Review on Nxt by Othere Obtentus
Open blockchain for application development
Nxt is a blockchain network that promises to expand upon modern blockchain technologies and improve it. By launching a modern cryptocurrency with the NXT trading mark, its key goal is to change financial infrastructure, crowd-funding, and governance. The network focuses on ordinary users and corporations. In order to build a digital currency, users with several different criteria may use Nxt or participate in DAO-style functions.
To achieve consensus for transactions, Nxt uses proof-of-stake (POS). This means there's a supply of stagnant capital. In comparison, you can't mine Nxt, unlike what it's like with Bitcoin. In specific, the platform 's architecture also focuses on promoting the development of software and the provision of financial services. Nxt has an integrated asset exchange, messaging system, platform, and more with that target in mind.
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Pros
- Users can use Nxt to create their digital currency
- Incorporated asset exchange, messaging system, and marketplace
- Focuses on individual users as well as corporations
- Written from scratch in Java
Cons
- the company that created Nxt has been more focused on their new project Ardor and its child chain Ignis
