NXT Monetary System Now Available for Test Drive
The NXT team recently announced the launch of its monetary system - an ecosystem that will allow users to issue private currencies - both POS and POW - on top of the NXT blockchain. The developers further released a set of parameters under which the new monetary system will perform. As per the available information, users will be required to "lock" a certain amount of NXT coins as collateral for the "currency" they are planning to release. The NXT protocol will meanwhile ensure that each generated currency has a unique name and code. These currencies can be deleted, while their code can be....
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Understanding the monetary system is foundational to seeing what’s wrong with the current system and to have a true grasp of Bitcoin and its importance.
A hard fork has been announced for the NXT crypto-currency, which will enable the long anticipated 'Monetary System' feature that allows for the creation of user-issued currencies by 'locking' NXT. NXT users can update now to the NRS v1.4.5 client, which will enable the Monetary System. This is a 'hard fork', which means that the upgrade is compulsory if you want to keep using NXT without ending up on your own separate block chain. Users of NXT must upgrade to the latest release by block 330000, at which point the Monetary System will go live. The new Monetary System feature will allow....
In order to understand Bitcoin’s potential role in the future, we must understand the monetary system of the present.
Storj is an open source project aiming to offer a completely decentralized, secure, and efficient cloud storage service that also serves as a peer-to-peer payment system like Bitcoin. Storj allows users to rent out their unused space to other participants. The network uses StorjcoinX (SJCX), as the currency for driving the network. In an effort to ensure a good performance, the Storj team has started a test phase for their network. The team is inviting users who want to participate and accurately deliver reliable and relevant feedback about the network operation. Storj nodes, or average....
Libertarian leader Jeffrey Tucker, CEO of Liberty.me and publisher of Laissez Faire Books, shared with Bitcoin Magazine his views on how Bitcoin is NOT a monetary system. Bitcoin Is Not a Monetary System. By Jeffrey Tucker. Every since I started writing about cryptocurrency last Spring, my inbox has become a hub for Bitcoin questions. I completely understand - even to me it's still the most implausible idea ever that some code-slinging, nameless geek somewhere could somehow invent a new currency made from 1s and 0s, throw it out there on an open forum, and (in a mere five years), it would....