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Current features of Nxt include:

  • A true descendant of Bitcoin
    • Unlike other cryptocurrencies, Nxt was written from scratch and is based on all-new code.  Nxt improves upon many of the features of Bitcoin, removes some disadvantages (e.g. bloated blockchain) and resolves a big environmental issue.  Time between blocks is one minute.  This increases the rate of orphaned blocks but makes it more convenient for the users.
  • Limited supply
    • 1 billion Nxt coins were generated in the first block, and no new Nxt coins will be created.  Coins are not "mined" like they are with other currencies.
  • 100% Proof-of-Stake currency
    • Nxt is the first 100% Proof-of-Stake (PoS) currency.  Coins are earned solely by charging transaction fees.  Unlike other currencies with Proof-of-Stake mining, however, Nxt's PoS mining does not cause monetary inflation.
  • Transparent mining
    • Nxt will implement a novel "transparent mining" system that will temporarily penalize accounts that do not participate in the proof-of-stake block verification process.  This will encourage holders of non-trivial amounts of Nxt to actively participate in the network, instead of merely holding a balance in order to collect transmission fees.  More information about this feature can be found in this Bitcointalk thread .
  • Brain wallet
    • All Nxt account information is stored on the network.  Using a secret passphrase, an account can be accessed from any instance of the Nxt software.
  • Alias System
    • Nxt implements an alias system that translates alphaneumeric text into almost anything: Nxt account addresses, email addresses, URLs, phone numbers, SKU codes, and more. This not only gives Nxt the ability to function as a Decentralized DNS system, but adds additional possibilities for mapping short names to other entities.
  • Fast transaction processing
    • Nxt does not use "scripts" (or predicates), which simplifies and accelerates transaction processing.  Advanced features (such as multisig ) will be created on top of the Nxt core as third-party services.
  • Blocks are generated once per minute.

Next: Learn about Nxt's planned features – or jump to our getting started page!

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