Bitcoin has proven that a peer-to-peer electronic cash system can in- deed work and fulfill payments processing without requiring trust or a central mint. However, for an entire electronic economy to be based on a fully decentralized, peer-to-peer solution, it must be able to do the follow- ing: process transactions securely, quickly and efficiently, at the rate of thousands per hour or more; provide incentives for people to participate in securing the network; scale globally with a minimal resource footprint; offer a range of basic transaction types that launch cryptocurrencies past the core feature of a payment system alone; provide an agile architecture that facilitates the addition of new core features, and allows for the cre- ation and deployment of advanced applications; and be able to run on a broad range of devices, including mobile ones. Nxt (pronounced “next”) satisfies all these requirements.
NXT
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