NXTER.ORG

A Week With Sergei

ALMOST everything started on Bitcointalk, in 2013.

"Well, I learned about Nxt for the first time back in 2014. I was amazed at the functionality and ease of the interface.  I even tried to launch the Fastnxt Currency Exchange, [but] I had to close due to low volumes".

We are happy to introduce this week's awesome Nxter: Sergei, NxterPuzzle keyholder of the week.

Prize account is ARDOR-HUPP-RL9H-RYVU-FKB8D. 100 IGNIS is in it. And... look at this!

For a period, Sergei lost interest in Nxt and the whole crypto sphere. Then, as information sources all over exploded with the news of crazy price rises, volumes and cryptocurrency growth in 2017, he remembered. He remembered that he used to like this thing, Nxt.

I started watching what online services were still alive. And I found that the services that I loved so no longer worked. And the projects that were popular in 2014 were closed. I decided, that I myself would recreate what I needed. I wrote to abctc, he supported my ideas and I began to work.

I decided to take everything into my own hands. I was also upset that such a product has so few supporters. I decided that in small steps, you can slightly improve the situation.

During the beginning of ardor.world, people from the Russian telegram community helped me a lot. In essence, the project has grown before their eyes.

Indeed it has. And before the eyes of all of us. Soon Sergei revived NxtReporting, the service that original Nxters used daily to keep track of their Nxt asset portfolio's performance. Next: he ported it to Ignis. He wrote a NXT and ARDR price bot for Telegram. He launched test-coin faucets for NXT, IGNIS and ARDR - still the only ones available (!), added various nice explorer features, a news feed page + a Russian translation of our “Ardor vs.” series, which compares Ardor’s child chain architecture to other known blockchain platforms. Sergei... - we, and the devs, and the global community, we thank you!

THIS WEEK, word by word, Sergei Chumak will announce the passphrase to a NxterPuzzle prize account. Follow his Twitter feed, pick up the words, and suddenly... they will open an account. The fastest to log in to it will be able to claim the reward. Most likely, you will learn a lot more about his useful services at ardor.world along your way. Enjoy his company..!

The puzzle prize is sponsored by the ANG.

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Oh, look what I just found in the drawer. Nice print, innit?

PRESS RELEASE: Free class for beginners on Lightweight Contracts!

Lightweight contracts are now live on the Ardor TestNet! But what does this mean for the average Ardor user? There are many articles about Lightweight Contracts but the information is often abstract and hard to understand.

Fortunately, a new class on Udemy has been released that makes lightweight contracts easy to understand!

The class explains lightweight contracts at the most simple and basic level. In fact, the class is made for people with no coding background!

Here are the highlights of the course:

  • Simple introduction: Even if the student has never heard of Ardor, an introduction shows users how to set up the Ardor software
  • Step-by-step instructions: Every single step of deploying a contract is shown in detail. Anyone can do it!
  • Explanation of tools: Easy-to-understand tutorials about 2 pieces of software (Java and IntelliJ) and 2 utilities (Contract Manager and Contract Runner).
  • Examples: Not just boring academic lectures, students are guided through the process of deploying your own contracts.
  • Exercises: The final challenge of the course is deploying a blockchain lottery contract, with the full solution available.

The best part? The course is completely free with code “ARDOR-CONTRACTS”!

Caption: Screenshot from the class showing part of the contract deployment process

After taking this class, users will have a clear understanding of how to deploy lightweight contracts that can be used for any purpose, whether its businesses, non-profits, or hobbyist. Using lightweight contracts will help you turn your ideas into reality! This is your first step in becoming a blockchain developer.

The class is produced by Eric Funk, who also produced the Ardor Bootcamp class. Ardor Bootcamp is the complete overview of Ardor and shows users how to effectively use the software for any purpose. It has been extremely successful, with 2,200 students from over 100 countries. Thousands of new users and developers have been introduced to Ardor thanks to this class. Eric Funk is one of the best educators in the blockchain space and is available to create instructional videos for other Ardor-related projects.

A Week With Elizabeth

It's with great pleasure that we invite you on another journey.

This week we invite you to follow a great veteran from our community. An always inclusive and hearty, inventive professional no-troll-accepting designer and businesswoman. One that understands the true power of giving, an important leg of the long gone Nxt Starfish, co-founder of the Nxt Foundation, now head of the ARDOR & NXT GROUP. QBTC, The Cryptowoman, Elizabeth Mong, once lost but also returned (to the foreground), strengthened, and with even greater warmth, knowledge - and nice Ardor stickers too. 🙂

Madfox (as Sazan and you all rocked the Nov II puzzle), wrote:

This is the beginning of a great series. Next week (Nov III) I'll make A Week With Elizabeth. We will highlight them all!!

To solve the puzzle - you should wait for the puzzle!
What are the clues - encrypted message in the prize account will tell

The prize account: ARDOR-SGZ8-EC8Y-TWZC-5VL4T. 100 IGNIS in it. [UPDATE: 300 IGNIS now!] Bit by bit Elizabeth announces the passphrase. Puzzlers follow her feed, pick out words, and will in the meantime stay updated about the greatness of blockchain.

But... Alice and Bob know: that's not even a puzzle. Therefore, this week:
The first person to pick up the full passphrase and access the prize account first will be able to claim IGNIS, BUT. Anyone that picks up the passphrase and accesses the prize account will get to know how to solve...

...which might lead to a bonus prize. Good luck.

The puzzle prizes are sponsored by the ANG.

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A Week With Sazan

SOLVED!

If you don't know Sazan, check $NXT $ARDR on Twitter.

A dedicated Nxter since 2013, running several nodes, and just as trigger-happy but fair in his harsh comments to Jelurida on Slack as he is on Twitter whenever an article about PoS without Nxt being mentioned comes across his screen. Sazan is lightning, when it comes to tweeting news, finding new press clips and mentions of Nxt, Ignis, Ardor, clones and child chains. A true blockchain supporter, a Maker, powered by Nxt and Ardor love and solar energy - this week's Nxter Puzzle could not be dedicated to anyone but the unparallelled Mr. Sazan Avdiu.

Madfox:

I have a passphrase, it consists of 14 words. Sazan puts 2 words per day randomly in his tweets with the hashtag #NxterPuzzleWord [number] — [word]. Example: #NxterPuzzleWord 1 — generation.

Prize account ID is ARDOR-XWUV-PET6-CT3V-HXNP7. 100 IGNIS to win at the moment, thanks to ANG (ardornxt.io).

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Algebradabra

Karl Theodor Wilhelm Weierstrass was born on 31 October 1815. A German mathematician often cited as the 'father of modern analysis'. The lunar crater Weierstrass and the asteroid 14100 Weierstrass are named after him. Also, there is the Weierstrass Institute for Applied Analysis and Stochastics in Berlin.

About this week's brain workout, Mr. Madfox writes:

The task is to choose the right equations and make a passphrase from them.
Order - left to right.

200 IGNIS are in the Nxter Puzzle prize account and its passphrase is right there. Good luck.

The prize is kindly sponsored by the Ardor & Nxt Group, puzzle creator is Madfox.

All Nxter Puzzles are listed on nxter.org/puzzles - and there are still more IGNIS to be claimed.

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Study Blocks

Every week a puzzle is released for your pleasure. Inside the puzzles lie an IGNIS reward, that the first person to solve the puzzle can lay hands on. Study Thou Must, to find the hidden passphrase, then withdraw the IGNIS in the account it opens.

To solve this NxterPuzzle, you must study the Ardor platform using blocks 377262 through 377281. Key blocks are 337266 and 377275. Block 377278 could also help. Find a message hidden inside the below table and check if this message is a passphrase. There is 500 IGNIS in the NxterPuzzle prize account.

This puzzle was created by madfox, and the prize kindly sponsored by ANG.

Originally posted in Nxter News, Sep. IV. All Nxter Puzzles are listed on nxter.org/puzzles.

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The Spider Web

UPDATE: SOLVED

In the spirit of undead kids begging for candy, zombies, rattling bones, pumpkins, and the resurrection of IGNIS, the theme of this week's Nxter Puzzle is ... All Hallows' Eve!

Madfox wrote:

This font with small webs inside is looking nice.
Hidden long phrase is there)

Go get scared:

The Nxter Puzzle prize is kindly sponsored by the Ardor / Nxt Group.

You'll find 200 IGNIS in the prize account this week. The Account ID is ARDOR-2GRF-FH6B-9EH4-9M3FU. Best wishes.

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The Mystery Of Orion

Update: The Prize is now 500 IGNIS. 

This week, Mr. Madfox takes you on a stargazing trip. 88 constellations - 42 animals, 29 inanimate objects, 27 humans/mythological characters. The constellation of Orion, named after a hunter in Greek mythology, has been recognized in numerous cultures around the world, and this week Orion is the main antagonist in the NxterPuzzle for you puzzlers to unfold. 100 IGNIS in an account, its passphrase is hidden in the text below. By the time the shimmering light from the stars above reaches us through the night sky, they might no longer exist. So take a look at the past. Good luck.

All Nxter Puzzles are listed on nxter.org/puzzles - and there are still more IGNIS to be claimed.

Rawr XD Means Suppertime

UPDATE: SOLVED

Any crypto geek knows about evolution. It all started with Bitcoin.

Or did it?

This week's Nxter Puzzle is a simple crossword, there's 100 IGNIS in the prize account, which you can transfer out if you solve it first. We all have a dinosaur within us just trying to get out. Name your dino peers, don't rawr the solution before you have grabbed the IGNIS in the account - the passphrase is the dino names, written in lower case, divided by a single space, ordered by the numbers given in the crossword below. Attack!

Account ID is ARDOR-Y7DN-TCKS-47EX-7ZYGZ.

Mr. Madfox is - as always - the creator of this roarsome puzzle. The prize was donated by the ANG. Thank you!

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Ardor Rocks!

UPDATE: 3000 IGNIS is now in the prize account!

Ardor.rocks' minivan was packed with famous guitars, but suddenly the door opened and all the guitars fell out! You know how it goes - they are now spread throughout the festival square. Festival bangers and hippies grabbed the guitars - you must find all the guitars and guess the names of their owners! There are 30 well-known instruments. Their owners' names, written in lower case (alphabetical order, divided by spaces) will form the passphrase to account ARDOR-MJES-YL5S-72LT-74UFZ. The first to get access can transfer the IGNIS out.


Click the image to download it in high resolution (about 30 MB!)

Artist's credits: https://www.behance.net/Adamada

Idea and 30 guitars added by @madfox. The 100 IGNIS in the prize account is kindly sponsored by ANG.

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TOKOK Exchange Platform supports IGNIS

In the process of updating Nxter.org to reflect the latest state of our ecosystem, I have been updating myself on exchanges that have IGNIS listed – not all of them are represented on CMC.

One new exchange on the block is TOKOK, launched just months ago, July 2018. NXT and ARDR are supported (due to a community vote), and now it also got IGNIS implemented. Appreciated, of course, not least because IGNIS buyers and traders currently have limited options for choosing exchange, and a wise decision from TOKOK’s side, possibly, for the same reason.

What is TOKOK?

Let’s take a look at the information available. TOKOK is Chinese based, located in the British Virgin Islands, affiliated to Kindly Keep Network Technology Limited (Registration No. 1967379 ). No fiat deposits, so if you want to trade on TOKOK, you need to own cryptocurrency already. It has ETH, BTC and USDT markets. NXT, IGNIS and ARDR trade against ETH.

It’s AML-compliant, so you have to identify yourself before using their services. Picture, social security number, all that… let’s not go into that discussion here, nothing THEY can do about THAT. Upload your full identity to a private company’s central server you must, not. their. fault.

TOKOK wants to focus on projects with a good technical background and future application scenarios in the blockchain field. They are here to contribute, they say, to make a social contribution to the industry by growing a consensus community, and by adding to the development of blockchain technology themselves. TOKOK releases development reports in English on Medium and their website, so everyone can follow the ongoing development of the platform, new listings, and promotional programs. They actually communicate well in English.

Security

Safety first. To protect its trading platform and customers against bad things, TOKOK has partnered with John Wick Security (JWC), a Beijing based security service solution for Blockchain. It’s founded by core members of the security team from Baidu (one of the largest AI and internet companies in the world), 360 Enterprise Security Group, which – according to their website – has provided “security capabilities for companies such as Microsoft, Google, 360, Facebook” with JWC being on a mission to provide comprehensive and in-depth security solutions for blockchain companies and ecosystems.

