February 2017 (IV)
Here’s some of the latest news about Nxt over this past week in February:
NXT COMMUNITY
- Adel – Established as an LLC
- BlockShow Europe 2017 – Last Call for Tickets
- Roberto Capodieci – Speaker At the 5th Supply Chain Finance Summit
DEVELOPMENT
NXT IN THE MEDIA
- Decentralized Revolution – Blockchain Applications That Are Not Bitcoin
- Adel – Why We Chose Nxt
- SteemIt – Exponential Data Growth Could Push any Blockchain Into Centralization
- Crypto Compare – How To Mine Nxt
- Due – Blockchain Keeps Moving Forward as More Innovators Jump In
PRICE EVOLUTION
Here below are more details about each of these:
NXT COMMUNITY
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Adel – Established as an LLC
Adel’s team, the community-powered startup incubator that focuses on blockchain technology, has recently announced that it is going to create a Limited Liability Company to meet all of the legal and tax issues stemming from the Anti-Money Laundering and the Countering the Financing of Terrorism Code (2015). As a direct consequence of setting up this complex legal structure, the start of the ICO process is going to be delayed for 2 months.
Nxter.org was one of the first media outlets to cover this piece of news in this article where Arthur Penzl gave us his opinion about this change:
To me, as potential investor, this is good news, worth a 2 months delay.
Others may disagree and can air their counter opinions in the comments field.
But, we all know it. If cryptocurrency technologies and blockchain ICO’s are to ever gain mainstream adoption, there’s no other way but to leave the grey zone behind, legally register, and comply with all regulatory and legal requirements including KYC/AML policies. I wish Adel good luck with that – many eyes will undoubtedly be on them.
Creating an LLC will further allow Adel to have the necessary legal structure to protect the brand, investors, and the whole ecosystem. The team also hopes that this step they are taking will set an example for future ICOs.
Source and more information: nxtforum.org/adel/(ann)-(adl)-adel-startup-incubator-for-blockchain-innovation/msg228060/#msg228060
bitcointalk.org/index.php?topic=1706282.0
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BlockShow Europe 2017 – Last Call for Tickets
There are just a few tickets left for the BlockShow Europe 2017, which will take place in Munich on the 6th of April this year. If you want to take part in one of the most important events in the blockchain ecosystem and meet some recognized members of the Nxt community, you should hurry up and buy your tickets before they are gone!
Remember that you can get a 20% off the price when buying your ticket by entering the promotional code NXTMUNICH.
There are only 6 tickets left with the 20% rebate for Nxt attendees and only 10 tickets left in total, according to CoinTelegraph, so do NOT hesitate if you want to attend this great event!
In our previous newsletter, Dave Pearce, board member of the Nxt Foundation, who is going to represent the Foundation at this event, asked for some community members to help create some promotional materials about Nxt and Ardor for distribution among the attendants or for display at the booth itself. So, now you know, if you have some time and energy to help the Nxt community, this is a good time for you to contribute some of your time.
Source and more information: nxter.org/only-few-blockshow-europe-tickets-left-get-yours-with-a-20-rebate/
Channel #ctblockshow on NxtChat on Slack (Link to join https://nxtchat.herokuapp.com )
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Roberto Capodieci – Speaker At the 5th Supply Chain Finance Summit
Roberto Capodieci, DeBuNe‘s CEO and partner of the Nxt Foundation, will be a speaker at the 5th Supply Chain Finance Summit in Singapore. This event is organized by the ICC Academy, which is part of the Paris International Chamber of Commerce, the biggest business organization in the world, which has 100 years of experience in supporting the growth of the private sector.
This event is one of the most important in its field and aims to have a variety of important audience members such as: financial institutions, multilateral development banks & export credit agencies, government organizations, independent financiers, insurance brokers and underwriters, lawyers and consultants, Fintech companies, service providers, etc.
‘Trade Finance and Blockchain’ presented by Roberto Capodieci, CEO at OTDocs.com, and CTO at Digital Billions
It’s also worth noting that on the 14th of February, Roberto also gave a masterclass titled Open Blockchain Platform for Trade and Supply Chain at the 2nd Annual Supply Chain Finance and its Alternatives conference, which also took place in Singapore.
