NRS 1.7.4 – NXT Core Developer Explains the Latest Innovations

NRS 1.7.4 NXT core developer explains. A hard fork to a blockchain can be a nerve-racking process for both developers and users. Regardless of how many hours are spent testing a hard fork on testnet, it is always difficult to anticipate how an updated codebase will behave once deployed on main-net.

A hard fork to a blockchain can be a nerve-racking process for both developers and users. Regardless of how many hours are spent testing a hard fork on testnet, it is always difficult to anticipate how an updated codebase will behave once deployed on main-net.

This past weekend, upon reaching block 621,000, the NXT blockchain made a successful hard fork to version 1.7.4. The 1.7.4 NXT client is an exciting upgrade containing many new innovations that NXT developers have been working on tirelessly to bring to the public. I recently sat down with Riker, NXT project manager, and core developer, to have him explain the new features included in the latest release.

1. Coin Shuffling:

“A privacy feature that allows users to mix their funds quickly and efficiently with other users’ funds by creating a random mapping between the existing user accounts and a new set of recipient accounts provided by the shuffling users. This is essentially a sort of CoinJoin implementation on the NXT blockchain.”

2. Data Cloud:

“A central distributed repository for arbitrary data. Each item in the repository is signed and time-stamped so it cannot be tampered with. This feature is suitable for distributing files up to 42K and can be used as a bulletin board or as a free speech application.”

3. Stable Block Times:

“The developers have reduced the actual average block time to 60 seconds which has considerably reduced the number of blocks over 10 minutes, thus making block times much more stable.”

4. Account Control for Phased Transactions:

“All transactions from a controlled account have to be approved based on a specific voting model. You might consider it to be a sort of multi-signature account on steroids.”

5. Singleton Assets:

“These are tradable assets of which only a single unit exists. These assets can represent current ownership of goods such as a rental car, an apartment, jewelry, artwork, etc.”

https://www.youtube.com/watch?v=dsNqAgwv20o

With the implementation of these features, NXT developers continue to make NXT one of the most well-rounded, functional and versatile platforms available and a force to be reckoned with at the forefront of Bitcoin 2.0 blockchain innovation.

If you have not yet updated your NXT client to version 1.7.4, please do so immediately.

For more information on the new features built into NXT 1.7.4, you may wish to watch The Open Minute interview with Bitcoin Rush or check out the demo available on the NXT homepage.