Monetary System

From Nxt Wiki
Jump to: navigation, search
This page is a translated version of the page Monetary System and the translation is 71% complete.

Other languages:
Deutsch • ‎English • ‎français • ‎русский • ‎українська

1 Einführung

Das Nxt Monetary System bietet eine neue Asset-Klasse names "currency", die durch das Nxt Netzwerk und Blockchain gesichert wird. Virtuelle Währungen mit einer Vielzahl von anpassbaren Eigenschaften können in wenigen Minuten erstellt werden, ohne das spezialisierte Hardware oder eine existierende Benutzerbasis benötigt werden.

Diese Anleitung beschreibt das Monetary System, dass mit einem Hardfork bei Block 330000 in der Hauptumgebung aktiviert wird. Hierbei wird mindestens die Nxt Software in Version 1.4.7 oder jünger benötigt. Diese Anleitung basiert hauptsächlich auf der primären Entwickler-Dokumentation hier.

2 Inhaltsverzeichnis

3 Monetary System Menü

Das Monetary System erreicht man durch einen Klick auf Monetary System im linken Hauptmenü der Nxt Client Oberfläche, durch den ein Untermenü aufgeklappt wird:

MS menu.png



Monetary System: This item expands or contracts the submenu below and opens the Exchange Booth screen, where exchangeable currencies can be traded.
Currencies: This item displays a list of all currencies and their properties as shown in the All Currencies Screen.
Exchange History: This item displays completed exchanges (trades) associated with the logged-in account.
Issue Currency: This item opens a pop-up entry form for issuing or re-issuing a currency as described in Issue a Currency.



3.1 Übersicht aller Währungen

MS currencies.png
  • The currency list is in order of most recently issued currencies.
  • The currency list can be restricted by entering a Code/Name search pattern in the Search Currencies field at the top. The search pattern is case-insensitive and can include the wildcards * and ?.
  • Clicking on a currency code in the Code column opens a detail pop-up window.
  • Hovering over the symbols in the Type column reveals the Currency Types.
  • The Current Supply is reduced when a reservable currency is claimed or increased when a mintable currency is minted.
  • The Max Supply is the total supply of currency upon issuance for non-mintable currencies or the maximum supply of currency that can be achieved by minting.
  • Clicking on a highlighted button in the Actions column opens the Exchange Booth screen or a pop-up entry form to reserve the currency, when applicable.
  • Clicking on My Currencies in the upper right corner restricts the list to those currencies owned by the logged-in account as shown in the My Currencies Screen.

3.2 Meine Währungen Übersicht

MS my currencies.png
  • Clicking on a Transfer button opens the Transfer Currency pop-up entry form.
  • Clicking on a highlighted Offer button opens the Publish Exchange Offer pop-up entry form, when applicable.
  • Clicking on a highlighted Claim button opens the Claim Currency pop-up entry form, when applicable.
  • Clicking on All Currencies in the upper right corner returns to the All Currencies Screen

4 Erstellung einer Währung

Klicke auf "Währung erstellen" im Menü, um eine neue Währung zu erstellen oder wiederzuerstellen. Ein Popup Formular erscheint:

MS issue.png

This entry form provides a few tips (by clicking on the green question marks), but some constraints on the fields are implied and only clarified through error messages that appear near the top of the form when improper values are specified. To minimize errors, follow these guidelines:

WÄHRUNGSNAME: Der Name muss einmalig und zwischen drei bis zehn Zeichen lang sein.

WÄHRUNGSCODE: Der Code muss einmalig und zwischen drei bis fünf großgeschriebene Buchstaben lang sein.

TYPE: Check the desired combination of currency types, subject these restrictions: Reservable requires exchangeable and/or claimable, as does controllable; but mintable requires exchangeable. Claimable requires reservable, non-mintable and zero initial supply. Refer to Currency Types below for more detail.

TOTAL SUPPLY: The total supply must equal the initial supply unless the currency is mintable or reservable. If mintable, the total supply is the maximum supply that can be achieved through minting. The total supply of a reservable currency is set at issuance to the reserve supply (entered as UNITS TO RESERVE in the reservable section of the form) and must be greater than the initial supply.

