DEVTOME.COM HOSTING COSTS HAVE BEGUN TO EXCEED 115$ MONTHLY. THE ADMINISTRATION IS NO LONGER ABLE TO HANDLE THE COST WITHOUT ASSISTANCE DUE TO THE RISING COST. THIS HAS BEEN OCCURRING FOR ALMOST A YEAR, BUT WE HAVE BEEN HANDLING IT FROM OUR OWN POCKETS. HOWEVER, WITH LITERALLY NO DONATIONS FOR THE PAST 2+ YEARS IT HAS DEPLETED THE BUDGET IN SHORT ORDER WITH THE INCREASE IN ACTIVITY ON THE SITE IN THE PAST 6 MONTHS. OUR CPU USAGE HAS BECOME TOO HIGH TO REMAIN ON A REASONABLE COSTING PLAN THAT WE COULD MAINTAIN. IF YOU WOULD LIKE TO SUPPORT THE DEVTOME PROJECT AND KEEP THE SITE UP/ALIVE PLEASE DONATE (EVEN IF ITS A SATOSHI) TO OUR DEVCOIN 1M4PCuMXvpWX6LHPkBEf3LJ2z1boZv4EQa OR OUR BTC WALLET 16eqEcqfw4zHUh2znvMcmRzGVwCn7CJLxR TO ALLOW US TO AFFORD THE HOSTING.

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NXT Multigateway

The NXT Multigateway is a decentralized platform for trading cryptocurrencies. It is similar to a cryptocurrency exchange like CoindUp in function but, because it is decentralized, transaction fees are an absolute minimum and it is more secure.

Basic Function

The creators of the Multigateway have issued assets that corrospond to different cryptocurrencies such as Bitcoin and Litecoin. When someone wants to deposit one of these cryptocurrencies into the Multigateway, a wallet address is generated. Once the coins are deposited, they go through a multisigniture process and are split over multiple accounts before the person who deposited them recieves the corrsponding asset on their NXT account. The asset can then be sold for NXT or traded on the NXT platform.

If someone wants to make a withdrawl, they simply place the Bitcoin account they wish to withdraw to into the “withdrawl” section of the Multigateway and enter the amount they want to withdraw. Once they do this, the asset goes back to the issuing NXT account and the coins are sent to the address the user entered.

Security

The coins deposited into the multigateway go through a multisigniture process and are split amoung 3 servers, each of which have multiple wallets. If someone wants to steal the coins they need to not only hack one server, but two then deal with multiple accounts and multiple multisignitures, making it next to impossible for someone to run a large scale hiest on the Multigateway.

The Multigateway is set up so that no single oporator can make a withdrawl. All three servers need to be in agreement before a withdrawl can be made or an asset can be sent out. This prevents prevents the operators themselves from stealing funds from the Multigateway making it a near trustless system.

More information on the Multigateway's security can be found here: http://multigateway.org/user-guide/user-support/

Supported Cryptocurriencies

Cryptocurrency Status Asset Name Asset ID
Bitcoin Supported mgwBTC 4551058913252105307
Litecoin Supported mgwLTC 2881764795164526882
Darkcoin In Development Unknown Unknown
Dogecoin In Development Unknown Unknown
Vericoin In Development Unknown Unknown
Bitcoindark In Development Unknown Unknown
Earthcoin Planned Support N/A N/A
Maxcoin Planned Support N/A N/A
Startcoin Planned Support N/A N/A

Catagories


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