want to use NXTinspect services and clearly it won’t have much value if there is this appearance that I am having some sort of undue influence over them.

The upshot was this:

  • 5 percent to jl777hodl
  • 5 percent for SuperNET dividend
  • 5 percent for NXTventure dividend
  • 10 percent sold on NXT AE at 2.5 NXT each

As soon as the AE assets were sold, the dividends were processed. Sales on the AE would offset any losses to James from the dividends issued, so the process was broadly break even for him. After this, James holds no NXTinspect, other than the indirect gain of jl777hodl NAV and whatever goodwill SuperNET and NXTventure assets gain from this dividend. For more information, see hereDividend payout details can be found here.

Dividend distribution

The dividends were successfully distributed. Those with assets on BTer and Poloniex have received their dividends in their exchange accounts, and AE dividends have been issued directly to holders’ Nxt addresses.

As previously announced, investors who hold unredeemed TOKEN did not receive the dividend.

The leftover neoDICE assets were given to valarmg, in return for the work he has done in creating and running the redemption and dividending scripts. These unclaimed neoDICE assets equalled around 1,500 or 3 percent of total dividend payout.

Pre-ANN asset dividends

A new series of assets and dividends are already in the pipeline and will hopefully be released by the end of October. These are:

SNN (SuperNET News Network), asset ID 15113552914305929842. SNN is planned to be ‘the SuperNET of crypto news: a ‘community owned and operated media outlet, with stories and content written by a wide range of contributors about crypto technologies and markets.’ 75 percent of SNN revenues will be distributed to assetholders. Revenue sources include advertising, subscriptions and pay-per-view, and ‘since this follows a more normal web inventory, it will allow the establishing of ad sales prior to having the SuperNET GUI monetized with ads.’

BOOST (asset ID 9719950459730291994) is a startup incubator that provides zero-interest loans for new NXT companies and will have close links with NXTventure, both in funding and adopting new companies. It will act as a conduit for small companies that want to become a qualified NXTventure listing.

Two further assets are on the way. One is described by James as ‘pretty normal, except it is building on top of an existing asset to help it reach a rather large market.’ The second, however, is ‘a new type of asset… This will create a new way to solve a common problem in the crypto world and I am happy to be involved in this asset.’

These are all exciting new developments and highlight the activity that is going on. These four dividends could be issued in October – though as ever, there are no guarantees of timescales and dividends will be announced as they happen. Investors are encouraged to do their own due diligence before purchasing further assets.

Combined dividends

NXTventure and SuperNET will be releasing combined dividends.

NXTventure has proved a highly popular asset. Its purpose is to fund promising new enterprises in return for a proportion of their assets. These are dividended out to NXTventure shareholders.

Whilst this will reduce the number of shares dividended out by NXTventure due to sharing with SuperNET, the publicity and funding of SuperNET will on the other hand bring a much greater number of companies into the space. There will not be a full overlap between the dividends offered by NXTventure and SuperNET. As James puts it:

There will probably be 4x more assets in the pipeline. (….) I expect that NXTventure will have some smaller assets that will be dividended that won’t have a SuperNET counterpart. There will also be some special assets that would only be SuperNET dividends.

Other SuperNET assets and services

ATOMIC

ATOMIC (asset ID 11694807213441909013) is a new service designed to enable 100% decentralized trading for all coins and assets on a single blockchain. It will be integrated into the core of SuperNET.

  • 100% transparent and public ledger backed exchanges across blockchains (trading of any asset or any coin)
  • Transactions from one blockchain to another will be as fast, if not significantly faster than any existing centralized method of exchange.
  • The ability to spend any coin, anywhere (ex: ATOMIC will allow users to spend NXT at a store which only accepts payments to a BTC wallet) without having to wait for a deposit, confirmations, exchange, withdrawal, more confirmations and then finally spend the coins.

ATOMIC will take the form of a DAC (Decentralised Autonomous Corporation). It will be open source and run transparently, with direct community involvement. ‘Once a critical mass has been reached it will become a full DAC with no central points of failure, agenda, laws or anything else that could slow it down. Initial versions will probably not be a fully automated DAC’.

Read the documentation here.
You can find out more about ATOMIC in the announcement thread on bitcointalk.
ATOMIC is listed on coinmarketcap.com. ATOMIC official website: http://atomicdac.org.

