| Nxt | Blockchain Platform | Proof of Stake | Official

[farl4web]

I created a special topic about it to discuss how they made this happen and how Nxt did beat Ethereum and Bitcoin and for which reasons. This is a real government agency which choses POS and because of the simplicity and functionality. Big news!

Join the conversation here: https://bitcointalk.org/index.php?topic=1485090.0

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[Attack.of.the.Clones]

I take it that once the transition is made that NXT will eventually phase out?

I'd say that this is an assumption and may well be wrong.

Nxt 1.x will be supported for at least a year after mainnet 2.0 launches (until Q2 2018).

Personally, I think it still has plenty of options and could probably be useful.

Discarding old stuff is not always a good idea.

Conversely, it might even be taken over by a completely new set of devs.

To say it's going to just fade out is premature.

Maybe jl777 will take over Nxt 1.x?

[nzminer]

I take it that once the transition is made that NXT will eventually phase out?

I'd say that this is an assumption and may well be wrong.

Nxt 1.x will be supported for at least a year after mainnet 2.0 launches (until Q2 2018).

Personally, I think it still has plenty of options and could probably be useful.

Discarding old stuff is not always a good idea.

Conversely, it might even be taken over by a completely new set of devs.

To say it's going to just fade out is premature.

Sorry, perhaps i dont fully understand, but i thought NXT 2.0 was designed to replace the old NXT blockchain?

We have seen similar things happen with other coins in the past.

[farl4web]

I take it that once the transition is made that NXT will eventually phase out?

I'd say that this is an assumption and may well be wrong.

Nxt 1.x will be supported for at least a year after mainnet 2.0 launches (until Q2 2018).

Personally, I think it still has plenty of options and could probably be useful.

Discarding old stuff is not always a good idea.

Conversely, it might even be taken over by a completely new set of devs.

To say it's going to just fade out is premature.

Sorry, perhaps i dont fully understand, but i thought NXT 2.0 was designed to replace the old NXT blockchain?

We have seen similar things happen with other coins in the past.

No Nxt as it is stays. But now it will get a motherchain underneath. You can use Nxt as you do now!

EDIT: I added the news to Nxt.org https://nxt.org/russias-central-securities-depository-uses-nxt-blockchain-voting/

[Damelon]

I take it that once the transition is made that NXT will eventually phase out?

I'd say that this is an assumption and may well be wrong.

Nxt 1.x will be supported for at least a year after mainnet 2.0 launches (until Q2 2018).

Personally, I think it still has plenty of options and could probably be useful.

Discarding old stuff is not always a good idea.

Conversely, it might even be taken over by a completely new set of devs.

To say it's going to just fade out is premature.

Sorry, perhaps i dont fully understand, but i thought NXT 2.0 was designed to replace the old NXT blockchain?

We have seen similar things happen with other coins in the past.

No Nxt as it is stays. But now it will get a motherchain underneath. You can use Nxt as you do now!

EDIT: I added the news to Nxt.org https://nxt.org/russias-central-securities-depository-uses-nxt-blockchain-voting/

Sorry, but this needs to be corrected.

Nxt 1.x will remain and will continue to be supported.

Nxt 2.0 is a new chain, that is split into a main chain (which will validate using FXT) and many child chains (the first of which will be using FNX as transactional token).

Nxt 1.x and 2.0 will have no direct relation on a blockchain.

Nxt 1.x is not being abandoned, but it will not receive new features from the core team. It will get bugfixes and updates that are required for safety and maintenance.
This does not mean new devs could not take on this project, though.

[farl4web]

I thought the current Nxt was going to be one of the childchains of Nxt 2.0/FXT. Haha, still learning. Not much time to read all more in details. 

[nzminer]

I originally thought that we would keep NXT as it is, then add "Fnxt" alongside for forging.
So now, if im correct is that NXT will remain, but FXT and FNX will be added as seperate chains?