Not bad, cryptocurrency exchanges should, after all, ALWAYS be safeguarded professionally – unfortunately, unbelievably, and as proven by too many exchange hacks, it just isn’t so! Centralised exchanges are by far the greatest danger to people’s blockchain tokens, so good to know that TOKOK is alert and takes their security measures. TOKOK also keeps a so-called “Risk Reserve” of frozen funds, for further customer protection, and promise that if any user’s assets on their platform “suffer abnormal losses, such as system failure loss, hacker attack loss, etc., [TOKOK] will make corresponding compensation for them after investigation, evidence collection and elimination of the user’s personal reasons”.

Fees for trading

The transaction fee is 0.1% of purchased assets. If you hold their token, TOK, you can use the equivalent value in TOK to deduct the fee. When using TOK, the transaction fee is reduced by 50%, to 0.05%.

No fee for Withdrawal

Withdrawing is free, except for the necessary transaction fee to blockchain forgers/miners.

Interest for hodling?

On September 7, 2018, TOKOK announced a “Deposit With Interest Program”.

What they want is to hold your coins in cold storage and pay you 0.005% in daily interest. The platform scans all coin balances daily at 0:00 (UTC+8) and generates the interest between 0:00-1:00. Users must actively claim their interest (daily) before it expires after 23:59 (UTC+8) or it will not be accumulated.

The money to pay for the Interest Program comes from the 6% of TOK total supply that has been set aside by the team for promotion. As interest is paid in the corresponding currency, TOK is used to buy up these currencies from the market. I asked my contact, June Chen, about this and got this information but no further details, as this is handled by another part of the team. The idea is clear though – “promotion” isn’t just buying ads, sponsored articles and going to blockchain events, but also creating benefits for users, rewarding and building community. Give and thou shall get more in return.

What is the TOK token?

You should know Binance, the world’s largest crypto exchange. And if you do, you probably also know about Binancecoin, BNB. It’s their ICO token and gold calve, giving traders a 50% discount on fees when they pay fees with BNB or trade other cryptocurrencies against it. Oh, and it just so happened to become a Top20 coin by marketcap within less than a year after its ICO in July 2017. Early investors saw a high return, and as a loyalty/utility token, it must be considered as nothing short of a success. And like any success (take NXT, as an example), others will want to follow in its footsteps.

TOK does smell like BNB. You can choose to pay fees on the TOKOK exchange with TOK, and you’ll get a 50% discount on the trading fees. 1 billion TOK were issued. Some gets burned (destroyed) weekly. No more will ever be created. TOK currently can be traded on the exchange against ETH, BTC, and USDT.

Tongue in cheek, let’s take a look at what else is offered TOK holders:

TOK fees:

70% of the TOK that are paid as trading fees are re-distributed equally as a dividend to each TOK on the platform. Holding is like mining, we get it. The remaining 30% is burned weekly (destroyed) and because no new TOK tokens will ever be issued, this is supposed to push up the value of the remaining TOK (and be reflected in its price), as the amount of TOK tokens decrease with every burn.

The non-TOK fees:

Then we have the non-TOK transaction fees. 80% of the non-TOK transaction fees is used to repurchase TOK, which is also distributed to users (TOK holders). The more TOK you hold, and the more trading orders you execute – the more TOK rewards you get. Hold TOK, spend TOK – get TOK.

Other rewards…

25% of the profit earned by the platform (which is of course not just fees) will be equally distributed to each TOK on the platform in the form of BTC, ETH or other currencies. When TOKOK cooperates with crypto teams about their coins, some of the tokens obtained from project cooperation will also be equally distributed as a reward to each TOK. TOK holders have other exclusive privileges, in proportion to their holding percentage – these are announced on the TOKOK blog and include lucky draws (for example, TOKOK recently gave away 100 iPhone X). 

TPS Rewards Points

Finally, TOKOK has TPS points.

These cannot be withdrawn or traded, but are awarded to users that participate in certain activities on the exchange. I couldn’t find much information about this and reached out to June again. He got back to me almost instantly: “A fairly large number of our users hold TPS and we are considering to prepare a gift exchange but for now the platform development shall prevail”.

If you want to buy or trade IGNIS, NXT or ARDR on the TOKOK platform, you can SIGN UP HERE. That’s an affiliate link. By using it, you will be supporting Nxter’s work. Remember – the blockchain wasn’t invented for you to keep your funds in 3rd party wallets – your tokens are safest in a blockchain wallet you control, and our security advice is always to keep them there, use them there, trade on the platform. But when you want to buy tokens with BTC, ETH or trade against them, you can’t do that on Nxt or the Ardor platform (yet), and also, daytraders do prefer the speed of centralized exchanges. The further incentives pushed forward by TOKOK in the form of interest, TOK fee discounts and dividends will likely help them to establish the liquidity and community they need to grow from here. We’ll follow them, as an interesting token use case to watch and not least, a place to buy and trade IGNIS, NXT and ARDR.

Source

Dear Investors, It’s Time To Face The Real Facts

Many of the existing blockchain startups that are looking to raise money are not real businesses. Yes, they have ideas, often brilliant ones that almost sound too good to be true. And then… that’s it. Nothing but ideas put on paper with no clue on how to fully execute it to make the promised prototype. So, time goes by with no real tested product and the investor’s trust starts to diminish.

“Many of the existing blockchain startups that are looking to raise money are not real businesses.”

Several business consultants and companies are out there now. Each with the determination to stand out from the crowd in what they do. They specialize in helping startup companies / dreamers craft their whitepaper and business plans in order to attract investors. Next time you see a beautiful whitepaper think of this. Endeavour not to have so much conviction in its content but also Do Your Own Research. Don’t get me wrong, whitepapers are and should be the first step, but it should be a determinant for the first 10% of the investment decision only. The real determinant goes far beyond this.

“Business consultants and companies…. specialize in helping startup companies (dreamers) craft their whitepaper and business plans in order to attract investors.”

Choosing the right blockchain token to invest in takes more than just skimming a whitepaper, a great promise, and a fancy website.  What you need is in the real details from the team to the existing product and the future expectations for its adoption. See the whitepaper as what it is, a means of coercion and the fancy websites as a possible means of deceit.

Let’s recall that investment by definition is the act of putting money or effort into something (a business) to make a profit after a scheduled time. Determining the worthwhileness of the investment for your hard-earned money is of extreme importance. Making investment decisions requires time. Time is very precious and time is what you might not feel you have. Time to learn and know more about a new industry. This could very well be associated with why many investors tend to make costly mistakes. They do not take their time to learn or they don’t have the interest to know more about a new industry.

“…determining the worthwhileness of the investment…. requires time…. to learn and know more about a new industry.”

Let me tell you a few things that you need to know about the Blockchain industry. Call it the summary of all important points, or a thousand pages in few lines. Blockchain is a public ledger in which peer-to-peer transactions are stored securely using cryptography in a verifiable and permanent way creating endless chains of data blocks that can’t be tampered with. It is a way to structure data, decentralized and secured with Cryptocurrency as one of its outstanding by-products.

It’s not up for debate anymore that an investment in Blockchain and Cryptocurrency can be very worthwhile, but it needs to be done right. As an investor, aren’t you tired of false promises and failure to deliver and market hypes with no real achievements? Failures always eventually lead to a dump and this we all know. The sad and bitter end of the few minutes of fame. This can all be averted if only we take a few minutes or even hours, weeks, months to learn about what we invest our hard-earned income of years into, for years to come.

Now that we have got the basics out of the way, let’s talk about a few investment options. Most importantly, let’s talk about the blockchain platform that can be powered by the sun. Let’s dialogue about the blockchain platform with a built-in Decentralized Exchange. With fully developed features such as voting, encrypted messaging, p2p marketplace, basic cloud storage and more. Let’s dialogue about Ardor and Nxt blockchain technologies.

“Let’s talk about the blockchain platform that can be powered by the sun.”

A worthwhile blockchain investment will satisfy some conditions if it were to be successful. Ardor satisfies these conditions:

  1. It will not be costly for the environment
  2. It is a working product not just a promise.
  3. The team is proven professionals and experienced blockchain engineers
  4. The tech solves the Blockchain bloat problem-it can scale globally
  5. Ardor brings the true nature of decentralization into effect by giving everyone the chance to participate and earn interest for securing the blockchain network.

These conditions are already fully developed and functional on the Ardor and Nxt blockchain. Below are some bullet points that can really be useful in getting to know more about these real investments opportunities and what makes them so different from the rest:

  • The Nxt asset exchange can be and has been used as a crowdfunding platform to kick-start projects and businesses.
  • Nxt also offers a classic ICO platform. It automatically returns the funds to the investors, if the fundraiser’s monetary goal isn’t met.
  • Nxt provides an authentication system that allows Nxt accounts holders to prove they are in control of the account.
  • Nxt offers a “Plugins” feature enabling third party software developers to add functionality to the Nxt client.
  • Nxt offers a bank statement similar function called the ‘account ledger’ enabling users to see what in-and outgoing transactions have been made from their account.
  • Some of the other tested features of Nxt includes but are not limited to: an asset exchange, a monetary system that allows you to create coins, voting, Data cloud and account control.
  • Nxt also offers a blockchain creation kit that allows you to easily launch a clone of Nxt, 10% of the Nxt clone’s tokens must be distributed to Nxt holders according to the JPL.
  • Ardor can be as reliable as Nxt, as it has the same years of experience in team and technology using PoS consensus algorithm eliminating mining competition and high energy usage.
  • Ardor invented the concept of child chains,  where transactions are removed from the blockchain and stored in the cloud once they are confirmed, hence solving the blockchain bloat problem, a major blockchain issue.
  • Ardor is developed in Java, same as Nxt, the most popular development language for commercial production.
  • Ardor’s parent-child chain architecture allows companies to build their products and services using ready-to-use and interconnected child chains relying on the security provided by the parent chain. Ignis being the first permissionless child chain, with all the features of Nxt and the Ardor platform.
  • Ardor offers lightweight contracts that don’t require the whole network to confirm all transactions for each dApp, and Jelurida is working on child chain subnets, decentralized storage, researching DAG implementations, and more.

In this new era of ICOs and new exchanges coming up, you will notice fake volumes, deceitful hypes, and pump-focused marketing plans. Sometimes it’s like a battle of who can fake it best and run away with billions in funds. A once great idea remains a great one but too often it is used for a selfish purpose in a short-term profit con. The resulting major problem is that blockchain startups are now being judged by biased analytics, fake adoptions and the high expectations of traders looking to get to the moon from the deep bottom of the planet in seconds.

We, as investors, need to judge right and ask the factual questions. Once again, look beyond the fancy websites, and perfected whitepapers, fake volumes, paper ideas and cunning promises. If you must judge, which you should as an investor, take a look at the founders, the team as a whole, the existing technology, future plans and their probability of success. Take, for example, a closer look at Jelurida’s projects. Look deep into Nxt, Ardor, and Ignis and rest assured you will not have to look any further.

This is a call to all investors, prospective and existing. A call to follow the voice of guidance through the dark path of deceit and choose wisely. Below are what others have to say about the company and their blockchain projects:

“For a property project with potentially millions of users and assets worldwide, blockchain bloat and functionality are of a primary concern to us”, says Dominium’s Managing Director, Mark Lloyd.

“Having closely followed several blockchain technologies from conception, including Ethereum, we strongly feel that Ardor is the platform with the best features for our business, especially the controlled trading of assets”, says Joost de Kruiff, a Dominium Blockchain Advisor.

“Ardor is doing some pretty important work thinking about new ways to structure blockchain infrastructure and security. If done correctly, the end result could be a solution that any business could implement without needing extensive technical expertise or ongoing maintenance”, says Bennett Garner, Coin Central.

“Nxt is an amazing and ambitious project. I’m truly excited to see Ardor in operation”, says Coinist.

“Ardor operates on a Blockchain-as-a-Service (BaaS) model, supporting many use cases out of the box and makes it easy for anyone to get into the blockchain space, while also allowing developers to build their own solutions on top of it”, says TROND VIDAR BJORØY, Head of Product development and Implementation- ATPI Nordics.

“Ardor is also a platform well suited for running ICOs — anyone is able to create a new currency and issue an ICO in a few minutes, making it a more accessible alternative to Ethereum”, says TROND VIDAR BJORØY, Head of Product development and Implementation- ATPI Nordics.

