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The Viral Exchange joins SuperNET

viral.exchange.large

The Viral Exchange (TVE), project-led by Killakem (founder of Fibre coin and also project leader of Blitz), has just been announced as a SuperNET official partner.

TVE enables users to promote their websites and social media presence whilst earning NXT, Bitcoin and Blitz for their social interactions on all the major social networks.

TVE is the first social exchange platform that allows users to cash out points to digital currencies.

Killakem writes:

The Viral Exchange (TVE) is a next generation social exchange with the goal of monetising social network activity via the blockchain.

TVE is a free social exchange network which helps businesses increase their social network presence and drive users to their websites. The exchange system is very simple: every time a user likes, follows, or views another member’s social media page they receive Viral Points which can then be used to get more followers, likes, views or visitors to their own website or social media pages. The Viral Exchange is the first social exchange platform that allows users to cash out points to digital currencies. Users can earn Bitcoin, NXT and Blitz with their Facebook, Twitter, Google+, YouTube plus many more.

The Viral Exchange is now a SuperNET official partner! TVE will be helping to raise awareness of SuperNET inside and outside of crypto, while also providing free marketing on the platform and exposure through our press releases. TVE will also utilize InstantDEX for automated user withdrawals once its ready and we will be integrating SuperNETs innovative technology with TVE wherever possible.

Version 2 of TVE is currently in beta testing and 100 Blitz is being offered for every new bug found (cosmetic bugs not included).

To find out more, join the Bitalize channel on Slack.

TVE is being redeveloped from scratch, the new platform will utilize an MVC Architecture providing an extensive API. Moreover, the NXT Monetary system will be used as part of our Proof Of Reserve system, this will give users, marketers and asset holders complete visibility of the purchases and withdrawals on The Viral Exchange. Asset holders will not need to rely on the information we give them: all deposits and withdrawals will be publicly available on the blockchain.

[Source: TVE Business Plan]

Working closely with NXtInspect, TVE has recently relaunched its Nxt Asset. ID: 10848741160900045194.

Introducing: NxtVault

NxtVault is an open source Android application, which stores your Nxt passphrases encrypted in isolated secure storage. You will never need to enter your Nxt passphrase again, and you will no longer be at risk of viruses or keyloggers infecting your machine. Not only is it encrypted but Android’s security sandbox prevents other processes on your device from accessing the apps’ isolated storage.

After three bad attempts at entering your pin you will be locked out for 1 hour. Another bad attempt and you are locked out for 24 hours. Another bad attempt and the application will wipe out all of its data and shut down.

NxtVault is built on top of Jones’ “Jay Framework”, a javascript library created to interface with the Nxt network using dynamically discovered public nodes, allowing for the creation of our first suite of Nxt thin clients that don’t rely on a single developers centralized server!

Let’s make this even simpler:

NxtVault pincode NxtVault transactions NxtVault account 

NxtVault add account NxtVault view account NxtVault setting

For every web transaction, NxtVault pops up and displays a detailed report of exactly what the transaction intends to do, giving you a chance to review and then either confirm or deny it. The goal of the developer isn’t hard to grasp: ‘To have every third party web application support this type of transaction’.

NxtVault can be downloaded here: https://play.google.com/store/apps/details?id=jay.nxtvault

Using NxtVault with JayClient

NxtVault supports the ability to scan a qr code of a JayClient transaction.

Read more about the Jay Client.

Jay includes http://jnxt.org/jayex/ which enables you to watch and trade your Nxt assets from a web browser; transactions are secured by the Jay framework and/or NxtVault.

Jones:

JayEX is allowing for a Nxt AE trading with the security of the localhost NRS client, the inspiration of SecureAE, and the chart ideas and layout idea from Poloniex.’