INITIAL SUPPLY: The supply of a mintable currency increases through the minting process; the initial supply (if any) is held by the issuer. The initial supply (if any) of a reservable currency is held by the issuer; but the initial supply of a claimable reservable currency must be zero.

DECIMALS: Die Anzahl der Dezimalstellen der neuen Währung. Diese können zwischen 0 und 8 sein lang kann. Um Rundungsfehler in der Software zu vermeiden, wird empfohlen maximal vier Dezimalzahlen zu auszuwählen.

ISSUANCE HEIGHT:' Dies betrifft nur rückhaltbare Währungen und muss mindestens die aktuelle Blockhöhe oder größer betragen.

Gebühr:' Die Standardgebühr von 25000 NXT betrifft nur Währungen mit einem dreistelligen Währungscode. Für einen vierstelligen Währungscode fällt eine Gebühr von 1000 NXT und für einen fünfstelligen eine Gebühr von 40 NXT an.

4.1 Währungsarten

Im Folgenden werden die sechs Arten einer Währung beschrieben:

4.1.1 Wechselbar

Wechselbare Währungen können gegen NXT unter Exchange Booth im Client getauscht werden. Die Exchange Booth funktioniert anders als die Asset Exchange.

4.1.2 Kontrollierbar

Kontrollierbare Währungen können nur zu und von dem erstellenden Account transferiert werden. Wenn die Währung zudem noch wechselbar ist, kann nur der erstellende Account Angebote veröffentlichen.

4.1.3 Rückhaltbar

Wenn Rückhaltbar aktiviert wird, erscheinen zwei weitere Felder:

MS reserve.png

UNITS TO RESERVE: This is the total amount of the currency to reserve, the reserve supply. It will become the total currency supply when the issuance height is reached, unless the minimum amount below is not achieved by then. It must therefore equal TOTAL SUPPLY and be greater than INITIAL SUPPLY.

MINIMUM AMOUNT OF NXT PER WHOLE UNIT NEEDED TO ACTIVATE CURRENCY: Assuming the currency code COIN, this is the minimum amount of NXT per COIN needed to back the currency. For example, if the reserve supply is set to 1000 COIN and the minimum amount per reserve unit is 0.2, then at least a combined 200 NXT must be pledged by supporters to back the COIN currency before the issuance height. If this minimum requirement is met or exceeded in time, each pledged supporter becomes a founder and receives a portion of the difference between the initial supply and the reserve (now total) supply of the COIN currency. If the minimum is not met in time, the currency will be deleted and all pledged NXT will be unlocked and returned to supporters. If the minimum is met or exceeded, all pledged NXT will either remain locked until claimed if claimable or be transfered to the issuer otherwise.

4.1.4 Beanspruchbar

Claimable currencies are reserveable currencies that allow the locked NXT reserves that back them to be claimed, meaning that a current holder of a claimable currency can exchange it for the locked NXT that backs it, in doing so reducing the Current Supply shown on the All Currencies Screen.

4.1.5 Prägbar

Wenn prägbar aktiviert ist, dann erscheinen drei weitere Felder:

MS mint.png

MINIMUM DIFFICULTY: Die minimale Schwierigkeit (Minimum 1).

MAXIMUM DIFFICULTY: Die maximale Schwierigkeit (Maximum 255 und größer als das Minimum (1)).

ALGORITHM: Der Hashing Algorithmus der zum prägen benutzt wird. Wählbar sind SHA256, SHA3, Scrypt, oder Keccak25.

  • A mintable currency is issued with an INITIAL SUPPLY of currency that can increase over time until the TOTAL SUPPLY is reached; thus TOTAL SUPPLY is better named MAXIMUM SUPPLY in this case.
  • The currency supply is increased through a minting process, governed by the above properties. Minting does not secure the currency as mining does for some other virtual currencies such as Bitcoin; the currency is already secured by the Nxt blockchain and network.

4.1.6 Nicht-Shufflebare Währungen

Nicht-Shufflebare Währungen nehmen nicht beim Coin-Shuffeling teil (ein Anonymisierungsfunktion), wenn diese Funktion in Zukunft verfügbar sein wird. Standardmäßig sind alle Währungen shufflebar.

