Just 4 days ago were invited different actors, models or speakers to the Paypal headquarters to make a video that was just released:
It is definitely teasing a cooperation between Paypal and Bitcoin.
We already know this is no error, as you can see it from the tweets:
Jac Vanek @jacvanek · 4. 9.
Did a lil somethin w/ @PayPal & @davepeck & I was too busy looking like a dork to take any pics 📷: @TheSharkDaymond
A photographer Jac Vanek made a photoshoot for the video, where were Kendra Mckenzie or Daymond John and all others.
You can find Daymond John in the 24th 52nd second...
And compare their tweets:
Daymond John @TheSharkDaymond · 4. 9.
.@davepeck @JeremySpund thanks Dave and @PayPal We had a Blast!
Kendra Mckenzie @kendramckenzie_ · 4. 9.
Spending the day being a sexy fit model for my best friend @jacvanek 💁 wish I could tweet photos but I can't spill secrets!!
And some other mentions:
Spund City @JeremySpund · 4. 9.
Thank you @paypal @davepeck and the mistresscreative team for the great hospitality today! It was fun!… http://instagram.com/p/sijQ1NlagY/
Dave Peck from Paypal social team was organizing the whole thing probably.
TLDR: This thing is definitely real, but it also happened very fast. They really wanted to make it happen before the Apple announcement :)
Monday, September 8, 2014
Wednesday, July 30, 2014
University of Economics in Prague NXT project
The text was written by: HassenBlasques
Hello,
I am going to run a project with students of the University of Economics in Prague. I got inspired by this thread: https://nxtforum.org/general-discussion/%28ann%29-nxt-academic-outreach-program/100/, where the NXT Academic Outreach Program (NAOP) was announced. I have already published my plans in the thread.
I am a PhD student and a teacher at University of Economics in Prague. I work at the Department of World Economy. I would like my students to get to know Nxt and cryptos in general and write economic papers about the ways they may be used in a useful way for both individuals and global economy. The head of our department supported the project so that I can work with not only my own students but with hundreds of students on the Faculty of International Relations, potentially.
I want to create a wallet for every student that volunteers for the project and give away 500-1000 Nxt to each participant. Such amount is motivating enough - taking in account the level of income in Prague – but not yet too high to attract someone who would not be interested in Nxt.
I want my students not only to get to know Nxt and learn how to use it in practice. I want them to think about its utilization in global economy too. Students' papers (or even theses) should emerge from the project, bringing interesting new ideas. I also hope that Nxt would start being used at the university as a currency for students' projects, proving it is a vival and liquid tool for community activities. I have prepared several interesting topics; nevertheless, I am going to let the participants to come up with their own topics too, naturally. These are some suggestions:
- Nxt as a reserve currency
- asset exchange - startups, crowdfunding
- currencies built upon Nxt AE
- currencies collateralized by resources
- electronic money for Africa
- save money transfers for migrant workers
- private currencies in form of firms’ IOUs and their aggregation
- contracts within blockchain
- accepting Nxt payments (including a study of benefits)
- marketing, advertisement
- encrypted uncensored communication
- utilization of the net’s hashing power (more of a topic for proof of work cryptos but still)
- hashing power as a flow-type currency
- popularization of Nxt at the university, its usage among the academic community
The participants can work on their own as well as in small teams. My role in the project would be supervising, consultancy and evaluation of the papers. I am going to write a paper concerning the project and its outcomes too. As far as I know, there is only one such project running – at MIT. And the MIT project is concerned with IT specialists. Mine would, on the other hand, involve economists. Knowing this, I suppose my paper could be accepted in an influential scientific journal with impact. I believe that a recognition by a scientific community would significantly help Nxt to retain and strengthen its position among the most important crypto-currencies. I also hope the students of economics can invent some new interesting ways how to use Nxt and its net and community. All their papers will be available for promoting Nxt.
On top of the papers, I will monitor the way the students have used their Nxt coins (to the degree the blockchain allows me to). Some of them may exchange it for fiat immediately, some of them may try to speculate, some may examine its various functions, some may decide to multiply the initial amount e.g. by accepting Nxt in their own businesses. I would like to stimulate them by awarding the 3 participants with the highest number of Nxt on their wallet in the end of the project with an additional Nxt reward.
Last but not least, I would like to repeat the project at a different university next semester, after it would prove itself to be worthy. I am going to be a doctoral exchange student. I am considering applying for University of Nicosia on Cyprus, where they run a Bachelors program concerning crypto-currencies. My own specialization is Alternative monetary solutions. I have already written and published several articles on this topic, including this one about Nxt: https://nxtforum.org/general-discussion/nxt-papers-whitepapers-academic-and-economic/ (Economic Parameters of Nxt).
We could also connect our students to Nxters via videochats, so that we can have some QA discussion sessions or we can stream the student presentations to the world. Potentially, some Nxt developers or promoters could visit the students face to face.
Since I don’t have resources for supporting the project, I am kindly asking the Nxt community to crowdfund the project. If you like the idea, please send a contribution to this address I opened solely for the purpose of crowdfunding of this project: 13727074986936672578 / NXT-7AC4-Z4SS-UNXK-DX42X. The more money I acquire, the more students I can involve. I would like to work with 30 - 100 students.
I am also very open to your suggestions, comments, critique here: https://nxtforum.org/nxt-projects/university-of-economics-in-prague-nxt-project/
Hello,
I am going to run a project with students of the University of Economics in Prague. I got inspired by this thread: https://nxtforum.org/general-discussion/%28ann%29-nxt-academic-outreach-program/100/, where the NXT Academic Outreach Program (NAOP) was announced. I have already published my plans in the thread.
I am a PhD student and a teacher at University of Economics in Prague. I work at the Department of World Economy. I would like my students to get to know Nxt and cryptos in general and write economic papers about the ways they may be used in a useful way for both individuals and global economy. The head of our department supported the project so that I can work with not only my own students but with hundreds of students on the Faculty of International Relations, potentially.
I want to create a wallet for every student that volunteers for the project and give away 500-1000 Nxt to each participant. Such amount is motivating enough - taking in account the level of income in Prague – but not yet too high to attract someone who would not be interested in Nxt.
I want my students not only to get to know Nxt and learn how to use it in practice. I want them to think about its utilization in global economy too. Students' papers (or even theses) should emerge from the project, bringing interesting new ideas. I also hope that Nxt would start being used at the university as a currency for students' projects, proving it is a vival and liquid tool for community activities. I have prepared several interesting topics; nevertheless, I am going to let the participants to come up with their own topics too, naturally. These are some suggestions:
- Nxt as a reserve currency
- asset exchange - startups, crowdfunding
- currencies built upon Nxt AE
- currencies collateralized by resources
- electronic money for Africa
- save money transfers for migrant workers
- private currencies in form of firms’ IOUs and their aggregation
- contracts within blockchain
- accepting Nxt payments (including a study of benefits)
- marketing, advertisement
- encrypted uncensored communication
- utilization of the net’s hashing power (more of a topic for proof of work cryptos but still)
- hashing power as a flow-type currency
- popularization of Nxt at the university, its usage among the academic community
The participants can work on their own as well as in small teams. My role in the project would be supervising, consultancy and evaluation of the papers. I am going to write a paper concerning the project and its outcomes too. As far as I know, there is only one such project running – at MIT. And the MIT project is concerned with IT specialists. Mine would, on the other hand, involve economists. Knowing this, I suppose my paper could be accepted in an influential scientific journal with impact. I believe that a recognition by a scientific community would significantly help Nxt to retain and strengthen its position among the most important crypto-currencies. I also hope the students of economics can invent some new interesting ways how to use Nxt and its net and community. All their papers will be available for promoting Nxt.
On top of the papers, I will monitor the way the students have used their Nxt coins (to the degree the blockchain allows me to). Some of them may exchange it for fiat immediately, some of them may try to speculate, some may examine its various functions, some may decide to multiply the initial amount e.g. by accepting Nxt in their own businesses. I would like to stimulate them by awarding the 3 participants with the highest number of Nxt on their wallet in the end of the project with an additional Nxt reward.
Last but not least, I would like to repeat the project at a different university next semester, after it would prove itself to be worthy. I am going to be a doctoral exchange student. I am considering applying for University of Nicosia on Cyprus, where they run a Bachelors program concerning crypto-currencies. My own specialization is Alternative monetary solutions. I have already written and published several articles on this topic, including this one about Nxt: https://nxtforum.org/general-discussion/nxt-papers-whitepapers-academic-and-economic/ (Economic Parameters of Nxt).
We could also connect our students to Nxters via videochats, so that we can have some QA discussion sessions or we can stream the student presentations to the world. Potentially, some Nxt developers or promoters could visit the students face to face.
Since I don’t have resources for supporting the project, I am kindly asking the Nxt community to crowdfund the project. If you like the idea, please send a contribution to this address I opened solely for the purpose of crowdfunding of this project: 13727074986936672578 / NXT-7AC4-Z4SS-UNXK-DX42X. The more money I acquire, the more students I can involve. I would like to work with 30 - 100 students.
I am also very open to your suggestions, comments, critique here: https://nxtforum.org/nxt-projects/university-of-economics-in-prague-nxt-project/
Saturday, July 26, 2014
NXT is designed to be a lubricant to the financial system (by: jefdiesel)
Bitcoin is MONEY with very few financial tools. Its digital FIAT. You go to work and get paid then you can buy food, shelter, etc. The end. Back to work tomorrow, earn more. The only reason BTC value has increased is demand. Remember BTC is finite and there will eventually be no more (proof of) work to be done. Like a mine town when the mine taps out.
NXT has a different place. Its not to be worked for or spent on consumables. It has a value that people will exchange for goods and services, in limited manners now.
The analogy I use is its like having no money and paying for gas with unvested Facebook shares. If the gas station attendant was smart, he'd pay for you gas himself and keep the stocks. But not all people will be able to afford such actions. They need to buy food and shelter.
NXT is designed to be a lubricant to the financial system. It is a medium through which greater value will pass. The design will allow a much decreased overhead, and instant and secure transactions.
The gas station will not want to accept NXT for gas, instead the gas station will use a system based on NXT to process all payments, handle payroll, rent, banking, and accounts payable. The gas station may never know what NXT is.
As holders of NXT, we are serving to secure and grow this network. The liquidity issue in NXT more concerns distribution, as the security relies upon NXT being in many peoples hands, and less about being available to be simply spent.
The price seems to represent these needs. This reduces the importance of numerous exchanges, as users are not simply moving through NXT into other goods or services.
NXT needs a healthy market, but more importantly it needs a robust market. Exposure on pump and dump exchanges is not doing anything for anyone. When people want to buy NXT, they will go where it is sold. There is a demand for NXT to Fiat of course, but even that is secondary.
MGW offers a decentralized market which is the purest ideal at the moment. Banks and laws are the complete opposite direction. NXT has the planned financial tools to make these regulatory bodies obsolete.
NTX does not need Legal legitimacy, it has secure features that out strip any laws of man.
Source: https://nxtforum.org/introduce-yourself/am-i-doing-good)/msg70966/#msg70966
NXT has a different place. Its not to be worked for or spent on consumables. It has a value that people will exchange for goods and services, in limited manners now.
The analogy I use is its like having no money and paying for gas with unvested Facebook shares. If the gas station attendant was smart, he'd pay for you gas himself and keep the stocks. But not all people will be able to afford such actions. They need to buy food and shelter.
NXT is designed to be a lubricant to the financial system. It is a medium through which greater value will pass. The design will allow a much decreased overhead, and instant and secure transactions.
The gas station will not want to accept NXT for gas, instead the gas station will use a system based on NXT to process all payments, handle payroll, rent, banking, and accounts payable. The gas station may never know what NXT is.
As holders of NXT, we are serving to secure and grow this network. The liquidity issue in NXT more concerns distribution, as the security relies upon NXT being in many peoples hands, and less about being available to be simply spent.
The price seems to represent these needs. This reduces the importance of numerous exchanges, as users are not simply moving through NXT into other goods or services.
NXT needs a healthy market, but more importantly it needs a robust market. Exposure on pump and dump exchanges is not doing anything for anyone. When people want to buy NXT, they will go where it is sold. There is a demand for NXT to Fiat of course, but even that is secondary.
MGW offers a decentralized market which is the purest ideal at the moment. Banks and laws are the complete opposite direction. NXT has the planned financial tools to make these regulatory bodies obsolete.
NTX does not need Legal legitimacy, it has secure features that out strip any laws of man.
