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Nxt news – March 2017 (II): My Tastes are Simple: I’m Easily Satisfied with the Best

NXT NxtCoin 2. generation cryptocurrency news

March 2017 (II)

 

Here’s some of the latest news about Nxt over this past week:

NXT COMMUNITY
DEVELOPMENT
NXT IN THE MEDIA
PRICE EVOLUTION

 

Below are more details about each of these topics:

 

NXT COMMUNITY

  • Nxt Foundation – 2017 Marketing Strategy

The Nxt Foundation published a document with the general guidelines of its marketing strategy for 2017. The Foundation was created in 2014 to be a contact point for business and organizations and to link them with the decentralized open source of Nxt. Moreover, it has taken on some additional task such as community building and support, marketing, public relations, and education. Unlike what has happened with the other coins, BCNext, the anonymous creator of the platform, didn’t seek to make a killing with the ICO, but did so primarily for the token distribution of this PoS cryptoplatform. Because of the lack of resources after its creation, a lot of work done by the wider community was done voluntarily or by bounties set up by other community members. That’s the reason why assistance and participation from the community is still needed in order for Nxt and Ardor to truly flourish, hence the publication of this document.

As open source decentralized projects, Nxt and Ardor can only thrive when there is a community behind them. The Foundation will thus dedicate the necessary resources to support the existing community as well as to make it easier for new members to join the community

It has to be noted that this document isn’t mandatory, but rather intends to serve as a guide should members of the community wish to keep their efforts in sync with that of the Foundation.

Source and more information: https://www.nxtfoundation.io/wp-content/uploads/2017/03/Nxt-Foundation-Marketing-Strategy-2017.pdf

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  • CRYPT070 #6 – Blockchain Meetup Where Nxt and Ardor will be Present

The 6th CRYPT070 blockchain meetup will be held on the 23rd of March at The Hague. Nxt will be present at the event at 20:00 when Robert Reinder Nederhoed will introduce the future Ardor platform with his presentation titled “Colored Coins: What are the differences? What are the similarities? What are the perspectives?”

It should be noted that one of the first real implementations of the coloured coin concept was the Nxt Asset  Exchange. Nxt was designed and built to leverage this coloured coins idea. Nxt coins can be designated (‘coloured’) to represent other crypto coins, stocks/bonds, property, commodities, or even ideas. As a result, the Nxt network can be used to trade almost anything.

Source and more information: www.meetup.com/nl-NL/Bitcoin-The-Hague/events/237635620/?eventId=237635620

Nxt Core – Asset Exchange

https://nxtwiki.org/wiki/Asset_Exchange

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  • CoinsHost –  NXT Accepted To Pay For Your VPS

If you are interested in launching your own virtual server to run your own Nxt node (or your own Ardor node for testnet) you can now pay using NXT thanks to CoinsHost, a company created by a group of professionals and cryptocurrency enthusiasts who focus on DDoS protection and secure hosting services.

We have developed a powerful proprietary DDoS mitigation solution that is capable of mitigating massive and sophisticated attacks, leaving a targeted website or service unaffected.

CoinsHost designed its infrastructure with redundancy in mind – enterprise-class Supermicro® and Cisco® hardware, multiple TIER-1 upstream providers, dual power source with UPS, diesel generators and automatic switchover, multilayer IP packet filtering solution allow us to provide unmatched DDoS protected hosting with highest availability at a very reasonable price. We treat decentralized currencies based on encryption as completely legit payment methods and encourage our clients to pay with them. Besides Bitcoin, Litecoin and Nextcoin P2P currencies, we accept a wide range of other payment methods…

You can choose among many different sizes of servers, with Linux or Windows as your operating system. Since Nxt is a PoS coin, it doesn’t require powerful servers to run, thus the most simple and cheap server offered by this company is more than enough to create your Nxt or Ardor node (or even both simultaneously) and start forging. Set up your node and start collaborating with the Nxt network by forging blocks and you’ll also be entitled to participate in Megalodon’s campaign to earn even more NXT!

Source and more information: coinshost.com/en/vps

https://nxtforum.org/services/coinshost-swiss-web-hosting-and-ddos-protection-accepting-nxt

Megalodon’s campaign

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DEVELOPMENT

  • Private Blockchain Evaluation Kit v1.11.4

Riker, Nxt and Ardor core developer and member of Jelurida, made a post on Nxtforum announcing the release of the first version of the software to evaluate the operation of private blockchains, which a modified version of Nxt 1.11.4. Using the “Private Blockchain Evaluation Kit”, users will now be able to rapidly prototype, develop, and test Nxt-based applications on a private, local testnet, without having to join the public testnet or the production blockchain.

Lior Yaffe says:

We expect this evaluation release to be useful for the following purposes:
1. Application developers who plan to eventually deploy their application to public Nxt blockchain.
2. Businesses evaluating the suitability of the Nxt platform for their own private blockchain use case.
3. Academic research and experimentation with proof of stake blockchain technology.
4. Users who want to learn how the Nxt blockchain works, without having to purchase NXT or ask for testnet coins.

Any company can use this to setup a private network, the limitation of this kit, is that the Genesis account with a well known passphrase can submit transactions. We believe that this by itself prevents the usage of this private blockchain for production and that whomever wants to use it for production will need to license a fully functional version from Jelurida.

Jean-Luc, member of Jelurida, also notes:

The license doesn’t allow production use

In the “Nxt in the Media” section of this magazine, we also mention other news platforms that have covered this launch.

