NXTER.ORG

SuperNET Newsletter #15

Welcome to the SuperNET!

As ever, life moves fast in crypto, and never more so than in the SuperVerse. The main news is that InstantDEX is approaching launch, another dividend is about to be distributed, we have a SuperNET v1 beta LiteWallet, but that’s not all, there’s plenty more still to tell you about – including a new addition to the CORE coins list: FIBRE.

Topics

  • v1.1.3beta
  • v1.1.3beta LITE
  • MGW
    • Coin IDs
    • MGW fees
  • FIBRE: New SuperNET CORE coin
  • Jay dividend
  • InstantDEX
    • API level test of InstantDEX
    • Testing help required
    • InstantDEX Lotto
  • Half-anon Cryptocards available
  • VPN Bounty
  • BTCD and NXT
  • SuperNET CORE coins

SuperNET v1.1.3beta

SuperNET wallet v.1.1.3 beta is available for testing:
https://bitbucket.org/longzai1988/supernetv1/downloads/supernetv1-1.3b.zip

Hash: 4B186C0DDE96C5F1432213BD1F4C96A34CDD98F177CCCBE63BF2F39025BDDEA6

SuperNET v1.1.3 beta litewallet

The litewallet version – a pure html client – is now available for testing: https://bitbucket.org/longzai1988/supernetv1-lite/downloads/supernet-JAY-1.0b.zip

Hash: 57E04EFCE3D25608E59270E03B0EF9477CDCC4953AF95F6C0284BED3E46CB8C9

The ‘advanced’ view is currently disabled for Jay wallet.

Supernet-litewallet-nxtinside

 

SuperBTCD-Bitcoindark_nxt

MGW

SuperCoins ID

As part of the ongoing evolution of the Multigateway to become a key part of SuperNET, coin token names have been updated, as have asset IDs.

‘Note that all the assets delivered by SuperNET v1b (and found in the new SN wallet dashboard) follow different naming.’, writes VanBreuk. ‘The SuperNET MGW uses new assets. mgwBTCD has become superBTCD. And although James said iDEX could handle old and new assets as equivalent, we’ll be offering an asset swap for anyone who wants to update assets soon.’

And Longzai advises us that: ‘When we decide to drop the legacy mgw there will be 1:1 asset swap’.

The SuperCoin IDs are:

superBTCD – 6918149200730574743
superVRC – 9037144112883608562
superOPAL – 6775076774325697454
superBITS – 13120372057981370228
superVPN – 7734432159113182240 (withdraws still not operational)

SuperFIBRE (multisig details in development) and the SN versions of BTC, DOGE and others will soon be added. See https://multigateway.org for more information.

When you fund your SuperNET Wallet, the corresponding tokens will automatically show in the AE of your Nxt account where you can trade them manually for NXT or other assets, for example US$-pegged CoinUSD asset (ID 12982485703607823902) or the EUR-pegged equivalent (ID 18331302471589054607), which are also Coinomat gateways to fiat, via SEPA transfers to VISA / Mastercard.

Asset < – > Asset trades will be enabled in SuperNET with InstantDEX integration.
Interesting Nxt AE assets include: http://test.nxter.org/sorted-nxt-asset-exchange-listing/

MGW fees

‘Current MGW withdrawal fees are based on coin transaction fees and Nxt transaction fees, which need to be covered by the service. Since fees are subtracted from, for instance, BTCD withdrawal, there is a value in the servers’ configuration that defines the approximate equivalent of the NXT transaction fee in BTCD. Then the system applies twice that amount (covering the asset transfer and messages costs) plus a safe amount based on the regular BTCD tx fee, keeping in mind that multisig transactions may involve higher fees than regular ones. When InstantDEX brings price feeds, these “approximate equivalents” should refer to current market rate.’

At this point, the total MGW fees are these fixed amounts:

BTCD – 0.022
VRC – 2.002
OPAL – 2.02
BITS – 20.02
VPN – 200.002 (VPN withdraws are not working until coin developers patch the VPN daemon for full multisig support)

Minimum withdrawals are

BTCD – 0.5
VRC – 50
OPAL – 50
BITS – 500
VPN – 5000

New CORE coin: FIBRE

SuperNET has a new CORE coin: Fibre.

supernet-fibrecoin

Last week, the announcement was made:
‘Fibre will be leaving the Blocknet Project.’

