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InstantDEX, formerly the secret project
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Author Topic: InstantDEX, formerly the secret project  (Read 66873 times)

lbjnext

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Re: secret project
« Reply #80 on: April 11, 2014, 01:08:36 am »

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LiQio

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Re: secret project
« Reply #81 on: April 11, 2014, 04:11:07 am »

很强大的样子 :o

你说是吧!

月球

更高

(I love online translate sites)

You must be dreaming

(I love google translate ;D)

我梦想着所有的时间  ;D

(hmm, we should stop derailing this thread... but then again, probably James will work even harder when he sees all the happy supporters!)

allwelder

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Re: secret project
« Reply #82 on: April 11, 2014, 08:15:20 am »

很强大的样子 :o

你说是吧!

月球

更高

(I love online translate sites)

You must be dreaming

(I love google translate ;D)

我梦想着所有的时间  ;D

(hmm, we should stop derailing this thread... but then again, probably James will work even harder when he sees all the happy supporters!)
我们喜欢你,james。 :D
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allwelder

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Re: secret project
« Reply #83 on: April 11, 2014, 08:17:50 am »

Time offline inspired me to a new approach, also CfB made super helpful suggestions
It seems testnet is still wonky, so I will see what sort of performance I can get with my new approach

James
great news.
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mczarnek

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Re: secret project
« Reply #84 on: April 12, 2014, 04:23:50 pm »

Curious though I'm not sure why you'd post something saying you're working on a project you are going to tell us nothing about :)
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jl777

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Re: secret project
« Reply #85 on: April 12, 2014, 04:51:08 pm »

Curious though I'm not sure why you'd post something saying you're working on a project you are going to tell us nothing about :)
I wanted to get some test results before making some crazy claims, because then it wont be so crazy :)
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rdanneskjoldr

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Re: secret project
« Reply #86 on: April 12, 2014, 05:28:49 pm »

You will really need to bring something sooo amazing after such hype...  :D :D
People tend to be upset after they had so big expectations
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jl777

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Re: secret project
« Reply #87 on: April 12, 2014, 06:12:15 pm »

You will really need to bring something sooo amazing after such hype...  :D :D
People tend to be upset after they had so big expectations

This is why I want to make sure when I announce details, it will be achievable and people wont get upset by letdown from big expectations

If people want, I guess I can post the type of project it is with the general goals, but wont be able to guarantee full achievement of the performance goals.

James
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Sebastien256

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Re: secret project
« Reply #88 on: April 12, 2014, 06:26:24 pm »

You will really need to bring something sooo amazing after such hype...  :D :D
People tend to be upset after they had so big expectations

This is why I want to make sure when I announce details, it will be achievable and people wont get upset by letdown from big expectations

If people want, I guess I can post the type of project it is with the general goals, but wont be able to guarantee full achievement of the performance goals.

James

If milestone are described togueter with a clear message right to it "at the moment this milestone is not garanty to be achieve". I think people will understand.

I think people will be more deceive if secret project is never disclose because it cannot be done. I mean I prefer transparency.  Now, it is like you said to community, I have a secret, but I don't tell you at the moment. That is not nice imo. In the first place, if you wanted to keep it secret, you should just have not said that you had a secret project. Im pretty sure you understand what I mean. Now everyone is eager to know what is going on! You are such a machine and everything you plan is awesome.

EDIT: I have to say I have enjoy all the .gif post here tho...

« Last Edit: April 12, 2014, 06:34:01 pm by Sebastien256 »
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jl777

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Re: secret project
« Reply #89 on: April 12, 2014, 06:35:26 pm »

The name of the secret project is InstantDEX

With the NXT AE people will be able to trade things, but there will be the blocktime to wait. 1 minute usually, but sometimes could be a lot more. Also 1 minute will feel like a really long time if the market is changing dramatically.

The goal of InstantDEX is to allow for realtime trading of any NXT asset against any other NXT asset (and NXT)
InstantDEX will be able to trade any asset, not just multigateway assets

I have achieved ~5 second times in my proof of concept, but that is not optimized, nor did it implement the full transaction cycle. Also, at these timeframes measuring a transaction really depends on if you count the time from you post a bid, it propagates, somebody immediately accepts it and the trade completes.
Or if you are measuring from when you accept an order on the books and it gets completed.

My goal is to do the former in the ~3 second timeframe. Initial versions will be slower. The multigateway will need to be trusted to redeem assets, but that is a trust level that I am assuming we will be operating with. Almost all of InstantDEX will be decentralized.

People with good internet connections will get better performance than people with bad internet connections.

James
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Sebastien256

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Re: InstantDEX, formerly the secret project
« Reply #90 on: April 12, 2014, 06:48:28 pm »

very interesting, indeed. What could not work in the project?
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jl777

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Re: InstantDEX, formerly the secret project
« Reply #91 on: April 12, 2014, 06:59:28 pm »

very interesting, indeed. What could not work in the project?
considering that it has never been done before, it is hard to say for sure
When speed and Internet are involved, it is always pretty messy

InstantDEX will build on top of multigateway and NXT AE, so it is definitely already mostly done :)

The biggest risk factor is that the times in some cases wont be quite so fast, but I believe for most of the people most of the time, the speed will be quite acceptable. Propagating the orderbook globally in a decentralized way and then confirming the order again in a decentralized way and achieving these times is the challenge.

I have tested the orderbook propagation and so the order confirmation is a similar problem. Then there is the detail of the actual exchange,but there are many ways to skin that cat, multigateway escrow, AT, Phaser, etc.

