Current Features

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Current features of Nxt include:

  • 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.

Issue customizable currencies secured by the Nxt network.

This feature provides a protocol for decentralized, peer-to-peer stores for any kind of digital goods.

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.

Phasing allows transactions with deferred execution, with or without conditions. Those can be basis for many use cases.

Nxt implements an alias system that translates alphanumeric 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.

This feature allows Nxt users to send small amounts of data through the decentralized network. 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.

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.

Component which automatically transfers NXT, ASSET or CURRENCY from a funding account to recipient accounts when the amount held by the recipient accounts drops below a set threshold.

Coin Shuffling is a privacy feature which enables users to mix their funds quickly and efficiently with other users' funds by creating a random mapping between the existing user accounts and a new recipient accounts provided by the users.

Nxt allows third-party software developers to add features to the Nxt Client Interface.