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

Jelurida AMA on Cryptocopia

For those of you who do not know, a semi-private AMA (Ask Me Anything) session with Jelurida occurred on the Cryptocopia Slack last Wednesday, August 23rd at 22:00 CEST. Jelurida spoke at length with the community, answering many questions about the now-in-progress, IGNIS ICO, Nxt, the blockchain, and much more. Only registered members of the Cryptocopia community could participate, but since we are so well connected we have you covered!

Cryptocopia’s registration-page has been offline ever since they made the AMA announcement, but here we give you an abbreviated, “best of” version that has all the relevant information and highlights that you need to know.

myco [10:02 PM]

Hello, and welcome! The Jelurida AMA is starting now!

Our guests from the official Jelurida team are:

petko

Hi! My name is Petko Petkov. I am a software developer. I’m contributing to NXT since Jan 2015. Then participated in the design and the development of the Ardor platform.

tomi

I am also a software developer, with more than 15 years of experience. I survived the dot-com crash, worked for a few companies in the Silicon Valley, then for a small startup, then became interested in crypto and Nxt in particular a few years ago. Now I am a part of the core Nxt development team.

The other core developer, Lior Yaffe, unfortunately couldn’t attend this AMA tonight as he is not feeling well. Lior Yaffe is a very talented developer and also lately doing a big part of the project management.

kristina

I am not a developer and before becoming interested in cryptocurrencies and blockchain technology I have been working as a legal advisor. I have been following Nxt from its very beginning and when Jelurida was created last year I became an official part of the team because the developers were looking for somebody to take care of organizational, administrative and legal tasks. Now, with the company growing bigger and the upcoming launch of Ardor, I am fully occupied with work and 100% devoted to it.

What will happen with NXT?

Q

myco

I know that we’ve gone through several stages in the transition of NXT to IGNIS and ARDOR.

Could you explain at a high level what is happening with NXT for those who do not know much about it?

kristina

Ardor can be considered Nxt 2.0, because it is being built using proven Nxt technology. The Nxt public blockchain, and software, will continue to exist and be maintained by Jelurida.

There were quite a few technical reasons why Ardor had to be started as a separate platform, and it wasn’t possible to just upgrade Nxt to it.

petko

NXT is an open-source project and POS-based cryptocurrency. We are planning to continue maintaining it, but after all, its the NXT stakeholders who decide whether to use the software we develop. So, there is no actual transition – we had the idea about Ardor and decided to work on it. NXT will continue to exist one way or another. As @kristina explained, there are technical reasons that prevent us from upgrading NXT to Ardor. But we distributed the Ardor tokens to the NXT stakeholders at 1:1 ratio.

Q

dereje

With the development of ardor and jlrda, do you see nxt eventually dying out from lack of support and development?

tomi

We have promised to support Nxt for at least a year, or longer, depending on the funding level obtained in the ICO, and depending on the demand for it. We will also backport features from Ardor to Nxt, if we can hire enough developers to dedicate to that. We expect that Nxt will stay as the stable, well tested and reliable platform. And not all use cases need Ardor with its multiple child chains (which also brings complexity).

kristina

please remember that Nxt is a proven and stable blockchain with a large variety of features, a platform well suited for ICOs for example which is a functionality we plan to further enhance.

Jelurida

Q

myco

What is the development like for Jelurida?

Do you work remotely, or do you have an office where you meet?

tomi

We don’t have an office, working remotely all the time. We do plan to establish a physical office however, depending on the success level of our ICO.

Q

myco

What are the upcoming tasks that the Jelurida team is focusing on in the short term?

kristina

After our ICO is over the snapshot will follow and of course the launch of the Ardor platform.

Q

sanchopansa

How many people are working full-time on the project?

kristina

4 (3 developers and myself) + 2 part time developers.

Q

sanchopansa

How do you plan to generate revenue and when do you foresee to become profitable?

Kristina

We have several possible sources of revenue – licensing of the software for private blockchains, child chain creation, and revenue sharing with businesses that run child chains, consulting, custom wallet creation. Other minor revenue sources are listed in the whitepaper.

We aim to become profitable and self sustainable by the end of 2018.

Q

doubleqp

How much funds do you expect to need until the end of 2018 to survive?

kristina

what we have collected already is enough to survive until the end of 2018.

Q

doubleqp

So what’s your reason to collect even more money?

Kristina

For two reasons: we have a detailed plan how we can utilize the funds up to €50M.

And because we exist in a very fast growing field where our competitors raise/have raised millions which they are using for marketing and because we cannot allow a technology with such a great potential not to succeed.

marenkar

In section V3 of the white paper, (https://www.jelurida.com/sites/default/files/JeluridaWhitepaper.pdf) Jelurida goes over their plan with regards to the amount that they raise (starting on page 36). More funds raised generally means a larger team, more projects, and more business activity.

tomi

Jelurida was established last year as a corporate entity to manage the development of Nxt and later Ardor. Before that, Nxt was developed as a volunteer open source project, without a legal entity behind it. This was problematic when trying for example to license the Nxt software for commercial purposes, and when having to protect the IP behind it.

IGNIS ICO < > NXT ?

Q

myco

When will the IGNIS snapshot take place?

vanbreuk

From https://www.jelurida.com/ico, “The Ardor Genesis Snapshot will be performed at least two weeks after the end of the last JLRDA sale round”. But no exact date has been announced yet.

Q

myco

What happens to the NXT collected in the ICO for IGNIS?

tomi

We will be selling most of the NXT for BTC and fiat, because the purpose of collecting it is to provide funding for the company. We have been very clear about that in the whitepaper. Some amount of NXT, up to 40 M, will be kept by the company.

Q

myco

It seems like selling the NXT you receive in the ICO for BTC and fiat will make the NXT have a much lower value.

Who will be buying the NXT from you? people who want to hold for the IGNIS snapshot?

tomi

We have already sold most of the 24 M NXT collected in the first round, it didn’t crash the price. We expect people who want to participate in the next rounds, or didn’t have a chance to buy in the previous, to be buying this NXT. And at the end, indeed those who want to hold for the snapshot. But even after the snapshot, we believe NXT will continue to have value, and this value will probably become stable, as no major disruptions will happen to it anymore.

kristina

People believed that NXT will lose value after the Ardor asset was launched too, but it didn’t happen… It indeed dropped temporarily but after that it went back up again…

Q

myco

What new functionality is present in IGNIS that was not present in NXT?

tomi

We have a feature comparison table on the website, few things I can think of: asset dividend payments using other assets, or MS currencies, or other child chain coins; asset share increase transaction; smart phasing (a boolean composite of phasing conditions); asset control…

About Ardor

Q

myco

What is the current status of development on ARDOR? When will that be a useable technology in production?

tomi

It is running on testnet now. The multiple child chains framework is implemented and working, you can try it. We are planning a new testnet release some time before the snapshot, which will introduce some innovative features – smart phasing and asset control for example.

The pruning and snapshotting parts of the Ardor design are currently being worked on, and will not be part of the initial release, they will be ready later. See the roadmap on our website for all details.

Q

myco

What mechanisms would cause the rise in price of Ardor? What is Ardor used for?

tomi

Ardor will only be used to provide security for the whole system, it is the token used in the proof-of-stake algorithm. It intentionally has very limited other functionality, as Ardor transactions by design must remain in the blockchain (and cannot be pruned like child chain ones). Having significant Ardor stake will allow users to run forging nodes, and collect fees from all child chain transactions (converted from native tokens to ARDR by their bundlers).

myco

I can understand that value if you get native tokens from staking ardor… but why would I want to get more ardor for staking ardor if there is no additional utility to it besides getting more ardor? It seems circular. what am I missing?

petko

Ardor is like the mining hardware in bitcoin, minus all the wasted electricity

marenkar

For child chains to run, bundlers will need to exist to collect child chain tokens and then pay ARDR to the forgers to process the transactions. Any account can opt to be a bundler as long as they have ARDR and set the rate they want for accepting child chain coins relative to the ARDR paid out to forgers. Transaction fees paid out to forgers will be fixed based on the amount of data processed and/or the type of transaction and have a similar fee structure as that with Nxt ( `https://nxtwiki.org/wiki/Transaction_Fees` ).

In terms of value, assuming all other things held constant, the more child chains on Ardor and the more activity on the child chains on Ardor, the higher the demand for ARDR as the need for it increases to handle the increased demand for transaction processing.

Q

oojacoboo

So Jurlidia needs money to develop Ardor so it can try and sell sidechains to companies?  That the tldr; ?

tomi

Child chains can be useful not only for companies, but for the general public, even when there is a company behind a particular child chain. For example a pegged child chain, with token value fixed to fiat currency, maintained by a 3rd party business who charges commission on entry and exit from the system – but all users than can transact with this currency on the blockchain, denominating their transactions in it. And the Ignis child chain, for which the ICO is being conducted, will always remain decentralized and accessible to everyone.

kristina

not only creating child chains, but also private blockchains – it depends on the use case

and please note that the Ardor child chains are not side chains. The difference between them is explained in our Whitepaper.

Link to white paper – `https://www.jelurida.com/sites/default/files/JeluridaWhitepaper.pdf`

Link to page about side chains vs child chains – `https://www.jelurida.com/child-chains-and-side-chains`

Q

sanchopansa

What are the major industries/verticals that you are hoping would be using NXT?

tomi

Banking and financial sectors, asset issuance and trading, voting (including shareholder meeting voting), crowdfunding. We have been in talks to several banks that are testing internally our technology, but since this is under NDA I can’t mention names until it becomes publicly known.

Q

sanchopansa

Do you have any commercial partnerships/deals that you can talk about?

kristina

The ones not covered by NDAs – we have partnerships with companies/projects like TLVC, Beecrypt, Bitswift, Sigwo Technologies and quite a few others to be announced soon…

Q

sanchopansa

If I understand correctly, you’re in the blockchain-as-a-service space so that would make Stratis, Lisk, Ark and maybe to some extent Ripple your competitors. Why would any business use Ardor instead of these other options?

tomi

We believe that our parent – child chain architecture is currently unique in the blockchain space, and it opens the door for even more use cases and a greater interoperability between child chains. It also solves the blockchain bloat problem – which I don’t believe those other platforms have a solution for. Ardor is based on the tested and stable Nxt codebase, and has a very rich feature set which will be carried over to it from Nxt.

Price speculation

Q

myco

Why do you think that NXT has been left behind in price, relative to new coins coming out in the past year?

marenkar

There’s quite a lot of reasons because Nxt has existed for quite a long time, such as a lack of a proper team, which Jelurida now fills, a lack of funds, which this ICO now aims to address. Also it being the first Proof of Stake platform during a time when everyone wanted to mine held things back a bit. I made a long post about it if anyone’s interested – `https://www.reddit.com/r/NXT/comments/6m2tyd/why_did_nxt_never_catch_on/djyjxa6/`

Q

myco

What are you going to do differently with IGNIS to make a token that people want to hold?

Or will you focus on making money through corporate consulting use cases?