‘We wish the Blocknet all the best, decisions like this aren`t easy but we are changing direction for Fibre in 2015. Fibre community and investors will always stand in the first place. In our opinion we are choosing a better future for Fibre’.
https://bitcointalk.org/index.php?topic=737771.msg10698947#msg10698947

‘The Fibre dev team has been represented in SuperNET Slack for more than a month but has always made it perfectly clear that Fibre was part of the Blocknet initiative. Recently, a real attempt to fulfill the requirements to integrate Fibrecoin in SuperNET as a CORE coin was started; opening Fibre’s source core tech to SuperNET analysts (the review was done by chanc3r), and after that, a swap of SuperNET assets with Fibre assets was required’, writes Eth.

Learn more about Fibre @ http://test.nxter.org/new-supernet-core-coin-fibrecoin/
and enjoy the rest of this newsletter while listening to an Interview with Fibrecoin leader Killakem!

This is SuperNET Radio:

https://soundcloud.com/supernetradio/fibre-coins-founder-developer

Fibre is available on the SuperNET Multipool http://altnuts.com, and also Xpool.ca multipool.

We welcome the FIBRE Team and look forward to finding out more about their forthcoming projects.

Jay dividend

The Jay dividend is ready for distribution. 7.5% to SuperNET, 7.5% to NXTventure and 5% to JLH (jl777hodl) will be distributed. This will occur when fewer than 8,161 SuperNET assets are left in BTER. At the time of writing, BTER’s cold wallet has just over 20,000 SuperNET assets in it.

Jay (ID 8688289798928624137) will allow people without any software on their system to run the SuperNET GUI and access all coins. Jay will get an InstantDEX revshare when it makes a lite-InstantDEX. ‘I added a ‘GUI’ field so we can track which GUIs the orders are coming from’, writes James.

InstantDEX

iDEX1

A preview video of the InstantDEX client alpha is available here.

You can see InstantDEX in realtime (thanks to MyNxt.info) here.

‘InstantDEX core API is feature complete other than automatching hybrid orderbooks’, James writes. ‘Got the asset<->asset trading working and looks good. So now what is left is the most advanced case (hybrid orders), which isn’t even necessary at first and making it automatch and chart signals.

Then I will switch over to network security enhancements while the testers are pounding on it.

So, the ramchains, realtime MGW and InstantDEX should go into maintenance mode for me very soon. Then the security revamp will be squeezed in and that leaves Tradebots and Privatebet. Once I get the raw data parsed properly, I was just going to create a transaction list, along with summary stats for each asset that was traded and a global summary too.’

InstantDEX is getting inputs from the central exchanges, NXT AE and its own orderbook, so from a single display you can see prices from all the places at once.

API level testing of InstantDEX

InstantDEX is progressing nicely – and, more to the point, is working effectively. ‘Trade completes faster than I can switch tabs! The only difference performance-wise from a central exchange is if you don’t have any inventory of something, then you can’t retrade it until you have enough confirms. I will let each node decide what “enough confirms” means. But if you are trading with plenty of inventory and have enough aged assets, then you won’t even notice this.

‘Another nuance is that even though the trade is locked and done (like after hitting Send Money), until there is at least one confirmation, there is always some very small chance that it won’t get confirmed. I am talking about a big blockchain event or some sort of attack scenario. However, even in such unlikely events, all the components of a trade are atomic swaps of NXT <-> asset, so at worst you have a dangling half of the trade, but you didn’t lose any funds. As with any trading, if the market moves against you, well, not much can be done about this

‘So, not quite 100%, but 99.99%+ with the downside being partial fills. Since the performance is fast, the security of not having to worry about any central exchange is well worth this and I hope that people will be able to understand the slight difference. For the cost of one out of many thousands of trades not completely filling, needing to wait a block to be sure it confirmed, and some users requiring N confirms, we get to trade without worrying about the exchange dying. This being said, if you are trading assetized crypto, I still recommend to withdraw after you are done trading, if only so you can be staking. And nothing is as safe as your local wallet.’

Testing help required

James writes, ‘I made an instantdexbeta private group, only for people who will actually test, no spies. The best testers are usually becoming very good coders. This is because a lot of coding is about finding and fixing your own bugs.’

DM James in Slack for access – but only if you have the time to really test it.