[windjc]

I take it that once the transition is made that NXT will eventually phase out?

I'd say that this is an assumption and may well be wrong.

Nxt 1.x will be supported for at least a year after mainnet 2.0 launches (until Q2 2018).

Personally, I think it still has plenty of options and could probably be useful.

Discarding old stuff is not always a good idea.

Conversely, it might even be taken over by a completely new set of devs.

To say it's going to just fade out is premature.

Sorry, perhaps i dont fully understand, but i thought NXT 2.0 was designed to replace the old NXT blockchain?

We have seen similar things happen with other coins in the past.

No Nxt as it is stays. But now it will get a motherchain underneath. You can use Nxt as you do now!

EDIT: I added the news to Nxt.org https://nxt.org/russias-central-securities-depository-uses-nxt-blockchain-voting/

Sorry, but this needs to be corrected.

Nxt 1.x will remain and will continue to be supported.

Nxt 2.0 is a new chain, that is split into a main chain (which will validate using FXT) and many child chains (the first of which will be using FNX as transactional token).

Nxt 1.x and 2.0 will have no direct relation on a blockchain.

Nxt 1.x is not being abandoned, but it will not receive new features from the core team. It will get bugfixes and updates that are required for safety and maintenance.
This does not mean new devs could not take on this project, though.

Will holders of Nxt get Nxt 2.0 and Fnxt?

[nzminer]

I take it that once the transition is made that NXT will eventually phase out?

I'd say that this is an assumption and may well be wrong.

Nxt 1.x will be supported for at least a year after mainnet 2.0 launches (until Q2 2018).

Personally, I think it still has plenty of options and could probably be useful.

Discarding old stuff is not always a good idea.

Conversely, it might even be taken over by a completely new set of devs.

To say it's going to just fade out is premature.

Sorry, perhaps i dont fully understand, but i thought NXT 2.0 was designed to replace the old NXT blockchain?

We have seen similar things happen with other coins in the past.

No Nxt as it is stays. But now it will get a motherchain underneath. You can use Nxt as you do now!

EDIT: I added the news to Nxt.org https://nxt.org/russias-central-securities-depository-uses-nxt-blockchain-voting/

Sorry, but this needs to be corrected.

Nxt 1.x will remain and will continue to be supported.

Nxt 2.0 is a new chain, that is split into a main chain (which will validate using FXT) and many child chains (the first of which will be using FNX as transactional token).

Nxt 1.x and 2.0 will have no direct relation on a blockchain.

Nxt 1.x is not being abandoned, but it will not receive new features from the core team. It will get bugfixes and updates that are required for safety and maintenance.
This does not mean new devs could not take on this project, though.

Will holders of Nxt get Nxt 2.0 and Fnxt?

Yes i believe so.

[farl4web]

I take it that once the transition is made that NXT will eventually phase out?

I'd say that this is an assumption and may well be wrong.

Nxt 1.x will be supported for at least a year after mainnet 2.0 launches (until Q2 2018).

Personally, I think it still has plenty of options and could probably be useful.

Discarding old stuff is not always a good idea.

Conversely, it might even be taken over by a completely new set of devs.

To say it's going to just fade out is premature.

Sorry, perhaps i dont fully understand, but i thought NXT 2.0 was designed to replace the old NXT blockchain?

We have seen similar things happen with other coins in the past.

No Nxt as it is stays. But now it will get a motherchain underneath. You can use Nxt as you do now!

EDIT: I added the news to Nxt.org https://nxt.org/russias-central-securities-depository-uses-nxt-blockchain-voting/

Sorry, but this needs to be corrected.

Nxt 1.x will remain and will continue to be supported.

Nxt 2.0 is a new chain, that is split into a main chain (which will validate using FXT) and many child chains (the first of which will be using FNX as transactional token).

Nxt 1.x and 2.0 will have no direct relation on a blockchain.

Nxt 1.x is not being abandoned, but it will not receive new features from the core team. It will get bugfixes and updates that are required for safety and maintenance.
This does not mean new devs could not take on this project, though.

