Review on Nxt by Mayra Coba
We can create our cryptocurrencies with this network
This public blockchain has been written in Java and is known to be the first Blockchain 2.0. The software that it has will allow multiple uses going much further than being something simple.
Among the decentralized functions we can find what is the decentralized asset exchange where the assets represent anything and can be traded, a monetary system where we can create our own cryptocurrency and make it known in the market on the platform or any exchange that supports this system, we can also avoid third parties to be able to sell safely. It includes a voting system where surveys are allowed to be carried out in an anonymous, secure and decentralized manner. This function is useful for organizations or companies as such. We have the option of account control that is to have approvals at the time of making transactions. It has its own decentralized storage system that will be used to store any data in the block chain such as passports, certificates, licenses, results, etc. Most of these features are not free. Ah, I forgot that it also has a mix of currencies and assets to hide the provenance for an increase in privacy.
In general, this blockchain offers us endless essential functions that give rise to its cryptocurrency and will allow us to even create our own cryptocurrency, sell digital products without intermediaries and exchange assets. It really is novel and will serve for new owners or consumers.
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Pros
- Creation of own cryptocurrencies as a novelty for the companies themselves.
- We can store important data in the cloud service that this platform has included.
- Multiple decentralized functions that will allow us to give it greater use.
Cons
- The transaction fees, scalability and non-control in the sale of items.