James writes:

The fees on the ATOMIC network will serve to reward both the miners and asset holders. The standard transaction fees required by blockchain technology will be rewarded directly to the miners.

The asset holders will receive dividends in the form of the accumulation of non-Atom transaction fees. For example if user A with Bitcoin wants to send money to user B who only wants Litecoin, user A will pay a tiny fee in Bitcoin to a special address that will initiate the exchange. Due to the nature of the ATOMIC network, the exchange requires that the user also have enough Atoms in their wallet to cover the transaction fee to the miners.

This process gives the power to set the price of Atoms to the nodes on the network while also rewarding asset holders directly with fees collected by the exchange process.

Freemarket

Freemarket (asset ID 134138275353332190) is a decentralized physical goods store (similar to a decentralised eBay). 20% of FreeMarket listing fees (7.77 NXT) will go to SuperNET, counting from 2015. Freemarket will have no fees for the rest of 2014, other than the the 1 NXT listing fee and 1 NXT confirmation fee. Freemarket will be released on October 12.

Some advantages over options like eBay:

  • No need to register and give up any personal information
  • No third-party payment processor
  • Fees are low; No fee in 2014, thereafter a listing fee set at 7.77 NXT, about 10 NXT once you include fees for NXT AMs
  • The NXT blockchain makes FreeMarket resistant to takedown
  • No centralized servers anywhere; FreeMarket does not require centralized administration
  • Allows for unlimited, buyer-selectable shipping options, each with a separate fee
  • Messages between buyer and seller, as well as shipping address and shipping method, are encrypted
  • Items can be searched by category and up to 3 optional tags, as well as item title, seller ID, and item ID
  • Sellers have the option of accepting or rejecting a sale
  • Listings can be canceled

This is just the first version. Additional information can be found in the ANN thread.
Freemarket is listed on BTer and on coinmarketcap.com. Official website: Nxtfreemarket.com.

In addition to these new arrivals, the SuperNET core will contain:

Teleport. The privacy technology that underpins BitcoinDark (BTCD).

InstantDEX enables near real-time trading between cryptocurrencies.

Tradebots (NXTcoinsco) enables the creation of custom decentralized tradebots.

SuperNET card will support anonymous withdrawal of NXT and other SuperNET coins.
This is due for launch by Coinomat in the coming weeks.

NXTprivacy holds a series of privacy-related assets, including 50 percent of PrivateBet.

PrivateBet will be designed to support P2P betting and casino games. PrivateBet owns 40 percent of neoDICE.

neoDICE is similar to that of the legendary satoshiDice, with a few differences, the most important one been the near realtime processing of the wagers. Beta testing starts mid October.

Sharkfund0 is a trading fund that aggressively targets high-performing assets.

Targeted advertising similar to Google’s AdWords will allow website administrators to serve adverts directly to the cryptocurrency community, with revenue being returned to SuperNET participants.

You can read additional information about the above services in the SuperNET ICO document.

SuperHODL

To keep track of the SuperNET assets holdings, a new account and asset has been created. SuperHODL: asset no. 13120737659249432970, account NXT-USU4-92UY-KEYT-4H649. This is simply an accounting convenience to segregate authorised but non-disbursed funds.

‘SuperHODL is a 100% owned subsidiary of SuperNET and is really just a way to keep things separated. Maybe down the road some of it would be put on the market, but no plans for that now.’

MyNXT.info

As was announced in last week’s newsletter, SuperNET is investing in an online wallet site. Now that funding has been agreed, further details can be given. James writes:

SuperNET invested in mynxt.info, a long time NXT company with online wallet, mobile app, block explorer, etc. Over the coming months mynxt will be working on integrating their services into the SuperNET GUI.

This is a very promising move for SuperNET, since a significant proportion of users prefers to use a web wallet than a downloadable client.

SuperTraders

With the end of the ICO, the SuperTraders are now active. SuperTraders are a team of cryptocurrency traders with a proven track-record of returns. Their aim is to increase SuperNET’s NAV through trading on different exchanges. (In other words, their activity is predominantly intended to increase the value of the SuperNET asset directly, rather than to generate dividends.)