Source: https://nxtforum.org/introduce-yourself/am-i-doing-good)/msg70966/#msg70966
Monday, July 14, 2014
Why is Nxt decentralized Multigateway safer than any other centralized gateway? (by: jl777)
Server redundancy
In case of hardware failure, always remaining 2 servers provide ability to release funds.
jl777: Server redundancy is quite a benefit, especially when you consider blockchain forks. For a centralized gateway if their server (for any coin) goes on a fork, well, problems. With MGW, at least on the withdraw side everything comes to a stop. Granted response time isnt good, but I think stopping all withdraws until the fork is resolved is really the only practical solution and MGW design does this automatically. Also, MGW uses the blockchains as its database, thats pretty redundant.
More secure
sile16: Potentially slightly better security. 2 hosts would have to be compromised, but assuming a hacker can compromise 1 host, and all 3 hosts are running the same OS, and MGW software then if he can find an other host whatever method worked on the first one would probably work on the second. As for finding the hosts, it seems like you could just crossreference all the IPs of BTC nodes as well as NXT nodes. However, if MGW was re-implemented 3 times by 3 different programers and secured (os, firewall, etc) 3 unique ways it could achieve significantly higher security.
jl777: Your assumption of "if he can find an other host whatever method worked on the first one would probably work on the second" is flawed. The three MGW hosts will be proving three different sets of operational security, each based on their own proprietary security procedures. Its not like there will be a magic incantation that opens all the pathways to the MGW private keys. Now even it there was, it wont be as simple as doing a sendmoney call as all the funds are in multisig accts. Maybe this is not a big issue, but also, there wont be a single large account, but lots of small accounts. So, this magical hacker needs to crack one server host then while undetected crack another MGW host, then deal with hundreds or thousands of accounts. All without being detected as once detected, everything can be shutdown. Now how exactly the hacker will even contact an MGW server externally is a mystery to me. In any case, MGW doesnt have to run faster than the bear, it just needs to be more secure than a centralized setup. I think a social engineering hack is the weakest link, but whatever the exposure the odds are P*P vs P, where P is the probability of being cracked. Add to that the difficulty of multisig tx, add to that the lack of a centralized account. Whatever those factors are, call it X factor we have MGW being (X / P) more secure. So, if odds of one facility being cracked are .001 and X factor is 5, MGW is 5000 times more secure.
Secure
MGW is thousands of times more secure than centralized gateways. MGW does NOT require trust that it has 100% reserve. MGW has lower target appeal due to no central wallet and multisig. MGW utilizes blockchain redundancy for its state data and is more immune to blockchain forks. MGW is monitored by all independent nodes running the MGW client (which is 95% the same code as MGW server) to obtain realtime verification of all MGW operations, eg. deposits and withdraws.
Now a totally blockchain solution is of course theoretically much more desirable, but I am not smart enough to figure out how to do it. The fundamental problem is "where are the private keys". If you can figure out how to store the private keys on the blockchain without allowing anybody to just empty the accounts, then let me know and I will implement it. To my knowledge, MGW is far and away the most secure gateway solution with the least trust required of any gateway in existence.
Basically, technically it is the best. The bottomline is users have to use either a centralized exchange, a centralized gateway or MGW. Well, OK, I guess people can use NXTsubatomic/NXTatomic and not have to deposit their bitcoins anywhere. Maybe for people like you that seem to want to eliminate all third party risk, that is the way to go. I do understand your point of view. So the best gateway is no gateway at all.
James
Source: https://nxtforum.org/nxtservices-releases/how-to-test-multigateway-with-nxtservices-a-test-user-guide/msg64364/#msg64364
In case of hardware failure, always remaining 2 servers provide ability to release funds.
jl777: Server redundancy is quite a benefit, especially when you consider blockchain forks. For a centralized gateway if their server (for any coin) goes on a fork, well, problems. With MGW, at least on the withdraw side everything comes to a stop. Granted response time isnt good, but I think stopping all withdraws until the fork is resolved is really the only practical solution and MGW design does this automatically. Also, MGW uses the blockchains as its database, thats pretty redundant.
More secure
sile16: Potentially slightly better security. 2 hosts would have to be compromised, but assuming a hacker can compromise 1 host, and all 3 hosts are running the same OS, and MGW software then if he can find an other host whatever method worked on the first one would probably work on the second. As for finding the hosts, it seems like you could just crossreference all the IPs of BTC nodes as well as NXT nodes. However, if MGW was re-implemented 3 times by 3 different programers and secured (os, firewall, etc) 3 unique ways it could achieve significantly higher security.
jl777: Your assumption of "if he can find an other host whatever method worked on the first one would probably work on the second" is flawed. The three MGW hosts will be proving three different sets of operational security, each based on their own proprietary security procedures. Its not like there will be a magic incantation that opens all the pathways to the MGW private keys. Now even it there was, it wont be as simple as doing a sendmoney call as all the funds are in multisig accts. Maybe this is not a big issue, but also, there wont be a single large account, but lots of small accounts. So, this magical hacker needs to crack one server host then while undetected crack another MGW host, then deal with hundreds or thousands of accounts. All without being detected as once detected, everything can be shutdown. Now how exactly the hacker will even contact an MGW server externally is a mystery to me. In any case, MGW doesnt have to run faster than the bear, it just needs to be more secure than a centralized setup. I think a social engineering hack is the weakest link, but whatever the exposure the odds are P*P vs P, where P is the probability of being cracked. Add to that the difficulty of multisig tx, add to that the lack of a centralized account. Whatever those factors are, call it X factor we have MGW being (X / P) more secure. So, if odds of one facility being cracked are .001 and X factor is 5, MGW is 5000 times more secure.
Other benefits
Open
MGW is open. Meaning anybody can do a realtime audit on all the account balances and compare against the outstanding assets. In fact, the MGW client does this when configured with bitcoin-qt. I dont know of any centralized gateway that lets you verify they have 100% backing. Fractional reserve is always a tempting thing, but with MGW it is not possible. This is something that you overlook and I think could be one of the most powerful MGW advantages. You dont have to trust the issuer to not do fractional reserve, it is all there on the blockchain and the MGW clients can monitor this block by block. So in this most important sense, MGW is trustless. Realtime verification of unspent reserves.Secure
MGW is thousands of times more secure than centralized gateways. MGW does NOT require trust that it has 100% reserve. MGW has lower target appeal due to no central wallet and multisig. MGW utilizes blockchain redundancy for its state data and is more immune to blockchain forks. MGW is monitored by all independent nodes running the MGW client (which is 95% the same code as MGW server) to obtain realtime verification of all MGW operations, eg. deposits and withdraws.
Now a totally blockchain solution is of course theoretically much more desirable, but I am not smart enough to figure out how to do it. The fundamental problem is "where are the private keys". If you can figure out how to store the private keys on the blockchain without allowing anybody to just empty the accounts, then let me know and I will implement it. To my knowledge, MGW is far and away the most secure gateway solution with the least trust required of any gateway in existence.
Basically, technically it is the best. The bottomline is users have to use either a centralized exchange, a centralized gateway or MGW. Well, OK, I guess people can use NXTsubatomic/NXTatomic and not have to deposit their bitcoins anywhere. Maybe for people like you that seem to want to eliminate all third party risk, that is the way to go. I do understand your point of view. So the best gateway is no gateway at all.
James
Source: https://nxtforum.org/nxtservices-releases/how-to-test-multigateway-with-nxtservices-a-test-user-guide/msg64364/#msg64364
Wednesday, July 9, 2014
What is Nxt Economic Clustering?
This concept is a development of the idea of Economic Majority introduced by Meni Rosenfeld.
In his notes BCNext states that EC solves the most critical flaw of Proof-of-Stake concept, according to the description this flaw is what others call "Nothing-at-Stake" problem. The 3rd part of the Plan contains such the words:
Mining in Nxt relies on cooperation of people and even forces it
That was said about EC.
The concept of economic clustering is quite simple. Words "economic majority" say enough to explain how it works. From technical point of view it means that if someone decides to rewrite the history of the blockchain he won't be able to include transactions of those who don't take part in the attack, because every transaction contains the id of one of the recent blocks. When Alice sends money to Bob in exchange for something she'll get what she wants only if Bob validates the transaction. And this can happen only if they are both on the same branch.
Forgers can't forge all branches at once, they are faced with a choice, an attempt to forge more than one branch will lead to their exclusion from one of the clusters.
The proposed technical solution will also be used for analysis of transactions to detect forks. This is one of the reasons why I decided to implement part of EC without waiting for complete TF. Another reason is that proposed solution should be peer reviewed. Recent hot debates on BitcoinTalk regarding Nothing-at-Stake show that people are paying a lot of attention to PoS cryptocoins. This is a good opportunity to get a lot of reviews.
Extra consensus rule mentioned in the 1st part of the Plan is a rule that defines choice of an economic cluster a node sticks too. I can't reveal all the details yet, we still need to build infrastructure of nodes and hubs and (this is more important) to form such a cluster...
By: Come-from-Beyond, https://bitcointalk.org/index.php?topic=587007.msg6877338#msg6877338
PS:
Monetary System will allow to create currencies on top of Nxt. In the very beginning only basic operations like money transferring will be available for such subcurrencies. At some point (BCNext wanted this to happen when market capitalization of Nxt == capitalization of Bitcoin with 21'000'000 coins) the community will allow to use subcurrencies for all other things - trading assets on AE, buying goods on DGS, etc. This is supposed to slow down the deflation caused by limited supply of NXT. We don't need Antideflation* right now, but it's better to have it ready earlier than later, coz some non-revealed features of Nxt may lead to explosive growth of the userbase.
In his notes BCNext states that EC solves the most critical flaw of Proof-of-Stake concept, according to the description this flaw is what others call "Nothing-at-Stake" problem. The 3rd part of the Plan contains such the words:
Mining in Nxt relies on cooperation of people and even forces it
That was said about EC.
The concept of economic clustering is quite simple. Words "economic majority" say enough to explain how it works. From technical point of view it means that if someone decides to rewrite the history of the blockchain he won't be able to include transactions of those who don't take part in the attack, because every transaction contains the id of one of the recent blocks. When Alice sends money to Bob in exchange for something she'll get what she wants only if Bob validates the transaction. And this can happen only if they are both on the same branch.
Forgers can't forge all branches at once, they are faced with a choice, an attempt to forge more than one branch will lead to their exclusion from one of the clusters.
The proposed technical solution will also be used for analysis of transactions to detect forks. This is one of the reasons why I decided to implement part of EC without waiting for complete TF. Another reason is that proposed solution should be peer reviewed. Recent hot debates on BitcoinTalk regarding Nothing-at-Stake show that people are paying a lot of attention to PoS cryptocoins. This is a good opportunity to get a lot of reviews.
Extra consensus rule mentioned in the 1st part of the Plan is a rule that defines choice of an economic cluster a node sticks too. I can't reveal all the details yet, we still need to build infrastructure of nodes and hubs and (this is more important) to form such a cluster...
By: Come-from-Beyond, https://bitcointalk.org/index.php?topic=587007.msg6877338#msg6877338
PS:
Monetary System will allow to create currencies on top of Nxt. In the very beginning only basic operations like money transferring will be available for such subcurrencies. At some point (BCNext wanted this to happen when market capitalization of Nxt == capitalization of Bitcoin with 21'000'000 coins) the community will allow to use subcurrencies for all other things - trading assets on AE, buying goods on DGS, etc. This is supposed to slow down the deflation caused by limited supply of NXT. We don't need Antideflation* right now, but it's better to have it ready earlier than later, coz some non-revealed features of Nxt may lead to explosive growth of the userbase.
Decentralized internet and Nxt solutions
People started to realize they have almost no privacy on the internet in last years. More and more web users are looking for free an independent network without any restrictions and spy agencies. John Perry Barlow in his 1996’s manifesto asked for naturally independent internet without any methods of enforcement from the governments. His ideas weren't accepted, so today Google comprises 25 per cent of all North American Internet traffic. You cannot access Facebook in Bangladesh or China. At some escalated days you couldn't use Twitter (and Facebook) also in Egypt, Iran, Syria, South Korea or Tajikistan. These restrictions are quite small if you compare them to the different kind of manipulation: internet controlled by major players: Google, Amazon and Microsoft.
Amazon Web Services decided to pull the WikiLeaks website from its servers in 2010. They said it was a violation of their terms of service, but Amazon was also under a political pressure. This incident raised questions about freedom in independent media. Google removes 1300 sites every year by government requests from 25 countries, including Cyprus, France or Japan. The problem with Google Compute Engine or Microsoft Azure is in a monitoring system which controls its functioning. This regulation needs to be very massive, because users want to view only very limited content on their mobile platforms.
