What is NXT and how does it work?

NXT is a second generation decentralized cryptocurrency, among the community it has been called the "Linux of the Cryptocurrency". Since the very beginning, the NXT foundation has been committed to transparency and decentralization of the financial system, as its creators say, this cryptocurrency does not aim to replace Bitcoin, it is considered its logical evolution.

Its source code is totally new, so it cannot be considered an altcoin. Apart from its usual function as currency and the speculative trading, the NXT has more advantages integrating voting and chat systems and decentralized DNS support.

NXT is minable, it uses the Proof of Work algorithm. So just like in the case of Bitcoin - doing calculations and work tests, we can get more NXT.

If you want to know in which Wallet to store your NXT we recommend you take a look at this article where we recommend the most recognized Wallets of this cryptocurrency.