Altcoins

Nxt – descendant of Bitcoin

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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.

Comments

6 responses to “Nxt – descendant of Bitcoin”

  1. zib

    Definitely The BEST alternative to Bitcoin is NXT. A truley revolutionary second generation cryptocurrency and not simply a BTC or LTC clone!! 100% proof of stake with coloured coins and p2p exchange, 100% decentralised. Price will sky rocket on Jan 3 when open source code and NXT officially release!! Check out http://www.nxtcoin.org for now buy NXT on http://www.dgex.com

    Reply
  2. Martin

    The post by the gentleman above has the wrong website address. It is:

    http://www.nxtcrypto.org/

    Reply
    1. admin

      Yes, it’s been changed since nxt launch, corrected.

      Reply
  3. PPimp

    Check out the new descendant of NXT which is a new altcoin known as NEM. NEM does something great that NXT did not with allowing for equal distribution of coins to all the stakeholders!

    NEM is the New Economy Movement
    A groundbreaking crypto-currency that gives control of their economy back to the people and establishes them as sovereigns over their own destiny. A currency is an expression of a political ideology and social attitude. Cryptocurency expresses the idea of financial freedom and a new global economic order. There are many cryptocurrency, but do not mistake us as just another one.
    We are a New Economy Movement.

    Reply
  4. Nxt coin | Gryfen Cryp.toGryfen Cryp.to

    […] November 30, 2013 as a 100% Proof-of-Stake coin with coins being earned solely by charged transaction fees. All Nxt coins appear via transferring them from the blockchain. While Nxt coin is a descendant of […]

    Reply
  5. Nxt Altcoin – NXTinfo

    […] The total amount of in circulation is 1 billion. is resistant to +90% attacks via its transparent mi… […]

    Reply

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