If you look at Apple, they are selling iPhones with iOs or iTunes, but they also decided to launch iPad news publication controlled by Rupert Murdoch's corporation. The readers of this iNewspaper will be able to read only texts approved by one company. Edward Snowden’s leaks brought another reason not to trust centralized cloud systems: Security Agencies were secretly collecting users’ data from data centers owned by Google or Yahoo. The fear of hidden back doors opened debates about need of truly decentralized internet network.
In centralized web all your data, used searches, messages, photos and videos are owned by corporations who know everything about you. There is no online privacy on the internet in 2013. Corporations are trying to create a new internet 2.0, where all information is stored on cloud services. So you will be able to access your files on your mobile phone, tablet and notebook. This way you are going to lose all privacy. Pakistan already implemented a mandatory biometric regime for SIM-card users. All fingerprints used for purchases can now be used for the state fingerprint database. On the other hand in Mexican village Talea de Castro was built an independent mobile network, without any control of state governments or big corporations.
There are some places where decentralized network connects some local areas. Project Guifi started in 2000s by Ramon Roca. This local network has got more than 21.000 wireless nodes, most of them from Catalonia. Its users communicate with each other P2P. This project now hosts web servers, videoconferencing services and internet radio broadcasts. This system is based on radio wireless network, so it would work also if the internet was shot down. Very similar network based in the US is Hyperboria, a virtual meshnet that runs P2P through the existing internet. So it needs internet connection, but its content is unreachable by centralized servers.
Internet is centralized thanks to ISPs' (internet service providers) switches. That's why could be protesters in Egypt unplugged on 28 January 2011. This might be prevented by decentralized systems with enabled internet connection between all computers in the network. Decentralized computing can be used for file sharing, payments and all kinds of online communication. It is based on a peer-to-peer applications running on several local computers, whose connect remotely to each other.
One of the implementation of decentralized internet is a lightweight version of the free Linux operating system invented by Jacob Cook (ArkOS). It has a big advantage of its cheap maintenance: you can run it on Raspberry Pi, a little microcomputer, cheaper and smaller than your mobile phone. It allows hosting for any data that you can access anywhere. This way users don't have to use Dropbox or Amazon, services owned by someone else.
Bitcloud will try to make anonymous internet, with invention of routing traffic in a brand new mesh network (= Proof of Bandwidth). So the internet providers won't be needed. It's already aiming for replacing YouTube, Netflix, Hulu, Soundcloud or Spotify. It is quite similar to MaidSafe, which is a bitcoin for data that aspires to replace Skype, Facebook, Dropbox, Tor or Wuala.
A few years ago was created Diaspora, distributed and decentralized social network. The problem is even this project was backed by specific organization (Free Software Support Network) which means centralization. The FreedomBox brought decentralized system of encrypted voice and text communication. Anyone can anonymously talk to the media or public using FreedomBox, even from countries censored by governments. However FreedomBox foundation is a Delaware nonprofit corporation - so even this project is based on centralized group of people. Their goal was to eventually replace Facebook/Twitter/Flicker, but they didn't complete the application yet. Also using a Kickstarter and payment by Amazon for funding is very centralized way of getting to the system. Almost four years after the Kickstarter funding ($86.724) the backers still didn't obtain an application they paid for.
All these programs had a problem with getting a mass adoption. They were so specific, that they couldn't find a relevant number of users. So Identi.ca and GNU social didn’t replace Facebook, Mega, Parley, Scramble,StartMail, BitMessage, Darkmail, FlowingMail or Pond didn’t gain as many users as Gmail. That's why is important to have one solution that could easily maintain the whole decentralized internet.
Nxt uses an efficient system to maintain the network by using much lower processing power and electricity than is needed for Bitcoin and its clones. It is important to stay decentralized, by forming the Nxt network from thousands of users from all over the world, so this system cannot be censored. You cannot point to any owner of the Nxt system. Ordinary users don't own Nxt coins, they only know the passphrase to a Nxt brainwallet. This means that no legal entity can take Nxt coins from you… There is no creator to blame, no specific user to arrest, and you cannot take the Nxt network down. Nobody can censor P2P networks. Nxt also is not vulnerable to 51% attacks like Bitcoin, so even if someone owns 90% of all Nxt coins, the Nxt network is secured thanks to Transparent Forging algorithms.
Nxt evolved after the second part BCNext's plan was revealed. Nxt coins cannot only be used as currency, they can also be the building blocks to implement any other project on top of the Nxt platform. Different people may have different ideas. Nxt will provide a platform for easy creation of new currencies. Thousands of cryptocurrencies can be built on top of the Nxt network. They are maintained on Nxt blockchain, but they will have their own environment. Also, people can use assets to issue new coins, so they can easily create their own monetary system via the recently implemented asset exchange. All will be secured by Nxt’s green and attack-proof environment. It is up to the creators of those coins, whether their currency will be Proof of Work (Dogecoin), Stake (Peercoin), Bandwidth (Lakshmi, Bitcloud), Burn (Counterparty) or even Learning and Content (UNITAS project). These coins can be used for different purposes– as redeemable "points" and "credits" for businesses and organizations, as redeemable tokens for prepurchases, or local community and even national currencies. Iceland is introducing Auroracoin, when half of all coins will be sent to all of the Iceland inhabitants. Nxt could eventually replace even US Dollars.
Nxt applications similar to Twitter and Viber (messages app) are now available. Soon, the first game built on top of the Nxt network will be published: a decentralized Poker game. It is very simple to create new applications for Nxt. Nxt will be like Lego for cryptocurrencies. Developers can build anything they imagine on top of Nxt.
Nxt Arbitrary Messages lead us to the true decentralized web - torrent files have already been sent via this network. With multiple parallel blockchains running side-by-side, Nxt will be able to provide cloud storage and file sharing apps. The principle behind these applications is using different blockchains for different purposes: one for file storage, one for messages, and so on. Each app will use only a specific blockchain(s) and won't be spammed by the others. Additionally, with blockchain pruning, users will not need to download large blockchains as they do now with Bitcoin and its forks.
Other functions based on Zerocoin and mixing services can provide a completely anonymous infrastructure that was originally built in the Phantom protocol - a decentralized network that focuses on the anonymization of users. Currently, Bitcoin and Nxt are only pseudonymous - transactions from the same account can still be linked to each other. With the Zerocoin feature integrated into the NXT core, it will be mathematically infeasible to link the particular coins used by each user.
Decentralized computing systems built on the Nxt platform could locally solve all kinds of research projects. Thanks to the extremely fast Nxt network, home computers can work on mathematical projects so their owners may receive crypto coins. With built-in decentralized exchanges, such coins can be immediately exchanged for other coins. Currently being tested, the decentralized Asset Exchange allows users to transform these coins into assets for fiat currencies, shares or commodities such as silver and gold. Anyone can use these exchanges without any restrictions of high fees. Asset exchange will replace “kickstarter websites” because with Nxt you can create a kickstarter crowdfunding project without any 3rd party.
Nxt uses small fees, and these fees are always returning to the users who maintain the Nxt network. While fees in VISA or PayPal system go to the centralized corporations, in the Nxt ecosystem, they are distributed fairly between users. While Bitcoin is capable of 7 transactions per second (TPS), Nxt is going to have 100 and then even 1000 TPS, so Nxt payment network might replace VISA eventually.
Nxt will be soon cooperating with DAC (Distributed Autonomous Corporations), such as Bitcloud or ArkOS. Automated Transactions, the Turing-complete scripts, are already being developed. With Bitcloud, nodes on a mesh network can be rewarded financially for routing traffic in a brand new mesh network. This removes the need for Internet Service Providers. The goal is always same: to replace YouTube, Dropbox, Facebook, Spotify, and others with decentralized, open source alternatives.
ArkOS and Nxt systems are very ecofriendly, you can run Nxt on a Raspberri Pi too. Possible merging of these projects may lead to a future of free, decentralized and green internet. Especially if the programs created on top of Nxt network used applications similar to ArkOS.
Currently, United States Federal Grants have been used to invest into installing Fiber Optic Cables. The fiber was installed and then control turned over to Kitsap County Public Utility District. Then, it was forbidden from selling access to this fiber. So instead, they have installed a free mesh network providing access to the communities of Poulsbo, Bainbridge Island, Bremerton, and Port Orchard. NXT Cubietrucks or Odroids connected to federally funded community WIFI mesh connections will connection redundancy to the Nxt network.
Another example of the grassroots deployment of a Commotion Wireless firmware based mesh network is in Brooklyn New York following Hurricane Sandy at the request of the local authorities. This mesh network exists to this day and is served by a donated fiber optic backhaul. The network serves over 500 residents who access it with iPhones, Androids, and other WIFI client devices. The mesh network was deployed by a small group of wireless networking enthusiasts utilizing Ubiquiti Networks Picostations and Nanostations and federally unlicensed wireless spectrum.
These two examples of currently existing community wireless mesh networks are perfect candidates and examples of existing decentralized networking that can be immediately integrated into the operation of the Nxt network. The Commotion Wireless project is active is Seattle and many other major US cities. Wireless mesh networking holds the capability of creating geographic mesh networks that interconnect globally via existing fiber optic backhaul, sidestepping the stranglehold of telecommunications providers worldwide. The day the Nxt network has sufficient backhaul redundancy through mesh networking will be a glorious one indeed, as Nxt data will no longer be required to traverse legacy information channels dominated by government sanctioned communication oligopolies.
The third part of BCNext's plan will be released on April 2014. It will most likely be his idea about building all kinds of decentralized applications on top of Nxt’s green network. Since the Nxt system is democratic and users will be able to vote on all important decisions, people do not have to follow BCNext's plans and can continue with Nxt as a simple currency. This is one of the most important aspects of Nxt: the creator BCNext has no power over Nxt and he cannot control its development. All the power is in the hands of independent developers and code reviewers, with input from the community. He can only suggest new ideas, but he cannot implement them directly in the protocol. Nxt has no benevolent dictator, no sponsoring company or corporation. Instead Nxt is organized around active users and contributors. Some people have already begun to work on new coins and other implementations, so BCNext's plan will likely be fulfilled as well as inspire new ideas.
Nxt is one step ahead of all other decentralized platforms thanks to its kickstart as a cryptocurrency. It is now ready to become a new decentralized internet. Nxt provides a powerful and flexible platform for developers, allowing them to easily develop new applications for Nxt. Thanks to the great community behind it, from the participants of the now almost two thousand pages of discussion in the Nxt Bitcointalk “pub” thread, as well as other forums. Nxt has achieved so much in such little time. Anyone can join this fantastic group of open-minded individuals and make a positive contribution. You can join Nxt at http://mynxt.org / http://nxtcrypto.org / http://bitcointalk.org/index.php?topic=345619.0 to learn more.
Amazon Web Services decided to pull the WikiLeaks website from its servers in 2010. They said it was a violation of their terms of service, but Amazon was also under a political pressure. This incident raised questions about freedom in independent media. Google removes 1300 sites every year by government requests from 25 countries, including Cyprus, France or Japan. The problem with Google Compute Engine or Microsoft Azure is in a monitoring system which controls its functioning. This regulation needs to be very massive, because users want to view only very limited content on their mobile platforms.
If you look at Apple, they are selling iPhones with iOs or iTunes, but they also decided to launch iPad news publication controlled by Rupert Murdoch's corporation. The readers of this iNewspaper will be able to read only texts approved by one company. Edward Snowden’s leaks brought another reason not to trust centralized cloud systems: Security Agencies were secretly collecting users’ data from data centers owned by Google or Yahoo. The fear of hidden back doors opened debates about need of truly decentralized internet network.
In centralized web all your data, used searches, messages, photos and videos are owned by corporations who know everything about you. There is no online privacy on the internet in 2013. Corporations are trying to create a new internet 2.0, where all information is stored on cloud services. So you will be able to access your files on your mobile phone, tablet and notebook. This way you are going to lose all privacy. Pakistan already implemented a mandatory biometric regime for SIM-card users. All fingerprints used for purchases can now be used for the state fingerprint database. On the other hand in Mexican village Talea de Castro was built an independent mobile network, without any control of state governments or big corporations.
There are some places where decentralized network connects some local areas. Project Guifi started in 2000s by Ramon Roca. This local network has got more than 21.000 wireless nodes, most of them from Catalonia. Its users communicate with each other P2P. This project now hosts web servers, videoconferencing services and internet radio broadcasts. This system is based on radio wireless network, so it would work also if the internet was shot down. Very similar network based in the US is Hyperboria, a virtual meshnet that runs P2P through the existing internet. So it needs internet connection, but its content is unreachable by centralized servers.
Internet is centralized thanks to ISPs' (internet service providers) switches. That's why could be protesters in Egypt unplugged on 28 January 2011. This might be prevented by decentralized systems with enabled internet connection between all computers in the network. Decentralized computing can be used for file sharing, payments and all kinds of online communication. It is based on a peer-to-peer applications running on several local computers, whose connect remotely to each other.
