jl777 [10:20 AM]
anybody that wants crypto777 for BTC I can do it at the current market rates as long as 1BTC or more
jl777 [10:21 AM]
there were some good questions about crypto777 monetization. With the power of crypto777, it will allow the creation of, how to call it, let us say "super assets"
jl777 [10:22 AM]
these assets will be able to be a normal coin, a normal asset, a hybrid, uses blockchain or lchain, or has very fast clock or high tx per minute, etc.
jl777 [10:23 AM]
so it will decentralize the development process of crypto networks, and currently even fully decentralized crypto are centralized via the devs
jl777 [10:24 AM]
so let us imagine 777 different crypto networks are spawned using crypto777 and the issuing fee (cash or percentage of issued/mined) is a simple monetization
jl777 [10:24 AM]
something not very noticeable to the issuer, but with hundreds of issuers, it will accumulate nicely
jl777 [10:25 AM]
and with the issuing process under user control, nothing is needed to be done and automatically the new superassets are arriving
jl777 [10:26 AM]
there are many more monetization possibilities as crypto777 is not any one dimensional thing, it is a platform agnostic technology that will allow non-coders to create custom crypto networks.
And of course all of this to be seamlessly integrated with NXT. Its not really sidechains, as I dont see a need to peg the value to NXT. Let the free market decide what each crypto777 superasset is worth and then it can be converted into and out of NXT automatic.
We want crypto to go mainstream, but what happens if it actually did?
lets say 1 billion people are using crypto. They do 10tx per day. ok, so 10 billion tx per day. This is like the biggest Ddos attack ever! any single crypto to absorb this would instantly become nonviable, even with fancy ledgerchains
The solution is to combine the NXT blockchain with something else that can handle the 10 billion tx per day. but since no single thing can handle anything close to that, we imagine that there will be thousands of private chains.
The interface between the blockchains will be much less than 10 billion tx per day and this is the territory of the decentralized exchange and also the reason I am spending so much time on InstantDEX, plus that is the killer app within the current crypto universe
James