Review on Nxt by Aman Arora
Nxt was the first platform that was built on Java & has a potential to revolutionize blockchain technology
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Nxt is an open source platorm build on in order to provide users something beside just financial value. Bitcoin and other crypto platform is a technology that required proof of work to mine and generate profits for the miners & then those coins are store in digital wallets.
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Mining bitcoin power hardware and several other equipments which requires lot of time experience to mine but that is not in the Nxt which says you earn when you stake and with this staking facility you earn a right or share in the company and more you stake more benefits you will be provided.
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Nxt, on the other side a platform which provides facility of proof of stake & traders are paid for holding NXt on the platform wallet and hence get paid by Nxt platform. You provide additional benefit for staking Nxt tokens as voting rights & use the token on NXt digital assets platorm and exchange it for goods and services. Nxt also cover most of the daPP features and is a perfect example for several other blockchain implementations. Anyone can built its own token on the top of Nxt & rewarded anyone for using the tokens.
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As Nxt is built on proof of stake algorithm which means you earn when you stake and that facility will be added advantage where supply is limited to 1 Billion coins & it remained the same since its inception in 2013 & token supply cannot be increased.
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Token is traded on AEx Hitbtc and several other exchanges but most of the volume and liquidty is available on AEx & Hitbtc .
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Pros
- Nxt is the only platorm which was built on Java outside blockchain
- Nxt was build considering the fact to use the token beside financial values
- Multi utitlity and environment friendly and limited supply
Cons
- Outdate technology as Nxt was built on Blockchain 2.0 & we have gone way beyond that technology
- Several other tokens work on same technology provide more utilities and performed well