“Ardor is a major blockchain-as-a-service (BaaS) platform that helps companies to share digital currency with ease”, says Bitcoin Exchange Guide.

“Jelurida is not just another blockchain service provider. It has developed a customizable blockchain infrastructure that is ready for customer use”, says Cryptovest.

“Ardor solves the blockchain bloat issue with its prunable child chain infrastructure, which side chains do not solve”, says Fintech.finance.

“Ardor is the “WordPress of blockchain”, it was designed with simplicity, as such, offers a stress-free interface to users without the need for coding”, says Yusuf Olayode; Oracletimes.com.

 

Further reading?

Whitepaper

https://oracletimes.com/ethereum-eth-and-ardor-ardr-are-in-a-lifetime-war/
https://www.fintech.finance/01-news/ardor-blockchain-platform-launches-public-testing-forum/
https://cryptovest.com/reviews/private-blockchains—the-good-the-bad-and-all-the-misconceptions/
https://www.coinist.io/what-are-nxt-and-ardor-blockchain-platforms/
https://coincentral.com/what-is-ardor-blockchain-as-a-service-explained/
https://bitcoinexchangeguide.com/ardor/
https://venturebeat.com/2017/09/21/ardor-could-fix-key-blockchain-weaknesses-if-it-can-get-its-message-out/


The views, opinions and positions expressed within blog posts on Nxter.org are those of the author alone and do not (necessarily) represent those of Nxter. The accuracy, completeness and validity of any statements made within this article are not guaranteed. We accept no liability for any errors, omissions or representations.

Ardor API | Nxt API | Developer resources

A Review of Dominium

I suspect I wasn’t the only Nxter to be caught off guard by the articles from several weeks ago describing how a company called Dominium will build a platform on Ardor for investing in, listing, and managing real estate. Here was a project that was simultaneously extremely ambitious and quite close to launch, with the first features coming online by the end of 2018, and I had never even heard of it! So you can imagine my surprise when, a couple of days later, a member of the Dominium team reached out to me to see if I would be willing to write a review of the project for you.

After several emails, three phone calls, and a few days’ worth of research, I’m happy to share with you what I’ve learned about Dominium.

Before I begin, though, I need to make a couple of disclaimers. First, Dominium has not paid me to write this article, nor will they. I hope you will find it objective and unbiased. Second, I am absolutely not an expert in real estate investing or management, and while I have tried hard to learn about some of the problems that Dominium is attempting to address, I encourage you to do your own research and think critically about the information I’m presenting here.

With that out of the way, let’s talk about Dominium.

Dominium will be:

  1. a platform that allows companies to create real estate funds, bonds, and loan notes, with these assets represented by tokens on Ardor, in a way that complies with government regulations;
  2. a marketplace for investors to buy and sell those tokens in a compliant way;
  3. a set of tools to help fund managers, including templates for regulatory documents, a support ticket system, and marketing materials;
  4. a marketplace for users to list, purchase, and rent properties; and,
  5. a public database that records historical data related to properties, such as changes of ownership, payments by tenants, maintenance records, and the like.

The Dominium platform will have its own child chain on Ardor to enable these services. Users will pay transaction fees to Dominium using the child chain’s native token, DOM, which should not be confused with the tokens representing the securities and properties for sale on the platform.

At the risk of slightly oversimplifying, I’ll divide Dominium’s features into two main categories: those related to creating, managing, and trading real estate funds, and those related to managing individual properties.

A Platform for Investing in Real Estate

Traditional private real estate funds suffer from a few drawbacks: they are illiquid, typically requiring that investors tie up large sums of capital for years; they are often accessible only to institutional investors and high net worth ($1M+) individuals; and, while government regulations usually require fund managers to make certain disclosures about their funds and the assets they hold, these funds are not always as transparent as they could be.

Publicly traded real estate investment trusts (REITs) and similar instruments address some of these problems but also have their own complications: listing a fund on a large stock exchange is expensive and usually entails complying with a slew of extra regulatory requirements, and smaller funds that cannot benefit from economies of scale often charge correspondingly higher fees.

Dominium aims to address these problems by moving the creation, financing, management, and trading of real estate funds to the Ardor blockchain. Companies will be able to issue assets in Ardor’s Asset Exchange representing shares of their funds, and will sell them directly to investors to raise capital for purchasing properties (equity funds) or for making loans for the purchase or development of properties (debt funds). As these activities earn revenue, fund managers will be able to pay dividends to investors using Ardor’s dividend payment feature.

This approach has several advantages. Investors will be able to enter for as little as the price of a single share and will be able to exit whenever they wish. Fund managers will have access to a wide cross section of investors, including ordinary retail investors, on a single platform and without having to deal with brokers. Meanwhile the blockchain will automatically handle the logistics of tracking who owns shares of a fund and what dividend payments they are owed. It will also provide a liquid marketplace for investors to trade shares of funds peer-to-peer without fund managers having to incur the costs of listing on centralized exchanges.

This picture looks a lot like the fulfillment, at long last, of the Asset Exchange’s immense potential. And yet, if this were all there was to creating and trading funds on Dominium, the project would have failed before it even hit the mainnet.

I say this because governments heavily regulate securities of all kinds, and real estate funds launched on Dominium will certainly be no exception. Regulatory compliance is a difficult subject for many blockchain-based projects, but Dominium, using features of the Ardor platform built specifically for this purpose (more on that below), has been designed to accommodate the demands of securities laws.

First and foremost, the Dominium child chain will be a permissioned chain, meaning that accounts will not be able to transact on it without first registering on the platform. This allows Dominium to collect sufficient personal information to comply with know-your-customer (KYC) and anti-money laundering (AML) laws. Any user who wishes to be able to trade shares of real estate funds, for example, must provide his or her name, email address, phone number, and date of birth, plus a picture of a government-issued photo ID, a picture of the user holding the ID, a proof of the user’s current address, and a proof of the user’s tax ID number. On Dominium they classify this as Clearance Level 2 (see below for more details about clearance levels).

The purpose of collecting this information is to firmly tie each user’s real-world identity to an account authorized to transact on the Dominium child chain (though, of course, this information will not be made publicly visible on the blockchain). Fund creators thereby know exactly who is purchasing their shares, and they can demonstrate to regulators that they have taken proper precautions to prevent money laundering and the financing of crime.

Importantly, compliance with KYC and AML regulations necessitates a degree of centralization. Not only must the identities of all participants be verifiable—a problem which is quite difficult to solve in a decentralized way—but it must be possible to forbid certain users from accessing the platform, and it must be possible to revoke other users’ access if they are later determined to be involved in criminal activity. Perhaps it will one day be possible to satisfy these criteria in a decentralized way, but for now, they require a central authority who verifies users’ identities and determines who is eligible to participate.

You might be wondering, then, why Dominium is interested in using a blockchain in the first place. Many blockchain enthusiasts, myself included, tend to take a hard line on decentralization, and compromising even a little bit on this criterion in order to achieve some other goal (e.g., scaling) immediately raises our suspicions that a centralized database might be a better tool for the job. More on this question below, but for now, suffice it to say that regulatory compliance is a real issue, that Dominium is taking it seriously, and that the result will necessarily include at least some elements of centralization. This is reality, and blockchain diehards will need to accept it or else renounce our ambitions to create new financial instruments.

One other aspect of Dominium’s approach to regulatory compliance that is worth mentioning is the company’s plans for creating standardized templates for certain legal documents. Specific requirements vary by jurisdiction, but generally fund creators must produce at least a prospectus, which often contains a rather small amount of important, fund-specific information interspersed with a generous helping of legal boilerplate. Dominium will hire a law firm in each jurisdiction where funds can be created to prepare standard templates for the prospectus and other legal documents that fund creators can use to comply with local securities laws. This is one of the primary ways that Dominium aims to streamline the fund creation process and to keep fees low.

A Platform for Managing Individual Properties

Quite apart from activities related to creating and trading real estate funds, the other focus of the Dominium platform is on listing, purchasing, renting, and managing individual properties. Owners, managers, tenants, maintenance workers, real estate agents, and other parties will be able to record information about properties on the blockchain, creating an immutable historical record that could be useful in a number of different contexts.

To make this idea more concrete, consider a few examples. Tenants and managers could record rent payments and receipt of those payments. A tenant might open a maintenance ticket with the manager (Dominium will include a support ticket system), who might hire a contractor to make a repair, and all parties might acknowledge that the work was done satisfactorily. The owner or manager might record receipts of tax and insurance payments. Prospective buyers might register their bids for a property that is listed for sale. And so on.

Want to see whether tenants pay rent on time before buying a rental property? Check the blockchain. Want to know whether the current owner actually paid for a new roof last year? Check the blockchain. Want to know whether there really are three other buyers who have entered bids on this property, and what those bids are, without having to take your realtor’s word for it? Check the blockchain. You get the idea.

In the near term, of course, government registries will still maintain the legally significant records of ownership of properties. To sell a property on Dominium would therefore require two separate interactions between buyer and seller: a transaction recording the sale on the blockchain and a traditional transfer of the title as recorded in a land registry. But looking ahead a few decades, it is exciting to speculate about whether governments might begin to acknowledge tokenized titles to real-world assets as authoritative records of ownership. And meanwhile, a great deal can still be recorded on a blockchain, including the information described above that can make real estate dealings more transparent.

Why Use a Blockchain?

But surely some of these benefits can be achieved with a fully centralized database as well. And as I mentioned earlier, the platform is already partially centralized in order to comply with KYC and AML laws. So why use a blockchain at all?

One way to answer this question is to consider what the platform would look like as a fully centralized service. Dominium would effectively be a broker for the real estate funds that companies create on the platform, and would have to establish its own exchange for investors to trade those funds. It would also have to take deposits from investors and secure those deposits without making withdrawals too inconvenient. And of course, it would have to accept the massive legal liability of operating these services and comply with a host of additional regulations placed on brokers and exchanges.

Needless to say, Dominium has no interest in being a brokerage or an exchange, and I’m sure they will be quite happy to avoid that kind of liability. Instead, peer-to-peer transactions in Ardor’s decentralized Asset Exchange will perhaps more closely resemble over-the-counter trading, except with greater transparency and potentially greater liquidity.

Moreover, while Dominium will necessarily have the ability to restrict access to the platform to meet KYC and AML requirements, this process will be more transparent than in a fully centralized service. In particular, if Dominium were to revoke a user’s permission to use the blockchain, there would at least be indisputable proof of this action in the transaction history, which is, after all, public record.

It seems to me that investors, for their part, also benefit from this structure. Rather than having to trust a brand new brokerage—which might be legitimate or which might be a boiler room operation, for all they know—investors will be able to see for themselves important details about all the funds available for purchase and to verify from the blockchain that they are indeed getting genuine shares. As each account’s holdings are recorded on a public ledger, investors will also have access to information they don’t typically get with funds traded on centralized exchanges, including the distribution of shares across accounts and the other holdings and transaction histories of those accounts.

But will the funds themselves be more efficient by virtue of launching and trading on a blockchain? This is a far more complex question than I can competently answer with my very limited knowledge of investing, but I can at least speculate about potential cost savings and you can tell me where I’ve gone wrong in the comments section. 🙂

One task that all investment funds must face is keeping track of who holds their shares, not just for regulatory compliance but also to know who to pay dividends to and in what amounts. I imagine this can be a costly process for smaller funds with a large number of shareholders, but the blockchain (and Ardor in particular) makes this kind of bookkeeping trivial. Also, as I mentioned before, listing a fund on a centralized exchange is an expensive undertaking, whereas a blockchain-based decentralized exchange could still provide liquidity while saving this expense.

As for listing, purchasing, renting, and managing individual properties on Dominium, in my view the case for using a blockchain seems to rest almost entirely on how much management information users commit to the blockchain. There are already plenty of centralized real estate listing websites, and they seem to work rather well as marketplaces for connecting buyers and sellers. In contrast, the notion of storing historical information about a property in a decentralized way sounds like something new.

But does such a service really need to be decentralized? Couldn’t somebody build a “Carfax for real estate” without all of the limitations of using a blockchain? I think the answer is probably yes, but I can still see an advantage to the decentralized version, namely that no one entity will be able to selectively modify or delete historical data.