Petko

My personal opinion is that there is no need to do something special with IGNIS in order to differentiate it from the other child chain tokens. Same like NXT – everyone is free to clone NXT and start another blockchain and token (and there are many clones existing), but the NXT token only one

Q

oojacoboo

And why would I want to own any JLRDA tokens?  What value do they have, since this is a funding model for Ardor…

thewiremaster

The JLRDA MS tokens represent the IGNIS tokens you will get at Ardor launch.

vanbreuk

If a company is funded for developing the platform where your tokens are used, there is a much bigger chance that tokens will appreciate in value. I don’t understand the question.

kristina

Yes, we are selling tokens, that’s right. You may want to fund the development of Ardor because it will be a scalable PoS multi chain ecosystem – it will be the next big step in the blockchain industry

marenkar

Ignis will be the first child chain on Ardor. The Ardor main chain will not have substantial features as it is intended to secure the Ardor network and not be a regularly-used chain. Ignis provides an unrestricted way for users and organizations to utilize the features of Ardor, such as creating an asset or setting up a decentralized poll. Transaction fees to do these transactions will be in IGNIS not ARDR. Other child chains will also have these capabilities but they may set restrictions on them.

The JLRDA > IGNIS ICO

Q

myco

Where can we find the best instructions for how to participate in the ICO? The software used for the ICO is different than the BTC/ETH icos we’ve been participating in lately

tomi

Since we are running our ICO on our own blockchain, it is using the Nxt wallet. It may indeed look different from the BTC and ETH client, but shouldn’t take long to figure out, and especially for the purposes of the ICO we added a separate page – accessible from the Ignis Token Sale link in the header, which really makes it easy.

But do read the instructions on our jelurida.com/ico page, there is also a video showing how to do it, and we plan to post more instructions in a video or pdf too. And remember, only use the IGNIS Token Sale link from the header – do not buy any similarly named tokens/assets/marketplace goods, as unfortunately there have been scammers selling fake JLRDA or Ignis tokens.

Q

myco

What does it mean that IGNIS is “fully permissionless” compared to other child chains

kristina

It means that it is open for everybody to use freely. Other child chains will be associated with a specific use case, a company or an organization behind them. Some of them may want to implement restrictions such as KYC for example….

tomi

Permissioned blockchains is something our enterprise customers ask for, as they want to be able to control who can connect to the blockchain (read access), who can send transactions (write access), and who can give or take such permissions (admin access). Some of this functionality will also be added to child chains that may need it.

Q

lordcameltoe

How will the next IGNIS sale be handled to avoid having whales scoop up the majority of coins before everyone else?

tomi

Everyone has equal chance to participate in the Ignis sale, using our scheduled transaction feature which automatically submits their purchase transaction as soon as the sale offer is posted. And the batch will be split into 4 rounds of 20 M each, again to give users multiple chances to participate.

lordcameltoe

So the technique one person used last time to get most of the tokens has been patched?

vanbreuk

Rather than patched, the Nxt Client now allows for everyone to place a buy order in advance, before the next batch of tokens is effectively placed for sale. So the tactical advantage of that person in the first few batches is not there anymore, since anyone can do it from the client.

marenkar

I’m not 100% sure how it works but it ends up being a lottery of sorts. Some users couldn’t get in, others could. A few users were able to get in even without the scheduler though, but that was rare. Well, at least from what people claimed on Slack.

Thanks for tuning in, dear readers. That was an interesting and informative AMA from Jelurida. They clarified a lot of their plans and continued to bring attention to the IGNIS ICO.

For our ongoing coverage of the ICO, we have our special report series and a weekly Nxter Newsletter, that follows blockchain trends and reports on the last week in the ever growing world of the blockchain. Follow us on Twitter for important breaking updates as they occur. Stay informed and keep reading.

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.

NXT

IGNIS ICO Report 4

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 all of the features of Nxt, plus more, and it will be created with no restrictions. When Ardor launches, hopefully, November 2017, each JLRDA token on the Nxt blockchain will be swapped for one IGNIS coin in the Ignis Genesis block. 

First child chain, so what? Well, take notice that Ignis will be unrestricted. Ardor child chain creators may choose to disable certain features or set overall rules that not everyone may agree with, as well as possibly control the supply or future distribution of coins used on their child chain. Permissioned child chains can impose restrictions on their users such as KYC/ AML, personal data protection, time-limited data retention, local securities trading laws for asset issuers, etc. But the Ignis child chain will be permissionless, available to the general public, with no restrictions on who can transact with it.

Nxt’s features are described here.
The differences between Nxt and Ardor is available here.

Ignis holders will have easy access to other child chains and benefit from services they provide. Assets, for example, are global, so assets issued using the Ignis child chain can be traded on all other child chains and vice versa. IGNIS can also be traded for any other child chain coin or even ARDR using the inbuilt, decentralized Coin Exchange.

NXT > IGNIS

You need NXT to buy JLRDA, and the NXT price has taken a good beating since Round 1.

The bright side is that the current NXT price makes 0.55 NXT per JLRDA a mighty favorable buy, also compared to the price in Round 1. Not investment advice, just saying, if you’re eager to own JLRDA, now is not a bad time to get in. Long term investors may see every round as a bargain, but do your own due diligence, read the white paper, try Nxt in production, try IGNIS and Ardor on the testnet, and draw your own conclusions. We mean it – you should ask for testnet coins here.

NXT can be bought on exchanges with fiat or BTC or with most cryptocurrencies directly in the NRS Client, using Changelly or Shapeshift.

80M JLRDA in Round 2

In Round 2, 80M JLRDA will be released, divided into 4 batches.
The 4 sell offers will be placed randomly within these 30-minute time frames:

Sat, Aug 26th between 06:45 – 07:15 UTC
Sun, Aug 27th between 18:45 – 19:15 UTC
Tue, Aug 29th between 06:45 – 07:15 UTC
Thu, Aug 31st between 18:45 – 19:15 UTC

To get a fair shot at getting in, ICO participants are recommended to place their orders using Jelurida’s official ICO sales page in the latest client release, NRS 1.11.8. Install, wait for the blockchain to download, place your order and keep the client running until the sale is over. Run the client in full mode.

As many buyers missed out on getting tokens in Round 1, we foresee another battle for tokens coming up. If you miss out on a batch, try the next one. Due to much higher demand than supply, the ICO is set up to run like a lottery to give equal chances for all.

Here’s how to attend:

https://youtu.be/NsRs0vpeNHE

The NXT to invest

When should you get in? Jelurida cashes out their NXT on Bittrex, and also the late BTC rally has been too tempting for some traders to stay in NXT. If you want to crystal ball the NXT market movements, at least be aware of this >

https://nxtportal.org/accounts/9419511406156481100

That is Jelurida’s ICO account. 3M NXT only, out of the first 24M (from Round 1), is left at the time of writing, the rest has been liquidated.

gabriel [8:35 AM]

Jelurida sells the NXT that was raised to fund the future development of Ardor/Ignis/Nxt, so while there is a strong demand for NXT, it is partly offset by the sell pressure from the ICO itself.

This is however great news for the future of all 3 platforms since they will have strong funding.

Jelurida sells the collected funds in batches on the market, to avoid a big dump, which so far seems to work according to the plan.

Plus, as summarised by Riker in nxtchat.slack:

riker [8:54 AM]

Jelurida now has more than enough resources for PR and marketing and we chose Blonde 2.0 and TLVC as our partners since they have a lot of experience in promoting the crypto/crowdsale business.

In addition we are now running full scale marketing campaigns on CMC, Google, Facebook and with anyone who is willing to cooperate and market us. If marketing and PR was indeed our problem for all these years, this problem has been solved.

Afraid of whales?

Sure, the first batches of Round were eaten by MAAC The Whale and rightfully so, due to his study of the Nxt blockchain and tests done beforehand. That said – you should stop worrying.

In case it went over your head, Jelurida solved the problem within 24 hours and released a version of the NRS Client, which not only hacked the hacker but also allowed ICO participants to place their JLRDA orders in advance of the scheduled sales windows.

Use that to buy in, and you’re good. But still, be aware not to place your order more than 24 hrs ahead of time;

When running as a full node, the Nxt software allows you to schedule the JLRDA currency buy transaction in advance, before the JLRDA tokens are offered for sale.

Since transactions by default expire in 24 h, such scheduled transactions must be submitted not earlier than 24 h before the expected time of the offer. Scheduled transactions are kept in memory, therefore restarting the node will also clear them and will require you to re-schedule them again.

Good luck. We will keep you informed.

Want to share your IGNIS ICO experience with us? Leave or comment or email us! Stay tuned and happy hunting!

IGNIS ICO Report 3

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 Nxt Blockchain as well as his stake to get ahead of the competition from Day 1.

In what was supposed to be a fair and equal early-bird lottery, divided into 12 batches as a way to stop whales from buying up all the tokens in the early stage of the ICO (as they tend to do), the IGNIS ICO was meant to be different.

 

The Get-There-First Hackathon

The theory that MAAC had used a bot to pick up the first 2 batches of Round 1 got turned down by MAAC himself, but behind the scenes, intense coding WAS going on, and an investment bot with the aim to out-compete all other attempts to invest in the IGNIS ICO WAS underway.

Only the bot was coded by Jelurida.

Those not following us on Twitter, FB, or having signed up for Nxt email newsletters, we hope you did not miss the release of NRS 1.11.7.

NRS 1.11.7 is not a small bugfix release – you must run this client version if you want a chance to get JLRDA tokens from the ICO. Furthermore, with NRS 1.11.7 you will not have to get up early / stay up late for the 2 daily 30-minute release windows, you can just enter your bid in advance and check the result of the lottery later as it fits your schedule. Read more… 

Also see: https://nxtforum.org/general-discussion/i-just-want-to-say-what-a-big-deal-1-11-7-is/

 

Lior Yaffe (Riker) has uploaded this tutorial:

So, are we equal now?

Well… Anyone can place bids on even terms. But….

A public message from another whale that got his hands on most of Batch #7, soon kicked off discussions among new and veteran Nxt users.

 

Speculation and over-thinking

Coincidence? Will leasing your NXT stake to a forging pool optimize your chances of getting an early stake in IGNIS? Could it be that connecting to 500 peers instead of the client’s default helps? How about hallmarking your node, will that give extra chances? How much does the size of the fee matter?

Well, let me be straight: About as much as the color of the shirt I wear matters.

Private discussion groups have been forming in Slack and all kind of mods and optimization tricks have been pulled off and tested, but no matter how hard anyone tries, the facts are hard to ignore:

bidji [9:20 AM]

basically luck

Scor2k, developer of NxtBridge and NxtBridge-OFFLINE:

I tweaked nxt.properties to connect to many more nodes than default, and also set it to broadcast transactions to like 50 nodes instead of default 20.