5 Löschen einer Währung

A currency can be deleted only when the total supply belongs to one account, and only by using the Delete Currency API call. However, a currency that can be deleted can also be reissued with different properties using Issue a Currency.

6 Transferiere eine Währung

To transfer a quantity of currency to another account, click on the Transfer link on the My Currencies Screen. Alternatively, navigate to the Exchange Booth for the currency and click on the Transfer link there. The Transfer Currency pop-up entry form appears:

MS transfer.png

Empfänger: Gebe die Konto ID des Empfängers ein.

Einheiten: Gebe die Anzahl der Einheiten ein, die transferiert werden sollen. Maximal aber die Anzahl der Verfügbare Währungseinheiten.

7 Exchange an Exchangeable Currency

Currency exchanges take place in the Exchange Booth, which appears when Monetary System is clicked on the Menu or when the Exchange link is clicked on the All Currencies Screen:

MS exchange booth.png
  • Click on the Offer link at the top to publish a buy/sell offer pair. Refer to Publish an Exchange Offer for details. Published offer pairs are displayed in the middle row, in order of most favorable rate.
  • Click on the green bar to request to buy offered currency with NXT. Open offers to sell currency for NXT are displayed just below. Refer to Submit an Exchange Request for details.
  • Click on the red bar to request to sell currency for offered NXT. Open offers to buy currency with NXT are displayed just below. Refer to Submit an Exchange Request for details.
  • Exchange requests from the logged-in account to buy or sell offered currency are listed in the lower left area, most recent on top. If the request is italicized, it is pending. As soon as a pending request is confirmed (by inclusion in a block), it is executed based on available offers at that moment. All non-italicized requests have already been processed and possibly ignored if no matching offers were found. Old offers continue to be displayed until dropping off the bottom of the list, but they will not be processed again even if a new matching offer appears.
  • Executed exchange requests (trades) from all accounts are listed in the lower right area, most recent on top. Click on My Exchanges to display only those associated with the logged-in account. This list is short; old exchanges (trades) fall off the bottom. For a complete list, click on Exhcange History on the Menu

7.1 Publish an Exchange Offer

The Publish Exchange Offer pop-up entry form appears when the Offer button is clicked on the Exchange Booth screen, or alternatively on the My Currencies Screen:

MS offer.png

Kaufe Einheiten (Initial):' Die initiale Menge der Währung die zum Kauf angeboten werden.

Kaufe Einheiten (Limit): Die Gesamtmenge der Währung die gekauft werden soll.

Kaufrate je Einheit: Die Umtauschrate die zum Kauf der Währung geboten wird (in NXT je Einheit der Währung).

Verkaufe Einheiten (Initial):' Die initiale Menge der Währung die zum Verkauf angeboten wird.

Verkaufseinheiten (Limit): Die Gesamtmenge der Währung die verkauft werden soll.

Verkaufsrate je Einheit: Die Umtauschrate die zum Verkauf der Währung geboten wird (in NXT je Einheit der Währung).

Höhe der Gültigkeit:' Die Blockhöhe bis zu der das Angebot gültig ist. Sie muss größer als die derzeitige Blockhöhe sein.

  • Whenever an exchange request is executed against an offer, the respective limit is reduced by the amount of the exchange (trade).
  • An offer pair, once published, will persist until the expiration height is reached or until both limits become zero. If one limit becomes zero before the other, that half of the offer pair is withdrawn.
  • The offered amounts can decrease or increase from their initial values; they decrease when an exchange request is executed, but they increase when an exchange request of the opposite type is executed if the limit permits.
  • Only one active offer is permitted per account; new offers replace existing offers.

7.2 Eingeben einer Umtauschanfrage

Das Formular zu einer Umtauschanfrage erscheint im Dropdown-Menü, sobald die grünen und roten Balken im Exchange Booth geklickt werden:

MS request.png

Das grüne Kaufformular hat die identischen Felder wie das rote Verkaufsformular. Nur die Richtung des Umtauschen (Handel) ist unterschiedlich.

Einheiten: Die Umtauschmenge einer Währung.

Rate: Die am meist favorisierte (die des Anfragers) Umtauschrate (in NXT und pro Währungseinheit).

