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What is going on?
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Author Topic: What is going on?  (Read 807 times)

Benzedi

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What is going on?
« on: March 30, 2016, 03:38:19 pm »

Hi guys,

I haven't managed to follow the hundreds of posts and threads going on regarding the future of NXT.

Can someone please summarise for me what is going on?

Stuff like:

1. Is NXT being rebranded?
2. Is there going to be an ipo?
3. If so how will existing NXT holders be affected?
4. What is fNXT?
5. Is fNXT happening?
6. Will it be called fNXT?
7. With the future of NXT being developed how will current NXT holders be compensated e.g. will NXT holders receive new currency at 1:1?

Sorry if these overlap. Just trying to gauge everything.

Thanks if someone can help!
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Damelon

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Re: What is going on?
« Reply #1 on: March 30, 2016, 03:58:10 pm »

Hi Benzedi,

It's all very confusing, and I think we all could do with some clarity in where we are now.

So I will try to help out a bit.

Quote
1. Is NXT being rebranded?

It's under discussion, but hasn't been decided yet.
Most of the discussion about this can be found here: https://nxtforum.org/general-discussion/new-name-ideas-of-nxt-%28easier-to-find-on-google-f-e-%29/

Quote
2. Is there going to be an ipo?

This is also being discussed, but nothing decided yet.
The discussion started here: https://nxtforum.org/general-discussion/time-for-drastic-measures-nxt-2-0-the-nxt-phoenix/
Then, I decided to put up a few polls about it, and that lead to more discussion here: https://nxtforum.org/general-discussion/%28poll%29-the-ipo-idea/

The underlying issue is the funding for the whole project. An IPO is just one of the ways to solve this, so other methods are being discussed, too
https://nxtforum.org/general-discussion/nxt-a-business-model-smart-fees/
https://nxtforum.org/general-discussion/a-modest-proposal/

Quote
3. If so how will existing NXT holders be affected?

Because the issue is not decided, there can be no answer to this yet.
It's part of the whole discussion at the moment.

Quote
4. What is fNXT?

fNxt is the proposed new forging token that will be used in Nxt 2.0.
Discussion about Nxt 2.0 can be found here: https://nxtforum.org/core-development-discussion/nxt-2-0-design/

Quote
5. Is fNXT happening?

Jean Luc is going to code it, that is for sure: https://nxtforum.org/core-development-discussion/nxt-2-0-design/msg210387/#msg210387
What is not yet decided is what form the transition will take. This is still being discussed.

Quote
6. Will it be called fNXT?

This is part of the rebranding issue in question #1.
Being decided. Look in the thread there for ideas.

Quote
7. With the future of NXT being developed how will current NXT holders be compensated e.g. will NXT holders receive new currency at 1:1?

Also, still under discussion in a few places:

https://nxtforum.org/core-development-discussion/%28foundation-poll%29-looking-for-options-ratios-for-fnxt-to-nxt/
https://nxtforum.org/core-development-discussion/%28foundation-poll%29-when-should-a-snapshot-be-taken/

Also other places in all the proposals being made.

Please ask for more clarification if needed. I am sure this is good for everyone to know :)
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websioux

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Re: What is going on?
« Reply #2 on: March 30, 2016, 05:59:48 pm »

Damelon tries to be neutral so you ends up with the links you don't want to read  :D

I'm not neutral but I can sum up.

1. Is NXT being rebranded?
Nobody wants it but we know that trademarking is an issue that can cause us (at least some of us) legal problem. Since 2.0 is in the air, it was thought a good opportunity to brainstorm around as it could also be an opportunity to transform anticipation of a potential futur problem in a marketing card. No hurry on this subject.

2. Is there going to be an ipo?
I don't want it but I don't know if it will be.

3. If so how will existing NXT holders be affected?
The original idea is to create the fNxt based on 1nxt gives 1fNxt but the IPO idea consist on something like 1nxt gives you (1-x%)fNxt such that x%fNxt can be sold during IPO to create funds for the devs.

4. What is fNXT?
2.0 is about solving the scalability issue. You have forging on fNxt which can only do the basic transactions. And then you have chidchains, NXT is one of them. Childchains are used for the large amount of transactions, messaging, payment, asset exchange bid etc.. They are regularly pruned and only a hash of a snapshot is kept in the main fNxt chain. So most of the data disapears while we keep a path down to the genesis via fNxt which remains reasonably small whatever activity on the childchains. On this subject folllow Damelon link and carefully reads the OP by JL.

5. Is fNXT happening?
JL said he started to work on it.

6. Will it be called fNXT?
We hope to find a better one, this one is just for "forge nxt" used by JL in the 2.0 proposal. Your suggestions are welcome.
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