While that might sound a little paranoid, I do think there’s some precedent for concern. Look at the allegations of extortion that businesses have made against Yelp, for example. They claim that Yelp selectively filters out positive reviews of their businesses, leaving a disproportionate number of negative ones, unless businesses pay a hefty advertising fee, which makes the negative reviews disappear. Regardless of whether this is technically extortion (it appears that it isn’t, by the way) and whether Yelp is actually guilty (which they deny), it at least seems plausible that a centralized ratings service could pressure users this way. A decentralized alternative, in contrast—and especially one that establishes users’ real-world identities before allowing them to contribute information, as Dominium does—might provide a safeguard against this kind of abuse.

Finally—and this is perhaps the most exciting possibility, in my opinion—if Dominium’s users eventually record ownership and management information for enough individual properties that those properties make up a substantial fraction of the holdings of the funds listed on Dominium, then investors will have an unprecedented (as far as I know) degree of transparency about the quality of the properties those funds own.

Why Use Ardor?

I suppose the folks at Dominium could have chosen Ethereum over Ardor, but then they would have had to build a number of features themselves, including most notably a permissions layer for all transaction types and a mechanism to restrict trading of certain funds to specific subsets of accounts. On Ardor, these features are built in: permissioned child chains, coming Q3 of this year, will automatically restrict access to authorized accounts, while the Asset Control and Vote by Account Property features enable a finer degree of control over which accounts will be able to exchange certain tokens.

This latter point is especially important for Dominium, which will grant different permissions to users based on how much personal information they provide, where they live, and whether they qualify to invest in unregulated funds. Specifically, Clearance Level 1 users will provide basic identity information and will be able to buy and sell DOM utility tokens and list, purchase, or rent properties; Clearance Level 2 users will provide full KYC information and will be eligible to purchase shares of regulated real estate funds from jurisdictions where they can lawfully invest; and Clearance Level 3 users will attest that they are qualified investors (generally either high net worth individuals or professional investors) and will be eligible to invest in both regulated and unregulated funds.

Implementing these tiers is straightforward on Ardor: Clearance Level 1 is established by authorizing an account to transact on the permissioned Dominium chain, while Clearance Levels 2 and 3 are enforced using asset controls to restrict the trading of regulated and unregulated funds, respectively, to accounts that Dominium has marked as eligible. Further constraints on investors’ eligibility to purchase funds in specific countries, for example, translate rather cleanly to additional account properties establishing the countries an investor is allowed to invest in and additional asset controls to enforce those policies.

On a different note, keep in mind that Dominium’s child chain will be permissioned in the sense that only authorized accounts will be able to transact on it, but it will be public in the sense that anybody will be able to examine and verify the transaction history. This hybrid design combining permissioned transactions with public validation is more controlled than a fully public blockchain, where KYC and AML compliance would be much more difficult, and more transparent than a fully permissioned blockchain. As far as I know, this combination of traits is unique to Ardor.

Beyond issues related to permissioned access and regulatory compliance, other reasons that Dominium chose Ardor include its novel approach to combating blockchain bloat, its wide array of built-in features, and the stability and resilience of its codebase, most of which has been in production since 2013 as part of Nxt. Since I’ve written at length about these aspects of Ardor elsewhere, I won’t repeat myself here.

I would like to point out, though, that Ardor’s built-in features make it much easier to deploy a platform like Dominium securely than would be the case on a smart contract platform like Ethereum. The functionality that Dominium requires is not trivial, and coding it from scratch as a set of custom smart contracts, some of which could be fairly complex, would incur the risk that one of those contracts contains a subtle flaw that could be exploited to cause catastrophic failure. With Ardor, in contrast, predefined building blocks for on-blockchain tasks have been thoroughly peer-reviewed and battle-tested, while all custom code runs off-blockchain, where it is easier to patch as flaws are discovered.

A Word About the ITO

One additional aspect of the Dominium platform that differentiates it from other blockchain projects is its plans for its initial token offering (ITO). Dominium will invest most (>80%) of the money it raises from its ITO in real estate, and it will use the dividends from these investments primarily to fund the development of the platform. In addition, though, it will use a portion of these returns to buy back DOM tokens and burn them, thereby decreasing the total supply of DOM. As people use the platform Dominium will also collect transaction fees denominated in DOM tokens, and again it will burn them to make DOM more scarce.

In my humble opinion, Dominium’s decision to invest the proceeds from its ITO in stable, real-world assets instead of leaving those funds in hyper-volatile cryptocurrencies shows that the Dominium team is serious about the long-term development of this project. It is a refreshing change and surely lends credibility to the team.

On the other hand, I don’t think the ITO will be completely without controversy. Dominium’s legal team insists that DOM is a utility token and not a security. As it will be the sole currency for paying fees for all business conducted on the platform, there can be no doubt that DOM is a utility token. But I suspect that regulators might decide that it could also be a security, owing to Dominium’s plan to buy back tokens using the earnings of its real estate holdings. In the U.S., anyway, an investment contract is defined as “an investment of money in a common enterprise with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others,” and all investment contracts are securities. It is at least a legal gray area, and perhaps it will take some time for governments to clarify how tokens like DOM are to be understood.

Then again, if regulators do indeed decide that DOM qualifies as a security, Dominium will be in an excellent position compared to other ITOs as a result of the KYC controls it has implemented. To participate in the ITO, users will need to register at Clearance Level 1, so Dominium will already have satisfied some of the KYC requirements. I don’t think that a ruling that their ITO token is a security would pose the same kind of existential threat to Dominium that it would pose to the vast majority of other ITOs.

Closing Thoughts

There is much more to say about Dominium, but this article is getting quite long, and I have already trod well past the limits of my knowledge of real estate investing and securities law, so I will conclude here.

Reflecting on the structure and features of the Dominium platform, and especially on the measures that Dominium has taken to comply with government regulations, I’ve changed my opinion on permissioned blockchains with a centralized authentication service. As I wrote elsewhere, I had previously been quite skeptical of blockchains controlled in some significant way by a single entity. A private database, in my estimation, was almost always a better solution.

Dominium has shown me that I was wrong. It is possible for the power to control access to a blockchain to be quite centralized, but for other aspects of the business conducted on the blockchain to be decentralized in a meaningful way. Government regulations, legal liabilities, and other real-world concerns add to the analysis some nuances that I had failed to appreciate until I started researching Dominium. I’m glad I did so.

On that note, I’d like to sincerely thank the folks at Dominium who have taken time out of their busy schedules to answer my sometimes naive questions about real estate investing, property management, and other aspects of their platform. I truly wish them the best of luck with their launch, and I’m very excited to see what the future holds!

What Good is Ignis, Anyway?

Recently there have been several posts on the Nxt and Ardor subreddits asking about Ignis: Why did Jelurida create it? What problems does it solve? Why would people want to use it?

I suspect that for a lot of longtime members of the Nxt community, the answers to these questions are self-evident. For newcomers, though, it’s a fun and helpful exercise to brainstorm interesting applications of the Nxt/Ardor tech. In that spirit, I replied to one of those posts with a few thoughts about what you can do with Ignis. I figured Nxter readers might be interested to hear them, too, so I’m posting them here for you to consider.

So what’s special about Ignis? In a nutshell, Ignis is the only child chain on the Ardor platform that is guaranteed to be permissionless and to support all available features. It will have basically all of the features that Nxt currently has, plus a few new ones (see apenzl’s excellent write-up for a survey of the new functionality). If you’re new to Nxt and Ardor and haven’t spent some time with the full client yet, I’d strongly recommend you do so. It’s quite impressive just how much you can do with the built-in features.

IGNIS

Without further ado, here are a few examples of ways you might use Ignis, most of which apply to Nxt, too.

Co-Ownership of Property

Suppose you and some friends own a rental property. You can create an asset on Ignis to represent shares of the property and distribute the shares among the co-owners. As the property earns money, you can pay dividends to the owners in proportion to the amount of the asset that they hold (this is a built-in feature). They can freely buy or sell their shares in it (another built-in feature), making it easy for them to take on as much or as little risk as they are comfortable with. If you need to make a collective decision, like whether to remodel it, you can conduct a poll of your asset holders (another built-in feature) where their votes are weighted by their share of the asset, or where each person gets an equal vote, your choice.

Decentralized Crowdfunding

Suppose you want to conduct a Kickstarter-like crowdfunding campaign, where your supporters don’t have to pay unless you meet your fundraising goal. The Monetary System on Ignis supports exactly this application, among many others. You can issue your own “currency” (token) to represent a receipt of payment from your backers, set a deadline for the fundraiser, and make the transfer of funds conditional on raising at least some minimum amount of money. All of this is built-in functionality. As your project progresses, you can send your supporters messages using the Messaging System with updates on important milestones. Finally, when your project turns out to be wildly successful, you can pay bonuses to your early backers proportional to their share of your tokens.

Retail

Suppose you own a video game store and Nintendo announces that they’re selling a Nintendo64 Classic. You know that you’ll only receive a limited quantity. To save your customers the hassle of lining up outside your store at 5 am to try to get their hands on one, you decide to offer them an opportunity to buy vouchers ahead of time, which they can exchange at their convenience for the game system. You’re worried that scalpers will buy up all of your vouchers at MSRP and resell them for a huge markup, though.

You decide to issue your voucher through the Ignis Monetary System as a controllable currency. This means that you can sell it at a fixed price and buyers can’t resell it later to anybody but you. When the account holder later visits your store, you buy back the voucher for next-to-nothing and give him or her a Nintendo64 Classic in return.

Fintech

Suppose you want to start a hedge fund like Numerai. You want to issue a token that can only be held or traded by data scientists, whose models you want to collect and evaluate.

You first solicit applications from data scientists through your website and decide whether they’re worthy to participate. The candidates you’d like to enroll send you their Ardor addresses, and you use your account to mark their accounts with a special property indicating that they are eligible to participate. Next, you issue an asset on Ignis using the new Asset Control and Vote by Account Property features, and specify that your asset can only be traded by accounts with the property you used to designate eligibility. You then make payments of your asset to each account proportional to how well the account holder’s models perform, and you pay dividends to all asset holders in proportion to their holdings. The result is that people who submit the best models get the biggest shares of your dividends.

Perhaps you charge your users a fixed quantity of your asset for each model they submit, both to ensure they have some skin in the game and to help redistribute the asset away from the users who submit the worst models. Since Ignis supports sending short messages along with payments, a user could annotate such a payment with an ID number that corresponds to the submitted model, allowing you to easily track which models’ submission fees have been paid.

Venture Capital

Suppose you want to start a crowdfunded venture capital firm. You want to sell shares of your firm to raise money, allow shareholders to vote on which projects to invest in, and pay them dividends in proportion to their holdings. You like the idea of making the investment decision somewhat decentralized, but you’re nervous about using a strict decision-by-majority investment model. As a hedge, you’d like to allow a supermajority of your board members to veto investment decisions made by your investors.

You can issue an asset on Ignis representing shares of your company, then make payments to the companies you invest in using composite phased transactions, another new feature. You can set the phasing conditions to say that each payment succeeds if at least a majority of your asset holders approve of it and less than eight out of your ten board members try to veto it. If these conditions are met, the company gets funded. Otherwise, the transaction does not occur. And how do you elect your board members? Why, the built-in voting system, of course.

Conclusion

These examples barely scratch the surface, but hopefully, they give you an idea of the kinds of things Nxt and Ignis can do.

Note that you can do any of these things using just the standard Ardor wallet. If you’re a programmer, though, and you want to make things a little easier on the people you’re interacting with, you can write an app with a custom interface that interacts with Ignis only on the backend. Your users don’t even necessarily need to know that they’re transacting on a blockchain.

Along those lines, I’d suggest that most of the things you would want to do on Ethereum can also be done on Ignis. As I’ve argued before, writing secure smart contracts on Ethereum generally requires either keeping them very simple or introducing some trust between users and developers. In the former case, Ignis’s smart transactions often substitute directly for smart contracts, and in the latter case, you might as well move most of your code off-chain and only use the blockchain for the parts that really need to be trustless. Either way, I don’t think the extra flexibility that smart contracts offer is quite as big an advantage as it appears to be at first blush.

So if you find yourself wondering what value there is in Ignis, first ask yourself what value there is in Ethereum. For each example application you come up with, try to convince yourself that you absolutely could not use Ignis to accomplish the same goal with a similar degree of decentralization. If you share my concerns about the security of complex smart contracts that are truly immutable, you might be surprised at how similar the potential applications of both platforms are.

