Nxt cryptocurrency (NXT)
Nxt is an open-source blockchain platform and one of the first to use the Proof-of-Stake consensus protocol. also has the potential to revolutionize many aspects of our lives through the various decentralized applications that can be created with it. Today, Nxt remains one of the most proven platforms in the industry, influencing many other projects. With a variety of easy-to-use modular built-in features, Nxt covers most dApp use cases while being ideal for private blockchain implementations.
Review of Nxt (NXT)
Nxt is a cult project in the history of blockchain development. Launched in November 2013, it is one of the first proof-of-stake blockchains. Started by an anonymous developer who disappeared soon after, with a crowdsale that raised only a token amount, Nxt has built a wonderful community around it and spawned many successful follow-up projects, including its own platform, Ardor.
Benefits of Nxt (NXT)
- NXT has a simple yet flexible architecture that makes blockchain adoption easy. And can be extended to fit any public or private option use.
- Nxt claims to be the first blockchain to launch a user-friendly yet fully decentralized asset exchange. Anyone can issue and trade tokens on top of Nxt, and orders are matched and are executed directly on the block chain itself.
- The Nxt blockchain has been in development for more than 6 years. The Nxt team claims that during this period there has been virtually no downtime, no major bugs, no successful exploits. Millions of Nxt transactions have been conducted, establishing itself as a secure platform in the blockchain industry.
Disadvantages of Nxt (NXT)
- Some of the downside of the project is the weak marketing of the project. Nxt launched the coin in 2013, but was unable to immediately gain much support due to a lack of sufficient funding and several large ICOs that followed.
- Although many crypto projects have their roots in Nxt, some have managed to become more successful.
- Nxt is very well designed, but some users find it too complex because of the wallet, which reveals all the functions.
