From Nxt Wiki
This page is a Current Features and the translation is 58% complete.of the page
- Asset Exchange
- To exchange cryptocurrencies and other digital assets until now, you had to sign up for an account on a centralized platform such as Cryptsy/BTC-E/Bter/etc, transfer your assets to them and then pay them transaction fees. This brings in a large concern: a centralized exchange could just bail with everyone's deposits. Nxt has developed a peer-to-peer exchange into the software to allow for decentralized trading which eliminates this trust point. It also eliminates trading fees.
- The same technology that allows you to trade NXT for many other digital assets can allow you to trade NXT for almost any commodity.
- This feature is based on the "colored coins" concept. Since the blockchain provides a trustworthy record of transactions, it can be leveraged to provide a record of trade of items other than NXT. To do this, Nxt allows the designation or "coloring" of a particular coin, which builds a bridge from the virtual crypto-currency world to the physical world. The "colored coin" can represent property, stocks/bonds, commodites, or even concepts. As a result, the Nxt network could be used to trade almost anything.
- A protocol for decentralized, peer-to-peer stores for any kind of digital goods.
- Monetary System
- Issue customizable currencies secured by the Nxt network.
- Voting System
- The secure, encrypted, consensus-based nature of the Nxt network allows the implementation of a voting system that guarantees anonymity and security, without relying on a central authority to tally votes.
- Allows transactions with deferred execution, with or without conditions. For example "I will give you 100 Nxt now, and another 100 once your project is finished."
- Account Leasing
- Account Leasing allows a user to lease its forging power to another account for a fixed period of time, without having to send coins anywhere. This allows for the creation of secure forging pools.
- Arbitrary Messages
- Implemented at a block height of 40,000 blocks, this feature allows Nxt users to send small amounts of data through the decentralized network. Since version 1.2.0, these data can be encrypted. The term "message" is loose: this feature can be used to send simple text messages, but can also be used to send up to 1000 bytes of any data. As a result, it can be used to build file-sharing services, decentralized applications, and higher-level Nxt services.