Post
Topic
Board Announcements (Altcoins)
Re: NXT :: descendant of Bitcoin - Updated Information
by
Pouncer
on 19/02/2014, 23:14:12 UTC
Great summary, Ricky. Just a few comments:-

True Anonymity
Bitcoin transactions between wallets are recorded forever on its blockchain.  NXT  achieves true transaction anonymity via the no-trust-needed zerocoin (testing now) / zerocash (coming soon) protocol developed at John Hopkins University.
What about BCNext's original built in mixing feature?
"Nxt is being developed with payment privacy in mind.  I have not revealed details yet, but I can say that there is a special account in Nxt (recipient #0), later it will be used for advanced features (mixing, escrow, etc.)". I assume this will be available in April?
https://bitcointalk.org/index.php?topic=303898.msg3355477#msg3355477

Transaction Rapidity
Bitcoin takes 10+ minutes per block for a max throughput of 7 transactions per second (TPS), currently using a 16GB (and growing) blockchain.  NXT currently takes 1 minute per block, with improvements in block timing speedup and routine chain pruning expected to support an eventual 1000 TPS.

What about using automatic rather than "routine" chain pruning as per BCNext's original design?
"Each 525949th block (1 year) the blockchain will be shrunk (and checkpointed)"
https://bitcointalk.org/index.php?topic=317607.msg3409786#msg3409786
https://bitcointalk.org/index.php?topic=303898.msg3372610#msg3372610

Consider adding a very important feature "Instant transactions with guaranteed confirmation", again a key original design by BCNext.
Edited: https://bitcointalk.org/index.php?topic=316104.msg3386387#msg3386387

Thanks.