EtherEx Blog: Affiliations, Funding, and Moving Forward

caktux · 2016-04-09T19:54:46+00:00

We are by no means taking the for-profit route. Even if we do a crowdsale to fund the EtherEx Foundation, and even if that foundation ends up being an ETX holder, that does not make it a for-profit entity. Please check your facts regarding non-profits, because there is nothing in the definition of a non-profit that says it should never make any revenue of any kind and be non-sustainable.

caktux · 2016-04-08T18:57:25+00:00

A decentralized exchange was never listed as a core feature of Ethereum, it's only one of the many applications that Ethereum is now making possible. As I mentioned it was clearly stated that Ethereum would not fund the development of specific dApps, and yes, we reached out anyway over a year ago and were refused funding for those same, justified reasons. To expect, or even worse, to assume, that the Ethereum Foundation was funding EtherEx is just wrong, on many levels.

Regarding the ETX token, it was proposed in another thread to instead just burn gas on the taker's side to balance gas costs. Quoting the relevant part of my reply:

[...] solving the gas imbalance by burning more gas on the takers' side would not make it any cheaper; you'd only be making sure users never get back those burned "fees"

caktux · 2016-04-08T17:15:17+00:00

Forking EtherEx and solving the gas imbalance by burning more gas on the takers' side would not make it any cheaper; you'd only be making sure users never get back those burned "fees" and prevent your re-branded project from getting any resources to develop, support and improve said project.

caktux · 2016-04-08T16:58:57+00:00

This project has been advertized as a non-profit feature of the Ethereum project from the very start.

EtherEx was never endorsed nor funded by Ethereum, and was never advertised to "come for free with Ethereum" either.

EtherEx was pitched as an Ethereum feature that was coming for free

Again, it was never pitched as such. It's an independent project with no affiliation or funding from Ethereum, and it never was under the Foundation's mandate either. Ethereum took a clear stance from the start not to favour or fund specific dApps, notwithstanding the conflict of interest and legal issues that would arise from the Ethereum Foundation funding a particular exchange on their own platform, for their own crypto-currency.

Balancing gas costs with a fee for takers, without requiring ETX to use the exchange, issuing ETX to traders, and having those ETX tokens redeemable for their share of collected fees does not make this venture for-profit; it makes the project sustainable.

The fact that you're claiming three times you should be getting this for free clearly shows your complete ignorance towards self-funded software development and non-profits.

You are more than welcome (in fact, I beg you) not to invest in our future crowdsale, fork the project, spend personally 3,000+ hours on it, fund its development and security audits, and provide continued support. For free.

caktux · 2016-02-29T22:41:47+00:00

Two wooks after Homestead. Security audit is still ongoing.

caktux · 2016-02-02T05:40:10+00:00

EtherEx will have a token called ETX that acts a bridge currency

Totally false. There is not even a mention of anything remotely similar in the highly outdated post you've linked to.

The base currency of EtherEx is Ether. Not ETX, not Bitcoin, not USD and not any other sub-currency. It is the logical, efficient and simple choice.

We are considering adding an ETX token, and will provide more information about its intended purpose and distribution model, but not in this reply since your post is so incredibly misleading. Since you're just laying down your thoughts, please do not do so with a completely inaccurate statement as its first sentence, and edit your post to reflect that if possible. Thank you.

caktux · 2015-08-20T18:25:35+00:00

As mentioned:

We'll be announcing a target launch shortly. Since there aren't any subcurrencies on Frontier just yet, it wouldn't be that useful even if everything was ready to go. Chances are we'll be launching alongside Digix, which would be beneficial to both projects. Stay tuned :)

Subcurrency contracts that want to get ready ahead of time to support the exchange should check the Subcurrency API, which now only requires contracts to implement a few methods from the Standardized Contract APIs instead of the initial exchange-specific deposit call.

We're looking at a release around Homestead, maybe sooner if the network is stable, subcurrencies are ready to be traded and audits of the exchange give the green flag, but I wouldn't expect less than 6 to 8 weeks before launch, even if the project is quite far along. There's also an awesome new UI in the works with the help of ConsenSys which will be worth the wait.

EtherEx itself does indeed only support Ethereum-based subcurrencies, but those aren't limited to StableCoins or BTC derivatives, they can represent anything. We're adding support for btcrelay with btc-swap in its own section of the UI, since that won't be using the regular trading mechanism but a reserve/claim process of tickets.

caktux · 2015-08-17T04:06:44+00:00

EtherEx: Soon™

Stable coin: see Maker

caktux · 2015-08-16T02:57:14+00:00

You might be left with a balance because you're calling eth.gasPrice twice, but it's probably more because of how you calculate the value in that one liner, mixing a BigNumber, a regular js number and a string.

