Lunyr LUN to Nxt NXT Exchange

Crypto Pair Details: LUN to NXT

Lunyr LUN

Lunyr (pronounced Lunar), however, is one of the most unique implementations of blockchain yet, aiming to be a decentralized, and peer-to-peer knowledge database, aka the “Blockchain-based Wikipedia”. It strives to be the most innovative and comprehensive source of knowledge in domains like crypto projects, technology, finance, law, investment, and more, on the web. The cofounders of Lunyr are Arnold Pham, Andrew Tran, and Christopher Smith. The Lunyr ICO ended on 26th April 2017, with around USD 0.3 million in capital being generated. The open beta was then launched on 30th January 2018. It is based on the Ethereum network. The reward system which enables writers to earn rewards for authoring articles was also launched at the same time, allowing writers to earn LUN coins in exchange for quality pieces. Initially, Lunyr will mostly focus on the world of cryptocurrencies and related domains, with emphasis on up and coming projects. After an active and dedicated community of readers and writers is developed, Lunyr will branch into other areas such as science and technology, investment, finance, etc. Lunyr is unique in its vision, and usage of the blockchain technology in order to provide a comprehensive, decentralised, crowdsource, and peer-reviewed vault of knowledge, open and free to everyone. Lunyr aims to not only be a knowledge encyclopedia for the web, but also intends to enhance the blockchain technology by giving DApps (Decentralised Applications) the ability to tap into the knowledge base and access real-time data. This innovative feature can be used in applications ranging from Virtual Reality to Artificial Intelligence. The decentralised and peer-to-peer nature of Lunyr allows all content on the knowledge-base to be free from manipulation, and censorship. Since all submissions are peer-reviewed by the community, the chances of incorrect or dubious data making its way onto the encyclopedia are very low.

Nxt NXT

Nxt uses the blockchain to create an entire ecosystem of decentralized features, all of which require the Nxt currency. Instead of modifying the original Bitcoin source code, as many altcoins have done, Nxt developers wrote their own code in Java from scratch. While Nxt is a public blockchain, licenses for private blockchains based on its software are also available for purchase. The developers refer to Nxt as Blockchain 2.0, providing numerous applications beyond simply keeping a public ledger of transactions. Jelurida BV took over the originally anonymously developed Nxt and now own the IP rights. Kristina Kalcheva, co-founder and legal expert of Jelurida, focuses on how to “explore the different open source licensing models and their enforceability in practice.” Currently, the main developer is an anonymous Star Trek fan, going by the name Jean-Luc Picard. While there is still the active development of Nxt, the parent company Jelurida is also working on a Nxt 2.0, known as Ardor, designed specifically to deal with scalability. Ardor will use the same blockchain technology as Nxt, combined with the idea of ‘child chains.’ According to Travin Keith, Nxt foundation Web and Marketing manager, Ardor allows for a “manageable blockchain size, which solves the problem of scalability by separating transactions and data that do not affect security from those that do, and moving all of those that don’t affect security onto child chains.” The core infrastructure of Nxt is complex. This adds risks as compared to the more lean bitcoin, but makes it easier for external services to be built on top of the blockchain. A peer-peer exchange allowing decentralized trading of shares, crypto assets. Since the blockchain is an unalterable public ledger of transactions, the Asset Exchange provides a trading record for items other than Nxt. To do this, Nxt allows the designation or ''coloring'' of a particular coin, which builds a bridge from the virtual crypto-currency world to the physical world. The ''colored coin'' can represent property, stocks/bonds, commodities, or even concepts. Arbitrary Messages enable the sending of encrypted or plain text, which can also function to send and store up to 1000 bytes of data permanently, or 42 kilobytes of data for a limited amount of time. As a result, it can be used to build file-sharing services, decentralized applications, and higher-level Nxt services. Nxt had no mining phase, all initial units were released to 73 people through a one-time fundraiser via bitcoins, after the announcement of the NXT project in the bitcointalk-forums by BCnext. Combine this with a PoS approach, and you have a situation where the big guys run the table. At one point, the Nxt community had a very public spat with Bitcoin developer Jeff Garzik. Garzik took issue with the Nxt marketing approach, its anonymous developers, and their responses to constructive criticism. Nxt responded to some of these claims, of course, but it remains one of the more controversial moments in its history. Another key problem the Nxt network ran into (like so many others) was blockchain bloat. Nodes get weighed down by the onerous task of having to store every transaction on the Nxt blockchain. This was one reason (among others) why Ardor/Ignis came into existence.'

SOURCE: COINGECKO

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