So, a childchain on Nxt 2.0 doesn't look the same as Nxt 1.x? Or maybe in the beginning, but after a while new functions will be added to the Nxt 2.0 childchains and NOT to Nxt 1.x?

[Damelon]

So, a childchain on Nxt 2.0 doesn't look the same as Nxt 1.x? Or maybe in the beginning, but after a while new functions will be added to the Nxt 2.0 childchains and NOT to Nxt 1.x?

The FNX chain will be as Nxt 1.x with the added benefits of being on the Nxt 2.0 platform.

Nxt 1.x will in this plan only be supported with bugfixes and general support, but work on new features will be done on 2.0. However, if other devs want to work on 1.x, this is still possible. The core team just doesn't have the man hours to do both.

Will holders of Nxt get Nxt 2.0 and Fnxt?

Yes and yes.

They will get Fnxt (now FXT) ata 1:1 ratio based on a three month snapshot period (they will receive assets representing them which will be freely tradeable) and will receive FNX (the Nxt 2.0 tokens if you will) at a 1:0,5 ratio at the time of launch of mainnet 2.0.

[windjc]

So, a childchain on Nxt 2.0 doesn't look the same as Nxt 1.x? Or maybe in the beginning, but after a while new functions will be added to the Nxt 2.0 childchains and NOT to Nxt 1.x?

The FNX chain will be as Nxt 1.x with the added benefits of being on the Nxt 2.0 platform.

Nxt 1.x will in this plan only be supported with bugfixes and general support, but work on new features will be done on 2.0. However, if other devs want to work on 1.x, this is still possible. The core team just doesn't have the man hours to do both.

Will holders of Nxt get Nxt 2.0 and Fnxt?

Yes and yes.

They will get Fnxt (now FXT) ata 1:1 ratio based on a three month snapshot period (they will receive assets representing them which will be freely tradeable) and will receive FNX (the Nxt 2.0 tokens if you will) at a 1:0,5 ratio at the time of launch of mainnet 2.0.

When does the snapshot begin? What about Nxt on exchange wallets?

[farl4web]

So, a childchain on Nxt 2.0 doesn't look the same as Nxt 1.x? Or maybe in the beginning, but after a while new functions will be added to the Nxt 2.0 childchains and NOT to Nxt 1.x?

The FNX chain will be as Nxt 1.x with the added benefits of being on the Nxt 2.0 platform.

Nxt 1.x will in this plan only be supported with bugfixes and general support, but work on new features will be done on 2.0. However, if other devs want to work on 1.x, this is still possible. The core team just doesn't have the man hours to do both.

Will holders of Nxt get Nxt 2.0 and Fnxt?

Yes and yes.

They will get Fnxt (now FXT) ata 1:1 ratio based on a three month snapshot period (they will receive assets representing them which will be freely tradeable) and will receive FNX (the Nxt 2.0 tokens if you will) at a 1:0,5 ratio at the time of launch of mainnet 2.0.

When does the snapshot begin? What about Nxt on exchange wallets?

https://nxt.org/roadmap/

[CryptKeeper]

The second Nxt Vanity Account auction has started, starting bid 100 NXT!

[Brangdon]

Going on to support 1.x while keeping 50% of transactional token of 2.0 is a genius idea. By that you get funding and avoid expropriation. It's like squaring the circle. Strange that this great and simple idea didn't come up in the big discussions of the last months.

Well, it's kinda risky. It could lead to 2.0 failing. All the Digital Good Store goods, and Asset Exchange assets, will by default remain on the 1.0 chain. So by default that's where all the action is. With 1.0 continuing for at least a year, there's no particular reason to move. Basically, 2.0 will be a new alt-coin that competes with 1.0. Unlike most new alt-coins, it'll inherit many of the perceived problems of Nxt including the initial distribution. That the devs will be holding onto 50% of the transactional coin will be seen as a further distribution problem by some. 2.0 is supposed to be more scalable, but scalability has been only an academic problem so far because the relatively small number of users, so who really cares? God knows what will happen to prices. Each NXT will effectively split into three coins, and we have no idea how much of the value will go where.

