Let’s put hands on the NXT cryptocurrency!

Let’s put hands on the NXT cryptocurrency!

Let’s put hands on the NXT cryptocurrency!

Even if you are a tech-savvy person or someone who reads through all the news media around the globe, chances are you haven’t heard of cryptocurrencies like Bitcoin. Cryptocurrency is much like normal currency but with two main differences – it is completely digital and independent of any central authority. This means no government agency has the ability to directly intervene in cryptocurrencies. Don’t worry, it is all legal!

Even if you are a tech-savvy person or someone who reads through all the news media around the globe, chances are you haven’t heard of cryptocurrencies like Bitcoin. Cryptocurrency is much like normal currency but with two main differences – it is completely digital and independent of any central authority. This means no government agency has the ability to directly intervene in cryptocurrencies. Don’t worry, it is all legal!

Bitcoin was the first cryptocurrency which came into existence in 2009 and since then the rush to get rich via cryptocurrencies has grown exponentially. As of 2013, the total value of fiat money supply tied up in Bitcoin was $1.5 billion and as of April 2013, the profits being made through a day’s worth of Bitcoin mining was around $680,000.

To understand the next generation of cryptocurrencies that have succeeded Bitcoin, it helps to be aware of some of the hidden limitations of Bitcoin. Bitcoin, a network sustained in large part by mega Chinese mining operations which make the network somewhat centralized, can be a tough nut to crack especially for newcomers. Bitcoin storage and transaction execution require a substantial initial investment of both finances and time and patience. These areas are where NXT flourishes and is giving birth to a potential next-generation cryptocurrency!

https://www.youtube.com/watch?v=dsNqAgwv20o

What is NXT?

At their core, virtually all cryptocurrencies are nothing but a set of algorithms and tons of lines of code. NXT’s codebase is written in Java by a developer known as BCNext. With a strong focus on user experience and reliability, NXT allows you to dip your hands in the field through everyday devices like your iPhone! Not only do you no longer need terabytes of hard drive space and super-fast processors, but NXT’s completely decentralized system also offers you a single platform accessible from anywhere in the world capable of handling loads of transactions, data storage and managing your precious ciphered coins. Also, NXT will make your transactions much less worrisome with nearly zero fees (and, yes, no hidden fees like Bitcoin) across the globe. Running for more than a year without any glitches, NXT has shown it has the “X factor” the industry of crypto coins needs to make a dent! And yes, mind you, NXT is not simply a copy of Bitcoin, but an entirely different and unique system.