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[Ardor] It's coming...  
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Riker

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Re: [Ardor] It's coming...
« Reply #40 on: January 11, 2017, 06:35:41 am »

Nxt 2.x will contain a Coin Exchange where users can trade child coins with each other.
Which chains will Coin Exchange transactions appear in?

You can issue a coin exchange from any chain coin to any other chain coin.
You specify amount and price.
Amount - the number of your coins that you want to exchange.
Price - is the number of your coins that you want to pay for one of the exchange coins. 
For example, if you are exchanging USD chain coins for BTC chain coins, the price would be the value of 1 BTC in dollars. 

Order matching works the same way as order matching of the current asset exchange.
In addition, each chain can now use different number of decimals, for example 8 decimals for BTC and Ardor, 2 for USD chain.
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ScripterRon

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Re: [Ardor] It's coming...
« Reply #41 on: January 11, 2017, 01:03:57 pm »

Nxt 2.x will contain a Coin Exchange where users can trade child coins with each other.
Which chains will Coin Exchange transactions appear in?
The transaction is in the chain for the coin you want to exchange.  The exception is that any exchange involving ARDR will be in the main (FXT) chain since ARDR exchanges affect forging and cannot be pruned.
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wolffang

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Re: [Ardor] It's coming...
« Reply #42 on: January 11, 2017, 07:24:19 pm »

Nxt 2.x will contain a Coin Exchange where users can trade child coins with each other.
Which chains will Coin Exchange transactions appear in?
The transaction is in the chain for the coin you want to exchange.  The exception is that any exchange involving ARDR will be in the main (FXT) chain since ARDR exchanges affect forging and cannot be pruned.

Please dont use Nxt 2.0 anymore as it is Ardor and looks like its a replacement of Nxt while it is not.

Also please dont use FXT anymore but Ardor.

Both were project codes because the name Ardor wasnt decided yet.

Thnx
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Brangdon

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Re: [Ardor] It's coming...
« Reply #43 on: January 11, 2017, 10:07:24 pm »

On spelling: am I right in thinking Ardor is the chain, ARDOR the token, and ARDR the ticker symbol? And similarly for Ignis, IGNIS and IGNS?
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P4ndoraBox

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Re: [Ardor] It's coming...
« Reply #44 on: January 11, 2017, 11:21:51 pm »

Is FXT Ardor or Ignis ?

https://nxtforum.org/nxt-helpdesk/ardor-total-supply-related-question/msg228808/#msg228808

Jose told me it is Ignis, here it is Ardor...
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P4ndoraBox

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Re: [Ardor] It's coming...
« Reply #45 on: January 11, 2017, 11:24:14 pm »

Is FXT Ardor or Ignis ?

https://nxtforum.org/nxt-helpdesk/ardor-total-supply-related-question/msg228808/#msg228808

Jose told me it is Ignis, here it is Ardor...

Edit : Guess it was a typo : Ignis was FNX
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Jose

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Re: [Ardor] It's coming...
« Reply #46 on: January 12, 2017, 08:03:34 am »

Yes, I made a typo P4ndoraBox. Sorry :-\

The result is as follows:
FXT = ARDOR
FNX = IGNIS
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asfd

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Re: [Ardor] It's coming...
« Reply #47 on: January 12, 2017, 08:45:46 am »

It is said that Ardor is a solution for the scalability issue, but I do not understand how. I know with Ardor you do not need to keep every single transaction on the blockchain file, but I think the real trouble is the capability of the network to process transactions, not to keep them in a hard disk.
Concretly, I want to know:
1. How many transactions per second will be able to precess a single childchain, for example, Ignis? More than NXT or equal?
2. Who is going to process (not to forge) the transactions of a childchain? Every nodes of Ardor?
3. Is it planned to have tranding capabilities, like high frequency trading, inside a childchain?
Thank you!
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martismartis

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Re: [Ardor] It's coming...
« Reply #48 on: January 12, 2017, 09:43:53 pm »

1. Knowing Ardor will bring assetA<>assetB trading possibility, in which token trade order transaction fees are paid. Assuming that assetA is on A child chain and assetB is on B child chain.
2. Will it be possible to trade tokenA<>tokenB and if yes, the same, in which token trading fees are paid? Assuming that tokenA is child chain A token, and tokenB is child chain B token.
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ScripterRon

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Re: [Ardor] It's coming...
« Reply #49 on: January 12, 2017, 10:45:51 pm »

1. Knowing Ardor will bring assetA<>assetB trading possibility, in which token trade order transaction fees are paid. Assuming that assetA is on A child chain and assetB is on B child chain.
2. Will it be possible to trade tokenA<>tokenB and if yes, the same, in which token trading fees are paid? Assuming that tokenA is child chain A token, and tokenB is child chain B token.
Assets are defined globally, they are not on a particular chain.  You can buy and sell an asset on any chain.  The prices are in the units for that chain.  That means the same asset can have different prices depending on the chain.  Which makes sense since the coins will have different values.