# Maximum number of outbound connections.
nxt.maxNumberOfOutboundConnections=100

# Maintain active connections with at least that many peers.
nxt.maxNumberOfConnectedPublicPeers=75

apenzl [1:02 PM]

Were you forging or was your account balance leased to a forging account?

scor2k [1:03 PM]

No )))

The number of Nxt nodes is growing, Nxtwiki sees new visitors; driven by a monetary incentive crypto investors are learning about the Nxt technology, not just the coin, which will be the backbone of Ignis and the Ardor Platform. And so, they begin to understand Nxt’s features (mind you, most crypto ICO’s usually sell tickets to not-existing technology – Nxt has been running stable and been improved upon by world-class developers for almost 4 years).

This is good.

By learning about the NRS client and server they grasp the power of Nxt, Ignis, and Ardor.

IGNIS logo

forkedchain [9:39 PM]

it appears that MAAC was splitting his NXT into orders with 400.000 NXT in each

napdude [9:43 PM]

MAAC risked tons of nxt to get his fills in the last many rows

 

“This shit project will not exist next year”!

Oh yes, it will. We must emphasize something, though:

Nxt’s powerful ‘Smart Transactions’ (inbuilt smart contracts) are only as smart as the people using them! Some people get desperate or make transactions too fast without knowing what they do.

Then they get angry.

PLEASE DO NOT PLAY AROUND WITH FEATURES YOU DON’T UNDERSTAND!

A few ICO adventurers have tried to take shortcuts but ended up worse than they started.

Some have bought JLRDA look-a-like currencies from the Monetary Exchange, fake JLRDA assets on the Nxt AE or the Nxt Marketplace, despite all warnings. One new user managed to broadcast a phased transaction to himself, which has locked his NXT for 7 days, using advanced functionality in the client.

One new user managed to broadcast a phased transaction to himself, which has locked his NXT for 7 days, using advanced functionality in the client.

That’s “learning the hard way”. One can react sanely, or by simply crying “shit ICO you bad take my money”, frown publicly upon Nxt, Ignis, Ardor, Jelurida – and about everything from the 1 NXT transaction fees to – understandably – not being able to get in at this very early point of the ICO.

Most though has found the ICO setup ingenious.

The adrenaline!!!!

Yes, IGNIS will be traded on exchanges eventually, and ICO participants may or may not (well, we won’t give trading advice here) make a fortune from their early investment, but what Jelurida is selling are operational tokens, the access to the first child chain of the Ardor Blockchain Platform.

Don’t fall for scammers

An old scam trick on the Nxt blockchain is sending out teasers in the form of tokens, for example, an asset issued for 1000 NXT but worth a lot more if the scammer succeeds, so he sends it to NXT accounts, it’s like ads on blockchain, an airdrop of assets which he hopes will make Nxt users think: Wow. Is this what I’m looking for? I’ll buy more!

No you won’t. Delete the assets or just let them be.

scor2k [10:34 AM]

May the forge be with you (c)


IGNIS ICO Report 2

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 the full Nxt client. It’s a race to get in, sure. Back hurts from leaning forward towards the screen, eyes burn from staring without blinking, and personally, I burned my dinner in the oven because I didn’t dare to leave the computer within the ICO time frame. And I wasn’t even among the lucky 69. Transaction sent, the fee goes to forgers, try again if you want.

Only 5M of the ICO tokens are released in each batch in this Round 1, so maybe it’s better to wait. It’s just that… buying IGNIS for 0.4 NXT per token would be pretty nice, right.

What’s next?

Kristina (Jelurida) gives us this update in nxtchat.Slack:

Dear Nxt community members, thank you for your contribution in the first 2 days of the IGNIS ICO!

We are carefully considering the feedback and we are looking into possible ways to ensure that all the Nxters and also newcomers can participate in the IGNIS crowdsale more easily.

We also recommend to everybody to configure their Nxt client as a full node to avoid overloading the public nodes.

Jelurida has started moving funds to Bittrex, which is one of the higher volume NXT exchanges.

As people are beginning to calm down now, lots of thoughts and research by both new and veteran Nxters is ongoing, about the method MAAC uses and – not least perhaps – how to copycat it.

Another piece to this puzzle came from MAAC himself, as he uploaded a second public message to the Nxt blockchain:

Now guess who forged the block with the 4th JLRDA bid offer and 1009 NXT in fees while at work? Ahem, yeah

Questions?

So, does all this mean that Jelurida is incapable of running a fair ICO on the platform they designed themselves? Will this be Nxt’s “bad distribution” issue all over again? Is MAAC a heartless attacker, a movie theater worker with great belief in the work of Jelurida or just a greedy whale? Will he succeed or can Jelurida exploit his methods and succeed in creating equal terms for all?

In the coming days, we will dig into this in much greater detail, and not least explain about IGNIS, and all the advantages of the revolutionary new Ardor platform.

The JLRDA release schedule is as posted from Jelurida, remember each one is a batch of 5 M tokens:

Aug 5th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 6th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 7th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 8th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 9th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 10th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC

The coin sale will last for months so do not worry if you are not able to participate immediately, there will be many opportunities to participate in the IGNIS ICO.

In addition to the ongoing ICO, approximately half of the IGNIS coins in existence will be distributed automatically to NXT holders based on their account balances at the time of the Ardor Genesis Snapshot, at 1 NXT = 0.5 IGNIS ratio.

 

IGNIS ICO Report 1

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.

1st round sold out in a flash


Live data from the Nxt blockchain

IGNIS logo

Boom – first round is over…

Eager participants from all around the globe were ready, eagerly staring at their desktop clients with the ICO window open in their NRS Client, excitedly building tension in Slack, ready to purchase.

And then…

The shock – as everyone realized that the first ICO round was over even before Jelurida’s exchange offer had hit the client GUI! The first 5M JLRDA tokens had been sucked up by a single whale in a flash.

1% of the JLRDA tokens available in the ICO had been sold without anyone even seeing the offer let alone having a chance to place their orders in the client!

What happened?

Take a look at the whale’s account.

https://nxtportal.org/accounts/11731960900805566730

Lots of phased transactions. Buy offers put into every block within the announced time frame of the first round, just waiting for his approval to be executed.

But how could he react so fast? One sound theory is that the buyer had a bot listening to the network and as soon as the exchange offer was put by Jelurida, still unconfirmed, he executed the transaction in that same block.

First reactions were harsh. From emotional accusations from disappointed users that the ICO round had to be an “inside job”, to conspiracy theories and sad claims that all IGNIS tokens most certainly would be sucked up by rich investors only, “just like in the fiat world”, hit the world wide web by storm.

And now, few hours before the next batch of 5M JLRDA tokens are to be released, we can only wait and prepare for our second chance to get in. No, “MAAC” did not play it fair in Round 1 but after all, he played it well AND played everybody by the rules of the tech. Rules that can be dug into by everybody, by the way.

Here’s a statement he made, sent from his phasing account:

Jelurida has released a schedule of the availability of the batches for the first round of JLRDA. 55 M tokens are left in 11 bins of 5 M, staggered by 12 hours to make it harder for whales (people with massive amounts of NXT) like MAAC to buy the entire amount.

The release schedule is as posted from Jelurida:

Aug 5th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 6th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 7th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 8th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 9th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 10th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC

In the coming hours and days, we will keep you posted about the progress of the ICO, as well as explain in much greater detail about IGNIS, Ardor, and all the advantages of this revolutionary new platform.

The coin sale will last for months so do not worry if you are not able to participate immediately, there will be many opportunities to participate.

Let’s see what happens. Meanwhile, the discussion is ongoing:
https://nxtforum.org/general-discussion/ignis-token-sale-progress/

In addition to the ongoing ICO, approximately half of the IGNIS coins in existence will be distributed automatically to NXT holders based on their account balances at the time of the Ardor Genesis Snapshot, at 1 NXT = 0.5 IGNIS ratio.

IGNIS ICO Report 2 >

Jelurida Announces New Details About the ICO

Earlier today, Jelurida, the development company behind Nxt and Ardor, has announced new details about the upcoming ICO on their website.

The Jelurida team is now happy to announce that the legal, technical and organizational preparations for the IGNIS ICO are entering their final stage. The ICO will start near the end of July or early August 2017 (exact date and time to be disclosed at least two weeks in advance).

After inquiries into the start date of the ICO have been asked by the community on a daily basis, this should hopefully bring some clarity now on how the rest of Q3 will shape up to be like, even if no exact date has been given yet.

 

NXT in the ICO

As mentioned in our earlier newsletter, Jelurida mentioned that NXT will be used in the ICO and that this was due to technical reasons. Now, with the announcement, we can see why this was chosen.

The token sale itself will be conducted on the Nxt blockchain platform. A “controllable currency” called JLRDA will be issued and offered for sale in several consecutive rounds.

Being a controllable currency, the JLRDA tokens will not be tradeable or transferable between user accounts. The purchased JLRDA currency units will only serve as a proof of ownership and initial IGNIS balance for the Ardor Genesis Snapshot.

Purchasing JLRDA tokens will require NXT, however users will be able to exchange other cryptocurrencies to NXT conveniently within the Nxt wallet using the integrated ShapeShift and Changelly third party exchanges, subject to availability.

For 1 JLRDA token the participants in the ICO will receive 1 IGNIS coin at the time of the Ardor Genesis Snapshot.

So, the IGNIS ICO will utilize the Monetary System feature of the Nxt blockchain, where a controllable currency called JLRDA will represent the IGNIS to be distributed when Ardor launches. Purchasing a controllable currency on Nxt directly requires NXT as the transactions are on the Nxt blockchain itself.

 

Ardor Genesis Snapshot

The announcement also shed some light on the snapshot date for NXT balances where 0.5 IGNIS is given for every NXT an account holds.

As already promised, approximately half of the IGNIS coins will be reserved and distributed automatically to the NXT holders based on their account balances at the time of the Ardor Genesis Snapshot, at 1 NXT = 0.5 IGNIS ratio.

The Ardor Genesis Snapshot will be performed at least two weeks after the end of the last JLRDA sale round.

However, since the exact date of the start of the ICO and the duration of the ICO are still unknown, we can only estimate when the Ardor Genesis snapshot will happen.

 

Important Notice

There have been some complaints on some channels in the community about false information being spread around, such as that the launch was supposed to happen on July 1st, despite multiple announcements for over a year that Q3 was when Ardor would launch, not necessarily July 1st. Because of this confusion, Jelurida was prompted to also state this in their announcement:

IMPORTANT NOTICE:
All official information regarding the IGNIS ICO will be published on this website only. If you receive information from other sources always make sure that it is consistent with this page.

While Nxter Magazine strives to provide the most accurate information, if any conflicting information is found on this website with Jelurida, please trust the content posted on Jelurida’s website as they are the development team and may have made some changes and we just did not get to update our content yet.

Source: https://www.jelurida.com/ico

NRS 1.11.4

Nxt Client (NRS) 1.11.4

THIS IS AN OLD RELEASE.

