NXTER.ORG

SuperNET Newsletter #18

Welcome to the SuperNET.

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

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

Topics

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

Wallet Updates

nxtcrypto-supernet

SuperNET Litewallet v2.0.5-beta

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

SuperNET NRS plugin

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

SuperNET NRS 1.5.12 update

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

Agents

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

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

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

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

Dev assets

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

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

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

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

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

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

777-supernet-slack

Dividend sent

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

MGW agent

supernet-multigateway-mgw

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

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

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

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

Test it

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

Install BitcoinDarkd:

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

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

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

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

Small fees to cover server costs

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

InstantDEX agent

instantdex-idex-supernet

InstantDEX (Nxt asset ID is looking great:

InstantDEX-SuperNET-ui-lo

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

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

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

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

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

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

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

PrivateBET agents

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

Data feed

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

Privatebet

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

Cashier Agent

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

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

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

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

Crypto777

Dividend

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

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

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

How is crypto777 going to be monetized?

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

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

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

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

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

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

Job offer to technical sales creature

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

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

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

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

1%-20% discount on core assets

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

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

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

SuperNET Services updates

Jay

Secure litewallet and framework
Nxt asset ID: 8688289798928624137

Jay NRS now supports Multigateway 1.0 with mgwBTC.

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

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

Cryptocard

Semi-anon card from Coinomat
Nxt asset ID: 7110939398145553585

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

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

SkyNET

Financial analytics AI
Nxt asset ID: 6854596569382794790

Nexern writes:

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

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

analytics, statistics and signaling (see landing page).

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

‘Added a visual overview for pattern detectors/triggers:

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

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

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

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

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

Pangea Poker

Decentralized Poker
Nxt asset ID: 6883271355794806507

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

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

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

Freemarket

Decentralized Marketplace
Nxt asset ID: 134138275353332190

A new FreeMarket version 1.4 now available.

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

SuperNET Core Coins

Bitstar

http://bitstarcoin.com

Bitstar will promote and utilise SuperNET on ATMs.

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

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

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

BTCD

http://bitcoindark.pw

Get paid for staking

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

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

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

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

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

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

Initial dividends

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

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

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

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

FIBRE

http://www.fibrecoin.com

Fibre SkillShot 1.2 released

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

Unity3d web version
http://fibreskillshot.website/

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

FibreLock 2.0 – Next Generation Wallet Security released

FibreLock-SuperNET

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

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

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

Proof of Concept Wallets

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

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

FibreOS

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

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

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

FIBRE Silver Coins

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

NXT

http://nxt.org

NRS 1.5 is LIVE

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

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

Nxt Plugin System:

Nxt Voting System:

Nxt Phased Transactions:

PayExpo2015

Nxt enjoyed a solid presence at the conference.

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

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

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

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

SuperNET > PayExpo sponsorship

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

You can read more about Nxt, Drachmae and PayExpo at

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

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

TipTap

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

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

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

To The Mooooon

https://nxt.tothemoon.me

nxt-to-the-moon

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

NXT ATM in Vienna

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

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

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

Hackco.in London Hackaton

Nxt-hackcoin

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

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

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

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

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

OPAL

http://www.opal-coin.com

https://soundcloud.com/supernetradio/voidlord

SYS

http://syscoin.org

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

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

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

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

VeriCoin

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

VPN

http://bitvpn.top

Open source Blockchain Lottery

Bet 50 VpnCoin – Win 200000 VpnCoin.

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

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

SuperNET Related

Drachmae

http://www.drachmae.org

SuperNET is platinum sponsor for the Drachmae project.

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

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

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

There has been lots of great publicity about this:

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

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

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

SNRN

http://supernetradio.com

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

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

BTCOR

https://www.btcor.co

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

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

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

Altnuts Mining Pool

http://altnuts.com

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

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

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

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

SuperNET Newsletter #14

Welcome to the SuperNET.

These are very exciting times, with the realtime Multigateway going into beta – meaning that anyone can now download it and start using it. Beyond that, we’ve got plenty of analysis on how the launch of these services could affect the broader crypto ecosystem, and some other news and information you’ll want to hear about.

Topics

  • SuperNET v1 BETA released
  • MGW ramchains
  • The BTER hack
    • if you have UNITY on BTER
  • InstantDEX
    • Preparing for iDEX
    • Fixed fees
    • Hybrid orderbooks
    • Nxt forgers
    • InstantDEX GUI release
  • SkyNET
  • SuperNET NRS plugin
  • VRC
  • OPAL
  • Coinimal
  • SuperNET Radio Network
  • SNN
  • CHA?
  • The Endgame
  • Win a SuperNET Silver coin

SuperNET v1 BETA released for testers

The hotly-anticipated public beta version of the first official SuperNET client is available for testing. The MGW has been totally re-engineered. The new realtime MGW uses ramchains: James’ distilled blockchain tech that is many times faster to initialise than a regular blockchain.

The v1 client appears as a multiwallet for the SuperNET CORE coins. You can fund it and send coins from it. The first coin deposit you make to your wallet (whether it’s in BTCD, NXT, OPAL, VRC, BITS or VPNcoin) will automatically fund it with 10 NXT, which can be used for paying transaction fees. It is hoped that BTC will be enabled on the realtime MGW within two weeks – BTC’s blockchain is so large (approaching 30GB) that it is taking longer to process than the other coins.

t3cltd writes, ‘Seeing as we have actually released a beta version and we’ve already begun releasing updates, the “download for testers” is simply a wider net of the public who can try it out at will on the understanding it is a beta product at this time.’

Get the new client here: http://www.supernet.org/en/home-of-the-supernet/supernet-downloads

supernet-beta-client

If you try it, please leave your feedback in SuperNET Slack channel #v1testers. You can interact with SuperNET Slack without asking for an invite or signing up: http://chat.supernet.org

Eth says: “As every new feature, the innovative superNET GUI (basic mode) is going through a number of changes, and what happens in back end is most probably going to affect front end, so this upcoming week there will be a quick re-structuring on the interface inner file set in order to ease up the implementation of new features (that we cannot talk about yet!) in the future.

We will be including also the first video tutorial, which will serve not only to explain the basic functions of the multiwallet, but also a presentation for the different sections that populate superNET, making it a truly unique experience in crypto.”

Further functionality will be added on a rolling basis, ensuring a stable client with an ever-increasing feature set. Some main features are already visible in the GUI, including the funding of your wallet directly from USD or EUR, sending coins by email, and the links to projects and services in the top bar which will definitely be worth watching over the coming months. And right now ramchains for DRK, BTC and DOGE is being created to add to the SuperNET v1.

MGW ramchains

Realtime status for the Multigateway servers are also displayed in the client. The old MGW servers were prone to going down; the new servers will be actively maintained, as James writes:

‘The realtime MGW uses ramchains, so restarting that takes just a few minutes and we are making all sorts of alarms and monitors, etc. You have to also realize the old MGW is run on volunteer basis and there are no profits from it, just expenses. It is clear that this is too extreme on the frugality side and that people would rather pay a small fee that would fund 24hr monitoring and faster response time.’

Charging a small fee will enable SuperNET to pay people to maintain the servers, so they can be restarted – in the superfast time enabled by ramchains – as soon as a problem is detected. Additionally: ‘I am still fiddling with selfhealing ramchains. Did a proof of concept where a brand new ramchain was loaded to a new node in about a minute for BTCD. Not quite done with that, but the bulk of it is done in ~100 lines of new code with a few surgical changes scattered.’ This will make for a more robust system that is less prone to going down – and faster to restart if it does.

As ever, a big thank you goes to James for all his hard work and some tech that really belongs in a sci-fi film.

The BTER hack

BTER lost 7,170 BTC in the hack two weeks ago, which looks like a co-ordinated hit on several altcoin exchanges. As yet there is no indication that these funds will be recovered, and the future for the exchange is unclear.

SuperNET had around 400 BTC on BTER. James writes, ‘Not sure of exact amounts, but most all the ICO funds had already been withdrawn over the months. It was <5% of total funds raised. The funds left were mostly from converting the CNY raised during ICO.’

However, it is hoped that the loss of a number of altcoin exchanges and renewed doubt about the security of centralised exchanges will bring more users to InstantDEX: ‘SuperNET is not much affected by this incident and InstantDEX will become quite popular. The 400 BTC loss stings, but with central exchanges’ continued problems the InstantDEX will gain and SuperNET will more than make up for this.’

If you have UNITY on BTER …

UNITY is just the trading symbol for the SuperNET asset and as we advised in December after the pump’n’dump ring accusations against BTER, it is best to have it in a NXT address that you control (including the new beta client). All dividends will automatically be sent to whatever address the SuperNET asset is in.