Finally, it’s worth mentioning that there might be significant non-technical challenges to a couple of the examples I’ve given. In particular, the U.S. Securities Exchange Commission ruled several months ago that some tokens traded on blockchains can be considered securities, especially in cases where investors have “a reasonable expectation of profits derived from the managerial efforts of others.” In such cases, issuers of those tokens must register with the SEC in order to do business in the U.S. I suspect that this is not as big a deal as a lot of blockchain enthusiasts make it out to be, but that’s probably the subject of a different article. 🙂

In any event, I hope these examples help put into concrete terms just how much functionality Ignis offers. If you can think of other (better?) examples for how to use Ignis, please add them in the comments section! And as always, I’d greatly appreciate constructive criticism.

IGNIS Airdrop

The holiday season is upon us and soon free IGNIS tokens will rain down into your Nxt accounts! 500M IGNIS tokens will be airdropped on NXT coin holders at the New Year!

What is Going On?

On Dec 28, 2017: a snapshot of the Nxt blockchain will occur:

Jelurida takes a snapshot of all NXT accounts with everything in them, including the NXT you hold, your registered aliases, account properties, your NxtAE (asset exchange) portfolio, Marketplace items, Monetary System coins, etc. The state of the blockchain. Your NXT balance @ the snapshot block determines how much IGNIS you will get: 1 IGNIS per 2 NXT.

With the snapshot block, some coins and trading markets will be temporarily frozen.

These tokens will, temporarily, become untradeable: ARDR (the Nxt asset which represents ARDR tokens on the Ardor blockchain platform), JLRDA (which represents the IGNIS tokens sold during the ICO), Janus (which will be re-issued on IGNIS/Ardor), and also BITSWIFT, which will be reborn as an Ardor child chain, along with Ignis, with the Ardor Genesis block.

The Ardor platform and its first child chains will launch on 1/1-2018 0:00 ETC.

From that moment, when the Genesis Block is forged, the markets for the beforementioned tokens are open again. For every 1 NXT you have in your Nxt account on Dec 28, at the time of the snapshot, you will find an additional 0.5 IGNIS, on the Ardor blockchain. You can already log in to the Ardor testnet with you current Nxt account ID and see how it works. Also, 10% of the BITSWIFT child chain tokens will be distributed to IGNIS holders. Not because of the JPL license, but because Bitswift has decided to reward the Nxt and Ignis community, with an extra Xmas gift to holders!

NXT and IGNIS

IGNIS is the transactional token of the unrestricted open to all blockchain 2.0 Ignis child chain, spawned from Ardor, the scalable disruptive platform that Jean-Luc, Nxt lead developer since 2013, and Jelurida, have created.

Those that listened know that the Nxt platform will not become obsolete but will be taken care of, as a perfect showcase for Jelurida and a still relevant featureful public blockchain, under the JPL license. The JPL (Jelurida Public License) aims to protect investors in the NXT token, while at the same time keeping the core code open source. According to the JPL, any clone of Nxt must distribute 10% of the newly issued tokens among NXT holders, proportionally according to their stake in NXT.

Jean-Luc explained:

[With JPL], unlike the GPL, in addition to the copyright owner (Jelurida) any token holder can initiate a claim, because he has incurred a loss. It will also be much more straightforward to demonstrate the total monetary value of such losses, as 10% of the marketcap of the infringing clone.

IGNIS inherits all the features of NXT. Plus more. Much more.

Ignis is spawned from Ardor. The Ardor server software can run on a mobile phone, a Raspberry Pi or a VPS, and anyone with ARDR can earn fees from forging ChildBlocks (blocks of bundled transactions made on Ignis and other Ardor child chains). Forging is Nxt and Ardor PoS’s equivalent to PoW “mining” and secures the full Ardor network.

Other ways to support and monetize the network is (currently) Bundling or running Archival Nodes.

Child chain transactions are not forged on the child chain but are bundled and sent in blocks to the Ardor parent chain, which forges, files, and secures them. Anyone can become a Bundler, and bundle child chain transactions. It takes ARDR to be a Bundler, because the Bundler must transfer ChildBlocks (those consisting of bundled child chain transactions) to the Ardor parent chain. Ardor only accepts ARDR. Bundlers are paid in child chain tokens for their service. They set their own fee.

Archival Nodes expand the default network when it comes to storing data on the blockchain. Messages sent between accounts as well as other kinds of encrypted or public data uploaded to the network are “pruned” from child chains. Only hashes are stored, which makes the child chains scalable – unnecessary bloat is removed at regular intervals. Archival Nodes, on the other hand, store pieces of data, so they can be dug up and used. Thus, Archival Nodes provide a distributed data storage network to Ardor’s blockchain ecosystem – which, of course, also can be monetized. This is already built into the platform. The first archival node service provider will be Jelurida, but competition is welcomed.

Smart Blockchain

IGNIS lives on and communicates with this full network. It’s part of a scalable platform; Ardor, the advanced EXISTING BaaS platform, which allows transactions to be sent across the full network of child chains, globally. For example, an asset that is issued on Ignis will become instantly tradeable on all child chains that support the AE. Be they business token child chains or simple gateway child chains with tokens pegged to other cryptocurrencies or a bank/government-backed fiat coin, like DKK, EUR, USD, YAN, which you can deposit/withdraw directly to your bank account. On top of this, Asset tokens can be issued with their own unique rules set and specified- like, if they can be traded by all, or only by selected accounts, pre-approved by the issuer of the asset, or tagged in the blockchain as KYC/AML/CTF compliant accounts. Also, Ignis currency tokens (MS-coins) can be traded between child chains. Whatever you do, you can scale it. Whatever you do, it is in your control, finally.

I think that the Nxter Magazine should soon begin talking about use cases. Or about building commercial applications on the public blockchain. Maybe we could even run a contest! Describe a use case that solves a problem for you, and win!

It could be a lot of fun. Those that win the contest by vote, could get an advisory board, some initial funding, marketing and possibly a partnership arrangement with core Nxters. Nxt, IGNIS, and Ardor are supposed to solve real problems, you know, and the tech is capable of it. As IGNIS and ARDR appreciate in value, and with our sponsorship with Jelurida we *could* make this happen. Follow, learn about Nxt and Ardor, sign up for the news. Maybe we will make such a contest. Until then, feel free to post ideas for use cases in the comment field. Here’s why:

Use Cases

One of the most important aspects of Ignis is what it offers to the developer; e.g. businesses, local societies and even to national governments. All the advanced basics of connecting your use case to the blockchain are covered. Tested, reviewed and approved in the wild, Ignis (and the NXT and Ardor platforms) offers working executable secure inbuilt smart contracts, that developers can combine into the use cases he/she/the customer wants, as easy as with Lego bricks, with the API.

Right off the bat, Ardor is a well-prepared infrastructure of an entire economic system, with all its twists and turns, an infrastructure built on the blockchain, which is ready to go global on January 1st.

New GUI’s, apps and Dapps (decentralized apps) are expected to emerge:

Bitswift:

The child chain infrastructure seemed to solve all of the problems we were looking at, blockchain bloat, reducing fees, fast confirmations, everything we want it comes with to start building on.

Our rewards network is built on top of this blockchain technology which ensures stability, reliability and transparency, while maintaining exceptional performance.  

Dan Charbonneau, CEO of CBT Nuggets:

[Our] learners will buy training content with crypto and consume the content. We’re developing a cryptocurrency to be deployed as an ARDR child chain that will provide a financial incentive to learning. There are quizzes throughout the content so you can prove you learned the material. When you answer the quizzes correctly, 30% of your purchase price is returned to you. In addition, everything you learn is stored in the blockchain so we will maintain a lifelong record of learning for you.

When you interview for a job, you’ll be able to show the interviewer everything you’ve learned. The transcript will of course be private only for you and shared with the people you choose. The value of our cryptocurrency will be pegged to ARDR on a 1-to-1 basis. The initial launch will be with 50M of the new cryptocurrency paid for with 50M ARDR. The currency will be redeemable on a 1-to-1 basis for ARDR so it has value out of the gate.

I’m hoping this changes education worldwide, providing greater access to quality content and adding competition and the principles of the free market economy to education at all levels.

Alex Pfeiffer, University of Danube – Center for Applied Game Studies:

As we talk on a daily basis with Jelurida (…) at the moment I am 100% sure about doing the following “proof of concepts”. I can speak about my plans but I don’t like to reveal any partners before the ink is dry ;).

Doing my research for several months I switched all my developing plans first from Ethereum to Ethereum Classic and finally decided to fully go on Nxt and later Ardor for my plans regarding setting up new ecosystems.

I also decided to work with Ardor and Nxt for a very simple personal reason. I am economist, social scientist, game designer and conceptional developer. I am not! a “real” technican. Working with Ardor gives me the chance to understand most of the stuff the tech people are doing with it and it enables me to chance things and not crashing the system.

Adel:

Adel is built on the Nxt platform which has numerous features that will be extended to the Adel ecosystem. [Adel] will move to the Ardor platform, once it is deemed suitable. With this foundation of advanced blockchain features, the Adel ecosystem can focus on project development, best-in-class business practices, and an efficient and self-sustaining community. Adel will continue to capitalize on the features of Nxt and Ardor as both evolve.

So, What Is Next?

The “Bitcoin-thing: transferring money, is one use case of the blockchain; but Ignis and Ardor bring ALL the Blockchain 2.0 ideas to life. Ideas like running secure proven smart contracts on a scalable decentralized blockchain infrastructure, not with the old energy-wasting PoW algorithm but an energy efficient and green 100% PoS algorithm.

You can build decentralized applications with little coding experience on Ignis. Run your own business on Ignis, even create a DAO. Or with Ardor you can get your own child chain, it’s scalable, connected to the network. The impact and transformative nature of the changes to businesses and governments that the Ardor / Nxt / Ignis blockchains bring are unimaginable.

To old Nxters, this is not news. But it must be said: on January 1st, 2018, Ignis, Bitswift and Ardor will launch. Almost everything envisioned by the great, early Bitcoin (and Ethereum) blockchain visionaries will be doable and live with Ignis and Ardor. One can only hope that the launch on Jan 1st will spark a disruptive network effect. And oh yes, you can be part of it! Begin by sharing this article.

Learn about the utilities of Nxt and Ardor, and apply it to your own life and see which problems you can solve with it. Share it with us.

Exchanges

We have all seen the price of NXT and ARDR increase. I see it talked about a lot in forums, slacks, and on social media, and I spend a lot of time giving answers to folks who want to know if they will get IGNIS, ARDR and BITSWIFT if they hold their NXT on either this or that centralized exchange. Short answer: Why would you?

I have used NXT for a long time. Now Ignis and Ardor are coming. I know, for a fact, that in a not so distant future I will never have to use a centralized exchange ever again. If YOU don’t know that, you don’t know what you’re investing in. You invest in disruptive tech. Not like Jelurida is against the established system, with its taxes and governments, they will work with them all. Yet, their tech is public. Anyone can use it out of the box or build applications on top of it, change things.

Maybe NXT and ARDR exchanges like Bittrex will support the snapshot. Maybe Poloniex will, and AEX, Bitcoin Indonesia, HitBTC, Litebit, all of them – and maybe they won’t! None of these exchanges have made an official announcement about the IGNIS airdrop yet, the date is closing in, but what they all want is to get paid. By Jelurida.

UPDATE: These exchanges have announced support of the airdrop

So you ask me: Will the airdrop be supported by this or that exchange?

No one knows yet. IMHO, centralized exchanges act like they are banks, nowadays. They will list IGNIS, as well as NXT and ARDR, of course, they will, they earn millions in trading fees, but that’s not enough. Profit maximizing middlemen, some of them are, and they do not even provide an indispensable service. We do not really need them. Nxt and Ardor have inbuilt unhackable decentralized exchanges. So, to make sure you get your IGNIS and Bitswift tokens for holding NXT, and your Ardor tokens for holding ARDR, I strongly recommend you to simply claim your own private account on the network.

Create it offline, with a web client, or locally, by downloading and running the NRS client from Jelurida. The web client is the fastest and easiest, requiring only a minute or two of simple setup. Be sure to keep your passphrase safe!

Personally, I care about supporting blockchain technologies that I know will accomplish great things. I do not buy and trade shitcoins. And I do not know how many day traders, dolphins, whales, and bots manipulate the price of each coin, including NXT. That’s not my thing.

