Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 152. (Read 941260 times)

I don't understand Nxt 2.0 for 100%, but I see a lot of potential for sure. And of course free FXT and free FNT.  Damelon explained more about it on Slack and I want to share it here too.


Hope this will help others understand Nxt 2.0 better. More to come soon with a professional marketing campaign (yes, Nxt and marketing are coming together) 

1. release of the 1.9 version to mainnet.
This will be the start of the snapshot period for FXT distribution that will last for three months
This will be followed by
2. Automatic distribution of the FXT Token
This will start a period where people can freely trade FXT Token
I can imagine that this will also be done via "traditional" channels, so we might go to exchanges
3. This period ends with the creation of the Genesis block for Nxt 2.0
The Genesis block will mean the FXT becomes active and also that people will get FNX at a 1:05 ratio to what they have in their Nxt accounts at that time
Some key points that people ask often:
Q: will Nxt 1.x disappear
A: No, Nxt 1.x will *at least* be supported a full year after Nxt 2.0 goes live. This is not a hard limit, so if it's still actively used, this period may be extended
Q: Will we need to burn Nxt?
A: NO. ALL people holding Nxt will get a FREE ticket to Nxt 2.0 in the form of FXT
Q: Will Nxt 2.0 work on the Nxt blockchain?
A: No! Nxt 2.0 is a completely new and independent system
Q: Is this dilution?
A: This is a debatable statement. I've seen several takes on it. Good food for discussion, though
Q: Is Nxt 2.0 really free?
A: Yup, if you hold Nxt, you get in for free. Of course, if you don't have Nxt, you'll have to buy them

1 Nxt will give you 0,5 FNX
FNX is the transaction token (On the childchain)
1 Nxt will give you 1 FXT (Staking token, for forging/mining/staking, name is not in stone yet)

Actually it's going awesome.  Sorry I've been so quiet.  I moved up north to be closer to this project, but my computer didn't survive the move.  Fortunately the data loss to this project was minimal.  Also I had a huge edge...
Eric who introduced himself earlier has been a HUGE help and if this is successful it will be in large part due to his efforts.

So here's where we stand...

For the purposes of the primary we decided to keep things as simple as possible.  This means we will be using the default NXT voting system, with custom, extremely simple client on top of the existing JSON rest APIs.

It works for the primaries because there are no write in fields we need to accommodate.

In order to control access to the poll, we created a new NXT monetary asset called VOTEUM symbol VOTUM.  It's just an internal marker, not intended for general consumption.

In the next 24hrs we will be performing a dry run by setting up a mock poll exactly like the one we will be using in the real primary.

The purpose of the dry run is to shake out the custom voting client we created, vetting it on as many different devices as possible prior to the primary.  So when the dry run is ready I will be posting instructions on how to download the client.  Once the client is installed, just post your NXT address and I will send some VOTUM so you can participate too.

If you happen to live in California we could really use more boots on the ground, especially technically literate boots.
We are starting to get media attention, and this attention is causing the ranks to swell.
https://www.facebook.com/notes/election-justice-usa/independent-citizens-election-audit-to-be-conducted-in-select-precincts-in-calif/889795561147138

As a side note the "code" talked about in that posting is actually an NXT paper wallet, so we're basically turning every California primary voter into an NXT user too.
Enjoy!

p.s. Riker, the wallet at http://62.194.6.113:7876/index.html is outdated. Since it's kind of the "semi-official webwallet" and linked from the NXT main page, someone really should get that fixed as soon as possible since we will be directing the California primary voters to there to check their results.

Hello everyone,

We decided to publicly disclose that I joined the NXT Foundation a few days ago. While I am not the most active person on the forum I work as a banking consultant for Sopra Steria (Consulting and Technology Company) and am at the front line when introducing the blockchain technology to Banks and Financial Institutions in Europe. As you might have understood, I mostly work on Blockchain in my daily work.

Therefore my role will be to promote NXT and grant licenses to companies that want to build products both on top of NXT or on private NXT chains.

