Presentation and definition of the crypto-currency Nxt (NXT)
- Name of the crypto-currency : Nxt
- Acronym : NXT
- Where to buy Nxt ? Binance
- Date of creation : November 2013
- White paper of Nxt
- Website of Nxt
The network Nxt
Nxt is a crypto-currency open source as well as a payment system decentralized. The protocol uses proof of stake as a consensus for validation of transactions. The network allows sharing of assets digital, to communicate via the messaging that is encrypted and provides its users with a marketplace of shops, peer-to-peer decentralized. Nxt also allows you to create new currencies. The network revolutionizes the traditional exchanges because it allows you to exchange any crypto-currency in a decentralized way.
Nxt, as a crypto-currency to hand
The code of Nxt was written from scratch, so this is not a fork of Bitcoin, as it was often the case for new digital currencies to the days when Nxt was launched. Nxt stands out from other crypto-currencies already existing at several levels. It improves some aspects of Bitcoin, while trying to find solutions to the disadvantages. Nxt removes the problem of blockchain overloaded and the excessive consumption of energy.
The chips Nxt
The network uses tokens to Nxt. 1 billion units were generated in the first block, there will be no other possibility to create new pieces. On the network Nxt, it does not, therefore, mine.
Proof of Stake
Nxt was the first virtual currency to be based 100% on the consensus PoS, proof of stake (Proof of participation). To validate the transactions, Nxt does not use scripts. Transactions are simplified and much faster. In effect, the process allows you to create a new block every minute, each block containing a maximum of 255 transactions.