Review on Nxt by gregori cordova
a project with a great future in the industry with the most successful ROI record, backed by a company with a very good reputation
In the cryptographic ecosystem, cryptocurrencies have been used primarily as savings mechanisms or fast and efficient payment methods, but blockchain technology can be used for many other things and there are projects that take advantage of this by offering their users a range Very wide range of tools both to create decentralized applications with very varied use cases in the real world and successful smart contracts. NXT is one of those innovative projects that takes blockchain technology to another level. It has the milestone of being the first 100% proof-of-stake POS cryptocurrency created entirely from scratch, as an alternative to bitcoin, and in which other altcoins can be created through its platform. By having a POS governance system, users who stake their native NXT currency can obtain the same level of reward as other network users, and where it is not necessary to consume large amounts of energy or sophisticated software to participate. . The project was born in 2013 thanks to a user of the social network Bitcointalk, who proposed creating an alternative project to bitcoin and solving the existing problems in it, such as scalability, and having a completely different algorithm. At that time, about 21 bitcoins that had a value of $ 250 each were collected and distributed among 73 people who made their contribution by creating about 1 billion coins. The project was initially in charge of the NXT foundation, but later it would become part of Jerulida BV which is currently in charge of developing the project together with Ardor and Ignis (projects created under the same ecosystem)
This project has very valuable tools for companies to create digital assets of all kinds (bonds, commodities, trademarks) and to be able to exchange them as equals with other tokens created under its blockchain immediately and with very low commissions. which is undoubtedly a resource that can raise the cases of use and application of blockchain technology
Pros
- Through a process called transparent forging, the network is kept secure, by reducing the capacity of the dreaded attacks to 51% of the network, which makes any bifurcation of the project impossible.
- It has the milestone of being the first cryptocurrency to be written in the Java language with a 100% POS consensus system
- The platform also has its own integrated decentralized asset exchange, allowing tokens to be exchanged directly on its own chain.
- The project has the most successful ROI record in the entire industry since its launch since at that time the token was worth $ 0.0000168. and has reached peaks of up to $ 1.90.
- Since its inception, the project and its blockchain have had no scandals or security issues, and very successful tokens such as Ardor have been created.
- When carrying out transactions with NXT, the project also allows to include encrypted messages
Cons
- The platform needs to update its interface, as it looks too simple and outdated.
- Because in its beginnings it did not have much support from the community who accused the project of being centralized, it has not had much movement in the market
