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Author Topic: InstantDEX, formerly the secret project  (Read 24298 times)

costa2439

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Instantdex?, Distribute dividends in the future? Have I understood correctly?,
Is it spread over the asset exchange?

sorry for my English
 :P
yes the dividends will be distributed via asset exchange automatically.
for example if BTC revenues are coming in, then you would get BTC assets, which you can redeem via multigateway or simply sell for NXT on AE

Ok, thanks

xibeijan

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Pardon my skepticism, but this is starting to sound like ripple.  How decentralised is the final result?
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voldemort628

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so what was he original price of this asset?

was it 7.5nxt each as James mentioned earlier or the initial price was set by whoever selling it on AE?

jl777

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Pardon my skepticism, but this is starting to sound like ripple.  How decentralised is the final result?
direct peer to peer transactions is as decentralized as you can get!
I have solved most all of the design issues
Initially the only centralized part will be the UDP hole punching directory server. This is only there so that peers can find each other. All comms are fully encrypted, so once two peers can contact each other, no centralized server is needed.

Now some tx will be trading MGW assets and in that case it will be faster to just update the internal balances in the MGW server. You will have to trust the MGW server to redeem the assets anyway, so there is no additional trust required in this scenario. It will be possible to have an option to specify only doing peer to peer trading, but performance could be a bit slower in that case.

Not all of the details are finalized, but I am doing my best to avoid centralization. Not only is it the right thing to do, it minimizes the infrastructure costs required to run InstantDEX! So, both philosophical and profit motives drive toward full decentralization.

James

P.S. I have even figure out how to fully decentralize the UDP hole punch directory server, but it created some interaction bugs and since it is not germane to the core issue, I decided to do that after initial release. It really is a very lightweight process so no significant servers required. That is why I will be able to have each node be a directory server with just some additional synchronization packet traffic.
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jl777

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so what was he original price of this asset?

was it 7.5nxt each as James mentioned earlier or the initial price was set by whoever selling it on AE?
I give big discounts to early investors. 7.5 NXT was the big discounted price. There were small amounts sold at 10 NXT privately.The market opened at 15 NXT and has gone up from there.

James
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mczarnek

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Before any invests make sure you check out my theoretically attack on instant transaction aspect.. I'mean working with ChuckOne and mthcl to fix it.. but can'take be instant and secure just yet. . Might require waiting for a block or two given the current system.
Nevertheless a great project.

Read more under 'instant transaction proposal' in this same subtopic.
I believe I have solved the evil forger attack. Kudos to mczarnek for pointing out this evil, evil scheme!
https://nxtforum.org/instant-transactions/instant-transaction-proposal-1089/msg20183/#msg20183

I think the worst that happens is that after an average of 30 seconds to the next block you find out that an instant tx was aborted, but atomicity is preserved. Meaning, the trade either happens or doesnt. Unless evil bob is around the trade will succeed and I felt that anybody with enough NXT to forge a decent number of blocks wouldnt bother with cheating, I still wanted to close the window on evil bob's fingers. In a different thread someone pointed out that leased forging changes the equation and indeed it does, if we have an evil leasepool operator all of a sudden it becomes believable that he would stoop to stealing from poor Alice.

I am glad to hear feedback on my solution as I am eager to finalize InstantDEX coding.

James

Satisfied with the solution you found.  Congrats, didn't think you could do it!
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jl777

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Before any invests make sure you check out my theoretically attack on instant transaction aspect.. I'mean working with ChuckOne and mthcl to fix it.. but can'take be instant and secure just yet. . Might require waiting for a block or two given the current system.
Nevertheless a great project.

Read more under 'instant transaction proposal' in this same subtopic.
I believe I have solved the evil forger attack. Kudos to mczarnek for pointing out this evil, evil scheme!
https://nxtforum.org/instant-transactions/instant-transaction-proposal-1089/msg20183/#msg20183

I think the worst that happens is that after an average of 30 seconds to the next block you find out that an instant tx was aborted, but atomicity is preserved. Meaning, the trade either happens or doesnt. Unless evil bob is around the trade will succeed and I felt that anybody with enough NXT to forge a decent number of blocks wouldnt bother with cheating, I still wanted to close the window on evil bob's fingers. In a different thread someone pointed out that leased forging changes the equation and indeed it does, if we have an evil leasepool operator all of a sudden it becomes believable that he would stoop to stealing from poor Alice.

I am glad to hear feedback on my solution as I am eager to finalize InstantDEX coding.

James

Satisfied with the solution you found.  Congrats, didn't think you could do it!
My intuition is usually pretty accurate, but not 100%,so it is good to get confirmation!
I dont always know the exact path to a solution but I know that if I dont try my best I certainly wont find it
also, each step (failure) eliminates the possibilities until all you are left with is a path to the solution.

James
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Daedelus

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Hi,

Can you post the Reed Solomon version of the Nxt address used to issue your asset on the AE? (The version that looks like NXT-sdfcdD-2Dwwe- etc etc )

This is now default in the NRS v1.1.3.

Could you post it here for me to pick up later >>> https://nxtforum.org/asset-exchange-62/asset-exchange-ipos-launch-day-listings!/

Thanks  ;D
« Last Edit: May 15, 2014, 07:37:13 am by Daedelus »
NXT: NXT-4CS7-S4N5-PTH5-A8R2Q

costa2439

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something new
definitely when implemented

thanks

xibeijan

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Any development/testing news?
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superresistant

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Any development/testing news?

I would like to hear some news please.

jl777

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Any development/testing news?

I would like to hear some news please.
I am just about finished with Lchain MGW, so then I can move to finalizing InstantDEX. During this time, the GUI has been making good progress and we are even close to getting a Windows version, but the GUI and Windows are different parts from the core part

InstantDEX channel in SuperNET slack will have the latest info
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jl777

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current GUI demo https://vid.me/LVza
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superresistant

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Very well.

nzminer

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so what was he original price of this asset?

was it 7.5nxt each as James mentioned earlier or the initial price was set by whoever selling it on AE?
I give big discounts to early investors. 7.5 NXT was the big discounted price. There were small amounts sold at 10 NXT privately.The market opened at 15 NXT and has gone up from there.

James

Help, they have increased tenfold if thats the case!
I see they are worth $1.50 roughly now, i wish i knew about this asset earlier i would have bought a few!
NXT WILL PREVAIL
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xcn

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better buy now, it will jump tenfold after release ;)
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