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Damelon

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Announcing Nxt 2.0 Roadmap
« on: May 23, 2016, 06:08:56 pm »

Roadmap of Nxt 2.0

Edit: FXT has been named Ardor! More info here: https://nxtforum.org/core-development-announcements/(ann)-ardor-or-nxt-2-0-a-scalable-child-chain-platform/


Announcing Ardor (Nxt 2.0), the successor to the pioneering Nxt platform, which has been an inspiration for many other successful blockchain projects.

Ardor builds on the experience we have gained from running Nxt 1.0 in production for over two and a half years, and aims to solve real world problems of scalability, privacy, currency liquidity and usability.

Ardor retains all the core features of the first version of the Nxt Blockchain, but builds and expands on Nxt 1.0 by adding secure and scalable child chains. This new flexible architecture allows users to create their own blockchains, customised to fit their needs, while drawing security from the collective ecosystem of the global Ardor platform.

Ardor is being built by a very experienced and professional developer team. The same team that built the first true Proof of Stake system, that implemented the first decentralised token trading system, the first and only fully decentralised coin shuffling implementation among many other groundbreaking features for cyryprocurrency/blockchain.

The Nxt core team has been consistently innovative since the original Nxt launch back in 2013, and many Nxt innovations have been incorporated into other projects.


The initial research phase of Ardor has passed. Pooling their experience of working on Nxt 1.0 for over two years, Core devs Jean-Luc, Riker, ScripterRon and Petko have already started the first phase of coding for Ardor.
Coding Ardor will take time. The Core Team does not want to launch an overhyped and half-finished system, but wants to make sure the new platform holds up to the high standards you have come to expect from Nxt 1.0. We consider this  to be the de-facto reference standard of stability and performance that a blockchain platform should adhere to.

Initial coding has started a few weeks ago and is expected to take at least the rest of 2016.

Testnet
At the time of writing, the Core Team aims to launch the first version of the Ardor Testnet very early in 2017. During the Testnet phase of the software, there will be many rewrites and tweaks based on user feedback and continuous use of the platform. The Testnet phase will last for at least six months to make absolutely sure the first live version will be safe and trustworthy at launch.

Mainnet
At the time of writing, it is estimated that the first live version of Ardor will launch in Q3 of 2017.

More details on the implementation cycle can be found in this thread. (Document also available for download HERE)


Ardor will retain ALL Features of the Nxt 1.0 platform.

Below you will find an outline on how each current feature will be ported to the new FNX Child Chain at launch.

Account Numbers
Account numbers are preserved. Since the mapping from secret phrase, to public key, to account id will not change, your 1.0 pass phrase will correspond to the account with the exact same number on Ardor. Existing 1.0 users will be able to login to Ardor with their existing passphrase.
The Account table will be global, and each account can have balances in any of the Child Chain tokens, as well as in Ardor.

Assets
Existing Nxt 1.0 Assets or Asset Transaction History will NOT be ported directly to the FNX Child Chain.
Since the Nxt 1.0 blockchain will continue to exist, the Core Team believes it is better to leave the choice of when and how to move to Nxt 2.0 in the hands of the Asset Issuers themselves.
This is probably best done by burning existing Assets, requiring them to be sent to the issuer account in order to issue new Nxt 2.0 Assets in exchange. Or it could be done by each asset issuer declaring a height at which they will take a snapshot of 1.0 asset balances, and then re-distributing those on Ardor.
Assets will be universal on Ardor, which means that for any Asset, regardless on which Child Chain it was originally issued, any Child Chain that will allow its trade will be able to trade it.

MS Currencies
MS Currencies themselves are also universal, and will be possible to trade on any Child Chain. MS Currency names and codes existing in Nxt 1.0 WILL be ported to the FNX Child Chain, including the currency balances for all accounts. Their transaction history will not be.
The Core Team will provide support to any MS currencies that want to transition to a Child Chain, i.e. start a Child Chain with a token distribution based on this MS currency.
MS Currency names and codes will be unique within Child Chains only. This will eliminate the possibility of name squatting across chains. The proposed format for MS Currency names will be CURRENCYNAMECODE.CHILDCHAINCODE, for instance ELEMS.FNX.

Arbitrary Messages
No Messages will be ported from 1.0 to Ardor

Tagged Data
No Tagged Data will be ported from 1.0 to Ardor

Digital Goods
No products or sales will be ported from 1.0 to Ardor

Aliases
Existing 1.0 Nxt Aliases will be ported to the FNX Child Chain. Just like with MS Currency names and codes, alias names will be unique within their Child Chain only. Globally, aliases will be appended with a Child Chain suffix, to signify which chain they belong to. By default, alias name not appended with a Child Chain suffix will be assumed to belong to the FNX Child Chain.

Voting
Voting will be available on each Child Chain.
Open or finished Polls will NOT be ported to the Ardor chain. Running polls will need to finish on the Nxt 1.0 chain.