InstantDEX Lotto

James writes, ‘My idea is to fund a monthly lotto with this 5% [the unallocated InstantDEX revenues], winner take all (shared between all that tie).

 If total InstantDEX revenues are 20 million NXT, this is a 1 million NXT monthly jackpot, and each 2.5NXT fee you pay to InstantDEX gets you a lotto ticket.’

For those who still don’t understand how the pieces fit together (which is understandable, when there are so many pieces), InstantDEX can be considered ‘the grand central station of SuperNET. It connects everything to everything else and the more popular it becomes, the larger the monthly lotto. The high end of projections have it up to $100,000 per monthly lotto. At NXT blockchain saturation levels, NXT itself will be at least 2x if not 4x. It all combines to help everything else – and not to forget about BTCD, which is getting an InstantDEX revshare.’

Half-anon Cryptocards available

The half-anon VISA cards are now available to order – but not yet officially launched. Coinomat writes: ‘We are waiting for a dozen successful orders and activations to announce it officially.’

Getting your own card is simple, just register on coinomat.com, click the ‘First Swiss Card’ menu link and follow instructions.

Cryptocard is a semi-anonymous way to cash out cryptocurrency to an ATM card. Photo id but no bank details are required, meaning that a resale market can provide a convenient and private way to move funds from crypto to fiat. Cryptocard was originally funded by the BTCD community, and Coinomat will integrate BTCD within 2 weeks, and then start integrating the other SuperNET coins.

VPN BOUNTY

James has organised a 10 million VPN bounty for a new dev to join the team.

‘I would like to offer a bounty to make VPN for non-Windows environment to link up to the VPNcoin Windows VPN. There are several methods possible. One is to have a separate VPN and bridge to the Windows. The other is just to connect directly to the Windows VPN from unix.’

There is a 10 million VPN bounty for a working solution.

BTCD and Nxt

A reminder about BitcoinDark and Nxt’s status as lynchpins of SuperNET, and the financial benefits holders will enjoy:

BTCD

  • 5% revenue share from InstantDEX
  • 5% revenue share from SuperNET
  • 5% staking interest

This week’s BitcoinDark Bulletin: ‘Privacy and Anonymity’.

Nxt

NXT_accepted-5_blue

5% revenue share from SuperNET goes to NXT core development. And InstantDEX fees are paid in NXT, because SuperNET has NxtInside. James writes: ‘At 50 trades per minute it saturates current NXT blockchain (makes NXT earn 10% per year), but NXT devs say they can boost this capacity pretty easily. With average fees of 6 NXT per trade that is 300K NXT per day or 15 million per month. So even at current ATH prices InstantDEX is trading at PS ratio of 5 and PE of 10.’

Nxt is clearly one of the few platforms that’s going to survive long term, making it not only a safe place in which to trade and park your funds but also a hugely prosperous one as well, once (as anticipated) it’s earning 10% per year.

If you are interested in using Nxt, visit the official website: http://nxt.org.
Get the latest Nxt news from http://test.nxter.org or join the movement @ https://nxtforum.org.

payexpo2015

Nxt is going to present the key speech for crypto at this year’s PayExpo 2015. Damelon writes: ‘I want to invite ALL Nxt related businesses to provide us with their promo materials and relevant information! We are not there just as the platform, you also can get your products and services out there! This Payexpo will have a separate part especially dedicated to cryptocurrencies!

http://www.goshowoff.com/ClarionConf/PayExpoFull2015/page.cfm/Link=28/t=m/goSection=4_28

‘We are co-organising this, so if you feel you want to help out with this and have workshop experience or knowledge: let us know! Also, help us raise the last 500,000 Nxt to go here. We already have gathered a significant amount thanks to all of you. Let’s get this last part together. Donation address: NXT-ZGDQ-W9Q3-YFK6-4L8F4.

Read more on the Nxt Forum here or join SuperNET Slack channel #payexpo to learn more.

SuperNET CORE coins

As the name UNITY suggests, SuperNET is not a coin but a cooperation between selected coins. If you’ve been following the SuperNET Newsletters, you will know that all SuperNET CORE coins have been chosen with great care. No copycats, no simple clones, no scamcoins pumped by a huge marketing budget: only truly innovative, useful coins with active developers.

