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Nxt is an open source cryptocurrency and payment network launched in November by anonymous software developer BCNext. It uses proof-of-stake to reach consensus for transactions—as such there is a static money supply and, unlike bitcoin , no mining. Nxt was specifically conceived as a flexible platform around which to build applications and financial services.
Users can also create new currencies within the system. The last major release enabled Multisignature capabilities and a plugin-system for the client. On 28 September Bitcointalk. On 18 November fundraising for Nxt was closed. It revealed that 1,,, coins had been distributed to 73 stakeholders in proportion to their level of contribution.
Meant to serve as building blocks for businesses to construct Blockchain solutions for particular problems. The core infrastructure of Nxt is complex.
This adds risks as compared to the more lean bitcoin, but makes it easier for external services to be built on top of the blockchain. A peer-peer exchange allowing decentralized trading of shares , crypto assets. Since the blockchain is an unalterable public ledger of transactions, the Asset Exchange provides a trading record for items other than Nxt. To do this, Nxt allows the designation or "coloring" of a particular coin, which builds a bridge from the virtual crypto-currency world to the physical world.
Arbitrary Messages enable the sending of encrypted or plain text, which can also function to send and store up to bytes of data permanently, or 42 kilobytes of data for a limited amount of time.
As a result, it can be used to build file-sharing services, decentralized applications, and higher-level Nxt services. Allowing holders of the currency or Nxt-Assets to vote in a cryptographically proven and externally verifiable way. This can be used for future development decisions, or for shareholder voting. It can also be applied to public elections and community based decision-making.
The standard Nxt client supports the installation of plug-ins. This makes it possible for external developers to add features or usability enhancements. The plug-ins are not contained in a sandbox. From Wikipedia, the free encyclopedia. For other uses, see NXT. Retrieved 21 December Retrieved 22 December Retrieved 14 June Bitcoin's Revolution Moves Beyond Currency". Retrieved 25 September Ethereum Ethereum Classic KodakCoin.
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Views Read Edit View history. In other projects Wikimedia Commons. This page was last edited on 29 April , at By using this site, you agree to the Terms of Use and Privacy Policy. The language s of this currency does not have a morphological plural distinction.
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