FOR THE LATEST NRS VERSION CHECK HERE

Digital signature: "Stichting NXT"

.sh Sha256:
5f8caea32c659c63580e68f61b2d666685f2e162e8d341aa1980abae0126028b  nxt-client-1.11.4.sh

Release 1.11.4: https://bitbucket.org/JeanLucPicard/nxt/downloads/nxt-client-1.11.4.zip

1.9.2 .zip sha256:
8e7d5115e1664ae70cc46ff2a9d914ed50052b4352bf8ce5bd76118d63c84817  nxt-client-1.11.4.zip

NRS 1.11.4 release notes

Added Node JS module, see html/www/js/README.

Minor UI and desktop application bugfixes, ported from Ardor.

Added About dialog.

Source: https://nxtforum.org/nrs-releases/nrs-v1-11-4/

Also, read:

Nxt Tutorials
ARDR on the /assethub
Nxt 2.0: Ardor child chain blockchain platform

Mobile app

The Nxt NRS Android app has been upgraded to Apache Cordova 6.5.0 and Cordova Android tools 6.1.2, API peer list has been refreshed.

Download link: https://bitbucket.org/JeanLucPicard/nxt/downloads/nxt-mobile-client-android-1.11.4.0.apk

sha256 hash: 465e57f932165d8cee9b49acb12af821572c50a0d8a302e22b66b940efad8abf

Source: https://nxtforum.org/index.php?topic=13331.msg230300#msg230300

Also, read about the core dev's mobile app @ Nxtwiki.org

The NRS (Nxt Reference Software) Client is the Nxt core developers’ official wallet release.

NRS is a locally hosted client server application. By default it downloads the Nxt blockchain, but from version 1.10.0e you can run it as a light client as well as a full node. To forge and earn forging fees from processing transactions on the network you must run the Nxt Client in full mode, which is possible even on small devices like laptops, or on a Raspberry Pi. There are also bounties for running public nodes.

The Nxt Client is easy to install. Use the 1-click installers for Linux, Mac and Windows or read this INSTALLATION GUIDE to launch the NRS .zip from terminal.

Jelurida Q&A – Nxt core devs mean business

On October 07, 2016, Damelon announced the incorporation of Jelurida BV, a new startup software development company consisting of Nxt core developers Jean-Luc, Riker and Nxt Foundation member, Damelon.

Jelurida BV, as holder of the intellectual property rights for the Nxt software and the Ardor platform, aims to create a sustainable and thriving business around the Nxt ecosystem by providing software licenses, maintenance, and services to a new breed of blockchain-based applications.

The ninja announcement of a “Nxt company”, and the fact that the lead developers of Nxt and Ardor were going to monetise their services and IP naturally sparked discussions in the Nxtchat Slack channel. Damelon posted a few answers, but asked the Nxt community to save their further questions for a Q&A session with the core developers, which was to be kicked off Sunday.

martis [2:09 PM]

so Nxt became a company?

Damelon answered (before the Q&A):

damelon [2:10 PM]
No, the devs are in a company now (including me, who is also on it). I am managing director. It’s a Holding with two separate BVs contained in it. There is a BV that holds the IP and a BV that is “active” and signs.

The main purpose is to ensure that the code is protected, and secondly licensing to generate a cash flow. The direct benefit is continuity and more possibilities to actually partner with companies. That benefits the community and holders. Even if licenses are sold for private chains, this means the devs are funded which means they can continue to work on the code without having to hold down other jobs. It also allows us to grow the developer pool with quality people which also benefits the code and users.

The way we want to create value for holders is by ensuring we deliver value in the form of the software and in attracting customers and users to the platform. It’s another step in professionalizing and it’s also a big step towards making sure Nxt and Ardor will be sustained into the future. The Nxt code is and still will be under GPL, so public chain use is not affected.

Also, this is about the IP mostly. The devs do not want to let the copyright out of their hands. Handing it over to the Foundation would leave them at the mercy of other people. Having it consolidated in their own company allows them to keep control in situations where it’s needed, like when licensing is involved.

The Q&A

The Q&A session took place in nxtchat.slack on October 09, 2016, 20:00-21:46.

This is a summary of the event. All questions about expected ups and downs in price and “how to use Ardor” have been removed from the summary. For a general FAQ about Ardor, the Ardor token ARDR, and Ignis distribution you can visit the FAQ thread on Reddit.

Now let’s get to it.

riker [8:05 PM]
Ready for Q&A guys ?

legs11 [8:06 PM]
yes

damelon [8:06 PM]
@channel The devs are here, so please shoot your questions.

Ardor

jean-luc
development is on track, but it takes time. schedule is unchanged for now. nothing has changed really in the project direction, or our plan for ardor.

riker
We feel good about the project direction and we do enjoy our work.

jean-luc
it is a challenge to keep the code simple. the code is based on Nxt, intentionally so that to minimize bugs, but I have started some refactoring which makes further merges from the 1.0 codebase harder.

Jelurida

jean-luc
Jelurida plans to make money from licensing, support, and consulting

legs11
Any chance of us buy into this company at this early stage ?

jean-luc
it is a private company, the general public can’t buy into it

durerus
Who owns how much percent of the company?

jean-luc
This information is confidential.

durerus
Can you describe what a paying customer would get?

riker
License to change the NXT core code for their purpose. License to use a private blockchain. Maintenance, support and consulting.

Many organizations will never use a public blockchain because of regulatory issue or confidentiality. We would like to get into the private blockchain niche

josenxt
Doesn’t ComeFromBeyond, for example, have anything to say about this?

jean-luc
CfB has written code under the MIT license only. The developers who have contributed code under the GPL have transferred their copyright to Jelurida.

as we speak, banks and financial companies are cloning Nxt and using it privately.
By getting them to pay for it, we plan to make future Nxt development self sustainable

apenzl
Which IP rights are Jelurida going to “protect”?

riker
People are currently copying NXT left and right, even if they want to pay for NXT they didn’t have whom to pay. If they don’t pay, we can now go after them. That what it means to protect our rights.

jean-luc
In the absence of a single legal entity which owns the copyright, it is hard to enforce the GPL, we have seen examples of it being violated by companies who know there is no one to sue them

conversely, if a company does want a commercial license, and is willing to pay for it, it is hard to do legally without a single legal entity that has the copyright, as the case was until now.

Jelurida for investors

durerus
So you wanna get into private blockchain niche. Can you tell us why this is good for investors in the tokens ARDR, NXT and IGNIS?

riker
We can use the funds we receive from private chains to promote the development of the public chain which will in turn provide marketing and public relation for NXT/Ardor and bring us more private chain business. We hope to obtain such eco-system which provide win-win situation both for the public token investors and private blockchain customers

kasp
it doesnt seem fair for the token holders honestly, lets say you are now investing 60% of DEV in private chains and earn decent revenue, how are devs still motivated to work on NXT/ardor + it will only slow down progress

riker
I think we have to realize that the current model of using community funds/donations to promote NXT does not work. This new model has much better chance.

Again we hope to generate positive feedback in which private blockchain profits are used to promote the public blockchain which in turn supports the private blockchain

bidji
Current system is not sustainable, dev need to earn money.

But i’m afraid the incentive to work on the public chain will be too low. Imagine you are successful and you have a lot of contracts to build private blockchains. Since you get paid for it you have to focus all your ressources on those contracts. What happen to the public blockchain in that time? it will be put aside. Basically there is a conflict of interest between successful public blockchain and successful private business. What do you think?

riker
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.

willtate
I think better public relations would go a long way to bringing in customers as well as new devs. Is any more activity in this department planned for the near-term?

riker
Yes, not sure we can share concrete plans at the moment. We’ll start with a website and all the marketing materials expected from a startup company

logan
Will you inform the community about new deals etc?

riker
As a private company we probably won’t share everything publicly. We may issue press releases on signed deals etc

vprf
If I am a company in need of a private chain. Why use NXT/Ardor/etc… over a different crypto?

riker
(1) POS is much better suited for private chain then POW
(2) You can develop in Java and not in some weird scripting lang (i.e. ETH)

vprf
Why not Lisk then if Java and POS?

riker
We have 2 years advantage and we have a more experienced dev team

vprf
I would rather deal with real people with real names. Just sayin’

riker
Jelurida has public directors listed in the Dutch trade registry. The identity of the actual developers has no significance the same way you don’t know who are Java developers but you trust Oracle to support Java.

Don’t you know Bas? Didn’t you watch my latest presentation?

wolffang
Will the private blockchains be made with nxt now and later with ardor blockchain or always nxt?

riker
For now private chains will be based on NXT of course. We will probably transition to Ardor when it’s stable enough

jean-luc
depends on demand, but Nxt 1.0 is tried and tested technology, and Ardor is an overkill to use as a private chain for a single company. Most of the Jelurida private blockchain customers would not need the complexity of Ardor, with its multiple child chains.

Hiring devs

almonte
Now that you have settled down a company, are you thinking about recruiting more developers in the near future?

jean-luc
yes, but it is a chicken and egg problem… hard to recruit developers until we have at least few paying customers

if we get serious demand for private chains, we would also get licensing fees and income that allows us to hire more developers

josenxt
How is Jelurida going to encourage new devs to join the development team when they know for sure that their work won’t be credited? Just for the money Jelurida will pay them? Will all the new devs be writing code for Jelurida and not for the Nxt community from now on?

riker
Jelurida intends to either pay salaries or give shares to compensate developers (perhaps both). Some of the code may be developed as closed source code and some will be shared with the community.

In the future there will millions of blockchains some public some private we want as many as possible to be based on NXT.

jean-luc
new developers after short training would be dedicated to support and feature development for private chains first, so that the more experienced core devs can focus on Ardor

Jelurida and the Nxt community

rubenbc
how is Jelurida going to support the community if it is a private company?

logan
I can see the Promotion effect of public chains for private chains.. but i dont see it for the other direction. Why should Ardor get more value if a Company will use the tech behind it? That makes no sense to me.

riker
I hope that Jelurida and the NXT foundation will share the profits

farl4bit
How do you encourage the community to continue to work as a volunteer knowing that their developers and the leader of the foundation may be working for private solutions?

riker
Would you like the devs to work for free or almost for free forever? Jelurida will work together with the community to advance NXT/Ardor and make it into a sustainable business

wolffang
What is the role of the community in this new situation? Can happen that People now leave that were good contributors. How to prevent it.

riker
Jelurida will open up doors for NXT activists to get real paying jobs in dev, consulting, support, training

josenxt
Would you like the rest of the Nxt community to work for free or almost for free forever AND FROM NOW ON to make bigger a private company like Jelurida? :point_left: It could be seen this way

riker
If Jelurida is successful there will plenty of funds to pay everyone.

Final words

josenxt
Will we see in 6 months from today another big surprise (like Jelurida’s) which is currently being cooked behind the scenes?

jean-luc
hopefully sooner

Wolffang
@riker when is the nxt mobile app release planned?

riker
It’s ready for initial testing but we want to get Jelurida and the Ardor token distribution first

riker [9:43 PM]
Enough for today ?

farl4bit [9:46 PM]
@riker @jean-luc Thanks very much! I am looking forward to more of these sessions.

And that’s it, folks.

You can sign up for the weekly newsletter here.

