Nexty is a blockchain that wants to surpass banking and other online currencies. Banking can be too slow. Not only that but banks have transaction fees and aren’t very secure.
Although other cryptocurrencies are faster than banks, they have obnoxiously high fees. Currently, most of them aren’t actually that fast at all because the number of users is incredibly high.
With Nexty you can transfer money easily. You can have a renting contract between you and your landlord through them. To confirm the contract, Nexty just needs to scan a QR code on the landlord’s phone. Dealing with international transfers are much easier and faster through Nexty if you work with an LC that partners with them. Ecobank is one of those partners and can approve a business for loans quickly. You can even have a MasterCard through Nexty, for regular online and in person payment transactions.
Nexty wants to be the go-to currency platform, with low transaction times, as well as low transfer costs. The Nexty platform believes their Duo Cryptocurrency Confirmation System (DCCS) can do accomplish that. With the only delay, users would experience will be caused by an internet connection.
The DCCS uses two kinds of Cryptocurrency. The first is NTY, used for daily transactions. The second is NTF, is for the transaction confirmation system. Instead of charging per transaction, people who have NTF will gain some cryptocurrency at a small rate at the end of a sealing round (which are about 30 minutes to 360 minutes long).
NTF holders can be voted down by community members if they have found that the holders are misbehaving (ex: cheating, hand-shaking, being malicious). Only the NTF holders are block-sealers for Nexty blockchains.
Nexty is the only platform that uses the Proof of Foundation (POF) as their consensus algorithm. The average block time for Nexty is 2 seconds, with only EOS matching that speed. At this point, it has 1800 transactions per second, Eos (3000), and NEM (4000) have more transactions. However, Bitcoin, Ethereum, Cardano, and NEO all have much slower transaction times.
Nexty, EOS, and NEO have no transaction fees, whereas cryptocurrencies like Bitcoin ($1.70), Ethereum ($0.19), Cardano ($0.15), and NEM ($0.05) all have transaction fees. Most cryptocurrencies being compared with Nexty have some kind of Smart Contract, except for Bitcoin and NEM. Only Ethereum and Nexty have an existing Ethereum swap.
Nexty is only partially open source at the moment. However, in August it will join Bitcoin, Ethereum, Cardano, and NEO in being a totally open source platform. Nexty has the lowest exchange price right now at 0.0001. To compare, Bitcoin’s is 9000, Ethereum’s is 700, and the only one that comes close to Nexty’s is Cardano at 0.368.
The amount of circulating supply for Nexty is 180,000 million. Bitcoin’s is 17,012,987. Ethereum’s 99,204,588. EOS is 832,902,830. Cardano has 25,927 million. Neo’s is 65,000,000. Finally, NEM has about 90,000 million. Nexty has a medium market cap at $18 million. Bitcoin’s is $153,116 million, and Ethereum’s cap is $69,443 million. The lowest being NEM at $3,690 million. Nexty is the blockchain that exchanges on Idax, the other six use Binance.
Telegram: https://t.me/nexty.io
Website: https://nexty.io