Buying cryptocurrencies seem like a (risky) get-rich scheme to a lot of people today. Even “average Joes” seem to think they know the market and that it’s probably a good time to enter. But a lot get burned. There’s no cancellation of transactions. Do your due diligence. Make your own decisions. And never invest more than you can afford to lose.

 

nxter.org/assethub

 

ARDOR Implements Game-Changing Features In New TESTNET RELEASE

Do you remember, back in the day, the first time you got your mind blown? I remember fondly how that happened to me with Nxt. That blockchain bastard repeatedly blew my mind – sometimes several times a week as it implemented feature upon feature at such a frantic pace. As such, I became a part of the embracing high-level community of Nxters and eventually surmounted the steep learning curve. It was totally worth it but afterward, I became hard to impress.

Released today, a brand new Ardor testnet finally made my brain cells feel a tiny bit explosive again, and it feels great! Not just a tiny bit, actually. The client that lands today is blockchain 2.0 evolution at its finest. Let the popular experts, and all the great blockchain visionaries do their talks. Jelurida just wrote it in code. Again. Let others continue to talk about TPS, ignoring scalability and security, we covered it already. And if you don’t know about Nxt, you should read up.

Ardor 2.0.4e

The Nxt and Ardor core dev team at Jelurida presents to you: New asset control features, multiphased smart transactions, a new API for creating regulated tokens on the decentralized Asset Exchange, and a transaction type that allows asset issuers to increase the number of asset shares in existence. All of this is an addition to all the existing core features and API.

This new Ardor testnet release resets the existing testnet and publishes a new Genesis block that tests the transition of data from Nxt to Ardor, based on a snapshot made of Nxt’s mainnet at block 1558000, shortly after the last JLRDA (IGNIS) exchange offer expired.

The testnet Genesis block timestamp has been set to 00:00 (midnight) UTC time
on Monday, Nov 6th, in order to allow time for users to setup nodes check their balances, and start forging.

From the Nxt blockchain has been transferred the following:

  • Accounts (public keys)
  • Account balances
    • IGNIS balances are based on NXT balances, divided by 2, plus JLRDA asset balances. Each of those has been additionally divided by 2, in order to allocate 50% of the testnet coins to developer accounts for testing purposes. There has been a 10% BITSWIFT asset sharedrop distributed proportionately to all IGNIS shareholders.
  • Account info (name and description)
  • Account properties
  • Account control settings for account control by whitelist with no minimum balance.
  • Account aliases transferred to the IGNIS child chain.
  • Janus, JanusXT, and ComJNSXT assets have been imported.
  • Monetary system currencies have been imported to the IGNIS child chain.
    • Only currency code and name. It will be up to each currency issuer to re-issue the currency with the appropriate properties and re-distribute it to users.

Lior Yaffe kindly asks all of us to check our accounts on Ardor and make sure everything has happened correctly:

If you are only interested in checking your balances head to the Jelurida public node , login using your existing NXT Mainnet account id (no need to login using passphrase) and check your ARDR, IGNIS and BitSwift balances. In addition, check your Janus asset balances, aliases, account properties, currencies, account control and all other entities migrated from the NXT Mainnet according to the changelog.

When you check, be aware that your IGNIS and ARDR holdings have been divided by 2 in this testnet release, so 50% of the tokens can be allocated to dev accounts for testing purposes.

Read all details here.

This was to be expected. Massive work, yes, all as promised and fair for a call to shift from one platform to the N(e)XT, Ardor. Pun intended. There are API changes too, and new API, coders please (you must!) check the change-log.

What made my brain cells begin to feel explosive again then?

New features

Yes, the new features. Nxters run. Run out there and share it with the world!

The change-log for Ardor 2.0.4e presents the following new transaction types – add to them all that the Nxt blockchain’s smart transactions and Ardor’s globally scalable, energy efficient child chain platform design can do, and you will see clearly the size of this gamechanger. This is what the release implements:

Asset control

Allows an asset issuer to control her assets. That’s right. As the issuer you decide who can buy and sell them; a small group of selected people, only KYC verified accounts, perhaps. Or you could send non-transferrable assets to a board of holders and give them voting rights over the asset. How about that. Read it again and let it sink in – with this release you, the issuer, will get complete asset control.

No, it’s not the end of a free market. Ignis is free. It is a new opening that allows all new as well as old running businesses to shift their old backend to Ardor and Ignis and receive all the benefits of the blockchain as a business backend, consumer front-end, and even get it cheaply.

Example:

  • Have an ICO/crowdfunding on Ignis
    Upload contracts and legal documents to the data cloud, time-stamped, hashed, let the KYC compliant accounts of your business partners or angels digitally sign the agreements, this will be documented on the blockchain as well.
  • Issue your asset tokens
  • Decide which rights you want to give to your asset holders, and to your market.
  • Distribute assets, each with the rights attached that you assigned to them. Watch them be traded.

Selected (or all) asset holders can have voting rights. You can pay dividends in any token on the platform; IGNIS, another child chain coin, an € pegged coin, that can be withdrawn with your VISA/Mastercard or just sit in your bank account. Or in other assets, representing bonus points, tickets, whatever fits your business plan. You could even create games with this. It is here.

We welcome this Java code, the Asset Control feature, as one of the best newest addition to the already existing API.

Composite Phasing

Introduces AND, OR, and NOT to Nxt’s Phased Transactions. This, combined with the new Asset Control feature, adds whitelist control over asset holder accounts, you can choose, for example, which asset holders should have the opportunity to vote or even control an account by vote. Even control the whitelist of new accounts. Do you see the better DAO coming?

It also allows for example combining the existing by hash or by transaction approval models with by whitelist, by balance, etc, approvals, which enables doing atomic coupling of transactions (including cross-blockchain) even for multisignature accounts, or with assets subject to Asset Control.

I couldn’t say it better.

The NOT operator allows for dead-man-switch type conditions, where a transaction is executed only if some condition (e.g. revealing a secret) is NOT satisfied.

Source

Asset share increase

With this new smart transaction type, asset issuers can increase the number of assets in existence. Print new money?!!

The new shares are allocated to the asset issuer account, but can then be distributed to shareholders using a separate dividend payment transaction. This allows corporate actions such as capital increases or stock splits to be performed.

Be careful, like we all learned in Economics 101, increasing the supply of money will decrease the value. Take care not to dilute your asset into nothingness.

By-Property phasing

First, if you don’t know Nxt’s feature “Account Properties”, I should fill you in: Account Properties is a Nxt feature that adds the ability to permanently ‘tag’ any account on the blockchain with a small amount of data, like meta-information. Tags can also be deleted by the tagger.

Let’s see what By-Property phasing is:

 

The new by-property approval model allows the transaction execution to be made conditional on the sender account or the recipient account having a specific account property set. If this property is set, the transaction will be executed immediately, else, a second check whether the property is set is performed at the finish height defined. This allows, for example, enforcing KYC by asset issuers, who can define in their Asset Control settings that only KYC-verified accounts, labelled with a predefined account property by a trusted authority (or the asset issuer itself), to perform transactions with their assets.

So with this feature, the blockchain market is regulated.

With this, you can, for example, in the near future, issue an asset on any Ardor child chain, trade it on any child chain, but enforce/be enforced to only let KYC approved accounts trade it on the market. Or choose by country. Or any group. With Ignis, asset issuers and traders can choose whether or not to trade on the regulated market, but we all know: Regulation will be. The new By-Property phasing API makes it not just possible but also easy and cost-effective to develop as a user-friendly service, and yeah, remember, the main purpose for Nxt 2.0, Ardor, was actually to make it globally scalable.

Where does this leave us? Accounts can be tagged by 3rd party KYC service providers or, even better, by governments, may they ever choose to set official ID on accounts and begin using the benefits of the blockchain. Don’t get me started. Secure us, our medical records, money, ID – let us be secured by cryptography. Jelurida’s code does it for them. Give us voting rounds that cannot be interfered with as the result is public, and votes have already been counted by code, see the graph. It’s on blockchain, but energy efficient, secured by nodes all over the world, and while we’re at it – possible. And see, Ardor has, as another first, a solution to the blockchain bloat problem running in production. The first and most tested globally scalable PoS Platform. It’s here, get started.

Sure I am excited. I’m a Nxter. Aren’t you?

Come on, try it!

For newcomers, it may seem weird that scammers and developers collect millions and millions of dollars worth of ETH or BTC in ICO’s, selling their whitepaper only, describing smart contracts they want to invent, code, test, execute, and need us to trust, when old Nxt Cryptocurrency 2.0 already has the functionality that most of them seek. It’s weird that what most of all of these devs and their investors are trying to achieve already exists on Nxt, that now gets further ahead with the scalable and even more beneficent and featureful public Ardor Platform. Yes, it IS weird, that Nxt has been under the radar and ignored by, for example, the larger Bitcoin-paid media for so many years.

The Nxt core devs, Jelurida, has split Nxt into IGNIS, the transactional token of Ignis, the first and unrestricted full featured child chain on Ardor; the mother blockchain that forges all Ignis’ transactions and will give birth to a lot more and take care of all her children (child chains), as well as make sure they keep communicating with each other. This is Ardor. With Nxt being a blockchain 2.0 platform, should Ardor be called blockchain 3.0? Nxt 4.0? Who cares. If you’re just a little familiar with Bitcoin, blockchains and smart transactions, you will realize that you want to test this release.

For those who want to setup an Ardor full node, install the software as usual and start forging, the first block will be generated tonight at 00:00 (midnight) UTC time on Monday, Nov 6th (about 14 hours from now)

If you are installing on top of a previous Ardor release delete first the nxt_test_db folder from C:\Users\<username>\AppData\Roaming\Ardor on Windows, ~/.ardor on Mac and the Ardor installation folder on Linux. If you don’t do that you’ll be left on a fork.

Follow the development closely and take part in the community. Even without the awesome potential that awaits us with this momentous release, it’s always mindblowing development.

 

Ignis ICO Report 8

BTC is on a bull run, to put it gently. Anyone watching crypto charts and price indexes these days see the value of BTC (Bitcoin) skyrocketing up up up; resulting in most altcoins declining in value when pegged against BTC. This story also applies to NXT and ARDR, yet ARDR does extremely well in terms of fiat price.

IGNIS ICO – Final Round

The first child chain of Ardor, Ignis (named JLRDA in the ICO) is still for sale. Less than two days are left in the fifth and final round and it is not too late to participate. Millions of tokens are still available.

Nxter Magazine has followed and covered the twists, turns and the evolution of this decentralized ICO taking place on the Nxt blockchain in our ICO Reports, as well as in our weekly newsletters. Now we take one last look at the state of Jelurida’s ICO.

1.45 NXT per IGNIS, last chance to buy is 04.11.2017.

Live data from the Nxt blockchain

Was the ICO a Success?

Yes, millions of Euros were raised demonstrating public interest. In the first four rounds Jelurida, the company controlling the IP behind Nxt / Ardor / Ignis sold ~260M JLRDA tokens to a very eager public. The crowdsale was very popular in the first batches and rounds, with huge whales buying most in the beginning. But JLRDA tokens are still left over from the fourth round and it looks like millions will be left over from the fifth too. Buy orders are still flowing in daily, though not in the same tempo as in the beginning.

Why?

1) The price ladder

If you do NOT look at the price of NXT, buying now would seem like a bad idea.
But the fact is that NXT is currently the reference currency for JLRDA. You cannot ignore the NXT price.

When NXT decreases in value, so too do the JLRDA tokens.

What investors invest NXT in is the transactional token of the first child chain of the Ardor platform. A featureful public chain with no restrictions, no regulation, fully decentralized, and with several new advantages added on top of the variety of smart transactions (inbuilt, tested and secure smart contracts) that Nxt already offers.

2) The IGNIS airdrop – you can have both NXT and IGNIS

At the Ardor Genesis snapshot, half of all IGNIS tokens will be distributed to investors that hold NXT – 0.5 IGNIS for free per 1 NXT they hold in their account. So, they will get to keep their NXT.

Why would anyone sit tight and hold NXT instead of exchanging it for JLRDA? If NXT is expected to get dumped massively after the snapshot of Nxt’s blockchain this Xmas, isn’t it too high a risk to take?

Well, who knows, maybe it will not get dumped. Nxt is, after all, still an awesome blockchain 2.0 platform.

