Topic: Announcing Nxt 2.0 Roadmap (Read 60917 times)

allwelder · « **Reply #20 on:** May 23, 2016, 10:30:18 pm »

WOW

Thanks.

Two questions about the distribution ratio:
1) NXT:FXT=1:1
2) NXT:FNX=1:0.5

Right?

Damelon · « **Reply #21 on:** May 23, 2016, 10:36:54 pm »

Quote from: allwelder on May 23, 2016, 10:30:18 pm

WOW
Thanks.

Two questions about the distribution ratio:
1) NXT:FXT=1:1
2) NXT:FNX=1:0.5

Right?

Better to describe it as:

NXT:FXT Asset=1:1 (tradeable before launch)
NXT:FNX=1:0.5

The fact that people can trade their FXT Assets is important.

HCLivess · « **Reply #22 on:** May 23, 2016, 11:01:46 pm »

getiing dem coinos!

apenzl · « **Reply #23 on:** May 23, 2016, 11:20:42 pm »

+1440% memetime.

Quote

And it's good to read that development funds will be secured.

I fully support this.

Amazing roadmap. Well thought out.
And now we can work again. There's a word to spread, not just the uncertainty.

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In short, nothing will change for Nxt 1.0

Quote

The Core Team will also provide help and support for users that wish to move their enterprises from Nxt 1.0 to 2.0.

Eckhart Tolle · « **Reply #24 on:** May 23, 2016, 11:37:03 pm »

I see a lot of presence in that roadmap.

lsteele2016 · « **Reply #25 on:** May 23, 2016, 11:56:51 pm »

Please pardon an ignorant question but fairly recently crossed over into the nxt world and still a bit behind the curve.
What do the terms 'nxt holdings' and 'nxt balances' mean: NXT coins only, the account's nav, or something else ?

CreativeDestruction · « **Reply #26 on:** May 24, 2016, 01:28:47 am »

NXT +12% on Poloniex just because the announcing, think when NXT 2.0 launch.

Cassius · « **Reply #27 on:** May 24, 2016, 08:36:37 am »

Ok, interesting stuff.
I'm intrigued about the step of funding development with the transactional token, the child chain token (and yes, please can we rebrand and find some different names for these?!). This was the token that people argued would be badly devalued by 2.0. What's the thinking here?

Damelon · « **Reply #28 on:** May 24, 2016, 09:20:05 am »

Quote from: lsteele2016 on May 23, 2016, 11:56:51 pm

Please pardon an ignorant question but fairly recently crossed over into the nxt world and still a bit behind the curve.
What do the terms 'nxt holdings' and 'nxt balances' mean: NXT coins only, the account's nav, or something else ?

The term "Nxt Holdings" in this instance means "coins".

wolffang · « **Reply #29 on:** May 24, 2016, 09:35:12 am »

Quote from: Cassius on May 24, 2016, 08:36:37 am

Ok, interesting stuff.
I'm intrigued about the step of funding development with the transactional token, the child chain token (and yes, please can we rebrand and find some different names for these?!). This was the token that people argued would be badly devalued by 2.0. What's the thinking here?

Hi Cassius,

You can have a look at this topic
https://nxtforum.org/general-discussion/new-name-ideas-of-nxt-(easier-to-find-on-google-f-e-)/220/

Cassius · « **Reply #30 on:** May 24, 2016, 09:54:32 am »

Quote from: wolffang on May 24, 2016, 09:35:12 am

Quote from: Cassius on May 24, 2016, 08:36:37 am
Ok, interesting stuff.
I'm intrigued about the step of funding development with the transactional token, the child chain token (and yes, please can we rebrand and find some different names for these?!). This was the token that people argued would be badly devalued by 2.0. What's the thinking here?

Hi Cassius,

You can have a look at this topic
https://nxtforum.org/general-discussion/new-name-ideas-of-nxt-(easier-to-find-on-google-f-e-)/220/

Yes, I've seen that

I'm more interested in the economic implications of devs using child chain tokens for funding.

danisapfirov · « **Reply #31 on:** May 24, 2016, 11:00:21 am »

Great News! Finally NXT platform is heading to partitioning and scalability.
Dan Highes has designed eMunie with 1024 partitions, Vitalik Buterin is talking about implementing sharding to Ethereum and now NXT is reinventing itself by offering sidechains to improve scalability.
I wish a lot of success to dev team and hope NXT will attract a lot users and businesses.

