What is NXT? – Blockchain or Token: What is it?


This episode of Blockchain Token – Which is it? covers NXT! In this series, we will cover the different types of blockchain platforms and cryptocurrencies on the market right now. We’ll give you a quick description of each blockchain/token, its function, who is their competition and where you can learn more.

Nxt is an open source blockchain platform. Using the Bitcoin blockchain as their main inspiration, they have labeled themselves “blockchain 2.0”. They have identified some problems with Bitcoin’s blockchain, and have created a platform in response. Blockchain technology was primarily used to track the transaction and creation of cryptocurrencies. But, the creators of Nxt saw the potential to use blockchain technology for something much more by adding multiple core-level features.

The NXT blockchain is not just limited to the NXT token. The platform allows you to create your own asset based on the NXT chain. NXT uses an open API that encourages developers to work off of their platform and build new chains off of the main platform. This flexibility allows tokens to be developed off of the main chain, and actually be their own blockchain stemming from NXT, known as child chains. One of the fist and most popular assets on NXT is Ardor, which we covered previously on this series, check below for the link!

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Ardor Video: https://www.youtube.com/edit?o=U&video_id=iPA7f1iJzf0

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