JJ interviews Lior Yaffe Co-Founder, Managing Director, and Senior Developer of Jelurida. We start at the beginning and talk about the NXT Proof-of-Stake blockchain and the array of built-in features including secure messaging, asset creation and exchange, file storage, voting, a marketplace, and more! NXT has been operating for more than 4 years and the next big upgrade to the platform will launch ARDOR.
Stream this podcast episode:
or Direct Download this episode as an MP3 – Neocash Radio Interview with Lior Yaffe from Jelurida
Tune in to Neocash Radio every Wednesday night and
RETWEET ALL THE THINGS @NeocashRadio!
Built on the same technology as NXT, ARDOR will operate in a fundamentally different manner. ARDOR will create and maintain a standard full-length blockchain but the functions and features will be limited to security and record keeping. Built on top of ARDOR will be child-chains that maintain pruned blockchains consisting of only the last 24 hours worth of blocks or less. These child-chains will reconcile their transaction balances periodically with the ARDOR parent-chain through bundle contracts. Once a log of the transaction data has been secured on ARDOR the child-chains can then prune older blocks.
It is important to note that the child-chains only store transaction data on the ARDOR parent-chain. All features and functions that do not impact account balances are handled on the child-chain exclusively and can be pruned as needed. Basically ARDOR will keep track of which coins or assets are in which address at this point in time but little more.
The child-chain offers a bundle contract to prospective Bundlers when it is time to add a snapshot to the ARDOR parent-chain. The first child-chain is set to be IGNIS, so in this scenario the manager or operator of IGNIS would offer a Bundler 100 IGNIS tokens to add transaction data to the parent-chain. The Bundler would then pay a fee in ARDOR to have that transaction data added into an ARDOR block. In effect you have a flow of IGNIS tokens out of the child-chain and the consumption of ARDOR tokens for security. The Bundler can then keep the IGNIS or trade it for more ARDOR on the exchanges built into the protocol.
Jelurida is the name of the company that was formed to develop the ARDOR protocol. As part of the launch of ARDOR the initial (ARDR) tokens were distributed on the NXT platform at a ratio of 1 NXT : 1 ARDR. Those tokens will be migrated to the ARDOR platform at the launch later this year. The process will require a hardfork on the NXT blockchain during which ARDR tokens will be locked in their addresses and cannot be moved. Once the process is complete users will be able to log into the ARDOR platform with their NXT credentials and access their tokens.
To help fund the further development of the ARDOR platform and child-chains like IGNIS the Jelurida team is holding an Initial Coin Offering where 440,000,000 IGNIS tokens will be sold to the public. The ICO will start on August 5th, 2017 and occur on the NXT platform using the built-in asset exchange functions. This is a controlled currency sale where once purchased these IGNIS tokens may not be moved or traded. The tokens will be locked at their address until the launch of IGNIS/ARDOR.
Jelurida has set a cap of €50 Million for the crowdsale and if they reach that goal half of the remaining unsold IGNIS tokens, minus 60 Million IGNIS slated for Jelurida, will be distributed during the ARDOR Genesis snapshot to both IGNIS crowdsale participants and NXT holders. The remaining half will be held by Jelurida.
If they do not reach their goal of €50 Million any remaining unsold IGNIS will be held by Jelurida.
If they collect more than €50 Million they will not conduct the remaining batches and NXT collected in excess of the 40 Million NXT reserved for Jelurida will be sold.
To find out more click on the links below:
- ICO page https://jelurida.com/ico
- NXT Forum – https://nxtforum.org/
- NXT Chat Slack channel – https://nxtchat.slack.com/
- Jelurida Public License – https://www.jelurida.com/jpl
- NXT Wiki – https://nxtwiki.org/wiki/Main_Page
- NXT community site – https://nxt.org/
- Ardor marketing site – https://www.ardorplatform.org/
BTC Address: 1MmFwDeZPgxJ4GyzbfmZVLJv3aZcpxSfR5
ETH Address: 0xe4689EF88F239C6eed1Ff262876e2499495c1617
DASH Address: XtLEPo6DKeu45e2czdHLEb5EzJRVDz2aLZ
NXT Address: NXT-TT49-WV65-HZJA-5EJF9