Nxt is an open source cryptocurrency and payment network launched in November 2013 by anonymous software developer BCNext. It is coded from scratch in Java, It uses proof-of-stake to reach consensus for transactions unlike Bitcoin, which uses a Proof-of-Work (PoW) algorithm to reach consensus, which means that Nxt does not require mining as there is static money supply. It's 100% Proof of Stake, meaning that the more NXT you have the higher chances you have of processing the next block. Because it's not dependent on computational power, a full node can run on something as light as a Raspberry Pi. Nxt was specifically conceived as a flexible platform around which to build applications and financial services.
It has an integrated Asset Exchange (comparable to shares), messaging system and marketplace. Users can also create new currencies within the system. The last major release enabled Multisignature capabilities and a plugin-system for the client.
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