Nxt NXT to Power Ledger POWR Exchange

Crypto Pair Details: NXT to POWR

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.'

Power Ledger POWR

Power Ledger (POWR) is an Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. The platform provides consumers with access to a variety of energy markets around the globe and is meant to be scalable to various energy infrastructures and regulations. The market is based on a dual-token ecosystem operating on two blockchain layers, POWR and Sparkz. POWR tokens allow consumers and hosts providing energy to interface with the ecosystem and are protected through Smart Bond technology. POWR tokens can be converted into Sparkz tokens, which can be used for frictionless transactions in the energy exchange market. The initial coin offering for POWR tokens became the largest crowd funding project in Australia and the 14th highest in the world. Power Ledger’s team has immense expertise in both blockchain and electricity markets. They’re comprised of six Board of Directors in addition to over ten full time-team members. Power Leger’s five co-founders make up five of the six Board of Director seats of the company. The sixth board seat belongs to venture capitalist Bill Tai. Receiving his MBA from Harvard, Yai is a world-renowned venture capitalist. Tai’s experience is quite extensive; he is currently the Chairman of Treasure Data and also a Board Member of Bitfury and Boxer. Power Ledger’s POWR Presale sold out in just three days and raised over thirteen million dollars (AUD) in exchange for 190,000,000 tokens. After the presale, Power Ledger held an ICO to sell the remaining 160,000,000 POWR tokens allocated to Token Generation Event. After both rounds, funds raised totaled thirty-four million dollars (AUD). In addition to money raised from its presale and ICO, the Australian Government also awarded Power ledger a grant for 8 million dollars (AUD) to develop its technology and concept further. (Australia has one of the highest costs of electricity in the world and thus has a large stake in the overall success the company). Power Ledger provides a blockchain-based marketplace that can truly change the world. Taking power away from large energy companies, Power Ledger gives local communities the ability to sell their excess solar power to neighbors. Power Ledger has created an energy distribution and tracking platform that allows consumers buy carbonless, sustainable energy at lower prices than what’s offered by traditional electric companies. Power Ledger has plans to expand its operations to three continents worldwide and has amassed an army of powerful strategic partners to help achieve its goals. With the planned release of multiple applications for its platform in the immediate future, the project has positioned itself to disrupt multiple energy markets throughout the world creating a bright future for all participants involved in this green revolution.

SOURCE: COINGECKO

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