Hi y'all,
I'm happy to answer any questions you may have about Nxt. If you've been listening to LTB in the last couple of months, you know that Nxt has paid for ad space and that a "Nxt Minute" has been running twice per week. Those are produced and voiced by yours truly.
I also administer the Nxt Wiki at http://wiki.nxtcrypto.org/ The wiki features lots of good Nxt info, as well as a FAQ at http://wiki.nxtcrypto.org/wiki/FAQ/
So: shoot. I'll answer here. And if there's enough interest, perhaps I can arrange to host a Google Hangout (or a series of them) to make this more interactive.
The LTB Network Forum
Nxt Q&A
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Posted on March 27, 2014 at 3:41 AM
Thanks for supporting LTB, I really enjoy your NXT Minutes. No real questions but I always enjoy it.
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Posted on March 27, 2014 at 4:55 AM
I've really enjoyed the "Nxt Minute" as well and have become very intrigued with Nxt all around.
Could you tell me more about what the Nxt Asset Exchange is capable of? Will there be Counterparty-like features that allow for things like distributing Nxt dividends? Will it be able to interface with other currencies directly or is the system intended to be more of the IOU system a la Ripple? Or are all the most exciting things still to come on a layer on top of Nxt?
Any light you can shed would be appreciated!0 likes -
Posted on March 27, 2014 at 6:40 AM
cc5alive said:Could you tell me more about what the Nxt Asset Exchange is capable of? Will there be Counterparty-like features that allow for things like distributing Nxt dividends? Will it be able to interface with other currencies directly or is the system intended to be more of the IOU system a la Ripple? Or are all the most exciting things still to come on a layer on top of Nxt?
The Nxt Asset Exchange is a core feature of Nxt that implements some basic transaction types:issuing assetstransferring assetsplacing market buy / sell orderscancelling buy / sell ordersAPI calls for getting information on orders, trades, and assetsAll other functions (dividends, etc.) are higher-layer operations, so Counterparty-like features would be built there. The most likely mechanism for this will be the Nxt Automated Transactions layer (Nxt AT), which will implement a Turing-complete scripting language that can be used to develop advanced financial instruments, DACs/Smart Contracts, escrow services, lotteries, crowd-funding, etc. It's essentially an Ethereum equivalent, and is being discussed on the nxtforum here: https://nxtforum.org/automated-transactions/
One very interesting "add-on" for the Nxt Asset Exchange has already been created and addresses one of your sub-questions: a multi-signature gateway system that uses sets of servers to implement trustless cross-chain transactions with other cryptocurrencies. Yes, you read that right. The gateway servers use the multisig capabilities of other cryptocurrencies (BTC, LTC, PPC, DOGE and DRK) to transfer coins from other blockchains to the Nxt asset exchange, and back again. The gateway servers themselves aren't truly decentralized (three specific servers constitute one crypto gateway) but when using them you can trust that the issued asset on the Nxt exchange is real. Ultimately, it means we've created a decentralized asset exchange that serve multiple cryptos. Discussion on this feature can be found here: https://nxtforum.org/multigateway-(third-party)/
Last Edited: March 27, 2014 at 6:42 AM0 likes -
Posted on March 27, 2014 at 11:43 AM
What is the NXT major devs plans now?
Be currency platform? Parallel chain? Or NXT Internet?
There are so many NXT devs planning, confused where its major devs Direction?0 likes -
Posted on March 28, 2014 at 3:27 AM
Agree what wwdz99 says. I am confused too.
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Posted on March 28, 2014 at 3:54 AM
wwdz99 said: What is the NXT major devs plans now?
Be currency platform? Parallel chain? Or NXT Internet?
There are so many NXT devs planning, confused where its major devs Direction?The problem with giving a firm release schedule for these features is related to the decentralized nature of the platform. Frankly, it's both a blessing and a curse: a blessing because the community is hell-bent on decentralizing all aspects of development, and a curse because not many people are used to working in such an environment. There are growing pains, but recently the community has gotten quite inspired by The Starfish and the Spider -- possibly even at the prompting of Mr Levine.
There is a tendency among some (mostly non-native English speaking) members of the community to market "existing", "in progress", "planned", and "theoretical" features together. I've made it my mission (as a member of the Nxt Marketing Committee) to clarify this as we move forward.
Let me sum up the road map as best I can, based on what I know. All things are subject to change.
Existing core features (on the main network) include:An audited cryptographic algorithm that forms the basis of the proof-of-stake blockchainTransaction processingCurrency-type transactionsAn alias system (which can be used to set simple aliases for account numbers, but can also be used to store URIs and facilitate decentralized DNS, etc.)An arbitrary messaging system (where the term "message" means "any data up to 1000bytes", so the possible uses are very broad)These core features are "done" and are in testing on the Nxt testnet:the asset exchangethe voting system (which can't be tested quite yet because no clients have implemented it)The Nxt core developers are currently dedicated to completing these core features in the next 2-3 months:account control (two-phase payments, leased forging, account locking)a reputation systemLonger-term core features are:blockchain pruningdigital goods storeparallel blockchainscompletion of a transparent forging implementation
Outside of the core, a number of other developers are looking at additional features, including:Automated Transactions (which hopes to eventually be considered a core feature, once design is fully completed)Multi-sig gateways for cross-chain transactions (an application built on top of the asset exchange)Payment modules for remittancesSeveral other people/teams are working on Nxt clients, many of which are already released.
As the community matures, it is beginning to formalize the development process: open issues are being tracked alongside the source code at https://bitbucket.org/JeanLucPicard/nxt/src , and a process for submitting and evaluating Nxt Improvement Proposals is in progress here: https://nxtforum.org/nxt-improvement-proposals/0 likes -
Posted on March 29, 2014 at 7:21 PM
Impressive!
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Posted on March 29, 2014 at 7:47 PM
@joefox Thanks for all the insights! This is sounding more and more fantastic than I already thought!
Gateway servers that use the multisig capabilities of other cryptocurrencies is mind-blowing.0 likes -
Posted on March 31, 2014 at 12:49 AM
After AE launched,
can we exchange anyother cryptocoins trustless or trustfull?0 likes -
Posted on April 3, 2014 at 2:11 AM
I got some nxt just to play around with the decentralized DNS system (like namecoin's .bit) - are there any clients that allow registering nxt's versoin of a domain.
I've read up on it here: https://bitcointalk.org/index.php?topic=323909 but haven't found any clients allowing me to test out the implementation. Do you know of any?
I'm also curious to see how the non-transferability of dns entries makes cybersquatting impractical.0 likes
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