Nothing against WAVES I wish them success but now they look to me as one NXT sidechain gone rogue.

Sorry coinomat nothing personal.

Brangdon · « **Reply #32 on:** May 24, 2016, 02:01:05 pm »

Quote from: blackyblack1 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?

The key thing here is that we are talking about assets getting cloned, because the Nxt 1.0 block-chain is (as I understand it) going to be left untouched. Nothing on Nxt 1.0 will be burned or forcibly moved to 2.0. So, some assets represent IOUs and there's no point cloning them if nobody backs them. For example, cloning a Nxt 1.0 asset backed by a weight of silver won't clone the silver. Same with the digital goods store.

This doesn't explain why MS currencies are being cloned; perhaps they just don't represent IOUs in the same way. Or perhaps they are just being treated on a par with NXT, and because NXT get cloned to FNX, MS coins get cloned too.

Quote

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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.

It's complicated. It's 50% of the transactional token, so some smaller fraction of the total (forging + transactional) value of your NXT 1.0 depending on how much the forging power is worth. And it sounds like NXT 1.0 will continue running indefinitely, with nothing getting forcibly burnt on it, so arguably the 50% of FNX being held back is actually only 1/6th of the total number of coins (NXT + FXT + FNX) that we will end up with, and perhaps 1/8th of the value.

Nxt 2.0 is looking more like a new alt-coin that will co-exist with and compete with Nxt, rather than an evolution of Nxt. Since Nxt 1.0 will continue, you arguably aren't getting diluted at all. The new alt-coin doesn't owe you anything because it is new.

I've no idea how this is going to work out. With neither Assets nor Digital Goods being transferred by default, I wonder whether all the activity (such as it is) will remain with Nxt 1.0, and 2.0 will go the way of most new alt-coins. That its initial distribution is taken from Nxt 1.0 will not be seen as a good thing by outsiders.

Quote from: VanBreuk on May 23, 2016, 07:33:21 pm

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.

Presumably reserving 50% of the main token would be a security/trust issue in that whoever held on to them could use them to launch a 50% attack. Owning over 50% of the transactional token has fewer, if any, security implications.

Damelon · « **Reply #33 on:** May 24, 2016, 02:12:14 pm »

Quote from: Brangdon on May 24, 2016, 02:01:05 pm

Quote from: blackyblack1 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?
The key thing here is that we are talking about assets getting cloned, because the Nxt 1.0 block-chain is (as I understand it) going to be left untouched. Nothing on Nxt 1.0 will be burned or forcibly moved to 2.0. So, some assets represent IOUs and there's no point cloning them if nobody backs them. For example, cloning a Nxt 1.0 asset backed by a weight of silver won't clone the silver. Same with the digital goods store.

This doesn't explain why MS currencies are being cloned; perhaps they just don't represent IOUs in the same way. Or perhaps they are just being treated on a par with NXT, and because NXT get cloned to FNX, MS coins get cloned too.

MS Currency names are unique, whereas Asset names are not.
This has to be preserved for this reason, which is why they move to the new child chain, where they also will be unique.
By the same reasoning, Aliases are moved, too.

blackyblack1 · « **Reply #34 on:** May 24, 2016, 04:16:35 pm »

Quote from: Damelon on May 24, 2016, 02:12:14 pm

Quote from: Brangdon on May 24, 2016, 02:01:05 pm
Quote from: blackyblack1 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?
The key thing here is that we are talking about assets getting cloned, because the Nxt 1.0 block-chain is (as I understand it) going to be left untouched. Nothing on Nxt 1.0 will be burned or forcibly moved to 2.0. So, some assets represent IOUs and there's no point cloning them if nobody backs them. For example, cloning a Nxt 1.0 asset backed by a weight of silver won't clone the silver. Same with the digital goods store.