Here they are in a flash: http://test.nxter.org/supernet-core-coins/

BITCOINDARKBITSTARBOOLBERRYCHANCECOIN
FIBRECOINNXT CRYPTOOPALCOINVERICOINVPNCOIN

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

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

 

SuperNET 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 CORE coins

As the name UNITY suggests, SuperNET is not a coin but a cooperation between selected coins. If you’ve been following the SuperNET Newsletters, you will know that all SuperNET CORE coins have been chosen with great care. No copycats, no simple clones of Bitcoin, no scamcoins pumped by a huge marketing budget: only truly innovative, useful coins with active developers. Here they are in a flash…

Latest addition: Syscoin

Nxt

http://nxt.org

Nxt is currently the frontrunning 2.0 cryptocurrency platform, meaning that it enables far more than simple cryptocurrency transactions. Nxt offers a wide variety of powerful blockchain-based features, both in the core and as 3rd party services. Nxt is where James, the inventor and lead developer of SuperNET, started his journey into the crypto world.

Nxt core functionality includes Arbitrary Messaging (uploading encrypted data to the blockchain); a decentralised Marketplace (think eBay for digital goods, without the fees and servers); the Asset Exchange (based upon what Bitcoiners refer to as ‘coloured coins’, with the ability to issue assets representing for example shares in a company, paying dividends to asset holders, etc); a decentralized DNS-system; crowdfunding – in fact a whole new Monetary System, for issuing new customizable decentralized currencies on top of the secured Nxt blockchain – and soon a p2p voting system and multisig transactions (allowing, for example, math-based escrows and Nxt / asset / Monetary System-coin holders to vote on whether to veto or recognize a transaction), and more.

Nxt is a platform, meaning it was designed to be built upon. James was one of the first people to see this, and his brainchild SuperNET has emerged from (and combines) many projects started on top of the Nxt blockchain. It was natural for him to base SuperNET on Nxt, and so the 1.0 coins in SuperNET all gain their 2.0 features from Nxt.

BitcoinDark

http://bitcoindark.pw

BitcoinDark (BTCD) started as a side project for James as programmer. As time went on, it developed into a whole new technology. Rather than being a simple coin, BTCD is now a whole anonymity ecosystem. ‘Teleport’ functionality makes it extremely difficult to trace transactions on the blockchain, and ‘Telepathy’ makes it nearly impossible to track them off the blockchain.

BTCD provides SuperNET with the anonymity required for secure private transactions. If Nxt is the 2.0 engine that gives users all the functionality they need, BTCD is the highway that connects all the different services available. It’s also the first coin to pay dividends to its holders. 5% of SuperNET revenue will go to stakers.

VeriCoin

http://vericoin.info

Will provide secure decentralized cloud storage for SuperNET users.

Current VeriCoin features include VeriBit – paying for anything with VeriCoin anywhere that Bitcoin is accepted; VeriSend – optional coin mixing for privacy; VeriSMS – a service that allows VeriCoin to be sent to/from nearly any cell phone in the world using SMS (text messaging). There will also be a special SuperNET feature – stay tuned for more information!

OPAL coin

http://www.opal-coin.com

OPAL has a number of features that fit with SuperNET’s goals. It implements Peter Todd’s stealth addresses so that users receive funds through the use of a public address; funds transferred to this address are not visible on the blockchain as they are sent to an alternative hidden address.

Opal drive enables decentralised storage of encrypted files, built on top of Storj‘s API. The project is under development and has received the help of Shawn, one of Storj’s core developers.

OPAL has also integrated colored coins and has encrypted messaging.

https://soundcloud.com/supernetradio/4-jan-15-interview-with-whit

BitstarCoin

http://bitstarcoin.com

BITS is a core ‘component’ of superNET.

Its purpose within SuperNET is to make available a network of ATM units to enable buying and selling of SuperNET currencies – as well as other cryptocurrency-related services than can be offered to ATM users.

VPN coin

http://bitnet.wang

The Chinese-developed VPN coin is closely connected to BitNET.

VPN coin will be the native currency of this network. BitNET is a cross-currency network that includes VPN capability, support for voice and video chat, file transfer, p2p domain and website creation, tipping and more.

https://soundcloud.com/supernetradio/simple-security-saturday-episode-3-vpn

FibreCoin

UPDATE, 09.03.2015:
Fibrecoin has joined the SuperNET core: Read about it here

FibreOS is an anonymous optimized and hardened Ubuntu operating system. The OS and Fibre Wallet data files can be stored on SD or USB, and leaves no trace on the host PC when unplugged.