Total: Die Menge von NXT die getauscht werden soll. Dies nur lesbare Feld wird automatisch berechnet.

Gebühr: Die minimale und standardmäßige Gebühr für eine Anfrage ist 1 NXT.

  • The exchange request is submitted when the blue Exchange button is clicked, but will not be executed until confirmed (included in a block). Once confirmed, the request will be immediately executed (fully or partially) if any matching offers are found, otherwise it will be permanently ignored.

7.3 Beispiel eines Umtausches

7.3.1 Angebot

Fülle das offer Formular wie folgt aus um ein Angebot zu erstellen:

  • Kaufeinheiten (Initial): 5
  • Kaufeinheiten (Limit): 10
  • Kaufrate je Einheit: 1
  • Verkaufseinheiten (Initial): 10
  • Verkaufseinheiten (Limit): 20
  • Verkaufsrate je Einheit: 2

Sobald das Angebot in der Blockchain bestätigt ist, zeigt die Exchange Booth Anzeige folgendes:

MS example offer.png

7.3.2 Kaufanfrage

Fülle das grüne request Kaufformular wie folgt aus:

  • Einheiten: 20
  • Rate: 3

Während die Anfrage aussteht,zeigt die Exchange Booth Anzeige folgendes:

MS example request pending.png

  • Während die Anfrage aussteht, ist sie kursiv.

Sobald die Anfrage in der Blockchain bestätigt ist, zeigt die Exchange Booth Anzeige folgendes:

MS example request confirmed.png

  • The Units, Rate and Total columns in the Exchange Requests and Executed Exchanges sections have the same units as on the request form. Units is the amount of currency exchanged, Rate is the exchange rate in NXT per currency unit, and Total is the amount of NXT exchanged, always equal to Units * Rate.
  • The requested amount of currency was greater than the amount offered, and the offered rate was more favorable to the requester than the requested rate, so the offered amount and rate prevailed, as shown in the Executed Exchanges section.
  • The request was executed immediately upon confirmation, but continues to be displayed in the Exchange Requests section. Even though the request was only partially filled, it becomes obsolete after execution; the request will not be fully met even if a new matching offer appears in the future.
  • All of the initial amount of currency offered to sell (10 units) was sold, so the sell half of the offer pair was temporarily withdrawn. But it could reappear if the supply of currency to sell is replenished by a sell exchange request being executed against the buy offer. Up to 10 more units could be sold in this way, because the sell limit is now 10 units, having been reduced from 20 units.
  • The amount of currency offered to buy increased from the initial 5 units to 10 units, the buy limit. It would have increased to 15 if the buy limit was 15 or greater, due to the 10 units sold. Thus the Exchange Booth allows an offer publisher the opportunity to automatically replenish sold currency.
  • Clicking on a timestamp in the Exchange Requests section opens a detail pop-up window showing all executed exchanges resulting from a request; clicking on the timestamps of any of those executed exchanges opens an offer detail window, which in turn shows initial and current supplies and limits along with all executed exchanges against that offer, plus exchange totals. The offer detail window can also be opened by clicking on a height value in the Offers to Exchange section, and the request detail window can also be opened by clicking on a timestamp in the Executed Exchanges section.

7.3.3 Verkaufsanfrage

Fülle das rote request Verkaufsformular wie folgt aus:

  • Einheiten: 20
  • Rate: 0.5

Sobald die Anfrage in der Blockchain bestätigt ist, zeigt die Exchange Booth Anzeige folgendes:

MS example sell request.png

  • The requested amount of currency was greater than the amount offered, and the offered rate was more favorable to the requester than the requested rate, so the offered amount and rate prevailed, as shown in the Executed Exchanges section.
  • All of the currency offered to buy (10 units) was bought, so the buy half of the offer pair was withdrawn permanently because the buy limit became zero.
  • The amount of currency offered to sell increased from 0 units to 10 units, the remaining sell limit; the bought units replenished the currency supply and so the sell half of the offer pair reappeared.
  • Notice that the buyer and seller are the same account. The Monetary System allows this but still charges a fee even though no currency or NXT is actually exchanged. This is a method for effectively withdrawing an offer before it expires.