If you are new to Nxt, you can use either the standard Nxt wallet or the SuperNET wallet – the passphrase is the same. It’s also easy to start with the blockchain-less NxtLite client. The latest NXT NRS client release can be found here: http://test.nxter.org/latest-nrs-release/ and for the SuperNET v.0 (enhanced NRS) look in this thread: https://nxtforum.org/lite-multigateway-releases/

BTER have now enabled withdrawals of UNITY and some other Nxt assets. We advise you to withdraw them to an address you control! This will also make it easier to receive upcoming dividends.

InstantDEX

In one of the most exciting developments for both SuperNET and wider crypto, InstantDEX – the distributed real-time crypto exchange – is almost ready for launch.

Preparing for iDEX

To prepare the ground for active trading, James is making a market in BTC/NXT on Nxt Asset Exchange.

###
[Notification]

Due to the recent incidents, the lack of liquidity is impacting the entire NXT community. Additionally with InstantDEX arriving soon it will benefit from a more liquid market in NXT. So I will manually start making a market in BTC/NXT on the AE but this will be updated with automated market maker.

2 million NXT and 100 BTC will be adequate to start. Even though there will be 2MM NXT and 100 BTC, it will be set up as ladders, so it is highly unlikely more than half will get traded and most likely a lot less.
###

James has put up orders for mgwBTC, starting at the bargain price of 4444 sats (with a price ladder in 10 BTC lots), and BTC sell orders <1% above the bid. The new mgwBTC asset ID is #17554243582654188572.

NXT now has liquidity and low spreads. James writes, ‘There is around 2 million NXT and 50 BTC or so, I plan to deploy some automated bots next week, but for now it will be manual so I can’t promise any specific level of spreads.’

Fixed fees: 2.5 NXT

InstantDEX will charge low fees to encourage higher volumes, aiming to become the dominant altcoin exchange in the wake of the series of recent hacks. A flat fee of 2.5 NXT will be charged per trade, on top of existing transaction fees. James writes, ‘There will be 2 tx per trade per side, so that is 2 NXT right there, so in that case I think 2.5 NXT fee which is 4.5 NXT. That means at 4500 NXT trade size it is 0.1% and any trade for more it is less. For 1 BTC size trade, it is < 0.025% so this is a really really good price.’

This fee will, of course, be higher as a percentage for lower amounts. ‘Since we want trade volumes in more value and not just a lot of small trades, even if the fixed fee is discouraging the 50 NXT trade, we should still end up with 80% of trading volumes.’

These low fees are extremely competitive compared to regular exchanges, pointing to a potentially significant revenue stream. ‘With 5 NXT per trade, the direct revenues for InstantDEX become quite ridiculous, so it can’t possibly be true. Well it is contingent on a rather crazy high 100 trades per block, but at that levels InstantDEX will have revenues on par with best any of the mining assets ever did, but instead of just being a return of capital it is from organic new revenues, from a rapidly growing business.’

Hybrid orderbooks

Many people have heard of arbitrage and arbitrage bots. This idea will be leveraged to create new markets for InstantDEX.

‘For example, let us say there are BTCD/NXT and NXT/BTC markets. Well these really do exist so it is easy to think about this exact thing! So the price of BTCD/NXT is going up and down and so does NXT/BTC price, now there is a third combination BTCD/BTC market and it also is going up and down!

‘But these three are all related, eg. BTCD/NXT + NXT/BTC == BTCD/BTC.

For example BTCD/NXT 100 NXT and NXT/BTC 0.00005 -> 1 BTCD -> 100 NXT * 0.00005 = 0.005 BTC. So if the prices are 100 NXT for BTCD and 0.00005 BTC for NXT, then this is equivalent to 0.005 BTC for BTCD. What if any of the three is going above (or below) these prices? ARBITRAGE!!

‘So I am making the BTCD/BTC orderbook automatically have the (BTCD/NXT + NXT/BTC) orderbook and with one action you will be able to get the best price. With arbitrage, especially cross exchange, there are times where you can buy something at the exact time as you sell the opposite and can lock in a gain. This will require a pair of trades, one going through 2 orderbooks, the balancing trade through 1.

‘For hybrid orderbooks (eg. BTC/NXT + NXT/XYZ -> BTC/XYZ) it would incur an extra 3.5 NXT, 1 from NXT and another 2.5 NXT. Still this is 8 NXT and the hybrid orderbook was used presumably since it had the better price than any direct orderbook.

