Nxt – descendant of Bitcoin

nxt coin logoNxt (pronounced as “next”) is a cryptocurrency based on Bitcoin paradigm.

Nxt uses brand new software, it’s not a fork of Bitcoin source code.  Nxt improves different features of Bitcoin, removes some disadvantages (e.g. bloated blockchain) and resolves a big environmental issue.

Coins are earned solely by charging transaction fees. All coins will appear in Nxt via “transferring” them from the Bitcoin blockchain.  Not all bitcoins will be transferred hence the total number of coins is unknown yet. Time between blocks is one minute.

Official NXT website with installation instructions and client downloads: http://www.nxtcrypto.org/

Nxt is the first 100% Proof-of-Stake (PoS) currency.  Coins are earned solely by charging transaction fees.  Unlike other currencies with PoS mining, Nxt’s PoS mining does not cause monetary inflation.  The total amount of Nxt in circulation is 1 billion.  Nxt is resistant to +90% attacks via its transparent mining algorithm.

Nxt improves different features of Bitcoin, removes some disadvantages (e.g. bloated blockchain) and resolves a big environmental issue.  Time between blocks is one minute.  This increases the rate of orphaned blocks, but makes it more convenient for the users.

Nxt doesn’t use so-called “scripts” aka predicates.  This simplifies and accelerates transaction processing.  Advanced features like multisig will be created on top of the core as 3rd party services.

How to run a Nxt node to help the network? Here are detailed guides:

If you have invested in Nxt, it is beneficial to you to run a VPS to help to secure the Nxt network.  Hallmarking your node helps the network, but is not necessary.

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