Website https://nexty.io/
Telegram https://t.me/nexty_io
Twitter https://twitter.com/nextyio
Facebook https://facebook.com/nextycoin
Whitepaper https://nexty.io/nexty-whitepaper.pdf
Yellow paper https://github.com/nextyio/yellowpaper/blob/master/Paper.pdf
ANN Thread https://bitcointalk.org/index.php?topic=2498919
How did you get used to choosing an initial coin offering before investing in it? Probably, you researched plenty of articles, reviews, video materials and different other sources of information. If you were an advanced user you attentively read its whitepaper and analized sceptical experts' opinions. But this time, we would like to pay your attention to a little unusual document which can be used for research of the project. We are talking about the Yellow paper.
What is a yellow paper?
We hope there is no necessity to explain what is white paper. Thus we are talking about a yellow one only. The fact is a yellow paper usually contains information that has not yet been formally accepted by the founders and developers of a project. Probably, it would be more familiar to name this document «preprint». It means that this document differences from a white paper a little.
What does Nexty want to say?
Thus we can draw conclusions that first, the Nexty team is actively developing and second, this information may be changed in some time. Anyway, soon we will be able to read a final version of this paper.
Now the document consists of the explanations of Proof-of-Foundation (PoF), DCCS, the way block sealers are rewarded and how the project prohit spammers.
The most interesting topics:
- Thanks to Yellowpaper we know that PoF was inspired by the other protocol – Proof-of-Authority which was improved by the Nexty's team by implementation a new confirmation system which named DCCS (Dual Cryptocurrency Confirmation System). Thus a totally decentralized system was represented by the project.
- To be honest, I have not noticed anything fundamentally new in the description of NTF and its meaning to DCCS. But there is an information about NTF total supply (10;000;000) which has to be distributed for the first 100 million NTY holders that joined in «Smart Staking» program. And that is the reason for the protocol's name – Proof-of-Foundation.
- There is an interesting note – the only role of NTF holders is block sealer. NTY community is their government, states the Yellowpaper.
- There will be a determination of a minimum NTY amount that has to allocated on account to become a block sealer. Probably, it is time to add to your vocabulary a new collocation – seal a block. What does it mean? This is a proposed term to describe «mine a block» in a private chain. There is no need to choose PoW mining, and another term can be used.
- Spam is a great fear of the Nexty's team. Zero transaction fee may cause sending multiple transactions simultaneously. In that case, a system blockage can happen. But the platform has prepared anti-spam methods. Among them the rule according to which the first transaction will be charged with a fee of 0.2 per account.
This document was posted on the 13th of June and was represented as a technical paper which explains the key technical issues. Also, there was an announcement of providing Technical Roadmap in the foreseen future.
Information of the author article about the Nexty
Bitcointalk.org user name: catendi
Bitcointalk.org user profile link: https://bitcointalk.org/index.php?action=profile;u=1328515
Nexty waller adress: 0xfcb1c48213c7a16bf1ef306679c05854feb91a00