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NXT Fundamental Analysis


With a supply of 1,000,000,000 of which 99% is in circulation, NXT is one of the oldest, if not first multi-purpose crypto currencies. Created from completely original code, this blockchain has shown considerable resilience over the years ever since it started trading on Poloniex in May 2011. Aside from being completely permissionless with no central authority or censorship, it belongs to the first wave of alternative crypto currencies that sprang up, after some of bitcoin’s limitations started to become detrimental to the future growth of the fintech space. It currently has a market cap of $173,895,927 which is an increase of more than 15 times in just the last 3 months.

NXT allows for the creation and trading of user generated tokens, which are called currencies within the NXT Monetary System. Furthermore, there is also a decentralized marketplace (NXT Marketplace) that permits direct trading between buyers/sellers, without any oversight.

Tokens can be created via a NXT account. Most of the heavy lifting is conducted and verified through a users private wallet key, this ensures that only that specific user is responsible for all of the future activities that will be originating from the creation of said token.

Tokens can be used for speculation but they can also have functions beyond this basic scope. An example would be NXTPrivacy, aside from offering additional privacy related features, this token should lower costs in future that are going to be associated with hosting a NXT node. InstantDEX is interesting as well, a token that promises to offer realtime trading of NXT, NXT assets and other crypto currencies. Owners of the asset will receive dividends too. ARDR is an especially alluring NXT token to watch due to it being a compatible side chain with next generation functionality. There are at present, 859 NXT assets available, all are listed in detail at the https://mynxt.info website.

All of these NXT tokens are already being used and will probably continue to be of use in future. Additionally, some tokens have started migrating to the waves platform, a new project started by former members of the NXT development team. All in all, NXT and WAVES have bright futures ahead of them that will hopefully result in further growth for both platforms. These two ecosystem’s appear to be similar to ethereum and the accompanying token ICOs being run almost daily. There are hundreds of eth tokens in circulation as well, although the top 50 seem to be garnering the most attention via a site called https://ethplorer.io.

Voting is another core element of NXT and combined with their messaging system proved to be a solid foundation for community growth. This dedicated community is what has kept the whole ecosystem alive. Combined with strong built-in anonymity features available via an alias and a coin shuffling system, the NXT platform truly was and still is a very valuable part of alternative currencies as a whole.

NXT plugins are at the same time, an essential element and have allowed third party developers to even further expand the feature set of the platform. Decentralized data storage (NXT Data Cloud) is also possible and has helped the platform remain censorship resistant.

NXT has even started adding sidechains through the use of their Ardor blockchain service platform, the main chain is represented by the ARDR token. It is actively traded on Poloniex as a BTC pairing.


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