Nxt – descendant of Bitcoin

Posted on November 24, 2013 by admin

Nxt (pronounced as “next”), a cryptocurrency based on Bitcoin paradigm.

Launched on 24th November 2013.

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.  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.

Mining is 100% proof-of-stake

Nxt setup instructions for Windows:

  1. Download and install Java from www.java.com
  2. Download latest Nxt client – Version 0.5- http://info.nxtcrypto.org/nxt-client-0.5.0.zip
    Remember to use the lastest client version!
  3. Start the command line in Windows (start -> “cmd”)
  4. Start the Nxt client using Java – java.exe -Xms512m -Xmx1024m -jar start.jar
  5. Open the Nxt client GUI in your browser – http://localhost:7875/ 
  6. Unlock the account using your passphrase (it should be a strong password), remember it – it is the only way to access your account
  7. You will see your account number in the left corner
  8. Get some coins and start mining – mining is proof of stake only!

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21 Responses to "Nxt – descendant of Bitcoin"

  • By Bitcoin Mining Contract December 1, 2013 - 23:02

    buying bitcoin mining hardware is a waste of money that you will never make back, thats why people are resorting to Bitcoin Mining Contracts

    Reply
  • By Evan December 5, 2013 - 18:00

    Beg one Nxt to start

    16945216153482153677

    Reply
  • By argl December 11, 2013 - 11:11

    Where is the source?

    For all we know it’s a malware that runs on an insecure runtime (Java).

    Reply
  • By DONT BUY BITCOIN MINING CONTRACT December 12, 2013 - 11:45

    buying bitcoin mining hardware is a waste of money that you will never make back,
    Thats why people are renting them out on the internet in scam contracts

    Reply
  • By New To NXT December 21, 2013 - 19:56

    Thanks for the instructions. I got my client up and running now!

    What I don’t understand is how to start with the mining. Do I have to buy and transfer some coins first?

    Help to start would be much appreciated!

    NXT: 16707886147699337356

    Reply
  • By John Adams December 26, 2013 - 16:56

    18280127369483283274

    Thanks,

    Reply
  • By futz.co December 30, 2013 - 07:05

    I just installed my server. Please donate some NXT: 8287095743426622597 and help me get started. Thank you!

    Reply
  • By ssd 121 January 2, 2014 - 13:58

    Start forging 6676763184906903924

    Reply
  • By Dan January 3, 2014 - 14:46

    I have got the client up and running, how do I start mining as it doesnt seem to be doing much.

    Do I need a coin to start?

    NXT: 3685281127648834288

    Reply
  • By Mike January 4, 2014 - 15:41

    I got the Nxt client running.

    NXT: 7902986274005090417

    Reply
  • By Nas1132 January 8, 2014 - 17:16

    Hi Guys. Much appreciated Next project. Nxt client is running and needs some Nextcoins to start up.

    Please donate some Netcoins :
    10311942036651396296

    Reply
  • By Bugler1 January 20, 2014 - 07:46

    Please help me start. NXT: 13919498056112542455

    Reply
  • By ftft January 20, 2014 - 15:16

    Begging for 1 NXT to get started:
    18088854286100044310

    Reply
  • By Beaugas January 20, 2014 - 16:23

    Stumbling around trying to start. Need some to start??

    9339013942978422667

    Reply
  • By NxtTester January 24, 2014 - 20:02

    Starting up.
    Please donate some: 15299112382933298016

    Reply
  • By TheProximator January 27, 2014 - 15:59

    I need to start mining
    Please donate some: 17388657285508664606

    Reply
  • By dEBASERpiX February 3, 2014 - 15:57

    New to NXT and just started. A donation to get me going would be very appreciated:

    6880407382926919363

    Reply
  • By Newbie February 12, 2014 - 16:32

    Please help me start. NXT: 16936194640790392703
    Thank you ! Thank you very much !

    Reply
  • By jvff February 13, 2014 - 02:08

    Hello =)

    Getting started at crypto-currencies, and now trying to understand and check out proof-of-stake. Would greatly appreciate a starting help!

    Wallet (?): 751948930600593067

    Thanks in advance!

    Reply
  • By genby February 16, 2014 - 10:01

    Please help me start. NXT: 3187228099430362385

    Reply
  • By Peter December 10, 2015 - 05:53

    Please help me start. NXT: 7950670660570530760

    Reply

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