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Questions tagged [nxt]

Questions about NXT are off topic. Nxt is an electronic cash like Bitcoin but PoS based and written from scratch in Java.

Nxt is a cryptocurrency like many others but:

  • It's open source and it was written in Java.
  • It was not derived directly from Bitcoin source code.
  • It provides built-in support for features such as a decentralized peer-to-peer exchange, voting system, messaging/chat, decentralized DNS, and options for instant transactions.
  • It is 100% proof of stake (PoS), versus the proof of work (PoW) mechanism the vast majority of other coins are based on. Instead of using powerful computers to "mine" new coins, Nxt leverages the balances of existing accounts to "forge" blocks, rewarding forgers with transaction fees. The Proof-of-Stake algorithm is efficient enough to run on smartphones and small devices like the Raspberry Pi platform.
  • 1 billion Nxt coins was distributed to 73 original stakeholders that invested 21 BTC in total.
  • Nxt is implementing a very slick feature called "Transparent Forging", which will allow each user's client to automatically determine which server node will generate the next block. This allows clients to send their transactions directly to that node, minimizing transaction times. Immediate and high-priority transactions can be processed for additional fees.
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Ethereum vs NXT Comparison Chart?

Where can I find a comparison chart between these crypto 2.0 currencies like NXT and ethereum? What are some of the major advantages of each of these coins in relation to one another?
Patoshi パトシ
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Can the coin symbol prefix in a cloned NXT blockchain start with a digit?

Creating a new blockchain with the Nxt Blockchain Creation Kit, is it possible to use a coin symbol prefix beginning with a digit in the wallet address? I get an error that the address is malformed when I try this. Should I look for an error, or is…
CryptoWoman
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Problem of colored-coins/assets and other coins with a parent/child relationship of paying for fees with only the parent currency

I've looked into building out my own coin, but it was best to just piggy back on top of an existing blockchain like how colored coins and counterparty is doing it. But when going on this route, I run into the problem of having to pay the fees of…
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How to make PoS system work?

In a r/bitcoin I've found the following statement: I think it should be noted that this paper covers a "pure" PoS system, but there have been some hacks to PoS systems to make them "work" (work while being insecure). These hacks include having a…
Poliakoff
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What is Ardor and how is it different from NXT 1.x?

Ardor was recently announced as the successor to NXT 1.0 with backwards compatibility to NXT 1.x . How is it different from NXT v1.x?
Patoshi パトシ
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Is it possible to have complete cold storage in NXT?

BTC has capability to create new account on offline computer and send some coins to and from that account without ever going online. Sending coins to that account is trivial. Sending from that account is done by generating transaction on offline…
CoinsKillTheFed
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NXT, Ignis, and Ardor Confusion. Purpose of NXT when there is Ignis / Ardor?

If NXT is switching to Ardor, what is the purpose of holding NXT? There is another snapshot that's happening with NXT for the coin Ignis, but how what's the purpose of Ardor then? So is Ignis the new NXT? Very confused.
Patoshi パトシ
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Can someone explain the pitfalls of NXT Proof of Stake's potential issue of "nothing at stake"?

Many people talk about NXT Proof of Stake (PoS) being insecure due to the "nothing at stake" problem. I read up some posts about nothing at stake, but I still do not understand how it works. Can someone explain how the "nothing at stake" works in…
Patoshi パトシ
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How does NXT prevent blockchain bloat since it does so many different things with its blockchain?

How does NXT prevent blockchain bloat since it has a built in message system and other features? Wouldn't the NXT blockchain grow to be really big in the future and pose a problem for people storing the blockchain as compared to other coins?
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PPC (peercoin) obsoleted by NXT?

PeerCoin has a Proof-of-Stake concept (and a small portion of Proof-of-Work), to secure the network. NXT is using only POS, which makes it even more energy efficient. Will NXT render PPC (PeerCoin) obsolete? Or which disadvantages does NXT have in…
erik
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What are some of the pitfalls of a 100% proof of stake currency (pos) like NXT?

Bitcoin has the vulnerability of a 51% attack for a proof of work currency, but what pitfalls does a 100% proof of stake (pos) currency have like NXTcoin?
Patoshi パトシ
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Are NXT messages stored on the blockchain and are they encrypted or publicly viewable?

Are nxt messages stored on the blockchain? What is the character limit on these messages? And are the messages encrypted or publically viewable? If they are public, is there a site to just view all the messages sent?
Patoshi パトシ
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NXT Private blockchain changing the block generation time

By default the block time for nxt is 60 sec average this is question. This parameter can be changed to a lower time 10 sec for e.g? And if yes what would be the possible impacts (negative and positives) Thank you.
Djalil lounis
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How to setup https ssl letsencrypt for NXT / Ardor public nodes?

I want to run my own public nxt / ardor node, but I also want https (letsencrypt). I have a ubuntu server with apache 2.4 installed already. What are the steps to get this setup?
Patoshi パトシ
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How do I join the NXT 2.0 (Ardor) distribution if it isn't an ICO? And how does it affect NXT 1.0 holders?

Can someone explain to me how to join the NXT 2.0 (Ardor) distribution? I've been reading you can't buy into the coin initially or can you? Also how does this affect NXT 1.0 system? It seems to be one of the first blockchain to implement a…
Patoshi パトシ
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