What is NXT?

The rise of Bitcoin and its eventual stabilising have led to a torrent of cryptocurrencies. While a new cryptocurrency is being launched almost every other month, a few have been able to make a mark.

Let us quickly look at a few new-age cryptocurrencies which have the potential to rock the boat and become big:

NXT

This is the new kid on the block. While others imitate Blockchain or modify some of its source code, the developers of NXT did the next best thing. They created an absolute independent code based on Java.

Because of its wider scope, NXT is also called Bitcoin 2.0.

Some of the features that NXT packs within are:

Marketplace

One can directly sell goods without getting hassled by middlemen. Also one can price competitively to increase sales.

Asset Exchange

One of the best features of NXT is the exchange of digital assets. They may range from bonds, reservations and even movie tickets. NXT has ensured that a user gets to find all his or her utilities under one roof.

Data Cloud

The old way of storing data on shared drives is passe. Now, one can directly store data on the decentralised NXT data cloud. So all your certificates, wills and other important stuff can go into the NXT cloud at extremely competitive rates.

Messaging

NXT developers hit the road with this feature. While making a transaction one can message too. Since the entire premise is based on the blockchain technology, it is highly encrypted. This will ensure that no one is able to peep into your communication.

With Bitcoin saturating and the Altcoins stagnating it is this kind of a sudden jolt that makes investing in this sector all the more interesting. While NXT is still in the process of improving through its NXT 2.0 Ardor program, it is certain that this kid is here to stay.

One of the biggest competition that NXT would be facing will be from LIBRA, the approved blockchain digital currency.

Libra is being backed Facebook and though nothing exists as of now, it is already looking like a great opportunity.

As a crypto investor one is excited about the rise of cryptocurrencies. However, it should be noted that investment into cryptocurrencies is unlike any conventional methods. One has to be diligent before pouring in money. Also one has to be prepared for the long haul.