NXT
NXTUSD 0.00079977
as of 2024-10-15 15:10:02 UTC
What
What is NXT (NXT)?
NXT is a cryptocurrency and a blockchain platform that was launched in November 2013. It was one of the first cryptocurrencies to use a Proof of Stake (PoS) consensus mechanism, which allows users to validate transactions and create new blocks on the blockchain based on the amount of NXT they hold.
The NXT platform was designed to be a versatile blockchain platform, capable of hosting decentralized applications, smart contracts, and digital assets. The platform also includes a built-in decentralized exchange (DEX) that allows users to trade cryptocurrencies and digital assets directly on the blockchain.
The NXT cryptocurrency is used to pay for transaction fees on the NXT blockchain, as well as for participating in governance decisions and network upgrades. NXT can be traded on several cryptocurrency exchanges and is available for purchase using other cryptocurrencies or fiat currencies.
While the NXT platform has been overshadowed by newer blockchain platforms like Ethereum, it remains an active and functional platform with a dedicated community of developers and users. The NXT platform has also spawned several other blockchain projects, including Ardor, which is a more advanced blockchain platform built on top of the NXT codebase.
Why
Why was NXT (NXT) invented?
NXT was created to be a more energy-efficient and versatile alternative to Bitcoin, which at the time was the dominant cryptocurrency. The creators of NXT aimed to create a blockchain platform that could support a wide range of decentralized applications, smart contracts, and digital assets, while also using a more energy-efficient consensus mechanism than Bitcoin's Proof of Work (PoW) algorithm.
The PoS consensus mechanism used by NXT allows users to validate transactions and create new blocks on the blockchain based on the amount of NXT they hold, rather than the computational power they contribute to the network. This results in a more energy-efficient and environmentally friendly blockchain platform, as it does not require the massive amounts of electricity consumed by PoW mining.
In addition to its energy efficiency, NXT was also designed to be a more versatile blockchain platform than Bitcoin, with built-in support for decentralized applications, smart contracts, and digital assets. The platform also includes a built-in decentralized exchange (DEX) that allows users to trade cryptocurrencies and digital assets directly on the blockchain.
Overall, the creators of NXT saw an opportunity to create a more efficient and versatile blockchain platform that could support a wide range of decentralized applications and digital assets, while also being more environmentally friendly than Bitcoin and other PoW-based cryptocurrencies.
Who
Who created NXT (NXT)?
The NXT cryptocurrency and blockchain platform was created by an anonymous developer or group of developers using the pseudonym "BCNext". BCNext announced the project in September 2013 and launched the platform in November 2013.
The true identity of BCNext has never been revealed, and it is believed that the developer(s) behind NXT wanted to remain anonymous in order to focus on the development of the platform rather than personal fame or recognition.
Despite the anonymity of its creator(s), NXT has grown to become an active and functional blockchain platform with a dedicated community of developers and users. The NXT platform has also spawned several other blockchain projects, including Ardor, which is a more advanced blockchain platform built on top of the NXT codebase.
When
When was NXT (NXT) launched?
2013-11-13
Where
Where can you buy/invest in NXT (NXT)?