SuperNET Newsletter #11

Welcome to the SuperNET!

This newsletter is (should have been) shorter than usual, with the holidays getting in the way. Still, of course, there are some exciting developments…


  • v1 client
  • JLH – The Lottery
    • – more on JLH
  • The jl777 Bonus
  • Opal client
    • OPALTKN dividend sent
  • VPN SuperNET client
    • MGWcoin asset dividend?
  • FinHive
  • Pangea
  • Freemarket bounty
  • SuperNET Bug Rewards
  • Development Update
    • 95% done
    • The MGW bridge
    • And so it begins…
  • Community and marketing
  • Happy New Year
  • SuperNET related links

v1 client

The SuperNET v1 client is nearing BETA release. ETA is January 2015.

v1 is a huge undertaking, with some 50+ API calls (and growing) to be integrated. Since it is unrealistic to release them all at the same time, there will be varying levels of ‘ready’ – coded, tested, GUI-integrated, fully documented, and so on.

James hopes to be mostly done with coding core functions by the end of the year, but this all depends on coverage of regression tests, unit tests and results of testing. Get involved in testing if you can! Contact Azeh for more details.

Eth explains, ‘the dev team has been working really hard through this holiday time in order to release the beta version 1 of the client before the year ends.’

‘It will be improved on a weekly base – Meaning every week we will release a new version with noticeable improvements based on intensive testing and the feedback from SuperNET community.’

‘We aim to cater a wide audience, therefore the basic GUI module is very intuitive and simple. Anyone that is not used to deal with crypto will be able to use it with a minimal learning curve. For those veteran crypto users, we have an advanced version based on the NXT NRS dashboard that will ensure access to deeper control and analytics.’


A lottery has been announced. For each 100 jl777hodl bought from the NXT-PY3K-SDTG-PHTV-GLYDA account sell wall on NXTAE, 1 lottery ticket is issued.

JLH has asset ID 6932037131189568014. Only assets bought from the GLYDA account are eligible.

Prizes will be paid to 3 holders: 100,000 NXT for 1st prize, 50,000 NXT for 2nd and 25,000 NXT for 3rd. Anybody has the same chance per 100 JLH, whether they buy 100 or 10,000 assets. The lottery will include historic purchases (from GLYDA), with the eligibility period stretching from November 1 to December 31.

James writes, ‘With the fiat value of 100 JLH being around $6, it is a pretty good payout ratio for the 100,000 NXT prize and everyone is basically getting three tickets per 100 JLH! This is because you can win all three prizes with just one batch of 100 JLH.’

Winning tickets will be randomly selected via the SHA256 of a random phrase selected early in the process. Based on James’ Telepathy protocol calculation, the closest buyer’s txid will receive 1st prize, and so on. Ties will share the prize for the place won. Prizes will be award during the first week of 2015. Measures have been taken to avoid gaming the system, and if you sell from your GLYDA batch, you will lose your tickets.

There are currently JLH shares for sale at a lower price than the GLYDA sell wall, so be sure to buy from NXT-PY3K-SDTG-PHTV-GLYDA if you want a ticket to the lottery.

More on JLH…

As announced in the previous newsletter, JLH will be the reference asset for InstantDEX asset trades.

A new JLH newsletter will focus on the JLH asset. You can read an introduction to the asset, the team and the JLH market making here: http://test.nxter.org/jlh-jl777hodl-description-and-introduction/

Also, libertynow writes: ‘There will be monthly bonuses starting in January. After the massive dividend lottery the monthly bonuses will be for all shareholders and will come from NXT dividends of underlying assets.’

The jl777 Bonus

As part of the ICO process, two bonuses were agreed for James via a vote. These were designed to reflect the time, expertise and assets that he put into SuperNET. If the market cap of SuperNET tripled before the end of 2014, James would receive a 5% bonus 40,803 UNITY). If it went ten-fold by the end of 2015, he would receive a further 5%.

Despite an impressive run-up, the wider crypto bear market means it is unlikely that the UNITY price will reach the required threshold for the bonus to be paid (0.0234; for current UNITY price see http://coinmarketcap.com/assets/#BTC).

However, if the threshold is reached, James has said he will share the UNITY amongst those who are most active in making SuperNET what it is and will be:

### My calculation shows 0.0234 as the threshold and really, not much chance of this happening at this point so no sense in getting all worked up about it.

