IGNIS Airdrop

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

What is Going On?

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

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

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

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

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

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

NXT and IGNIS

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

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

Jean-Luc explained:

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

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

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

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

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

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

Smart Blockchain

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

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

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

Use Cases

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

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

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

Bitswift:

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

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

Dan Charbonneau, CEO of CBT Nuggets:

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

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

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

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

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

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

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

Adel:

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

So, What Is Next?

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

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

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

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

Exchanges

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

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

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

UPDATE: These exchanges have announced support of the airdrop

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

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

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

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

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

 

nxter.org/assethub

 

Nxt assets “Under the Knife”

To date, almost 800+ assets have been issued on the Nxt Asset Exchange (AE) since it was launched less than 3 years ago, as the first implementation of the coloured coin concept in crypto.

Some assets have gained magnificent market cap, in some periods even outperforming its reference currency, NXT. While others have been issued as experiments and some have, unfortunately, been scams.

The Nxt AE has been running secure and stable during all this time and continues to impress issuers and users with its advanced built-in features. In the Nxt Client, you can easily search for assets by their unique asset ID – but how can you find these IDs? You can trawl through asset threads on nxtforum.org or you can check an asset list on a Nxt Blockchain explorer.

That’s it. Because to this date, we have not had any service or central hub dedicated to rating, describing, or warning against fake assets.

How to find the good assets?

On the AE there’s no built-in hand holding. No regulation, no government protection, as it’s a 100% decentralised global asset market. There is no built-in KYC registration (such can be implemented on Ardor child chains), so investments and trades made on the AE are based on whether you trust the issuer / business or not.

Do your due diligence. Investigate. Ask questions to the issuer.

Experienced AE traders know this. Asset issuers should be aware of it too and go a long way to provide details and quality answers to their potential backers. But, let’s be honest, more than a few asset issuers got shocked by the community’s “guilty until proven trustworthy” approach, felt attacked, and ran off from NxtForum, after going in there full of energy and ideas, pitching their most promising project in an [ANN] thread, combined with a well-prepared business model (or not!), and possibly even a 100% working product to give ROI to their investors – if only they’ll back the startup.

While some campaigners may have only spent minutes on writing their pitch (and, thus, will be ignored), others have worked hard for months, or even years, on their business idea or software before finally seeking funds.

In both cases, the campaigners will be questioned, thoroughly, about their personal backstory as well as their business plan and product or service offering. If there are obvious holes in the issuers’ plans, it will show, and critical questions, and thus, judgement from the masses might not always come out politely in such cases. Wise asset issuers / campaigners thank the community for the free consultation and up their game and announce the necessary changes to the plan. Or, they defend their plan because it’s well thought through and fine. Campaigners would know if such a response was successful or not through the follow-up feedback from the community.

Either way, the process is tough on issuers. Some feel confident, others humiliated or trolled. Some give good answers while others can’t handle the stress and finally answer back aggressively. Unfortunately, then they lose out.

This is bad for investors. Not if the asset was a scam, of course, but unfortunately it isn’t always so.

So back to the question: how to pick the good assets – and avoid the bad?

[ANN] Nxt Assets “Under the Knife”

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In a new interview series hosted on Nxter.org, I will approach asset issuers with questions that are relevant to AE investors. I won’t be soft. Thus the title for the article series: “Under the Knife”.

Issuers will get an opportunity to read the article before it gets published. This is to give them a chance to make changes to their approach instead of having potential flaws revealed out in the open, on the oh-so-never-forgetting internet (who wants a “scam” post connected to their new great business name on Google search results?). Asset issuers can refuse to make an interview, but they can also ask for one to be made.

If an asset issuer decides to sponsor an article in the series, they won’t be guaranteed any recommendation. It can only be guaranteed that we’ll do our independent research and due diligence and publish it, which may turn out to their advantage – or their disadvantage. No asset sales are guaranteed.

Why?

Nxter.org works independently, yes, we’re a rare case. We’ve proven more than once that we can’t be bought. We exist to provide readers and investors with non-biased information. With this approach, we also give issuers a more seriously researched article, to which they can point both forum trolls and interested investors, instead of wasting time on answering the same more or less relevant questions over and over again in different chat rooms, private messages, and forums.

