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Author Topic: | ARDOR | Scalable Blockchain-as-a-Service Platform | Proof of Stake  (Read 353722 times)
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VanBreuk
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August 03, 2016, 12:45:04 PM
 #541

I have my NXT on the exchange for now until the NXT wallet blockchain is finished, it is half way done right now and it just needs to complete.

In saying this does the snapshot of the exchanges work as well, and if I move it now in to a wallet on my PC how does that impact me because I am now going to be moving it on to a wallet and not being in the same address as it was?

As far as I know exchanges have not implemented a way to track the ARDR stake your exchange account has received so far during snapshots, so there is no immediate way to tell how exchanges snapshots are working. But for the exchanges that have committed to track Ardor distribution for user balances, we should assume the process will work.

About a transfer of your NXT to an account you hold the passphrase for, so you can open it with the Nxt Client - all accounts have their own snapshot count. So if you had for instance 10,000 NXT in account A for two weeks, and then you moved your NXT to another account B and keep them there for the remaining ~10 weeks of the snapshot period, after snapshots end you will receive approximately 1,666 ARDR in account A and 8334 ARDR in account B. Proportional to the time NXT spent in each account.

Also, note that in order to transfer NXT to your own wallet you do not need to complete the Nxt blockchain download in your client. Having the full blockchain in your computer just means that you have a local copy of the blockchain information, so your client can display all the past blockchain information without requesting it to the network. But as soon as you have generated a Nxt account and saved your passphrase, you can send NXT to that account, and once the exchange has processed the transfer, your NXT will be already in the new account ready to receive there the next hourly snapshot.

Nxt Client 1.10.0 experimental adds roaming/lite client features so users can operate with their accounts using public nodes in the network, with no local copy of the blockchain.
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August 03, 2016, 12:47:32 PM
 #542

Move your NXT tokens from the exchanges to the Nxt wallet (https://www.ardorplatform.org / https://nxt.org) Smiley

Even Hodor Would Understand  Grin

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August 04, 2016, 09:15:06 AM
 #543

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August 04, 2016, 09:52:08 AM
 #544

I have my NXT on the exchange for now until the NXT wallet blockchain is finished, it is half way done right now and it just needs to complete.

In saying this does the snapshot of the exchanges work as well, and if I move it now in to a wallet on my PC how does that impact me because I am now going to be moving it on to a wallet and not being in the same address as it was?

As far as I know exchanges have not implemented a way to track the ARDR stake your exchange account has received so far during snapshots, so there is no immediate way to tell how exchanges snapshots are working. But for the exchanges that have committed to track Ardor distribution for user balances, we should assume the process will work.

About a transfer of your NXT to an account you hold the passphrase for, so you can open it with the Nxt Client - all accounts have their own snapshot count. So if you had for instance 10,000 NXT in account A for two weeks, and then you moved your NXT to another account B and keep them there for the remaining ~10 weeks of the snapshot period, after snapshots end you will receive approximately 1,666 ARDR in account A and 8334 ARDR in account B. Proportional to the time NXT spent in each account.

Also, note that in order to transfer NXT to your own wallet you do not need to complete the Nxt blockchain download in your client. Having the full blockchain in your computer just means that you have a local copy of the blockchain information, so your client can display all the past blockchain information without requesting it to the network. But as soon as you have generated a Nxt account and saved your passphrase, you can send NXT to that account, and once the exchange has processed the transfer, your NXT will be already in the new account ready to receive there the next hourly snapshot.

Nxt Client 1.10.0 experimental adds roaming/lite client features so users can operate with their accounts using public nodes in the network, with no local copy of the blockchain.

Awesome, thank you.

This makes more sense to me now - I am holding it and I have finally downloaded the entire blockchain for my NXT wallet and have updated my address now.

I will look at rolling my NXT from the exchange and letting it run it's course, this could be a promising output with ARDR being released in October.

However, my next question is that if ARDR is deposited in to our existing addresses is it added as NXT and we now need to convert this back in to ARDR or does it get added in to a ARDR on the exchanges, I confirmed with my exchange that they do support the current snapshots or they have advised they have been doing it.

Just wondering how that works.
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August 04, 2016, 11:08:34 AM
 #545

I have my NXT on the exchange for now until the NXT wallet blockchain is finished, it is half way done right now and it just needs to complete.