The full Nxt NRS Client is available at http://jnxt.org/nxt/ as a website (and a downloadable .zip to host locally, if you prefer). Update: The jnxt.org site and the Jay Client + framework is no longer maintained. The source code can be downloaded from https://github.com/jonesnxt/

Nxt JayNxt NRS Client
Sign in with your Nxt account, not your secret passphrase.

Nxt Jaywallet NRS
Do what you like.

Nxt Jaywallet transaction tx
Send your tx’s by scanning the qr code with NxtVault, or sign it with the Jay localhost client on your desktop. 

Nxt Android apps on top of NxtVault

NxtVault developer, mr_e, writes:

Other Android applications can raise an intent to NxtVault to request for it to sign and broadcast transactions on it’s behalf. I have created an API so that Android developers can create third party applications that are not required to be open source, nor will you need to worry about trusting them with your passphrase!

NxtVault can handle both signing the transaction, and broadcasting the transaction to light nodes that are detected on the network, in a decentralized way.

I hope that this will unleash a whole new suite of trustless android apps.

The NxtVault source code has been reviewed by Jones. https://github.com/mr-e-/NxtVault

To integrate NxtVault, you need to implement its intents (i.e. the messaging objects used to request an action from another app component).

There are three key intents you can raise for NxtVault to pick up:

nxtvault.intent.action.REQUESTACCOUNT (request an access token along with the users nxt address – this will pop up nxtvault allowing the user to select an account to share)

nxtvault.intent.action.SIGNANDBROADCAST (signs transaction and broadcast – will pop up a transaction summary screen allowing user to confirm)

nxtvault.intent.action.SIGN (signs transaction and returns bytes to calling application – will pop up a transaction summary screen allowing user to confirm)

An example of how to raise these intents and respond to their results is located in the code base here:
https://github.com/mr-e-/NxtVault/tree/master/nxtvaultClientLib/src/main/java/com/nxt/nxtvaultclientlib/nxtvault

You can add nxtvault client lib as a library to your project. This gives you a JavaScript interface for all jay calls, as well as the code to raise the correct intents.

Click on the link below for the Jay interface and look at the test wallet to see how they are called: (the jinterface is using interop with javascript and will allow you to make any NRS request to a public node. With this you can make calls to getAccount, getAsset etc without needing a centralized server of your own)
https://github.com/mr-e-/NxtVault/tree/master/nxtvaultClientLib/src/main/java/com/nxt/nxtvaultclientlib/jay

For more info + to talk to mr_e:
https://nxtforum.org/general-discussion/unveiling-the-new-nxtvault-secure-account-management-for-android-devices!-beta/new

NXT Version 1.5: The Complete Toolkit For Business

With the upcoming release of Nxt software version 1.5 – which will include voting functionality, ability to use enhanced multisig account control, and improved data storage and transfer capabilities – Nxt has reached a new milestone as the next generation blockchain platform.

From its inception in late 2013 Nxt has been designed to be a multipurpose toolkit, to be used either directly from the NRS client software or to be incorporated into third party applications.

With account authorisation via the issue of secure tokens, enhanced data transfer and storage (with the ability to remove data when required), voting, multisignature transactions and much, much more, Nxt has now developed into a mature and complete next generation blockchain system for business use.

Nxt Modularity

Nxt is designed and built to be a modular system. It features several different transaction types, which can be used on their own or in combination. The current feature set, after the version 1.5 implementation of Voting and Phasing (enhanced multisig/account control) will include:

  • Send Transactions (sending the NXT currency or tokens to accounts
  • Data Transactions (send and store up to 40 kb of data)
  • Coloured Coins Transactions (create and trade Asset tokens)
  • Alias Creation Transactions (enabling the assignment of strings, such as a DNS entry, to Nxt accounts)
  • Sales Transactions (create and manage digital sales via a native marketplace)
  • Signature Transactions (provide proof of account via single-use token authentication)
  • Voting Transactions (fully customised polling system based on the Nxt blockchain)
  • Multisig Transactions
  • Custom Currencies Transactions (create customisable currencies on top of the Nxt blockchain)

More in-depth information about these transaction types can be found in the Nxt Wiki or on the resource site, NxtInside.org.