Phasing
Phasing will be available on each side chain.
Current Account Control Setting will NOT be ported to the new FNX Child Chain.

Leasing
Account Leasing will be retained, but on the FXT Main Chain only, as only FXT balances are used to provide blockchain security (forge). Existing 1.0 Leases will not be transferred but will have to be recreated.

Plugins
Ardor will support Plugins, but existing Plugins will need fixes to work with the new Ardor platform.


What will happen to 1.0?

The Nxt Core Devs are committed to providing support, bug fixes and any possible emergency updates for the Nxt 1.0 chain.
It will not be necessary to burn your 1.0 coins to receive Ardor tokens, and you are free to trade your Ardor Tokens which you will receive after the snapshot period has ended.

The Core Team wants to make migrations to Ardor as easy as possible, so is allowing a wide window for making this move.
In short, nothing will change for Nxt 1.0, except that active work on new features will come to a halt. The platform will be actively maintained, so users will still benefit from a secure and well-kept platform.
The Core Team will also provide help and support for users that wish to move their enterprises from Nxt 1.0 to Ardor.


Ardor’s prime innovation is to split the blockchain into a main chain that is used for consensus creation only, and multiple child chains that keep separate ledgers of transactions, each child chain using its own coin/token..

This means that there will initially be two distributions of tokens: one for the main chain token (Ardor), and one for the token for the first child chain to be launched (for now called FNX).

The Core Developers recognise the tremendous contributions of the investors and holders of the original Nxt 1.0, without whom Ardor would not be possible, and have decided to grant them exclusive rights to these new tokens.

It is important to note that Ardor does not mean Nxt 1.0 will cease to exist! The Core Team is committed to continue providing support to Nxt 1.0 for at least one year after the Ardor launch, and possibly further.

There will be no burning of Nxt 1.0 needed in order to receive either Ardor or FNX Tokens.

Distribution:

Ardor (Main Chain Tokens)
All NXT holders are eligible to receive Ardor Tokens at launch of the Mainnet.
Shortly after the release of Nxt 1.9, (intended to be the last major release on the Nxt 1.0 branch) the Nxt Software will start taking periodic snapshots of all users' NXT balances, at regular intervals (most likely once an hour), for a period of three months.
The NXT balances in each account will be averaged over this full three month period, and at the end all accounts will be automatically credited with a token representing their Ardor holdings, issued as an Asset on the Nxt asset exchange.
This Ardor Asset will be freely tradeable.
The distribution of the real Ardor coins (to be done at the launch of the Ardor Mainnet in Q3 2017) will be based on the ownership of Ardor Assets on the 1.9 blockchain, taken at the point of time when the Ardor Genesis block is created, shortly before that launch.

FNX (Transaction Tokens for the FNX Child Chain)
The distribution of the FNX Token will be based on each account’s NXT holdings at the time of the Ardor Genesis block creation.
At the time of writing, the Core Devs have decided to credit 50% of these holdings to each new FNX Account, while reserving 50% of FNX for funding of the development team, business development and other operations that will need funding to make the Ardor project a success.
The Core Devs acknowledge that not including this step in the distribution of 2013 was a mistake in the first place, which has left the project chronically underfunded. As a donation based model is not sustainable, they decided to opt for the allocation of 50% for project development and sustainability.
« Last Edit: July 22, 2016, 02:06:55 pm by Damelon »
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farl4bit

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Re: Announcing Nxt 2.0 Roadmap
« Reply #1 on: May 23, 2016, 06:46:26 pm »

Professional, solid, informative and great to see development updates for the future of Nxt! We keep creating good and solid software which is needed to gain traction in the blockchain world. Amazing!!!  :o
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blackyblack1

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Re: Announcing Nxt 2.0 Roadmap
« Reply #2 on: May 23, 2016, 07:17:20 pm »

Quote
MS Currency names and codes existing in Nxt 1.0 WILL be ported to the FNX Child Chain
Quote
Existing Nxt 1.0 Assets or Asset Transaction History will NOT be ported directly to the FNX Child Chain.
Why is this difference? Internally both MS and Assets are the same thing. Why have you decided to not port assets?

Quote
Current Account Control Setting will NOT be ported to the new FNX Child Chain.
Do I understand it right that multisig accounts are no longer multisig on the FNX chain?

Quote
they decided to opt for the allocation of 50% for project development and sustainability.
Well it's 50% dilution but I can live with it.
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farl4bit

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Re: Announcing Nxt 2.0 Roadmap
« Reply #3 on: May 23, 2016, 07:18:07 pm »



Use and share if you like!  :)
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VanBreuk

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Re: Announcing Nxt 2.0 Roadmap
« Reply #4 on: May 23, 2016, 07:33:21 pm »

Thank you for a much needed update :)

And it's good to read that development funds will be secured. I remember I did suggest somewhere to do a 50% split in the main chain token, but preserving a 1:1 distribution on the main chain and reserving from the transactional token is a better solution.
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alex0909

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Re: Announcing Nxt 2.0 Roadmap
« Reply #5 on: May 23, 2016, 07:38:04 pm »

Great roadmap, it's going to be a bumpy ride until then, but when you see what NXT has delivered in the past this release will be epic. Can we maintain an auditable use of FNX coins to boost confidence? I believe transparency pairs with financial compensation in a good way, please keep this in mind. 

