Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 153. (Read 941382 times)

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.

NXT is a pioneer  in showing crypto space how to destroy a coin from inside .

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.)

The second Nxt Vanity Account auction has started, starting bid 100 NXT!

https://nxt.org/roadmap/

When does the snapshot begin? What about Nxt on exchange wallets?

The FNX chain will be as Nxt 1.x with the added benefits of being on the Nxt 2.0 platform.

Nxt 1.x will in this plan only be supported with bugfixes and general support, but work on new features will be done on 2.0. However, if other devs want to work on 1.x, this is still possible. The core team just doesn't have the man hours to do both.


Yes and yes.

They will get Fnxt (now FXT) ata 1:1 ratio based on a three month snapshot period (they will receive assets representing them which will be freely tradeable) and will receive FNX (the Nxt 2.0 tokens if you will) at a 1:0,5 ratio at the time of launch of mainnet 2.0.

So, a childchain on Nxt 2.0 doesn't look the same as Nxt 1.x? Or maybe in the beginning, but after a while new functions will be added to the Nxt 2.0 childchains and NOT to Nxt 1.x?

Yes i believe so.

Will holders of Nxt get Nxt 2.0 and Fnxt?

I originally thought that we would keep NXT as it is, then add "Fnxt" alongside for forging.
So now, if im correct is that NXT will remain, but FXT and FNX will be added as seperate chains?

I thought the current Nxt was going to be one of the childchains of Nxt 2.0/FXT. Haha, still learning. Not much time to read all more in details. 

Sorry, but this needs to be corrected.

Nxt 1.x will remain and will continue to be supported.

Nxt 2.0 is a new chain, that is split into a main chain (which will validate using FXT) and many child chains (the first of which will be using FNX as transactional token).

Nxt 1.x and 2.0 will have no direct relation on a blockchain.

Nxt 1.x is not being abandoned, but it will not receive new features from the core team. It will get bugfixes and updates that are required for safety and maintenance.
This does not mean new devs could not take on this project, though.

No Nxt as it is stays. But now it will get a motherchain underneath. You can use Nxt as you do now!

EDIT: I added the news to Nxt.org https://nxt.org/russias-central-securities-depository-uses-nxt-blockchain-voting/

Sorry, perhaps i dont fully understand, but i thought NXT 2.0 was designed to replace the old NXT blockchain?

We have seen similar things happen with other coins in the past.

Maybe jl777 will take over Nxt 1.x?

I created a special topic about it to discuss how they made this happen and how Nxt did beat Ethereum and Bitcoin and for which reasons. This is a real government agency which choses POS and because of the simplicity and functionality. Big news!

Join the conversation here: https://bitcointalksearch.org/topic/russias-national-settlement-depository-successfully-tests-e-voting-with-nxt-1485090

Russia’s National Settlement Depository Successfully Tests Blockchain-Based E-Voting System

https://bitcoinmagazine.com/articles/russia-s-national-settlement-depository-successfully-tests-blockchain-based-e-voting-system-1464198071


"Rymanov explained that the NSD’s e-proxy voting proof-of-concept (PoC) project specifications required setting up a private permissioned blockchain where every node participating in the network is known, and included a number of specific challenges related to processing capacity and permission-based access to the data. According to Rymanov, other blockchain technologies such as Bitcoin and Ethereum couldn’t meet the project’s requirements with an out-of-the-box solution, which motivated the choice of the NXT platform."

“Using the proof-of-work (PoW) Bitcoin blockchain would have potentially created a situation where a particular node with a superior computing power could gain an unfair advantage over its peers, thus jeopardizing the security of the network and, if being a malicious actor, could rig the results of the vote,” said Rymanov. “Furthermore, we see PoW systems as an unnecessary drain on resources in private permissioned blockchains.”

“With regards to Ethereum, our team has been in touch with the Ethereum core developers and has been informed that the current limit on processing is around 60 transactions per second,” added Rymanov. “However, even though Ethereum offered a huge improvement both in functionality and processing speed over Bitcoin blockchain, it did not match the NSD requirements.”

“After a careful consideration we have selected NXT,” Rymanov said. “The proof-of-stake (PoS) blockchain has provided us with enough flexibility to architect a solution that is scalable, stable and with processing capabilities well in the range of NSD expectations. In the lab environment we have pushed DSX fork of NXT to process up to 800 transactions per second. With the custom developed e-proxy voting module running on top of the NXT fork we have stabilized the system at 80 votes per second, which is 160 transactions per second reaching a notable result in line with NSD expectations.”

https://twitter.com/NxtCommunity/status/735538901859860481

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.