NXT-crypto-developer

For more Nxt & Ardor news, see: http://nxter.org/newsletters 

Nxt announces: ‘ARDOR’

Nxt-announces-ardor

ARDOR is brought to you by the core development team from Nxt. After years of building and testing the Nxt platform, the team is going to involve the public even more. As the first Blockchain 2.0 platform, the community has continually improved Nxt and now looks forward to release Ardor for companies, organizations, and of course, users.

ar•dor(ˈɑr dər) 
n.

1. great warmth of feeling; fervor.
2. intense devotion; zeal.
3. burning heat.

Also,esp. Brit., ar′dour.

The Nxt core dev team is letting anyone get into the blockchain space with a new child chain platform, ARDOR, which will incorporate the technologies proven for years by the Nxt 1.0 cryptocurrency and blockchain. Soon, anyone will be able to create their own solutions using the blockchain technology with the Ardor child chains.

Nxt is undergoing a dramatic evolution. Research by the Nxt team has led to Ardor, a platform that uses child chains and incorporates all of Nxt’s latest blockchain innovations while being backed by the core developers of Nxt. Ardor is more than just about money: It’s about making a blockchain platform that is open to everyone, from single users all the way up to FinTech startups and governments, and one where anyone can create their own child chain and interact with the whole blockchain ecosystem. That means anyone, anywhere, will be able to utilize blockchain services with relative ease.

We can’t give away too much until the final features of Ardor are tested repeatedly.

A few of the features coming with the new Ardor release:

Blockchain as a Service

Ardor will open blockchain development to organizations and individuals across the world. The high barriers to getting started with blockchain are about to vanish.

Manageable Blockchain Size

Ardor will solve the problem of scalability by separating transactions and data that do not affect security from those that do, and moving all of those that don’t affect security onto child chains. The Ardor team will create the first child chain to house many Nxt 1.0 tools as well as future features. This small size also comes with short transaction times so processes need only a fraction of time compared to Bitcoin to execute functions.

A Decentralized Asset Exchange

Building off of the Asset Exchange on Nxt, Ardor will enable the ability to trade assets on any child chain for any of the child chain tokens. This allows child chains to interact with each other and opens up numerous opportunities for collaboration as well as allow cross chain asset trading, a long-requested feature within the Nxt ecosystem.

Decentralized Voting and Governance Systems

Ardor will be at the core of decentralized consensus in the future. Secure and anonymous voting will be an available feature on all child chains as it is on the Nxt platform.

Phased Transactions

Users can set multiple conditions before a transaction is executed, such as a minimum number of votes and a set amount of time. Like Nxt, Ardor will use Smart Transactions. With this, users will only need to submit the parameters necessary for the transaction and the ID of the functionality they want to use. The transaction process is also completely decentralized. No centralized server, service, or application, like Ethereum’s Oracle, is needed.

“Rather than providing smart contracts, NXT is focused on implementing the important use cases and functions directly into the core of both Nxt and Ardor. This approach has proven to be scalable and secure and will become more so when Ardor is released” – Riker

These are a few of the things Ardor will give you and the cryptocurrency community. As development continues and testing is finalized, you’ll get a detailed analysis of each of the new tools, as well as the core features built into Ardor. We’ll also reveal, step-by-step, a list of our partners and what they’re doing with our technology.

This is all possible because of new developments within the Nxt community. Decision-making and planning is becoming more professionalized. The community and team structure are adjusting to the new demands while the Nxt and Ardor technology remains entirely open source. Ardor is more than a cryptocurrency – it’s a blockchain platform specifically designed to let anyone build decentralized tools with the latest innovations in blockchain technology.

How to get Ardor

You’ll be able to participate in Ardor right away. As Ardor continues testing and development, Nxt 1.9 will be released. With Nxt 1.9, you’ll get your first chance to own a piece of Ardor. All those who hold an amount of NXT will also get a piece of Ardor. Snapshots will start be taken on an hourly basis, starting on July 14th to October 12th. Then, your total NXT will be averaged, and you’ll receive that amount in Ardor tokens on October 12th, which will be freely tradeable up until the Ardor system launches.

At block 1,000,000 on October 12th, 2016, snapshotting will stop, and you’ll be allowed to trade your Ardor tokens in NXT 1.9 in preparation for the launch of the Ardor blockchain.

After Ardor has launched, Nxt 1.0 will remain active and supported. Nxt 1.0 is the giant on which Ardor is built and it will remain running as a core component of the Nxt eco-system, functioning as a complete blockchain solution in its own right, as well as assisting in the development and refinement of the Ardor blockchain platform.

There’ll be a lot more news in the weeks and months to come. Ardor aims to be a powerful platform for users and businesses alike by building on the technology pioneered by Bitcoin and Nxt. If you would like to be a part of it, acquire NXT now and get your stake in ARDOR!

Source: https://nxtforum.org/core-development-announcements/(ann)-ardor-or-nxt-2-0-a-scalable-child-chain-platform/

Will Bitcoin be Worth Over $500 by 2016

Recent Poll: Almost 50% of People Believe Bitcoin Will be Worth Over $500 by 2016

Expert analysis suggests that Bitcoin’s price potential for next year will surpass its highest points during 2014 and 2015. It has been forecasted that the digital currency’s value will end at around $500 this year.

Based on a recent poll by CoinDesk, it revealed that almost half of the respondents (48%) believe that Bitcoins will be valued at more than $400 by next year. But, some 33% were also hopeful to see it rise to around $501-$1,000 before the end of this year.

From January’s depreciation to below $200, the price of Bitcoin trading jumped by more than $410 this month. It is notable, but still far from its historical high of around $1,150.

More reasons for Bitcoin’s increased value

The same report also noted some of the main reasons for the possible increase in value of the virtual currency. Here are the top reasons for Bitcoin’s increased value in 2016:
• Surge in capital control in China
• A slew of positive news stories from the mainstream media
• Switching interest from Blockchain to Bitcoin
• Continued investments and adoption from industry companies
• Exemption from value-added tax (VAT) especially in Europe
• Launch of Bitcoin exchange Gemini in New York

However, some 27.4 % also said they are not certain what had caused the price movement or the recent increase in the price of Bitcoin. Economist Brendan O’Connor mentioned in an interview with CNBC that he felt the rumors about “international rings of traders teaming up to drive up the exchange rate,” could have substance although he was unable to confirm the rumor was 100% true.

Going mainstream?

Bitcoin is now gaining strong traction from consumers and businesses alike. Big brands such as Dell Computers and The United Way have integrated the digital currency in to their business payment processes.

Slowly but surely, Bitcoin is going mainstream, yet it still remains in a decentralized currency status. No single entity, corporation, or government holds or affects the virtual currency’s price.

Contrary to most assumptions and rumors, it seems unlikely that Bitcoin will replace physical currencies or lead to its extinction.

“History shows that it’s unlikely that more traditional physical forms of currency will disappear as humans have shown a fundamental desire for a physical means of trade,” as written on FXCM’s The History of Currency. “But at the same time, developments have shown that individuals and societies will seek ever-widening definitions for the concept of “currency” to increase the economic efficiency and advantages obtained from trading.”

Though, Bitcoin is still seeing growth worldwide. Although there are other digital currencies being used for trade and exchange, they are not all accepted by merchants and nowhere near as popular as Bitcoin.

Bitcoin ATM worldwide
There are a growing number of Bitcoin ATMs in operation worldwide (more than 400 operating terminals), helping drive its popularity and use of the digital currency. But a financial software strategist believes that the trend is ‘unlikely to last in its current form.’

Devon Watson, vice president of global software company, said that these ATM terminals have relied so far on a ‘flawed distribution model.’ The current Bitcoin ATMs are said to offer advantages to small markets, but are unlikely to succeed in a competitive one.

“[Bitcoin ATMs] provide only one benefit to the customer, whereas the majority of ATMs have a number of different possible transactions and meet a number of needs,” said Watson in an interview this year.

Watson’s company is still investigating the full capability of Bitcoin ATMs in the consumer market. Should the need arise in the future, he believes providers will be able to cope up with the demand. However, currently they are still assessing “when it might make sense and how.”

IMAGES:
Photo Credit: btckeychain via Compfight cc

NXT to power a full economic ecosystem

nxt-nautuluscoin-greece-cryptocurrency

Today a press release from Nautiluscoin announces the launch of a full economic ecosystem, built on the Nxt blockchain. The launch event of the Drachmae Ecosystem will take place on September 26, 2015.  Furthermore, Brian Kelly Capital (BKCM LLC) will be making a seed investment in a new entity that will deploy this ecosystem globally, first targeting developing micro-economies in Latin America and Africa.

“We are pleased to announce that we have formally joined forces with the Drachmae Project and have developed a full economic ecosystem for the island of Agistri”, Nautiluscoin writes. “This ecosystem includes a fully functional mobile banking system, a B2B ecommerce platform, and a travel-booking site, all fueled by Nautiluscoin. This ecosystem will be rolled out on the Greek island of Agistri on September 26, 2015.

We are providing the tools for the municipality and businesses of Agistri to investigate ways of generating new revenue via our blockchain-based ecosystem. Businesses will be able to save money via the B2B platform by connecting directly with suppliers, while at the same time offering discounts to travellers via the travel platform. Powered by Nautiluscoin, the ecosystem will offer efficiency and simplicity, providing tourists with a simple one-stop shop for all aspects of booking a holiday.

We are focused on the end users of the currency – the businesses, citizens and visitors – this is our community. This proof of concept will illustrate how digital currencies and blockchain technology can benefit a community. To that end, the communtity in Agistri will be actively involved in the project and will share ownership and revenue from the Drachmae Project.

The mission of the Nautiluscoin project is to use digital currency and blockchain technology to bring money into an economy. While digital currencies have been successful at providing a means to remove capital from an economy, few have successfully shown that adoption and use can drive economic growth – the Nautiluscoin project is about to change this.[sharing tagline=”” tagline_color=”” title=”” link=”http://test.nxter.org/?p=11118″ description=”” pinterest_image=”http://test.nxter.org/wp-content/uploads/2015/09/nxt-nautuluscoin-greece-cryptocurrency.png” icons_boxed=”” icons_boxed_radius=”4px” box_colors=”” icon_colors=”” tooltip_placement=”” backgroundcolor=”” class=”” id=””][/sharing]

 

Coin Swap

The Drachmae Ecosystem has been built using the NXT Platform and Nautiluscoin will soon be swapped onto the NXT monetary system. We have chosen NXT because of its superior technical capabilities, security and community support. The business orientation of the NXT community will be the foundation on which we build our ecosystem.

The NXT Foundation will be assisting with the coin swap that will commence on September 18, 2015. We will post the coin swap instructions on Bitcoin Talk on Wednesday, September 16, 2015 and the offical commencement will be announced via Nautilsucoin’s Twitter account.

The NXT Foundation will also be assisting with the structure and the operation of the Nautiluscoin community, which includes the businesses and citizens of Agistri who wish to join the project. This project would not have been possible without the expertise and support of the NXT Foundation. The NXT team and Foundation have been integral to realizing this opportunity to utilise the power of blockchain technology.

