U r right. Let's move back to dumb 1000 tps and see if we could have them even with our Scripts.


Why do u need EC or SHA256 to pay dividends?

Nah, I'll be slacking off like today for the most part.

More seriously, XCP is part of my overall strategic plan for NXT.
NXT is second gen crypto, so clearly all other second gens are potential rivals. Now some like XCP could be our allies. gotta choose wisely.

Read mastercoin main thread: https://bt.irlbtc.com/view/265488.0
Compare to counterpary main thread: https://bt.irlbtc.com/view/395761.0

XCP already implements what mastercoin is supposed to release later this month. They have a large feature set overlap. XCP is just more reliable, but it costs less. OK so it should dominate mastercoin and I intend to help it do so. XCP will keep mastercoin busy so NXT doesnt have to worry about mastercoin.

emunie is now ripple 2.0, just without any VC and a total dev staff of 1. Long time loyalists are bailing, oh yes, closed source and unproven price fixing model with 50% postmine. I am not so worried about emunie.

Etherium has big money behind it already. It is the biggest threat to NXT by far. We need to work together to make sure that technically there isn't anything etherium can do that NXT cant. We still have a chance to beat etherium to market with actually useful stuff, like trustless decentralized exchange of all cryptos

I am more of a vision guy, I can see the high level stuff pretty good, but the details I make mistakes. Luckily there are many here who see what is wrong with what I am proposing and the end result is a technically accurate solution that makes sense from a high level. I include overall marketing and investor perception in my high level assessments.

2014 will be the year of second gen cryptos. NXT and XCP are the ones that I have put virtually all my net worth into. Crypto is my fulltime job. Eventually I will have just a bit more XCP than NXT (as far as percentage of total) In my mind we are in a battle against the others for mindshare, marketshare and investments

Just remember, I am one of the weaker tech guys on the NXT team. I am serious about that. There are many devs here much better than me. And I cant even tell how much BCNext is better than me, he is so far above my skill level.

James

I don't know about what would be needed to pay dividends - I was simply thinking of something like basic Bitcoin scripts (as presumably you'd want this "language" to be able to do useful little things like "cross-chain" atomic txs).

So you would trust centralized exchange where you have no visibility and single point of failure over open source published code (services) running on 100+ servers? XCP implemented a BTC burning mechanism that was totally automated. It monitored blockchain and automatically credited XCP to bitcoin addresses that burned to a specific address. Over 2000 BTC and when problems happened the XCP devs answered support requests via forum.

So clearly it is a matter of exactly what services are being handled and how well it has been tested. In any case, nobody is forced to use any of these services. If nobody is capable of writing proper blockchain scanning code with the proper error checks that gives a better user experience than the current centralized exchanges, then people wont use the automated exchange that much.

However, please imagine what if someone would be able to actually write automated gateway code that was reliable and didn't lose deposits? What if it just worked?

I have 100000 NXT bounty for such a solution. After it is thoroughly tested will you keep using centralized exchanges? Probably so, but I only project 10% of total crypto volume will use this, so you will be in the 90%. That's ok

James

https://en.bitcoin.it/wiki/Atomic_cross-chain_trading ?

https://en.bitcoin.it/wiki/Contracts#Example_5:_Trading_across_chains

Relevant?

I've read it but didn't find what prevents a hacker from using the same shared secret from sending Bitcoins to himself. Nxt Scripts don't know in advance whom to send bitcoins. Will dig deeper later.

Zero knowledge proof to binding?

I'm outta my depth here...

Like I said, guys smarter than me need to figure out all the details. All I know is that it is possible. Hell, I saw linux written in javascript boot up in my browser today.

If that is possible, then all this other stuff has to be possible too.

Just have to ask the right guy the right questions until the answer goes from "impossible" to "really difficult"

I am trying to define a set of features that builds on top of the current NXT core,with minimal changes to the core itself that we can develop different pieces in parallel and that will create a way for further addons to be developed with minimal effort. Once we can have several reference implementations of useful addons for each of the different layers, then more and more people will be able to quickly develop solutions that previously were impossible.

NXT already has decentralized distributed storage. Add decentralized distributed Turing scripts combine it with a large set of NXT hub services, then the total possible solutions grows exponentially, even the work required only grows linearly.

We have the funds to finance this development in parallel with the already existing development in the core. Why should we wait to start building the addon stuff?

Anybody want to wait before we start adding new capabilities to NXT? Notice I am not expecting jean-luc to do any of this, so his schedule will only be affected minimally.

Do we need to run a poll to see if I should stop pushing for NXTlayers?

James

+1



If it works with multiple chains, we should go for it. Otherwise, maybe focus on stuff what made Nxt so great in the first place: transparent forging  / 1000TPS. Right?