The SuperTraders receive a maximum of 10 percent of SuperNET’s working capital, or around 570 BTC. Their capital will be awarded incrementally as they increase their own bankrolls through successful trading, thereby increasing confidence and limiting downside risk. Each time they increase their bankroll by 50 percent, SuperNET also increase their available funds by 50 percent. The aim is to allocate the largest bankroll to the SuperTrader with the largest and most consistent gains.

Supernet.org

We managed to get the domain supernet.org!

SuperNET logo

The logo is created by ‘ether’.

The color scheme has been voted on, and the final version is:

SuperNET_logo

Coming soon:

  1. Different background styles (faded symbol, galaxy sucking-all-FIAT shape, etc.)
  2. HD Wallpapers
  3. Twitter/Facebook official account themes
  4. Badges for forum members and other goodies (this one will be on request)

SuperNET Volunteers

Feel free to join the community on forum.thesupernet.org.

If you would like to help SuperNET, please fill out this short questionnaire:
https://docs.google.com/forms/d/1T1U96Rxb4Q92vSRzh-HshEOyTQWtbfhXITdOliooqIk/viewform

SuperNET CORE coins

Here’s a summary of the SuperNET’s official core coins: NXTBTCD and BBR.

Any addition of new core coins will be announced in this newsletter and on SuperNET forum.
Coin representatives can send applications to join SuperNET CORE to coins@thesupernet.org.

NXT is the ‘2.0’ cryptocurrency that powers much of SuperNET’s backend crypto functionality. The asset exchange, Multigateway (for distributed crypto trading), alias system, even the GUI behind the new wallet – all of these are built on the ‘NXT Inside’ approach. As the leader in these 2.0 features and services, NXT is the natural choice for SuperNET. It makes perfect sense to leverage this functionality whilst rewarding the NXT community for their continued support and further development of the key tech.

BitcoinDark (BTCD) brings Teleport to the SuperNET table. At its very simplest, Teleport is the anonymity protocol that underpins BTCD. However, it offers far more than privacy. Teleport is a complete ecosystem for making anonymous cryptocurrency transactions, right down to the level of hiding users’ IP addresses from attackers.

Teleport uses one-time addresses called telepods to transfer standard denominations of funds (100, 50, 10, 5, 1 etc) to a new recipient. The use of fixed amounts avoids correlating sender and recipient if the quantity is distinctive (a transfer of $500 would currently be 129.19896640 BTCD, which would be instantly recognisable). Several other tricks such as random delays will make it almost impossible to correlate transactions on the blockchain.

The network of privacyServers will not only shield users from prying eyes, but will form the communication infrastructure for SuperNET – enabling them to exchange information of all kinds securely and anonymously. You can read more about Teleport in this article on NXTER.org.

James has announced a 1000 BTCD bounty (https://forum.thesupernet.org/index.php?topic=76.msg337#msg337) to anynone who can attack and deanonymize Teleport.

Teleport is currently nearing beta-testing. It will permanently be available for free to BTCD, and will initially be free for other cryptocurrencies. From 2015 it will begin to charge small fees for non-SuperNET coin transactions. Bitcoin alone opens a potential market over a thousand times larger than BTCD’s own current market cap.

Boolberry (BBR) offers additional anonymising features to provide an extra layer of privacy. Boolberry is based on CryptoNote, an implementation of ring signatures. Ring signatures provide a good level of privacy but generally do so at the expense of blockchain bloat. This raises questions about the long-term sustainability and user-friendliness of CryptoNote coins. Additionally, there are circumstances under which anonymity may be lost, but Boolberry’s lead dev has come up with an innovative way of avoiding this problem, as well as reducing bloat. You can find out more on the bitcointalk BBR thread.

Development updates

The CORE technology for SuperNET is nearing beta and is currently being tested with about a dozen live servers. ‘While it is not working perfectly, the bugs found so far do not seem so serious. As soon as the low level networking is solid, it will be possible to complete the higher level applications like Teleport, Tradebots, etc. Also, the API can be opened up for other coins to use and to implement their own special features.’, James writes – and continues:

I finished debugging all the DHT calls. Ended up adding data compression to the loop, along with out of band binary data beyond the JSON in the onion packets. Also, a lot more difficult that I thought it would be, but finally got all packets to be the same size, thus removing a leak of info about the type of commands you are sending.