You may be thinking about exchanging coins from chain A for coins from chain B.  When you do this, you specify the number of chain A coins that you want to exchange and the maximum price you will pay for chain B coins.  For example, if exchanging USD for EUR, you could exchange 10.00 USD at a price of 2.00 USD/EUR.  You would be able to buy at least 5 EUR and possibly more depending on the exchange prices.

Your order would be matched with an order that wants to exchange EUR for USD.  Say that an existing order wanted to exchange 2.00 EUR at a price of 0.80 EUR/USD.  Which translates to 1.25 USD/EUR.  The exchange uses the price from the oldest order, so the exchange price is 1.25 USD/EUR.  You receive 2.00 EUR since that is all that the seller had available.  In return, the seller receives 2.50 USD.  His order is complete but yours is still open since you still have 7.50 USD available to exchange.
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martismartis

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Re: [Ardor] It's coming...
« Reply #50 on: January 12, 2017, 11:17:03 pm »

1. Knowing Ardor will bring assetA<>assetB trading possibility, in which token trade order transaction fees are paid. Assuming that assetA is on A child chain and assetB is on B child chain.
2. Will it be possible to trade tokenA<>tokenB and if yes, the same, in which token trading fees are paid? Assuming that tokenA is child chain A token, and tokenB is child chain B token.
Assets are defined globally, they are not on a particular chain.  You can buy and sell an asset on any chain.  The prices are in the units for that chain.  That means the same asset can have different prices depending on the chain.  Which makes sense since the coins will have different values.

You may be thinking about exchanging coins from chain A for coins from chain B.  When you do this, you specify the number of chain A coins that you want to exchange and the maximum price you will pay for chain B coins.  For example, if exchanging USD for EUR, you could exchange 10.00 USD at a price of 2.00 USD/EUR.  You would be able to buy at least 5 EUR and possibly more depending on the exchange prices.

Your order would be matched with an order that wants to exchange EUR for USD.  Say that an existing order wanted to exchange 2.00 EUR at a price of 0.80 EUR/USD.  Which translates to 1.25 USD/EUR.  The exchange uses the price from the oldest order, so the exchange price is 1.25 USD/EUR.  You receive 2.00 EUR since that is all that the seller had available.  In return, the seller receives 2.50 USD.  His order is complete but yours is still open since you still have 7.50 USD available to exchange.

Thank you for answering. But it's still unclear, in which coin order transaction fees will be paid for exchanging USD to EUR or vice versa? And will the exchange for USD to EUR will work like present currency exchange or like AE?
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ScripterRon

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Re: [Ardor] It's coming...
« Reply #51 on: January 13, 2017, 01:01:44 am »

1. Knowing Ardor will bring assetA<>assetB trading possibility, in which token trade order transaction fees are paid. Assuming that assetA is on A child chain and assetB is on B child chain.
2. Will it be possible to trade tokenA<>tokenB and if yes, the same, in which token trading fees are paid? Assuming that tokenA is child chain A token, and tokenB is child chain B token.
Assets are defined globally, they are not on a particular chain.  You can buy and sell an asset on any chain.  The prices are in the units for that chain.  That means the same asset can have different prices depending on the chain.  Which makes sense since the coins will have different values.

You may be thinking about exchanging coins from chain A for coins from chain B.  When you do this, you specify the number of chain A coins that you want to exchange and the maximum price you will pay for chain B coins.  For example, if exchanging USD for EUR, you could exchange 10.00 USD at a price of 2.00 USD/EUR.  You would be able to buy at least 5 EUR and possibly more depending on the exchange prices.

Your order would be matched with an order that wants to exchange EUR for USD.  Say that an existing order wanted to exchange 2.00 EUR at a price of 0.80 EUR/USD.  Which translates to 1.25 USD/EUR.  The exchange uses the price from the oldest order, so the exchange price is 1.25 USD/EUR.  You receive 2.00 EUR since that is all that the seller had available.  In return, the seller receives 2.50 USD.  His order is complete but yours is still open since you still have 7.50 USD available to exchange.