In saying this does the snapshot of the exchanges work as well, and if I move it now in to a wallet on my PC how does that impact me because I am now going to be moving it on to a wallet and not being in the same address as it was?

As far as I know exchanges have not implemented a way to track the ARDR stake your exchange account has received so far during snapshots, so there is no immediate way to tell how exchanges snapshots are working. But for the exchanges that have committed to track Ardor distribution for user balances, we should assume the process will work.

About a transfer of your NXT to an account you hold the passphrase for, so you can open it with the Nxt Client - all accounts have their own snapshot count. So if you had for instance 10,000 NXT in account A for two weeks, and then you moved your NXT to another account B and keep them there for the remaining ~10 weeks of the snapshot period, after snapshots end you will receive approximately 1,666 ARDR in account A and 8334 ARDR in account B. Proportional to the time NXT spent in each account.

Also, note that in order to transfer NXT to your own wallet you do not need to complete the Nxt blockchain download in your client. Having the full blockchain in your computer just means that you have a local copy of the blockchain information, so your client can display all the past blockchain information without requesting it to the network. But as soon as you have generated a Nxt account and saved your passphrase, you can send NXT to that account, and once the exchange has processed the transfer, your NXT will be already in the new account ready to receive there the next hourly snapshot.

Nxt Client 1.10.0 experimental adds roaming/lite client features so users can operate with their accounts using public nodes in the network, with no local copy of the blockchain.

Awesome, thank you.

This makes more sense to me now - I am holding it and I have finally downloaded the entire blockchain for my NXT wallet and have updated my address now.

I will look at rolling my NXT from the exchange and letting it run it's course, this could be a promising output with ARDR being released in October.

However, my next question is that if ARDR is deposited in to our existing addresses is it added as NXT and we now need to convert this back in to ARDR or does it get added in to a ARDR on the exchanges, I confirmed with my exchange that they do support the current snapshots or they have advised they have been doing it.

Just wondering how that works.

Ardor won't be released until next year sometime. The tokens will be distributed on nxt on October 12th. This is to fund a market price and allow anyone to obtain Ardor before it is released.

The transition from ardor assets on the next asset exchange to ardor will probably be some burning mechanism. That's just a guess.

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August 04, 2016, 01:01:16 PM
 #546

my next question is that if ARDR is deposited in to our existing addresses is it added as NXT and we now need to convert this back in to ARDR or does it get added in to a ARDR on the exchanges, I confirmed with my exchange that they do support the current snapshots or they have advised they have been doing it.

Just wondering how that works.

A little summary of the whole process, please correct me if I mess anything up:

ARDR was already issued as an Asset Exchange asset by the Nxt developers - https://www.mynxt.info/asset/12422608354438203866

So after Nxt block 1,000,000 the initial distribution of this asset will happen, and every Nxt account that has been captured in snapshots will receive the amount of ARDR assets it earned.

ARDR will then be tradable in the Nxt AE and in any exchanges that want to add it. There's already been many AE assets in major third party exchanges, so integration will be simple. Then, while main Ardor development is finished and Ardor testnet comes live, ARDR distribution continues in the markets.

And when Ardor mainnet launches next year, there will be two last processes starting in Nxt blockchain:

1) A one-time snapshot of ARDR AE asset distribution is made, and that distribution is included in Ardor main chain genesis. I don't know yet the technical details for that distribution, but I assume assets will be automatically burned after the snapshot, and the Ardor accounts in genesis will be generated using the existing keys in Nxt blockchain. Developers will elaborate on that down the road.

2) A one-time snapshot of NXT distribution happens in Nxt blockchain, and Ardor genesis accounts will also receive tokens for the first child chain in Ardor (name still to be determined), based on the amount of NXT they hold at that moment. There will be a conversion rate for this, still open (it depends on whether other funding sources for development turn up) since a part of of these first chain tokens will be reserved to fund development, infrastructure and others.

This second point is important, because people might decide they're waiting until the current ARDR snapshots are finished and then selling their NXT, and besides whatever roadmap Nxt 1.0 may have after the snapshots, then they also miss a stake in the first Ardor child chain.

This first child chain is in principle the only "hard-coded" child blockchain in Ardor, and it will feature at least the current whole set of tools in Nxt, which will be also accessible for any blockchains created by users on top of Ardor. The essential difference with the Ardor main chain is that the main chain is taking care of securing and fueling the whole Ardor ecosystem, all the created blockchains including the first, using ARDR - but does not run other features inherited from Nxt (like the Marketplace, the Voting system, the Monetary System, etc). To use all the Nxt features in Ardor you'll need to use a child chain, either the first hard-coded one or any blockchain created by users.
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August 04, 2016, 05:56:34 PM
 #547

How many ARDR  will there be total ? Same like Nxt ?
Or will they increase the supply ever ?

