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What is cryptocurrency NXT (Nextcoin)

Cryptocurrency NXT is a completely decentralized cryptocurrency that is based on its blockchain. Therefore, to call cryptocurrency NXT is not correct, because the developers tired, and wrote the code from scratch to correct the shortcomings of the first generation of cryptocurrency. When creating the NXT, all the misworks of Bitcoin were taken into account, which later led to the creation of cryptocurrency using Proof of Stake model.

Technical aspects of cryptocurrency NXT (Nextcoin)

Official site – nxt.org

Year of foundation – 2013

Protection method – Proof of Stake

The algorithm – Proof of Stake

Capitalization – $130 000 000

Cost of NXT – $0.12

Maximum emission – 1 000 000 000 NXT

As we have already said, the use of the PoS algorithm is the advantage of NXT before Bitcoin, but this advantage in parallel becomes a small drawback. After all, when using such an algorithm, all coins must be released immediately, which initially makes the cost of NXT low.

Main features of cryptocurrency NXT (Nextcoin)

Since the use of the PoS algorithm is not new, so to the main features, we will not consider it, and stop at other points.

NXT developers have also worried that trading through cryptocurrency exchanges is associated with a certain risk, as the exchanges have a bankrupt property or simply close. That’s why they developed and built a decentralized exchange called NXT Asset Exchange.

However, not to remember about PoS will not work, because thanks to this technology, mining, i.e. extraction are ecological, in comparison with the production of Bitcoin. What else can be noted is the presence of a fully anonymous message service that is available through decentralized DNS.

Where to buy NXT. NXT Purse (Nextcoin)

Now the NXT coins are traded on the most popular exchanges Bittrex, HitBTC and Bittrex. Basically, it is a trade in relation to Bitcoin. On its own, the “native” market of NXT Asset exchange is only 1 percent of trades.

To store NXT coins you can use the NXT purse, which can be downloaded from the official website of the project. However, it will be not habitual on other projects wallet, it is so-called brain wallet, i.e. storage of a moment on which occurs in a network NXT. Go to your NXT wallet, you can through your personal account. There is just one “problem”, when you open a wallet, you will need to come up with a big password, you can use some phrase from the song.

Perspectives of Cryptocurrency NXT (Nextcoin)

At the time of the creation of the cryptocurrency NXT, it was very advanced, because it carried the design, the analogues of which at that time was not. Now there are many cryptocurrencies with similar functionality and features, so NXT was highly competitive by other projects. The NXT project itself is safe and efficient, and lightning-fast and cheap transactions make cryptocurrency nxt even more promising. However, as it really is, we don’t know. If developers manage to avoid serious mistakes, this project will have chances to survive in the conditions of fierce competition.

Conclusion

This is all information about the cryptocurrency NXT, which we were able to find on the Internet. In the future, we will take a detailed look at how to register the NXT wallet and how to use the NXT Asset exchange, and so far all. The feedback on NXT can be called reserved optimistic, so it remains only to wait. This is all dear friends, until new meetings.

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