However on the off chance that it happens, I would like to share the bonus with everyone that has helped SuperNET to get to where it is. There are 300+ people in the SuperNET slack now, a large number of them working really hard and while I was critical to get the SuperNET started, already I am becoming a small part of the big picture.

In the unlikely event the 0.234 threshold is hit, I am giving it out as holiday bonus to the SuperNET contributors.

The allocation will use a decentralized process. First round of voting to determine each person’s “weight” and then a second round where each person allocates the portion of the bonus (calculated by their weight) to 3 to 5 people. The process itself will be finalized via community consensus, or lacking that even another vote to determine what method to use to do the allocation. I do not want to do any arbitrary bonusing as with 300 people in the slack now I dont know the exact level of contribution from most of them as I am spending most of my time coding and answering questions. I am not a micromanager.

So investors should be happy that the key contributors as determined by the community will be getting the largest bonuses

I believe this makes for a happy community, which in turn will create a better SuperNET.

If a tripling of the SuperNET market cap is NOT achieved by the end of 2015, the 5% bonus will NOT be paid out but become a part of the SuperNET working capital.

You can read more about the rules, the bonuses and the asset holders’ vote in the SuperNET Newsletter #1 (ICO summary): http://test.nxter.org/supernet-newsletter-1/

Opal client screenshot


OPALTKN dividend sent

3 million OPALTKN have been dividended out – half to NXTventure holders, half to SuperNET holders.
This is in addition to the previous OPALTKN giveaway, as mentioned in the SuperNET Newsletter #10.

SuperNET added to VPN coin wallet

SuperNET has been integrated into VPN’s wallet.
Read further at https://bitcointalk.org/index.php?topic=789961.msg9888667#msg9888667

MGWcoin asset dividend?

James has announced another possible dividend – of mgwVPN – the exact date is to be decided.

The mgwVPN dividend is a completely new type of SuperNET dividend as it will take the form of a MGW asset. ‘That will be a first for an mgw-based dividend and allows distributing a crypto to people who don’t even have the wallet for that crypto.’


FinHive has a new logo, created by eth – you can read more here: http://finhive.com/fh_devmon.html


Pangea has been listed on coinmarketcap. It is currently number 9 in the asset list: http://coinmarketcap.com/assets/

You can find out more about Pangea on YouTube:
and https://www.youtube.com/watch?v=rULrkZFuBBE

Release is still some months away, but testers will be required in due course.

Freemarket app bounty

blackyblack is offering a reward for anyone willing to implement a Freemarket plug-in using MyNXT.info’s system. ‘This task requires a modification of FreeMarket UI or building it from scratch like it was made on the freemarketlite. It also requires a hosting for FM core since mynxt.info does not use 3rd party software on their servers. This task is very similar to freemarketlite.com service. Hosting expenses will be paid by Freemarket funds.’

Contact blackyblack via Slack or PM if you are able to help. The reward is 2,000 Freemarket shares.

SuperNET bug rewards

Finding bugs in the SuperNET API is a critical part of ensuring it is robust and ready for release. There are rewards for successful bughunters. Previously, a set number of UNITY have been shared amongst bugfinders. From next week, this will be changing to a points system. ‘At the end of the week each participant’s points will be divided by the total points for the week and based on this will receive their percentage share of the weekly pot.’ Major bugs win 10 points, medium ones 3 points and small ones, 1 point. The total pot of rewards is as follows:

Week 1 (12/2-12/8): 100 Unity
Week 2 (12/9-12/15):150 Unity
Week 3 (12/16-12/22): 200 Unity
Week 4 (12/23-12/29): 250 Unity
Week 5 (12/30-1/5): 300 Unity

If you want to participate, please contact Azeh.

Week 3 Completed

Payout: CryptoSleuth 89.65 Unity; Lemonhead 68.97 Unity; Youyou 41.38 Unity

Development update

95% done

SuperNET core functionality is nearing completion! James writes, ‘95% of the core is finished. Debugging is the main thing left.

‘Finally got the DB MGW to sync using SuperNET API and get consensus and calculate all tx it needs to do in a few minutes runtime. So now it is a matter of debugging the bridgenode, and some interface stuff like realtime deposit addresses. Then all the coins can become mgw coins and this will allow for all sorts of magic…

‘With 40,000+ lines of new code… design review is in progress, some people are informally looking at the code, GUI is coming along… so like a turtle things proceed forward, and this is with several weeks delay from doing the DB MGW this month.

