Post
Topic
Board Marketplace (Altcoins)
Re: [ANN] Nxt to NEX Buy In - Exchange 1 Nxt for 50 NEX (MODERATED)
by
FrictionlessCoin
on 24/01/2014, 10:17:59 UTC

(1) No database.
(2) Poor wallet security.
(3) Insecure proof of stake scheme.
(4) Difficult address formatting.
(5) Closed source
(6) Anonymous founder and anonymous developers
(7) 21 BTC buy 100% of 1 billion coins,  how fair is that?
(Cool Uneven distribution,  4 guys have like 70% of all the coins.


Please let us know what NEX will do compared to NXT.

(1 ) What database will you implement? What programming language btw.?
-> LevelDB.  Java
(2 ) How is the proposed security mechanism? Some pseudo-code would be nice.
-> Bitcoin like Wallet
(3 ) How is the currently implemented PoS insecure? How do you intend to improve it? Give some technical details please.
-> Hybrid with Proof of Burn
(4 ) How is the address space of NEX designed?
-> NEX id is just the public key of the user pass phrase.   There is no checksum.  There is no user recognizable identifier that it is a NEX id.  Public key therefore can be hacked because pass pass phrase follows human patterns.
(5 ) Where did you upload the alpha version of NEX? It's open from the beginning I assume, right?
-> When available, we will people know.
(6 ) You are Carlos Perez, correct? Who are your developers?
-> Carlos Perez is the lead developer.
(7 ) You plan to rise 1 Mio NXT as buyin,  how is that fair compared to the 21 BTCs?
-> We limit the amount of NXT you can buy.  We keep it open until all 1 million is consumed.   We do not close it early.
(8 ) How will you defend issuing NEX to the same guys (sockpuppet problem)? What will be your stake in NEX? What stakes will your partners and developers get?
-> We have are engaging several partners and this has yet to be determines.  The final distribution will be let know before a single NXT cent is spent.  Oh... sorry... did not realize that NXT doesn't have decimal places.

Best of luck with your Nxt.