This doesn't explain why MS currencies are being cloned; perhaps they just don't represent IOUs in the same way. Or perhaps they are just being treated on a par with NXT, and because NXT get cloned to FNX, MS coins get cloned too.

MS Currency names are unique, whereas Asset names are not.
This has to be preserved for this reason, which is why they move to the new child chain, where they also will be unique.
By the same reasoning, Aliases are moved, too.

It hardly explains anything. Why non unique names cannot be ported? Why assets are global and MS are not.
It looks like an arbitrary decision what to do global and what to port.

lurker10 · « **Reply #35 on:** May 24, 2016, 04:27:04 pm »

Quote

All NXT holders are eligible to receive FXT 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

I am curious how this will be rolled out.
If I keep NXT in my account for 3 months and sell everything on the last day of the snapshot period, I'm still eligible to receive FXT?

VanBreuk · « **Reply #36 on:** May 24, 2016, 04:37:46 pm »

Quote from: lurker10 on May 24, 2016, 04:27:04 pm

Quote
All NXT holders are eligible to receive FXT 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

I am curious how this will be rolled out.
If I keep NXT in my account for 3 months and sell everything on the last day of the snapshot period, I'm still eligible to receive FXT?

You could also receive FXT with a single time snapshot and dump all your NXT right afterwards, there's hardly a way to prevent people taking advantage of/abusing timing.

lurker10 · « **Reply #37 on:** May 24, 2016, 04:43:16 pm »

Quote from: VanBreuk on May 24, 2016, 04:37:46 pm

Quote from: lurker10 on May 24, 2016, 04:27:04 pm
Quote
All NXT holders are eligible to receive FXT 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

I am curious how this will be rolled out.
If I keep NXT in my account for 3 months and sell everything on the last day of the snapshot period, I'm still eligible to receive FXT?

You could also receive FXT with a single time snapshot and dump all your NXT right afterwards, there's hardly a way to prevent people taking advantage of/abusing timing.

I guess my real question then what is the advantage of this averaging over three months to a one time snapshot of balances on a set date.

ThomasVeil · « **Reply #38 on:** May 24, 2016, 08:32:29 pm »

Quote from: Brangdon on May 24, 2016, 02:01:05 pm

Nxt 2.0 is looking more like a new alt-coin that will co-exist with and compete with Nxt, rather than an evolution of Nxt. Since Nxt 1.0 will continue, you arguably aren't getting diluted at all. The new alt-coin doesn't owe you anything because it is new.

Jeez, that sounds like a major headache. ... So there will be then three currencies I have to keep track of?
And then wouldn't everyone dump their oldNXT as soon as the snapshot is done? Because surely the idea is that the new NXT takes over the old one.

And why is the "snapshot averaging" done for FXT but not FNT of the currencies? Why not do it the same for both?

I assume FXT is somehow for doing transfers and value keeping? And FNT just for forging stuff? How will each of them retain value? Why shouldn't people just decide to use FNT like they used NXT?

It will take me quite some time to wrap my head around this. But it's good that NXT takes these steps forward - in line with the original ideas BCNext laid out. Standing still isn't an option. Respect for the plan, and good luck!

(I'm personally a fan of the name NXT though)

VanBreuk · « **Reply #39 on:** May 24, 2016, 11:10:53 pm »

Quote from: lurker10 on May 24, 2016, 04:43:16 pm

Quote from: VanBreuk on May 24, 2016, 04:37:46 pm
Quote from: lurker10 on May 24, 2016, 04:27:04 pm
Quote
All NXT holders are eligible to receive FXT 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

I am curious how this will be rolled out.
If I keep NXT in my account for 3 months and sell everything on the last day of the snapshot period, I'm still eligible to receive FXT?

You could also receive FXT with a single time snapshot and dump all your NXT right afterwards, there's hardly a way to prevent people taking advantage of/abusing timing.

I guess my real question then what is the advantage of this averaging over three months to a one time snapshot of balances on a set date.

An average should get a better estimate of who is actually forging. A snapshot could accidentally grab a lot of NXT in a transit account that never forged a block.

News:

Author Topic: Announcing Nxt 2.0 Roadmap (Read 60917 times)