How is NXT different from Bitcoin and Ethereum?
NXT is blockchain that is effective alternatives to the initially more established chains of Ethereum and Bitcoin. This is a bold new step in cryptocurrencies, as the blockchain is not built on the same layers as the others. As a result, there are some inherent differences. One example is the shift from a proof-of-work protocol to a proof-of-stake.
Bitcoin has been based on the former architecture, making it effective as a store of wealth, but with slow transfer speeds limiting its applicability for payment processing. Ethereum may eventually shift to the proof-of-stake architecture, but this is after being originally founded with proof-of-work architecture. As a result, the payment processing speeds are not as effective, and the mining process requires a lot of hardware power. This is where Jelurida comes in - the NXT Blockchain - their flagship product, is a lot more energy efficient than both Ethereum and Bitcoin. It is also a lot more stable than the two.
What are NXT’s key features?
NXT has been an alternative to Bitcoin and Ethereum for the past four years. During the development and subsequent maintenance of the blockchain, some noteworthy features have been implemented, with a number of them unique to the NXT Blockchain. The first is the decentralized nature of the asset exchange. The NXT ledger is decentralized to provide greater security from malicious individuals who would seek to steal from the users of centralized exchanges. Second, the voting system has been developed to allow the development of polls with flexible ways of counting votes.
Additionally, assets can be created and traded, and digital goods can be purchased through the platform without having to rely on a centralized management system. Since the blockchain was implemented in JAVA.
One feature that is inherently different from other blockchains is the use of smart transactions. This should not be confused with the Ethereum smart contracts. Smart transactions use the conditional transaction execution feature that enables multiple parties to participate in the confirmation or rejection of a transaction. Additionally, it is more efficient since it is 100 percent based on the proof-of-stake protocol. The NXT Blockchain is a second generation blockchain that is distinctive from the others in the industry.
As a result, the NXT coin is a completely new cryptocurrency, designed from the beginning to do much more than just value transfer.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.