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Latest Stable Nxt Client: Nxt 1.12.2

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Topics - kwilliams

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Nxt General Discussion / Ardor Bundlers vs Dash Masternodes
« on: March 03, 2017, 07:35:12 am »
How's the new ardor "bundler" role compare to Dash Masternodes? Will the bundler be a separate network daemon running 24/7 on a static IP ? Will there be capital reserve requirements for being a Bundler?

In general it may be worth considering taking a page of Dash's playbook an incentivizing people to run nodes 24/7 for purposes other than securing the network. For example performing email relay, storing files off-chain or routing web traffic (all for a fee)


Account Control / Derived Keys
« on: June 19, 2015, 04:49:48 am »
NRS should be modified to allow creation of additional key pairs under the same account. They will derive trust from the main account (similar to SSL certificates chains) but have additional restrictions applied to them at creation. For example I should be able to create a "non-spending" keypair that is good for everything else except direct balance transfers. I would use it in my daily activities (sending messages, forging, transferring assets, etc) and even if private key becomes known, people wont be able to steal my balance directly.

Conceptually such keypairs would not be much different from aliases - they will all resolve to the same main identity but be used for different means. Each will have one or more standard policies associated to it ("Can transfer balance", "Can transfer asset", "Can forge", "Can pay network fee", etc). In addition they can have activity quotas ("max_per_block=3","max_per_day=50" which means the key can be used maximum 3 times per block and maximum 50 times per day (1440 blocks)). This is in case they get hacked, the owner will not be bled dry before he has time to revoke the keys.

The usefulness of such keys gets beyond simple security. For example I can create a "messaging only" key and give it to my marketing person to manage the communications of my account without having to worry about them getting hacker, etc. I can also have "asset trading key" which I give to a trading desk which is only interested in managing my asset portfolio (so they can sell my assets or transfer them out, yet have no direct access to my NRS balance)

Arbitrary Messages / Add new "Automated Message" flag to messages
« on: March 01, 2015, 08:45:44 pm »
It seems more applications are starting to use AM for storing internal data on the blockchain (example: multi-gateway) or as communication mechanism between their back- and front- end component. Such messages are not human-readable and decrease the value of AM as human-to-human medium (since they clutter various UI screens, notification mechanisms, etc)

The idea of "Automated Message" is adding an new flag to AM, so that a well meaning bot can indicate it does not expect the message to be read by a human recipient. Such messages should be hidden by default by the NRS UI (with an option to see them if end-user so desires)

This proposal stems from my experience using SuperNET, https://nxtforum.org/nxtservices-releases/diary-of-a-sceptic/

Alternative Names:
* System Message
* Internal Message
* Binary Message
* Bot Message
* Hidden Message

SuperNET Releases / Diary of a Sceptic
« on: February 16, 2015, 10:10:59 pm »
I’ve been a long time SuperNET sceptic, but finally decided to switch my home wallet from NRS to SuperNET. Goals:
a)   Toying with features, see if there’s anything for me.
b)   See what the hassles are

I ran it briefly a month ago as "end user", but now will be trying it in "server mode" (up 24/7, accessible from a number of machines - home network and EC2). What prompted me was the BTER mess.  I need a way of moving funds between chains (BTER was good while it lasted and so was GOX, lost money on both). Let's give MGW a chance to fail me too ... stay tuned

Nxt Monetary System / Proposal: indirect transaction fees
« on: February 14, 2015, 06:54:43 am »
 Allow MS currency users to pay NXT transaction fees indirectly (trough sponsors).

* Introduce two new MS currency flags: "sponsorable"  and "taxable"
* Sponsorable allows senders to avoid paying direct (NXT) transaction fees, in which case the fee is deducted from a well known (fixed) account (aka "the sponsor"). When sponsor runs out of funds ether a) more funds have to be added to sponsor or b) sender must pay the fee directly.
* Taxable means certain fee ("tax") is applied on each transaction and sent to a well known (fixed) account (aka "the treasury") in the form om MS currency.

Use cases:
* A group decides to create event currency (Chicago Pumpkin Fair). It's a sponsored MS currency. Sponsor account is loaded with enough NXT to guarantee operations. MS Currency is distributed during the event and used at different venues. Currency holders don't need NXT balances in order to transact.
* A group decides to operate sponsored currency for the long run. They set it up with 0.5% tax. Sponsor account is funded with some initial NXT balance. Once (MS currency) revenue starts flowing in, it is re-sold (for NXT) with proceeds used to fund the sponsor account. Currency users continue to transact without having to pay NXT transaction fees directly
* A charity decides to operate taxable currency with 15% tax. As currency circulates, tax revenue is channeled towards their goals.

* If sender pays transaction fees directly (thus opting out of the sponsorship mechanism), it may be excluded from paying additional transaction taxes.
* In most cases "the sponsor" and "the treasurer" may same as the currency issuer.
* the tax formula should be T = A+Bx with optional "between [Tmin, Tmax]" where "x" is the transaction amount in MS currency, A and B the coefficients (linear function) and Tmin, Tmax are overall tax boundaries   

In the grand scheme of tings the above method does not change the requirement to pay transaction fees in NXT. It simply provides more flexibility as to who pays the fee.

