When will Darkcoin Join the Multigateway?

[DarkDaos]

Howdy! everyone.

NXT's multigateway has been showing Darkcoin as being developed to integration with the booming NXT AE and its multigateway. Any news on the progress of this? Who is working on it, how can we make it happen?

multigateway.org

 

[illodin]

nxt, nem, fimk, et al have been just too confusing for me to understand to be bothered to find out more about them. Assets and tokens and gateways duhhh.. wish I understood it though.

 

[DarkDaos]

I can explain it! Or I can try atleast.

NXT is perhaps the first second gen crypto coin rewritten fully from scratch on Java and JS. It has a decentralized asset exchange ontop of it where people can create assets or essentially other coins, without having to worry about security. Divident payouts, time controlled smart contracts among other things are enabled by it now.

The multigateway (MGW) is a way for people to trade altcoins for assets that mirror the altcoins. Centralized exchanges use this same system. They create a mirror asset of say, Darkcoin, and let you trade it on their website. They hold your 'real' DRK on their accounts.

MGW works the same way, except it is cheaper, easier to log into and use than most and it's storage is decentralized. It uses 3 servers and 2/3 multisig, and these servers must agree for withdrawal to occur. I'm not certain of the details beyond this, or not can I really verify code, but, Blackcoin, litecoin, dogecoin among others are already using this service and I expect more to come!

Check out this article on the Supernet that just came out, might help clarify things.

http://bitcoinmagazine.com/18167/what-is-the-supernet-jl777s-vision/

 

[illodin]

Thanks for the explanation! I'm starting to get it I think.

However, how does that compare to the upcoming NightTrader for example? They do essentially the same thing, right?