Progress Update: August (platform update & tester onboarding).

Shagen Arzumanyan
Aug 25, 2019 · 6 min read

Dear community,

August has been full of movement! We’re on the brink of opening up our fully developed trading platform to the world, and in the meantime, we restructured our company internally and took on new team members.

Internal changes

Our founder and lead developer Christiaan van Steenbergen has moved his full attention to the developments of our hybrid trading platform and blockchain. Gleb Jout, co-founder, set fill the CEO position and direct our organization.

Our team feels that this step is beneficial for our productivity and will increase our overall focus and chemistry. In the meantime, Sieger Joostens takes the position of COO, and I will be filling the Head of Community Management role. If you missed our initial announcement highlighting these changes, you may find it here! Additionally, we are happy to announce to have hired a new Marketing specialist, Yakub Sheikh.

Yakub has twoyears of experience in the cryptocurrency and blockchain industries, with a focus on blockchain project analytics, product management, growth hacking. His background consists of Ecole 42 Piscine C alumni, being an international lawyer and gamification guru.

In the coming weeks, we will continue to expand our team, specifically our marketing and legal departments.

NEXT.chain

Our network keeps growing! Since our supply is rather slim (about 4M circulating now), we didn’t expect to see the quantity of NEXT Masternodes grow so quickly, yet last week we hit 75. Community members that are fans of small asset supplies will definitely see this as great news since our circulation decreases. All Masternode Operators are required to submit KYC documentation and are capped in the amount of Masternodes they can launch.

Despite there being a 25,000 NEXT collateral requirement per Masternode, there is no hard-lock, and Masternode operators are able to freely move their coins whenever they wish. However, the downside of this is that they will break their chance for a seniority bonus. For more information on our Masternodes, please refer to the NEXT.chain section of our Whitepaper. I would also like to mention that listing on masternodes.online and similar websites have been impossible due to the fact that the NEXT Mainnet coin has no market yet. Together with the launch of our platform, the swap, and opening of all of our Markets, we will be able to list on these websites. Delta, Blockfolio, CoinMarketCap, and other tracking services are also on the list.

The merged mining aspect of our blockchain has seen a few issues. However, none of them stem from the blockchain itself, but simply the software of the mining pool that we utilized for Test & Mainnet. The software is a few years, old and the outdated platforms we tested have proven to be buggy and not able to provide a pleasant experience for our users.

This makes sense sense as Proof-of-Work (PoW) consensus mechanisms are less frequently seen amongst newer blockchains, and overall developments in the DLT-sphere have been focused on Proof-of-Stake (PoS) or alternative consensus mechanisms. Our development team is actively looking for new software so that our mining pool won’t cause any issues for those that contribute to mining block after block of our chain. If needed, we will invest time and effort into creating a pool ourselves. This matter is not currently of the highest priority. Nonetheless, we will find a solution. This will not impact the functioning of NEXT.exchange. However, we are open to suggestions from readers (info@next.exchange).

Asset creation (00X Standard)

Our regular readers are likely already aware, but for those who are not — Our blockchain supports assets. Assets created on NEXT.chain are of the 00X standard.

What does this mean?

Essentially, we’re building out our blockchain to become a mother chain for other currencies or any other asset from works of art to precious metals and other tangibles. You could say that this is the very first step towards delivering NEXT.genesis (IEO platform as described in our Whitepaper, page 20). Even better, we’re fully capable of creating our own NEXT stablecoins. 00X could be compared with ERC20, which is the most adopted token standard and based on the Ethereum blockchain. More information on how it works here. The language we support at NEXT is C+.

More details on Asset creation will be shared at a later date.

Testing of our Platform

Many of you have been waiting patiently, and finally, we can share the application form for testing! We couldn’t be happier knowing that there is a decent amount of people inside our core community, that are willing to help and contribute to our ecosystem. Please understand that not everybody will gain access to our public testing. We prefer to onboard 10 people who will show us tough love rather than onboarding 100. Hence we kindly ask you to fill out this form and we will reach out to you when and if you are selected. We will start sending out invites during the coming business week.

Internal testing by our team, which has been ongoing a few weeks now, has been positive. We hope to stress-test the platform by allowing a large group of testers to trade for as long as needed. We can’t put a time frame on this testing period since it will depend on how many bugs appear and the time needed to fix them.

Teasers of the platform

Announcement of an Announcement

There’s a lot of things brewing in the background, we’ve been in touch with several companies when it comes to helping us with marketing, development, listings, liquidity, and so forth. As you understand, no details can be given unless things are set in stone and contracts are officially signed. But what we can share is:

We are currently in discussion and planning to integrate a platform that will allow us to provide access for our users to acquire Bitcoin in over 300 purchase methods and local currencies. The platform holds offices in the United States, Asia, and Europe. In addition to payment methods, through our collaboration we are looking to gain liquidity, exposure to their over 2 million visitors, and to provide users the world over with easier access to the digital and decentralized economy through the NEXT.exchange platform.

CEO, Gleb Jout.

CryptoBenelux

The CryptoBenelux news platform and NEXT.exchange have reached a media agreement wherein Benelux will provide monthly updates and periodic updates for the NEXT.exchange community. See their first one here.

So, What’s next?

NEXT.exchange

Hybrid digital asset exchange | Blockchain | Launchpad