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[PRE-ANN] Time to go further. New Chain is coming.
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Author Topic: [PRE-ANN] Time to go further. New Chain is coming.  (Read 20474 times)

coinomat

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[PRE-ANN] Time to go further. New Chain is coming.
« on: February 19, 2016, 09:31:32 am »

We will be launching a new blockchain-based decentralized network, with user-defined tokens issue and transfer.

It will be based on following principles:

1. Does not support scripting on core level. New transaction types are supported through plug-in system and soft forks.
Decentralized contracts might be realized in future based on "proof of execution" and supernodes approach.

2. POS consensus. Improvements to counter the "nothing-at-stake" argument will be considered, but plain-vanilla POS is deemed to be "secure enough"

3. Main focus is on usability and connection to "real world" economy

- At launch fiat and BTC assets are supported.  Fiat assets are backed by existing fiat payment systems/banks.

- Asset to asset swap/trading is supported on the core level, which allows to offer quasi stock exchange user experience, with trading against fiat currencies.

- User-friendly interface resembling online banking or online broker interfaces. Realized as a browser plugin.
Basically users have a full-scale crowdfunding/trading platform right at launch, with native fiat currencies support. User experience is close to usual financial website experience.

4. Reputation system is considered to be vital, and will be realized soon after the launch. It will be based on voting system which is an integral part of the core. Also account activity will be used to define the account karma (issued assets, transactions volume etc).

5. Scalability is considered to be the main problem which will need to be tackled eventually, and some basic scalability improvements will have to be made on the core level right from the start. 

6. Strict development practices. All major changes in the core should be approved by the stakers community through voting.

7. The client will be coded in low-level programming language (C/C++)

All in all the network has a "NXT Classic" feel, with improved user-friendliness, strict development practices, connection to existing fiat networks, and high-load ready.

We have several major NXT ecosystem contributors already on our team. Currently the developers team is being finalized, and we will be coding it fast. If you want to join us you know how to reach me :)

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Sebastien256

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #1 on: February 19, 2016, 09:34:17 am »

If you release a new blockchain, what will be the token distribution mecahnism?
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allwelder

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #2 on: February 19, 2016, 09:41:16 am »

Based on NXT chain or other?
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coinomat

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #3 on: February 19, 2016, 09:42:00 am »

If you release a new blockchain, what will be the token distribution mecahnism?
We will do a pre-sale. Also NXT assets can be moved to the new platform, through the proof-of-burn on NXT blockchain.
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coinomat

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #4 on: February 19, 2016, 09:42:30 am »

Based on NXT chain or other?
No, it will be an independent chain.
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Sebastien256

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #5 on: February 19, 2016, 09:43:14 am »

The release is plan for when?
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coinomat

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #6 on: February 19, 2016, 09:47:38 am »

The release is plan for when?
I want to have the test network ready in three months.
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Sebastien256

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #7 on: February 19, 2016, 09:50:42 am »

So what happen to your current asset on Nxt the ecosystem?

To be honest, this sound a like a leaving ship move and sound a like a bad new, not a good one.  :(

I don't see problems with Nxt platform from the point of view of your usage and I have difficulty understanding the need of a new blockchain, seriously!

« Last Edit: February 19, 2016, 09:58:49 am by Sebastien256 »
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lurker10

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #8 on: February 19, 2016, 09:56:23 am »

Does this belong in Alternative currencies subforum?
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coinomat

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #9 on: February 19, 2016, 09:58:23 am »

So what happen to your current asset on Nxt the ecosystem?

To be honest, this sound a like a leaving ship move and sound a like a bad new, not a good one.  :(

I don't see problems with Nxt platform for the point of view of your usage and I have difficulty understanding the need of a new blockchain, seriously!
All my assets will be moved to the new platform, so there will be no financial loss to asset holders. All dividend payouts will made in BTC/Fiat.
Also all my NXT projects will be supported, including coinomat, nxtcrowd.fund and others.
I don't wanna fight wars with current NXT dev's, wish NXT all the best, but my view of what NXT should be is exactly opposite to theirs.
« Last Edit: February 19, 2016, 10:00:43 am by coinomat »
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coinomat

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #10 on: February 19, 2016, 09:59:51 am »

Does this belong in Alternative currencies subforum?
Probably not, since it has relevance to NXT assets.
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Sebastien256

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #11 on: February 19, 2016, 10:00:06 am »

Why not creating a centrlized trading platform for your need?
A blockchain seems overkill.
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lurker10

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #12 on: February 19, 2016, 10:00:13 am »

I have difficulty understanding the need of a new blockchain, seriously!

It's normal, the future will be many blockchains. Every company or community will want their own. That is why NXT need to move to NXT 2.0 design asap to gather many semi-independent (with no in-house coders) blockchains under its umbrella. If it doesn't, it will be one of many of the same rank. NXT has a competitive advantage to move beyond and above that.
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coinomat

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #13 on: February 19, 2016, 10:02:12 am »

Why not creating a centrlized trading platform for your need?
A blockchain seems overkill.
We'll do that too.
I'll try to re-launch SAE based on Kushti's backend.
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Sebastien256

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #14 on: February 19, 2016, 10:06:51 am »

But why don't you wait for Nxt 2.0 to launch your blockchain on Nxt? Does not that sound ironic?
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bob_ggg

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #15 on: February 19, 2016, 10:07:44 am »

Using BTC as THE internal currency is essential. It is the only asset liquid enough in the currency space. Fiat opens up the issue of counterparty trust and KYC.

If you start the development process with the clear support of programmable transactions with supernodes, you add a key feature enough for me to participate to the presale/IPO.
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LocoMB

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #16 on: February 19, 2016, 10:08:45 am »

But why don't you wait for Nxt 2.0 to launch your blockchain on Nxt? Does not that sound ironic?

Because NXT2.0 is supposed to not happen for at least a YEAR?
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Sebastien256

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #17 on: February 19, 2016, 10:10:53 am »

But why don't you wait for Nxt 2.0 to launch your blockchain on Nxt? Does not that sound ironic?

Because NXT2.0 is supposed to not happen for at least a YEAR?

But coinomat want his testnet in 3 months (if no delay, but there is always delay). Sound to me that they will make a lot of work to launch their blockchain while they could use their ressources for something more productive.
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martismartis

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #18 on: February 19, 2016, 10:12:22 am »

So what happen to your current asset on Nxt the ecosystem?

To be honest, this sound a like a leaving ship move and sound a like a bad new, not a good one.  :(

I don't see problems with Nxt platform for the point of view of your usage and I have difficulty understanding the need of a new blockchain, seriously!
All my assets will be moved to the new platform, so there will be no financial loss to asset holders. All dividend payouts will made in BTC/Fiat.
Also all my NXT projects will be supported, including coinomat, nxtcrowd.fund and others.
I don't wanna fight wars with current NXT dev's, wish NXT all the best, but my view of what NXT should be is exactly opposite to theirs.

So, present holders of your assets will need to install new client, download new blockchain, trade them on new platform?
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maddy83

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #19 on: February 19, 2016, 10:17:20 am »

But why don't you wait for Nxt 2.0 to launch your blockchain on Nxt? Does not that sound ironic?

Maybe he is not happy with the direction where NXT 2.0 is heading?
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