The Launch Event

The September 26, 2015 launch of the Drachmae Ecosystem will include a community barbecue where the Nautiluscoin airdrop will formally take place. Each citizen that attends will be given €100worth of Nautiluscoin to spend at the barbecue and local businesses. As well, members of the press will be given €100 worth of Nautiluscoin.

We will also be hosting a Hackathon event for developers to explore our blockchain ecosystem and create apps. We encourage anyone with an interest in blockchain technology to develop apps that can solve real world problems for the community. We will be hosting up to 40 developers to join in this first of its kind Hackathon in Greece. We are also extending an open invitation to companies and government organisations to visit and observe the event.

The launch event will be capped off with a televised fashion show featuring professional models wearing GetNauti gear. We have hired a camera crew to be on island for the launch event to capture this historic moment. This fashion show is a pre-shooting for the Athena Model TV Show that will be hosted on Agistri in 2016.

We are excited to bring this revolutionary technology to Agistri and are grateful for the foresight of the Mayor, local businesses and citizens. This will be the first time an entire economic ecosystem has been experimented and deployed and we are looking forward to this historic event.

Brian Kelly Capital Investment

The ecosystem that will be deployed is both scalable and efficient, making it suitable for multiple use cases. In parallel with the Drachmae launch on Agistri, Brian Kelly Capital (BKCM LLC) will be making a seed investment in a new entity that will deploy this ecosystem globally. The new entity will license and implement new blockchain based economic ecosystems similar to the Drachmae Project. Currently, the entity anticipates targeting developing micro-economies in Latin America and Africa.

Commenting on the investment, Brian Kelly said, “With this technology we can deploy a fully functioning economic ecosystem which includes a banking system, a commerce platform and a currency. We are excited to be a part of this revolution.”

The new entity will be focused on deploying this technology to other countries, municipalities or organizations that need a fully functioning micro-economy.”

Also read: Nxt – the economy platform for everybody

FinTech Asia trend vote on the Nxt Blockchain

The 29th July was Demo Day for FinTech Startups in Singapore. The biggest event in Asia of its kind!

[fusion_youtube id=”-qa1fIQi_SY?” width=”” height=”” autoplay=”false” api_params=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=””][/fusion_youtube]

During the course of the day Roberto Capodieci of DeBuNe gave a number of presentations  and organised, through Open Trade Docs, a survey of the audience via the Nxt blockchain.

Survey Results:

Q. Which 2 areas should be next in FinTech?

A. Blockchain (25 votes) and Wealth Management (21 votes).

Q. What is missing in the FinTech ecosystems in South East Asia?

A. [Top 2 answers] Cultural change in large institutions to allow innovation (34 votes); improved regulatory frameworks (24 votes).

And here’s the most important result of all from the survey: the number of first time blockchain users (specifically Nxt blockchain users) in the world has increased!

Roberto writes:

As it would have been impossible on the day to have arranged for the participants each to have their own funded and activated Nxt accounts so that they could cast their vote using the Nxt voting system, we instead created a wrapper with a PHP application, and used a single account that sent the votes as messages to itself, and another app that counted the votes.

Users accessed the app either via mobile by scanning a QR code or simply by going to http://demoday.live.otdocs.com

It really wasn’t meant to demonstrate a secure method of voting, but rather to take people who had never used a blockchain before for a micro ride into this world, to trigger their curiosity and desire to learn, and maybe kill the “fear of the unknown” that stops so many from getting started with crypto platforms.

The results of the votes can be seen here: http://demoday.live.otdocs.com/#/results

And the last transactions (so people could see the votes recorded on the blockchain as they happened) are visible here: http://demoday.live.otdocs.com/#/transactions

FINtech.bootcamp.july2015

Fun fact supplied by m19 of Nxt Forum:

The guy in the front [2nd from left – click pic to enlarge] is Sajid Javid, Secretary of State for Business, Innovation and Skills from the UK.

Hopefully, Mr Javid will have attended one of Roberto’s presentations and learned for himself how the OTDocs system can remove the potential for international trade finance documentation to be misused in fraudulent schemes that cost businesses around the world billions every year.

……………………………………..

Further Information

‘OTDocs is a license fee free Open Source software tool that provides a platform for certification and compliance to online identities and documents as a mean to facilitate document management and process, respect privacy, and prevent international trade finance frauds.’

Press Kit

Newsletter

The Viral Exchange joins SuperNET

viral.exchange.large

The Viral Exchange (TVE), project-led by Killakem (founder of Fibre coin and also project leader of Blitz), has just been announced as a SuperNET official partner.

TVE enables users to promote their websites and social media presence whilst earning NXT, Bitcoin and Blitz for their social interactions on all the major social networks.

TVE is the first social exchange platform that allows users to cash out points to digital currencies.

Killakem writes:

The Viral Exchange (TVE) is a next generation social exchange with the goal of monetising social network activity via the blockchain.

TVE is a free social exchange network which helps businesses increase their social network presence and drive users to their websites. The exchange system is very simple: every time a user likes, follows, or views another member’s social media page they receive Viral Points which can then be used to get more followers, likes, views or visitors to their own website or social media pages. The Viral Exchange is the first social exchange platform that allows users to cash out points to digital currencies. Users can earn Bitcoin, NXT and Blitz with their Facebook, Twitter, Google+, YouTube plus many more.

The Viral Exchange is now a SuperNET official partner! TVE will be helping to raise awareness of SuperNET inside and outside of crypto, while also providing free marketing on the platform and exposure through our press releases. TVE will also utilize InstantDEX for automated user withdrawals once its ready and we will be integrating SuperNETs innovative technology with TVE wherever possible.

Version 2 of TVE is currently in beta testing and 100 Blitz is being offered for every new bug found (cosmetic bugs not included).

To find out more, join the Bitalize channel on Slack.

TVE is being redeveloped from scratch, the new platform will utilize an MVC Architecture providing an extensive API. Moreover, the NXT Monetary system will be used as part of our Proof Of Reserve system, this will give users, marketers and asset holders complete visibility of the purchases and withdrawals on The Viral Exchange. Asset holders will not need to rely on the information we give them: all deposits and withdrawals will be publicly available on the blockchain.

[Source: TVE Business Plan]

Working closely with NXtInspect, TVE has recently relaunched its Nxt Asset. ID: 10848741160900045194.

The NxtHacks Hackathon 2015

NxtHacks

Fame and fortune awaits!

This is an all-comers challenge issued by Jones.

Using any programming language or library you like, can you build a fully functioning App using the Nxt API in just 48 hours?

To sign up for the competition and to join the NxtHacks’ mailing list: http://jnxt.org/nxthacks.

Nxt is the fastest developing, open source, second-generation cryptocurrency platform.

For a complete listing of all available Nxt API calls: http://jnxt.org:7876/test

To find out the latest news and views about the NxtHacks Hackathon and to contact Jones himself, join the #nxthacks channel on Supernet Slack

Competition Rules

1.   Entrants may use any programming language or library they wish (e.g. C, Javascript, Node.js, PhP, Python, Java) to build an App for whatever purpose using the Nxt Api.

2.   Entries will be judged by the Nxt community on:

 

  • Completeness (i.e. is the App fully functional?)
  • Style.
  • Usefulness.

3.   The App programming work should only take place between midnight Friday 31 July and midnight Sunday 2 August.

4.   Developers may submit as many entries as they wish but in practice, given the 48 hour time limit, it’s not expected that anyone will submit more than one…

5.   …especially since no team working is allowed – each App submitted must be the exclusive work of a developer working on their own!

Prizes

1st place: 40’000 NXT
2nd place: 20’000 NXT
3rd place: 10’000 NXT

And a place in Nxt history as the winners of the inaugural NxtHacks Hackathon!

———————-

Further information:

http://www.peerexplorer.com/

(‘PeerExplorer is your gateway for Nxt infrastructure. Be a part of building the world’s most advanced decentralised open-source platform. Feel free to use the API. Don’t know what Nxt is? Take a look here!‘)

http://www.thenxtwiki.org/wiki/For_Programmers

http://nxtinside.org/whats-nxt/

Nxt Source Code

Introducing: NxtVault

NxtVault is an open source Android application, which stores your Nxt passphrases encrypted in isolated secure storage. You will never need to enter your Nxt passphrase again, and you will no longer be at risk of viruses or keyloggers infecting your machine. Not only is it encrypted but Android’s security sandbox prevents other processes on your device from accessing the apps’ isolated storage.

After three bad attempts at entering your pin you will be locked out for 1 hour. Another bad attempt and you are locked out for 24 hours. Another bad attempt and the application will wipe out all of its data and shut down.

NxtVault is built on top of Jones’ “Jay Framework”, a javascript library created to interface with the Nxt network using dynamically discovered public nodes, allowing for the creation of our first suite of Nxt thin clients that don’t rely on a single developers centralized server!

Let’s make this even simpler:

NxtVault pincode NxtVault transactions NxtVault account 

NxtVault add account NxtVault view account NxtVault setting

For every web transaction, NxtVault pops up and displays a detailed report of exactly what the transaction intends to do, giving you a chance to review and then either confirm or deny it. The goal of the developer isn’t hard to grasp: ‘To have every third party web application support this type of transaction’.

NxtVault can be downloaded here: https://play.google.com/store/apps/details?id=jay.nxtvault

Using NxtVault with JayClient

NxtVault supports the ability to scan a qr code of a JayClient transaction.

Read more about the Jay Client.

Jay includes http://jnxt.org/jayex/ which enables you to watch and trade your Nxt assets from a web browser; transactions are secured by the Jay framework and/or NxtVault.

Jones:

JayEX is allowing for a Nxt AE trading with the security of the localhost NRS client, the inspiration of SecureAE, and the chart ideas and layout idea from Poloniex.’

The full Nxt NRS Client is available at http://jnxt.org/nxt/ as a website (and a downloadable .zip to host locally, if you prefer). Update: The jnxt.org site and the Jay Client + framework is no longer maintained. The source code can be downloaded from https://github.com/jonesnxt/

Nxt JayNxt NRS Client
Sign in with your Nxt account, not your secret passphrase.

Nxt Jaywallet NRS
Do what you like.

Nxt Jaywallet transaction tx
Send your tx’s by scanning the qr code with NxtVault, or sign it with the Jay localhost client on your desktop. 

Nxt Android apps on top of NxtVault

NxtVault developer, mr_e, writes:

Other Android applications can raise an intent to NxtVault to request for it to sign and broadcast transactions on it’s behalf. I have created an API so that Android developers can create third party applications that are not required to be open source, nor will you need to worry about trusting them with your passphrase!

NxtVault can handle both signing the transaction, and broadcasting the transaction to light nodes that are detected on the network, in a decentralized way.

I hope that this will unleash a whole new suite of trustless android apps.

The NxtVault source code has been reviewed by Jones. https://github.com/mr-e-/NxtVault

To integrate NxtVault, you need to implement its intents (i.e. the messaging objects used to request an action from another app component).

