Nxt is a digital currency and decentralized platform for building applications and financial services. It enables users to make direct peer-to-peer payments, to have complete ownership over assets, and to engage in crowdfunding and token distribution.
Founded in 2013, Nxt is an original 'platform' cryptocurrency that expands the functionality and possible applications of blockchain technology. Nxt is also the first ever blockchain to use pure proof-of-stake for consensus.
Some of the possible applications supported by Nxt include:
- Peer-to-peer asset exchanges
- New digital currency creation
- Data storage, publication, and verification
- Secure voting/polling systems
- Decentralized Autonomous Organizations (DAOs)
The company behind development of Nxt, called Jelurida, has shifted the focus of their team to work on another blockchain platform named Ardor. Jelurida describes Ardor as "an evolution of the Nxt software that launched in January 2018 to address issues of blockchain bloat, scalability, and versatility."
What is Nxt? - Nxt
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What is NXT?
March 2nd, 2014
- CryptocurrencyA cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.
- ArdorArdor is a multi-blockchain platform that separates the network processing and security chain from the transactional chains.
- EthereumEthereum is an open-source, public, distributed blockchain computing platform featuring smart contract (scripting) functionality, which facilitates online contractual agreements.
- Decentralized application (dApp)A decentralized application (dApp) is a service that provides direct interaction between providers and end users providers through a blockchain or distributed ledger.