One of the implementation of decentralized internet is a lightweight version of the free Linux operating system invented by Jacob Cook (ArkOS). It has a big advantage of its cheap maintenance: you can run it on Raspberry Pi, a little microcomputer, cheaper and smaller than your mobile phone. It allows hosting for any data that you can access anywhere. This way users don't have to use Dropbox or Amazon, services owned by someone else.
Bitcloud will try to make anonymous internet, with invention of routing traffic in a brand new mesh network (= Proof of Bandwidth). So the internet providers won't be needed. It's already aiming for replacing YouTube, Netflix, Hulu, Soundcloud or Spotify. It is quite similar to MaidSafe, which is a bitcoin for data that aspires to replace Skype, Facebook, Dropbox, Tor or Wuala.
A few years ago was created Diaspora, distributed and decentralized social network. The problem is even this project was backed by specific organization (Free Software Support Network) which means centralization. The FreedomBox brought decentralized system of encrypted voice and text communication. Anyone can anonymously talk to the media or public using FreedomBox, even from countries censored by governments. However FreedomBox foundation is a Delaware nonprofit corporation - so even this project is based on centralized group of people. Their goal was to eventually replace Facebook/Twitter/Flicker, but they didn't complete the application yet. Also using a Kickstarter and payment by Amazon for funding is very centralized way of getting to the system. Almost four years after the Kickstarter funding ($86.724) the backers still didn't obtain an application they paid for.
All these programs had a problem with getting a mass adoption. They were so specific, that they couldn't find a relevant number of users. So Identi.ca and GNU social didn’t replace Facebook, Mega, Parley, Scramble,StartMail, BitMessage, Darkmail, FlowingMail or Pond didn’t gain as many users as Gmail. That's why is important to have one solution that could easily maintain the whole decentralized internet.
Nxt solutions
If you want to enter the game as a decentralized application, starting as a currency to obtain a wide distribution is a good place to start. All of the above mentioned projects have had problems with integration and distribution. Nxt started as the first pure Proof of Stake cryptocurrency in November 2013, and since then - in just a few short months - it has gained more than 20.000 users. The first part of BCNext’s plan, the anonymous inventor of Nxt, was spreading the monetary system among as many users as possible to create a network of decentralized P2P computers (nodes). This network is based on a lightweight client running on each connected node, so it can send data directly P2P. Thanks to the new code, it can provide up to 100 transactions per second.Nxt uses an efficient system to maintain the network by using much lower processing power and electricity than is needed for Bitcoin and its clones. It is important to stay decentralized, by forming the Nxt network from thousands of users from all over the world, so this system cannot be censored. You cannot point to any owner of the Nxt system. Ordinary users don't own Nxt coins, they only know the passphrase to a Nxt brainwallet. This means that no legal entity can take Nxt coins from you… There is no creator to blame, no specific user to arrest, and you cannot take the Nxt network down. Nobody can censor P2P networks. Nxt also is not vulnerable to 51% attacks like Bitcoin, so even if someone owns 90% of all Nxt coins, the Nxt network is secured thanks to Transparent Forging algorithms.
Nxt evolved after the second part BCNext's plan was revealed. Nxt coins cannot only be used as currency, they can also be the building blocks to implement any other project on top of the Nxt platform. Different people may have different ideas. Nxt will provide a platform for easy creation of new currencies. Thousands of cryptocurrencies can be built on top of the Nxt network. They are maintained on Nxt blockchain, but they will have their own environment. Also, people can use assets to issue new coins, so they can easily create their own monetary system via the recently implemented asset exchange. All will be secured by Nxt’s green and attack-proof environment. It is up to the creators of those coins, whether their currency will be Proof of Work (Dogecoin), Stake (Peercoin), Bandwidth (Lakshmi, Bitcloud), Burn (Counterparty) or even Learning and Content (UNITAS project). These coins can be used for different purposes– as redeemable "points" and "credits" for businesses and organizations, as redeemable tokens for prepurchases, or local community and even national currencies. Iceland is introducing Auroracoin, when half of all coins will be sent to all of the Iceland inhabitants. Nxt could eventually replace even US Dollars.
Nxt applications similar to Twitter and Viber (messages app) are now available. Soon, the first game built on top of the Nxt network will be published: a decentralized Poker game. It is very simple to create new applications for Nxt. Nxt will be like Lego for cryptocurrencies. Developers can build anything they imagine on top of Nxt.
Nxt Arbitrary Messages lead us to the true decentralized web - torrent files have already been sent via this network. With multiple parallel blockchains running side-by-side, Nxt will be able to provide cloud storage and file sharing apps. The principle behind these applications is using different blockchains for different purposes: one for file storage, one for messages, and so on. Each app will use only a specific blockchain(s) and won't be spammed by the others. Additionally, with blockchain pruning, users will not need to download large blockchains as they do now with Bitcoin and its forks.
Other functions based on Zerocoin and mixing services can provide a completely anonymous infrastructure that was originally built in the Phantom protocol - a decentralized network that focuses on the anonymization of users. Currently, Bitcoin and Nxt are only pseudonymous - transactions from the same account can still be linked to each other. With the Zerocoin feature integrated into the NXT core, it will be mathematically infeasible to link the particular coins used by each user.
Decentralized computing systems built on the Nxt platform could locally solve all kinds of research projects. Thanks to the extremely fast Nxt network, home computers can work on mathematical projects so their owners may receive crypto coins. With built-in decentralized exchanges, such coins can be immediately exchanged for other coins. Currently being tested, the decentralized Asset Exchange allows users to transform these coins into assets for fiat currencies, shares or commodities such as silver and gold. Anyone can use these exchanges without any restrictions of high fees. Asset exchange will replace “kickstarter websites” because with Nxt you can create a kickstarter crowdfunding project without any 3rd party.
Nxt uses small fees, and these fees are always returning to the users who maintain the Nxt network. While fees in VISA or PayPal system go to the centralized corporations, in the Nxt ecosystem, they are distributed fairly between users. While Bitcoin is capable of 7 transactions per second (TPS), Nxt is going to have 100 and then even 1000 TPS, so Nxt payment network might replace VISA eventually.
Nxt will be soon cooperating with DAC (Distributed Autonomous Corporations), such as Bitcloud or ArkOS. Automated Transactions, the Turing-complete scripts, are already being developed. With Bitcloud, nodes on a mesh network can be rewarded financially for routing traffic in a brand new mesh network. This removes the need for Internet Service Providers. The goal is always same: to replace YouTube, Dropbox, Facebook, Spotify, and others with decentralized, open source alternatives.
ArkOS and Nxt systems are very ecofriendly, you can run Nxt on a Raspberri Pi too. Possible merging of these projects may lead to a future of free, decentralized and green internet. Especially if the programs created on top of Nxt network used applications similar to ArkOS.
Currently, United States Federal Grants have been used to invest into installing Fiber Optic Cables. The fiber was installed and then control turned over to Kitsap County Public Utility District. Then, it was forbidden from selling access to this fiber. So instead, they have installed a free mesh network providing access to the communities of Poulsbo, Bainbridge Island, Bremerton, and Port Orchard. NXT Cubietrucks or Odroids connected to federally funded community WIFI mesh connections will connection redundancy to the Nxt network.
Another example of the grassroots deployment of a Commotion Wireless firmware based mesh network is in Brooklyn New York following Hurricane Sandy at the request of the local authorities. This mesh network exists to this day and is served by a donated fiber optic backhaul. The network serves over 500 residents who access it with iPhones, Androids, and other WIFI client devices. The mesh network was deployed by a small group of wireless networking enthusiasts utilizing Ubiquiti Networks Picostations and Nanostations and federally unlicensed wireless spectrum.
These two examples of currently existing community wireless mesh networks are perfect candidates and examples of existing decentralized networking that can be immediately integrated into the operation of the Nxt network. The Commotion Wireless project is active is Seattle and many other major US cities. Wireless mesh networking holds the capability of creating geographic mesh networks that interconnect globally via existing fiber optic backhaul, sidestepping the stranglehold of telecommunications providers worldwide. The day the Nxt network has sufficient backhaul redundancy through mesh networking will be a glorious one indeed, as Nxt data will no longer be required to traverse legacy information channels dominated by government sanctioned communication oligopolies.
The third part of BCNext's plan will be released on April 2014. It will most likely be his idea about building all kinds of decentralized applications on top of Nxt’s green network. Since the Nxt system is democratic and users will be able to vote on all important decisions, people do not have to follow BCNext's plans and can continue with Nxt as a simple currency. This is one of the most important aspects of Nxt: the creator BCNext has no power over Nxt and he cannot control its development. All the power is in the hands of independent developers and code reviewers, with input from the community. He can only suggest new ideas, but he cannot implement them directly in the protocol. Nxt has no benevolent dictator, no sponsoring company or corporation. Instead Nxt is organized around active users and contributors. Some people have already begun to work on new coins and other implementations, so BCNext's plan will likely be fulfilled as well as inspire new ideas.
Nxt is one step ahead of all other decentralized platforms thanks to its kickstart as a cryptocurrency. It is now ready to become a new decentralized internet. Nxt provides a powerful and flexible platform for developers, allowing them to easily develop new applications for Nxt. Thanks to the great community behind it, from the participants of the now almost two thousand pages of discussion in the Nxt Bitcointalk “pub” thread, as well as other forums. Nxt has achieved so much in such little time. Anyone can join this fantastic group of open-minded individuals and make a positive contribution. You can join Nxt at http://mynxt.org / http://nxtcrypto.org / http://bitcointalk.org/index.php?topic=345619.0 to learn more.
Nxt cryptocurrency - introduction and texts for journalists
Dear Mr Journalist,
I would like to inform you about new generation cryptocurrency - Nxt. Nxt is not based on Bitcoin's source code (like all other altcoins). It is faster than Bitcoin (10x) and cheaper (3000x) - you can run Nxt on smartphones and small devices like the Raspberry Pi. (see tech analysis)
Nxt is fully decentralized - there is no organisation above Nxt, no corporations or celebrities, all development and marketing is paid by community donations. Inventor of Nxt only created a source code and left Nxt, like Satoshi left Bitcoin.
Why is Nxt new generation cryptocurrency?Nxt allows building all kinds of decentralized applications on top of Nxt’s green and fast network:
- decentralized internet
- decentralized stock, currency exchange
- decentralized online market
- decentralized file storage
- decentralized Facebook, Twitter, Email, Youtube...
Nxt will be used as a platform for easy building new cryptocurrencies on top of Nxt:
- Casino Tokens
- Airline miles points
- Hotel/Travel Agency Tokens
- Gaming currencies
- Country currencies
- Local currencies
- Companies currencies
Why is it important to be decentralized?Decentralized Facebook cannot be censored by governments (like in China). Decentralized exchanges cannot be hacked (like MtGox in Japan). Anonymity allows decentralized internet and file storage for all freedom fighters. (see "Decentralized internet and Nxt solutions" paper)
Nxt brings the revolution to the free speech and to the democratization of the money.
Why are P2P payments and P2P crowdfunging important?Nxt crowdfunding allows straight micropayments aimed to the hands of everyone, even in Africa. Billions of people cannot have a bank account, but they can be crowdfunded by Nxt kickstarters, without charity providers, without middlemen.
If you have any questions, let us know: nxtsalsacz@gmail.com. We can arrange interviews with Nxt developers... We would be very delighted, if you wanted to write about Nxt. Thank you!
Test new Nxt interface right now here: http://nxtra.org/nxt-
Published articles
- NXT – Proof of Stake and the New Alternative Altcoin
http://bitcoinmagazine.com/9826/nxt-proof-stake-new- alternative-altcoin/ - Whats NXT in the World of Cryptocurrencies?
http://www.cryptocoinsnews.com/2014/01/17/whats-nxt- world-cryptocurrencies/ - Why NXT is Up While Most Other Crypto Coins are Down:
http://www.cryptocoinsnews.com/2014/02/14/nxt-crypto- coins/ - Digital Currencies 2.0: Meet NXT, the ‘Next’ Ripple
http://www.dcmagnates.com/digital-currencies-2-0-meet- nxt-the-next-ripple/ - Open source cryptocurrency Nxt is now finishing testing Asset Exchange
http://cryptosource.org/open-source-cryptocurrency-nxt-is- now-finishing-testing-asset- exchange-and-was-added-on- cryptsy/
- Nxt crypto platform version 1.0 released
http://www.coinssource.com/nxt-crypto-platform-version-1-0-0-released/
- Nxt decentralized Asset exchange now live
http://www.coinssource.com/now-live-nxts-decentralized-asset-exchange/
- Nxt entering mainstream: Payexpo, SMS payments, ATMs, Nxt cafe and new features
http://www.coinssource.com/nxt-entering-mainstream-payexpo-sms-payments-atms-nxtcafe-new-features/
Unpublished texts. You can use or publish any of our texts
- Decentralized internet and Nxt solutions
- Make Nxt Your Blockchain: An Invitation To Universities and Academic Researchers
- NXT Whitepaper: http://wiki.
nxtcrypto.org/wiki/Whitepaper: Nxt - NxtMyths: What should we know about Nxt generation PoS Cryptocurrency
Economic texts:
Tech theses:
- Nxt Network Energy and Cost Efficiency Analysis
- The math of Nxt forging (in progress)
- Nxt Crypto Review of Curve25519.java & Crypto.java
- NXT: A Cybernetics Perspective V 0.1 Proof of X
Infographics:
Videos:
What is Nxt?
