NXT :: descendant of Bitcoin - Updated Information

[Anon136]

What actually makes NXT resistant against a +90% attack?

What's a 90% attack?

in essence the idea is that we could fork away and invalidate the stake of the attacker. where as with bitcoin you can not invalidate someones asics. technically though the abandoned fork would be nxt and the new fork would be nxt2. so if you want to be super literal than nxt isnt technically 90% resistant. Also this would only work if the attackers were being obvious. If they were clever about it than it would be very difficult to say conclusively enough that they were malicious. So nxt is kind of resistant to certain kinds of 90% attacks.

What possible purpose would that serve?

sure so like if some group of people formed a cartel with 90% of the stake and started forging empty blocks. we could just fork away and invalidate their stake.

Who is we?  What would be the point if "we" only has 10%?  Also why is it 90% and why would they forge empty blocks?  Other then forging empty blocks what can 90% stake do that's not agreeable to the minority?

we is you and I?

Because some powerful bank or government (but i repeat myself) wanted to kill nxt.

Doublespend.

[jl777]

Aha!

"When signing an input, the contents are set to the connected output. Thus, to redeem this transaction, the client creates a scriptSig containing zeros where the other signature should be, signs it, and then sets one of the slots to his new signature. The partially-complete transaction can then be sent to the merchant or mediator for the second signature."

It sure sounds like each gateway can each independently sign the withdrawal transaction and then pass it on to the next gateway. So with 5 gateways, it would take 5 blocks to get all the signatures required. ~5 minutes, but I think well worth the wait as this means fully automated trustless gateways can most likely be done!

Its a good thing transaction costs will be going to 0.1 as it adds up to at least 0.5 NXT just to get all the signatures.

Does anybody see a fatal flaw with this approach? I know we still have to deal with gateways disappearing, but it seems like we dont have to worry about gateways turning evil.

James

[bitarri]

I've been watching NXT for few days now and I've always had this question regarding adding NXT to Cryptsy as requested by 228 people here:
https://cryptsy.freshdesk.com/support/discussions/topics/44434

The NXT intro video says at 0:33 that we don't have to pay fees to exchanges like Cryptsy:
http://www.youtube.com/watch?v=ktMGC-Nq9Zo

Couldn't this be the main reason why Cryptsy hasn't added NXT yet?

[jl777]

https://en.bitcoin.it/wiki/Contracts#Example_2%3a_Escrow_and_dispute_mediation

"Trust minimization: trusted hardware
Using commodity hardware, you can use trusted computing in the form of Intel TXT or the AMD equivalent (SKINIT) to set up a sealed hardware environment and then use the TPM chip to attest that fact to a third party. That third party can verify the hardware was in the required state. Defeating this requires someone to be able to interfere with the execution of a program that may run entirely on the CPU, even in extreme cases without any data traversing the memory bus (you can run entirely using on-die cache if the program is small enough).

Trust minimization: Amazon AWS oracles
Finally, perhaps the most practical approach currently is to use Amazon Web Services. As of November 2013, the closest we have to a working oracle is this recipe for creating a trusted computing environment using AWS, built in support of this project for doing selective SSL logging and decryption. The idea is that an oracle, which can be proven trustworthy using the Amazon APIs with Amazon as the root of trust, records encrypted SSL sessions to an online banking interface in such a way that later if there is a dispute about a person-to-person exchange, the logs can be decrypted and the dispute settled."

[jl777]

On a completely separate topic, I have a supermicro 1U server with dual Xeon, dual Nvidia Tesla GPU, SSD's and 192GB of RAM. Its perfectly fine, but I dont seem to have any time to actually use it anymore. I used it to calculate SVM's on large datasets for predicting near future forex prices.

I know it isnt worth anywhere close to what I paid for, but I want to find a good home for it. If anybody is interested in such a rig, I am open to offers, PM me.

James

[Mario123]

I updated the links.

www.NXTclient.org

Please leave comments or suggestions!

Thank you for this. Really necessary right now, I hope you don't mind if I link it as default client-selection option in the spanish site main menu.

Of course, spread the link.

I updated it with a Nxt video (not mine).

edit: I think we need a new, updated video in this style! Salsacz!

[pinarello]

I updated the links.

www.NXTclient.org

Please leave comments or suggestions!

Thank you for this. Really necessary right now, I hope you don't mind if I link it as default client-selection option in the spanish site main menu.

Of course, spread the link.

I updated it with a Nxt video (not mine).

We need an new better video for NXT ASAP, they are using old logo's, etc...

[bitarri]

bump...

I've been watching NXT for few days now and I've always had this question regarding adding NXT to Cryptsy as requested by 228 people here:
https://cryptsy.freshdesk.com/support/discussions/topics/44434

The NXT intro video says at 0:33 that we don't have to pay fees to exchanges like Cryptsy:
http://www.youtube.com/watch?v=ktMGC-Nq9Zo

Couldn't this be the main reason why Cryptsy hasn't added NXT yet?