FibreConnect is FIBRE’s encrypted messaging system. FibreLock is a security feature that fights keyloggers by removing the keyboard from the password entry process. FibreDark Wallet allows you to automatically connect to the Internet using the TOR Network, which will make your IP address and location hidden. FibreDark does not rely on TOR exit nodes, but has hard coded onion addresses that point to new FibreDark nodes. ZeroTrust is a trustless decentralized mixing technology, which makes your transactions 100% anonymous (according to the FIBRE Team).

https://soundcloud.com/supernetradio/fibre-coins-founder-developer

Pending…

Boolberry

http://boolberry.com

SuperNET is financially attached to BBR. The Boolberry tech is not implemented into the core yet.

Boolberry is a cryptocurrency based on CryptoNote technology. It uses ring signatures to provide anonymity for its users.

Ring signatures are effective because any one of a number of accounts could have signed a transaction, raising doubts about where the funds originated. Boolberry (BBR) avoids the blockchain bloat problems of other CryptoNote-based coins with an innovative form of blockchain pruning, reducing the blockchain by some 55%.

Although BTCD’s Teleport offers strong anonymity for SuperNET, this will be complemented by BBR; Boolberry transactions will provide on- and off-ramps for funds to move from the regular blockchain into BTCD’s anonymous ‘hyperspace’.

ChanceCoin

http://chancecoin.github.io

SuperNET is financially attached to CHA, but the lead developer has gone. jl777 has a big bounty for anyone who can continue the project. James writes:

If we get a java dev, it can be taken over. I can offer 1% of chancecoin to the new dev that is taking over. chanc3r said the tech was good.

Chancecoin was developed for the purpose of betting on dice rolls and other games in a decentralized casino. Casino gaming has a great userbase and decentralized gaming may soon become a core market for crypto.

Randomness is provided by published NY Lottery Quick Draw numbers, and owners of the coin are automatically invested in the house bankroll. Chancecoin’s protocol is built on top of the Bitcoin blockchain; the coins were created by burning Bitcoins during an initial proof-of-burn period.

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Coins outside the SuperNET CORE

As stated on http://www.supernet.org/en/home-of-the-supernet/what-s-supernet:

Only coins that bring one or more unique features to the network will be added to the core, though any other cryptocurrency can benefit from these features on a third-party basis. (For example, Litecoin would not be eligible for addition to SuperNET. However, it would still have access to Teleport, InstantDEX and other services).

In other words, any 1.0 crypto coin can enhance their wallet with SuperNET.

This will give them access to trading on SuperNET’s distributed exchange, all of its fully decentralized services and features, from the coins described in this article, other SuperNET CORE features as well as more 3rd party features developed for SuperNET.

The growing documentation of SuperNET API calls can be found here: http://wiki.supernet.org/wiki/API

SuperNET Newsletter #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

SuperNET Newsletter #9

Welcome to SuperNET!

supernet-newsletter

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

Topics

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

New core coin OPAL

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

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

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

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

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

SuperNET v0 client update

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

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

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

SkyNET December asset dividend

Codename: SkyNET (asset ID 6854596569382794790).

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

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

James writes:

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

Combine cutting edge AI techniques with blockchain technology.

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

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

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

The buywall is back

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

The current market price for UNITY is around 200 NXT.

SuperNET holdings

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

More on the value of future dividends

Re the dividends mentioned above:

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

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

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

James
###

Other announcements

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

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

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

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

Coinimal profit-sharing deal

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

######
Coinimal GmbH with SuperNET

www.coinimal.com

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

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

51% SuperNET
49% Coinimal GmbH

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

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

You can read more about Coinimal in this ANN.

Freebieservers

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

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

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

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

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

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

Pangea

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

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

5000bitcoins writes:

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

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

Jaynodes

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

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

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

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

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

Distributed consensus

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

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

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

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

Instant decentralized crosschain exchanges

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

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

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

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

You can read more here:

Development Update 

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

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

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

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

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

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

SuperNET related links

SuperNET news

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

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

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

Community

Supernet Forum
https://forum.thesupernet.org 

PM for an invitation to SuperNET Slack

SuperNET CORE coins

NXT
http://nxt.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

OPAL
http://www.opal-coin.com 

SuperNET related projects

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

Coinomat
https://coinomat.com

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

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

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

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

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

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

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

Coinimal
http://coinimal.com

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

Prediction Markets

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

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

SuperNET Newsletter #5

Welcome to another edition of the SuperNET newsletter!