Decentralized internet and Nxt solutions:
Download Nxt logos:
Nxt logo:
Nxt brochure
Lists of Nxt websites:
Main Nxt website:
Nxt clients:
http://www.nxtclient.org/ or online wallet: https://wallet.mynxt.
Buy Nxt on:
Yours faithfully, Salsacz, contact: nxtsalsacz@gmail.com
Small unpublished articles
How is Nxtcoin (NXT) Proof of Stake and Transparent Forging better than Proof of Work systems?
https://docs.google.com/file/
Financial decentralization leads to financial freedom!
https://docs.google.com/file/
NXT solution to payment terminal
https://docs.google.com/file/
https://docs.google.com/file/
Financial decentralization leads to financial freedom!
https://docs.google.com/file/
NXT solution to payment terminal
https://docs.google.com/file/
Initial distribution of 100% PoS currencies (by: BCNext and revised by Come-from-Beyond)
Initial distribution of the coins and the forging schedule are more serious problems than they appear at first glance. A 100% proof-of-stake currency needs at least a small part of the coins to be distributed in the beginning because these coins is the only forging instrument. A forging schedule has a lot of influence on initial distribution and must be defined in the first place.
The PoS algorithm used in Nxt has such properties that give a little advantage to an account that holds more coins comparing to an account with a lower amount. If every block subsidizes the forger with extra coins (in addition to the fees) then bigger accounts become even bigger by following the compound interest curve. In a currency with selfish forgers most of the coins would be absorbed by very few accounts that would lead to centralization of the currency. Because of this all the coin in Nxt were distributed at once in the genesis block.
Bootstrapping requires to make a decision how to do the initial distribution. We consider three main schemes, any other scheme can be represented as a combination of them.
The first scheme – all the coins go to a single account controlled by one entity that transfers coins to the others in exchange for work done for development and promotion of the currency. This scheme is completely unacceptable because it’s not “compatible” to decentralized nature of cryptocurrencies.
The second scheme – all the coins are split equally among a group of people. This approach faces some problems. A Sybil attack can be easily conducted by an entity to acquire a significant part of the coins. Such a counterattack as usage of a certification service can’t be used because majority of potential users won’t agree to reveal their true identities. Another possible counterattack, based on proof-of-resources approach, can’t give “fair” distribution because the resources are distributed in “unfair” way. Anyway, even if the Sybil attack could be significantly mitigated, the second scheme is a bad choice because the history of humankind teaches us that an economy driven society where all individuals own equal amount of resources is unsustainable and even utopian. (Note by CfB: It would be interesting to hear opinion of NEM guys on this issue…)
The third scheme – all the coins are distributed in “chaotic” way. This scheme doesn’t have disadvantages of the previous ones, no centralization, no necessity to deanonymize users, no need to counteract Sybil attacks. Economy and sociology sciences state that distribution of the coins will follow the Pareto 80-20 principle. An important note should be made. The fact that (almost?) all the societies conform to this principle assures that the third scheme is the best one. The Pareto principle seems to be a result of universal but yet unknown laws of nature. If the distribution follows the principle then with high probability we can assume that our system will sustain for a long period of time. The previous schemes will transform into “80% of coins belongs to 20% of entities” systems anyway, but the third scheme has such an advantage that it doesn’t need to survive the period of instability.
According to the described above logic Nxt was created by issuing all the coins at once and distributing them by following the last distribution scheme.
Initial distribution has two properties – percentages and number of participants. Common sense says that number of participants should be as large as possible. This seems to be true, but we should take into account that every system has three main stages of the progress – bootstrapping, normal functioning and decaying. We consider only the first two because our goal is to create an ever-functioning system.
We shouldn’t ignore the lessons of history. Societies created by a lot of people are abnormal phenomena. Number of participants in the very beginning should be rather small than large. This is an arguable statement but disputes on the issue lay out of the scope of this paper. The creator of Nxt preferred a small number of “founders” because he had no possibility to do several experiments on finding the best number nor he had time to build a theory that could predict this number. The most stable economic systems were always bootstrapped by a few people (feods, corporations, etc.) so it was safer to follow a similar way.
Now, half a year after the launch of Nxt we see that it didn’t die and keeps growing at fast pace. This lets us guess that the choice of BCNext was a correct one.
Source: https://nxtforum.org/initial-distribution/initial-distribution-of-100-pos-currencies/
The PoS algorithm used in Nxt has such properties that give a little advantage to an account that holds more coins comparing to an account with a lower amount. If every block subsidizes the forger with extra coins (in addition to the fees) then bigger accounts become even bigger by following the compound interest curve. In a currency with selfish forgers most of the coins would be absorbed by very few accounts that would lead to centralization of the currency. Because of this all the coin in Nxt were distributed at once in the genesis block.
Bootstrapping requires to make a decision how to do the initial distribution. We consider three main schemes, any other scheme can be represented as a combination of them.
The first scheme – all the coins go to a single account controlled by one entity that transfers coins to the others in exchange for work done for development and promotion of the currency. This scheme is completely unacceptable because it’s not “compatible” to decentralized nature of cryptocurrencies.
The second scheme – all the coins are split equally among a group of people. This approach faces some problems. A Sybil attack can be easily conducted by an entity to acquire a significant part of the coins. Such a counterattack as usage of a certification service can’t be used because majority of potential users won’t agree to reveal their true identities. Another possible counterattack, based on proof-of-resources approach, can’t give “fair” distribution because the resources are distributed in “unfair” way. Anyway, even if the Sybil attack could be significantly mitigated, the second scheme is a bad choice because the history of humankind teaches us that an economy driven society where all individuals own equal amount of resources is unsustainable and even utopian. (Note by CfB: It would be interesting to hear opinion of NEM guys on this issue…)
The third scheme – all the coins are distributed in “chaotic” way. This scheme doesn’t have disadvantages of the previous ones, no centralization, no necessity to deanonymize users, no need to counteract Sybil attacks. Economy and sociology sciences state that distribution of the coins will follow the Pareto 80-20 principle. An important note should be made. The fact that (almost?) all the societies conform to this principle assures that the third scheme is the best one. The Pareto principle seems to be a result of universal but yet unknown laws of nature. If the distribution follows the principle then with high probability we can assume that our system will sustain for a long period of time. The previous schemes will transform into “80% of coins belongs to 20% of entities” systems anyway, but the third scheme has such an advantage that it doesn’t need to survive the period of instability.
According to the described above logic Nxt was created by issuing all the coins at once and distributing them by following the last distribution scheme.
Initial distribution has two properties – percentages and number of participants. Common sense says that number of participants should be as large as possible. This seems to be true, but we should take into account that every system has three main stages of the progress – bootstrapping, normal functioning and decaying. We consider only the first two because our goal is to create an ever-functioning system.
We shouldn’t ignore the lessons of history. Societies created by a lot of people are abnormal phenomena. Number of participants in the very beginning should be rather small than large. This is an arguable statement but disputes on the issue lay out of the scope of this paper. The creator of Nxt preferred a small number of “founders” because he had no possibility to do several experiments on finding the best number nor he had time to build a theory that could predict this number. The most stable economic systems were always bootstrapped by a few people (feods, corporations, etc.) so it was safer to follow a similar way.
Now, half a year after the launch of Nxt we see that it didn’t die and keeps growing at fast pace. This lets us guess that the choice of BCNext was a correct one.
Source: https://nxtforum.org/initial-distribution/initial-distribution-of-100-pos-currencies/
Monday, June 30, 2014
A Fair Review of Nxt from a Ripple User (by: nwtrades)
Nxt seems like the closest competitor to Ripple so I figured I'd download it and give it a spin this past week. My results and impressions are below. SO far, it's the most interesting cryptocurrency and network I've seen of any of the "altcoins". It has some drawbacks but although it's a "small" competitor it could potentially become a real big thing if development continues. I will be watching this one more closely. First impressions below...
Setup (Nxtra 1-click client)
- Downloadable client was nice, with a quick install and setup process - just as easy as the old Bitcoin-QT.
- Needing to remember or store a long secret phrase seemed like a hassle, versus having a password separate from the secret phrase.
- Blockchain took a very long time to download (approx. 2-3 hrs).
Features:
- Send "Nxt" funds to other users, with approx. 1.5 minute confirmation time (seems slow relative to Ripple!)
- Send messages to other users for a 1 Nxt fee.
- Contacts section to store addresses, emails and description for each contact
- Messages inbox
- Asset Exchange - this seems like it could hold huge potential for decentralized issuing, buying and selling assets directly on the Nxt blockchain. Trades also seem to require the 1.5 minute confirmation time delay though... slow relative to what I was used to on Ripple. The only big asset trading right now seems to be NEM stake token trading (New Economy Movement) so at the moment it does not seem heavily used.
- Aliases
- Peers (view connected addresses, platform, etc)
- News
Missing features (things that Ripple has):
- Instant transactions (5 seconds or less)
- Sending / receiving other currencies in the network
- Currency trading
- Instant currency conversions
- Bitcoin bridge
If you want the TL/DR verdict: I'm still much more in favor of Ripple due to the speed and user experience.
A few additional notes unrelated to the direct user experience and features:
- From an outsider's perspective, the Nxt community and marketing seems very fragmented and disorganized. It wasn't exactly clear how to find the "official" place to go and get a summary of the information on the protocol, the Nxt currency or how to find a simple downloadable client to use. It took a few Google searches and reading online forums.
- Approximate network transaction times are not exactly clear anywhere. I just had to test and check myself.
- Nxt trading seems difficult right now, as it's mostly traded on a few small exchanges based in China and other foreign countries. The only US-based one is Cryptsy which was a relief to find. However, their deposit and withdraw times are unfortunately all over the map, ranging from minutes to hours wait time. Deposit and withdraws ranged from 1-3 hours when testing with Nxt which was a little taxing on my patience and could be stressful for anyone who moves large money there.
Overall, Nxt was interesting but does feel a little cludgy and rough around the edges. It does have some potential though!
-nwtrades
https://ripple.com/forum/viewtopic.php?f=1&t=7229&p=51906&sid=383542ae947d1a2d6cd58e6b92bc06fe#p51906
Source:
https://nxtforum.org/general-discussion/a-fair-review-of-nxt-from-a-ripple-user/
Setup (Nxtra 1-click client)
- Downloadable client was nice, with a quick install and setup process - just as easy as the old Bitcoin-QT.
- Needing to remember or store a long secret phrase seemed like a hassle, versus having a password separate from the secret phrase.
- Blockchain took a very long time to download (approx. 2-3 hrs).
Features:
- Send "Nxt" funds to other users, with approx. 1.5 minute confirmation time (seems slow relative to Ripple!)
- Send messages to other users for a 1 Nxt fee.
- Contacts section to store addresses, emails and description for each contact
- Messages inbox
- Asset Exchange - this seems like it could hold huge potential for decentralized issuing, buying and selling assets directly on the Nxt blockchain. Trades also seem to require the 1.5 minute confirmation time delay though... slow relative to what I was used to on Ripple. The only big asset trading right now seems to be NEM stake token trading (New Economy Movement) so at the moment it does not seem heavily used.
- Aliases
- Peers (view connected addresses, platform, etc)
- News
Missing features (things that Ripple has):
- Instant transactions (5 seconds or less)
- Sending / receiving other currencies in the network
- Currency trading
- Instant currency conversions
- Bitcoin bridge
If you want the TL/DR verdict: I'm still much more in favor of Ripple due to the speed and user experience.
A few additional notes unrelated to the direct user experience and features:
- From an outsider's perspective, the Nxt community and marketing seems very fragmented and disorganized. It wasn't exactly clear how to find the "official" place to go and get a summary of the information on the protocol, the Nxt currency or how to find a simple downloadable client to use. It took a few Google searches and reading online forums.