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August 04, 2016, 06:05:58 PM
 #548

How many ARDR  will there be total ? Same like Nxt ?
Or will they increase the supply ever ?
1 000 000 000 ARDR. Supply is fixed.

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August 04, 2016, 06:11:15 PM
 #549

Yes, same as NXT.

1,000,000,000 assets were issued, and the assets that are not distributed after the snapshots (corresponding to NXT sent to genesis since launch, so not in circulation anymore) will be burned. That right now would leave ARDR supply in initial distribution at 998,999,999 ARDR.
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August 05, 2016, 02:04:29 AM
 #550

Anyone else getting anything from the 5mill forge bounty? I forged 7 blocks all empty this week.
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August 05, 2016, 02:39:00 AM
 #551

I have my NXT on the exchange for now until the NXT wallet blockchain is finished, it is half way done right now and it just needs to complete.

In saying this does the snapshot of the exchanges work as well, and if I move it now in to a wallet on my PC how does that impact me because I am now going to be moving it on to a wallet and not being in the same address as it was?

As far as I know exchanges have not implemented a way to track the ARDR stake your exchange account has received so far during snapshots, so there is no immediate way to tell how exchanges snapshots are working. But for the exchanges that have committed to track Ardor distribution for user balances, we should assume the process will work.

About a transfer of your NXT to an account you hold the passphrase for, so you can open it with the Nxt Client - all accounts have their own snapshot count. So if you had for instance 10,000 NXT in account A for two weeks, and then you moved your NXT to another account B and keep them there for the remaining ~10 weeks of the snapshot period, after snapshots end you will receive approximately 1,666 ARDR in account A and 8334 ARDR in account B. Proportional to the time NXT spent in each account.

Also, note that in order to transfer NXT to your own wallet you do not need to complete the Nxt blockchain download in your client. Having the full blockchain in your computer just means that you have a local copy of the blockchain information, so your client can display all the past blockchain information without requesting it to the network. But as soon as you have generated a Nxt account and saved your passphrase, you can send NXT to that account, and once the exchange has processed the transfer, your NXT will be already in the new account ready to receive there the next hourly snapshot.

Nxt Client 1.10.0 experimental adds roaming/lite client features so users can operate with their accounts using public nodes in the network, with no local copy of the blockchain.

Awesome, thank you.

This makes more sense to me now - I am holding it and I have finally downloaded the entire blockchain for my NXT wallet and have updated my address now.

I will look at rolling my NXT from the exchange and letting it run it's course, this could be a promising output with ARDR being released in October.

However, my next question is that if ARDR is deposited in to our existing addresses is it added as NXT and we now need to convert this back in to ARDR or does it get added in to a ARDR on the exchanges, I confirmed with my exchange that they do support the current snapshots or they have advised they have been doing it.

Just wondering how that works.

Ardor won't be released until next year sometime. The tokens will be distributed on nxt on October 12th. This is to fund a market price and allow anyone to obtain Ardor before it is released.

The transition from ardor assets on the next asset exchange to ardor will probably be some burning mechanism. That's just a guess.

I am just asking to make sure. Will Ardor be listed in exchanges like Poloniex so that speculators will be able to trade it even if the release is one year away? Or will it be like Waves release where it was listed in the exchanges with out the backing of a blockchain and without full nodes?

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August 05, 2016, 06:58:19 AM
 #552

Anyone else getting anything from the 5mill forge bounty? I forged 7 blocks all empty this week.

I got 100nxt once. Heard multiple ppl get some others unlucky. Also 1 member that got 10 000.
Its a lottery and need luck on your side
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August 05, 2016, 07:03:56 AM
 #553

@bbc.reporter

Nxt Foundation is in contact with BTC38, Bittrex and Poloniex about having Ardor asset trading ready directly after snapshots.
They are currently helping with the snapshots for Ardor. Trading will follow, but the exact date is not known yet.

Trading will at least be directly available on the Nxt Decentralized Asset Exchange that is reachable through the Nxt client (nxt.org) or you can use mynxt.info Online wallet and reach it with a plugin..