‘Also keep in mind I aim to have automated market makers with ~1% spread for the major issues. If you factor the savings from the narrower spread, even smaller orders could find it to make sense and the larger orders are finding no reason to trade anywhere else.

‘I think an 8 NXT fee for InstantDEX is well earned and the user is making some incremental profits.’

Nxt forgers

What any volume of activity on InstantDEX points towards is greater rewards for NXT forgers. ‘Assuming we fill up the blocks, this is ~250K NXT in fees per day (gladly paid by traders). Now at this pace, NXT forging is paying ~10% per year! I think with that sort of return, the value of NXT will become quite a bit larger.

‘For those trying to estimate the amount of fees InstantDEX will earn I would imagine it would be a multiple of the 4 NXT worth of fees per trade. While most trades will be < 1000 NXT, there will be some larger trades for 1 to 10 BTC, so i would expect the average fees per trades to be closer to 10 NXT. A single 10 BTC trade is really boosting the average. Of course there is no guarantee of reaching this sort of trading volumes and sustaining it, but if it did, that would be fees that are more than 200MM NXT per year. So even achieving 10% of this level is making for a very good result.

‘What other investment would give interest rate like that and have all the potential NXT has?

So no promise that we get to 100MM market cap, but if crypto is based on cashflow a rough metric would be an extra million dollars NXT market cap for each tx per block InstantDEX does.

‘I am in close contact with NXT devs, they said blast away give us MOAR tx! It seems the current cap of 256 [tx’s per block] is easy to expand and there are several ways to reduce the blockchain bloat, even I came up with some simple methods to allow for 10x or even 100x more tx without much blockchain bloat. So no worries about using InstantDEX too much.’

InstantDEX GUI release

‘I am on schedule for getting the InstantDEX API fully functional, still need to add error checking and a few other things, but the GUI release is the bottleneck. I was told that next week we will get a GUI release based on: https://yunbi.com/markets/nxtbtc that will be interfaced to InstantDEX API, so if they come through then next week. Since I don’t personally control the GUI and I can’t do GUI work myself, I cannot make any specific estimates, but the team that is on it has been highly recommended so I am optimistic.

‘It will allow people to simply start trading! no accounts to register, no KYC, not even email needed.’

SkyNET

SkyNET will feed the bots that will generate revenue from trading. So, how is this intriguing project progressing?

nexern writes: ‘Complete fundamental data (fillings) history fetched, stored and up-to-date now. Raw data is 4.5 TB uncompressed, resulting in ~15.7m docs in total (not precise, just estimated from random chosen archives, so numbers may change). This data resource delivers not only raw numbers but also something like “behavioural analytics”, means it could answer questions like: how inner/outer shares flows to whom and where else, how does this affect price, what are the whales doing, what about current short sales, who is involved and connected to whom, well, hidden relations. It would be interesting to dig in this data to identify some “fat-fingers” and if so, to monitor their activity.

‘Luckily I was also able to get my hands on a huge forex tick! archive (15 years, major pairs). This data is perfectly suited for extensive intraday backtesting for traders specialized in currencies.

‘To complete this wide range of data resources I decided to add also macroeconomics data over the next weeks. Just remember, Finhive is constructed to deliver data and tools to as many traders/investors as possible and there are many of them using this kind of data to trade/invest on much longer timeframes than others.’

You can read more in the Finhive Development Monitor: http://finhive.com/fh_devmon.html

SuperNET NRS plugin

As Nxt will add plug-ins support from the upcoming NRS 1.5 release (currently on testnet), a SuperNET plugin is also on the way. The Nxt Reference Software 1.5 will also feature a decentralized Voting System and 2-Phased Transactions, which allows for the creation of services like trustless escrows, multisig wallets, and shareholders’ voting about whether to release funds.

SuperNET and all of its CORE coins will automatically gain access to this functionality. Other plugins have already been developed. For example, Tosch is developing an easy way to access and use Nxt’s Decentralized Crowdfunding feature as well as Nxt’s digital Marketplace.