We have been working with major banks and payment companies in France, and I promoted NXT when it could be. Please note that this activity is not linked to my Sopra Steria activities directly. Whether I may or may not promote NXT during meetings is based on deep analysis of the various frameworks available in the open source communities and I do not receive any money from the Foundation or the developers. If this should change I would keep the community informed.
Additionally, I am one of the original NXT Founders, here is the proof:

Token : lt3d0e8r19eko4b69a257dr5g25o6gfhjisvov67313lrramnkeei18bp9se81g4hvoqdma1tqfapm9 hth05vu6qh19lbp9t6rqn4pjqo4i0dn9mj3m6r5peu9ou2h4q1u88mptj68ua3tsid5tio9l8kvjeed fq

Data : Founder

Please feel free to ask me any information regarding my work for the Foundation, or why I believe that NXT has the keys to succeed. I hope that we will be able to bring you good news soon. Please understand that I can’t speak of any ongoing deals or discussions with any financial institution.

Best.

Alexandre

May 2016 Profit Summary (LQD, Asset #17750387231635486778)

Stats URL: http://liquidtech.info/summary
Assets: 325,359
Capital: 8,432,796
ROI: 66.57%
Total Profit: 3,370,122
Divs Paid: 1,011,037
Div/Asset: 3.107 (TX: 13317707396644648277)

Well, I think the numbers speak for themselves.  Profit over 3M NXT or 24BTC!  Massive volume in May mainly from ETH and MAID and then at the end LSK and DOA really brought some great returns this month.  One week, we made over 1 million in trade profits alone.

Still a large part of the total profit came from the drop in the price of NXT, so not great there, but it does increase the fund's NXT value because we mainly hold BTC for trading.  The algorithm is working well, although I'm still tweaking here and there as edge cases arise.

Remember, check your NXT LEDGER for the dividend. If your shares are on Poloniex (https://poloniex.com/exchange#btc_lqd), Tristan has already been alerted and should be paying out soon.

Thanks for your investment.  Feel free to contact me on NXT slack or here on the forum if you have any questions.

LibertyNow

Well all of JL777s project assets are going on Waves and will be pegged against BTC. Coinamat as also leaving I believe. Nxt Asset exchange will still have Jinn, but I am not sure what other significant projects it will retain.

I think these platforms like Waves first need to proof themselves. Companies don't just put their assets on a alpha-platform with low fly hours. Nxt has the best AE in the crypto world.

All this is potentially true. However, I think many of the major assets will have moved to platforms like Waves long before any of these other things happen. What makes a platform attractive is # of users and the Nxt Asset Exchange destroyed its ability to keep market share. So it will be replaced. Yes, some will be lazy and stay, but not the ones interested in their immediate future.

Well, it's kinda risky. It could lead to 2.0 failing. All the Digital Good Store goods, and Asset Exchange assets, will by default remain on the 1.0 chain. So by default that's where all the action is. With 1.0 continuing for at least a year, there's no particular reason to move. Basically, 2.0 will be a new alt-coin that competes with 1.0. Unlike most new alt-coins, it'll inherit many of the perceived problems of Nxt including the initial distribution. That the devs will be holding onto 50% of the transactional coin will be seen as a further distribution problem by some. 2.0 is supposed to be more scalable, but scalability has been only an academic problem so far because the relatively small number of users, so who really cares? God knows what will happen to prices. Each NXT will effectively split into three coins, and we have no idea how much of the value will go where.

Maybe, when 2.0 launches, a lot of people will decide to wait and see before moving their assets. If not enough people switch their activity to the new chain, 2.0 could fail.

(And in the mean time, the Nxt community is incurring a huge opportunity cost as man-years of effort are poured into 2.0 instead of into other features.)

Going on to support 1.x while keeping 50% of transactional token of 2.0 is a genius idea. By that you get funding and avoid expropriation. It's like squaring the circle. Strange that this great and simple idea didn't come up in the big discussions of the last months.