Source and more information: https://twitter.com/TheICCAcademy/status/835076474143023106
https://scfsingapore.icc.academy/
Interview with Roberto Capodieci
DEVELOPMENT
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Jupiter – New Blockchain Based on Nxt Technology
Steven Grove, aka Sigwo, founder of the Darcrus platform, has announced the future launch of the Jupiter platform, a new customized blockchain created with the support of Jelurida, the corporation that brings together the developers of both the Nxt and Ardor platforms. Jupiter is going to be the new private blockchain that will sustain Sigwo Technologies LLC, an ambitious project that will create a secure, decentralized, and effective system to store and encrypt your data.
This is what Steven says about Jupiter’s features and the reasons why they want to use a private blockchain based on Nxt:
I’ve been testing on NXT’s testnet for 2 months, validating my design of decentrally storing and encrypting syslog/authorization messages from my Linux servers. In my testing, I found increased fees were needed to be paid due to the complex nature and size of my messages. After consulting with the NXT Core Devs, Sigwo Technologies will be securing it’s own blockchain for building the future platform…
..The reason behind creating Jupiter is simple… Using any other blockchain would not be economically feasible. One example of my encrypted syslog application would create 29 million messages daily. In NXT terms and today’s prices, that would cost this particular business $1,238,300.00 per day to store messages..
…Jelurida is the company building Jupiter and have a proposed delivery date of March 10th, 2017. In this time I will be starting plugins (dappsheets) to showcase the flexibility of Jupiter while I wait. I still test on the Nxt testnet for now. Jupiter will have non-tradable tokens that are included in software packages to create transactions and store the data on the blockchain. After a time period, tokens are recycled to the businesses to continue their use of Jupiter and it’s plugins. Data is always theirs, as simply having the passphrase will unlock all the data stored. The recycling period is akin to a subscription and support package.
Source and more information: https://blog.darcr.us/february-update-c32bb0946c48#.uzm8f9r4c
NXT IN THE MEDIA
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Decentralized Revolution – Blockchain Applications That Are Not Bitcoin
The concept of colored coins in Bitcoin has been the catalyst for new crypto platforms that go beyond just money transfers. In this article published on Decentralized Revolution, Kareem Audi gives a short overview of three blockchain platforms that, in his view, have big advantages over Bitcoin, such as Nxt.
Nxt… packs powerful developer tools to create your own decentralized apps, it also has an internal marketplace, much like eBay… it has its own decentralized voting system, and it’s own decentralized storage with more features being rolled out constantly… ARDOR is just one
Source and more information: http://www.decentralizedrevolution.com/blockchain-applications-nxt-storj-steemit/
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Adel – Why We Chose Nxt
Gabriel Dusil, co-founder of Adel, runs his own blog where he publishes some of the latest news about the Adel ecosystem. One of the latest entries includes a reference to the 6th white paper published by the Adel team titled Maintaining Integrity, where some of the basic principles of this community-based ecosystem are described, and how it can use cryptocurrencies in a sustainable and profitable way to fund projects.
The State is the People & the People are the State
With this premise in mind, and after extensive research and evaluation, this white paper goes over the reasons why they chose Nxt and Ardor technology to support its infrastructure.
Adel decided to build on the Nxt platform – a blockchain with features that expand the functionality of pioneering cryptocurrencies such as Bitcoin. These features include Shuffling, Voting, Aliases, and Phasing. The source code for Nxt has also been publicly disclosed, optimized, and perfected using (among other techniques) the Error Propagation Method, where the investigation and awarded discovery of deliberately inserted errors serves to help audit the source code itself.
Adel will move to Ardor, the multi-chain development of Nxt, in late 2017. Like Nxt, Ardor will have features that enhance the functionality of blockchain technology, making it an ideal platform for future projects. The Ardor child chain architecture will allow for the easy creation of a dependent blockchain that will be connected to and secured by the main Ardor blockchain. Ardor also solves scalability issues with a pruning feature so that future nodes will only download and keep transaction records on the main chain, as well as child chain transactions from the past 24 hours. However, it is still possible for child chain transactions to be kept, if so desired, with the use of an archival node that keeps all of the transaction records. This scalability is one of the ‘Holy Grails’ of cryptocurrency and blockchain development.
