The crypto currencies are all meant to make life easier for us. The concept of decentralization, flaw less blockchain ledgers and quick transfers are some unique aspects of the cryptos. It is these unique features of the virtual currencies that have managed to score a large user base comprising of end users, researchers and investors. However, due to limited capacity of the bitcoin network and excruciating delays in transfers with high miner fees, the need for fast transfers with zero fee coins is higher than ever. And this is where the Nexty Coin jumps in.
Nexty Coin or NTY is meant to crack down on higher transfer fee, late transaction confirmations etc. The coin’s core philosophy is to provide a transact-able virtual currency that comes with zero transaction fee combined with ultra fast transaction speed. The broader vision of the NTY coin is to make it a virtual currency of choice by the masses.
The team behind NTY is set to make it the currency of choice by first developing an eco system that runs on the NTY coins. For this reason, the developers of this coin have a short term objective of providing the NTY platform to new ecommerce businesses. With this platform, the upcoming ecommerce businesses will be able to raise public funding. After this, the businesses will start accepting the NTY coins from public in for the goods and services that they sell. So how exactly is the NTY Coin different from a more conventional virtual currency such as BitcoinCash or BCC?
BitcoinCash was result of a hard fork of the BitCoin. The details of this are complex and lengthy. However, the reason for this new virtual currency was making transactions faster for the users. In fact, the main philosophy of the BCC was defined by its promoters as a currency of choice for peer-to-peer transfers. However, apart from supporting a bigger block size and immune to segwit, the behavior and characteristics of the BCC are very similar to BTC.
Comparing the NTY Coin to other cryptos, such as Bitcoin Cash etc, it reveals that the average time taken for transfer of NTY Coin is 2 seconds (almost real time) where as BCC or BitcoinCash takes 60 minutes to do the same. Also, it is pertinent to mention that BCC comes tagged with a minimum transfer fee of $ 0.21 which is dependent on availability of miners.
Another winning factor of the NTY coin is its scalability. The scalability of NTY per transaction is currently one of the highest among the crypto currencies. Whereas, the BCC offers a 2 digit scalability that indicates lags, slow transfers and high latency during any busy day for the crypto market. Another factor that’s being offered by the NTY platform is its easy and ready integration with many ecommerce platforms. The practicality of this feature is based on the fact that any ecommerce store built on a popular CMS such as Joomla, Drupal etc can integrate NTY as a payment gateway and start receiving NTY coin as payments for the products they are selling. Where as a BCC is more of a virtual cash changing hands between the end users and it’s adaptability to become a business payment gateway is very unlikely in the near future.
These are some of the features that differentiate the NTY and old conventional virtual currencies. The cryptos are the future and the world won’t be able to deny them for very long.
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