TOPICS

  • Website
  • Beyond Bitcoin
  • SuperNET Cards
  • Chancecoin
  • VRC
  • Marketing
  • SuperNET Radio Network
  • UNITY price
  • BlockNET
  • Development update
  • Kademlia DHT’s role
  • SuperNET related links

Website

Lootz is currently building supernet.org.

Email addresses info@supernet.org and coins@supernet.org are working now. We are moving from thesupernet.org to supernet.org step by step…

Beyond Bitcoin

BTCD and SuperNET will feature on the Beyond Bitcoin podcast this Tuesday/Wednesday!

[UPDATE]:

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

SuperNET cards

The SuperNET cards (Nxt asset ID: 7110939398145553585) have been ordered!

SuperNET cards will be a way to bridge crypto into fiat. These cards are normal MasterCards and will have a $1,000 per day limit. At the moment these are ‘half anon’ cards: A photo ID card is required for but no banking information.

James comments,

half anon means that there is no requirement to link a bank acct/personal financial number to the card. however to get the bigger limits, the requirement for ID scan and utility bill could not be removed.

I expect a secondary market to form for these halfanon cards once issued. They have no risk to the one that signed up for it as it can be kept empty.

We continue to work toward full anon, but need to find a reliable vendor with acceptable limits and while we have candidates, the process is very slow. also, I think there is a good chance that there will be some independent vendors who can help, but this is all still being developed.

We will keep you informed and let you know when these ‘half anon’ cards are ready to ship.

Chancecoin

James’ funding request has been APPROVED.

We hereby welcome CHA as the newest SuperNET CORE coin.

Its features are described in greater detail in the last SuperNET Newsletter and on https://bitcointalk.org/index.php?topic=528023.0. CHA official website: http://chancecoin.com

### whale has negotiated 25000 CHA for 11.25 BTC, there are only 516,530 CHA total from its burn period.

chancecoin is a microcap, but with interesting tech and we plan to integrate CHA betting into the SuperNET GUI
###

VRC

VRC will be implementing the GUI and billing for the decentralised cloud storage enabled by the Telepathy network. The VRC devs will also be providing the ‘public face’ of SuperNET (since James has known to be a little cautious about that sort of thing). VRC’s Patrick, Doug and David are well known as some of the first crypto devs to reveal their identities publicly. In the future there will likely be many interviews, live events and other media where SuperNET will need a real-life representative.

James has also committed to developing new technological features with VRC in a previous deal, arranged before SuperNET was announced. These will offer new functionality to SuperNET when they are implemented, so inclusion at this point makes sense in any case. Read more here.

Marketing

BTCD is engaging a professional marketing company to help communicate the coin’s unique features and use-cases. SuperNET will inevitably benefit from this since it is one of the major ways in which users will be able to access different services with BTCD.

BTCD will have widespread appeal as a complete platform for secure, anonymous communication and transactions. Just some of the groups that we anticipate will be interested, plus potential applications, include:

  • Bloggers and journalists in ‘closed’ countries
  • Political activists in hostile regimes
  • Whistleblowers
  • Truly anonymous reviews and tip-offs
  • Anonymous donations to Wikileaks and mainstream charities
  • Secure business-to-business communications to prevent industrial espionage
  • Online gambling
  • Libertarians
  • Anyone concerned about intrusive state and corporate surveillance

SuperNET Radio Network (SNRN)

http://supernetradio.com has launched.

This is an initiative by kevondo and lootz. Kevondo writes:

### SNRN will provide each SuperNET coin and entity (Affiliates) with a Website, uniquely “Branded” to them individually. All sites will have radio broadcasting enabled, access to “On Demand” archived SNRN programming, an “Anon Unity Chat” IRC window, and Crowd Funding capability. By reducing the budgetary pressures of building and maintaining an array of promotional tools members can concentrate on creating content and actively promoting. SNRN basically provides all the tools needed to “Get the Word Out” by jump starting the promotion process.  Any other services such as Forums can be implemented upon request.

Affilate productions will be scheduled into the 24/7 stream of  “Flagship” Station supernetradio.com producing, for SuperNet/UNITY, the consistency of around the clock exposue while alleviating affilates from having to produce the volume of content to be effective in promotional ventures.

