This is how NXT is described on their site. This is yet another new company getting into the crypto currency craze. So who is NXT? According to their white paper, they will “break crypto currency by being the world’s fist 100% proof of stake currency written from scratch, 100% green, and completely decentralized.” This sounds like a daunting task, but then all of the new crypto currencies are claiming to hold the title for some or other that involves this new currency.
What Does NXT Promise?
Not unlike other crypto currencies, NXT promises no mining on the Nxt network which will eliminate the risk of a 51% attack. NXT will be secured by Transparency Forging – the only one of its kind – Proof of Stake algorithms that will allow transactions that are safe, anonymous, and fast.
What is the NXT Generattion Green?
NXT states that they will be the leader in energy efficiency. The forging process will require lower processing power and can be performed on one’s phone.
The Features of NXT
It will provide 100% proof of stake crypto currency; new code, transparent forging; alias system; arbitrary messaging; asset exchange; and resource efficiency. As noted earlier, NXT is a new crypto currency, and as with other new currencies of this nature, we will have to wait and see how NXT pans out.