Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 67. (Read 941285 times)

This is not yet another ICO where some coin is launched, this is the turning point for one established platform to deliver another. And this new platform is, by definition, going to host eventually many different coins because it is a multi-blockchain platform.

NXT, that was born in 2013, is the platform where Ardor was designed and from which it was developed. And it also is used to set the initial distribution of tokens for the new platform.

ARDR will be the main chain token of the Ardor platform. And before it runs on its own blockchain (starting January 1st, with the launch and the Ardor genesis block) it has been initially distributed on, and traded on, the NXT platform as an NXT asset.

And IGNIS is the token for the first child chain (or sub-chain, or whatever you prefer to name it for clarity) that will be hard-coded in the Ardor platform at launch. While the main chain, and ARDR, will be only used to secure the whole platform and generate the new blocks in the chain, IGNIS can be used for all the other things that its predecessor, NXT, can do: issue assets and currencies, send messages, cast votes, define smart transactions, sell digital goods, etcetera. All these features will also be available for any additional child chains that Ardor might include in the future.

The only naming that may appear as unnecessarily confusing is the JLRDA token, a currency in the NXT blockchain that the developers are using for half of the distribution of the future IGNIS coin, the half sold in the ICO. It would have seemed easier for them to use the same name for the token, IGNIS. But I suspect that, if they did not do it this way, it was because the code name IGNIS was already used for a currency in the Nxt monetary system. Or squatted by someone who moved fast and wanted to exploit it. Since these token names cannot be duplicated, the developers had to go for a different token name for the sale.

I understand that this scenario is more complex than other ones you may have seen for other projects being born, but hopefully what I explained can help you to understand that there's reasons behind the apparent complexity.

It is confusing because there are so many coins. NXT / ARDR / IGNIS and not sure how many more will come. Why cant it be a single coin? Sorry .. I am just trying to understand.

Why confusing? Almost all crowdsales have priced their tokens using a ladder, with earlier investors getting lower prices, raising along to the end. Which in the case of IGNIS is an airdrop distribution of 50% of the supply.

And the question about how many of your NXT you should spend in JLRDA / IGNIS and how many you should keep and go for the airdrop only is pretty much like all the questions like "Should I buy or sell?" or the infamous "How high will the price of this go?".

The only reasonable answer is: take responsibility and do your own diligence. Read up on the official sites. Make your best bet. The developer team will work in both platforms, but they don't have a crystal ball either.

If there's any rough consensus in the Nxt community is that IGNIS shows better short term potential than NXT in market terms, because there's a launch and more PR in the pipeline. But there cannot be "official advice" for such questions because it is a trading and market topic, subject to many factors that are not under the dev team control.

For me, I will just hold my NXT to the end.
It is not because I believe it will be worth more, which is possible though, but because I have been holding it for almost 4 years.

The question is what does team NXT / ARDR / IGNIS / JLRDA believe or what is the thought process in pricing JLRDA in this confusing manner? No one is able to confirm whether 1 should hold NXT or buy JLRDA?

They will if they believe that those 19 IGNIS will be worth eventually more than 100 NXT.

First, let's avoid misunderstandings. The NXT wallet never closes because it is a decentralized blockchain app. What is closing in the end of the year is the MyNXT web wallet, which is a third party service. Details about the timing of this sunset can be found at their FAQ.

The IGNIS tokens earned in the christmas NXT balance snapshots for Ardor genesis block can be obtained in the Ardor platform, after it launches on January 1st, by using the same passphrase you used for the account where your NXT were at the moment of the snapshot.

For users of the MyNXT web wallet, as explained in the FAQ, this means you need to download a wallet backup from the site in order to get the actual passphrase for the account you used at MyNXT. That passphrase will unlock the same account using the Nxt Client, and once the Ardor platform is launched, that passphrase will unlock the account where the tokens earned in the snapshot will be.

Since obtaining the passphrase from MyNXT web wallet accounts will be necessary eventually for Ardor, you just need to do that before December 31.



https://mynxt.info/currency/823491988455668070

But in case of the doubt, anytime you use the latest official Nxt Client wallet, whether you download it or prefer to use the public Nxt wallet from Jelurida, there's a clear option on top for "IGNIS Token Sale" that will fix doubts.

NXT will continue to be here, so don't worry about that.
As to the Ignis ICO, you'd better update your client to Nxt Client 1.11.9, then you will find it easily.

Guys will NXT wallet close soon? And if so, when will we have that IGNIS?

Also I don't understand about JLRDA, because there are too many different jlrda tokens in NXT wallet. Which of them should I buy to get Ignis?

Yeh, only if NXT would be really really low in value then it might make sense to get rid of them for the 19 extra IGNIS. 
Right now it's a great deal to buy and keep NXT. And actually it helps the developer too - since they have to sell the NXT they got though the sale rounds.

There is a catch here. From 28-Oct to 4-Nov, if I have , say 100 NXT & if I buy JLRDA, i will get approximately 69 JLRDA (68.96 to be precise). Which means I will get approx. 69 IGNIS later. but if I keep my 100 NXT as it is, i will have 100 NXT and get 50 IGNIS too

Why should anyone buy JLRDA for 1.45 NXT

https://www.nxter.org/nxt-news-october-2017-iv/

https://bitcointalk.org/index.php?topic=1605144.0;topicseen

Important announcement regarding Mynxt.info wallet: https://nxtforum.org/mynxt-info/mynxt-web-wallet-closing-in-the-end-of-2017

This is the Ignis ICO Schedule. As you can see, the Price of 1 JLRDA in NXT has risen from 0.4 to 1.05.
Nobody knows how much will be Nxt worth after the snapshot.
Dates   JLRDA tokens for sale   Price of 1 JLRDA in NXT
Aug 05 - Aug 12   60,000,000   0.40
Aug 26 - Sep 02   80,000,000   0.55
Sep 09 - Sep 16   100,000,000   0.76
Sep 23 - Oct 21   100,000,000   1.05
Oct 28 - Nov 04   up to 100,000,000   1.45

#Ardor vs the competition 5: #Stratis


https://www.nxter.org/ardor-vs-the-competition-stratis/

Thanks for the quick reply. But if I have 100 NXT as of today, i will get 50 IGNIS any way (as I understand 1 NXT will get 0.5 IGNIS). So I assume IGNIS is priced in a way, that holding 100 JLRDA is more beneficial for investor rather than holding 100 NXT?

For 100 JLRDA bought today, you'll receive 100 Ignis, nothing more.

Can you please clarify, if I buy 100 JLRDA, how many NXT, ARDR & IGNIS do we receive? Thanks.

The final snapshot will be taken around Christmas day (block 1630000) and the Ardor Platform will launch on 1st Jan. See https://www.jelurida.com/ardor-release-timeline.