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Author Topic: [ANN] Nxt :: descendant of Bitcoin  (Read 280995 times)
BCNext
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September 28, 2013, 07:29:09 AM
 #1

I’d like to announce Nxt (pronounced as "next"), a cryptocurrency based on Bitcoin paradigm.

Nxt uses brand new software, it’s not a fork of Bitcoin source code.  Nxt improves different features of Bitcoin, removes some disadvantages (e.g. bloated blockchain) and resolves a big environmental issue.  I won’t write too many words, let’s jump straight to TL;DR version.

Coins are earned solely by charging transaction fees.
All coins will appear in Nxt via “transferring” them from the Bitcoin blockchain.  Not all bitcoins will be transferred hence the total number of coins is unknown yet.
Time between blocks is one minute.  This increases the rate of orphaned blocks but makes it more convenient for the users.
Nxt doesn’t use so-called “scripts” aka predicates.  This simplifies and accelerates transaction processing.  Advanced features like multisig will be created on top of the core as 3rd party services.
Mining is 100% proof-of-stake, Greenpeace will be happy.

At the present moment development of the software is not completed.  While I’m working on it we should start the transfer process to decide who and how much coins will get.  This will be done by sending a small amount of BTC to my own address.  I bet most of you have just thought “I got the catch!”  Hold on, I don’t ask you to send thousand USD worth coins, a few satoshis is enough.  A special message must be attached to the transaction.  This should be done via blockchain.info which supports such the feature.  The message must contain only SHA256 hash, that will be used to claim coins.  All these coins will be put into the genesis block that I’ll publish before the launch.  Anyone will be able to make sure that the 0th block contains only legit coins and there is no premine.

So, if you want to get coins do the following:
1.  Choose a secret phrase
2.  Calculate SHA256 hash of this phrase (an online calculator can be used)
3.  Calculate SHA256 hash of the hash you got on the previous step
4.  Send any amount to 1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a, don’t forget to attach a message with the hash you got on the 3rd step. (The amount is capped at 1 BTC!)

That’s it.  When Nxt is launched you will get part of new coins and your stake will be proportional to the amount you sent.

I work hard to launch Nxt as soon as possible.  I will complete all necessary things, but some extra work should be done.  I’m thinking about developing a web interface and some other cool things.  Feel free to support the development by sending donations to 125EJ3HYXNZ8swr2UBcvKNBV2voAYACFu9.

P.S.  I’m a veteran member of this forum.  I have to use this brand new account to remain anonymous but later I may reveal my identity.

P.P.S.  You can not transfer BTC to NXT after the genesis block is generated and approved by the community.




I got some offers, on the launch or shortly after it we will have the following services:

1]  Faucet.  It will be funded by our donations
2]  Currency exchange.  Classical BTC-to-NXT-n-back exchange
3]  Stock exchange.  If I got it correctly this is going to be a simplified (for non-pro traders) version of a stock exchange, can be used for crowdfunding
4]  Virtual goods store.  The goods will be provided by ordinary users (books, links, game codes, anything represented as plain text)




The interface is still in development but can be tested on http://88.198.210.245:7875




Follow me on Twitter @BCNext.  All important information will be tweeted.
Twitter suspended my account.
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BCNext
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September 28, 2013, 07:35:44 AM
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Important

15 minutes ago I had a talk with a man (or a woman) who said he is a police officer. We were chatting via Skype, he asked me to make him a phone call because he has important information for me. I refused to do so and closed Skype.
Some things to think about:
- I always use Tor surfing the Internet.
- How is it possible to get my Skype number which was created for Nxt project? It was known by 3 people only who are working on Nxt project.
- The phone number was +194... It's the USA and it's a night in there right now. Was it a joke?
- I have checked the computer, no malware found.

I will reinstall OS on my computer and will disapear for a couple of days until I find other ways to surf anonymously but without Tor.

PS: This message was posted by a member of my team.
BCNext
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September 28, 2013, 08:21:45 AM
 #3

Obvious scam but please prove me wrong

Don't worry, I'll send you a message with a link to the source code when it's ready.
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September 28, 2013, 08:22:19 AM
 #4

Sent 800BTC how many NXT will i get!??

Want to trade Altcoins? Come give https://cryptsy.com a try.
BCNext
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September 28, 2013, 08:23:31 AM
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Sent 800BTC how many NXT will i get!??