Maybe, when 2.0 launches, a lot of people will decide to wait and see before moving their assets. If not enough people switch their activity to the new chain, 2.0 could fail.

(And in the mean time, the Nxt community is incurring a huge opportunity cost as man-years of effort are poured into 2.0 instead of into other features.)

[windjc]

Going on to support 1.x while keeping 50% of transactional token of 2.0 is a genius idea. By that you get funding and avoid expropriation. It's like squaring the circle. Strange that this great and simple idea didn't come up in the big discussions of the last months.

Well, it's kinda risky. It could lead to 2.0 failing. All the Digital Good Store goods, and Asset Exchange assets, will by default remain on the 1.0 chain. So by default that's where all the action is. With 1.0 continuing for at least a year, there's no particular reason to move. Basically, 2.0 will be a new alt-coin that competes with 1.0. Unlike most new alt-coins, it'll inherit many of the perceived problems of Nxt including the initial distribution. That the devs will be holding onto 50% of the transactional coin will be seen as a further distribution problem by some. 2.0 is supposed to be more scalable, but scalability has been only an academic problem so far because the relatively small number of users, so who really cares? God knows what will happen to prices. Each NXT will effectively split into three coins, and we have no idea how much of the value will go where.

Maybe, when 2.0 launches, a lot of people will decide to wait and see before moving their assets. If not enough people switch their activity to the new chain, 2.0 could fail.

(And in the mean time, the Nxt community is incurring a huge opportunity cost as man-years of effort are poured into 2.0 instead of into other features.)

All this is potentially true. However, I think many of the major assets will have moved to platforms like Waves long before any of these other things happen. What makes a platform attractive is # of users and the Nxt Asset Exchange destroyed its ability to keep market share. So it will be replaced. Yes, some will be lazy and stay, but not the ones interested in their immediate future.

[vytasz7]

NXT is a pioneer  in showing crypto space how to destroy a coin from inside .

[farl4web]

Going on to support 1.x while keeping 50% of transactional token of 2.0 is a genius idea. By that you get funding and avoid expropriation. It's like squaring the circle. Strange that this great and simple idea didn't come up in the big discussions of the last months.

Well, it's kinda risky. It could lead to 2.0 failing. All the Digital Good Store goods, and Asset Exchange assets, will by default remain on the 1.0 chain. So by default that's where all the action is. With 1.0 continuing for at least a year, there's no particular reason to move. Basically, 2.0 will be a new alt-coin that competes with 1.0. Unlike most new alt-coins, it'll inherit many of the perceived problems of Nxt including the initial distribution. That the devs will be holding onto 50% of the transactional coin will be seen as a further distribution problem by some. 2.0 is supposed to be more scalable, but scalability has been only an academic problem so far because the relatively small number of users, so who really cares? God knows what will happen to prices. Each NXT will effectively split into three coins, and we have no idea how much of the value will go where.

Maybe, when 2.0 launches, a lot of people will decide to wait and see before moving their assets. If not enough people switch their activity to the new chain, 2.0 could fail.

(And in the mean time, the Nxt community is incurring a huge opportunity cost as man-years of effort are poured into 2.0 instead of into other features.)

All this is potentially true. However, I think many of the major assets will have moved to platforms like Waves long before any of these other things happen. What makes a platform attractive is # of users and the Nxt Asset Exchange destroyed its ability to keep market share. So it will be replaced. Yes, some will be lazy and stay, but not the ones interested in their immediate future.

I think these platforms like Waves first need to proof themselves. Companies don't just put their assets on a alpha-platform with low fly hours. Nxt has the best AE in the crypto world.

