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Author Topic: Important API Questions  (Read 1454 times)

AltcoinWarrior

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Important API Questions
« on: February 22, 2018, 10:41:21 pm »

Admittedly I am not a coder/programmer… not even a little bit. I’d be mighty grateful if a Nxter who’s intimately familiar with the NXT API could help clarify the crucial details minus the coder lingo.

Q: Can the NXT API be set up in such a way as to have fully-automated scheduled dividends occur at certain block heights if/when the NXT balance in the Asset Issuer wallet is greater than the pre-defined minimum threshold?

Case-Use Example: Every 1440 blocks forged, it checks the NXT balance in the Asset Issuer wallet. If balance > 1001 NXT, then it issues a dividend; if balance =/< 1001 NXT, then it waits another 1440 blocks, while the wallet continues forging away.

Q: Also, Can the API be set up in such a way as to additionally have scheduled MS token dividends occur at certain pre-defined time intervals (i.e. certain holidays), whereby also triggered by a minimum threshold-crossover event?

Q: Will NXT API &  NRS continue with (at least bug-fix) support after July 2018?
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blackyblack1

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Re: Important API Questions
« Reply #1 on: February 25, 2018, 06:41:54 pm »

Q: Can the NXT API be set up in such a way as to have fully-automated scheduled dividends occur at certain block heights if/when the NXT balance in the Asset Issuer wallet is greater than the pre-defined minimum threshold?
Yes.

Q: Also, Can the API be set up in such a way as to additionally have scheduled MS token dividends occur at certain pre-defined time intervals (i.e. certain holidays), whereby also triggered by a minimum threshold-crossover event?
Yes.

But I assume you are asking the wrong questions.
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AltcoinWarrior

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Re: Important API Questions
« Reply #2 on: February 26, 2018, 03:46:35 am »

Thank you for clarifying those ?'s.

But I assume you are asking the wrong questions.

Fair enough, since I don't know what I don't know... so what questions should I be asking along these same lines?
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blackyblack1

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Re: Important API Questions
« Reply #3 on: February 26, 2018, 05:17:20 am »

But I assume you are asking the wrong questions.

Fair enough, since I don't know what I don't know... so what questions should I be asking along these same lines?
You should be asking if it is possible without full control of the entire funds by the single entity. Answer: still yes, with account control enabled.
Or if it is possible without any way to steal funds in a fully decentralized manner. Answer: no, requires some addon to the code like smart contracts or automated transactions.
Or if it posdible to do without a server. Answer: no, maybe automated transactions allow so but even smart contracts require someone to start the check to process the script.
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AltcoinWarrior

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Re: Important API Questions
« Reply #4 on: February 26, 2018, 03:49:00 pm »

You should be asking if it is possible without full control of the entire funds by the single entity. Answer: still yes, with account control enabled.

And that's with no additional code/plugin required?

So, above the 1 NXT tx... what additionally (if anything) would this account control feature cost per dividend transaction?

Or if it is possible without any way to steal funds in a fully decentralized manner. Answer: no, requires some addon to the code like smart contracts or automated transactions.

Would the code required be extensive or relatively straight-forward and simple for a competent dev?

Or if it posdible to do without a server. Answer: no, maybe automated transactions allow so but even smart contracts require someone to start the check to process the script.

This was one question I actually did give some thought to.

Albeit not being a coder, I (perhaps wrongly) assumed that the code would have to be installed on a dedicated server/node.

What you're perhaps implying, is that this is not necessarily so?

If automated transactions can be initially "jump-started"once, then externally controlled via  a smart contract to process the script (i.e. the most efficient solution requiring the least amount of human intervention aside from creating the script itself)...

That would be utterly AWESOME, whereby confirming my suspicions: that a Decentralized Autonomous Company (DAC) is indeed possible with NXT! ;D 8)

So if not via a dedicated server, would the automated transaction script reside in the form of an NRS wallet plugin... or how would you envision it working?
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blackyblack1

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Re: Important API Questions
« Reply #5 on: February 26, 2018, 04:12:15 pm »

You should be asking if it is possible without full control of the entire funds by the single entity. Answer: still yes, with account control enabled.

And that's with no additional code/plugin required?

So, above the 1 NXT tx... what additionally (if anything) would this account control feature cost per dividend transaction?
I think there is dedicated tx type of dividends paying. So it should cost 1-10 NXT above to pay for account control but you should not pay for each additional recipient.

Or if it is possible without any way to steal funds in a fully decentralized manner. Answer: no, requires some addon to the code like smart contracts or automated transactions.

Would the code required be extensive or relatively straight-forward and simple for a competent dev?
That's very complex task.

Or if it posdible to do without a server. Answer: no, maybe automated transactions allow so but even smart contracts require someone to start the check to process the script.

This was one question I actually did give some thought to.

Albeit not being a coder, I (perhaps wrongly) assumed that the code would have to be installed on a dedicated server/node.

What you're perhaps implying, is that this is not necessarily so?

If automated transactions can be initially "jump-started"once, then externally controlled via  a smart contract to process the script (i.e. the most efficient solution requiring the least amount of human intervention aside from creating the script itself)...

That would be utterly AWESOME, whereby confirming my suspicions: that a Decentralized Autonomous Company (DAC) is indeed possible with NXT! ;D 8)

So if not via a dedicated server, would the automated transaction script reside in the form of an NRS wallet plugin... or how would you envision it working?
Smart contracts do not allow so. I'm not sure how automated transactions work. I just recall it was designed as an alternative to smart contracts and I suppose they could allow to implement something like this. Yet there is no existing feature to implement serverless protocol you envisioned.
If we implement your idea as smart contract it would be serverless and trustless but would require someone to kick the smart contract eventually.
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