- Approximate network transaction times are not exactly clear anywhere. I just had to test and check myself.
- Nxt trading seems difficult right now, as it's mostly traded on a few small exchanges based in China and other foreign countries. The only US-based one is Cryptsy which was a relief to find. However, their deposit and withdraw times are unfortunately all over the map, ranging from minutes to hours wait time. Deposit and withdraws ranged from 1-3 hours when testing with Nxt which was a little taxing on my patience and could be stressful for anyone who moves large money there.
Overall, Nxt was interesting but does feel a little cludgy and rough around the edges. It does have some potential though!
-nwtrades
https://ripple.com/forum/viewtopic.php?f=1&t=7229&p=51906&sid=383542ae947d1a2d6cd58e6b92bc06fe#p51906
Source:
https://nxtforum.org/general-discussion/a-fair-review-of-nxt-from-a-ripple-user/
Isle of Man embraces NXT in cryptocurrency drive
As regulators and business owners recognise the benefits of digital money, new cryptocurrency NXT is well-placed to drive innovation and enterprise on the Isle of Man through a series of ground-breaking developments.
Second generation cryptocurrency NXT is poised to deliver unprecedented benefits to the financial services industry on the Isle of Man.
Cryptocurrencies are a suite of revolutionary new technologies that allow users to send money directly to each other over the internet, anywhere in the world, quickly and almost for free. NXT’s speed and versatility make it the ideal choice for a wide range of applications beyond money transfer, providing the backbone of a far-reaching digital economy.
Introducing NXT
Local business, banking and government representatives are invited to attend NXT Seminar at the Forum, Mt Havelock, Douglas at 5pm on 1 July, which will introduce NXT to a wider audience and explain how this powerful technology can be integrated into new and existing applications. The seminar will be delivered by Lee Gibson Grant, NXT entrepreneur and founder of TXT Coins Now.
The TXT Coins Now platform was built back in 2010 as bolt-on service for mobile operators and financial institutions that required an off-the-peg solution for their customers. The company has adopted NXT Coin as its default currency. Their platform is highly scalable and its use in real-world financial services applications will allow its users easier access to NXT Coin, too.
TXT Coins Now is a merger of Micropayment, Western Union, Escrow and PayPal for both the Fiat and Crypto Sectors. The business leverages NXT to allow customers to send funds anywhere on the planet via a simple text message or voice call, without any internet connection or further applications. Additionally, its verification step protects merchants by establishing that the transaction is legitimate.
Merchant benefits
ATM providers and POS providers will be able to link to the network via its merchant facilities, enabling merchant outlets to accept both fiat and crypto. This gives NXT Coin a cutting edge real-time financial network that bridges the NXT and fiat marketplaces.
‘Many jurisdictions have been sceptical or slow to move on cryptocurrency,’ Lee Gibson Grant comments. ‘But platforms like NXT can bring immense benefits to businesses and customers – reducing costs, delays and security risks to near zero. It’s enormously encouraging that the Isle of Man recognises this and is at the forefront of the cryptocurrency movement.’
Famed for its eGaming regulation and pro-enterprise culture, the Isle of Man is the ideal location for cryptocurrency and finance businesses to come together. The island recently positioned itself as a cryptocurrency hub, and in the coming days and weeks a series of initiatives will bring NXT and its developers into the mainstream.
World’s first regulated cryptocurrency exchange
NXT are in discussions to be listed on CoinCorner, a new exchange due to launch shortly, which aims to be the world’s first cryptocurrency exchange registered with a financial regulator – namely the Isle of Man FSC. CoinCorner will allow users to exchange crypto for GBP with no deposit fees and has been built by a team of seasoned programmers and cryptocurrency miners. Bitcoin has seen a number of high-profile thefts and scandals in its short history resulting from the proliferation of unregulated exchanges, and such a step is vital in allowing the public to buy and sell NXT and other digital currencies quickly, easily and securely.
Additionally, there are a number of financial bureaux actively considering incorporating NXT into their business models. NXT will also be included as a payment option at the Java Express Coffee Shop and Noodle Bar on Prospect Hill in Douglas. At the NXT Seminar on 1 July, NXT coins equal to the value of a cup of coffee will be distributed for use in Java so that delegates can see how easy and safe it is to use NXT Coin and TXT Coins Now.
During a visit by members of the NXT community to the Isle of Man over the past two weeks, numerous meetings have been held with Manx service providers such as Dixcart, Manx Telecom and Capital Invest, along with many others who are interested in cryptocurrencies and would like to discover more about the benefits that NXT, its community and developers offer for the legal and regulated services they would like to launch. Meetings with government officials and local lawyers have also been held to gather as much information as possible to position the Isle of Man and NXT Coin for the up and coming crypto boom.
Second generation cryptocurrency NXT is poised to deliver unprecedented benefits to the financial services industry on the Isle of Man.
Cryptocurrencies are a suite of revolutionary new technologies that allow users to send money directly to each other over the internet, anywhere in the world, quickly and almost for free. NXT’s speed and versatility make it the ideal choice for a wide range of applications beyond money transfer, providing the backbone of a far-reaching digital economy.
Introducing NXT
Local business, banking and government representatives are invited to attend NXT Seminar at the Forum, Mt Havelock, Douglas at 5pm on 1 July, which will introduce NXT to a wider audience and explain how this powerful technology can be integrated into new and existing applications. The seminar will be delivered by Lee Gibson Grant, NXT entrepreneur and founder of TXT Coins Now.
The TXT Coins Now platform was built back in 2010 as bolt-on service for mobile operators and financial institutions that required an off-the-peg solution for their customers. The company has adopted NXT Coin as its default currency. Their platform is highly scalable and its use in real-world financial services applications will allow its users easier access to NXT Coin, too.
TXT Coins Now is a merger of Micropayment, Western Union, Escrow and PayPal for both the Fiat and Crypto Sectors. The business leverages NXT to allow customers to send funds anywhere on the planet via a simple text message or voice call, without any internet connection or further applications. Additionally, its verification step protects merchants by establishing that the transaction is legitimate.
Merchant benefits
ATM providers and POS providers will be able to link to the network via its merchant facilities, enabling merchant outlets to accept both fiat and crypto. This gives NXT Coin a cutting edge real-time financial network that bridges the NXT and fiat marketplaces.
‘Many jurisdictions have been sceptical or slow to move on cryptocurrency,’ Lee Gibson Grant comments. ‘But platforms like NXT can bring immense benefits to businesses and customers – reducing costs, delays and security risks to near zero. It’s enormously encouraging that the Isle of Man recognises this and is at the forefront of the cryptocurrency movement.’
Famed for its eGaming regulation and pro-enterprise culture, the Isle of Man is the ideal location for cryptocurrency and finance businesses to come together. The island recently positioned itself as a cryptocurrency hub, and in the coming days and weeks a series of initiatives will bring NXT and its developers into the mainstream.
World’s first regulated cryptocurrency exchange
NXT are in discussions to be listed on CoinCorner, a new exchange due to launch shortly, which aims to be the world’s first cryptocurrency exchange registered with a financial regulator – namely the Isle of Man FSC. CoinCorner will allow users to exchange crypto for GBP with no deposit fees and has been built by a team of seasoned programmers and cryptocurrency miners. Bitcoin has seen a number of high-profile thefts and scandals in its short history resulting from the proliferation of unregulated exchanges, and such a step is vital in allowing the public to buy and sell NXT and other digital currencies quickly, easily and securely.
Additionally, there are a number of financial bureaux actively considering incorporating NXT into their business models. NXT will also be included as a payment option at the Java Express Coffee Shop and Noodle Bar on Prospect Hill in Douglas. At the NXT Seminar on 1 July, NXT coins equal to the value of a cup of coffee will be distributed for use in Java so that delegates can see how easy and safe it is to use NXT Coin and TXT Coins Now.
During a visit by members of the NXT community to the Isle of Man over the past two weeks, numerous meetings have been held with Manx service providers such as Dixcart, Manx Telecom and Capital Invest, along with many others who are interested in cryptocurrencies and would like to discover more about the benefits that NXT, its community and developers offer for the legal and regulated services they would like to launch. Meetings with government officials and local lawyers have also been held to gather as much information as possible to position the Isle of Man and NXT Coin for the up and coming crypto boom.
Monday, June 16, 2014
MyNxt Online Wallet now be trustless, open source and with new design
Starting on the 16th/June the myNXT.info Online Wallet (https://wallet.mynxt.info) will become a trustless wallet, and the client-side code will be open-sourced so anyone can review it.
This will add an extra layer of security to our users. The extra level of trust will help boost the online wallet adoption by both existing Nxters that were hesitant to use the wallet before, and also (and most importantly), will help encourage new people to join Nxt.
With this work, the myNXT Online Wallet becomes an on-blockchain, client-side trustless wallet, which is very similar to the leading Bitcoin online wallet Blochchain.info. The main objective is to make it dead-easy for new users to join Nxt without requiring downloads, java installs, or waiting for downloading of the blockchain.
Mynxt will also be adding a backup functionality so that our users can easily backup their wallet and even migrate to other Nxt clients if they choose to.
- Mynxt in brand new design
Existing users
Existing users don't need to do anything, their wallets are safe and not going to be affected. Everything we are developing is fully backwards compatible. Any existing users that wants to ensure that their wallets are also trustless (because when they created their account, the encryption was still server-side), will be able to change their master password using the new client-side encryption system.
What is Mynxt?
Nxt Online Wallet (http://wallet.mynxt.info)
Nxt online wallet is an html5 web app. It runs perfectly on iPhones or Android or desktop browsers. Anyone can put a link in their home screen and access it any time. Nxt online wallet is easy to use and users can access their Nxt account from anywhere. It has a responsive layout: works in PC, Mac, Tablets and Phones. Right now online wallet can be used for sending and receiving NXT coins. They can also check their balance in NXT, USD, EUR, BTC and other currencies.
- Antony Lewis (Singapore exchange itBit) is buying Nxt coins at the Cebexpo in Vienna by using Nxt Online Wallet
Safety first
Nxt online wallet was made as secure as possible. All accounts are 50 characters long, randomly generated. AES-256 is used to encrypt each account address twice (once using a site-wide key and once using the user's master password). Only SSL connections are accepted and all passwords are hashed (salted).
Brand New Tool: Nxt Forging Calculator (http://www.mynxt.info/forging_calculator.php)
Calculate how much you could forge! In NXT you forge instead of mining and how many blocks you can forge depends on how much NXT you have. Use this brand new calculator to find out how much you have forged.
Nxt Forwarder (http://www.mynxt.info/fwd/)
Use MyNxt.info as a gateway to Nxt aliases in the format <alias>.mynxt.info! This original feature connects the Nxt alias network with the regular internet. You can get people to visit a URL, see an image or a text and control this content via the Nxt network. If you have any alias, it is simple, just visit <youralias>.mynxt.info.
The new Mynxt block explorer (http://www.mynxt.info)
Explorer is now running on a better server. New home page shows the summary of interesting statistics. Asset explorer now shows list of assets, candlestick bars, history, buy/sell orders. Alias explorer, account explorer, transactions and block explorers were also enhanced. There are lots of new filters, pagination and information.
New Asset Exchange Transaction volume graph:
http://www.mynxt.info/charts/trades_asset_exchange_per_day.php
Nxt Alerter (http://www.mynxt.info/alerts.php)
Would you like to receive alerts every time there is a transaction in your Nxt account? Especially when coins are sent/received? Get e-mail alerts when your account finds a block or when there is any transaction, no need to keep client running. The system also supports alias operations and arbitrary messages.
The Nxt Alerter already sent thousands of messages to our users, every time a monitored account has a transaction or a block is found. The system can now send alerts every time an Alias Operation is performed or an Arbitrary Message is sent/received. This means you get Arbitrary Messages right in your email inbox, anywhere you are and without having to check your Nxt client.
Nxt Charts (http://www.mynxt.info/charts/)
- the total number of NXT accounts in existence per day
- the number of Nxt transactions executed per day
- the transaction volume (amount of Nxt transacted) in Nxt per day
- the total fees paid (as part of transactions) per day
Mynxt Public Nodes
15 Mynxt public nodes were deployed in December in 5 locations (Brazil, UK, Singapore, Australia and Japan). Their status can be checked here at any time: http://mynxt.info/server_status.php
This will add an extra layer of security to our users. The extra level of trust will help boost the online wallet adoption by both existing Nxters that were hesitant to use the wallet before, and also (and most importantly), will help encourage new people to join Nxt.
With this work, the myNXT Online Wallet becomes an on-blockchain, client-side trustless wallet, which is very similar to the leading Bitcoin online wallet Blochchain.info. The main objective is to make it dead-easy for new users to join Nxt without requiring downloads, java installs, or waiting for downloading of the blockchain.