VRC

VeriCoin 1.5.1 is now available for download for Mac, Windows and Linux at www.VeriCoin.info

VeriCoin BlockChain Reload Demo
http://youtu.be/IsgcBoRad_0

What’s new in the VeriCoin 1.5 .1 Wallet?

vericoin1.5.1

VeriCoin has also teamed up with ISG3D, a Canadian based 3D printing company, and can now offer custom VeriCoin smartphone cases. More details can be found here – http://www.isg3d.com/products/vericoin-iphone-case

OPAL

uncle_op2sam_720

Coinimal

Coinimal has introduced a Tell-A-Friend system: You receive a €2.50 bonus* for every referred, verified customer after the initial order. Additionally you will receive a lifetime 5% bonus* on the collected service fee, for every order your referred customers fulfil.

And of course, your friends will benefit as well. After their verification we will grant them a €5 voucher for their initial order. https://www.coinimal.com/tell-a-friend

*Bonus can only be withdrawn as Cryptocoin order. Minimum order is 25€. Can be combined with normal order. Valid: 180 days from issuing date.

Coinimal is looking for a freelancer to code the Coinimal plug-in for Nxt’s upcoming plug-in system. PM twinwinnerd.

SuperNET Radio Network

SNRN is taking advertisement orders. SuperNET-related coins and services are not supposed to start paying for exposure on SuperNET Radio, because ‘we do this as a service to the SN community to keep them informed’, as Lootz writes.

‘Plugging’ or ‘promoting’ a coin, service, asset, or product is self-evident when it’s the subject of a discussion’, continues Kevondo, ‘but active advertising via “on air” spots, sponsorships, Blocks Ads or producing a show and running it on air multiple times are all currently within SNRN’s capabilities, so contact myself or Lootz for prices’.

‘Those taking advantage of Pre-Supernet Launch Deals will be grandfathered in @ the price we agree to NOW. As SNRN increases its reach when Supernet begins active promotion, the pricing included in our Business Plan will come into play. Lootz is giving away the house right now. LOL!’

SNN

SuperNET News Network has launched. fumanchu writes: ‘Aloha, Hello, Salutations, and all that Jazz. It is my very special privilege to let everyone know we just had the soft launch of the first portal in the SuperNET News Network ( SNNews.io  / Supernetnews.org ).

‘Content will be dripping in slowly during those first few awkward weeks but in time we hope to have a steady flow of community-driven content focusing on developments in the Business, Blockchain, and FinTech Space.

‘Get in touch if you want to talk about advertising specials for the first few groups that sign up for 6 and 12 month packages. Pricing is lower now than it will ever be again in the future. Contact me BEFORE you sign up though and I’ll give you a special deal since you are all part of the SuperNET family here.’

CHA?

There’s a problem that someone out there might be able to solve. James writes: ‘Somebody needs to pull a magician out of a hat’: Chancecoin’s lead developer, magician, seems to have disappeared. ‘If we get a java dev, it can be taken over. chanc3r said the tech was good. I can offer 1% of chancecoin to the new dev that is taking over.’

The Endgame

SuperNET is all coming together. James writes, ‘We are approaching the end game. All the pieces are in place. Just have to snap them into place and activate them. I think there is some feedbacks coming from security side, but that is for privacy issues.’

‘After InstantDEX, I will make the Tradebots, which allows for some improvements to MGW, and of course Teleport and finally Telepathy to complete the core things for me. Probably a few things needed for Privatebet. I said it would be about 6 months for me to complete my tech, I think it is around  5 months now and ramchains kind of got added, so I can pretend I am still on schedule. I am making the core, but the true nature of SuperNET is all the things that others will build on top of it.’

Win a SuperNET silver coin

So where are we going? How do you see Nxt / SuperNET playing out in the future?

winning

Post a meme, an essay, a piece of code,  a cartoon, a song or a video, a master thesis or indeed anything else that helps you answer the question. The winner will receive one of pondsea’s stunning limited-edition .999 silver SuperNET coins.

Deadline: Friday 6th March 2015, Midnight GMT. Post your entry to the contest here: http://test.nxter.org/win-a-supernet-silver-coin/ or message your entry to NXT-EAVH-SLEV-KSEE-EE2KP. Nxt Community will pick the winner.

SuperNET related links

http://supernet.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/

Community

SuperNET Slack
chat.supernet.org for chat and signup,
https://forum.thesupernet.org/index.php?board=46.0 have a log of the public channels.

SuperNET Forum
https://forum.thesupernet.org

SuperNET CORE coins

NXT
http://nxt.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

OPAL
http://www.opal-coin.com

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

SuperNET related projects

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

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

Coinomat
https://coinomat.com

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

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

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

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

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

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

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

Coinimal
http://coinimal.com

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

Prediction Markets

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

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

SuperNET Newsletter #11

Welcome to the SuperNET!

