Quote from: Momimaus on November 12, 2014, 11:12:47 PM

Quote from: jl777 on November 12, 2014, 10:59:26 PM

Quote from: Momimaus on November 12, 2014, 10:41:44 PM

Quote from: jl777 on November 12, 2014, 06:49:34 PM

Quote from: Momimaus on November 12, 2014, 01:19:23 PM

Hey James,

are we satisfied with Instantdex. As I understand it is a centralised solution.
Looks like NODE is doing it decentralized. Their new algortihm is out and working. Of course till now with small amounts of transactions.
Maybe NODE will be a good additive to supernets core, by adding instant transactions.
Maybe you already know all of it, but if not, please take a look.

https://bitcointalk.org/index.php?topic=590421.0

disclaimer: of course I own some Node, but an irrelevant amount in comparision to my supernet tokens.

why do you think InstantDEX is centralized?
InstantDEX itself is fully decentralized. If you are trading things that are backed by MGW assets, then since MGW is distributed (between centralized and decentralized) arguably there is some risk from the distributed (vs decentralized) nature of the asset. However, there are also other types of ways instantDEX will clear the trades, including direct peer to peer.

We are looking into NODE, until recently I dont think they had things working

James

Alright, so instantdex works decentralized but only for assets on MGW, not for coins, right?
If it would NXT would have instant transactions already.

ok NODE is working, but with a handful of transactions nobody can say anything about scalability, and I don´t know exactly how they have done it.

I will separate out the trade clearing from the trading itself.
Similar to when you click on "Send", once it is sent to the network (barring rare events), it is just a matter of time to get onto the blockchain. But the funds have already been send the moment you click.

Does that make sense?

So, with InstantDEX, regardless of how long till the next block the two people trading with each other (directly) will both have broadcast their half of the tx to the network. Just a matter of time before it hits the blockchain.

Now, there will be a variety of ways to finalize the trade. Could be via NXT AE using MGW assets, could be direct wallet to wallet overlapped micropayment channels. That is totally decentralized and for any bitcoin fork that supports multisig. There are also ways of finalizing the trade via telepods and the upcoming ATOMIC.

James

P.S. Not sure if you understand that there are things like mgwBTC asset, which is 100% backed by multisig protected BTC,

Yeah it makes sense, so it is not finally on the blockchain but both sides are locked. The only disadvantage is that they can´t spend it instantly, they have to wait for the blockchain confirmation.

No I am not really into this MGW thing, but I will soon.

So if you say we don´t need an instant transaction coin anyway, then it´s fine for me. NODE was just an idea, cause I was following it.

Thanks for the lessons James.

NODE is so new and not sure of tech details, maybe they are able to scale, so let us wait for the tech analysis on it first