Nxt (NXT) -In our age, Cryptocurrency is nothing new anymore. As time unfolds, we hear of a new coin rolling into the system, some reliable some not so reliable. Most of the other Cryptocurrencies presently used are being powered by Bitcoin. The either rely completely on it or edit fractions of it for their development.
Nxt is a different fraction of the Cryptocurrency world. Other than just sit and build on what others have done, Nxt afford you the opportunity to create your own application using its Blockchain. Let’s explore some amazing facts about this new face of the crypto world.
A brief history of Nxt (NXT)
Nxt was released first in November 2013 by an anonymous software developer BCNEXT. The first idea was proposed on bitcointalk, and that resulted in raising 21 Bitcoin which at that time cost almost 5250 dollars. At the initial stage, 73 people based on the proportion contributed shared 1 billion coins.
To facilitate popularity for the coin, people received it later via giveaways, trades, and even bounties for on-going development of the Nxt platform. When BCNEXT stepped away from the project, the Nxt Foundation then was formed to help coordinate the activity of the coin.
What is Nxt (NXT)?
Nxt makes use of blockchain technology in creating an ecosystem of decentralized features which depends solely on the Nxt currency. Unlike other coins that modify and edit the original Bitcoin source code, Nxt team took their time to come up with a unique thing, developing their code with Java from scratch to finish.
Nxt is public Blockchain meant for the public, but there are certain license for private Blockchain based on its software made available for purchase. Nxt is referred to by its developers as Blockchain 2.0 since it provides several applications whose scope are beyond keeping a public ledger of the transaction.
What Are The Features Built Into The Nxt Platform?
Here are 5 distinctive and interesting main features built into the Nxt platform that should motivate you to use it:
Without the use of middlemen, you can easily sell your digital goods. After making a purchase for your digital product, you will receive a downloadable link for the goods.
- Assets and assets exchange
Through peer to peer exchange on the Nxt platform, you can trade assets which are in the form of bonds, reservations, movie tickets etc.
- Data Cloud
Instead of the conventional way of keeping your data on Google Drive or Dropbox, you can make use of the decentralized storage of Nxt Data Cloud. Important document owned by you can be stored on the cloud as this will help keep them secure.
You can store your certificates, contracts paper, and wills etc. at a rate which is not expensive. More details about the Nxt Data cloud can be obtained on the website of the Cryptocurrency: Nxtwiki.org.
When making a transaction, you can send message alongside. The messages sent are encrypted by default, so you can be sure that no one peeps through.
Another stunning feature of Nxt. With it, before making a certain transaction, you can request approval from multiples parties. This is mostly useful for cooperative organizations or charities.
- Coin shuffling
Coin shuffling is a feature that allows you to anonymize where a coin is coming from. Although the platform is not designed for everyday shuffling. Through this feature, you can create a new account and randomly distribute funds through multiple user accounts before you enter the new account itself.
Where Can You Purchase And Store Your Nxt (NXT)?
To purchase Nxt and benefit from its numerous functions, you can make use of Bitcoin to trade on exchanges like Bittrex and Poloniex. You may also trade Etherum for Nxt on the HitBTC platform.
Similary Nxt client can be used to store all your coins and make transactions.
Nxt (NXT), The Next Coin To Keep Tab On?
Talking about Cryptocurrency project that has fully explore the potentials of the Blockchain platform, Nxt ranks high. The coin is in fact doing what no other has ever done before.
With the latest development of Nxt knwn as Nxt 2.0. Ardor has numerous ICO’s and was created to fill some of the lapses of Nxt blockchain which includes scalability customization and blockchain bloat, making Nxt a complete techonology to use, why Nxt is the Next coin to keep an eye on.