In a world where terms such as “blockchain” and “smart contracts” are the new buzzwords, Nexty Coin is one of the newest kid on the block. Built on the Ethereum platform, Nexty is set to take the cryptocurrency space by storm. For business related concerns, Nexty Coin is a complete package: quick transactions, a reputable blockchain structure, zero transaction fees, and smart contracts.
Nexty Coin is mined on a particularly fast blockchain, in which the average block time is only two seconds. This compares with Bitcoin’s 10 minute block time, and is one of the lowest in the industry. The Nexty Coin system also supports up to 1,800 transactions per second: a high number compared to Ethereum’s 20 and Bitcoin’s 7 for the same time period. Transactions are further hastened by the QR code feature: scanning them quickly transfers transaction information between mobile phones.
The smart contracts features allow complex financial arrangements to be created and executed with Nexty Coin. Future payment schedules, and terms under which the payments happen, can be fed onto the system, and they all then get automated. Contracts are easily created in electronic format, and then enforced by the system by matching transactions with related good or service transfer. The inbuilt security and reliability features safeguard the interests of all parties involved.
Nexty Coin rides on the Ethereum foundation, and has a Proof of Foundation (POF) as its consensus algorithm. It is specifically geared to secure user confidentiality, while charging the lowest fees in the market, and ensuring very low price volatility. All this is accomplished through Nexty’s Duo Cryptocurrency Confirmation System, which not only reduces the transaction fees to zero, but even awards those doing the transactions with some little cryptocurrency as their transactions help mine the currency. Nexty coins are swappable with ethereum, and the underlying technology will become fully open-source in August, 2018.
The Proof of Foundation system involves the evolution of two coins with the Nexty structure: the Nexty Coin itself (NTY) and the Nexty Foundation (NTF). For the first 100 billion Nexty Coins, 10 million Nexty Foundation coins will be automatically generated. Additional Nexty Coins after the first 100 billion will not generate NTF coins. The total number of NTY coins that can be mined is 220 billion, and the long term vision is to have each such coin appreciating in value to equal a US dollar. Price stabilization systems will be at play to mitigate against volatility.
Nexty Coin will create its coin ecosystem by providing an API at its website for partnering with Fintech companies. It will be available for such online shops as Magento, Openchart and Shopify. It will also actively hunt for and nurture Fintech startups to further its reach. The more integrated Nexty becomes, the more stabilized will its price action become. It will be available in the Android, IOS and web platforms. Nexty Coin also has an affiliate program which awards members on a commission basis for every new member brought into the system. And finally, in addition to just mining the coin, users might also engage in its Smart Staking system, which rewards them according to how long they hold on to the coins as investments.
Telegram: https://t.me/nexty.io
Website: https://nexty.io