Nxt has already revolutionized the world of blockchain technology platforms by providing groundbreaking cryptocurrency features, as well as a powerful, modular toolset to build innovative business opportunities. All of Nxt’s functionality will be present in the Ardor platform, in addition to the advanced features (such as global scalability) that the Ardor multi-chain architecture will provide.
The Nxt platform has all the tools needed to successfully manage an asset. Moreover, Ardor lets you have your own personalized blockchain (child chain), which is secured by the Ardor decentralized network. Adel knows all these advantages, and that’s the reason why they intend to be one of the first to benefit from Ardor:
Adel will move to Ardor… Ardor will have features that enhance the functionality of blockchain technology, making it an ideal platform for future projects. The Ardor child chain architecture will allow for the easy creation of a dependent blockchain that will be connected to and secured by the main Ardor blockchain. Ardor also solves scalability issues with a pruning feature so that future nodes will only download and keep transaction records on the main chain, as well as child chain transactions from the past 24 hours. However, it is still possible for child chain transactions to be kept, if so desired, with the use of an archival node that keeps all of the transaction records. This scalability is one of the ‘Holy Grails’ of cryptocurrency and blockchain development.
Source and more information: https://dusil.com/2017/02/17/adel-white-paper-maintaining-integrity/
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SteemIt – Exponential Data Growth Could Push Any Blockchain Into Centralization
Oaldamster, author of this article on SteemIt, strongly believes that blockchain technology will become mainstream this year. More and more events related to this technology is taking place, such as the recent blockchain hackaton organized at Groningen, where 50 teams from 11 different countries showed their projects.
Doing some mathematical calculations, the author explains that the block size problem in Bitcoin and how, in his opinion, increasing the size of the block is far from being an ideal solution. The article also talks about Nxt’s Monetary System and how easy it is to launch your own asset on this platform. The author also mentions how Ardor is going to try to solve the problem of blockchain bloat using data pruning to keep the size of the blockchain controlled.
At its current state and the exponential data growth speed it seems almost inevitable that most mainstream accepted blockchains will become more or less centralized
Ardor will be the first fully decentralized platform that will use data pruning to reduce the blockchain bloat problem, thus allowing improved scalability with the child chain infrastructure.
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Crypto Compare – How To Mine Nxt
This article published at Crypto Compare goes over the resources necessary to run a Proof-of-Work blockchain system, such as: buying expensive mining equipment, extensive hardware knowledge, and hours of dedicated work and patience. The author then explains the differences with Proof-of-Stake platforms like Nxt, the first one to use this algorithm entirely.
Below, you can also find a step-by-step tutorial with images where any user can learn how to start forging Nxt by themselves.
In order to accommodate users that want to participate in the mining consensus, but don’t want to fill their house with hot and loud equipment or bet in a Cloud mining contract, we are going to show you how to mine (forge) NXT. Let’s call this a guide for miners who don’t want to get their hands dirty!
We’d also like to remind advanced users with additional skills that we also previously published a tutorial about setting up a Nxt node on a Raspberry Pi 2. In addition, Megalodon’s campaign, The Forging Bounty Lottery, is still running. So, whenever you generate a block, you won’t only receive the forging fees, but also some extra NXT coming from this campaign.
Source and more information: https://www.cryptocompare.com/mining/guides/how-to-mine-nxt/
The Forging Bounty Lottery campaign
How To: Set up a Nxt node on a Raspberry Pi 2
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Due – Blockchain Keeps Moving Forward as More Innovators Jump In
Miranda Marquit explains, in this blog post published at Due, some of the reasons why blockchain technology is growing in popularity and how more and more entrepreneurs are focusing their attention on blockchain projects such as Nxt.
The author goes over some of the current features of Nxt and how Ardor will add more to it to make it even easier and safer for everyone to make blockchain even more widely used:
Nxt has a… multi-step functionality built in, requiring parties to agree to certain conditions before completing transactions. That way, it’s possible to verify work before sending payment. On top of that, Ardor also allows automatic transactions, making it easier to set up recurring payments.
Source: https://due.com/blog/blockchain-keeps-moving-forward/
PRICE EVOLUTION
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Weekly NXT/ARDR Price Evolution
The following graphic shows the NXT / Bitcoin exchange price at Poloniex over this past week:
The following graphic shows the ARDR / Bitcoin exchange price at Poloniex over this past week: