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NXT Launches Next Generation of Cryptocurrency
NXT Launches Next Generation of Cryptocurrency
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PUBLISHED:
JANUARY
07
2014
NXT is the NXT generation digital currency that is in a league all its own. With the first all-new 100% Proof of Stake (PoS) code base, NXT is not an alt coin based off Bitcoin code. NXT takes a different approach launching with many groundbreaking features and many more to come after the initial launch. Along with the official launch, NXT is releasing the source code to the general public.

NXT is 100% PoS which means no mining takes place in the traditional sense. Instead, NXT is earned by clients collecting transaction fees for securing the network and processing the transactions. This leads to a 100% green (low energy) "mining" that is environmentally friendly and does not waste massive amounts of electricity to maintain the network like it does with Bitcoin.

NXT is the first to offer instant transactions by utilizing Transparent Mining, a first of its kind algorithm. Transparent Mining allows NXT to have instant transactions that eliminates conformation wait times while still being extremely secure. Transparent Mining also allows NXT to reach transaction speeds comparable to VISA and Mastercard, with the advantage of NXT transactions remaining anonymous.

NXT offers other services such as the Decentralized Alias System (DNS). This allows users to register a NXT Alias that points to a Universal Resource Identifier (URI), which can be anything from a web address, NXT account number, email address, or even a phone number. If you have an Alias enabled web browser you can enter "nxt:[Alias]" which will take you to the specified URI, such as nxt:google takes to you http://www.google.com. Currently there are plugins available for Chrome and Firefox that utilize the Alias system.

Bitcoin has been described as decentralized programmable money. NXT can then be described as something akin to a decentralized programmable economy with the built in feature of money. NXT is already number six on coinmarketcap.com with an estimated value of $73.2 million. NXT starts the new generation of cryptocurrency as the first true descendant of Bitcoin.

Additional Information

To learn more: http://nxtcrypto.org
To trade NXT please go to: http://dgex.com/ ; https://nxtchg.com/
NXT thread on Bitcointalk: https://bitcointalk.org/index.php?topic=345619.0
NXT Source Code: http://goo.gl/PQeiPX
Press release: http://www.thenxtcoin.com/NXTOfficialLaunchPressRelease.pdf

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