I implemented a variant of http://www.cs.rice.edu/Conferences/IPTPS02/109.pdf, using 64bit NXT addresses for the hash, eg. least significant 64bits of sha256. collision resolution is something for a layer above this level to do. I plan to add some simple file API on top of this so we can get a nice decentralized storage along with sending of files.

Of course all this is under heavy encryption, but still the IP addresses are not shielded yet. The sendmessage API appears to be working in simple topologies, should work with more layers, but need a larger network to test this.

./BitcoinDarkd SuperNET ‘{“requestType”:”sendmessage”,”dest”:”<nxtaddress>,”msg”:”<text of message>”,”L”:<maxonionlayers>}’

Using the sendmessage api, it should be pretty easy to make an encrypted chat application.

I have a dozen other API calls already done and they worked in loopback mode, so I hope before long we can get a nice set of API functions released and tested.

Multigateway

James:

I ported the MGW code into SuperNET API so to add a bitcoin compatible coin is as follows:

{“name”:”BTC”,”conf”:”/home/ubuntu3/.bitcoin/bitcoin.conf”,”asset”:”4551058913252105307″,”rpc”:”127.0.0.1:8332″,”clonesmear”:1,”minconfirms”:3,”estblocktime”:600}

Once such an entry is in the .conf file the SuperNET code can access a coin and do whatever logic the application layer (like Teleport) will use. More a matter of testing than developing.

For non-bitcoin compatible coins, some glue code will need to be created to implement the functions that the SuperNET applications will require. Still compared to the total work, it is a small fraction, so basically any coin can be supported with some interface work.

There comes a time when a project needs to stand on its own two feet and not rely on its founder anymore. For MGW, that time is now. it will work much better when all of MGW is NOT centralized through me. I am running all three MGW servers, which is not its design. It also means three times the work to keep them up to date, synchronized, etc. There have been production servers “almost ready” for over two months now and I have to hand off the MGW.

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

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.

Meet James

This article is the second in the ON TOP OF NXT series. Part 1: What is Nxt building 

Come-from-Beyond:

Nxt is more a platform than just a currency and this is not coz its technical implementation allows to easily add new features. “Platform” should be read as “stepping stone” to changes in the global society.
So, to make it clear, BCNext’s goal was to create something intermediate, a bridge to the next stage of human society progress. For the others Nxt may, of coz, have another purpose…

Meet James

jl777

Jl777 is known as a visionary and hard working 3rd party developer of projects that run on the Nxt platform; more recently he became the core developer of Bitcoindark (BTCD). An active Nxter in the Nxt Community since December 2013, his first innovation to go into BETA operation was the Nxt Multigateway, an “almost” decentralized crypto exchange and currently #64 on coinmarketcap. He’s also the issuer of various well-performing assets on the Nxt Asset Exchange (AE) – most of them connected to the wide array of projects that he is currently programming on top of Nxt.

Jl777 (or “James” as he signs his posts) is an innovative spirit whose constant flow of ideas can often be hard for others to keep up with, especially given his prodigious work rate and the fact that, engaging as he does with anyone wanting to debate his ideas and his work-in-progress, his posts appear all over the place in various forum threads.

James answers questions, adds a few new ideas, sleeps on them and the next day, lightning having struck, may just happen to announce another new feature for the project under discussion.

And with projects like NxtPrivacy, Privatebet, NXTServices, NxtInside, Teleport, InstantDEX, Tradebots, jl777HODL (to mention just some), there’s lots of scope for followers of James’ work to engage him in debate, thereby helping to drive the projects’ evolution.

Read more about jl777’s assets

Wholly original, self-contained thoughts are rare, think of Einstein’s theory of relativity or Darwin’s theory of natural selection. Instead, innovation more usually consists of new combinations of already existing ideas. James is aware of this and admits it bluntly.

jl777

My idea is to treat Nxt like OS/CPU for computers. Let other coins get the branding and Nxt is under the hood doing its thing. To make this more than just a great idea, I spice it up with revenue sharing from the business each node generates, so not only do they get the 2.0 crypto features, they get extra money.

Crypto needs to work together without reinventing stuff that already exists. fiat is the enemy, not other crypto.

