Nano and Nexty: are these the real and practical cash alternatives? Let’s find out!
Blockchain is no longer modern geek talk! Bitcoin revolutionized the way many of us viewed currencies, ledgers, fund transfers, and transactions. The beauty of all virtual currencies is that almost every one of them tries to address a problem. And this is where our currency of interest, Nexty, comes into action. During the writing, the similarity of the Nexty platform with Nano – XRB will be compared to gain a better understanding of this platform.
In very simple terms, the Nexty platform is presented as a transaction system that will eliminate the concept of transaction fee while ensuring ultra-fast transfers to facilitate its users. Apart from this, the transfers are lightning fast because the transactions do not require confirmation from miners like other virtual currencies like Bitcoin etc.
However, according to the white paper published by the creators of Nexty, the main use of Nexty is intended for newly established e-commerce companies to help generate public funds. Since there is no transaction, lightning-fast transfer (2 seconds! And that’s practically real-time), and confirmation fee, fundraising will be less of a hassle. The coin surgically targets e-commerce stores because that will cultivate an ecosystem where these stores will accept NTY coins from shoppers.
The concept behind NTY is to make everyday online transactions a seamless experience. The team behind NTY is made up of both Blockchain developers and established vendors. Some of the team members have 10-12 years of full development and marketing experience.
Some of you might argue that Nano, formerly known as Railblocks, XRB, is already performing the same functions as NTY. The XRB coin is a bit unique in that it uses its proprietary block lattice data structures. Because of this, each Nano account has its own blockchain which reduces latency for fast transfers. Other than this, the XRB is efficient in terms of power and resources and does not require a high-end GPU system for transaction execution. However, Nano does not come with a smart contract capability. Smart contracts are meant to trade triggers for any crypto currency. These contracts help to exchange funds, real estate, stocks, or any tangible or intangible entity of financial value. Smart contracts also eliminate the need for brokers while bringing our crypto to asset exchange seamlessly. Other than this one difference, NTV and XRB (Nano) are more or less identical. Another important capability of the Nexty platform is its integration within existing e-commerce applications, such as Joomla. According to the NTY developers, the integration takes 3-4 hours at most.
In order to achieve a balance between the supply and demand of the NTY, the platform comes with a built-in smart participation program. This program offers bonuses and credits on the purchase, sale and holding of Nexty. The system is intended for investors and daily users at the same time.
The capabilities of the Nexty and Nano platforms are enormous. Imagine a world where cryptocurrencies replace conventional wallets and transactions are fast! For example, if a merchant accepts BitCoin, he may not deliver the goods and services to you before multiple minors confirm the transaction. And now re-imagine paying for goods and services via a currency that transfers quickly with no transaction fees, regardless of any minor verification!