NXT is an open source cryptocurrency and payment network, it uses proof-of-stake to reach consensus for transactions – as such there is a static money supply and unlike bitcoin, no mining. NXT was specifically conceived as a flexible platform around which to build applications and financial services. NXT uses the blockchain to create an entire ecosystem of decentralized features, all of which require the NXT currency. Instead of modifying the original Bitcoin source code, as many altcoins have done, NXT developers wrote their own code in Java from scratch. NXT is a public blockchain, licenses for private blockchains based on its software are also available for purchase. NXT remains one of the most tested and reliable platforms in the industry, influencing numerous other projects. Anyone can issue and trade tokens on top of NXT and orders are matched and executed directly on the blockchain itself.
Original author – (pseudonym)
Programming language of implementation – Java
Initial release – 24 November 2013
Development status – Active
Website – nxt.org