8 Rückhalten einer rückhaltbaren Währung

Das Popup-Formular einer rückhaltbaren Währung erscheint wenn der Reserve Button in All Currencies Screen geklickt wird:

MS reserve currency.png

Menge der NXT pro Währungseinheit: Dieser Wert wird multipliziert mit dem rückhaltbaren Vorrat, um die Menge an NXT zu bestimmen, die für die Währung hinterlegt werden muss.

  • If the entered amount of NXT per currency unit is 1.5 and the reserve supply is 100, 150 NXT will be pledged to back the currency. This will be displayed as Amount of NXT reserved on the form if this read-only field is clicked.
  • The minimum amount of NXT per unit of currency that must be pledged by all supporters of the currency combined in order to activate (issue) the currency is displayed as Activation Per Unit Reserve. This value was specified as MINIMUM AMOUNT OF NXT PER WHOLE UNIT NEEDED TO ACTIVATE CURRENCY on the Issue Currency form. The combined amount of NXT that must be pledged is this value multiplied by Reserve Supply.
  • The amount of NXT per unit of currency already pledged by other supporters is displayed as Current Per Unit Reserve. The corresponding amount of NXT already pledged is this value multiplied by Reserve Supply.
  • In this example, 200 NXT must be pledged by all supporters combined to activate (issue) the currency. 100 NXT have already been pledged; at least 100 NXT more is required. If 150 NXT are pledged now, the minimum will have been met (and exceeded) and the currency will be issued at the issuance height.

8.1 Founders

All pledges of support can be viewed on the Currency Founders pop-up window, which can be opened by clicking on the currency code on the All Currencies Screen then clicking on Click here to view this currency's Founders. If the minimum combined pledge is reached by the issuance height, the pledged supporters will become the founders of the currency. In this example, there are two pledged supporters:

MS founder.png

  • The Amount Reserved column shows the amount of NXT pledged by each supporter, which upon activation (issuance) becomes NXT reserve backing the currency. These values are computed by multiplying the Reserve Units (elsewhere named Reserve Supply) by the Amount per Unit column.
  • The Founders Units column shows the portions of the currency Reserve Supply to be distributed among pledged supporters of the currency upon activation (issuance), in proportion to the Amount Reserved
  • The Percent of Minimum column shows what percentage each supporter has contributed to meeting the minimum reserve requirement. If the total reaches 100%, the currency will be activated (issued) at the issuance block height. In this example, the total has already exceeded 100% and so the currency will be activated (issued) 5 blocks from now.
  • If the minimum reserve requirement were not to be met in time, the currency would be deleted and all pledges would be returned. When the minimum is met or exceeded in time, all pledged NXT either remain locked until claimed if claimable or are transfered to the issuer otherwise.
  • If the currency is activated (issued), the Founders table freezes as a permanent record, and the Reserve Supply becomes the total supply of the currency.

9 Claim a Claimable Currency

The Claim Currency pop-up entry form appears when the Claim button is clicked on the My Currencies Screen:

MS claim.png

Number of units: The number of units of currency to claim up to the displayed maximum of Number of units to claim, the amount of currency held by the logged-in account.

  • The Claim rate (in NXT per currency unit) multiplied by the entered Number of units is the amount of NXT that will be unlocked and transfered to the currency holder.
  • In this example, if the maximum amount of 80 units is claimed, 40 NXT will be transfered to the logged-in account, reducing the Current Supply shown on the All Currencies Screen by 80 units.

10 Mint a Mintable Currency

The Nxt client interface does not provide a minting mechanism. Minting requires a separate tool that makes use of following Nxt API calls:

  • Get Minting Target returns a target hash; a nonce must be found such that its hash is less than the target hash. The difficulty of computing a valid nonce increases as the currency supply increases, according to the MINIMUM and MAXIMUM DIFFICULTY properties entered in the Issue a Currency form. The hashing algorithm applied to the nonce must be the one selected as the ALGORITHM property in that same form.
  • Currency Mint submits the computed nonce in exchange for newly minted currency, increasing the Current Supply shown on the All Currencies Screen.

A reference minting tool that uses the API is the Java Mint Worker Utility, included with Nxt Software. In its current form, it can only use a CPU for hashing computations. It is hoped that in the future it will be enhanced to include support for GPUs and ASICs.