Source: nxtforum.org/nrs-releases/private-blockchain-evaluation-kit-v1-11-4/

https://nxtchat.slack.com/archives/developers/p1489138957121368 (link to join Nxtchat on Slack)

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  • Ardor – v2.0.2e For the Testnet

On the 11th of March, Jean-Luc, Nxt and Ardor lead core developer and member of Jelurida, released the last version of Ardor for the tesnet v2.0.2, and it’s a mandatory update due to its incompatible changes.

This release introduces an incompatible networking change in bundler rates propagation and is therefore a mandatory update for all Ardor testnet nodes.

This version brings some improvements in bundler rate handling and APIs. Among theses changes include: the Bundler rates changed to being broadcasted every 30 min instead of an hour, the added Bundle action for child chain transactions in the UI, some bug fixes, and many more (see the full changelog here)

  • Mac Installer

This new version also includes a full installer for Mac devices, which wasn’t available in previous releases. You can download it from https://bitbucket.org/JeanLucPicard/ardor/downloads/ardor-installer-2.0.2e.dmg

If you’re interested, you can ask for testnet tokens here.

Source and more information: nxtforum.org/nrs-releases/ardor-v2-0-2e/

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NXT IN THE MEDIA

  • The Merkle – Top 5 Cryptocurrencies That Can’t be Mined

Most people involved in the cryptocurrency ecosystem are aware of the Proof of Work algorithm that Bitcoin uses. People often talk about the big mining farms with plenty of powerful computers that waste an incredible amount of energy and other resources, as they need to compete against each other in a race to generate the next block in the Bitcoin blockchain. This can lead to a certain level centralization in the hands of miners.

, writer of this article for The Merkle, goes over this issue and enumerates some coins that can’t be mined, i.e. ones that don’t use Proof of Work to run. Nxt is listed among them since it is the first 100% Proof of Stake cryptoplatform:

NXT is a popular altcoin that cannot be mined in the traditional sense. It is possible for users to forge new coins, but it doesn’t require dedicated hardware to do so. Instead, users need to leave their wallet open – assuming it contains a balance – and they will earn small amounts of interest in the process. NXT runs a proof-of-stake algorithm, which makes mining in the traditional way obsolete.

Source: themerkle.com/top-5-cryptocurrencies-that-cant-be-mined/

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  • Fintech Finance – Nxt Development Team Releases Private Blockchain Evaluation Kit

Fintech.Finance wrote about the launch of the Private Blockchain Evaluation Kit by Jelurida BV to make it possible for people to perform private and local tests of private blockchains based on Nxt, which will allow developers to test their apps in a secure and safe environment, as we have previously mentioned in this same newsletter.Lior Yaffe, member of Jelurida, states in the article:

The Nxt Private Blockchain Evaluation Kit we have designed creates a safe, ready-made environment for businesses and developers to test how Nxt can be applied to their needs. It provides a comprehensive kit to answer any questions potential users might have regarding the efficacy of Nxt Blockchain technology.

Source: www.fintech.finance/01-news/nxt-development-team-releases-private-blockchain-evaluation-kit/

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  • Payments Compliance – Singapore Readies Blockchain Trial Cross Border Payments

This article by Jimmy Nicholls at Payments Compliance explains how the Monetary Authority of Singapore (MAS), with the support of big banks such as HSBC, JP Morgan, and other financial groups, are ready to begin testing whether cross-border payments could be carried out using distributed ledger technology, following a successful pilot for carrying out interbank payments which will work together with the country’s electronic payment system, thus becoming a concrete use case for the distributed ledger technology.

The text reveals some details about the procedure and also offers some opinions from relevant people in the blockchain environment, such as Travin Keith, a board member of the Nxt Foundation:

…both banks and consumers could gain from lower costs associated with the project. While the banks themselves will definitely benefit due to the lower costs of transferring funds from one bank to the other, these savings could be passed on to their customers as well… The distributed ledger technology industry as a whole will benefit given the initial steps of the adoption of the technology not requiring an overhaul of the current system.

I think other jurisdictions with a similar infrastructure in place can adopt systems like these especially given Singapore’s overall positive reputation in banking.

Source: paymentscompliance.com/premium-content/insights_analysis/singapore-readies-blockchain-trial-cross-border-payments (Login Required)

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  • First Report Economic News – Nxt Foundation Leads the Way with Blockchain Technology

Matt Cesare and Andrew Stiles wrote this article at First Report Economics where they go over the role and objectives of the Nxt Foundation. The text explains how blockchain technology has a great future ahead because of the great versatility and security it brings to the world of finance.

Instead of transferring information linearly from base A to base B to base C, information is updated through all parts of the chain.

An example may clarify this: when sending a legal document via email, the receiver must sign that document, save the changes, and then send back the new version of the document. In contrast, blockchain technology is more similar to editing a document on Google’s live document editing tool; editors can change the document simultaneously, and all changes are updated and saved real-time, all while the record of the changes are kept.

Blockchain allows everybody involved in a transaction to see what is happening with the transaction when it is happening. There are no delays and no uncertainties.

The article also mentions some of the third party projects that benefit from Nxt technology, such as Janus, Digital Billions, SuperNET, and others.

The Nxt Foundation is the primary point of contact for companies who intend to build something on Nxt. It’s composed by well-known members among the blockchain industry, such as Damelon, founder of the Nxt Foundation, who has recently become an advisor of the Internet of Coins board, and Travin Keith, a board member of the Foundation, who is in charge of (among many other things) representing the Nxt Foundation as it collaborates with Hyperledger. Definitely a great team to achieve great results!

Source:  firstreporteconomics.com/articles/2017/3/10/nxt-foundation-leads-the-way-with-blockchain-technology

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PRICE EVOLUTION

  • 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:

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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.

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