BitShares X Status Update

[Markus]

Then BTS only needs to be on one chain?  Why would parallel chains need their own currency?


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The problem is space in the blockchain. Right now 16 different assets seems to be the max any one chain can handle. Because the market is in the chain this requires much more space than the with standard coins.

[toast]

Then BTS only needs to be on one chain?  Why would parallel chains need their own currency?


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I think they'd need their own share to have a unit of collateral? You can't short an asset into existence unless you have a base asset to short against

[gulu]

Then BTS only needs to be on one chain?  Why would parallel chains need their own currency?


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[toast]

Cross-chain communication is necessarily opt-in, so each chain can specify what you need to do to CTT with it. Two chains that are cross-tradeable have to both explicitly allow the other (whether directly or by some set of verification rules).

Also I'm pretty sure CTT does not mean that an asset leaves one chain and enters another, it just means two transfers on the two chains happen simultaneously and atomically (I send you BTS on BTSX in exchange for you sending me BitAPPL on BTSStocks).

[gulu]

Enjoy your well-deserved vacation. I have a question for you when you come back.

Correct me if I am wrong. BTS system has a main chain and several parallel chains. BTS is the currency on the main chain while coined BTS on the parallel chains. The main BTS currency is also an asset on each and every parallel chain. The parallel chains talk to the main one in order to enable cross-chain trading. My question is, what stops anyone from creating an exactly same alt parallel chain? I guess the question might better asks as: how are the communicating ports between the main chain and parallel chains protected? Or can anyone create a parallel chain?

[MrJeans]

Enjoy a hugely deserved break 

[bytemaster]

Unfortunately today I spent on the phone with just about everyone on the team and thus didn't have any opportunity to write code.   I will be spending time with my kids this weekend so there will be little progress for the next 2 days.

[bytemaster]

Thank you a lot for the update. I have a question: will there be a GUI ready for early Mar. test?

I wouldn't bet on it.   However, anyone is free to start developing the GUI as the API is available from the command-line version and there is a JSON-RPC interface.   

Right now I am focused 100% on core functionality and robustness.

Oh snap!  Command-line version?  I really hope there will be some instructions for us technically challenged.

The command line version is actually not that difficult to use and we will have bounties for people to document how to use it for the masses on every OS.

[JakeThePanda]

Thank you a lot for the update. I have a question: will there be a GUI ready for early Mar. test?

I wouldn't bet on it.   However, anyone is free to start developing the GUI as the API is available from the command-line version and there is a JSON-RPC interface.   

Right now I am focused 100% on core functionality and robustness.

Oh snap!  Command-line version?  I really hope there will be some instructions for us technically challenged.

[bytemaster]

Thank you a lot for the update. I have a question: will there be a GUI ready for early Mar. test?

I wouldn't bet on it.   However, anyone is free to start developing the GUI as the API is available from the command-line version and there is a JSON-RPC interface.   

Right now I am focused 100% on core functionality and robustness.

[yidaidaxia]

Thank you a lot for the update. I have a question: will there be a GUI ready for early Mar. test?

[bytemaster]

Today I fixed several bugs, then got caught up getting things to build and compile using Apple's native clang++ rather than g++4.8 from macports.   

[bytemaster]

Since my last post I have implemented the majority of trx fees including dynamic fee adjustment based upon blocksize.   Tomorrow I will look for / fix bugs with the trx fee code and implement automated mining and importing keys from bitcoin.

[alt]

enjoy your family life 

Initial bugs from margin calls have been resolved.  I am sure there are a few more lurking in there..

Items on my todo list include:
1) Implement Trx Fees
2) Automate mining (it is currently manual and dependent upon manual trxs)
3) Dynamic fee adjustment based upon block size
4) Validate difficulty adjustment
5) Import bitcoin wallets and bitcoin private keys
6) Generate genesis block from PTS snapshot
7) Fix bugs / security / robustness of wallet.

Items I am leaving out of the MVP
1) Options
2) MultiSig Transactions
3) Cross Chain Trading
4) Escrow
5) Interest

I suspect that items 1 through 4 should be complete by Monday.  I will be taking Friday through Sunday off to spend time with my kids.    If all goes well we should be MVP feature complete by Valentines Day and can focus the last several of weeks on testing and robustness for a launch the first week of March.

[bytemaster]

Initial bugs from margin calls have been resolved.  I am sure there are a few more lurking in there..

Items on my todo list include:
1) Implement Trx Fees
2) Automate mining (it is currently manual and dependent upon manual trxs)
3) Dynamic fee adjustment based upon block size
4) Validate difficulty adjustment
5) Import bitcoin wallets and bitcoin private keys
6) Generate genesis block from PTS snapshot
7) Fix bugs / security / robustness of wallet.

Items I am leaving out of the MVP
1) Options
2) MultiSig Transactions
3) Cross Chain Trading
4) Escrow
5) Interest

I suspect that items 1 through 4 should be complete by Monday.  I will be taking Friday through Sunday off to spend time with my kids.    If all goes well we should be MVP feature complete by Valentines Day and can focus the last several of weeks on testing and robustness for a launch the first week of March.

Is the first snapshot still 02/28?

Correct, Snapshot 2/28 launch shortly thereafter.