There are three key intents you can raise for NxtVault to pick up:

nxtvault.intent.action.REQUESTACCOUNT (request an access token along with the users nxt address – this will pop up nxtvault allowing the user to select an account to share)

nxtvault.intent.action.SIGNANDBROADCAST (signs transaction and broadcast – will pop up a transaction summary screen allowing user to confirm)

nxtvault.intent.action.SIGN (signs transaction and returns bytes to calling application – will pop up a transaction summary screen allowing user to confirm)

An example of how to raise these intents and respond to their results is located in the code base here:
https://github.com/mr-e-/NxtVault/tree/master/nxtvaultClientLib/src/main/java/com/nxt/nxtvaultclientlib/nxtvault

You can add nxtvault client lib as a library to your project. This gives you a JavaScript interface for all jay calls, as well as the code to raise the correct intents.

Click on the link below for the Jay interface and look at the test wallet to see how they are called: (the jinterface is using interop with javascript and will allow you to make any NRS request to a public node. With this you can make calls to getAccount, getAsset etc without needing a centralized server of your own)
https://github.com/mr-e-/NxtVault/tree/master/nxtvaultClientLib/src/main/java/com/nxt/nxtvaultclientlib/jay

For more info + to talk to mr_e:
https://nxtforum.org/general-discussion/unveiling-the-new-nxtvault-secure-account-management-for-android-devices!-beta/new

First example of fully decentralized crowdfunding: Nxt Academy

Let’s actively bring Nxt into every university and school all over the world!

Crowdfunding usually needs three actors: the project initiator, supporters and a platform connecting both parties. Crowdfunding websites exist only for 6 years. During 2013 $5.1 billion USD was raised by millions of individuals! However the biggest disincentive to using websites such as Kickstarter is their fees. Kickstarter demands 5% of the money raised as a fee, and payment processing fees are another 5%, which in the era of blockchain technology is a little difficult to justify.

Nxt recently released a new monetary system with a crowdfunding feature, which makes a third party – a platform – fully automatic and decentralized. Since January 2015 it’s finally been possible to organize a crowdfunding campaign via the Nxt client with all costs and fees totalling less than a half USD.

The very first example of a completely decentralized Crowd funding via Nxt Monetary System started at the beginning of February 2014, when a Czech Nxter, Petr K. Salsa, issued a currency: NxtAcademy with ACDMY as a code.

500,000 NXT (= 500 units) need to be raised during February in order to successfully finish the crowd funding campaign. If 500 units aren’t bought before block 370,000 (= 1st March 2015), all pledged NXT will be returned. If at least 500 units are bought, the funds raised will be used for maintaining Nxt Academy (= at least 1000 USD/month). More funds = more projects for students, more lectures all over the world, more external teachers, more printed materials.

How to donate?

  • Click at Monetary System + Currencies section
  • Find ACDMY / NxtAcademy (search “ACDMY”)
  • Click at “Reserve” at the “Actions” column.

nxt-crowdfunding-nrs1

  • Buy any number of “Units” (more = better)

nxt-crowdfunding-nrs2

Details and other info: http://nxtacademy.com/about

crowdfunding-nxt-academy

Nxt is an important part of the open source technology. Nxt Academy recognizes Nxt’s spirit and guarantees all content accessible for anyone, anywhere, for free. It is a long term project which focuses on providing free education for the students and children. Every teacher will be able to download and use teaching materials for their students. Everyone will be able to attend free online courses about Nxt from their home. Young people, as yet completely unaware even of the existence of cryptocurrency,  will be informed about Nxt via school bulletin boards and via lectures and student projects organized at their school.

The world of cryptocurrencies has got a huge enemy – ignorance. Society isn’t yet ready for the wider acceptance of the cryptocurrencies. Nxt will in time revolutionize many industries, but right now it is just a toy for geeks. Nxt Academy is going to prepare society for the Nxt crypto revolution by providing teaching materials and much more. Nxt Academy isn’t a commercial project, its existence, form and size depends on donations from the Nxt community.

Direct marketing to Students – education

Nxt Academy isn’t only a passive website with videos and texts. It actively propagates Nxt at schools, universities and student festivals. Nxt Academy will be targeting all bigger Universities and sending its materials to their students. Students will be working on team projects with their classmates, while Nxters will be mentoring them.

Teachers will be receiving teaching materials, infographics, textbooks and worksheets for children, they could even teach young kids about Nxt. It will be easy to download all sources and printed materials will be sent to the schools or handed out after the speeches / lectures at the schools and universities.

Online Marketing and Cooperation

All content created by the Nxt Academy will be actively distributed to the other similar projects – Khan Academy, Coursera, Coin Academy, College Cryptocurrency Network… It’s about spreading the knowledge, Nxt Academy will try to have its courses at all of those sites and many others.

Nxt Academy will be targeting people whose lives are as yet untouched by the cryptocurrencies at various online platforms. Nxt Academy provides press releases, news, blog posts, Twitter/Facebook/Weibo posts, forum posts, videos at multiple platforms… SEO, online marketing etc.

Nxt Academy will be supporting the crypto research

The database of the research/students papers will be very helpful for all cryptocurrency researchers. This side project will create a library with crypto-related articles saved at multiple platforms. With enough funds, Nxt Academy could provide student scholarships, grants or awards. The dream goal is to have a crypto thesis of the year contest during the Nxt Academy conference.

Online courses and textbooks

Before entering the Universities’ or Student festivals, Nxt Academy needs to prepare the teaching materials.

Online courses – Easy-to-use platform for everyone who will be able to learn about Nxt, its ecosystem, its ideas, its abilities. New fresh videos and edited videos will be followed by chosen articles and infographics.

Textbooks – If we want to get cryptocurrencies and Nxt into the mainstream, we need to prepare educational materials for teachers. Textbooks will be created by a cooperation with university professors and school teachers.

Worksheets – Children as well should have the chance to learn about the cryptocurrencies. We need to prepare the world for this new revolution. Worksheets, educational programs for children will be prepared by a cooperation with the school teachers.

Infographics – Social media campaigns need well-prepared infographics to reach the biggest audience.

Check other activities at https://nxtforum.org/nxt-academy/ or http://nxtacademy.com

Crowdfunding Progress

After two weeks Nxt Academy raised 120,000 NXT. 35 Nxters decided to support the project with their donations. It is also possible to donate directly, you can send NXT to: NXT-W4FQ-JGAE-JHS9-3PMNR (from online wallets, exchanges…).

Salsacz can devote himself full time to the project, hire an ‘in-house’ co-worker (school teacher), external university teachers and pay for outsourcing micro-jobs (translations, voice-overs, corrections) via Nxt-jobs or Fiverr. All costs are very low, because the salaries in Czech Republic (1 full time and 1 part time) are very low compared to western countries. The smallest possible budget is 500,000 NXT for a year. More money = more projects for students, external coworkers, printed materials, more speeches…

Nxt Academy is a project supervised by Petr Salsa, who has spoken about Nxt at 5 conferences and one University. A few other speeches at Economics Universities are being planned for the near future. Salsa attended all of the online courses about cryptocurrencies, such as “Introduction to Digital Currencies” by University of Nicosia, Coin Academy, Coursera, Princeton University and University of Virginia. He wants to devote his experience, skills and time to build similar courses about Nxt.

More about the Nxt Academy team: http://nxtacademy.com/about/#team

With Nxt Monetary System anyone can run a decentralized crowdfunding campaign.
Learn more about the Monetary System here: http://test.nxter.org/nxt-core-monetary-system/

NxtLite client

nxtlite

Blockchainless NRS

Getting started with Nxt and the powerful Nxt NRS Client just got a whole lot easier for newcomers.

NxtLite makes it very easy for ‘normal’ users to run the NRS GUI; Simply download it, click on the icon in the start menu and start using Nxt. No console windows, no Java, no browser urls, no blockchain download. Nxtlite supports single node and multi node blockchain-less functions.

Slothbag writes:

It’s 100% the same code as NRS GUI. Any new features in NRS will be available in NxtLite as quickly as I can recompile the installer and upload.

All tx signing happens in the client/browser just like NRS, so the only thing you can’t do is forge, because that requires the server knowing your secret key. NxtLite uses PeerExplorer for peers, but eventually it could use the same peer finding that NRS uses to discover new peers on its own.

NxtLite has possibility to integrate with Nxt Trezor project using lower level OS functionality.

NxtLite is cross platform software.

Older windows may need to have the latest DirectX runtimes installed, if they haven’t been already; on Windows 8, NxtLite works right out of the box.  For Linux and OSX, you will need to install mono – it’s a download and a few clicks: http://www.mono-project.com/download/. Once it’s done you don’t have to worry about it again.

Download

Nxtlite:
https://github.com/slothbag/NxtLite/releases

Nxtlite0

Run it

Select mode:

The initial mode selection screen is the only thing changed from the NRS client.
You can change your settings from the login screen later. Normal users should choose “Multi node”.

nxtlite1

Slothbag:

Single Node

You type in the address of one node you own/trust. You’ll get the NRS GUI 100% unchanged connecting to whatever IP address you specified.

Why? Run a headless, console NRS node on one machine, enjoy the GUI in a native app on your desktop.

Multi Node

The app will download all the open API nodes from PeerExplorer and route each individual NRS API command to the next public node in the list.  This means you can now use a 90% functional NRS GUI without needing to run a full blockchain node. (No forging)

Why 90% functional? Because some of the local node specific screens like Update checks, fork checks and NRS state info don’t make sense in multinode mode.

Use it

Find guides in the “GET STARTED” top menu link.
One to get you started with the NRS: http://test.nxter.org/nxt-client-interface-guide/.

nrs-nxtlite

NxtLite updates will be announced in this Nxtforum thread:
https://nxtforum.org/general-discussion/(ann)-nxtlite/msg161593/#new

Show the developer some love

Slothbag (whose other Nxt related work also includes a p2p DNS solution for the Hyperboria network) made this NxtLite client for you. His Nxt account ID is NXT-3S9K-NZLR-W7H8-HR8DW. Just saying.

This article is also available in French.

The value of 10 NXTs

Introduction

What is the value of 10 NXTs?, you may ask. This article might give you an answer. Let’s start off with a short dialog though.

“What is the value of $10?”, the teacher asked his class. “$10, of course”, a student responded quickly.

“Try to explain it without using $10”, so the student rethinks and replies with a grin: “10 times $1, right?” But the teacher is still not satisfied: “Well, what is the value of $1 then?”

Another student joins in the discussion: “$10 is worth whatever you can buy with them”.

For one thing, this short conversation illustrates the fallacy which many people fall for when they try to understand what the value of their assets and disposable income is; for another, it succinctly shows the way in which people commonly understand the value of a monetary unit, for example the US Dollar: the value of $1 simply being the amount of goods and services one can get in exchange for $1 (in other words: its purchasing power).

One might then ask: how do you measure the value of a dollar? The simple but unsatisfying answer is: it’s the amount of goods and services you can buy with it. A more complicated, but equally unsatisfying answer (because of its reliance on other artificial constructs), involves exchange rates, Treasury notes and foreign exchange reserves. The value of the US Dollar, like any fiat currency, therefore depends on factors seemingly far removed from people’s lives. For the reasons put forward in the next section, it remains difficult to understand the real everyday value represented by the US Dollar even if one uses it many times each day.

