November 2016 (III)
Here, we bring you some of the latest news about Nxt over this past week in November
NXT IN THE MEDIA
- Nxt Folks – The Next Step
- Entrepreneur Podcast Network – Investing in Bitcoin and Blockchain Technology
- EUREM 2016 – First Blockchain Hackaton in Moldova
- NXT on the Exchanges – How to integrate it
- Nxt 2.0 child chains – Not a Sharding Scheme
- Tipper Service – Version 0.1
- Janus Token – Questions and Answers
- Snapshot – Collector’s Edition
- Ardor Guide – Reaches 500 Followers
Below, we give you more details about these news:
NXT IN THE MEDIA
NXT Folks – The Next Step
re-issues an article previously published in 2014, a time when the author was very excited about the potential of blockchain technology and the social implications that this technology would bring with it. The article details the several issues that the Bitcoin was going to face if it was going to be used massively as a coin. The text also goes over the great features that Nxt has which solves some of the previously exposed problems which are inherent to other PoW and PoS coins.
It’s amazing to see how, after two years have passed, many of the initial objectives that Bitcoin and other blockchains were hunting at that time have been abandoned or changed towards other ones – a clear signal that this technology is still very much in its early stage and has a long way ahead.
Entrepreneur Podcast Network – Investing in Bitcoin and Blockchain Technology
This article explains how the cryptocoins markets are attracting attention of different kinds of speculators, some of whom are without an adequate background, who come to these markets distracted by siren calls by many testimonials who assert having won big amounts of money in short periods of time.
However, the text recalls the risks of operating in such volatile markets, where big oscillations in the price of coins usually take place. These markets aren’t backed by any government, nor are covered by government insurance programs. Besides this, in many of these coins, especially the ones with smaller market caps, tokens are staked by a small group of speculators who are able to move the price up and down at their will, usually in order to improve their profits.
The author also details some of the amazing features that Nxt, a blockchain 2.0 platform, has, that when Ardor is launched, will be available to businesses when issuing their own child chains. This way, unlike most crypto coins out there, it will become a full-featured platform and not just another coin as Nxt technology could be used for a wide variety of real life applications in business.
EUREM 2016 – First Blokchain Hackaton in Moldova
Lee Gibson Grant of the Drachmae project, together with the Academy of Economic Studies of Moldova will hold a Blockchain Hackathon on the 24th of November, 2016, within the congress EUREM 2016. This Hackathon that will take place in Moldova will use the tools and features provided by the Nxt blokchain. Topics for the Hackathon are based on four categories to be presented to judges and technology demonstration: Digital Identity, E-Governance, Financial inclusion and Economic stimulation.
The Academy of Economic Studies of Moldova, is organizing on November 24 – 25, 2016, the International Jean Monnet EUREM 2016 Conference “Modern issues of EU’s development and relations between EU and Republic of Moldova”.
…in order to assess how technologies can help Moldova to better integrate into European and global networks, within the EUREM 2016 Conference the following events are organized by Drachmae Project to present introductory workshops for blockchain technology to EUREM Attendees.
Setting up such a big event requires a lot of time and involving many parties and people. That’s the reason why Lee has made the following call to the members of the Nxt Community who are able and willing to help:
Source and more information: https://nxtchat.slack.com/archives/general/p1479319871012219
NXT on the Exchanges – How to integrate it
All the information and steps required in order to integrate NXT in exchanges has been recently added into the Nxt Wiki. This document will only become a final document just after a thorough review has taken place.
This new entry intends to make it as easy as possible for exchanges so that users can buy and sell NXT/ARDR on their platforms.
Nxt 2.0 Child chains – Not a Sharding Scheme
Last week, we mentioned that Riker, a Nxt core developer, considered Nxt, ETH, Bitcoin, etc. as examples of blockchains that can’t grow indefinitely. When Vitalik Buterin, Ethereum core developer, was asked about it by one of his followers, he stated on Reddit:
“The NXT 2.0 design last time I reviewed it still requires all nodes to either process all transactions or store all data, so it’s not a full sharding scheme.”
However, the Nxt 2.0 roadmap (a document which, obviously, Vitalik hasn’t had time to read), states that this is not about setting up a sharding scheme, but pruning unneeded data once a certain time has passed.
Riker said at Nxtforum:
In NXT 2.0 all nodes still process all transactions but only store the last 24 hours of each child chain.
However, we should have the ability to separate each child chain into it’s own subnet of nodes, so that only the Ardor chain transactions are validated by all nodes.
Recall that each child chain block becomes ChildChainBlock transaction on the Ardor chain so the potential savings is in the ratio of 1:100 or more.
