Nxt uses brand new software. It’s not a fork of Bitcoin's source code.
Nxt is the first 100% Proof-of-Stake (PoS) currency. Coins are earned solely by charging transaction fees. Unlike other currencies with PoS mining, Nxt's PoS mining does not cause monetary inflation. The total amount of Nxt in circulation is 1 billion. Nxt is resistant to +90% attacks via its transparent mining algorithm.
Nxt improves different features of Bitcoin, removes some disadvantages (e.g. bloated blockchain) and resolves a big environmental issue. Time between blocks is one minute. This increases the rate of orphaned blocks, but makes it more convenient for the users.
Nxt doesn’t use so-called “scripts” aka predicates. This simplifies and accelerates transaction processing. Advanced features like multisig will be created on top of the core as 3rd party services.
Nxt is routable through Tor and I2P anonymous networks.
Nxt supports the following features:
- Decentralized Alias System / DNS - Complete
Register names and assign them to URIs. URIs can be anything from web addresses to Nxt account numbers. These aliases will be tradeable in the near future.
- Basic DDoS Protection - Complete
- Decentralized Asset Exchange / Colored Coins - Done, but not yet implemented.
This allows gateways to issue assets on the Nxt network. These assets can include cryptocurrencies (BTC, LTC, etc), fiat currencies (USD, EUR, RMB, etc), stocks and other assets.
- Transparent Mining - Complete.
Transactions are encrypted. Only PoS block generator can decrypt transactions.
- Arbitrary Messaging - Complete
- Instant Transactions - Requires peer review
- Decentralized Marketplace / Auction - In progress
Buy or sell goods/services in a distributed manner. All listings are broadcast to all nodes on the network in P2P fashion.
- Distributed Storage - In progress
- Multi-signatures - In progress
- Blockchain Shrinking - In progress
- Two-phase Payments - In progress
Software supported escrow transactions
- Voting System - In progress
- Reputation System - Will be implemented after Voting System
Account trust rating system. Check if sellers on the distributed exchange have a good history, if stock issuers pay dividends and if gateways honor their asset redemptions.
- Decentralized Mixing Service - Concept not ready - Cryptographers please contact core dev team members
- Distributed Computing - Concept not ready
- Smart Contracts - Concept not ready
- Hardware Wallets - Conceptual Stage - Java smart card developers please contact core dev team members
- Advanced DDoS Protection: Project Kharon - Conceptual Stage - Neural net programmers please contact core dev team members
Check the wiki out at
http://wiki.nxtcrypto.org/Those shitty altcoins you refer to are all cheap copies of Bitcoin. Just read the list of features that are up and running now. It is way superior to any crypto. Very soon the decentralized exchange comes into play. That is, economically speaking, the game changer especially at a time where exchanges are being chased out of China.
Bitcoin is great and will do great things but there is a major crypto storm coming and NXT is your only shelter. Yours and everyone else's.