Particulars, Fee Schedules, Revenue Streams and Dividend Sharing details will be provided on http://supernetradio.net. Direct inquires can be sent to supernetradionetwork@gmail.com.
###

For the time being, Kevondo will be doing a live broadcast at 10 AM EST Monday to Friday, and past shows, interviews, and music will be streaming 24/7.

UNITY price

The recent bear market in Bitcoin has badly affected the alts, and there have been heavy sell-offs – including NXT and BTCD, as well as many NXT assets. This has opened the door to criticism about the tech, even though the same trend has affected almost all coins. James writes:

As the software gets more and more complete and it becomes clear to even the skeptics that it is just a matter of time before SuperNET is completed and working, the price will more fully reflect the value. Since I am doing something that hasn’t been done before, it is hard to accurately estimate time to completion, especially as I continue to improve things daily.

Remember that anybody can make any sort of crazy claim against me. I don’t have time to spend refuting all the silly FUD. For a while I was supposed to be some sort of pump and dumper, but it is hard to make any claim like that stick when I am not pumping nor am I dumping. I just keep coding and know that it is just a matter of time before the market catches up to what I am building. And now other coders are building on top of what I am building. GUI are being created. Websites and even new assets are being created and managed, etc.

For all the claims that I am dumping SuperNET, I can state affirmatively that I am only buying and have not sold any SuperNET/TOKEN. This reminds me of when I was buying BTCD at .00015 to .001, seems almost like I have an unfair advantage as I know the dev will deliver, while everybody else has some doubts… Considering the bear market everything has been in, including BTC, UNITY price is holding up pretty well.

BlockNET

Many of you will have noticed certain similarities between SuperNET and a new organisation called BlockNET. Whilst the latter is a constantly-evolving undertaking, it seems that there are several key differences. We would encourage you to visit the thread, ask questions and find out more for yourself about the relative approaches, if you are considering investing in one or both ventures. There has been much misunderstanding about both BlockNET and SuperNET and greater clarity will benefit everyone.

A key difference is the business approach. BlockNET is collecting money through their ITO to pay developers for their new software, whereas the SuperNET ICO funds are being held to provide stable value, reflected in the NAV (the value of SuperNET should not fall below the value of the currencies held). James is doing all the coding in return for an equity stake in SuperNET, and is also adding a large number of revenue-generating assets of his own (these total far more than the value of his own shares).

SuperNET ICO funds will also be used to purchase shares in coins and revenue-generating services. SuperNET is also entering into revenue-share agreements, without taking an equity stake in these. BlockNET will make money from the services it offers but the ITO money will not be used to purchase a stake in promising companies. SuperNET will also be returning income to coin communities, to stakers and for further tech development.

The philosophy of SuperNET is to align interests between SuperNET holders, coin communities and devs, and the companies that provide services. The money flow provides shared incentives for success, strengthening all of them and working for their mutual benefit. This business model was a conscious decision taken by James and offers a strong platform for future expansion.

Development update

James:

around 1000 new builds in last month. very busy coding

Development of the peer-to-peer network that will underpin BTCD and SuperNET has moved fast, with some fantastic advances. James writes, ‘I just finished rewriting Teleport using Telepathy and DB and now it’s 800 lines instead of 3,000. Once this is debugged, then all the other apps will come pretty fast as its just application level code without worries about system level, anon leaks, etc… getting close to code complete.’

As a brief overview/reminder:

  • Telepathy is a system of secure peer-to-peer communication
  • It is based on the Kademlia DHT, the same protocol used by BitTorrent
  • Teleport will also use this for anon crypto transactions
  • Telepathy is so secure that no one, including the sender, needs to know the recipient’s IP address. This offers a fundamental advance in privacy.
  • Telepathy uses ‘dead drop’ addresses that belong to no one. Messages are routed to these, and are handled by dozens of different nodes – but delivered to none of them.

There has been some misinformation spread about Teleport recently. To clarify, Teleport offers a completely trustless and decentralised off-blockchain exchange mechanism that is truly anonymous and private.

A white paper for Telepathy is available in draft form and will be published for review in due course.

Kademlia DHT’s role

DHT is the technology that enables Telepathy.

A Distributed Hash Table (DHT) is a kind of super-efficient look-up table that allows any node in the network to find the information it needs to route a packet to another node quickly.