I tried to learn about Ethereum sharding but only found 20 minutes of mostly hand waving presentation by Vitalik https://www.youtube.com/watch?v=-QIt3mKLIYU from which I learn that the blockchain will be separated into “shards” and then magically using a lot of “Merkle contracts” and “Merkle proofs” and “Async contracts” it would somehow allow transactions between these shards, if anyone understands this better I’ll be happy to learn more and compare this to our clearly explained NXT 2.0 roadmap.
I also found a semi-deserted github repository https://github.com/ethereum/EIPs/issues/53 in which Vitalik further explains his vision. This seems to be more of a vision then a real design document.
And it doesn’t look that Ethereum made serious progress on this since the concept was introduced last year.
Did anyone see a clearly defined Ethereum 2.0 roadmap?
Source and more information: Nxt news – November 2016 (II): Don’t be a magician – be magic!
Tipper Service – Version 0.1
- Blockchain backup. Tip bot can now automatically back up each user’s account information in encrypted form on the Nxt data cloud by setting the config key blockchainBackup to true. This will require 1 NXT per created account. In return all you ever need to store is the masterkey, and you will be able to restore all data in the event of a hard disk failure.
This is currently being used on Nxtchat and the data can be seen in the NXT client under data cloud and tag “tipbotdata”.
- Moniker support for assets & MS currencies. For example, by giving the ARDR asset monikers “Ardor” and “NXT2.0” you can use those names for tipping as well as ARDR.
- List command. Lists all assets and MS currencies currently supported by the tip bot, as well as their monikers and a link to Nxtportal for further information.
- Tip & withdraw using Nxt id. Added ability to tip & withdraw assets / MS currencies using their respective Nxt id in addition to their name and monikers.
- Balance command lists all assets/currencies. Balance command now also show unsupported assets / ms currencies. That means if your Nxt account owns an asset that is not supported by the tip bot, it was previously not shown. Now it will show up, with a warning saying it is an unsupported asset.
- Withdraw unsupported assets & currencies. Withdraw command can now be used to withdraw unsupported assets / ms currencies. However only by using their respective NXT id. For example:
“withdraw NXT-4TTB-QL93-SS6H-BW3GX 5 12071612744977229797”
- Bugfix. I have been hunting down a bug which caused the bot to crash on *nix systems for many weeks now and I believe I have found it and fixed it. The problem is however intermittent and does not happen in my development environment, so only time will tell if I really nailed it this time. crossing fingers
I still consider this beta software, so please only use small amounts when depositing.
In the event of funds getting lost due to a bug I will personally repay you, but only if it is reasonable small amounts.
Max 1000 NXT per account.
Source and more information: https://nxtforum.org/nxt-projects/nxttipbot-for-slack/msg227540/#msg227540
Janus Token – Questions and Answers
The Janus team has been mentioned in an article at BTCmanager.com. In this interview Robert Gasch, Janu’s Director of Technology, gives new details about this project. Robert also takes advantage of the situation to thank the Nxt Foundation for the assistance given in order to properly launch this business on the Nxt platform.
Janus has also published a Q&A with questions about the project from the Nxt Community:
We have been collecting questions from the Janus community on Slack, Twitter, Google+, and a number of forums to bring some information together in a single location. If you are curious about the Janus project please look over this document
Those of you who want to participate in the ICO have to register at janustoken.com. That webpage details all the information about this new asset and the terms and conditions for the ICO.
Riker, Nxt core developer, congratulated the Janus team for its website:
Hi guys, just registered in your web site. Very sleek design and everything works as it should, including 2FA. Well done.
In the near future, we intend to interview some of Janus members at Nxter.org and ask them some key questions about the project.
Source and more information: https://janustoken.com
Snapshot – Collector’s Edition
The publisher Plaisir d’histoire has just received in its warehouse 200 copies of the collector’s edition of Snapshot, the first book about Nxt.
115 books were funded during the crowdfunding campaing that took place a few months ago. The 85 books left will be sold on Nxt’s Marketplace. There’s also an unlimited digital edition that can be bought in different platforms. Each of the books are given a unique serial number by hand.
And naturally, the book number one is earmarked for BCNext, the creator of the platform.
Ardor Guide – Reaches 500 Followers
Our collegues at Ardor Guide just broke 500 followers on Twitter in record time. Not bad at all for this page dedicated to a platform ,Ardor, which isn’t expected to be launched until the second half of 2017.
— Ardor Guide (@ArdorGuide) November 13, 2016
Weekly NXT/ARDR Price Evolution
The following graphic shows the NXT / Bitcoin exchange price at Poloniex for this past week:
The following graphic shows the ARDR / Bitcoin exchange price at Poloniex for this past week: