Altcoins

Nxt – descendant of Bitcoin

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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!

Comments

21 responses to “Nxt – descendant of Bitcoin”

  1. Bitcoin Mining Contract

    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
  2. Evan

    Beg one Nxt to start

    16945216153482153677

    Reply
  3. argl

    Where is the source?

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

    Reply
  4. DONT BUY BITCOIN MINING CONTRACT

    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
  5. New To NXT

    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
  6. John Adams

    18280127369483283274

    Thanks,

    Reply
  7. futz.co

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

    Reply
  8. ssd 121

    Start forging 6676763184906903924

    Reply
  9. Dan

    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
  10. Mike

    I got the Nxt client running.

    NXT: 7902986274005090417

    Reply
  11. Nas1132

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

    Please donate some Netcoins :
    10311942036651396296

    Reply
  12. Bugler1

    Please help me start. NXT: 13919498056112542455

    Reply
  13. ftft

    Begging for 1 NXT to get started:
    18088854286100044310

    Reply
  14. Beaugas

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

    9339013942978422667

    Reply
  15. NxtTester

    Starting up.
    Please donate some: 15299112382933298016

    Reply
  16. TheProximator

    I need to start mining
    Please donate some: 17388657285508664606

    Reply
  17. dEBASERpiX

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

    6880407382926919363

    Reply
  18. Newbie

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

    Reply
  19. jvff

    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
  20. genby

    Please help me start. NXT: 3187228099430362385

    Reply
  21. Peter

    Please help me start. NXT: 7950670660570530760

    Reply

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