The NXT Index

We are happy to announce the addition of our NXT Index. It's the fourth of many altcoins that will be supported.

NXT is very different than the other cryptocurrencies that we list on this site because it is the only one that isn't based on Bitcoin's code. It has been completely rewritten from the ground up and it's founders claim that it is the first of many Bitcoin 2.0 coins. NXT is 100% proof of stake, which means that new coins aren't mined, they are generated through a process called forging that rewards users who are holding more coins. The more coins you hold, the more coins you generate for yourself. These coins aren't actually newly created, like in the mining process, but rather come from transaction fees. All NXT coins are already in circulation and no more will be added in the future.

NXT's advantages and disadvantages lie in the fact that it's underlying source code is completely different from Bitcoin's. This means that NXT may be immune to a future vulnerability that arises in Bitcoin based cryptocurrencies. Alternatively, it also means that NXT's code hasn't been stress tested to the degree that Bitcoin's code has.

NXT's code wasn't even made open source until March 1st, 2014.

Last but not least, according to the supporters of NXT, the underlying technology can be used to create a decentralized exchange where you can trade any type of asset, including other cryptocurrencies.

Main Website: http://www.nxtcommunity.org/

Source: https://bitbucket.org/JeanLucPicard/nxt/commits

Block Explorer: http://mynxt.info/blockexplorer/index.php

Confirmation time: Instant (Bitcoin is 10 minutes) Note: NXT doesn't doconfirmations in the same way as Bitcoin based cryptocurrencies

Total Currency Units: 999,997,000 NXT (Bitcoin will have 21 million units)

Deflationary