I’d like to announce Nxt
(pronounced as "next"), a cryptocurrency based on Bitcoin paradigm.Nxt
uses brand new software, it’s not a fork of Bitcoin source code. Nxt
improves different features of Bitcoin, removes some disadvantages (e.g. bloated blockchain) and resolves a big environmental issue. I won’t write too many words, let’s jump straight to TL;DR version.
Coins are earned solely by charging transaction fees.
All coins will appear in Nxt
via “transferring” them from the Bitcoin blockchain. Not all bitcoins will be transferred hence the total number of coins is unknown yet.
Time between blocks is one minute. This increases the rate of orphaned blocks but makes it more convenient for the users.Nxt
doesn’t use so-called “scripts” aka predicates. This simplifies and accelerates transaction processing. Advanced features like multisig will be created on top of the core as 3rd party services.
Mining is 100% proof-of-stake, Greenpeace will be happy.
At the present moment development of the software is not completed. While I’m working on it we should start the transfer process to decide who and how much coins will get. This will be done by sending a small
amount of BTC to my own address. I bet most of you have just thought “I got the catch!” Hold on, I don’t ask you to send thousand USD worth coins, a few satoshis is enough. A special message must be attached to the transaction.
This should be done via blockchain.info
which supports such the feature. The message must contain only SHA256 hash, that will be used to claim coins. All these coins will be put into the genesis block that I’ll publish before the launch. Anyone will be able to make sure that the 0th block contains only legit coins and there is no premine.
So, if you want to get coins do the following:
1. Choose a secret phrase
2. Calculate SHA256 hash of this phrase (an online calculator
can be used)
3. Calculate SHA256 hash of the hash you got on the previous step
4. Send any amount to 1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a
, don’t forget to attach a message with the hash you got on the 3rd step. (The amount is capped at 1 BTC!)
That’s it. When Nxt
is launched you will get part of new coins and your stake will be proportional to the amount you sent.
I work hard to launch Nxt
as soon as possible. I will complete all necessary things, but some extra work should be done. I’m thinking about developing a web interface and some other cool things. Feel free to support the development by sending donations to 125EJ3HYXNZ8swr2UBcvKNBV2voAYACFu9.
P.S. I’m a veteran member of this forum. I have to use this brand new account to remain anonymous but later I may reveal my identity.
P.P.S. You can not transfer BTC to NXT after the genesis block is generated and approved by the community.
I got some offers, on the launch or shortly after it we will have the following services:
. It will be funded by our donations
2] Currency exchange
. Classical BTC-to-NXT-n-back exchange
3] Stock exchange
. If I got it correctly this is going to be a simplified (for non-pro traders) version of a stock exchange, can be used for crowdfunding
4] Virtual goods store
. The goods will be provided by ordinary users (books, links, game codes, anything represented as plain text)
The interface is still in development but can be tested on http://126.96.36.199:7875
Follow me on Twitter @BCNext. All important information will be tweeted.
Twitter suspended my account.