Nxt: The Original Open Source Bitcoin 2.0 Platform With Smart Contracts, Decentralized Crowdfunding

Nxt: The Original Open Source Bitcoin 2.0 Platform With Smart Contracts, Decentralized Crowdfunding

With over 18 months of development, The non-profit Nxt Foundation is pleased to announce many disruptive business and financial applications of Nxt's blockchain technology: including trustless smart contracts, decentralized crowdfunding, a strong open source ethos and more.

is different. While there are many players in the cryptocurrency 2.0 field, Nxt has several key elements that set it apart from the others.

First and foremost, Nxt is a self-sufficient system. Many other projects depend on a blockchain implemented and maintained by an external party, usually Bitcoin. Nxt is a complete and self-contained system in itself. As any business owner knows, being dependent on a third party for an essential part of their business model introduces unnecessary risk.

This is why Nxt chose not to piggyback on an external blockchain over which it has no control, but has built all of its features onto its own blockchain. This also means that Nxt developers can quickly and easily create new features while maintaining a coherent system, without needing to consult with an external blockchain provider.

Secondly, Nxt has a solid and secure track record. The Nxt blockchain has been in continuous operation and use for 18 months, proving to be a stable system that can scale to handle an increasing load. Additionally, new features have been added on an incremental release basis after thorough evaluation on Nxt’s testnet. Many applications have already been built on top of Nxt, using its diverse features to create decentralised companies and software and to leverage the benefits of its strong community and network.

Thirdly, Nxt is open source and free! Nxt is not under development by a central authority. This may at first appear to be a weakness, but a glance at the extremely successful operating system Linux shows that central development is not needed to create a valuable and working architecture. Nxt has seen fast and dedicated development since its inception and is continuing to evolve with the input of many talented coders. As there is no barrier to entry to the Nxt ecosystem, it is a perfect environment for blue-sky crypto developments.

Just plug it in

The Nxt Cryptocurrency platform is modular by design. Nxt uses a variety of different transaction types that can be combined to perform more complex functions. In order to take full advantage of Nxt’s versatility, its developers have created a plug-in system that allows people to build applications and to share them with other Nxt users.

The plug-in system will go live with the release of version 1.5 of the Nxt Reference Software (NRS), Nxt’s native client. This release will also introduce blockchain Voting and Enhanced Multisignature Transactions (Phasing) to the Nxt core functionality. Developers on the Nxt Testnet are already experimenting with use cases, such as a crowdfunding plug-in (https://www.youtube.com/watch?v=JBsKVJYbitY), an e-commerce plug-in (https://www.youtube.com/watch?v=a6lcrNh9AuI) and several others.

The plug-in system is an example of the philosophy of flexibility and versatility that is at the heart of Nxt.

What it means for Nxt users

Nxt is eminently suitable for both business and non-commercial use. All of Nxt’s features can be accessed separately or in combination, using a simple but comprehensive API structure (

Nxt is fast, with an average block time of around 90 seconds. It is powerful, giving users access to such diverse features as asset creation and trading, separate currencies, data transfer and storage, blockchain voting and multisignature transactions.

Nxt is easy to build for, and those who want more information about how to use Nxt, or who need support on the more technical aspects of the Nxt systems, can contact the Nxt Foundation.

The Nxt Foundation (http://nxtfoundation.org/) is a non-profit organisation which can answer questions on Nxt, offer support, and connect businesses with the developers and advisors they need to take advantage of the unprecedented opportunities offered by the Nxt platform. Contact Nxt Foundation today at [email protected].

For more information about Nxt, please visit http://nxt.org/

Related News

Revolutionary Crowdfunding Platform Tecra Space Offers Amazing Opportunities ...

Tecra gives you a unique chance to invest in technological projects and promising startup ideas listed on its crowdfunding platform Tecra Space. Through implementation of blockchain solutions, such as tokenization, smart contracts, NFT, original cryptocurrency TecraCoin, DEX, and many more. The project strives to provide a next-level experience for those interested in getting the most out of the world of crypto. Find out how you can profit from investing your crypto assets in early stage businesses and innovative projects with Tecra Space. Tecra’s Next Level Crowdfunding Tecra is a....

Getting Over Ethereum’s Bad Days, Wings, SuperDAO, Status Test Platforms

Wings is different in scope from the troubled Ethereum’s DAO. The new platform is seeking to achieve a different result by test driving its crowdfunding and DAO platform for the launch of new projects. After the completion of its backing campaign, Wings released the alpha version of its platform. The alpha version gives everyone a basic idea of how their systems will work and provides a way to receive feedback. This demonstrates its difference on the market. Some examples of this are enabling projects to be independent in tokens, smart contracts, backing campaign and governance structure.....

Rootstock Contests Ethereum for Smart Contracts Domain

Ethereum and Rootstock are two different open source blockchain based protocols that can be used for creating smart contracts. Which one of them will see widespread adoption? Blockchain is a valuable contribution Bitcoin has made to the finance industry. The blockchain technology is being used in various crypto technology based platforms with an extensive range of application. Smart Contract is one such application created over blockchain protocols. We now have two blockchain based protocols that are built around blockchain related applications and smart contracts. One of them is....

Decentralized Dance Party Taps Bitcoin, Social Media, and Crowdfunding to Restore The Soul and Bring Peace

You've heard of open source networks. Now get ready for "Open Source Partying," courtesy of Tom and Gary's Decentralized Dance Party. Partying is nothing new, but the power of social media, crowdfunding, and cryptocurrency are making it happen in a new way. And the cryptocurrency evangelist Drew Glover, AKA Tom, happens to run BitNational, Canada's largest bitcoin ATM network. This week, they have expanded beyond their foundation in North America and are on their way to fulfilling a European tour starting Sept. 17, 2015, in London, England. Crowdfunding Will Launch Europe Tour. After....

Crowdfunding Platform Swarm Announces First Class of Startups

Decentralized crowdfunding startup Swarm has announced the first class of businesses that will feature on its bitcoin-powered platform. The crowdfunding platform's application process saw a number of groups submit applications, with a select few advancing to the video presentation stage. Entrepreneurs hoping to take part in the initiative pitched their projects, all emphasizing the importance of decentralized innovation. The company now says that five companies and organizations comprise its first class: Manna - a developer of smart personal drone networks. Coinspace - an operator of a....