The perfect tool for DAOs

Nxt is the perfect tool for the creation of Decentralised Autonomous Organisations (DAOs). A business or developer can issue their own tokens representing their organisational structure, handle a transaction stream, and keep their finance records in a fully transparent and auditable manner on the blockchain. Building new tools to enhance the core Nxt functionality for a business’s own requirements is always possible, and the Nxt developer community will be happy to provide support for custom solutions where required.

There is no absolute need to use the provided Nxt client software (the NRS client) if users do not want to, since Nxt can be utilised directly from within other applications by using the Nxt API, which currently has around 150 function calls. Full documentation for Nxt API can be found on the Nxt Wiki.

Examples of projects that have been or are being built with Nxt include MyNxt.info, a browser wallet that supports plugins; DeBuNe, a company building business tools with Nxt; and Pangea Poker, a fully decentralised poker application.

Nxt Foundation and PayExpo

Last month, the Nxt Foundation was incorporated as a portal organisation to act as a point of contact for the Nxt community and anyone interested in the possibilities offered by Nxt – either from the cryptocurrency world or from the wider mainstream business community. The Nxt Foundation can also connect anyone with project ideas involving Nxt, such as entrepreneurs and business owners, with developers who can support or implement ideas and projects.

The people within the Nxt Foundation have a background in sales, marketing and software development, and are happy to help people explore the possibilities of using Nxt.

The NXT Foundation will be the official Cryptocurrency Sponsor of the upcoming PayExpo event, to be held in London on the 9th and 10th June 2015.

Anyone is welcome to contact the Nxt Foundation at bas@nxtfoundation.org should they have any questions or require any assistance with Nxt, or a project involving Nxt.

NXT in Space!

Nxt is also a sponsor of the Low Orbit Helium Assisted Navigator (LOHAN) project: a private UK-based initiative to launch an autonomous 3d-printed drone to the edge of space. This mission will carry a copy of the Nxt client software on its flight control computer, taking Nxt to new heights.

For more information please go to: www.nxt.org

Media Contact:

Name: Bas Wisselink, Nxt Foundation Director

Email: bas@nxtfoundation.org

Phone: +31 (0)6 13937762

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/

BITCOINDARK – BITSTAR – BOOLBERRY – CHANCECOIN
FIBRECOIN – NXT CRYPTO – OPALCOIN – VERICOIN – VPNCOIN

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

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

 

SuperNET 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

[fusion_youtube id=”6SZ9Jr4BFqQ” width=”” height=”” autoplay=”false” api_params=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=””][/fusion_youtube]

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

SuperNET v0 client update

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

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

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

SkyNET December asset dividend

Codename: SkyNET (asset ID 6854596569382794790).

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

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

James writes:

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

Combine cutting edge AI techniques with blockchain technology.

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

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

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

The buywall is back

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

The current market price for UNITY is around 200 NXT.

SuperNET holdings

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

More on the value of future dividends

Re the dividends mentioned above:

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

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

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

James
###

Other announcements

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

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

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

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

Coinimal profit-sharing deal

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

######
Coinimal GmbH with SuperNET

www.coinimal.com

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

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

51% SuperNET
49% Coinimal GmbH

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

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

You can read more about Coinimal in this ANN.

Freebieservers

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

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

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

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

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

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

Pangea

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

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

5000bitcoins writes:

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

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

Jaynodes

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

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

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

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

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

Distributed consensus

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

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

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

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

Instant decentralized crosschain exchanges

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

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

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

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

You can read more here:

Development Update 

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

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

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

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

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

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

SuperNET related links

SuperNET news

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

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

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

Community

Supernet Forum
https://forum.thesupernet.org 

PM for an invitation to SuperNET Slack

SuperNET CORE coins

NXT
http://nxt.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

OPAL
http://www.opal-coin.com 

SuperNET related projects

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

Coinomat
https://coinomat.com

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

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

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

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

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

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

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

Coinimal
http://coinimal.com

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

Prediction Markets

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

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

SuperNET Newsletter #7

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

Topics

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

SuperNET client v0

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

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

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

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

Multigateway

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

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

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

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

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

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

How MGW works

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

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

What are the advantages?