Mynxt will also be adding a backup functionality so that our users can easily backup their wallet and even migrate to other Nxt clients if they choose to.
- Mynxt in brand new design
Existing users
Existing users don't need to do anything, their wallets are safe and not going to be affected. Everything we are developing is fully backwards compatible. Any existing users that wants to ensure that their wallets are also trustless (because when they created their account, the encryption was still server-side), will be able to change their master password using the new client-side encryption system.
What is Mynxt?
Nxt Online Wallet (http://wallet.mynxt.info)
Nxt online wallet is an html5 web app. It runs perfectly on iPhones or Android or desktop browsers. Anyone can put a link in their home screen and access it any time. Nxt online wallet is easy to use and users can access their Nxt account from anywhere. It has a responsive layout: works in PC, Mac, Tablets and Phones. Right now online wallet can be used for sending and receiving NXT coins. They can also check their balance in NXT, USD, EUR, BTC and other currencies.
- Antony Lewis (Singapore exchange itBit) is buying Nxt coins at the Cebexpo in Vienna by using Nxt Online Wallet
Safety first
Nxt online wallet was made as secure as possible. All accounts are 50 characters long, randomly generated. AES-256 is used to encrypt each account address twice (once using a site-wide key and once using the user's master password). Only SSL connections are accepted and all passwords are hashed (salted).
Brand New Tool: Nxt Forging Calculator (http://www.mynxt.info/forging_calculator.php)
Calculate how much you could forge! In NXT you forge instead of mining and how many blocks you can forge depends on how much NXT you have. Use this brand new calculator to find out how much you have forged.
Nxt Forwarder (http://www.mynxt.info/fwd/)
Use MyNxt.info as a gateway to Nxt aliases in the format <alias>.mynxt.info! This original feature connects the Nxt alias network with the regular internet. You can get people to visit a URL, see an image or a text and control this content via the Nxt network. If you have any alias, it is simple, just visit <youralias>.mynxt.info.
The new Mynxt block explorer (http://www.mynxt.info)
Explorer is now running on a better server. New home page shows the summary of interesting statistics. Asset explorer now shows list of assets, candlestick bars, history, buy/sell orders. Alias explorer, account explorer, transactions and block explorers were also enhanced. There are lots of new filters, pagination and information.
New Asset Exchange Transaction volume graph:
http://www.mynxt.info/charts/trades_asset_exchange_per_day.php
Nxt Alerter (http://www.mynxt.info/alerts.php)
Would you like to receive alerts every time there is a transaction in your Nxt account? Especially when coins are sent/received? Get e-mail alerts when your account finds a block or when there is any transaction, no need to keep client running. The system also supports alias operations and arbitrary messages.
The Nxt Alerter already sent thousands of messages to our users, every time a monitored account has a transaction or a block is found. The system can now send alerts every time an Alias Operation is performed or an Arbitrary Message is sent/received. This means you get Arbitrary Messages right in your email inbox, anywhere you are and without having to check your Nxt client.
Nxt Charts (http://www.mynxt.info/charts/)
- the total number of NXT accounts in existence per day
- the number of Nxt transactions executed per day
- the transaction volume (amount of Nxt transacted) in Nxt per day
- the total fees paid (as part of transactions) per day
Mynxt Public Nodes
15 Mynxt public nodes were deployed in December in 5 locations (Brazil, UK, Singapore, Australia and Japan). Their status can be checked here at any time: http://mynxt.info/server_status.php
Tuesday, June 10, 2014
How Nxt changed our lives? - James
There were 8 full BTC investors that each got 50 million NXT. The rest of 73 got mostly much smaller amounts. I cant say for sure, but I believe half a dozen of the original 8 (I am not sure who the other two are) have given away or sold off half or more of their 50 million along the way. It is simply a very hard thing to not cash out hundreds of thousands of dollars of profits! The smaller holders have most likely sold an even larger percentage on average than the half dozen. There are probably a couple dozen early adopters who purchased 10 to 50 million NXT on the open market. I would say less than 50 of the original 73 and early adopters who got it at 1 BTC per million NXT (!!) still have more than 10 million NXT. probably less than half a dozen still have 50 million and most of those would be the early adopters and not the original founders. So roughly 25 USD millionaires at current 6 cent prices would be my guesstimate. Most of these are down to their long term core holdings and most likely wont sell at any price, short of $1, cuz they already have all the fiat they need. Whats the rush, especially now that NXT is where it is? This means the active liquid NXT is probably around 250 million total, which is still plenty especially with the normal trading volumes of 1 million NXT per day. The deck has already been shuffled, I dont believe there is any organized coalition that can come up with more than 10% to 15% of all NXT. If you know people, you will know how hard it is to get any half dozen to agree on anything! I dont believe any other crypto has this level of dispersion. OK, NEM is fantastically dispersed, but it is not yet and dispersion is not what creates a great crypto. Concentration in few hands, like the three mining pools that have 66%+ of bitcoin, or the instamines for most alts, really make PoW coins insecure. So, while NXT isnt perfect, it is certainly better than PoW simply due to the fact that someone needs to control the majority of market cap(!) not just majority of current mining power. Even DOGE with decent market cap will be able to be attacked very soon and who does this attacking? The bitcoin miners! Yes, it seems they feel a duty to cram the bitcoin blockchain down all sha256 coins and that sure becomes the longest chain real fast. A big laugher for the bitcoin guys and a totally ruined coin for the alt.
Well I have proven that i am no genius, I just work really hard. At first, I was totally lost with this crypto thing, gee that was 6 months ago. Then with NXT being Java and me only knowing C, I started just doing tech support on the main BTT thread.
I started out with 2 bitcoins that I had a hard time getting. Finally had to by it via localbitcoins and paying $100 premium. That seemed wrong! I stumbled into Ripple and at the time (not knowing any better) it seemed like a big improvement over BTC. Actually, it probably is but it has a fatal flaw. The community there is half a dozen guys and a bunch of corporate forum moderators who dont tolerate anything anti-ripple. just mentioning NXT got me reprimanded. Seeing the huge spreads, low liquidity, buggy software and corporatization I predicted ripple would not last long, or at least it would fizzle.
I had sold off my real world assets to get $20K of crypto and by the time I figured out no alt was worth having I put it all into NXT. I had about 600K NXT. Then the whole peercover disaster got me. They lost 150000 NXT during their development of their NXT gateway into ripple and they would have had a hard time surviving if they had to cover it. So I sent them 25% of my total NXT to cover there losses. When it finally came online, it was rejected by most of NXT community, even though it was a viable path to fiat 6 months ago.
One of the big problems of ripple is that they have two major USD gateways, bitstamp and snapswap with peercover a third. The values were often 20%+ different. With the rippling automatically siphoning off the good bitstamp USD into the snapswap that was worth 20% less, it was a big problem. I had managed to make trading gains to overcome the 20% discount, but it took some luck and several good trades to pull out $25K from ripple into normal BTC and then NXT!
So, I started doing some USD conversion service at a 5% fee. Sounds crazy to charge people 5% for changing USd to USD, but people were clamoring for it and within minutes of the funds being available, it was all gone. So, "riskless" 5% was nice, but I had to pull it out of snapswap and send it to bitstamp. Then I had the idea of bypassung this and going from snapswap to peercover USD, maybe even make another few percent. Pretty clever huh? Well, it was fine until peercover got hit by bank fraud exactly the moment ~$10000 of my funds were going through. Poof! all gone. So, enough was enough. I had lost 150000 NXT and now $10000.
Along the way I became the largest WCG miner with a serverfarm I put together using borrowed funds. I was a bit late starting so I didnt get all the easy money, but for a couple of months it was more than paying the bills. So, added more and more servers on credit until I had over 180! On good days clearing $1 or even $2 per server. Soon I would recoup all that was lost, except the mining difficulty kept rising and rising and by end of Feb it was barely breakeven. then ripple announces they are cancelling the WCG program in 30 days. Ooops. I was on month to month, but I couldnt quite ramp things down in time, so profits became losses. Then XRP started to go from 25 XRP per USD to 30,to 40, to 50, ...
I figured it would bounce back so stupidly didnt convert the XRP, figuring after a ripple announcement of a big business deal, it would snap back, at least some. I had to recoup $70000 to breakeven from the stockpiled XRP. All I needed was it to get back to half its peak value. Well, instead of a happy announcement, we got the Jed announcement that he was going to sell 150% of the total market supply in two weeks. So instead of $70000, I was lucky to escape with $7000. And that took some quick trading to double what it would have been.
Looking at all that happened, it is quite surprising that I am where I am today!
Ah, there were three things I did right. I burned a dozen BTC for XCP and purchased and mined DRK in early Feb. So all the horribleness of the ripple based fiasco was erased with the recent DRK explosion in price. My 50000 DRK went from being worth $10000 to $500000! Actually it wasnt that good, as I kept selling off half each time it doubled after I was able to clear my bills. I was too busy to figure out how to get my XCP to an exchange and sell off half when it would have got me 150 BTC, but still I was able to clear something like 400 BTC.
The third thing I did right? Oh, work 80+ hours per week on NXT and started programming in late Feb. programming has always been my fallback, so the same week DRK pulled me out of debt and got me hundreds of BTC, it was only the second biggest thing. NXT AE had created a market cap of some mind boggling amount. I only sold to private investors and just small amounts on the open market. Most all the volumes of my assets are from the early investors and people who purchased on AE.
I strongly feel that NXT is going to get a lot bigger in the future. I have had this feeling from the moment I found out about it last christmas. Assuming that this is the case, then I conclude that NXT based businesses, especially automated ones will act as leveraged NXT. The critical element is for the business to scale with the NXT user base and NXT market cap. That is why I concentrated on financial and tech assets. The financial ones are no-brainer. As NXT marketcap grows, NXTventure will be able to finance larger and larger enterprises and its dividends will scale with NXT. The automated tech companies also will scale almost linearly, but at the high ends of NXT valuations it will not be able to keep up. However, if there is a large external market that it can cannibalize (like all centralized exchanges), its initial growth path will be much faster than NXT can possibly grow.
People say I am doing too many things. maybe I am, but I think this is better than not doing enough things, or not doing anything like some of my critics who are quick to criticize me but I dont see anything they are doing.
I would like to publicly thank aldrin for his generous support of my ideas and his critical donation to me during the darkest times. He just granted me a big chunk of NXT so I didnt have to worry about money. It was a lot more than anybody ever just gave to me before I did a project and with all my expenses covered for the rest of the year I was able to really concentrate on NXTservices instead of wasting time with bill collectors, finding rent money, etc.
Without aldrin I would have been forced to hire myself out as contractor just to pay back debt and bills (I didnt know about DRK going 50x yet). then most likely my NXT work would have been reduced dramatically.
All the TEAM members who now have about one third of what I originally had can also thank aldrin's generosity. I have worked very hard toward a bounty, only to have it suddenly taken away without any notice or conversation. This is not conducive to getting the best talent working hard. I have created a pretty ambitious vision of assets companies and while given time I could probably do most of it myself, I realized aldrin's wisdom. The more people that become vested in NXT, the better for NXT. So I did my usual too much thing and did too much recruiting :)
So, now I have gone from 2 BTC in hand to coordinating a TEAM of nearly thirty people, one third ownership of half a dozen operating asset companies with a market value of nearly 100 million NXT, in 6 months. I have made many mistakes and I will continue to make mistakes, but I am used to working extra hard to make up for them. I think it is easy for people to say that I became rich too easy, but the above leaves out many other battles I have had behind the scenes. It really wasnt as easy as it sounds.
What is most amazing to me about the NXT community is that the vast majority of people here are good people and are really helping each other as best as they can. The emules and fudster types are few and far between. I think the recent acrimony was due to the big money lost (not made) that put people on edge. I am just one small part of NXT. We just need to do what we can to help each other succeed and NXT is truly unstoppable. Just know this will be a several year marathon to complete the first stage and before the second stage will start.
James
18146608053740744717
NXT-DE2F-W76R-GL25-HMFPR
Well I have proven that i am no genius, I just work really hard. At first, I was totally lost with this crypto thing, gee that was 6 months ago. Then with NXT being Java and me only knowing C, I started just doing tech support on the main BTT thread.
I started out with 2 bitcoins that I had a hard time getting. Finally had to by it via localbitcoins and paying $100 premium. That seemed wrong! I stumbled into Ripple and at the time (not knowing any better) it seemed like a big improvement over BTC. Actually, it probably is but it has a fatal flaw. The community there is half a dozen guys and a bunch of corporate forum moderators who dont tolerate anything anti-ripple. just mentioning NXT got me reprimanded. Seeing the huge spreads, low liquidity, buggy software and corporatization I predicted ripple would not last long, or at least it would fizzle.
