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Very interesting project, well done for the whitepaper 
I've read the whitepaper and I have a few questions:
In page 3 I was very puzzled about how the multisig configuration would work and I imagined something similar to what I found later in section 10. Maybe it's a good suggestion to add a reference to section 10 for the explanation
In the combination of multisig, how many keys are required to unlock the value sent? All the keys of the swarm plus Alice or Bob? Or is this an M-of-N configuration to prevent missing nodes?
Are all the required keys in one swarm/group sent to another swarm/group as backup before being sent to the users?
I understand one user creates an address to send and the other user constructs the private key to access the funds on that address
Which keys (public/private from who Alice/Bob) are signing on each part of the transaction? The steps in the graph confused me a little bit although I like the actual graph, kudos for it.
In page 5:
There is a mention to an image that is missing in that page. I imagine this refers to the image that appears at the top of page 4, is this correct?
Who creates the hybrid asset and why should I care about a specific asset or trust the issuer compared to another one? Is there any reputation system?
Who and how we set the exchange price of the hybrid asset among chains?
This is the part that I can't completely click in my head: if, for example, I create asset X in Counterparty for the value of 1 BTC and the same asset in NXT for the value of 1 BTC and tomorrow the price of NXT duplicates, then the value of my hybrid asset X in NXT is twice more valuable than my asset X in Counterparty. How do I sell/buy these assets to other people interested in buying the appreciated NXT?
Legal disclosure
I'm not responsible for any mental harm caused to any human or animal produced while reading any of my possibly stupid questions.
I've read the whitepaper and I have a few questions:
In page 3 I was very puzzled about how the multisig configuration would work and I imagined something similar to what I found later in section 10. Maybe it's a good suggestion to add a reference to section 10 for the explanation
In the combination of multisig, how many keys are required to unlock the value sent? All the keys of the swarm plus Alice or Bob? Or is this an M-of-N configuration to prevent missing nodes?
Are all the required keys in one swarm/group sent to another swarm/group as backup before being sent to the users?
I understand one user creates an address to send and the other user constructs the private key to access the funds on that address
Which keys (public/private from who Alice/Bob) are signing on each part of the transaction? The steps in the graph confused me a little bit although I like the actual graph, kudos for it.
In page 5:
There is a mention to an image that is missing in that page. I imagine this refers to the image that appears at the top of page 4, is this correct?
Who creates the hybrid asset and why should I care about a specific asset or trust the issuer compared to another one? Is there any reputation system?
Who and how we set the exchange price of the hybrid asset among chains?
This is the part that I can't completely click in my head: if, for example, I create asset X in Counterparty for the value of 1 BTC and the same asset in NXT for the value of 1 BTC and tomorrow the price of NXT duplicates, then the value of my hybrid asset X in NXT is twice more valuable than my asset X in Counterparty. How do I sell/buy these assets to other people interested in buying the appreciated NXT?
Legal disclosure
I'm not responsible for any mental harm caused to any human or animal produced while reading any of my possibly stupid questions.
Thanks! Mental harm? Au contraire, thank you for this useful input. The multisig protocol is worked out pretty well in an appendix/protocol paper that we are planning to publish somewhere the coming days.
I need to sleep now
but we will try to answers your other questions tomorrow!Hi, Jelle here. I'm currently helping the IoC organisation with the more mathematical parts and technical bits.
Yes, this is true. The system will try to automatically find a way to convert from cryptocurrency X to cryptocurrency Y, using hybrid assets.
But this should be (mostly) hidden for the user. You just see: convert Doge to Flappy.
You don't have to rely on the services of a trusted third party. However, the exchange is going to be governed by a decentralised service consisting of many nodes. So this is similar in spirit to how Ethereum works.
I think the bit of the white paper you are referring to here, tries to say that decentralized services are better than centralized.
I'll leave this one to the others to answer :-)
Don't worry about asking "ignorant" questions, it's up to us to make the story as clear as possible. Every question is welcome, this way we can learn what need to be explained better. So keep asking :-)
I think this project sounds very interesting. If I understand correctly, anyone could pay me in any cryptocurrency,
Yes, this is true. The system will try to automatically find a way to convert from cryptocurrency X to cryptocurrency Y, using hybrid assets.
But this should be (mostly) hidden for the user. You just see: convert Doge to Flappy.
and I would not have to rely on the services of a third party to exchange anything?
You don't have to rely on the services of a trusted third party. However, the exchange is going to be governed by a decentralised service consisting of many nodes. So this is similar in spirit to how Ethereum works.
And this would in turn increase the security? How, exactly?
I think the bit of the white paper you are referring to here, tries to say that decentralized services are better than centralized.
And doesn't this promote centralisation, if everyone uses this asset for their transactions?
I'm sorry if these questions are ignorant...I'm still new to the realm of cryptocurrencies.
I'm sorry if these questions are ignorant...I'm still new to the realm of cryptocurrencies.
I'll leave this one to the others to answer :-)
Don't worry about asking "ignorant" questions, it's up to us to make the story as clear as possible. Every question is welcome, this way we can learn what need to be explained better. So keep asking :-)
Hi,
Lost the passwd to my account and now I need to go through n00b jail. Oh well..
So I thought I'd spend some EUROs on an ASIC miner. But you know what, almost all machines will only arrive march or april. By then mining doesn't seem to be profitable anyhow. You get about half of the machine's worth the first month, then half of that the next month, etc. For most ASICs you won't break even! See for youself http://mining.thegenesisblock.com/
Cheers!
Lost the passwd to my account and now I need to go through n00b jail. Oh well..
So I thought I'd spend some EUROs on an ASIC miner. But you know what, almost all machines will only arrive march or april. By then mining doesn't seem to be profitable anyhow. You get about half of the machine's worth the first month, then half of that the next month, etc. For most ASICs you won't break even! See for youself http://mining.thegenesisblock.com/
Cheers!