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I have issued the crypto777 asset: 13476425053110940554

We are still in early stages. This is an ambitious project whose goals are for solving of the remaining unsolved issues that blockchains have, eg. bloat, inconsistent blocktimes, backed and pegged fiat, etc.

To do this it will be necessary to create a modular system that allows for experimentation and modeling. I am happy that Consensus Research will be doing the theoretical side, including white paper so I will be able to concentrate on the coding side.

I am in the process of recruiting a small number of high caliber devs to help, nothing official yet, but there is a promising deal in progress.

James

It is still a ways away from being practical to do, but it will take some time to get ramped up for the selling of consulting services.

I am seeing literally dozens of companies getting millions of dollars, and the tech they are needing doesnt seem to be very much advanced

so, I think with the crypto777 agents system, it would be possible to create customized solutions for corporates
especially the ones with tons of VC money and not enough devs
I need somebody to take the lead for developing this service. We can offer fixed price contracts (for projects with very high confidence levels) so there wont be any budget risk

I think contracts in the $50,000 to $100,000 range are possible

such contracts at first would need to be done by myself, so clearly cant get this sold in the near term
then again, maybe if we had budgets like that, we can hire coders to work under my guidance
net profits would be going out as dividends

so if you have experience with technical sales to corporates, contact me
I think some sort of bounty for business brought in and/or percentage of deal flow makes this worth the while of someone who already has the contacts

And if you have experience managing dozens of coders doing half a dozen projects, then this could ramp up into a nice amount of business

James

Quote from: jl777 on April 16, 2015, 09:30:43 pm

We are still in early stages. This is an ambitious project whose goals are for solving of the remaining unsolved issues that blockchains have, eg. bloat, inconsistent blocktimes, backed and pegged fiat, etc.

Is this a blockchain crypto or a non blockchian crypto?

yes

Quote from: jl777 on May 25, 2015, 06:26:25 pm

Quote from: gs02xzz on May 25, 2015, 06:16:56 pm

Is this a blockchain crypto or a non blockchian crypto?

yes

You meant this is a crypto with a blockchain?

both would be possible

If there is a schedule out, please let us know.
I think we need something to expect.

the goals of this project are to solve the major remaining unsolved things in crypto. There is no way to put this on a schedule. Plus I need to finish all the current projects before I can concentrate on this, though whenever possible I am implemented the things needed for crypto777 to solve the current projects

As to the backed and pegged asset, we should learn something from Bitshares and Nubits. They both encounter some problems.

exactly

As to the collateral:
Maybe NXT or other currency can be used to be the collateral. And we need a rule to keep the new asset under good collateral.

the collateral will be blockchain enforced

As to the peg:
Market make or market rules will work. A very important problem is to give large liquidity when people need it, and call back liquidity when people do not need it.

I am trying to make a system that is fully liquid at all times, though some amount of time delay will probably be necessary. Consensus Research will be doing the white paper and all these details will be analyzed and optimized

Just my 2 NXT. Maybe you have more ideas already.

thank you!

And how do you think about it, if most of the asset not sold?
will the rest coins be burnt?  (except some to award the Team)

And how do you think about it, if most of the asset not sold?
will the rest coins be burnt?  (except some to award the Team)

We have already raised the amount needed to complete the tech, as I am working without salary, but I dont have any office space expense either. What this means is that there is no "burn rate" and time is our friend. Even if we are ahead of time for the marketplace, we will last long term and will be there when the time is right in the market.

Consensus Research is working on a milestone basis and will be able to earn up to 10% as I want to fully support the excellent research they have been doing. There is also another 10% allocated for the marketing side.

Already I have donated ~25% to SuperNET and another 7.5% + 7.5% + 5% for dividends and JLH

So there really are not so many assets left and certainly none will be burned

James

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Very exciting news! I'm glad CFB is helping out, James.

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