What is Nxt?
Nxt is considered a second-generation crypto currency. With all the altcoins coming out that only change things such as hashing mechanism, time between blocks, starting difficulty, and so on, Nxt brings much much more to the table and was designed this way for a number of reasons:Release date: November 30th, 2013
- Nxt is a brain wallet, a very long and secure passphrase MUST be used to generate your account.
- As stated, to forge (AKA mine) for transaction fees, your client must be running and unlocked on your machine.
- The software is currently java based, and closed source. Pieces of the code are available for review upon permission of the devs, but the full code will not be released until Jan2014 official launch.
- Many people refer to this as 100% pre-mined, but this isn’t really accurate since there *is* no mining, and the PoS system depends on all coins being distributed out.