I’ve taken your scenario, and I thank you, I think it’s the most beautiful question I’ve had since the beginning of the crowdsale, and I appreciate your discipline and the fact that your questions are organized.
In our typical scenario, user A has BTC and wants to buy ETH, and user B has an ETH and wants to sell them for BTC.
At any given time User A shall submit an order expressing its intention to purchase 100 ETH @ 0.1 BTC / ETH prices
The order will be the procedure of creating address 2of2
The validator part in the wallet named safe browser will create a 2of2 address with the amount, price, ETH reception address, it will call the smart contract encrypted in double sha 256.
The private key of the address will be stored in the safenet
The decryption key for the private key that is stored in the safenetwork will be stored on a blocked encrypted blockchain this blockchain is the inverse of a standard blockchain it encrypts the information.
The mini blockchain will place the order in the order book
The mini block chain has the role of syncronizing the wallets and it allows communication between them.
At another time, User B will issue an order to sell 50 ETH Awards @ 0.1 BTC / ETH
The validator part in the wallet named safe browser will create a 2of2 address with the amount, price, ETH reception address, it will call the smart contract encrypted in double sha 256.
3.Calculation Exchange Procedure
* The mini block chain will detect the deal by logical price
* She will call the two smart contracts that will be compared
* At the end of this verification, the active wallet will engage the safebrowser
* The safebrowser vas creates the ultimate smart contract that will be named the smarcontract swap
* The smartcontract swap will compare the amounts to deduct the excess with the exchange addresses.
* The excess will remain on the smart contract which will be returned on the safenetwork waiting for another deal the ride will be 0.04994 btc all from hangs from sending fee.
* The smartcontract swap will be copied into 4 online wallets in case of disconnection, the blockchain will specify the wallets online in a way aleatoir.
* It will take 4 copies of the smart contract for the deal to be realized, once synchronised the smartcontract swap realises the swap en then is deleted.
* Arrive at this stage the smart contract will be deleted.
This is where my logic model stops because for the following I am in test phase for the 0conf.
From here I can not continue to answer because the logic of your question does not have the logic of the functioning of the validator, I hope to have helped you and I ask you to take in concideration model j atend with pleasure the following Of your questions.
Your post just boosted me, I thank you really, it was a very emotional moment that made me think of an episode of dragon ball Z, and that the survival of the universe depended on me, it is like if I was sangohan and I had to beat cell, and everything depended on my will to win. Thank you so much.
I’m a dragonball fan too. I read your post mentioning it before and it gave me hope that you do have the will to pull it off - lol - well you anyway … don’t know about the rest of the NVO team yet.
The difference is, David and team presented detailed white papers, years of research material, presentations and David responded calmly and in detail to the many questions. That latter in particular sold it for me and I happily invested in to him and his plans.
Fair enough … however SafeNet is a much larger project and is attempting something that hasn’t been done before … and while a decentralized exchange is a relatively new idea, it’s not unique … e.g. open-bazaar, NXT’s decentralized exchange as other examples. David is also a native english speaker … so all in all I, personally, would allow some leeway in terms of up-front expectations and I think they’ve put in a lot of work toward their goal … not saying of course that they are anywhere near it yet, but you have to start somewhere and labor isn’t a cost free input, let alone labor in a highly technical field …
Still you have to make your own interpretation of the risk - as risk is relative to the investor.
Yes, will be contacting some developers from bitcoin core to audit the code, i think they are the best ones to do it, especially blockstream (gmaxwell, lukejr …) as they are related to most of these technologies. Plus the bitcoin core dev is a decentralized entity of all the developers who participated to the bitcoin development. And i totally trust them.
If i use my Omni wallet as the address for the NVO tokens to be sent when the crowd sale finishing .
Will the tokens show up in my balances. Would appreciate some comments here , thanks.
Yes I agree we haven’t been very professional to the community, and I apologize for my behaviour. Regarding Yanni and Imed, it’s just partly miscommunication.
Thanks for you answer. I did down load the counter party wallet and set it up, The only problem i have is when i enter the public address into the personal bitcoin address section on the NVO crowd sale site .The public address to send the Bitcoin to dose not appear, not sure what i have done wrong. would appreciate your help.
Thanks.
While I appreciate your points and your motives, I think Maidsafe have to be resigned to the fact that anyone can work on their protocol and anyone can build Apps. They want developers doing that as soon as possible. They can’t possibly be doing their own DD on all those projects as they start to emerge.
From their pov they have made it pretty clear that they don’t know these guys and can’t vouch for the fact that they can pull off what they’re promising, they don’t have time to research it all. But they also know of them through people they trust, so they are working under the assumption that they believe they can do it and they likely have good intentions.
Anyway, it’s all moot now isn’t it? They’ve raised A LOT of money. The train has left the station and Maidsafe did not choose to endorse - why would they really, there would be no win in it for them, only risk. SAFE is too important for them to take any unnecessary risks. One member of staff was good enough to probe a little in his spare time, it threw up concerns and was reassuringly critical and sceptical (inspires more confidence than circle-jerking imo). Investors need to make sure they’re happy with their choices and do their own DD.
I haven’t invested because I was leaving it until the last minute. I support the NVO team and what they’re trying to build (with my fingers crossed that it’s not misplaced), but they don’t need any of my bitcoins to get it built now, so I don’t see any need for me to buy in. Any funds I add now will only go on lambos or marketing and I’m not fan of either.
Whatever happens here, I don’t think it will reflect poorly on Maidsafe, they have not endorsed NVO and they are way too busy to be looking into other projects atm, nor do they want to turn off new developers or tarnish their new relationship with the Maidsafe Asia guys, who they do trust, and who in turn trust the NVO team. Their only play was to do exactly what they did imo.
It is what it is. Money has been raised and the ship sailed. As with all these projects some will make it and some won’t, there’s no way to know which yet and no one can shift responsibility onto innocent bystanders by vague association. Plenty of Ethereum based projects will fail, perhaps all of them, it hasn’t stopped a lot of people throwing their money at them.
I really hope the NVO team succeed… and I think they might.
moment that made me think of an episode of dragon ball Z, and that the survival of the universe depended on me, it is like if I was sangohan and I had to beat cell, and everything depended on my will to win. Thank you so much.
I’m a dragonball fan too. I read your post mentioning it before and it gave me hope that you do have the will to pull it off - lol - well you anyway … don’t know about the rest of the NVO team yet.