James
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apenzl

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Re: InstantDEX, formerly the secret project
« Reply #92 on: April 12, 2014, 10:24:14 pm »

This is a promising start  :)

allwelder

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Re: secret project
« Reply #93 on: April 13, 2014, 06:14:01 am »

The name of the secret project is InstantDEX

With the NXT AE people will be able to trade things, but there will be the blocktime to wait. 1 minute usually, but sometimes could be a lot more. Also 1 minute will feel like a really long time if the market is changing dramatically.

The goal of InstantDEX is to allow for realtime trading of any NXT asset against any other NXT asset (and NXT)
InstantDEX will be able to trade any asset, not just multigateway assets

I have achieved ~5 second times in my proof of concept, but that is not optimized, nor did it implement the full transaction cycle. Also, at these timeframes measuring a transaction really depends on if you count the time from you post a bid, it propagates, somebody immediately accepts it and the trade completes.
Or if you are measuring from when you accept an order on the books and it gets completed.

My goal is to do the former in the ~3 second timeframe. Initial versions will be slower. The multigateway will need to be trusted to redeem assets, but that is a trust level that I am assuming we will be operating with. Almost all of InstantDEX will be decentralized.

People with good internet connections will get better performance than people with bad internet connections.

James
good news,
It is open now.
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2Kool4Skewl

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Re: InstantDEX, formerly the secret project
« Reply #94 on: April 15, 2014, 04:50:19 am »

This will be a great addition to NXT's AE.  I'm looking forward to testing this out.  Thanks James and keep up the good work.
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shin

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Re: InstantDEX, formerly the secret project
« Reply #95 on: April 15, 2014, 09:31:54 am »

Wha.. what's this.. my.. my body...

A late dancer. Heh heh heh hehe.. get it? because it's a gif of.. someone.. dancing.. and it's a.. show.. which airs late at night.. oh well... :-[

Now. Where can I get my hand on this? :)
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Daedelus

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Re: secret project
« Reply #96 on: April 21, 2014, 02:37:28 pm »

I changed my mind   :D

It is integrating multisig into the client so we can all trade diffferent cryptos (and possibly fiat) with ease?   ;D ;D ;D

I was sorta right..... ::)

 ;D
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Daedelus

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Re: secret project
« Reply #97 on: April 21, 2014, 02:45:16 pm »

After much deliberation, for it's excellent representation of happy anticipation and carefree knows-good-things-come-to-those-who-wait, I declare farl4bit the winner  :D

Take it away....  ;D ;D







(I'm not just spamming the thread, I'll post something semi-useful soon  ;D)

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Daedelus

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Re: InstantDEX, formerly the secret project
« Reply #98 on: April 21, 2014, 02:55:28 pm »

For your review:

****
InstantDEX


InstantDEX is a service built on top of Nxt’s Multigateway service and Nxt Asset Exchange and has been shown in a proof of concept to have achieved ~5 second transaction times prior to any optimization. The goal of InstantDEX is to allow for real time trading of any Nxt Asset against any other Nxt Asset, not just Multigateway assets, and also NXT itself.

After optimization, the goal is to achieve transactions in the ~3 second timeframe. The Multigateway will need to be trusted to redeem assets but almost all of InstantDEX will be decentralized. Due to the nature of the transactions, those with good internet connections will get better performance than those with bad internet connections. InstantDEX is still in development and the discussion thread can be found at here [link to this thread].

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Source: Nxt Glossary >>>> https://wiki.nxtcrypto.org/wiki/Glossary
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jl777

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Re: InstantDEX, formerly the secret project
« Reply #99 on: April 21, 2014, 05:19:03 pm »

For your review:

****
InstantDEX


InstantDEX is a service built on top of Nxt’s Multigateway service and Nxt Asset Exchange and has been shown in a proof of concept to have achieved ~5 second transaction times prior to any optimization. The goal of InstantDEX is to allow for real time trading of any Nxt Asset against any other Nxt Asset, not just Multigateway assets, and also NXT itself.

After optimization, the goal is to achieve transactions in the ~3 second timeframe. The Multigateway will need to be trusted to redeem assets but almost all of InstantDEX will be decentralized. Due to the nature of the transactions, those with good internet connections will get better performance than those with bad internet connections. InstantDEX is still in development and the discussion thread can be found at here [link to this thread].

****
Source: Nxt Glossary >>>> https://wiki.nxtcrypto.org/wiki/Glossary
you need to add NXTsubatomic to InstantDEX!

InstantDEX is a realtime market where traders will be able to find other traders in a totally peer to peer decentralized manner. The NXT blockchain (at one per minute) is used to enter the InstantDEX market and from there you will be able to see the current orderbooks and find a trade to do.

Lets say you find a trade, but it is 5 seconds after the most recent block, so you will have to wait ~55 seconds to get the trade confirmed. However, it will take more than one block to get an escrow type of sequence in place, so while the trade was agreed to in realtime, settlement became pending until the deal was done.

I wasnt satisfied with this...

So, I did some research and in addition to being able to make some useful suggestions to jean-luc on enhancing the NXTcore to allow atomic transactions, I was able to figure out how to settle the trade at the 6 second mark!

That's NXTsubatomic. It is actually independent of pretty much everything, but by itself it is not so easy to setup as you need to tell it the exact trade parameters and the other party has to put in the identical (mirror image) trade parameters. Given a matched pair, NXTsubatomic will instantly setup a direct subatomic exchange of the specified crypto, directly from the crypto wallets. No middleman. No need to even make a deposit. No escrow. Just direct exchange with the other party.

It will be like in the movies where the bad guys are getting a money transfer and you see a progress bar as it completes. :) The actual time it will take to complete the subatomic is something I hope to find out today as I am about to finish debugging it. Have it almost working.

InstantDEX will be calling the NXTsubatomic to settle direct crypto to crypto trades. Things are still evolving so I am not sure of all the features InstantDEX will have at this point.

James

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