At this price it's a cheap IPO when you compare to the lisk IPO prices !

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KarlKarlsson

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Re: Announcing Nxt 2.0 Roadmap
« Reply #6 on: May 23, 2016, 07:41:34 pm »

Thanks a lot for the detailed roadmap! I firmly believe Nxt has a good chance of competing in the whitelabel blockchain market after reading both threads, the proposal sounds absolutely achievable.

 Looking forward to hearing updates from the dev team regarding the ongoing development  :)
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NxtSwe

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Re: Announcing Nxt 2.0 Roadmap
« Reply #7 on: May 23, 2016, 07:51:26 pm »

Great work!
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Brangdon

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Re: Announcing Nxt 2.0 Roadmap
« Reply #8 on: May 23, 2016, 07:56:26 pm »

Quote
Current Account Control Setting will NOT be ported to the new FNX Child Chain.
Do I understand it right that multisig accounts are no longer multisig on the FNX chain?
It also sounds like multi-sig accounts won't be possible at all on the FXT chain.
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Joggy1986

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Re: Announcing Nxt 2.0 Roadmap
« Reply #9 on: May 23, 2016, 07:57:59 pm »

Well done, hope it wil get a lot of attention. Looks like a great solution with a lot of potential.
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Damelon

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Re: Announcing Nxt 2.0 Roadmap
« Reply #10 on: May 23, 2016, 08:04:04 pm »

Quote
Current Account Control Setting will NOT be ported to the new FNX Child Chain.
Do I understand it right that multisig accounts are no longer multisig on the FNX chain?
It also sounds like multi-sig accounts won't be possible at all on the FXT chain.

Phasing will be possible on the child chains.
Whether it's possible on the FXT chain remains to be seen. (This is how I understood it)
Perhaps Jean Luc can lean in on this.
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wolffang

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Re: Announcing Nxt 2.0 Roadmap
« Reply #11 on: May 23, 2016, 08:38:12 pm »

Awesome!!! A lot of excitement!!  ;D
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Brangdon

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Re: Announcing Nxt 2.0 Roadmap
« Reply #12 on: May 23, 2016, 08:56:53 pm »

Quote
Current Account Control Setting will NOT be ported to the new FNX Child Chain.
Do I understand it right that multisig accounts are no longer multisig on the FNX chain?
It also sounds like multi-sig accounts won't be possible at all on the FXT chain.

Phasing will be possible on the child chains.
Yes, but it sounds like the settings won't be ported, so a NXT 1.0 multi-sig account will become a single-sig FNX account, until its owner sets it up as multi-sig again. This means the other signatories have to trust the owner to actually do that. I don't know if this is a real issue or just an academic one, but it does sound like a loophole in multi-sig security.
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wolffang

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Re: Announcing Nxt 2.0 Roadmap
« Reply #13 on: May 23, 2016, 08:59:13 pm »

Don't we need climate friendly on the announcement? ;)
In comparison with PoW?
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Brangdon

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Re: Announcing Nxt 2.0 Roadmap
« Reply #14 on: May 23, 2016, 09:01:23 pm »

Can I just say how much I hate the names "FXT" and "FNX"? I find it very hard to remember which is which. Is there a trick to it? Do the letters mean something?
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Damelon

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Re: Announcing Nxt 2.0 Roadmap
« Reply #15 on: May 23, 2016, 09:06:14 pm »

Can I just say how much I hate the names "FXT" and "FNX"? I find it very hard to remember which is which. Is there a trick to it? Do the letters mean something?

They are placeholders.
No meaning is attached to them other than to distinguish between tokens for now.

Personally, I am still all for a rebrand at 2.0.
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rubenbc

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Re: Announcing Nxt 2.0 Roadmap
« Reply #16 on: May 23, 2016, 09:10:52 pm »

Thanks coreteam and Tennessee for this great update!
Great to stay here :)

lurker10

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Re: Announcing Nxt 2.0 Roadmap
« Reply #17 on: May 23, 2016, 09:29:00 pm »

Right on with the roadmap!
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wolffang

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Re: Announcing Nxt 2.0 Roadmap
« Reply #18 on: May 23, 2016, 09:41:52 pm »

Thnx coreteam and nxt foundation!

Couldn't choose a better moment!  ;D
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Sebastien256

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Re: Announcing Nxt 2.0 Roadmap
« Reply #19 on: May 23, 2016, 10:15:11 pm »

Great roadmap and looking forward! Keep up the good work!  :)
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