Lior Yaffe, CEO of Jelurida, commented:

Why would Jelurida stop developing NXT, a stable and mature product with a huge potential? Rest assured, NXT has a bright future, it has been around for almost 4 years and will be around for a long time.

Source

We won’t be able to sell private blockchains unless we have a successful public chain. We all realize this. NXT promoted Jelurida and Jelurida will promote NXT. The challenge is to create a win/win situation and we need your support for this.

Source

And so, in Jelurida’s roadmap it reads:

  • Support for existing community tools and services
  • Develop Nxt as a simple and secure crowd funding solution for new ICOs
  • Nxt blockchain maintenance for at least 3 years after the IGNIS crowdsale
  • Merge features added to Ardor which do not rely on the parent/child chain architecture

JPL

It’s easy to clone Nxt. On Jelurida’s homepage, there is a tool to privately launch and test a Nxt blockchain. And in addition, a Nxt Creation Kit, which makes it a no-brainer to start a new public PoS blockchain that adheres to the JPL license. Wait, is this not open source? Yeah, it is, but as covered here, from Nxt NRS version 1.11.6 and forward, cloners must pay 10% of their new blockchain tokens to NXT holders. This is a defense against the devaluation of the NXT token.

And those that do not want to pay? Well, they can choose an earlier version, but it will not be upgraded.

The international bank, BNP Paribas, is known for using Nxt. After testing it they implemented it. And, for example, Accenture and the NSD (Russia’s National Settlement Depository) use Nxt for testing decentralized voting. And Jelurida will sell private blockchains. Will this devalue NXT? Is it bad? Imho no – it is another proof that Nxt is very, very, secure. For Nxters that use the public chain as well as for banks and the companies that will inevitably follow suit and implement a business solution based on distributed ledger technologies. As Lior said, “Nxt will be around for a long time.”

0.5 IGNIS per NXT, snapshot this Xmas season. The Genesis block is to be forged on Jan 1st, 2018.

That is Jelurida’s treat. On top of your valuable NXT, you will receive an airdrop of 0.5 IGNIS per NXT into your account for free. Like a second Xmas.

3) Ignis is just the 1st child chain.
Ardor is a child chain platform. Someone will issue IGNIS 2, 3, 4 etc.

No.

According to the roadmap, for at least the next year, all child chains will be issued through Jelurida. Yes, Jelurida, the same company that sells and holds a massive amount of IGNIS. The JLRDA tokens still in Jelurida’s account after the ICO will be kept by Jelurida and used as they see fit. And Jelurida has expressed no interest in devaluing them.

Actually, Lior Yaffe’s vision seems to be the opposite:

While the Ardor platform can have multiple child chains with similar features, only the Ignis child chain will be created with no restrictions.

Source: Page 26

Today’s blockchains are Jack of all trades, if you are interested in blockchain voting, your node will still process and store forever all the identity management, asset exchange, ico transactions, iot sensor data, social network messages and every other transaction ever submitted to the blockchain even if you don’t care about them. And this is the main problem that the industry needs to solve.

[Ardor’s] unique parent child chain architecture allows us to separate each application into it’s own child chain and only store the few transactions which are important to the POS consensus algorithm in the blockchain forever. All other transactions can be removed (pruned) and nodes will only track the recent state created by them.

Furthermore, in the future this architecture will allow nodes to focus on specific child chains. This way, we no longer have the requirement that each node process all transactions. Then like the Visa network does today, we can scale to global scale.

Source

So rather than being copied onto other child chains, Ignis will stay unique, at least for a long time. An original non-restricted blockchain with the same features as Nxt, including shuffling of coins, assets and Monetary System tokens for user privacy, a totally unregulated marketplace and Asset Exchange, where you can distribute dividends (even other child chain coins) to asset holders with one click, execute polls among your asset holders, use Phased Transaction to create a DAO, and do even more than with Nxt, as Ignis will interact with all other child chains on the Ardor network. In other words, a great live reference blockchain, and a demonstration of Jelurida’s vision, work and worth, until …

4) Confusion

Then there is Ardor.

We have three coins in play.

$NXT, $IGNIS, $ARDR – picking the right one to invest in IS complicated.

The good old proven, but still under-used NXT, a prime mover in its field: energy efficient, the first 100% PoS, featureful, a best fit for private blockchains and running in production with the international banking conglomerate BNP Paribas (money over borders), used by NSD and Accenture for blockchain based voting security. And cloned and seen on coinmarketcap under a few other names too.

Ignored by the crypto (Bitcoin) media for years, developed with no dev- or marketing-budget, Nxt is all this. And after the ICO has ended, Jelurida has collected the monies to breathe life into both marketing, further development, and new dev education. Should we trust them to do it? I think yes. Because 1) They can. And 2) They do hold a lot of NXT. 3) The more we build on Nxt’s public chain, the better a showcase for Jelurida.

Then we have IGNIS, dubbed Nxt 2.0; will it make Nxt obsolete? Buying IGNIS is buying into the evolution of the Nxt blockchain technology. Janus will move to IGNIS. Adel will. Gabriel Dusil is already doing a great job attending events and private business meetings, all documented here.

For those still asleep, Nxt is a full economical infrastructure on the blockchain. Ignis expands it and devs with just HTML, CSS and .js skills can easily build free as well as paid user-friendly decentralized applications on top of it and even access the whole Ardor ecosystem of child chains. All the inbuilt Nxt smart contracts have been tested in the wild and passed the test as unbreakable. But Ignis will be expanded further. Already when it launches on January 1st it will have lots of extra functionality. 

The forging chain

The Ardor Platform, ARDR the parent chain token. This is the token that will forge and secure all future child chains, the full Ardor ecosystem. Ardor will be able to run as a full node on phones, so the security of the network will be safe.

Bitswift will have its own child chain.

Ignis will, of course, run on Ardor and use ARDR.

Donau Universität will develop several projects on Ardor.

There has been announced BTC and fiat-pegged child chains.

CBT Nuggets is buying 50M ARDR so they can be offering it for validated learning to all of their existing customers at cbtnuggets.com and plans to give away the equivalent of 100ARDR with every download of their new client along with profile creation.

Ardor is well described in the ICO Whitepaper and here.

You can see a technical comparison between Ardor and its competitors here.

This is just the beginning. There is money to hire more world class developers and fund a far-reaching marketing campaign. Also, if someone is dissatisfied, the code is open source and can be cloned, well if the JPL license is followed. A license good for holders. On December 27 Ardor’s source code will be released under the same JPL license.

So should I buy NXT or JLRDA? Or ARDR?

That is a personal decision.

One may not be better than the other, and in some way, they are all deeply connected.

The JLRDA crowdsale ends tomorrow. It will be the last chance to support Jelurida in creating our future, as well as the future value of all coins in the core platform. Remember, regardless of whether or not you participated in the ICO, you will receive a late Xmas present at the New Year of free IGNIS tokens equal to half the balance of NXT you have in your wallet. We are not here to give investing advice, merely to highlight and showcase the many successes and use-cases of the three tokens.

Thanks for reading along. Feel free to spread the word.


 

IGNIS ICO Report 7

Today the 3rd batch of Round 3, with 25 M JLRDA tokens, became available for sale. At the time of writing, there were still JLRDA tokens available.

Finally – some would say – the IGNIS ICO hype calmed down a little. Finally, it is possible to attend the ICO and buy JLRDA without running a full node client, placing several buy-orders in advance, or having to figure out the most advantageous peer settings and transaction fees in order to get a chance to win the over-participated lottery for future IGNIS tokens on the Ardor Blockchain Platform.

ICO: Jelurida [ID 823491988455668070]

Live data from the Nxt blockchain

peter2615

As someone said on the forum in the ICO thread:
In round one 1 NXT = 4500 Sat. 1 JLRDA = 0.4 NXT = 1800 Sat.
In round [three] 1 NXT = 2000 Sat. 1 JLRDA = 0.76 NXT = 1520 Sat.

So, the guy who ran away with all the JLRDA in the first few rounds did not get such a great deal afterall …

Live data from the Nxt blockchain

Either the whale investors

  1. Gave up (as they attended on equal terms with everyone else)
  2. Believe that 1 IGNIS token will be worth less than 0.76 NXT at the current NXT price
    (0.76 NXT = 0.07 USD or 0.0000162252 BTC)
  3. Believe that the price of NXT will rise a lot in the future – keep in mind that by holding NXT you get 0.5 IGNIS per NXT that you own at the snapshot (Q4 2017) and you get to keep your NXT
  4. Decided to invest in ARDR instead of JLRDA
  5. Do not even know about Jelurida’s work and the IGNIS ICO

Let us take a look at the three tokens in play, and you can choose your path to success by choosing which one best suits your interests and needs.

NXT

Nxt launched in 2013 as the first 100% Proof-of-Stake (PoS) blockchain ever and has run stable ever since. Over the years Nxt was optimized with built-in smart contracts that anyone can use “as is” or use them to build their decentralized applications with – without risking their investors’ money or the security of the blockchain, as no 3rd party code is added to the blockchain. Nxt’s smart transactions are rigorously tested in production and can be accessed using the Nxt API, which supports over 200 request types. Nxt is coded in Java, the leading industry standard language for corporate applications. The Nxt platform is open source for its open and supportive community. Nxt is called the “Swiss army-knife” of crypto, undervalued in the markets, and technically ahead of the competition.

With the new JPL license, owners of NXT are entitled to receive 10% of tokens from clones of Nxt.

https://nxt.org
https://nxter.org/tutorials
https://nxter.org/newsletters

IGNIS

Ignis will be the first child chain on Ardor. Ignis will have all of the features of Nxt, except for forging – it will be secured instead by Ardor’s main chain. Users of Ignis get UNRESTRICTED ACCESS to all existing and future Ardor child chain features. Do not expect unrestricted access from any other child chain in the ecosystem, as their creators may restrict those. Ignis will constantly be pruned (no blockchain bloat – means: globally scalable) and will feature cross-chain transactions, e.g., token and asset trading, and access to custom features on any other child chain. JLRDA, the non-transferable token sold in the ICO, represents the monetary unit and transactional token of Ignis, IGNIS, 1:1. JLRDA tokens will convert to IGNIS automatically at the Ardor Genesis Snapshot.

https://jelurida.com/ico
https://www.nxter.org/tag/ignis-ico/
https://www.jelurida.com/ardor-nxt-feature-comparison

ARDOR

Ardor is Nxt 2.0 and is best described as a Blockchain-as-a-Service (BaaS) platform, currently running on testnet. Ardor is the main chain that will secure, bundle and forge all transactions on the network of child chains. Ardor will make the features of Ignis available to other child chain creators, but restrictions can be placed if certain features are not desired, such as shuffling of tokens, the unrestricted decentralized marketplace or the unregulated asset exchange. Child chains will have their own operational token so users will not have to buy “gateway tokens” such as NXT, ARDR or ETH to use them. Child chains will be prunable and will not have to be bootstrapped, as they are secured by Ardor. Child chains can be spawned and customised with help from Jelurida, but the ability to create new chains will eventually be integrated into the software as a DIY module. For those that like account and ID regulations and restrictions – Ardor is the place to be. For those that like to forge all child chain fees – Ardor is the place to be.

https://www.ardorplatform.org
https://nxter.org/ardor-blockchain
https://www.jelurida.com/sites/default/files/JeluridaWhitepaper.pdf


 

 

Live data from the Nxt blockchain

ARDOR introduction video

Q4 2017

  • Ardor mainnet launch
  • Migration of ARDR balances from the Nxt blockchain asset to the Ardor Genesis block
  • Spawn of the IGNIS child chain based on NXT and JLRDA balances
  • Spawn of Bitswift child chain with 10% share drop to IGNIS holders
  • Spawn of BTC, EUR, and USD pegged child chains backed by 3rd party business entities

ICO’s are hot right now, and the choice is hard if you have money to invest. The choice is entirely up to you – supporting any chain supports Jelurida, the company that owns the IP for the above tokens.

Right now, the JLRDA tokens are for sale on the Nxt blockchain and will be automatically swapped for IGNIS tokens on the Ignis child chain when Ardor and Ignis are launched together in Q4 2017.

#nofomo

You need NXT to buy JLRDA. The most secure and the recommended way to buy JLRDA is from the IGNIS Token Sale link in the NRS Client, currently running V1.11.9.

