We are proud to announce that the NFD development team and community have become part of the Horizon family.
Horizon have been working closely with NFD for the last couple of months and our recent successful upgrade was due, in no small part, to the expertise and professionalism of their development team.
One of the main benefits to acquiring NFD and their development team is their work on Automated Transactions technology which extends the blockchain into other areas beyond digital currency and is something that we believe is a serious game-changer. The NFD team has been working on Automated Transactions technology for some time and has already deployed a working version on their testnet which will be ported over to Horizon, massively extending its functionality and ensuring that, unlike the majority of digital currencies, our platform offers serious benefits to real-world business and commerce.
NFD’s lead developer, Mathias (aka MaWo) will join the Horizon development team as lead developer and he also brings four more elite developers who will be working exclusively on extending the Horizon Platform.
Following the acquisition, NFD holders will be able to exchange their tokens for Horizon at a rate which is currently 25 NFD to one HZ (subject to change).
The exchange will begin on March 9th 2015 and will be handled through an automated system that has been specifically designed to control the rate of the exchange and distribution so there is no risk of coins flooding the market.
In the interest of maintaining a stable market and providing fair distribution, the NFD accounts with the least amount of tokens will be served first and the exchange will take place over 120 days, after which, all unchanged Horizon tokens will be sent back to the escrow account held by Poloniex.
Once the exchange period ends, NFD will become a legacy coin, and all assets will be considered to have been integrated fully into the Horizon Platform.
More details on the exchange will be made available as the start date for the exchange grows nearer.