Review on Nxt by Carlos Figueroa
Payment network with proof of stake consensus
Nxt as a project throughout its trajectory in the cryptocurrency market, has shown that, in terms of functionality in the blockchain, put at the time of its launch, it was one of the few crypto projects that did not depend on a network of miners to process transactions on the network, which also includes the amount of services that it includes with a decentralized and open process for all people, so that Nxt is constituted as an unalterable public ledger of transactions.
Compared with other chains, the structures of their services are varied, according to their decentralized exchange of assets that were one of the first to develop this market in a chain, with the advantage of issuing assets in the same chain, well said tokenization of a asset that represents a project or business by an entrepreneur. Given the characteristics of the chain, the ability to store data is very viable, which also allows the sending of encrypted messages that today a number of platforms also include this function. Since Nxt services are very broad and generalized to start a business within the framework of the blockchain, but the need to require Nxt coins to fulfill these functions is mandatory, so that the provision of currencies in traditional exchange is moderate, which is not It is no problem for the developer or normal user.
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Pros
- Project with a long history and without structural failures in its network.
- Pioneers in running a blockchain with a proof of stake consensus.
- You do not need a mining network for security matters and transaction processing.
- Enables an account control system with multiple signatures and metadata tagging.
- Uses a forging process to create new blocks in the chain.
Cons
- Most of its functions fall to Nxt, which can be risky due to the volatility of the currency's price, which can severely affect Nxt's functions.