‘Next is InstantDEX and MMatrix. I will get the autoconvert working via MMatrix. It won’t be full InstantDEX, but it is what is needed first. Then as that goes into the long test cycle, I complete the InstantDEX, then the Teleport, then the Tradebots.’

‘It’s quite tricky to get the MGW, InstantDEX, Tradebots, Teleport and Telepathy all working simultaneously. So the final connections, debugging, debugging and more debugging. But now we have more API testers this will be quite helpful, especially automated tests.’

The MGW bridge

James writes,

‘I have pushed new versions to the dev MGW servers and the bridge for mgwBTCD. I have tested realtime deposit address generation, deposit recognition, deposit triggering an asset transfer (and publishing pubkey), withdraws being detected and also withdraws being processed when all three servers are in total agreement. ‘

‘The bridge is now bidirectional, there is an HTML backup, realtime address generation is ~10 seconds, realtime status is ~10 to 30 seconds.’

And so it begins…

Last comment today, before ‘will be resting’:

‘I deployed a fully automated on-demand DB MGW for BTCD. It will generate a multisig deposit address in realtime and you wont need any NXT to bootstrap an account as the first MGW deposit will be partially converted to NXT as it sets your pubkey.’

‘By sending at least 0.1 BTCD to the deposit address, it will fund your account at 100:1 ratio with a 2 NXT fee to cover tx costs. if you change the “convertNXT” field from 10 down to 2, then it will only use 0.04 BTCD. Min deposit is 0.05.’

‘When the servers see that there are pending deposits or withdraws and all three are in agreement, it will get processed.  This is 4000 lines of “new” code, it used to be closer to 10,000 lines, but I streamlined it and rewrote most of it this month. The big improvements are speed and ability to get status. It is also a specific use-case for a SuperNET application.’

Community and marketing

Although James has been pivotal in the creation of SuperNET, it is his aspiration to be able to step back from this ‘central’ role once the main tech has been completed.

‘Now, what people tend to do is put the entire SuperNET into the “jl777” category. While it is true I started it, I have always said I am just the guy who gets the ball rolling and the community is what will create the SuperNET. Back when the community was 10 people, maybe this was something people didn’t put much value in, but look at the number of people, up to 300+. That is a LOT of people and I am seeing wonderful things! There is a spirit of cooperation between all the coins. I had a vision about this and it is happening like I saw, but I never realized the timescale. I thought I was seeing something many months ahead, but it has been really several weeks from when things started going crazy. This bear market is quite a torture, but in a way it is making people realize the stability of SuperNET – that it is a safe haven.’

There is a pervasive ‘zero-sum’ mentality in crypto: that in order for one coin to succeed, others have to fail. One of the reasons SuperNET was created was to address this. ‘The SuperNET concept is a filter that makes the zerosum people reject it, so we get the people who believe that cooperation is the key. As it grows, people who believe in dog-eat-dog will start to want to join as it will give them a competitive advantage over others… hopefully the SuperNET spirit will be able to overcome their tendencies. We have so much to build and it will be hard enough with perfect efficiency. Except we are pretty picky about who can join, and a lot of the rejects went and tried to make a clone…

‘Once the SuperNET is fully functional, the all the spiral arms of the galaxy can be (will be) put in place automatically by everyone that uses it. This is what I saw too, but 99% of this is not me at all.

‘On the financing side people are realizing they get a lot more than 2x the value by joining with SuperNET, so this is a very good way to add services and a good way for service companies to be able to just develop the tech. Since most of the cost of a new business is customer acquisition, this part is a big short cut. When the SuperNET starts spitting out the dividends, this is when the really crazy gravitational force things will happen.

‘So, as you can see, all the crazy fantastic things I wrote about the SuperNET are coming true, one by one. Soon it will be time to actually marketing this. I do have some experience in that field, but for now gotta finish the tech… premature marketing is not a good thing.’

‘Happy holidays peoples! things are really coming together! once we get the multiwallet++, then getting the InstantDEX and Teleport hooked up will be next, but even without that the v1 release will be quite cool.’

Happy New Year!