You can use Jelurida’s online Nxt node or download and run the client locally – as light (no blockchain download) or full node. You can also use Nxt OFFLINE to create cold storage accounts to buy IGNIS.

JLRDA tokens cannot be transferred or traded until Ardor is launched – do not fall for scams.

Stay tuned for more up-to-date coverage on the ICO. We will explain in more detail about Jelurida, Ignis, Ardor, and everything else that is pertinent to this ICO. We won’t give trading advice.

Follow us on Twitter for breaking updates. And please help us grow as we continue to provide our readers with excellent and focused coverage on the ever growing blockchain space by rewarding us for our efforts – Donation address: NXT-TK9J-MEKH-MUP9-HFCH2.

This article is for educational purposes only. It is advisable never to invest more than you can afford to lose.

IGNIS ICO Report 6

Round 3 of the IGNIS ICO is underway, and the first batch has already sold out. Interest is high in this ICO, and that is good news for Jelurida and the entire Nxt community. The third round of the crowdsale is divided up into four offers of 25 M JLRDA each, all priced at 1 JLRDA for 0.76 NXT.

JLRDA batches will be sold according to the following schedule:

Sat, Sep 9th between 06:45 - 07:15 UTC
Sun, Sep 10th between 18:45 - 19:15 UTC
Tue, Sep 12th between 06:45 - 07:15 UTC
Thu, Sep 14th between 18:45 - 19:15 UTC

The exact time within each 30-minute interval is randomly determined. Jelurida reserves the right to modify the above schedule in case of circumstances beyond its control.

The IGNIS ICO is, in essence, a barometer of the public's interest in the Nxt and Ardor Platforms. With Ardor due to launch in Q4 of this year, Jelurida needs to know how to split up their limited dev resources. The funding raised by Jelurida, which owns the IP for Nxt / Ardor / Ignis is directly going towards actively developing Nxt. So far Jelurida has procured enough funding to actively support Nxt for, at least, the next three years.

The ICO so Far

The highlights of Round 1 in early August were the whale "MAAC" eating up the entirety of the first couple of batches. He accomplished this through clever use of the Nxt blockchain protocols. Within 48 hours Jelurida senior developer, Lior Yaffe, released a patch to prevent similar occurrences: NRS client V1.11. 7. The Nxt platform now allowed for scheduling transactions up to 24 hours in advance.

Like the first round, Round 2 sold out in seconds. The current and most stable NRS client is V1.11.9.

So far every round of the ICO has sold out before the JLRDA sell offers had posted! Since the demand for the IGNIS ICO is still higher than the supply, the way to have a shot at getting JLRDA is to schedule your buy transaction in the NRS client 24 hours before the batch is officially for sale.

REMEMBER - Jelurida is the ONLY source of official information about the IGNIS ICO. All info here is directly provided by Jelurida. 


Ignis ICO Report 8

By apenzl | 03/11/2017

BTC is on a bull run, to put it gently. Anyone watching crypto charts and price indexes these days see the value of BTC (Bitcoin) skyrocketing up up up; resulting in most altcoins declining in value when pegged against BTC. This story also applies to NXT and ARDR, yet ARDR does extremely well in terms of … Read more

IGNIS ICO Report 7

By apenzl | 13/09/2017

Today the 3rd batch of Round 3, with 25 M JLRDA tokens, became available for sale. At the time of writing, there were still JLRDA tokens available. Finally – some would say – the IGNIS ICO hype calmed down a little. Finally, it is possible to attend the ICO and buy JLRDA without running a … Read more

IGNIS ICO Report 5

By apenzl | 30/08/2017

Is your bid order in place? Popcorn ready? Tomorrow, on Thursday, Aug 31st between 18:45 – 19:15 UTC, the last batch of Round 2 in the IGNIS ICO is offered. That’s the last of 4 batches, each counting 20M JLRDA tokens. The price is 0.55 NXT per JLRDA – the token that will swap 1:1 … Read more

IGNIS ICO Report 4

By apenzl | 24/08/2017

And so, the hunt for JLRDA is about to resume. Round 2 of the IGNIS ICO will kick off Aug 26 between 06:45 – 07:15 UTC The price will be 0.55 NXT per JLRDA, with 80M JLRDA tokens for sale in this round. Anyone who did their due diligence will know: Ignis will be launched with … Read more

IGNIS ICO Report 3

By apenzl | 10/08/2017

Only 1 batch left of Round 1! UPDATE: no JLRDA left from Round 1!  Round 2 will begin on August 26. And so, here’s a re-cap, as the hunt for cheap JLRDA continues… Early NXT investor ‘MAAC‘ has taken much of the limelight as he overruled “normal” participants by using the advanced features of the … Read more

IGNIS ICO Report 2

By apenzl | 07/08/2017

Did you hold your breath? Never mind, the second 5M batch of the IGNIS ICO got snatched by MAAC the Whale. And also most of the third. But look at this now: Live data from the Nxt blockchain 69 new buyers got their hands on JLRDA  – no ninja tricks, no bots, just by using … Read more

IGNIS ICO Report 1

By apenzl | 05/08/2017

The long awaited crowd sale of the IGNIS token has begun. For sale are 440,000,000 Jelurida tokens (JLRDA) out of 1,000,000,000 total. The Nxtchat.slack has been buzzing for weeks with anticipation and discussions of how to get your hands on these JLRDA tokens and this article contains some important information pertinent to your investing decisions. … Read more

Ardor is about to launch, and the revolutionary parent - child architecture will solve many blockchain problems. Follow us on Twitter for important breaking updates during the week as they happen. Learn more every Monday with the release of the weekly Nxter Newsletter. We explain in more detail about Jelurida, Ignis, Ardor, and everything else that is pertinent to this ICO. Stay tuned and stay informed, dear readers. See you back here next week!

Help us grow and help us continue to provide excellent and focused coverage on the ever growing blockchain space by rewarding us for our efforts. Donation address: NXT-TK9J-MEKH-MUP9-HFCH2.

Thanks to https://twitter.com/lepych10 for beach art / NXT>ARDR img  🙂

IGNIS ICO Report 5

Is your bid order in place? Popcorn ready?

Tomorrow, on Thursday, Aug 31st between 18:45 – 19:15 UTC, the last batch of Round 2 in the IGNIS ICO is offered. That’s the last of 4 batches, each counting 20M JLRDA tokens. The price is 0.55 NXT per JLRDA – the token that will swap 1:1 for IGNIS tokens when the Ardor Genesis block is created in November 2017. Each and every single batch until now has been sold out in 1 block.

For your reading pleasure, fellow Nxters, let’s quickly touch base with the nxtchat.slack Round 2 experience:

1st batch:

amsi [8:53 AM]
now !!!!!!!!!!!!!!!

martis [8:53 AM]
now!!!!!

gabriel [8:53 AM]
woooo

strophy [8:55 AM]
lol that went fast

josenxt [8:56 AM]
39,703.93 fee in that block? :scream:

lordcameltoe [8:57 AM]
how will I know if my transaction worked?

peter2615 [8:57 AM]
you wait… until next block, to see which offers got filled

As demand is a lot higher than the supply of JLRDA, and as the crowdsale is being held on a decentralized platform, executed under the rules of the blockchain, there were investors that didn’t get lucky. The rules are clear though and people’s different attempts to take advantage of them in the lottery, are transparent as well.

Logan summarizes:

You have to be in the same block, as the JLRDA TX. The capacity of one block is 255 TX. Higher fees are priorized to get in the block and the JLRDA TX will have a fee of 5 NXT. Thats the information you need to make a decision. But there is no right or wrong. Depends on what other people are doing.

riker [10:43 PM]

What happened in practice today was that one account NXT-GJE7-KWDJ-SFWJ-APQ6S tried to game the system by submitting many transactions with 5.2 NXT fee. I’m not sure what was his calculation. What it did is that it delayed the Jelurida transaction to the next block. But we anticipated this in advance and double checked that this does not provide any advantage to anyone.

bitcoinpaul [3:36 PM]

what can we learn from that?
dont bloat the chain with high fees, guys.

Riker

It’s a game theory problem; if everyone submits their transactions with 4 NXT fee, and a single guy with 6 NXT, this guy has an advantage. His transaction, the offer, and as many as can fit from the rest will fit in the block.

If everyone thinks this way and submits their offer with a fee of 6 NXT, all will lose, since their transactions will be included in a block before the sell offer.

forkedchain [5:33 PM]

For the latest JLRDA sell offer, there were 4 completely full blocks, each with 233 TXs, and an additional one with 58 TXs. There were 484 unique accounts that sent TXs in those 5 blocks.

2nd batch:

logan [9:01 PM]
dingdingdingding

vintash [9:08 PM]
yyyyeeees
im in!!!!

mroenne [9:08 PM]
Finally :sunglasses:

vintash [9:09 PM]
yeeeees

gabriel [9:09 PM]
YEAAAAAAH

marenkar [9:10 PM]
Whoa that’s a lot of people who got in this time.

peanut [9:12 PM]
Finally I’m in. I also noticed odd fee sizes, so I used one too just for good luck hehe

eu58 [9:14 PM]
I put 4 NXT for the fee and succeeded!

martis [9:18 PM]
I put 2 scheduled orders and both were filled. Fee was 4.9. No bot, no API, just used “Ignis token sale” link. Previous rounds were unsuccessful for me. As I reached my limit for buying Ignis, I will not participate in other rounds, so more chance for others.

forkedchain [9:53 PM]
I sacrificed a ton of ants just yesterday. ran over a huge ant bed with my mower while cutting grass, AND IT WORKED I GOT SOME JLRDA TODAY!!

logan [10:54 PM]

If i use a node with a comparatively bad connection and you use one which is a few milliseconds faster to publish the Offer TX, the chance that my orders will be filled is nearly zero, isnt it? or at least much worse compared to others

riker [10:55 PM]

Assuming you did everything else right, the more central and well connected your node is you’ll have better chance.

If you are the forger, even better, since then you have no latency.

forkedchain [11:47 PM]

well, it looks like some of my forging pool members were big winners today – all of a sudden my pools forging power has dropped by 5M.

My pool forged the golden block again. I wonder if some pool members had set up my pool as a well-known peer, and that’s why they won.

In lots of my previous attempts, my transaction was in the same block as the SELL, but at an earlier index position in the block. So I didn’t get anything. That means my latency to the forger was really good, but the forger’s latency to the p2p network (network as a whole) whereby that SELL transaction eventually found its way to the forger, was high – its all luck.

Batch 3:

jesus [8:54 AM]
woohhaaaa

thewiremaster [8:54 AM]
Go! https://nxtportal.org/monitor/

josenxt [8:55 AM]
269 unconfirmed transactions!

peter2615 [8:56 AM]
wow… NXT-3CJT-YF6A-VJ5D-DNSWR

gabriel [8:58 AM]
LOL, who was complaining about there not begin enough small transactions

mikevanegan [8:58 AM]
Booya worth getting up 2am. 295,000 JLRDA

peter2615 [8:58 AM]
lol @ NXT-GJE7-KWDJ-SFWJ-APQ6S

shugo [9:02 AM]
omg I finally got in, 4.9 fee
@all with no luck, dont give up (I almost did…)

vizanto [9:03 AM]
Your JLRDA balance 47,840 !!!!!!!!
this was my 3rd try

yelth [9:07 AM]
this was my 15th 🙁

winiusty [12:07 PM]
Hi guys, I bought while sleeping lol
strange feeling

gabriel [3:20 PM]
only problem is the people who couldn’t get in until now and are frustrated, which is totally understandable, but as time goes by, more and more of these people are getting their orders fulfilled, so it will eventually work out just fine, imo

yelth [3:22 PM]
Potentially, but I can just as easily see there as being huge problems with it later on.

potshot-rsa [3:45 PM]
I got my IGNIS at 2017/08/09 8:59:12. I’m in South Africa with a 4Mb/s ADSL connection.

jesus [3:23 PM]

@yelth, i stopped worrying about it. it´s what it is. every other setup would have been stretched to the limit as well. I can see the jelurida marketing machine start working, that´s my main concern. looking at my ARDR and NXT investment, the ICO is a good thing. if i can´t get in cheap, so be it.

And so…. 1 batch left of Round 2. Join nxtchat.slack to ask questions and take part in the discussion. And if you wonder what all the fuzz is about – oh man. The IGNIS whitepaper, and all ICO details can be found here.

These are the stats from the ICO so far:


Live data from the Nxt blockchain