I had sold off my real world assets to get $20K of crypto and by the time I figured out no alt was worth having I put it all into NXT. I had about 600K NXT. Then the whole peercover disaster got me. They lost 150000 NXT during their development of their NXT gateway into ripple and they would have had a hard time surviving if they had to cover it. So I sent them 25% of my total NXT to cover there losses. When it finally came online, it was rejected by most of NXT community, even though it was a viable path to fiat 6 months ago.
One of the big problems of ripple is that they have two major USD gateways, bitstamp and snapswap with peercover a third. The values were often 20%+ different. With the rippling automatically siphoning off the good bitstamp USD into the snapswap that was worth 20% less, it was a big problem. I had managed to make trading gains to overcome the 20% discount, but it took some luck and several good trades to pull out $25K from ripple into normal BTC and then NXT!
So, I started doing some USD conversion service at a 5% fee. Sounds crazy to charge people 5% for changing USd to USD, but people were clamoring for it and within minutes of the funds being available, it was all gone. So, "riskless" 5% was nice, but I had to pull it out of snapswap and send it to bitstamp. Then I had the idea of bypassung this and going from snapswap to peercover USD, maybe even make another few percent. Pretty clever huh? Well, it was fine until peercover got hit by bank fraud exactly the moment ~$10000 of my funds were going through. Poof! all gone. So, enough was enough. I had lost 150000 NXT and now $10000.
Along the way I became the largest WCG miner with a serverfarm I put together using borrowed funds. I was a bit late starting so I didnt get all the easy money, but for a couple of months it was more than paying the bills. So, added more and more servers on credit until I had over 180! On good days clearing $1 or even $2 per server. Soon I would recoup all that was lost, except the mining difficulty kept rising and rising and by end of Feb it was barely breakeven. then ripple announces they are cancelling the WCG program in 30 days. Ooops. I was on month to month, but I couldnt quite ramp things down in time, so profits became losses. Then XRP started to go from 25 XRP per USD to 30,to 40, to 50, ...
I figured it would bounce back so stupidly didnt convert the XRP, figuring after a ripple announcement of a big business deal, it would snap back, at least some. I had to recoup $70000 to breakeven from the stockpiled XRP. All I needed was it to get back to half its peak value. Well, instead of a happy announcement, we got the Jed announcement that he was going to sell 150% of the total market supply in two weeks. So instead of $70000, I was lucky to escape with $7000. And that took some quick trading to double what it would have been.
Looking at all that happened, it is quite surprising that I am where I am today!
Ah, there were three things I did right. I burned a dozen BTC for XCP and purchased and mined DRK in early Feb. So all the horribleness of the ripple based fiasco was erased with the recent DRK explosion in price. My 50000 DRK went from being worth $10000 to $500000! Actually it wasnt that good, as I kept selling off half each time it doubled after I was able to clear my bills. I was too busy to figure out how to get my XCP to an exchange and sell off half when it would have got me 150 BTC, but still I was able to clear something like 400 BTC.
The third thing I did right? Oh, work 80+ hours per week on NXT and started programming in late Feb. programming has always been my fallback, so the same week DRK pulled me out of debt and got me hundreds of BTC, it was only the second biggest thing. NXT AE had created a market cap of some mind boggling amount. I only sold to private investors and just small amounts on the open market. Most all the volumes of my assets are from the early investors and people who purchased on AE.
I strongly feel that NXT is going to get a lot bigger in the future. I have had this feeling from the moment I found out about it last christmas. Assuming that this is the case, then I conclude that NXT based businesses, especially automated ones will act as leveraged NXT. The critical element is for the business to scale with the NXT user base and NXT market cap. That is why I concentrated on financial and tech assets. The financial ones are no-brainer. As NXT marketcap grows, NXTventure will be able to finance larger and larger enterprises and its dividends will scale with NXT. The automated tech companies also will scale almost linearly, but at the high ends of NXT valuations it will not be able to keep up. However, if there is a large external market that it can cannibalize (like all centralized exchanges), its initial growth path will be much faster than NXT can possibly grow.
People say I am doing too many things. maybe I am, but I think this is better than not doing enough things, or not doing anything like some of my critics who are quick to criticize me but I dont see anything they are doing.
I would like to publicly thank aldrin for his generous support of my ideas and his critical donation to me during the darkest times. He just granted me a big chunk of NXT so I didnt have to worry about money. It was a lot more than anybody ever just gave to me before I did a project and with all my expenses covered for the rest of the year I was able to really concentrate on NXTservices instead of wasting time with bill collectors, finding rent money, etc.
Without aldrin I would have been forced to hire myself out as contractor just to pay back debt and bills (I didnt know about DRK going 50x yet). then most likely my NXT work would have been reduced dramatically.
All the TEAM members who now have about one third of what I originally had can also thank aldrin's generosity. I have worked very hard toward a bounty, only to have it suddenly taken away without any notice or conversation. This is not conducive to getting the best talent working hard. I have created a pretty ambitious vision of assets companies and while given time I could probably do most of it myself, I realized aldrin's wisdom. The more people that become vested in NXT, the better for NXT. So I did my usual too much thing and did too much recruiting :)
So, now I have gone from 2 BTC in hand to coordinating a TEAM of nearly thirty people, one third ownership of half a dozen operating asset companies with a market value of nearly 100 million NXT, in 6 months. I have made many mistakes and I will continue to make mistakes, but I am used to working extra hard to make up for them. I think it is easy for people to say that I became rich too easy, but the above leaves out many other battles I have had behind the scenes. It really wasnt as easy as it sounds.
What is most amazing to me about the NXT community is that the vast majority of people here are good people and are really helping each other as best as they can. The emules and fudster types are few and far between. I think the recent acrimony was due to the big money lost (not made) that put people on edge. I am just one small part of NXT. We just need to do what we can to help each other succeed and NXT is truly unstoppable. Just know this will be a several year marathon to complete the first stage and before the second stage will start.
James
18146608053740744717
NXT-DE2F-W76R-GL25-HMFPR
Wednesday, April 30, 2014
Why should you accept crypto currencies and which one is the best? Fresh tips for merchants and businesses!
First of all, let's compare the transaction
sent from USA to China:
1 USD
|
1000
USD
|
1
Billion USD
|
The
fees go to:
|
|
Post / check
|
94 cents
|
94 cents
|
94 cents
|
Post
|
Bank Transfer
|
10 cents
|
5-100 USD
|
1 million USD
|
Bank
|
Credit Card
|
34 cents
|
40 USD
(merchant pays)
|
40 million USD (merchant pays)
|
Credit card company
|
PayPal
|
33 cents
|
5 USD
|
5 million USD
|
PayPal owner
|
Bitcoin crypto currency
|
5 cents
|
5 cents
|
5 cents
|
Bitcoin miners with strong computers
|
Nxt crypto currency
|
2 cents
|
2 cents
|
2 cents
|
All Nxt users*
|
Additional annual monthly fees: most
of the Banks and Credit cards, 30 USD/month for using Bitpay payment system/gateway
(Bitcoin-USD).
*All
Nxt users with stake at least 500 USD, using Nxt clients (the power of computer
is irrelevant)
Now
let’s compare the speed of transaction:
1 USD
|
1000
USD
|
1
Billion USD
|
|
Post /
check
|
1-6 weeks
|
||
Bank
Transfer
|
3-14 days
|
||
Credit
Card
|
1 minute
|
||
PayPal
|
minutes/days
|
||
Bitcoin
crypto currency
|
10 minutes - days (up to transaction fee)
|
||
Nxt
crypto currency
|
1 minute
|
||
Actual
cost of one transaction:
Actual
cost of the transaction:
|
|
Bitcoin
crypto currency
|
30 USD
|
Nxt
crypto currency
|
1 cent
|
Here
are only Bitcoin and Nxt crypto currencies, because all others: Litecoin,
Dogecoin or Blackcoin are only the clones based on the Bitcoin’s source code. While
Nxt is a brand new, written from the scratch, faster and cheaper than Bitcoin.
As
you can see, accepting any cryptos is much faster and cheaper than accepting
fiat money. And the best solution is probably using Nxt. The brand new currency
Nxt is not dependent on slow development of the Bitcoin developers - look how
fast is adding new features: nxtforum.org/general
The
aim of crypto currencies shouldn’t be to replace fiat currencies, but to expand
possibilities in the web payments. Since the internet doesn’t support any simple
payments from EU->US->CNY and so on. It is way easier and faster to use
crypto currencies in these cases. Also if you want to visit Argentina, you need
to use fiat exchanges 2-3x and always pay high fees. In crypto world there are
no country borderlines!
Nxt: the fastest crypto with most of the features
List of Nxt features:
- Running: 1-minute payment system, Alias system, Arbitrary Messages, Asset Exchange, Leased Forging, Nxt Multipool
- Will be released in summer 2014: Multigateway, Nxt Mixer, Nxt Torrent, Instant transactions, Account control/Phasing (= cold storage, escrow), Digital Goods Store
- Will be released later: Automated transactions, Cross Chain Transactions, Judgement (Reputation) System, Monetary System, Service Providers, IPO Businesses, Transparent Forging, Time Warp, Two Factor Authentication
In cryptos you trust in
math
Many
of us don't understand how cryptos actually work. But do you know how everything
about Visa or PayPal? In fiat money, you need to trust to your government. In
cryptos, you can trust in math.
Do you think using cryptos is not
safe? Let me show you, want can never happen in crypto world:
·
Savers with over 100,000 euros deposited in the Bank of Cyprus lost up to 60 per cent of
their deposited money.
·
The peak month of hyperinflation in Zimbabwe occurred in 2008 with a rate
estimated at 79,600,000,000% per month. Zimbabwe Dollars were ranging from 10
to 100 trillion within a one year period.
·
The bankruptcy of the Icelandic banks lead to enormous increasing of Iceland's external
debt.
·
The inflation in Argentina was over 20% during 2008
You
can't do this with cryptos, they are not centrally manipulated by country
leaders or finance bosses! Welcome to the free market! So actually using
cryptos is safer than depending on currencies centrally lead and manipulated by
the governments.
Risks? None!
Are
you afraid of price volatility? No problem in most of the crypto payment services!
All trades can be converted to USD instantly, if you want, so you don’t have to
care, what the current price of Nxt or Bitcoin is! So if a car costs one day 10
Bitcoins and the other day 11 Bitcoins, merchant always gets the same money –
5.000 USD. There are no fees if you use Bitpay (but you must pay 30 USD/month)
or you can use Coinbase and pay 1% fees for converting into local currencies.
Great features: Nxt - more
than just a currency
Remember,
how credit cards or pay pal can be used only for transferring the money? Crypto currencies 2.0 like Nxt allow you send
messages and use aliases. Don't be just a number! In near future you will use
one program for all communication and transactions with the customer. It will
be easier to contact your former customers and offer them special deals or
discounts…
Do you manage charity, crowd
funding or startups?
Cryptos have been extremely successful in the
non-profit industry. It got huge media attention, when crypto donations helped
to Wikipedia,
Wikileaks
or Olympic
team.
How to accept Nxt cryptocurrency?
You
can use payment gateway for cryptocurrencies - https://www.coinpayments.net or use
instructions: http://wiki.nxtcrypto.org/wiki/Automate_Nxt_for_your_website
Become a leader by
accepting crypto currencies
When
did your businesses add Facebook or Twitter? Crypto currencies are now like in
early years of Facebook. Not many users, not many games. But you probably know
Zynga's Farmville. Why are 200 million unique monthly active users playing FarmVille?
Because Zynga was the first. If you use a crypto momentum and become a first
business accepting cryptos, you can be like Zynga. Ahead of your competition.
Like Overstock.
How would benefit your
business if it had IPO on Nxt asset exchange?
Let’s compare the costs one more time:
The
costs of IPO
|
The length
of the process
|
|
WebFillings
|
$400,000
|
Weeks/Months
|
Grant
Thornton
|
$750,000
|
Weeks/Months
|
Audit
fees
|
$186,201
|
Weeks/Months
|
Board
of directors fees
|
$431,000
|
Weeks
|
Fees
for NYSE or NASDAQ
|
$35,000 -
$500,000
|
-
|
Nxt
asset exchange
|
$100 (= 1000 NXT)
|
10 minutes
|
And remember: anyone in the world
can invest in your company, without using a bank account, within seconds,
without fees and even with 1 dollar!
Nxt is like a Ferrari in the world
of crypto currencies
– faster (than Ford), with more features (than Ford), but also cheaper and with
less consumption (than Ford/Bitcoin!). Drive
a Ferrari, use Nxt!
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