[windjc]

Going on to support 1.x while keeping 50% of transactional token of 2.0 is a genius idea. By that you get funding and avoid expropriation. It's like squaring the circle. Strange that this great and simple idea didn't come up in the big discussions of the last months.

Well, it's kinda risky. It could lead to 2.0 failing. All the Digital Good Store goods, and Asset Exchange assets, will by default remain on the 1.0 chain. So by default that's where all the action is. With 1.0 continuing for at least a year, there's no particular reason to move. Basically, 2.0 will be a new alt-coin that competes with 1.0. Unlike most new alt-coins, it'll inherit many of the perceived problems of Nxt including the initial distribution. That the devs will be holding onto 50% of the transactional coin will be seen as a further distribution problem by some. 2.0 is supposed to be more scalable, but scalability has been only an academic problem so far because the relatively small number of users, so who really cares? God knows what will happen to prices. Each NXT will effectively split into three coins, and we have no idea how much of the value will go where.

Maybe, when 2.0 launches, a lot of people will decide to wait and see before moving their assets. If not enough people switch their activity to the new chain, 2.0 could fail.

(And in the mean time, the Nxt community is incurring a huge opportunity cost as man-years of effort are poured into 2.0 instead of into other features.)

All this is potentially true. However, I think many of the major assets will have moved to platforms like Waves long before any of these other things happen. What makes a platform attractive is # of users and the Nxt Asset Exchange destroyed its ability to keep market share. So it will be replaced. Yes, some will be lazy and stay, but not the ones interested in their immediate future.

I think these platforms like Waves first need to proof themselves. Companies don't just put their assets on a alpha-platform with low fly hours. Nxt has the best AE in the crypto world.

Well all of JL777s project assets are going on Waves and will be pegged against BTC. Coinamat as also leaving I believe. Nxt Asset exchange will still have Jinn, but I am not sure what other significant projects it will retain.

[farl4web]

Going on to support 1.x while keeping 50% of transactional token of 2.0 is a genius idea. By that you get funding and avoid expropriation. It's like squaring the circle. Strange that this great and simple idea didn't come up in the big discussions of the last months.

Well, it's kinda risky. It could lead to 2.0 failing. All the Digital Good Store goods, and Asset Exchange assets, will by default remain on the 1.0 chain. So by default that's where all the action is. With 1.0 continuing for at least a year, there's no particular reason to move. Basically, 2.0 will be a new alt-coin that competes with 1.0. Unlike most new alt-coins, it'll inherit many of the perceived problems of Nxt including the initial distribution. That the devs will be holding onto 50% of the transactional coin will be seen as a further distribution problem by some. 2.0 is supposed to be more scalable, but scalability has been only an academic problem so far because the relatively small number of users, so who really cares? God knows what will happen to prices. Each NXT will effectively split into three coins, and we have no idea how much of the value will go where.

Maybe, when 2.0 launches, a lot of people will decide to wait and see before moving their assets. If not enough people switch their activity to the new chain, 2.0 could fail.

(And in the mean time, the Nxt community is incurring a huge opportunity cost as man-years of effort are poured into 2.0 instead of into other features.)

All this is potentially true. However, I think many of the major assets will have moved to platforms like Waves long before any of these other things happen. What makes a platform attractive is # of users and the Nxt Asset Exchange destroyed its ability to keep market share. So it will be replaced. Yes, some will be lazy and stay, but not the ones interested in their immediate future.

I think these platforms like Waves first need to proof themselves. Companies don't just put their assets on a alpha-platform with low fly hours. Nxt has the best AE in the crypto world.

Well all of JL777s project assets are going on Waves and will be pegged against BTC. Coinamat as also leaving I believe. Nxt Asset exchange will still have Jinn, but I am not sure what other significant projects it will retain.

FARLAWEB ... 
LQD
NEXT
FreeMarket
and many more
...

More than Waves has. 

Why would james go to Waves? He has Supernet... shall he abandon one of it's core coins?