There are too many scam ICOs in the world of cryptocurrency but there are also too many hidden opportunities on the AE. The current situation is bad for investors and bad for crowdfunders as well, so let’s try to give both parties a helping hand. If you’re interested in helping, please contact us. In parallel with the interview series, we are building the nxter.org/assethub. More info about that will be available asap.

Who’ll get cut?

Time will tell. The first interview has been made with the Janus project. It felt natural, as they are currently hosting an ICO. Janus is a start-up business conglomerate that will be using the Nxt dividend feature to distribute BTC dividends, and may also implement their Nxt AE Janus token in some of their businesses…. or so they say. Check nxter.org tomorrow and read the first “Under the Knife” asset issuer interview.

UPDATE:
Under the Knife #1: The Janustoken

You can subscribe to the Nxter Newsletter, if you want the interview sent to your mailbox.

Nxt 2.0 – should investors and asset issuers be afraid? [video]

Here’s some great listening for you – Nxt core developer Riker chatting about Nxt, other cryptos and investing with Marc De Mesel, an investor who has 35% of his investments in NXT.

Marc wants to learn about Nxt’s anonymous lead developer Jean Luc, about where Nxt is now, compared to Ethereum and other blockchain ‘competitors’, and also about the recently proposed changes to the Nxt protocol (the NXT 2.0 proposal).

Riker explains how Nxt 2.0 aims to solve the blockchain bloat problem and make Nxt the first ever globally scalable crypto platform.

Also: how Nxt, if version 2.0 were to proceed, would become a sidechain and how, with version 2.x, more sidechains could be added. Instead of implementing Some Asset < > Some Asset trading, Nxt 2.0 would make all Nxt AE assets tradeable across all sidechains, globally.

Having a sidechain pegged to a fiat value, and other sidechains pegged to crypto coins like Bitcoin, Nxt assets would become tradeable on several new markets thereby, in effect, creating a fully decentralised, multi currency, low fee, globally scalable asset market, powered by Nxt AE.

[youtube id=”tN4FjZ-31uk” width=”600″ autoplay=“no”]

Nothing is yet set in stone, but as the Nxt 2.0 design has been discussed and refined for at least 6 months already among the Nxt core developers, there is every indication that Nxt 2.0 in its essence will be programmed as proposed, with all the remaining details hammered out in cooperation with the users, the active Nxt Community.

Riker mentions how Nxt 2.x could also be of benefit to companies, a user category which has shown a lot of interest in the Nxt Monetary System (MS) but been reluctant to use it because of the current need for users to pay transaction fees in NXT.

Now, with Nxt 2.0, they would be able to launch fully secured sidechains with Nxt features but without the sidechain users having to buy NXT to use it. As an example, Nxt MS tokens could be used as concert tickets, and only the business running the sidechain would have to pay fees to the Nxt main chain forgers.

Another obvious use case, via the Nxt MS’s crowdfunding feature,  would be to run crowdfunding campaigns in the sidechain currencies, such as fiat or Bitcoin.

Some organisations would probably want their own private blockchains, and ask the Nxt core developers for their help. But would any such private work which the Nxt core devs might get paid to do ever benefit the Nxt investor? Should we be looking for companies which would be willing to pay for the core development of the open sourced Nxt? Or would such companies get too much power over development?

Also read: Jelurida Q&A; Nxt core devs mean business

Is there a risk that, if Nxt became a sidechain with Nxt 2.0, the value of NXT would CRASH bringing down with it all AE asset prices, as some people have been claiming in the ongoing discussion regarding the design proposal? If so, should AE asset issuers and asset investors run away from the Nxt blockchain asap?

You’ll have to decide for yourself, of course. The crypto market is volatile and unpredictable, so who can really tell.

Lots of noise on this video, lots of good information too.
Thanks to Marc and Riker for doing this interview in Amsterdam.

Discuss the Nxt 2.0 design proposal in Nxtforum

To follow Marc De Mesel on Youtube, you can subscribe to his channel.

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