With the upcoming release of Nxt software version 1.5 – which will include voting functionality, ability to use enhanced multisig account control, and improved data storage and transfer capabilities – Nxt has reached a new milestone as the next generation blockchain platform.
From its inception in late 2013 Nxt has been designed to be a multipurpose toolkit, to be used either directly from the NRS client software or to be incorporated into third party applications.
With account authorisation via the issue of secure tokens, enhanced data transfer and storage (with the ability to remove data when required), voting, multisignature transactions and much, much more, Nxt has now developed into a mature and complete next generation blockchain system for business use.
Nxt is designed and built to be a modular system. It features several different transaction types, which can be used on their own or in combination. The current feature set, after the version 1.5 implementation of Voting and Phasing (enhanced multisig/account control) will include:
- Send Transactions (sending the NXT currency or tokens to accounts
- Data Transactions (send and store up to 40 kb of data)
- Coloured Coins Transactions (create and trade Asset tokens)
- Alias Creation Transactions (enabling the assignment of strings, such as a DNS entry, to Nxt accounts)
- Sales Transactions (create and manage digital sales via a native marketplace)
- Signature Transactions (provide proof of account via single-use token authentication)
- Voting Transactions (fully customised polling system based on the Nxt blockchain)
- Multisig Transactions
- Custom Currencies Transactions (create customisable currencies on top of the Nxt blockchain)
The perfect tool for DAOs
Nxt is the perfect tool for the creation of Decentralised Autonomous Organisations (DAOs). A business or developer can issue their own tokens representing their organisational structure, handle a transaction stream, and keep their finance records in a fully transparent and auditable manner on the blockchain. Building new tools to enhance the core Nxt functionality for a business’s own requirements is always possible, and the Nxt developer community will be happy to provide support for custom solutions where required.
There is no absolute need to use the provided Nxt client software (the NRS client) if users do not want to, since Nxt can be utilised directly from within other applications by using the Nxt API, which currently has around 150 function calls. Full documentation for Nxt API can be found on the Nxt Wiki.
Examples of projects that have been or are being built with Nxt include MyNxt.info, a browser wallet that supports plugins; DeBuNe, a company building business tools with Nxt; and Pangea Poker, a fully decentralised poker application.
Nxt Foundation and PayExpo
Last month, the Nxt Foundation was incorporated as a portal organisation to act as a point of contact for the Nxt community and anyone interested in the possibilities offered by Nxt – either from the cryptocurrency world or from the wider mainstream business community. The Nxt Foundation can also connect anyone with project ideas involving Nxt, such as entrepreneurs and business owners, with developers who can support or implement ideas and projects.
The people within the Nxt Foundation have a background in sales, marketing and software development, and are happy to help people explore the possibilities of using Nxt.
The NXT Foundation will be the official Cryptocurrency Sponsor of the upcoming PayExpo event, to be held in London on the 9th and 10th June 2015.
Anyone is welcome to contact the Nxt Foundation at email@example.com should they have any questions or require any assistance with Nxt, or a project involving Nxt.
NXT in Space!
Nxt is also a sponsor of the Low Orbit Helium Assisted Navigator (LOHAN) project: a private UK-based initiative to launch an autonomous 3d-printed drone to the edge of space. This mission will carry a copy of the Nxt client software on its flight control computer, taking Nxt to new heights.
For more information please go to: www.nxt.org
Name: Bas Wisselink, Nxt Foundation Director
Phone: +31 (0)6 13937762