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<tadakaluri> How can I create an asset on Stellar?
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<tadakaluri> how much it cost (stellar)?
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<tadakaluri> where can I find more information about issuing assets on Stellar?
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<sacarlson> I've never heard of this http://nxt.org|nxt.org but from breaf reading it sounds to have similar features as stellar
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<tadakaluri> I am wonder about you are not aware on NXT
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<tadakaluri> as you are working with Stellar
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<sacarlson> stellar transaction fee's are 100 stroops or 0.0001 Lumens. Lumens cost about 0.002 USD I think (not sure present price)
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<tadakaluri> I am familiar with BTC and NXT
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<tadakaluri> I have my personal asset at NXT
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<tadakaluri> But I am fully noob with Stellar
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<tadakaluri> there are not more features in stellar wallet
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<tadakaluri> but NXT have lot of features, including asset trading platform within NXT Wallet
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<akinsawyerr> NXT looks interesting. Seems to be focused on enabling individuals/organizations to develop currencies and manage personal assets
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<tadakaluri> Yes, You are right
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<tadakaluri> Fee to issue an asset at NXT is 1000NXT
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<tadakaluri> And all it takes just a minute to create an Asset
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<akinsawyerr> Are most of the nodes on NXT individuals or organizations
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<tadakaluri> All assets are on NXT nodes, and safe
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<akinsawyerr> Thanks that answers my question
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<tadakaluri> I can help you to issue an Asset at NXT
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<akinsawyerr> Thanks. But not looking to. It was just a research question
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<tadakaluri> ok
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<sacarlson> asset creation is much the same on stellar but it cost much less than 1000 NXT it's 20 lumens for basic account plus 10 lumens for added trust in an asset. it cost nothing to issue an asset other than 20 lumens for a basic account
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<akinsawyerr> Aha!
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<sacarlson> takes about 30 sec to issue a new asset
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<sacarlson> @tadakaluri: what is the transaction speed of NXT network? I looked on wiki and failed to see it? it's 10 sec transactions on stellar
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<tadakaluri> It is almost the same
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<tadakaluri> How Can I issue an Asset with Stellar?
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<tadakaluri> I would like to issue an Asset with Stellar..........
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<sacarlson> all you need to so to issue an asset on Stellar is setup a trust line on a holder. then send that account as many issuerd asset as you want
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<sacarlson> from that trusted asset address
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<sacarlson> my app can also be used to setup trade buy and sell orders with these created assets
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<sacarlson> @tadakaluri: as a test you can try my app link above and send me your auto generated random public address. then go to the advanced section of my app and select add trustline. hit the default account in it and I can send you that asset. Later you can create another account key set and set that up as a trust line to become your own issuer.
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<sacarlson> maybe I need to make a http://youtube.com|youtube.com video?
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<tadakaluri> That's better
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<eva> @ tadakaluri I have a draft tutorial on issuing an asset -if you’re interested I can dm you the link :)
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<eva> I think it does give a sense of the kind of scale needed, especially considering that m-pesa is *just* in one country. Also gives a sense of how much fees can add up...
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<akinsawyerr> It sure does
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<akinsawyerr> How does Stellar stack up
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<eva> In terms of just network fees, it’s not even close (though it should be noted that anchors/gateways can charge their own transaction fees). To give you a sense of how tiny transaction fees are, 5 million transactions cost roughly $0.20 in fees (20 cents).
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<akinsawyerr> Crazy
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<eva> And for scale, I believe the tests we’ve run show 100o’s of transactions per second, but I would let the dev team speak to that :)
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<akinsawyerr> Key would be to find the least expensive anchors/gatways and agents
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<eva> yes, and of course having an open, easy-to-join network means more anchors/gateways/agenst
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<eva> so more competition/ lower prices
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<eva> ( at least, that’s the hope)
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<eva> I think there are also more effective business models than charging a big transaction fee; it’s just the only one agents have right now.
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<akinsawyerr> Yup.
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<eva> Also the Stellar network infrastructure is so much cheaper to run that the costs of maintenance can shrink, which is also great for being able to charge less crazy fees.
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<eva> @akinsawyerr: I know that in many U.S. banks, transferring money between banks actually ends up losing them money, even with the fee they charge to end users. They have to regain that loss through other services.
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<eva> So infrastructure cost is huge
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<akinsawyerr> Right
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<akinsawyerr> @eva: Does adding your handle as a prefix send a note only to you?
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<eva> @akinsawyerr: no, it isn’t like twitter. But you can send me a direct message that’ll only go to me (click the plus button on the “direct messages” column on the left :)
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<akinsawyerr> yeah knew that part
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<eva> Gotcha. Yeah, Slack isn’t that sophisticated yet