Think back to before the IBM PC. Reading the history, there were dozens or maybe more different OS, but each was incompatible, isolated. Very similar to crypto today. They are all doing pretty much the same things (gen1 coins I am talking about), but they are not compatible at all. Using this OS analogy, it is like skipping past the stage where DOS took over the market and straight to Windows type of graphical interface and uniting all computers (gen1 cryptos) under a same OS. Different computers put a different graphics, so you get Compaq desktop, Dell whatnot, etc.

So why start this ON TOP OF NXT series with an article about James? What has he to do with the question of Nxt being a coin or a token, about BCNext and building services? A few weeks ago, James made a paradigm-shifting announcement, one that is currently shaking the crypto world to its very core.

James announced that he wanted Nxt to be used by other cryptocoins, not via exchanges, but by bundling the coins with Nxt, the platform, and thereby adding Nxt’s 2.0 core features to the 1.0 coins themselves. Sounds far out? It’s a different take on the thoughts of BCNext, which veteran Nxters should be familiar with.

BCNext (through Come-from-Beyond):

NXTs r not coins, at least the creator of Nxt didn’t want them to be coins. They r tokens that grant privileges to support Nxt. (…)

BCNext understands that this is very arguable, the community should decide if it wants to follow the path showed by him or stick to Bitcoin legacy with unchangeable supply of coins in hope to become rich by doing nothing.

Nxt Inside

jl777:

Nxt Inside is something I am reaching out to other coins to do. Each new coin with Nxt Inside is a totally new community that instantly becomes NXT users. Their coin gets the advantage of all the NXT 2.0 features, NXT gets more nodes and users for AE, Marketplace, InstantDEX, etc.

The first step is to get the coin traded in MGW, then there is a direct reason for them to want reskinned NXT GUI. Maybe they strip out everything but the AE for their coin, or maybe they keep all of NXT.
Now people are hesitant to be the first, so I make BTCD do this as example and then other coins will copy, especially if BTCD does well.

BTCD

BTCD is an altcoin that’s going to enable trustless private transactions via a Teleport-code.
You can read more about the coin here: https://bitcointalk.org/index.php?topic=684090.0

NxtInside allows it to integrate Nxt features as well. The following features will be integrated:

  • MultiGateway (MGW) – allows you to move cryptocurrencies in and out of the NXT Asset Exchange.
  • Nxt Asset Exchange – any asset can be traded peer to peer without the need for a centralized third party.
  • InstantDEX – is to provide a fully decentralized peer-to-peer realtime trustless trading environment.
  • Privatebet – will allow people to make bets directly with each other in a decentralized way. Built on top of Nxt.

jl777:

NXT will be bundled with every BTCD node. It will be the same NXT AE, the same NXT marketplace, the same NXT InstantDEX, Tradebots, Privatebet and generating NXT fees, users, nodes, etc.

And the user experience for BTCD’ers?

jl777:

They [The users] might not even know it is NXT (though anybody who looks will find out), it is like the “Intel Inside” of Apple computer. The Apple computer is the brand, the Intel Inside is the CPU. The BTCD is the brand, the Nxt Inside is the thing that powers the 2.0 crypto features. BTCD will have a normal bitcoin QT. In it there will be a button that launches a web browser, which goes to a reskinned NXT GUI.

You have to realize that in the land of bitcoin clones, the QT wallet is all they have. All this new stuff is totally new and to go from bitcoinQT to current [Nxt] web GUI is quite a culture shock, but the nearly universal reaction is, “wow I never knew NXT was so cool!”

NXT is a platform more than a coin, it needs to go inside other coins. Why should people spend time cloning or recreating NXT? This does not help NXT and the result is sad things like NAS, NTX, etc. Why not combine forces instead of dilute them. Make a DOGE 2.0 where they plug into supernetwork and have AE, Marketplace, etc.?

This basic mechanism will be offered to other coins also, who will also then become part of the supernetwork.

Nxt inside other coins…

Like that, Nxt Inside can provide 2.0 features to any coin on the market.

jl777:

It makes perfect sense to have a reskinned NXT GUI, just so they can directly trade their coin. Now why would they go out of their way to remove all the other features? See, Nxt Inside and everybody is happy. New coin gets an exchange they don’t have to bribe to get listed, no fees to trade, and they get lots more 2.0.

