Topic: nxt - who knows more (Read 749 times)

They have stepped into the race with Lisk's sidechain dapp system. 

The race to see who will get the first mover advantage in the scalable programmable smart contract space

who will win?

vote here:

https://bitcointalksearch.org/topic/m.14595504

i thought about buying more. but the price knows only one direction at the moment. have you bought nxt?

Buy low sell high,  right? Well you have to be able to buy low and not sell low.  If you sell now, you're high.  Buy!!

You can't be invested much, if you don't even make the effort of reading the OP of the 2.0 thread. It is not Chinese.

over complicating
at least for the simpletons like me  

i can grasp:
BTC = parent = the BLOCKCHAIN / hash
xcp = child/protocol layer (btc fee and bundles 'colored coins' with the parent chain)
gemz,strojx,bcy = assets (xcp fee and bundles them with the child chains)

now my (vague) understanding is:
parent == fNXT blockchain
childchains/protocol layer = transaction ledgers = "bundlers" = pay them fNXT
grandchildren = Monetary System (MS) Currencies = 1440 block chains = pay them MS for "forging" = they will pay the fNXT "bundlers" to bundle
great garandchildren =  NXTasset = naut,unit,coinO$


So you have:

- top layer aka fNXT_blockchain >> 'bundlers' and by POW get fNXT (but it is not really POW it is POS_NXT2.0)

- 2nd layer 'child chains' aka NXT_blockchain (pruned at 1440 blocks)

- 3rd layer (UNITY) so that is all kinds of Hash, cryptonote, sha256, and POS ... like 7 independent chains that will AuxPow ... do "forging" and 'pruning' on the NXT_blockchain ... they work for NXT, SYS, bool, btcd, etc

- 4th layer the assets / they are created for NXT? / and moved/transfered for (MS) Currencies including NXT

fNXT will be the main blockchain. The NXT currency will not be an asset, but a "child chain". Child chains are transaction ledgers like the main block chain, but these transactions will only included in the main chain if there is someone who pays a fNXT fee and bundles them with the main chain (so-called "bundlers"). The bundlers get the fees in the child chain currency. So a NXT bundler who creates a "child chain block" (which is a special kind of fNXT transaction) gets all NXT fees from the transactions in this block.

As I understood it, the child chains will be the actual Monetary System (MS) Currencies, while assets will be available in all child chains and can be traded for every other MS currency. Assets will not be child chains but a separate category.

fNXT will be used mainly for forging, and only basic transactions are possible with this chain, no asset trading or other fancy things.

There are two very important advantages with respect to the current system:
- Actual MS currency transactions must pay fees in NXT.  In NXT 2.0, MS currency users can pay transaction fees in their own currency.
- The child chains will be pruneable, only the fNXT main blockchain not. So the blockchain as a whole will be way smaller than actually. Archival nodes can opt to save the whole blockchain data. But for ordinary NXT users it will be way easier to maintain a node, and the scalability problem would be largely solved.
- I am not sure, but I think I read that this design will allow also direct asset-to-asset trading and trading of assets with MS currencies.

Well, these are more than 2 paragraphs, but perhaps now it's a bit easier to understand.

this would be great. i read it but i would have to read it at least twice to be able to give you this summary.

anyone care to explain it all in 2 paragraphs?


fNXT = the blockchain_PARENT
NXT2.0 = the old blockchain converted into an asset  just like the other children (nxxty, naut, barr, liquid, skynet, unity)   

Future plans for NXT? If you have time, you can read this thread:

https://nxtforum.org/core-development-discussion/nxt-2-0-design/

(Be warned: It's pretty long.)

Development has already started, but there is some controversy around it, so there is no euphoria at the market still and price remains low.

it's going to zero, sell!

hi

does anybody know something about nxt?

i checked the website. nothing.

do they have plans for the future of nxt?

i am losing money and do not want to lose more.

sell or hold?

thanks for sharing your insider information.