A very big thank you goes to James, and to everyone working so hard to make SuperNET such a ground-breaking force in cryptocurrency.
Wishing you had a very Merry Christmas and looking forward to an exciting 2015,

The SuperNET team

SuperNET related links

SuperNET Slack web-based IRC client: http://irc.lc/freenode/supernet/

Almost all slack channels are linked with irc channels, which can be joined via an IRC client or web-client at http://chat.supernet.org. The channel list is there as well.

5000bitcoins managed to get the SuperNET ANN thread on BitcoinTalk back into the ANN section.   This gives SuperNET a publicity boost, and may have contributed to the recent price bump. https://bitcointalk.org/index.php?topic=762346.0

+ the usual… See recent newsletters:
or… http://www.supernet.org/en/news/newsletter
or… https://bitcointalk.org/index.php?topic=830942.0

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

SuperNET Newsletter #9

Welcome to SuperNET!


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.


  • 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, 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 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.


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


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 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.


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.


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\”:
\”\”}”]  }’ -H ‘content-type: text/plain;’

‘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).’

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

SuperNET Newsletter #6

Welcome to the 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.


  • 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


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 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.


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.


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.


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


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.


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.’

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

Faire son marché avec Nxt

Nxt possède un outil unique dans l’univers des cryptomonnaies : une place de marché numérique. Cette fonctionnalité reste assez méconnue car les articles en ventes sont encore peu nombreux et l’interface n’est pas encore optimale pour l’e-commerce. Mais les choses s’amélioreront avec le temps. Le potentiel est grand.

Comment fonctionne « La place de marché » (Marketplace) de Nxt ? C’est assez simple. Depuis votre compte Nxt, vous pouvez créer votre boutique (My store) en proposant des produits en vente. C’est assez simple, il suffit d’informer :

1) Le nom du produit

2) La description du produit

3) Quelques mots clés

3) Son prix

4) Sa quantité en stock

Dès que votre mise en vente est validée dans le blockchain, elle est accessible par tout un chacun.

L’achat est tout aussi simple. Il suffit d’aller sur le la place de marché (Marketplace) et d’informer l’adresse de la boutique qui vous intéresse. Par exemple, celle de nxter.org : NXT-EAVH-SLEV-KSEE-EE2KP (c’est de l’autopromo éhontée). Vous verrez alors une liste des produits en vente et il vous suffit de choisir l’article qui vous intéresse et de le payer. Le vendeur est alors informé de cet achat et vous fait alors parvenir le produit de la manière la plus appropriée possible. Par la poste, si c’est un produit physique, en vous donnant un code ou un lien de téléchargement, s’il s’agit d’un produit dématérialisé.

Si vous souhaitez connaitre tout ce qui est en vente sur la place de marché, vous pouvez trouver une liste sur Nxtexplorer : http://nxtexplorer.com/nxt/nxt.cgi?action=120

Voici quelques articles que je recommande à l’achat :

SinanBoom – Friends, NXT-UAET-QUMF-7NAK-72H2T. Album de musique très sympathique qui pose une ambiance planante et rythmée.

– Nxt Volta Album: Decentralized, NXT-D6K7-MLY6-98FM-FLL5T. Album de musique, de genre metal qui fait référence à Nxt dans l’intitulés de ses titres.

“The Decision Tree” de Cobaltskky, NXT-Y8XL-X7M7-XU4J-74LEX. Un recueil de poésie (en anglais) rédigé par une personnalité incontournable de la communauté Nxt. L’auteure utilise également les Assets pour officialiser votre achat et vous recevrez un tocken qui attestera votre achat.

En naviguant, on constate que l’expérience de l’utilisateur pourrait être améliorée en ajoutant des images, éventuellement des options d’achat, comme des frais de port ou la possibilité de demander un prix libre.

Le FreeMarket, un service Nxt, propose déjà ce genre d’amélioration mais il fera l’objet d’un billet consacré aux Service Nxt.

En attendant, je vous invite également à découvrir ma propre boutique, celle de Plaisir & Valeur d’histoire qui propose des produits en Français : NXT-E6NX-A5T6-85HM-94MCS . Les produits physiques sont intégrés à FreeMarket et les produits numériques à la place de marché.

NXT FreeMarket launches with no fees for 2014

Decentralised marketplace built on NXT blockchain enables free, global, private trade.

A new online marketplace will allow merchants and customers to buy and sell any goods and services they want, wherever they are in the world, with low fees and no interference.