NXt Inside would have been achievement enough for most, but even before most of the Nxt Community really understood the impact that NxtInside *could* have on Nxt, a call for unity among crypto coins through a network called SuperNET was posted in the bitcointalk forum. By James.

[ANN] SuperNET

jl777:

This is the network that will be created by joining all the participating coins into a single unified network. Each coin will of course continue to operate normally, but there will be an option to use any of the services that are available in the Supernetwork. Each coin that joins the network makes it bigger and also adds its unique tech that is then crossmarketed to all the other nodes.

I am estimating 100,000+ nodes are achievable and the best part is that it is clearly not a zerosum economy at all. The more coins, the more transactions, the more revenues. Just from InstantDEX alone, the expected revenues are significant as even with a smaller than centralized exchange fee of 0.1%, the fact that 100,000+ are able to directly exchange their crypto in near realtime assures a stable revenue stream.

The coins that are added will each have to pass some threshold of value that they add to the Supernetwork and also the community needs to be a positive cooperation based mentality. The zerosum dog-eat-dog competitive world is probably needed in mature fiat world, but it has no place in crypto. We need to join together to create a giant Supernetwork that will be a magnet to pull as much fiat into crypto as possible.

Read more about the SuperNET ICO
Visit the SuperNET announcement thread

Interested coin representatives can send their application to: coins@thesupernet.org

What James is in the process of doing is something Bitcoin can’t offer. True innovation is often found in the altcoin world, but altcoin developers struggle to survive and their communities fight each over small market shares in a crypto market where BTC is king. Bitcoin core developers are well-known for turning down services that want to utilize the bitcoin blockchain, dismissing them as “blockchain spam”. James on the other hand welcomes them, and offers SuperNET as a way to connect and unite all the best altcoin innovations while at the same helping everyone to make a profit.

jl777:

Assuming we succeed over half the top 50 will have NXT in some form.

To make this more than just a great idea, I spice it up with revenue sharing from the business each node generates, so not only do they get the 2.0 crypto features they get extra money. Crypto needs to work together without reinventing stuff that already exists. Fiat is the enemy, not other crypto.

Any crypto coin, in fact any website or software, will be able to connect to the SuperNET API and to all other people connected to it. Because every user will run a node it’ll be impossible to lock down. It’s like a decentralized internet for cryptos, offering its users the benefits of any innovative coin and service in the core, and of course the platform itself – Nxt.

jl777:

to use NXT AE, you need NXT
to buy NXT assets, you need NXT
to use NXT marketplace, you need NXT
all this creates more NXT transactions, fees, nodes, users, etc.

This is also the sort of thing BCNext had in his plan, at least I believe it follows the spirit of his plan even if some details have been changed.

With the scope of SuperNET, I cannot imagine that I will be making any such giant offering again. I dont count the joint venture assets I will make to help the competent devs make their fortunes. I am talking about an offering that raised more in its first hour than Etherium’s first hour. During a weekend, within a week after its initial announcement, based only on text and no fancy graphics or meetups or any marketing.

James has his work cut out for the rest of 2014. He likes to emphasize that he’s a simple c programmer but he’s also an original thinker, passionate and hard working, and during the 9 months that James has been building services on top of Nxt, he has managed to gain so much trust from the Nxt community that it overrides the fact that he’s “anonymous”, that his real life identity is unknown to anyone. The SuperNET project collected over 2000 BTC or almost $1 million in the first 48 hrs, and it’s still running.

[UPDATE]: The SuperNET ICO has ended. SuperNET now trades on Nxt AE (asset ID 12071612744977229797), on Poloniex and on BTer (ticker symbol UNITY).

You can hear Adam B. Levine read an edited conversation with James here (starts 39:40):

https://soundcloud.com/legendface66/beyond-bitcoin-13-one-to-rule-them-all#t=39:40

jl777

I really dont want the SuperNET to be about me. I am just starting it, the community is forming it.
so lets not encourage the “hero worship” stuff
i am no hero

I am just a simple C programmer

James

 

Stay updated.
Weekly SuperNET updates here: http://test.nxter.org/category/supernet-newsletters/

Cassius explains SuperNET:

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

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.