Review on Nxt by phuong cong
Nxt is the world's first open blockchain using POS mechanism
Project Nxt launched in 2013 was one of the first projects to launch a POS consensus mechanism.
By 2016, Nxt owned by the jelurida company becomes an important part of the Ardor ecosystem. Overview of the Nxt project, it is an open source Blockchain platform written in java language, it can be a good platform for building decentralized applications and can develop into a private blockchain.
Nxt blockchain has obvious advantages over Bitcoin with its ability to save resources, better transaction processing speed and scalability.
The Nxt platform includes many core-level features, such as the Asset Decentralization System, the Market, and the Voting System, all of which are added to the NXT digital currency itself.
Nxt coin is traded on a number of reputable exchanges such as Bittrex and Hitbtc.
The total supply of the coin is 1 billion and is currently circulating in the market through staking
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Pros
- Nxt is the first project to apply a POS consensus mechanism that better solves scalability, transaction speed, and resource savings compared to Bitcoin's Blockchain.
- Generic framework for the tendency to use POS instead of POW's of the following projects
- It can exchange assets on a decentralized exchange, it can be said that Nxt is the first Blockchain in the field.
- The platform has been launched for 6 years and is still stable and it has very few bugs
Cons
- There are currently a lot of projects with new technology better than the POS mechanism
- The content in the NXT whitepaper seems outdated and the team needs to upgrade it if they don't want to be left behind.
