The technology that is going to have the most impact on our lifestyles in the next decade is Blockchain. Yet there are still challenges to overcome when implementing blockchain solutions. The greatest obstacle, in my opinion, facing cryptocurrencies is getting vendors of all types and sizes to accept them as the payment because online retailing is the most cost-effective way to gradually introduce the use of coins and tokens into daily life so that, later on, mass adoption in daily payment could take place. Apparently, money that cannot be used to purchase stuff at the store is useless to most people. Unfortunately, that is the case now, due to critical reasons:
1. High Volatility
Many online retailers refuse to accept cryptocurrency because of their prices are determined. Cryptocurrency prices are super volatile, meaning the capital one is holding in the form of tokens and coins can fluctuate from day to day and even hour to hour. With such fluctuation, neither any merchants would accept it nor consumers.
2. Long Transfer Time
Another reason is the transfer time. While many top performers in cryptocurrency can not reach Visa’s level of transaction processing time, e-Commerce requires quick purchase making because no business wants their customers to wait, which might lead to cart abandon.
Nexty’s Solution to Market Volatility and Transfer Time
For those who wants to understand Nexty more deeply, check out my previous article.
Nexty plans to ensure stable cryptocurrency payment method for vendors with its Price Stabilization System which is conducted by a group of economics experts. Later on, they develop a decentralized algorithm to operate the Price Stabilization System automatically based on the performance input from that expert group.
Their Smart Staking Program (They have just introduced Smart Staking on DApps asthe first DApps developed by Nexty, check out here) is a financial strategic policy serving as part of that Price Stabilization System. In details, you have to keep a certain amount of NTY in the staking wallet in a determined period of time. Based on your choice of that period, you would receive the according rate of NTY in return after completing.
A User-Friendly Wallet
The majority of the existing cryptocurrency wallets on the market are not user-friendly. Just imagine teaching your parents or uncles or aunts how to create a MEW or a NEON wallet, deposit the coins and pay with that lenthy private key. You just can’t stand, right?
Meanwhile, Nexty is designed to be a user-friendly payment app so that mass audience like your relatives can understand, which is good momentum to become the daily payment medium. Watch this video to attest it:
Moreover, the Nexty team keeps maintaining and continually improving as well as upgrading the wallet to fit in the need of the community, based on their research and the feedback they got from channels like Telegram, Twitter and Facebook.
Zero Transfer Fee
LTC, NEO, XRP, and some others are popular partially because they are cheap in transaction fee. But what Nexty offers is even better, have a look:
See? Zero Transfer Fee. That’s insane. That’s like billion of dollars is saved if it is well-implemented around the world.
Nexty achieve this feature thanks to its Dual Cryptocurrency Confirmation System where 2 currencies co-exist:
- NTY — the major currency, used in every transactions and smart contract.
- NTF — Used for the transaction confirmation system.
No NTY would be charged for transferring, instead, the network miners are rewarded with NTF and if they hold NTF, they would receive NTY at a minimal rate from the total pool of NTY (0.5%/month)
For more information, you can visit their media networks:
Website: https://nexty.io
Telegram: https://t.me/nextyio
Facebook: https://www.facebook.com/nextycoin/
Twitter: https://twitter.com/nextyio
Author: jakerhd223
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