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    Categories: Reviews

Is NXT a Cryptocurrency? Review, Technical Features and Forecast for 2018

Daily news sites publish news about hacking, theft and deception of users’ cryptocurrency. Each news leads to a thought: “When will this all end?”. The solution to this is the decentralized and safe platforms for buying, selling and exchanging cryptocurrencies. Therefore, we propose to review the cryptocurrency which, in fact, should not be considered cryptocurrency at all. It is NXT cryptocurrency.

Contents:
(please click the topic to scroll down to it)

  1. What is NXT cryptocurrency?
  2. NXT History of Creation
  3. Key Features of Nextcoin: Pros and Cons
  4. How to Create a NXT Wallet
  5. Prospects of NXT: Expert Forecasts for 2018
  6. Conclusion

1. What is NXT cryptocurrency?

NXT cryptocurrency is a unique invention, based on the IT-technology blockchain. The uniqueness lies in the fact that the platform was created from scratch. It was planned by the developers to get as far as possible from being similar to the world’s #1 cryptocurrency Bitcoin. NXT has such a functional that no cryptocurrency has been able to offer so far.

We did not mention the topic of security in the beginning of the article just by chance. While creating the cryptocurrency, NXT’s developers conducted preliminary analysis, which helped them to remove all the vulnerabilities that were discovered in Bitcoin’s work.

2. NXT History of Creation

The creation of NXT started being discussed for the first time on the 28th of September, 2013, and the day after the first beta version of the program was launched. The first block genesis was formed on the 24th of November, 2013. The project had its own initial emission, during which 1 billion NXT was created.

3. Key Features of Nextcoin: Pros and Cons

We will not consider the PoS algorithm integrated into the system, as it can not surprise anyone today. It is better to focus on other technological features.

NXT developers took the possible risks that may arise due to the connection with cryptocurrencies exchanges into account, because they can become bankrupt or just suddenly stop operating at any time. Therefore, a cryptocurrency exchange NXT Asset Exchange with its own NXT cryptocurrency was developed.

Not to mention the PoS at all is impossible, because this technology makes the production of cryptocurrency by mining an absolutely eco-friendly activity. The project also has an additional service on the decentralization of the DNS, which is an anonymous community.

Pros:

  • absence of emission;
  • miners can earn on commissions;
  • energy efficiency;
  • minimal commission for transfer;
  • the main client is developed on a new algorithm.

Cons:

  • no control center;
  • no control over transactions;
  • an unstable rate.

4. How to Create a NXT wallet

NXT developers created and released a wallet for their cryptocurrency which is available for download from the official site of the platform. Digital coins are stored on the NXT network.

If you want to use your own wallet, just go to your personal account. To maximize your savings, you need to come up with a long password. Some recommend taking a line from a song.

5. Prospects of NXT: Expert Forecasts for 2018

Experts from the field of cryptocurrency foresee the sustainability of NXT’s price in 2018. The price of the cryptocurrency will be fixed firmly at $5 per one digital coin.

6. Conclusion

NXT is, perhaps, the only cryptocurrency that is hardly compared with Bitcoin due to technical features. At the same time, these features cause confusion and doubt among some participants of the cryptocurrency market. However, this does not reduce the value of the project as a platform for creating decentralized solutions.

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