Goods and Services

One big problem with using goods and services to demonstrate the value of a fiat currency is their lack of interchangeability: whereas one dollar bill is entirely interchangeable with any other dollar bill, different goods and services (although they may cost the same) are not of course interchangeable. This lack of interchangeability makes it impossible to ascertain whether, say, 10 bottles of beer (purchased for $10) is a better or worse measure of fiat value than, say, 5 loaves of bread (also purchased for $10). In effect this is the same issue facing government statisticians who have to choose which items to include in the average consumer’s notional shopping basket for the purpose of measuring changes in a country’s consumer prices index.

A related problem is that the precise nature of numbers gives an appearance of certainty to things which don’t actually possess it. Thus, people fail to understand either the real value of $10 or the real value of ‘5 loaves of bread’ which are in practice both as imprecise as each other: dollar bills, although they are interchangeable, have no intrinsic value in themselves, only in terms of what they can buy; however, the things that can be bought with dollar bills, although they do of course have intrinsic value in themselves, are not interchangeable and therefore have no dependable utility as a measure of value.

The lack of preciseness can be ascribed to the lack of a measuring tool which serves in a replicable way to measure the value of something no matter where, when and by whom it is bought and sold. The nearest thing available is the market price expressed in units of fiat currency. However, the market price of something is not necessarily the same as its value. Although an important indicator of value, the market price only tells us the minimum amount that people are prepared to pay, but not the maximum amount (i.e. their willingness to pay). Moreover, due to external factors, under- or overvaluation might occur – i.e. short term prices may be too low or too high compared with the long term average.

The need for a measuring tool, as described above, would quickly become evident were you to go into a grocery shop and ask the price of something. Such a question would definitely produce different answers depending on whether the shop was located in North America or in Asia (leaving aside the question of conversion rates). Repeating this experiment 10 years from now would also result in different outcomes. Furthermore, businesses adjust the prices of their products to better meet the requirements of their trading partners or customers on a deal to deal basis.

Given that observation, we can ask the question how are prices created and how do they change? That is a field of ongoing study which is outside of the scope of this article. Prices are the result of complex social interactions, political considerations, emotions and even the technological progress. In the remaining part of this article, we will discuss what the value of a NXT is.

Transactions

When using the Nxt platform, all you need are NXTs. You can buy goods and services on the Nxt Marketplace, you can buy assets on the Asset Exchange, you can buy brands, cast votes and much more and all you need to have are NXTs. Those tokens are the default currency unit of the economy platform: Nxt. With them, you can buy a variety of native Nxt objects as well as user-generated content, products and services. However, we still have the same imprecise definition of the value of 10 NXTs as we have with $10.

There is, though, another element that plays an important part in helping to determine the value of one NXT. NXTs are not only relevant to pricing goods and services but also to paying for transactions. Transactions are the most basic native objects you can buy with your NXTs. They are and will be omnipresent in the Nxt platform. At the time of writing, 1 NXT is worth 1 transaction (in most cases). Thus, the value of 10 NXTs is the ability to buy 10 standard transactions, like those described above. That basically means if you have n NXTs in your wallet, you can buy n transactions from the network.

We can describe an experiment to measure the price of a transaction in Nxt. The price for a transaction – also called a fee – has a minimum at which the network accepts the transaction. It is encoded in the social contract enforced by the Nxt network and its current implementation can be found at the repository. This experiment can be repeated irrespective of who you are or where you are. It can only change over time if the network agrees to change. From this point of view, the minimum transaction fee is the most equal and transparent price we have; independent of your location and yourself.

Given that tool, we can now measure how much a good or a service on the Nxt Markeplace is worth in terms of transactions. When we pay somebody 25 NXTs for his service, we are in effect enabling him to perform 25 further transactions and we can do 25 transactions less than we could before.

When analyzing the calculation of the minimum transaction fee, one can recognize a correlation between the minimum fee and the size of the transaction. However, the correlation does not apply whilst, as is currently the case, the relevant coefficient is set to zero. It is assumed that in future versions of the Nxt protocol, the network will decide to raise this coefficient in order to better reflect the actual expenditure of verifying and propagating transactions of a specific type through the network. Still, the process of price setting is visible and verifiable and equal among all people using Nxt. There are many possibilities regarding how to agree on these coefficients and other constants which make up the minimum fee. However, this is a problem which needs to be addressed in another article.

Conclusion

value-of-nxt

Each NXT represents the ability to buy exactly one standard transaction which gives us a precise tool to measure how much worth a good or a service would be. Instead of asking how many NXTs does it cost, you might equally well ask: if I buy this good or service how many fewer transactions will I be able to carry out (i.e. how many transaction performances will it cost me)? Similarly, the seller, instead of asking how much NXT can I get for this good or service can just as well ask: if I sell this good or service, how many more transactions will I be able to carry out (i.e. how many transaction performances is my good or service worth)?

Thus, 10 NXTs are worth 10 transaction performances or the goods and services you can get for them in exchange.

This article is also available in French.

Nxt [CORE]: Marketplace

Nxt Marketplace (formerly known as the Digital Goods Store, or DGS) is a decentralized mall created for buying and selling digital goods. Like the Asset Exchange, it is built into the Nxt client and enables direct peer-to-peer trading. Although it was designed for buying and selling digital merchandise – music, ebooks, software, and so on – physical items have also been listed for sale.

marketplace

The Marketplace was a planned feature from the start, detailed by Nxt creator BCNext before Nxt was launched. As BCNext remarked, the workflow is relatively simple:

1] A developer sends a message describing a product (it’s stored on the blockchain).
2] A user sends a payment to the developer’s account.
3] The developer sends an encrypted message with a link or a code (stored on the blockchain as well).
4] The user decrypts the message and uses the code to unlock premium in the application. *

Key points

1] Developer publishes their account on their webpage to prove they are the legitimate owner (or uses Reputation System of NXT).
2] All actions are public and can be audited (the encrypted message can be audited if one of the parties reveals the key).
3] Only transaction fees are charged, 100% profit goes to the developer.
4] No one can shut the store down nor they can DDoS it.

(* Note: ‘to unlock premium in the application’ means, in effect: to obtain the product).

Nxt’s decentralised Marketplace was released at block 210,000, on 1 August 2014.

Using the Marketplace

marketplace_mystore

Now, large parts of the workflow described by BCNext have been automized in the NRS client.

You can list your digital (or physical) goods with ease, set a price, change or cancel the listings if you wish, and communicate safely with your customers through encrypted private messages on the Nxt blockchain. Costs are limited to the transaction fee and the cost of exchanging messages (both currently 1 NXT). Listing and selling goods through the Marketplace is free, except for transaction fees.

Buyers are able to search goods by issuer ID (account), item name or by tag (category). Buyers can set an order expiration date, and also leave private or public feedback after receiving the product.

There is a video tutorial available here.

3rd party use cases

The launch of Nxt Marketplace was met with great enthusiasm in the Nxt Community, but since then relatively little community energy has gone into developing it further. There are few user-friendly solutions (like Secureae.com for the Nxt Asset Exchange).

Melodius.me is the most promising announcement so far.

Due in Q1 of 2015, Melodius is a website for independent artists, built on top of the Nxt Marketplace. A partnership with crypto exchange CCEDK allows users to buy and sell their music, concert tickets, merchandise and shares not only with cryptocurrency (NXT and BTC) but also with fiat money in their local currency.

This significantly enhances the buying process, since Nxt remains very much in the background. The attraction for indie artists is the low commission fees; whilst iTunes and Google Play take substantial percentages of artists’ sales, Melodius charges only the standard transaction fees required by Nxt Marketplace. Every penny earned goes directly to the artist. Interestingly, the CEO of CCEDK, Ronny Boesing, worked in the music industry for many years, selling music around the world for major brands. His partnership with Melodius brings together two areas of interest and expertise.

A possible concern with having a decentralized and unregulated global marketplace may be that it attracts people seeking to circumvent the laws of their particular country. Nxt has chosen not to censor goods, but 3rd party sites like Melodius.me can easily filter listings according to their niche, their users’ choices or their local laws.

When buying and selling goods online there is, as in the real world, a chance of getting scammed. There are far too many sad stories about people (and not all of them anonymous) in the crypto world who turned out to be scammers. The solution is to be on your guard at all times, preferably only deal with people you know, always do your due diligence and, if possible, use a trusted escrow for larger transactions.

Concorde_Logo

There is currently no escrow or reputation system implemented in the Nxt core (Reputation System is a feature planned for future development), but a solution for 3rd party clients or websites could be to implement CONCORDE, the escrow system developed by blackyblack, which is currently being tested on Nxt Testnet. Concorde will be included in the next release of FreeMarket, a 3rd party marketplace built on top of Nxt’s Arbitrary Message feature, but can be integrated into any Nxt system.

If you you want to help with the testing, make yourself known in this thread: https://nxtforum.org/freemarket/ann-concorde/, where further information about how Concorde works can also be found. Concorde is open-source and a direct download link can be found in Concorde’s nxtforum thread. As blackyblack writes:

‘It is an escrow system opened for all NXT users. Feel free to build your own projects on top of it or use for your daily needs.’

Conclusion

At present, Nxt Marketplace is being used, but mostly through the Nxt NRS Client. It remains a hidden gem of Nxt: an almost undiscovered secret, ready to be put to wider use.

A few listing sites are available, which detail all the goods for sale on Nxt Marketplace; users can see and search the goods, but everything must still be bought and sold with a Nxt Client. An example of such a listing site is http://jnxt.org/market/.

The goods sold are up to the imagination of the sellers. A house has been put up for sale, ebooks and articles are sold, domains, oil paintings, screensavers, a NXT faucet organised (NXT-55AK-82KK-DK3Q-6U4RN), crowdfunding has been attempted, NXT node operation services arranged (NXT-9TNK-QXJ6-YPMY-32CTA), NXT lapel pins (NXT-WBFF-3UMJ-RMLD-7VWS4) are available, even home-made maple syrup is offered (118670936523580125). Also, Nxter.org has its own store, NXTER STORE (NXT-EAVH-SLEV-KSEE-EE2KP).

The low fees and decentralized nature of Nxt Marketplace mean that it can solve real problems, not least for writers, musicians, developers and other digital content creators. Nxt Marketplace can easily be made the backbone of an app store, a decentralized crypto exchange, a subscription-based payment system for magazines, game updates, or even a full-featured crowdfunding platform. Only the imagination of the developer – or the business ordering the use case – sets the limits.

As one new Nxt developer wrote in early March 2014, ‘This [Nxt] is almost like building with lego bricks again’ – this person ended up coding SuperNET.

Nxt Marketplace is only one of the Nxt [CORE] features available.

Read other articles from the Nxt [CORE] article series.

Also see: Nxt – The Economy Platform – Usecases for everybody