[Passion_ltc]

I updated the links.

www.NXTclient.org

Please leave comments or suggestions!

Thank you for this. Really necessary right now, I hope you don't mind if I link it as default client-selection option in the spanish site main menu.

Of course, spread the link.

I updated it with a Nxt video (not mine).

edit: I think we need a new, updated video in this style! Salsacz!

Set it up at /r/Nxt for the newbies.

[l8orre]

BINGO !
http://www.coindesk.com/cryptocurrency-auroracoin-every-person-iceland/

[Coinonaer]

Update Vircurex: Still nothing from there side, so no feedback from them regarding the missing deposit. 

[Come-from-Beyond]

How?  
What you want is called Secure Function Evaluation. Fully homomorphic encryption just means you can execute a function on someone else's computer and they don't know what you computed, but you still know everything. At least, in theory, in practice this is way too slow.  

http://www.proproco.co.uk/million.html -> unfortunately, Yao's solution is interactive (they require constant cooperation between all parties)
A possible solution is presented in http://www.iacr.org/archive/eurocrypt2000/1807/18070340-new.pdf

It's just a guess that we could use it for Mixing. Maybe we can't.

[jl777]

Update Vircurex: Still nothing from there side, so no feedback from them regarding the missing deposit. 

I tested a vircurex deposit and while nothing ever ended up in my vircurex acct, the deposit is just sitting there in the deposit address they gave me to use. Did you check to see if your deposit is in the NXT address you sent it to? If so, it could just be a delay caused by all the BTC problems. They are probably manually checking all withdrawals and maybe even deposits.

[Anon136]

I've been watching NXT for few days now and I've always had this question regarding adding NXT to Cryptsy as requested by 228 people here:
https://cryptsy.freshdesk.com/support/discussions/topics/44434

The NXT intro video says at 0:33 that we don't have to pay fees to exchanges like Cryptsy:
http://www.youtube.com/watch?v=ktMGC-Nq9Zo

Couldn't this be the main reason why Cryptsy hasn't added NXT yet?

no i dont think so. nxt simply isnt plug and play like other coins. thats why it isnt on cryptsy.

[qqNxt]

Happy Valentines Day Nxt! 



This is how i celebrated my Valentines day today.
By posting a love message on a Tall Billboard in central Melbourne City of Australia, to show how much i care!

Loves in the Air ♡♡


If anyone else want to try, you can send sms with two names with a space in the middle to 0499 695 683. Just add international code, can't guarantee it will work for overseas. (+61)

They will send back you the picture.

I did it by sending the msg "We Nxt"

[lophie]

I want to inform you all that bter indeed sent me my 100k already. Thanks for all that helped. So basically the drone in charge of support@bter.com cannot access any information and simply replies out of thier ass, After serious emails back and forth and many information submitted by from thier own systems, They gave in and actually forwarded my complain to the people in charge, was solved a couple of hours afterwards.

- Lophie

[kknk808]

I want to inform you all that bter indeed sent me my 100k already. Thanks for all that helped. So basically the drone in charge of support@bter.com cannot access any information and simply replies out of thier ass, After serious emails back and forth and many information submitted by from thier own systems, They gave in and actually forwarded my complain to the people in charge, was solved a couple of hours afterwards.

- Lophie

congrats

[CryptKeeper]

Happy Valentines Day Nxt! 



This is how i celebrated my Valentines day today.
By posting a love message on a Tall Billboard in central Melbourne City of Australia, to show how much i care!

Loves in the Air ♡♡


If anyone else want to try, you can send sms with two names with a space in the middle to 0499 695 683. Just add international code, can't guarantee it will work for overseas. (+61)

They will send back you the picture.

I did it by sending the msg "We Nxt"

+1

[NxtChoice]

Lots of great NXT websites and portals popping up all over the place!  You know what we need?  UNIFIED LOG IN.

Idea: NXT alias as OpenID extension.

Step 1:
Modify the OpenID Consumer architecture to validate a NXT alias with an Authorization token using custom URI scheme  (ie: nxt://alias/johnny_appleseed).  The Consumer in this case (ie: a website) would be able to authorize the user as alias using the NXT blockchain and would theoretically NOT NEED a Provider.

Step 2:
NXT Community website operate a 'real' OpenID Provider (for adoption and integration into the much larger OpenID ecosystem):
Something like http://www.nxtid.org/alias/johnny_appleseed (website invalid)

Step 3:
Spread the NXT URI scheme to OpenID RFC so it can be used anywhere OpenID is used!

Thinking out loud...  Hope that by posting idea here, someone else will do all the ugly work of actually making it happen!


edit: Since authorization tokens include a timestamp, access using a specific token could be restricted by age to increase login security.

A reference for you: https://nameid.org/

[marcus03]

http://holms.cloudapp.net:6874/ down?