NXT FreeMarket (NXTFreeMarket.com) is built on the popular cryptocurrency platform NXT, which already boasts a decentralised Asset Exchange for crypto-stocks and a Digital Goods Store for music and other media. FreeMarket extends NXT’s reach into the physical world, bringing the benefits of blockchain technology to a new sector and audience.

Free trade as it’s meant to be

‘The decentralised approach offers a number of significant advantages over other sites in this space,’ said Mr Knuckle, one of the site’s founding members. ‘NXT is a powerful platform and FreeMarket has leveraged that functionality to benefit users. Without a central corporation administering it, we can create a site that puts the user first and charges very low fees. There is no single point of failure: because FreeMarket lives on the NXT blockchain, it is resistant to attack by anyone who would deny you your right to trade peacefully. FreeMarket is just that: a truly Free Market.’

Communication between buyers and sellers is carried out by private messaging, protected by powerful public key cryptography, and no IP addresses or private information are stored on the blockchain. NXT’s fast one-minute block times mean transactions can be completed quickly, as well as at minimal cost.

Merchants will be able to list their goods for free until the end of 2014. From 2015, there will be a flat fee of 7.77 NXT, currently around $0.19 (the number is a reference to anonymous developer jl777, who is responsible for many well-known NXT projects and advised the founders on FreeMarket). Communication between merchants and customers will cost the standard transaction fee of 1 NXT, though this is expected to be lowered in the future. It is therefore extremely low-cost, especially for buyers.

User experience

Mindful that users want more than just low fees, the site’s developers have worked hard to create a simple, elegant interface that allows customers to search for goods and specific categories easily, and select from multiple shipping options. Merchants can display up to three images alongside their listings.

Unlike most other auction and marketplace sites, FreeMarket will not use any third-party payment processors like PayPal. Instead, payments are made directly from the customer’s NXT wallet, which can be downloaded from www.NXT.org. This ensures a genuinely secure, fast and private experience, and allows merchants and customers to trade across borders without incurring unnecessary costs.

For prospective investors, the NXT FreeMarket asset (id: 134138275353332190) will distribute 80 percent of future listing fees as dividends. A revenue-sharing agreement with SuperNET will return 20 percent of fees to holders of the SuperNET asset (id: 12071612744977229797).

NXT FreeMarket launches on Sunday 12 October. There will be no listing fees for the rest of 2014. To trade freely or find out more, visit NXTFreeMarket.com.

Nxt Decentralized eBay


Now with SuperNET gearing up, it is a good time to finally issue the asset.

FreeMarket is ready for BETA testers

nxt-freemarket copy

Asset ID134138275353332190
Issuing account9190137219092766242



20% of FreeMarket listing fees will go to SuperNET.

FreeMarket has several advantages over options like eBay:

  • There is no third-party payment processor
  • There is no need to register and give up any personal information
  • Fees are very low; listing fee is set at 7.77 NXT, a complete sale only costs about 10 NXT
  • You can pay with NXT
  • The NXT blockchain makes FreeMarket resistant to takedown
  • No centralized servers anywhere; FreeMarket does not require centralized administration
  • Allows for photos in listings
  • A simple, pleasant UI
  • Allows for unlimited, buyer-selectable shipping options, each with a separate fee (this is limited to three options right now, but will be changed before release)
  • 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
  • Listings can be canceled
  • Sellers have the option of accepting or rejecting a sale


Planned features include:

  • A buyer and seller rating and feedback/reputation system
  • Multiple quantities of an item in a single posting (this may be implemented in the first version, time permitting)
  • Other options for additional fees, such as a start page with featured listings

[ANN] thread: https://nxtforum.org/nxtventures/freemarket-official-thread/

Anon136, in April 2014:

I was given some funds for promotional work some time back and I’ve finally decided what I want to spend it on. I want to build a decentralized censorship resistant replacement for bitmit ontop of our blockchain.

It wouldnt be like a centralized service provided on a server like ebay, it would actually be a decentralized censorship resistant ebay built ontop of the nxt blockchain. Its a giant hole in this broader crypto community that’s just waiting to be filled. No matter who wins this race, every good person will be a winner.

Thanks Anon, for the 350.000 NXT donation!

Trade freely, globally, and privately with NXT FreeMarket. FreeMarket uses the NXT blockchain to store all items for sale, so there is no centralized service that has your personal information, and there is no single-point of failure for the FreeMarket system.