The Kademlia DHT offers a couple of very interesting properties. Aside from being very efficient, it guarantees a packet will reach its destination due to the way it routes them (the ‘XOR’ metric).

Additionally, like other DHTs, the ‘map’ that shows where each node lies in network space is completely abstracted from the physical location of those nodes and their IP addresses. This is a little like the London Underground tube map: The map of stations bears little resemblance to the above-ground geography. It is simply a convenience to allow passengers to work out which line to use quickly and easily. So each node in the P2P network simply forwards a packet to nodes closer to the destination than itself – until the distance is zero, which means the packet has arrived.

In the case of Telepathy, since nodes are trying to deliver a packet to a dead drop address owned by no one, this will never happen. This does not matter though, since so long as the intended recipient gets to handle the packet, they will be able to decrypt and read the contents.

Close to the dead drop address, many other nodes are also being sent the packet – creating great uncertainty about which node it was meant for. An attacker cannot find out the IP address of the intended recipient, let alone read the content of the packet.

Unlike some detractors have claimed, this network is completely decentralised and peer-to-peer – like BitTorrent. IP addresses for nodes are known to others, of course (otherwise any routing would be impossible), but there is no correlation between a destination address and a node’s IP address. Users have a public account and a private one for secure communication – these private accounts are completely unlinked to your IP address.

A new feature will be group ‘mining’ of dead drop addresses which are close to many nodes, to create maximum uncertainty in the eyes of the attacker about who the packet was meant for.

Since these addresses are best found by brute-force calculation, the process is actually very like Proof-of-Work mining. Once a good location has been found, it can be shared amongst many nodes that are close to each other. Rewards may be paid for this useful mining activity. Of course, no node using these shared addresses will be able to read the contents of a packet unless it has been encrypted specifically for them.

SuperNET related links

Supernet Forum
https://forum.thesupernet.org

SuperNET news

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

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

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

SuperNET CORE coins

NXT
https://nxtforum.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

SuperNET related projects

Coinomat
https://coinomat.com

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

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

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

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

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

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

Prediction Markets

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

Affiliated websites (revenue sharing or partial ownership)

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

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

SuperNET Newsletter #4

Welcome to the SuperNET newsletter!

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

Topics

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

Chancecoin

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

[Funds Request]

James:

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

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

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

SuperTraders

[SuperTrader funds transfer notice]

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

James:

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

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

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

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

VRC funding request approved

The funding request announced in the last newsletter is approved.

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

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

NxtInside

NxtInside

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

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

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

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

SuperNET Client GUI

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

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

longzai_SN_GUI

BTCD and SuperNET

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

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

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

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

So how might it look in practice?

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

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

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

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

BITS ATM

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

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

Code review and Telepathy

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

James continues:

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

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

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

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

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

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

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

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

API calls and testing

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

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

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

SuperNET related links

Supernet Forum
https://forum.thesupernet.org

SuperNET news

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

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

SuperNET CORE coins

NXT
https://nxtforum.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

SuperNET related projects

Coinomat
https://coinomat.com

VRC
https://vericoinforums.com

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

CHA
http://chancecoin.com

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

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

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

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

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

Prediction Markets

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

Affiliated websites (revenue sharing or partial ownership)

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

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

SuperNET Newsletter #3

Welcome to SuperNET! 

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

Topics

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

Asset linkages

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

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

James:

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

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

NXTventure in SuperNET

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

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

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

ATOMIC

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

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

CryptAxe, creator of Atomic, writes:

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

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

[Funding Request]: VRC

James:

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

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

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

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

James

ATM support and Bitstarcoin

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

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

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

CryptoDevil writes:

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

T3CLtd announces:

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

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

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

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

SNN funding and distribution

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

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

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

The asset allocation is as follows:

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

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

SuperNET Radio

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

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

Some of the suggestions and points raised by Kevondo include:

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

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

SuperNETwork

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

James writes:

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

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

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

Development update

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

James writes:

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

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

Multisig

James:

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

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

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

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

The ‘last mile’

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

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

James writes:

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

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

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

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

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

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

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

SuperNET related links

Supernet Forum
https://forum.thesupernet.org

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

SuperNET related projects:

Coinomat
https://coinomat.com

VRC
https://vericoinforums.com

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

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

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

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

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

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

Prediction Markets

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

Affiliated websites (revenue sharing or partial ownership)

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

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

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