Alternate Cryptocurrencies / BitShares for NXTers
« on: February 08, 2015, 09:03:05 am »
Finally decided to play with BitShares. Got confused and posted on their forum. You may find this educational: https://bitsharestalk.org/index.php?topic=14114.0

Nxt General Discussion / Add web mail client to NRS
« on: January 31, 2015, 04:24:59 am »
How about we add a web mail client directly to NRS? A simple one: Inbox, Drafts, Junk, Trash and Sent Items. It should support IMAP & SMTP for reading mails and that’s about it.
Here’s why I think this is important:
  • Reading and sending email is something we do every day. The ability of NRS to function as web mail client, will increase the likelihood of it being ran on more machines.
  • It will make possible sending of crypto entities as attachments and their seamless processing on the other end. For example Bob sends a signed transaction to Alice to 1000 NXT (as attachment) which she has the option of cash in or discard (if she refuses the money)
  • NXT public keys can be used for signing emails
  • Emails can be sent to NXT aliases or even addresses

I know that writing a mail client in 2015 is not exciting, but at the same time email is one of the WEB’s core technologies and integrating with it could open many doors in the future.

Nxt General Discussion / ability to transfer Asset and Currency ownership
« on: January 20, 2015, 12:32:26 am »
Asset and Currency ownership should be transferable (like aliases) from one NXT account to another

Nxt Asset Exchange / Ability to broadcast messages
« on: January 20, 2015, 12:17:53 am »
We need the ability to broadcast messages to asset holders. The UX should be very similar to paying dividends: "select the block height, type the message and click [SEND]"

BTW, it can also be very helpful if one could include messages with dividend payments. For example: "2015-Q1 profit distribution", so that asset holders have an easy way to see what the payment was all about.

Finally, it would be nice if one could also send an invoice to asset holders - kind of "reverse dividend", where holders contribute funds back to issuer. This will allow the implementation of  various "capital increase" scenarios which can be very useful for certain business cases.

Nxt Asset Exchange / Problems when paying dividents
« on: January 17, 2015, 08:24:41 am »
I get this message "Could not verify signature (server side)." when attempting to pay dividends to an asset (using the 1.4.8 client). Any ideas what's wrong?

Nxt General Discussion / 629 currencies and counting ...
« on: January 11, 2015, 06:50:10 am »
There are already 629 currencies on the MS system alone. And it's not even 24 hours since launch. Compare this to the 411 assets that were ever created. It's insane and a sure sing of mania. I'm selling ... :-)

I believe LTC community is about to disintegrate:
1) Source mostly abandoned
2) Core devs apathetic
3) SCRYPT ASIC now a reality, knocked down one of the main arguments
4) Transaction speed pretty much the only remaining difference between LTC & BTC

I think we should put together a concentrated marketing effort to win them over as they abandon LTC. Talking points:
1) Like LTC, NXT seeks to amend the deficiencies of Bitcoin.
2) Like LTC, NXT believes that miner centralization is bad for the community. However, NXT was fortunate to realize that replacing one POW algo for another will not solve the problem.
3) Like LTC, NXT believes that 10 min between blocks is way to excessive for a modern crypto. Inspired by LTC, NXT adopted a 100s between blocks. (even if not true, sounds good for a lighter)
4) NXT now is where LTC was an year ago - still in the early adopter phase with plenty of room to grow. Unlike the old LTC, it proposes a genuine alternative to BTC. With the launch of the monetary system we need experienced lighcoiners to come over and help us design the currencies for the 21st century.
5) ...

Those of you visiting LTC forums, may start pushing the message.

Also we could create an exodus address in the LTC blockchain, where people can send their LTC and receive something NXT (asset or currency) in return (finally an use case for MS). It will stir noise and if successful, could provide a path for migrating other communities to NXT. Here's the pattern:

1) A troubled currency is identified, one abandoned by devs, with crumbling volume, value, etc
2) A "currency rescue effort" is announced by NXT, (at http://nxt.org/rescue, etc)
3) A "currency rescue team" is put together (after public debate) by NXTers and members of native currency.
4) An exodus address is created at the currency's native chain for people to burn funds in.
5) An MS equivalent for that currency is created on the NXT chain (resembling original currency as closely as possible).
6) The rescue team proceeds to monitor the exodus address and credit the newly arrived NXT-ers with the amounts burned.
7) Marketing makes happy noises.

Monetary System / Monetary System has no real use case?
« on: December 24, 2014, 03:00:43 am »
Can some one point me at a valid use case for MS, one which provides customer value and cannot be replicated with the already existing Assets?


Nxt General Discussion / Should aliases last forever?
« on: December 18, 2014, 06:53:49 am »
Aliases should not last forever

Alias owners should be required to renew every year or so, otherwise aliases are automatically released to the community.

The automatic release process should involve some lock-down period (few months), during which the old owner retains an exclusive right to renew.

Alias values should be reset to NULL during lock-down.

Ask yourself how many good aliases (such as "money", "freedom", etc) will be permanently lost due to abandoned NXT accounts, lost private keys, etc !

Renewal should cost money. Words as such belong to the all of humanity and perpetual ownership should be discouraged.

An "auto renew" flag should be available, allowing miners to automatically renew expired aliases, debiting the owner's account with the fee.

Further a process could exists for people to pledge funds (bids?) against obtaining an alias. The renewal price should depend on outstanding bids at time of renewal. Owner should also have the option to bail out, release the alias & collect the bids.

Alternatively the renewal fee could depend on number of aliases owned (going up). This is to discourage hoarding.

Aliases should be treated as digital goods and should be directly listable to owner's digital store.

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