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Current features of Nxt include:
- A true descendant of Bitcoin
- Unlike other cryptocurrencies, Nxt was written from scratch and is based on all-new code. Nxt improves upon many of the features of Bitcoin, removes some disadvantages (e.g. bloated blockchain) and resolves a big environmental issue. Time between blocks is one minute. This increases the rate of orphaned blocks but makes it more convenient for the users.
- Limited supply
- 1 billion Nxt coins were generated in the first block, and no new Nxt coins will be created. Coins are not "mined" like they are with other currencies.
- 100% Proof-of-Stake currency
- Nxt is the first 100% Proof-of-Stake (PoS) currency. Coins are earned solely by charging transaction fees. Unlike other currencies with Proof-of-Stake mining, however, Nxt's PoS mining does not cause monetary inflation.
- Nxt will implement a novel "transparent forging" system that will temporarily penalize accounts that do not participate in the proof-of-stake block verification process. This will encourage holders of non-trivial amounts of Nxt to actively participate in the network, instead of merely holding a balance in order to collect transmission fees. More information about this feature can be found in this Bitcointalk thread .
- Brain wallet
- All Nxt account information is stored on the network. Using a secret passphrase, an account can be accessed from any instance of the Nxt software. (This is not very different from Bitcoin; the difference is that there is no automated generation of your passphrase/private key and there is no wallet.dat-like file. A Bitcoin private key still can be bruteforced without access to created wallet.dat file)
- Note: future clients may allow the offline storage of account keys in a wallet.dat-like file. Accounts are secured with a 256-bit key as soon as one outgoing transaction is made from an account.
- Nxt implements an alias system that translates alphaneumeric text into almost anything: Nxt account addresses, email addresses, URLs, phone numbers, SKU codes, and more. This not only gives Nxt the ability to function as a Decentralized DNS system, but adds additional possibilities for mapping short names to other entities.
- Fast transaction processing
- Nxt does not use "scripts" (or predicates), which simplifies and accelerates transaction processing. Advanced features (such as multisig ) will be created on top of the Nxt core as third-party services.
- Blocks are generated once per minute. There is a cap of 255 transactions per block.