Thank you for answering. But it's still unclear, in which coin order transaction fees will be paid for exchanging USD to EUR or vice versa? And will the exchange for USD to EUR will work like present currency exchange or like AE?
When exchanging USD for EUR, the transaction is sent to the USD chain and the fee is paid in USD.  When exchanging EUR for USD, the transaction is sent to the EUR chain and the fee is paid in EUR.  It takes 2 transactions for an exchange and both parties pay transaction fees in their respective coins.  The coin exchange is similar to the asset exchange except there are 2 prices involved.  One way to look at it is that each exchange order contains a buy price and an ask price.  If you are exchanging 5 USD at a price of 2.00 USD, then your bid price is 2.00 USD per EUR.  Your order has an implicit ask price of 0.50 EUR per USD.  That is, you won't pay more than 2 USD for one EUR and you won't accept less than 0.50 EUR for one USD.
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P4ndoraBox

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Re: [Ardor] It's coming...
« Reply #52 on: January 13, 2017, 01:33:40 am »

Yes, I made a typo P4ndoraBox. Sorry :-\

The result is as follows:
FXT = ARDOR
FNX = IGNIS

No problem :)
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gh

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Re: [Ardor] It's coming...
« Reply #53 on: January 13, 2017, 02:56:12 pm »

.
« Last Edit: February 05, 2017, 05:35:23 pm by gh »
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Damelon

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Re: [Ardor] It's coming...
« Reply #54 on: January 13, 2017, 03:03:12 pm »

I have to say that the postings from ScripterRon are very informative and interesting to read - much appreciated. His postings could actually be used as source material for a new Ardor wiki? By the way, what should we call the new "system"? Is it NXT 2.0? I guess Ardor is only the mother chain in the overall system.

Nxt 2.0 is misleading, as it implies it supersedes Nxt.
Ardor was chosen specifically to make clear this was not the case. :)
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gh

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Re: [Ardor] It's coming...
« Reply #55 on: January 13, 2017, 03:36:54 pm »

.
« Last Edit: February 05, 2017, 05:35:15 pm by gh »
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MrCluster87

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Re: [Ardor] It's coming...
« Reply #56 on: January 16, 2017, 12:26:47 pm »

I see your point gh.

Nxt 2.0 is misleading, as it implies it supersedes Nxt.
Ardor was chosen specifically to make clear this was not the case. :)
OK, but then the Ardor name is ambiguous: 1) Main chain and it's token, 2) Overall system including all the child chains.

Brangdon

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Re: [Ardor] It's coming...
« Reply #57 on: January 22, 2017, 11:32:23 am »

Can you say anything about fee structure, spam, and account creation? It seems to me that pure child chain transactions, such as if I send IGNIS to you, should be able to have relatively low fees, because they can be entirely pruned. Where-as a transaction that creates a new account should have relatively high fees, because that account will take up storage forever. What happens if I send IGNIS to an account that doesn't exist yet? Does the account get created and I have to pay a high fee? Does the first transaction to an account have to include a public key attachment?
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ScripterRon

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Re: [Ardor] It's coming...
« Reply #58 on: January 22, 2017, 04:56:41 pm »

Can you say anything about fee structure, spam, and account creation? It seems to me that pure child chain transactions, such as if I send IGNIS to you, should be able to have relatively low fees, because they can be entirely pruned. Where-as a transaction that creates a new account should have relatively high fees, because that account will take up storage forever. What happens if I send IGNIS to an account that doesn't exist yet? Does the account get created and I have to pay a high fee? Does the first transaction to an account have to include a public key attachment?
The child chain fees are determined by the bundlers for that chain.  For example, an IGNIS bundler could accept transactions with a fee rate of 0.01 IGNIS.  That means a transaction which costs 1 ARDR will cost 0.01 IGNIS.  So a transaction costing 40 ARDR would cost you 0.4 IGNIS and the bundler would pay 40 ARDR.  Obviously, the bundler wants to also be a forger or have some way to recover the 40 ARDR cost.

Account creation is the same as in Nxt.  You do not need to provide the public key.  Even in Nxt, accounts are not permanent in that they will eventually be removed if they have no balances (the public key is retained however).  Accounts are global so you can create an account by sending a transaction on any chain.
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Brangdon

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Re: [Ardor] It's coming...
« Reply #59 on: January 22, 2017, 05:32:31 pm »

Account creation is the same as in Nxt.  You do not need to provide the public key.  Even in Nxt, accounts are not permanent in that they will eventually be removed if they have no balances (the public key is retained however).  Accounts are global so you can create an account by sending a transaction on any chain.
So I can create an account by sending 0.0001 IGNIS and it'll cost the same as sending to an existing account? Does this mean we won't be getting low fees on child chains?
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