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

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

IMPORTANT NOTICE TO EXISTING MGW USERS

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

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

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

Coinomat

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

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

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

Freemarket

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

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

FreeMarket’s complete list of new features includes:

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

SuperNET Tech Tree

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

InstantDEX

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

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

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

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

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

The method is as follows:

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

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

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

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

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

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

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

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

SNN

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

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

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

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

More about BTCD

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

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

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

BTCD wallet

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

Where’s Wally?

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

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

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

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

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

His game is this.

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

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

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

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

Stash: mass-market BTCD application

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

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

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

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

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

Development Update

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

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

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

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

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

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

The code to test this is:

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

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

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

Code review

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

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

SuperNET related links

Supernet Forum
https://forum.thesupernet.org

SuperNET news

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

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

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

SuperNET CORE coins

NXT
http://nxt.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

SuperNET related projects

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

Coinomat
https://coinomat.com

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

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

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

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

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

Prediction Markets

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

Affiliated websites (revenue sharing or partial ownership)

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

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

SuperNET Newsletter #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 #4

Welcome to the SuperNET newsletter!

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

Topics

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

Chancecoin

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

[Funds Request]

James:

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

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

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

SuperTraders

[SuperTrader funds transfer notice]

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

James:

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

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

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

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

VRC funding request approved

The funding request announced in the last newsletter is approved.

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

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

NxtInside

NxtInside

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

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

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

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

SuperNET Client GUI

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

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

longzai_SN_GUI

BTCD and SuperNET

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

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

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

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

So how might it look in practice?

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

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

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

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

BITS ATM

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

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

Code review and Telepathy

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

James continues:

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

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

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

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

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

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

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

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

API calls and testing

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

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

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

SuperNET related links

Supernet Forum
https://forum.thesupernet.org

SuperNET news

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

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

SuperNET CORE coins

NXT
https://nxtforum.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

SuperNET related projects

Coinomat
https://coinomat.com

VRC
https://vericoinforums.com

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

CHA
http://chancecoin.com

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

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

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

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

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

Prediction Markets

https://www.fairlay.com/predict/registered/new/supernet-in-top-10-of-coinmarketcap/
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: http://test.nxter.org

SuperNET Newsletter #3

Welcome to SuperNET! 

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

Topics

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

Asset linkages

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

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

James:

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

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

NXTventure in SuperNET

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

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

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

ATOMIC

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

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

CryptAxe, creator of Atomic, writes:

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

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

[Funding Request]: VRC

James:

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

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

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

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

James

ATM support and Bitstarcoin

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

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

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

CryptoDevil writes:

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

T3CLtd announces:

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

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

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

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

SNN funding and distribution

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

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

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

The asset allocation is as follows:

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

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

SuperNET Radio

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

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

Some of the suggestions and points raised by Kevondo include:

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

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

SuperNETwork

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

James writes:

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

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

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

Development update

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

James writes:

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

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

Multisig

James:

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

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

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

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

The ‘last mile’

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

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

James writes:

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

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

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

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

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

—

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

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

SuperNET related links

Supernet Forum
https://forum.thesupernet.org

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

SuperNET related projects:

Coinomat
https://coinomat.com

VRC
https://vericoinforums.com

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

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

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

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

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

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

Prediction Markets

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

Affiliated websites (revenue sharing or partial ownership)

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

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

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

A closer look at Teleport

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

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

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

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

Teleport: a new approach

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

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

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

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

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

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

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

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

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

Pros and cons

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

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

Brave new world?

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

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

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