The Nxt Foundation member that is in contact with the polo admins will be back next week, so i will check the status with the negotiations him and will let it know here.
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August 05, 2016, 09:45:26 AM
 #554

Check out the presentation from last week from Lior Yaffe.
He's one of the core developers of Nxt/Ardor and he talks about the future.




https://youtu.be/soHe4UMyCCk

Slides: https://bitcoil.co.il/files/Advanced.Concepts.in.Blockchain.Design.pptx and http://prezi.com/x8jyard5-h51/

Filmed during Israel Bitcoin Meetup in Tel Aviv on 27 July 2016

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August 05, 2016, 10:52:32 AM
 #555

Sorry if this questions had already been asked but I couldnt find it using the search option; Does my wallet need to stay open in order for the snapshots to take place or can I credit my account with NXT and leave them there for months without opening the wallet on my PC. I am also curious if need to have my NXT in my account on the the 12th of October in order to receive my NXT or is it possible withdraw lets say 1 month before.

Thanks

INVALID BBCODE: close of unopened tag in table (1)
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August 05, 2016, 12:24:08 PM
 #556

The market is reacting well to the Ador Developments.

What is the ETA for the developments to have full release? (100% developed)


 
 
 
 
 
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August 05, 2016, 12:24:18 PM
 #557

Sorry if this questions had already been asked but I couldnt find it using the search option; Does my wallet need to stay open in order for the snapshots to take place or can I credit my account with NXT and leave them there for months without opening the wallet on my PC. I am also curious if need to have my NXT in my account on the the 12th of October in order to receive my NXT or is it possible withdraw lets say 1 month before.

Thanks

Hi, no problem for asking Smiley
If you hold nxt in your account you will get the ardor automatically as a bonus connected to your account in the form of an asset as ardor  (which will be freely tradeable after the snapshots)

In the nxt client and the web wallet you see (ever 60blocks snapshot and total is based on average nxt holding during the snapshots months) how many ardor you have now and supposed to get after the snapshots (ardor distribution).

So If you sell your nxt before the end of the snapshots you will not get more ardor, but will receive the ardor that is already snapshotted.

With nxt holding you are able to stake/mine transaction fees. And when ardor launches in q3 2017 there will be a snapshot for the 1st childchain tokens which you receive as a bonus based on your nxt holdings.
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August 05, 2016, 12:33:17 PM
 #558

The market is reacting well to the Ador Developments.

What is the ETA for the developments to have full release? (100% developed)

Beginning of Q1 testnet and Q3 mainnet.
Here is the roadmap :
https://nxtforum.org/core-development-announcements/announcing-nxt-2-0-roadmap/
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August 05, 2016, 12:35:46 PM
 #559

I am just asking to make sure. Will Ardor be listed in exchanges like Poloniex so that speculators will be able to trade it even if the release is one year away? Or will it be like Waves release where it was listed in the exchanges with out the backing of a blockchain and without full nodes?

ARDR will be distributed after snapshots period in the form of a Nxt Asset Exchange asset, that works like any other Nxt asset so far. Multiple Nxt assets or coins are currently exchanged in Poloniex and other exchanges (NAUT, LIQUID, UNITY, JINN, MMNXT, etc) so adding ARDR to exchanges will be just as straightforward.
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August 05, 2016, 12:51:43 PM
 #560

Sorry if this questions had already been asked but I couldnt find it using the search option; Does my wallet need to stay open in order for the snapshots to take place or can I credit my account with NXT and leave them there for months without opening the wallet on my PC. I am also curious if need to have my NXT in my account on the the 12th of October in order to receive my NXT or is it possible withdraw lets say 1 month before.

Thanks

Hi, no problem for asking Smiley
If you hold nxt in your account you will get the ardor automatically as a bonus connected to your account in the form of an asset as ardor  (which will be freely tradeable after the snapshots)

In the nxt client and the web wallet you see (ever 60blocks snapshot and total is based on average nxt holding during the snapshots months) how many ardor you have now and supposed to get after the snapshots (ardor distribution).

So If you sell your nxt before the end of the snapshots you will not get more ardor, but will receive the ardor that is already snapshotted.

With nxt holding you are able to stake/mine transaction fees. And when ardor launches in q3 2017 there will be a snapshot for the 1st childchain tokens which you receive as a bonus based on your nxt holdings.

Thanks for the explanation, all is clear now.

Time to collect more NXT.

Cheers

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