Wednesday, April 23, 2014

The first multipool of Proof of Stake cryptocurrency finished beta stage: Bitcoin's future is Nxt

A team of passionate people have been working in last months on what has been referred to as Bitcoin 2.0: Nxt. Nxt is an advancement in the fundamental technology behind Bitcoin and brings with it an entirely new code base as opposed to being a simple fork of the existing code.  Nxt is one of the first implementations of some of the technologies that are considered to be 'second-generation cryptocurrency' such as decentralized messages system, peer to peer exchange, multigateways or distributed asset exchange. Nxt is also able to solve perhaps the biggest shortcoming Bitcoin has through its capability to process transactions virtually instantly. Nxt is simply faster and cheaper than Bitcoin and provides more features than Bitcoin and all its clones together.

Early Adoption?
Investors are flocking to get behind NXT as early as possible. Similar to Bitcoin, those who are able to identify the technical innovation behind the product are likely to be rewarded greatly for their early investment.  The NXT ecosystem (as with features like those named above makes it far more than a simple currency) is still one that can be easily bought into by the average investor without needing the amount of capital required for a sizable investment into the Bitcoin market space.  

Why Nxt?
Nxt was the first pure 'proof of stake' cryptocurrency, which means that all of the coins in the marketplace have existed since the coin began. This is as opposed to the traditional Bitcoin, which uses mining to create new coins.  There actually are other Bitcoin 'clone' coins, which use 'Proof of Stake'. But the problem with Blackcoin, Coin2, Communitycoin, Faircoin, Peercoin, Premine or Whitecoin is in lacking of special features they could provide and in using too slow transaction process. Scarcity may sometimes drive up price, but it does not create demand.  Demand is tied to the utility of that item, as well as how scarce that item is.  And it is not about the number of vendors, who accept their crypto. Look at Earthcoin, it crashed even when tons of shops were accepting it. Blackcoin, for example, has only slightly more utility than Bitcoin (a shorter confirmation time).  And a little group of pump and dumpers, who are willing to mine Blackcoin, but for just one simple reason – to dump it as soon as it gets over 50 thousand Satoshi.

Nxt, however, is at the forefront of a number of breakthrough cryptocurrency technologies and demand for these technologies will be at a premium in the future. You can never be sure, when Blackcoin follows the crash of Auroracoin, Mazacoin, Megacoin, Mintcoin, Pandacoins or Quarkcoin. But the crash will come.

In Nxt, there will be only ups in the future. Big ups. Why? Imagine, when the companies will be kickstarting via Nxt’s asset exchange.  Big companies with millions of customers. And it won’t be only a slight pump like Mastercoin’s Maidsafe-shares. Nxt asset exchange will be the fastest of all other solutions, so basically – the only useful decentralized exchange with multigateway.

Nxt is a brand new, written from the scratch, faster and cheaper than Bitcoin an all its clones!

Acquiring NXT – mining on multipool
The price for a single NXT 'coin' still experiences a great deal of daily volatility, similar to Bitcoin.  In order to help mitigate these daily fluctuations a mining pool has been created to help stabilize and increase the price of NXT.  Operating in limited beta test mode for over 30 days already, Hashrate has succeeded in already paying out to its miners the equivalent of over 15 Bitcoins worth of NXT.  The long term effect of a continual infusion of BTC into the NXT ecosystem every day will result in the value of the coin increasing.  Miners who look at their mining equipment as an investment could hardly find a better choice of mining pool than Hashrate - they will get a higher payout in NXT coins than any other pool would give them in BTC.

For those who are not miners: anyone who has invested on technological speculation should consider including NXT in their investment portfolio. The currently low prices combined with the game-changing technological features that have come out of the NXT ecosystem make it one of the few cryptocurrencies that has a bright future. NXT is available for trade on nearly all of the major cryptocurrency exchanges, like Bter or Cryptsy.

·         More about nxt:
·         Nxt multipool:
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Join Nxt multipool, mine the most promising Proof of Stake coin - Nxt:


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