Smiley Total number of coins doesn't matter. Right now you are supposed to get 100% of them.
BCNext
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September 28, 2013, 08:55:29 AM
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BTW, we need a few bootstrapping servers available on the Internet.  If you are willing to help, please, download and install http://www.oracle.com/technetwork/java/javase/downloads/jdk7-downloads-1880260.html.  JDK is required to compile and run the software.  Compiled software can run on JRE.
Come-from-Beyond
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September 28, 2013, 10:40:29 AM
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BTW, we need a few bootstrapping servers available on the Internet.  If you are willing to help, please, download and install http://www.oracle.com/technetwork/java/javase/downloads/jdk7-downloads-1880260.html.  JDK is required to compile and run the software.  Compiled software can run on JRE.

Count me in.


FUND RAISING IS OVER
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September 28, 2013, 11:38:48 AM
 #8

I like the name Smiley
Nxt: next Smiley
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September 28, 2013, 11:53:57 AM
 #9

Mining is 100% proof-of-stake, Greenpeace will be happy.

Sooner or later someone will get this right.

Hash PoW mining will be viewed as a quaint anachronism.
BCNext
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September 28, 2013, 12:26:00 PM
 #10

Someone sent a transaction but forgot to attach a message with the hash.

Without a hash the coins can't be claimed!
BCNext
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September 28, 2013, 04:43:03 PM
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STOP SENDING COINS WITHOUT A MESSAGE ATTACHED, please.

A message should be attached via [Custom] transaction through http://blockchain.info.
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September 28, 2013, 05:03:53 PM
 #12

so you saying if someone sent you 1000 bitcoin they'll get 1000 nxt?

WOW!!!!

Energycoin - Save Energy, Pure POS (Free IPO). eH7RWqKgrEdtnS4Jk38w6JNYrfAMCSDp4u
BCNext
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September 28, 2013, 05:26:57 PM
 #13

No.

I'm saying that if someone sends me 1000 bitcoin they'll get

total_number_of_nxt * 1000 / balance_of_1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a

coins.
azwccc
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September 28, 2013, 05:35:17 PM
 #14

sounds like another mastercoin.

you know, if you have a white paper and some more promise, you may get BTC4000..

Bitrated user: azwccc.
BCNext
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September 28, 2013, 05:50:15 PM
 #15

Mastercoin relies on the Bitcoin blockchain and requires ASICs mining non-stop.

Nxt uses its own blockchain and any coin holder can mine a block by accident even with their mobile phone.  Almost 0 electricity required.
BCNext
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September 28, 2013, 08:03:09 PM
 #16

I'm looking for guys who could help me to test the networking.  Post here IP addresses of servers and I'll add them into the list of well-known peers.  Later you are supposed to launch Nxt software on these servers.
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September 28, 2013, 08:49:11 PM
 #17

what will you do with bitcoins you received? they're yours to keep?

basically you create nxt, then ppl will pool their bitcoins together so they can buy nxt from you?

then you will distribute 100% of created nxt according to the bitcoin contribution?

how many bitcoins are you going to contribute? (are you going to keep the coins you contributed yourself?  Embarrassed )
or you will take a creator cut (certain %)


Energycoin - Save Energy, Pure POS (Free IPO). eH7RWqKgrEdtnS4Jk38w6JNYrfAMCSDp4u
BCNext
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September 28, 2013, 09:26:12 PM
 #18

what will you do with bitcoins you received? they're yours to keep?

I don't think there will be decent amount, as I said you should send small amounts, it's just for distribution of coins.  If the balance becomes big it will be spent for further development after the initial launch.  I could ask you to send bitcoins to an unspendable address, but I prefer to have a chance to send bitcoins back to their owners in case if Nxt is not launched due to different reasons.


basically you create nxt, then ppl will pool their bitcoins together so they can buy nxt from you?
then you will distribute 100% of created nxt according to the bitcoin contribution?

No.  All nxts will be in the genesis block waiting for someone who knows the secret phrase entered on the 1st step.  I won't be able to take these coins because the network will reject any non-legit transaction.  Everyone will get nxts in proportion to the bitcoin contribution.


how many bitcoins are you going to contribute? (are you going to keep the coins you contributed yourself?  Embarrassed )
or you will take a creator cut (certain %)

I don't know how much I will contribute.  This depends on the price of Bitcoin and some other factors.  These bitcoins, like the others, will be used to pay bounties for development.  No creator cut.
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September 29, 2013, 05:18:53 AM
 #19

This sounds like an interesting idea, i just sent you 0.2695 BTC. When do you think you'll be ready to launch? I'd be interested in running a server.
BCNext
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September 29, 2013, 07:23:11 AM
 #20

03/Jan/2014 is a very good day for the launch.  Exactly 5 years after the launch of Bitcoin.  The genesis block and software will be published much earlier so the community will have enough time to check and test everything.

Tell me the IP of your server, please.
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