NuBits: achievements after 15 months of operation

Since inception on September, 23rd 2014 NuBits has demonstrated that it is the #1 stable cryptocurrency in the world, in terms of marketcap and transaction volume.

Definition: a stable cryptocurrency is a currency issued on the blockchain, keeping a stable value. In this case, 1NBT = 1USD

- Stability is a bliss:

"NBT has been stable since day 1"

"As long as goods and services are priced in USD, Yen, EUR, CNY, etc. the volatility of (most) cryptocurrencies is hindering adoption.
If merchants accept cryptocoin payment, they generally use payment providers who convert the cryptocurrencies in the background to fiat for them."

"So, stability is certainly not a bad attribute of a currency.  "

A user: "I have used NuBits to buy many things. And the NuDroid mobile wallet allows me to hold stable NuBits and then automatically convert them to BTC at the point-of-sale. So I have the stability of the US dollar in crypto form but I have the network reach of Bitcoin. It's really convenient and I don't have to worry about day to day fluctuations of Bitcoin."

NuVentures has used NBT on several occasions to settle the payment for its website design renewal. NBT was used as a cryptofiat or synthetic dollar to conduct an international wire transfer, virtually at no cost.


- Distributed direct governance enabled by the peershares/nushares template is a bliss:

"NuShares holders have a unique ability to directly vote on market policy that is aimed to provide an uncommon service to the crypto world. Pegged digital assets have existed in various forms but not to the degree and success of NuBits. It's pretty amazing to see distributed direct governance in action simply by owning a digital asset."

"The supply of stable tokens needs to be inflatable and deflatable to adjust the supply to demand.  Without that mechanism you will always have more or less volatility. Nu has this mechanism."


- Top transaction volume

"NuBits have had the top transaction value among stable digital currencies (BitUSD, CoinoUSD, Tether) most days, and have frequently been in the top 3-10 overall during periods of extreme Bitcoin volatility. "


The (near) future ahead is very bright for NuBits. 

NuVentures sees NuBits's path to mainstream adoption going through different stages.

The first stage is replacing Bitcoin as the primary intermediary currency (liquidity token for trading) in the crypto market. That shall be achieved through NBT price stability and liquidity operations. 

NuBits aims at becoming the number 1 crypto-currency. NuShares the number 1 crypto-share. Bitcoin being the number 1 crypto-commodity.

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release   2015/12/04   gbboy

Why we funded B&C Exchange

Blocks & Chains Decentralized Exchange is the first Decentralized & Distributed Exchange native to the Satoshi-based Blockchain, without the use of proxy assets.

"Unlike centralized exchange websites, exchange operators will have zero access to funds and zero responsibility for customer account information.

If an exchange website disappears suddenly, a user can simply go to another site that uses the same open source exchange software, or use another application that supports B&C Exchange and continue using
the same account without interruption.

There are no privileged nodes, although certain BlockShare (BKS) addresses will be assigned a reputation score by minters, and those with the best reputation will be chosen as deposit address signers.

A highly responsive reputation system combined with security deposits and a tolerance of up to 7 rogue reputed signers in the case the network is configured to use 8 of 15 multisig addresses means the chance of exchange default is exceedingly low."

B&C is a service that caters to all blockchains.

"In order to sign for foreign blockchain deposit addresses, a client must be connected to the foreign blockchain. One signer may choose to sign for Bitcoin deposit addresses, which means his client must be able to connect to a Bitcoin client. Another signer may choose to only sign Litecoin deposit addresses, which means his client must be able to connect to a Litecoin client.
People who just want to use exchange services don't need to have their B&C Exchange client connect to any foreign blockchain, such as Bitcoin or Litecoin.

A particular individual might choose to be a reputed signer for the Nu blockchain. To do so effectively, he will need to make sure his B&C Exchange client is always running and always able to connect to his Nu client. He will need to convince shareholders to upvote his reputed BlockShare signing address. This reputed address will be used to sign reputed signer deposit public key lists, or deposit key lists to be brief."

Also remarkable is the ability to resverse transactions and to act as escrow, in an extreme secure way.

"The B&C Exchange architecture is well suited to provide reversible or escrowed transactions on any supported blockchain. It can do this without any protocol changes on the blockchain in
question. Non-reversibility of transactions is desirable in some contexts, but has been identified as a serious flaw of Bitcoin and other cryptoassets in other contexts. A reversible payment could be made to a multisig deposit addresses.


"B&C Exchange will become the first decentralized stocks market place in the world.
Imagine the revolution.
On B&C Exchange, not only btc and other crypto-currencies will be traded but also any crypto-asset that is "Satoshi-based."
Crypto-shares that are based on peershares blueprint, included.
Not only can we imagine that nushares will be traded on b&c, but also its own shares, b&c shares, and any shares that belong to any DAOs.
The consequence of that is that b&c could spark a revolution in the IPO funding of any business.
A business that needs to raise funds will create its own peershares blockchain and then go IPO from day one and float its shares on b&c.
Also, as Jordan Lee envisions it, it seems natural that NuBits will be used to get in and out of the market...as a synthetic dollar as one uses the USD to buy google stocks and sell them back for dollars" -cryptog



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release   2015/09/02   gbboy