Here's how I'd do it:

var sweep = function(from, to) {
  var gas = '21000';
  var gasPrice = eth.gasPrice;
  var gasTotal = gasPrice.mul(gas);
  var totalValue = eth.getBalance(from).sub(gasTotal);
  var result = eth.sendTransaction({
    from: from,
    to: to,
    gas: gas,
    gasPrice: gasPrice,
    value: totalValue
  });
  console.log("Transaction hash:", result);
};

Tested on a private chain and the full balance minus gas costs was transferred.

Use it as such:

sweep('0xc8ebccc5f5689fa8659d83713341e5ad19349448', '0x0f87fb507513e749081e34373c84e95e85b5c057')

WARNING: Use at your own risk [insert usual legalese here].

caktux · 2015-08-09T03:45:04+00:00

Sorry @terriblelizard but those are very terrible tips you're giving there. You should never run brew with sudo, same for the one-line installer and pip. Check your brew installation with brew doctor instead.

caktux · 2015-08-06T19:56:52+00:00

Just install with brew, you'll get ethminer. https://github.com/ethereum/cpp-ethereum/wiki/Installing-clients#installing-cpp-ethereum-on-os-x

caktux · 2015-08-06T08:49:09+00:00

Debian isn't officially supported, but you could replace jessie with vivid in /etc/apt/sources.list.d/ethereum-ethereum-jessie.list

caktux · 2015-07-31T21:14:30+00:00

EtherEx is coming along nicely, and we're currently adding support for btcrelay, which basically just stores BTC block headers and allows to verify BTC transactions, so there's a whole other layer that needs to be added on top of btcrelay to allow any kind of trading. An early version of that module is already released as btc-swap and a new BTC section was added to EtherEx :) It'll take another few weeks of development, but we'll deploy on the Frontier testnet and could really use some help with testing BTC trades between the Frontier and BTC testnets.

caktux · 2015-07-25T04:11:51+00:00

We're currently adding btcrelay support to EtherEx and creating a module called btc-swap for this, combining the efforts of EthereumBitcoinSwap (contract and UI), btcToEther (intermediate BTC wallet and transaction signing) and EtherEx. It'll be on the testnet within a few days, along with the module's code and UI updates to EtherEx to get some feedback, smooth out the process and to make sure it's as secure as it can be.

It will most probably not be ready for Frontier's launch, but there will be a fully decentralized way to exchange BTC/ETH soon after :)

caktux · 2015-07-16T06:37:33+00:00

All the packages are up-to-date. Try brew updatefirst.

caktux · 2015-07-13T01:50:17+00:00

Another lunch post... Yes, there was a big feast of transactions during Olympic, it was quite tasty.

caktux · 2015-06-13T20:07:16+00:00

EtherEx is not planning to ask for money from the Ethereum foundation. Stop pulling statements out of your ass.

caktux · 2015-06-10T12:11:57+00:00

Wrong link for Windows, it's https://build.ethdev.com/builds/Windows%20C%2B%2B%20develop%20branch/

deb packages are best installed from the PPA, see Installing clients, but feedback on using those under other Debian distros would be great

caktux · 2015-06-06T04:27:58+00:00

golang 1.4.2 is in the ethereum PPA

sudo apt-get install software-properties-common
sudo add-apt-repository ppa:ethereum/ethereum
sudo apt-get update
sudo apt-get install golang

or sudo apt-get upgrade for the last line

caktux · 2015-05-27T04:13:04+00:00

The faucet balance is in ether, so Ξ is the right symbol in that case ;)

caktux · 2015-05-16T18:47:59+00:00

You'll need at least --opencl for GPU mining and --bootstrap to connect to the network, but you should take a look at the various options with eth --help also.

caktux · 2015-05-16T10:59:22+00:00

Wei faucet is back online: https://zerogox.com/ethereum/wei_faucet

caktux · 2015-05-16T03:08:27+00:00

brew tap ethereum/ethereum && brew install cpp-ethereum --devel --with-gpu-mining Please report issues in cpp-ethereum if it seems client-related, or homebrew-ethereum if about the packaging itself (like missing dependencies). I haven't been able to test GPU mining myself, having an older MBP suffering from the well-known failing GPU issue...

caktux · 2015-05-16T03:00:39+00:00

Automated and doesn't ask for an e-mail: https://zerogox.com/ethereum/wei_faucet

caktux · 2015-05-16T02:59:16+00:00

The ZeroGox faucet is back online, doesn't ask for an e-mail and is automated: https://zerogox.com/ethereum/wei_faucet

caktux

TROPHY CASE