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

Topics

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

v1 client

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

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

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

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

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

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

JLH – THE LOTTERY

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

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

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

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

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

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

More on JLH…

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

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

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

The jl777 Bonus

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

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

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

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

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

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

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

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

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

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

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

Opal client screenshot

http://www.opal-coin.com/news/2014/12/supernet/

OPALTKN dividend sent

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

SuperNET added to VPN coin wallet

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

MGWcoin asset dividend?

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

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

FinHive

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

Pangea

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

You can find out more about Pangea on YouTube:
https://www.youtube.com/watch?v=uwc9kQUoSNA
and https://www.youtube.com/watch?v=rULrkZFuBBE

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

Freemarket app bounty

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

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

SuperNET bug rewards

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

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

If you want to participate, please contact Azeh.

Week 3 Completed

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

Development update

95% done

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

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

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

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

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

The MGW bridge

James writes,

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

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

And so it begins…

Last comment today, before ‘will be resting’:

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

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

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

Community and marketing

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

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

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

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

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

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

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

Happy New Year!

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

The SuperNET team

SuperNET related links

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

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

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

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

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

SuperNET Newsletter #10

Welcome to SuperNET!

supernet-newsletter

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

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

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

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

Topics

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

NEW CORE COIN: VPN

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

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

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

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

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

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

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

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

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

SkyNET

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

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

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

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

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

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

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

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

The early bird SkyNET SALE

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

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

Therefore a total of:

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

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

Remember Tradebots?

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

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

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

InstantDEX, BTCD and JLH

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

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

BTCD: reference currency

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

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

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

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

JLH: reference asset

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

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

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

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

Market making JLH

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

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

MMatrix

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

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

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

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

OPAL

Wallet update

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

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

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OPALTKN

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

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

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

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

OPAL/jl777 teleport web project

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

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

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

VRC update

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

BTCD revenues

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

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

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

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

Coinimal

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

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

Buy side:

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

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

Reward: 100 NXT per Tester!

PM me for Beta Key!
###

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

Bitcoin Shanghai Expo

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

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

Development Update

Infrastructure

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

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

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

SportsBet

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

Bug hunters required

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

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

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

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

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

SuperNET compiled on Windows

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

SuperNET related links

SuperNET news

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

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

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

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

Community

Supernet Forum
https://forum.thesupernet.org 

PM noashh for an invitation to SuperNET Slack!

SuperNET CORE coins

NXT
http://nxt.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

OPAL
http://www.opal-coin.com 

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

SuperNET related projects

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

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

Coinomat
https://coinomat.com

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

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

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

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

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

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

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

Coinimal
http://coinimal.com

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

Prediction Markets

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

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

Nxt [CORE]: Arbitrary Messages

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

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

Messaging

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

Nxt_msg

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

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

MORE USE CASES

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

Nxtmemo

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

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

nxtmemo

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

Cryptamail

cryptamail_nxt-inside

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

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

Multigateway

mgw

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

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

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

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

You can read more about the Multigateway here.

Helix

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

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

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

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

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

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

helix_finhive

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

Read more on the Nxtforum.

 

Conclusion

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

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

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

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

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

SuperNET Newsletter #9

Welcome to SuperNET!

supernet-newsletter

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

Topics

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

New core coin OPAL

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

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

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

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

SuperNET v0 client update

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

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

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

SkyNET December asset dividend

Codename: SkyNET (asset ID 6854596569382794790).

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

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

James writes:

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

Combine cutting edge AI techniques with blockchain technology.

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

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

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

The buywall is back

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

The current market price for UNITY is around 200 NXT.

SuperNET holdings

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

More on the value of future dividends

Re the dividends mentioned above:

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

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

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

James
###

Other announcements

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

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

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

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

Coinimal profit-sharing deal

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

######
Coinimal GmbH with SuperNET

www.coinimal.com

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

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

51% SuperNET
49% Coinimal GmbH

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

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

You can read more about Coinimal in this ANN.

Freebieservers

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

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

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

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

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

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

Pangea

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

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5000bitcoins writes:

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

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

Jaynodes

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

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

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

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

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

Distributed consensus

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

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

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

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

Instant decentralized crosschain exchanges

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

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

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

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

You can read more here:

Development Update 

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

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

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

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

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

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

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