Nano and Nexty: Are These Cash Alternatives Real and Practical? Let’s find out!
Blockchain isn’t the talk of a hip geek anymore! Bitcoin revolutionized the way many of us saw currencies, ledgers, money transfers, and transactions. The beauty of all virtual currencies is that almost every one of them attempts to address an issue. And this is where the currency of our interest – Nexty – comes into play. As I write, the similarity of Nexty will be compared to Nano – XRB to gain a better understanding of this platform.
In very simple terms, the Nexty platform is designed as a transaction system that will eliminate the concept of transaction fees while ensuring ultra-fast transfers to facilitate its users. Apart from this, the transfers are very fast as the transactions do not require miners to make a confirmation as in the case of other virtual currencies like Bitcoin etc.
However, according to the Nexty White Paper, the primary use of Nexty is for newly established e-commerce companies to help generate public funding. Since there is no transaction, very fast transfer (2 seconds! That’s largely in real time) and confirmation fees, fundraising will become less and less difficult. The coin is surgically targeting e-commerce stores as this will create an ecosystem where these stores accept NTY coins from shoppers.
The concept behind NTY is to make daily online deals a seamless experience. The team behind NTY consists of blockchain developers and well-known marketers. Some of the team members have 10-12 years experience developing and marketing full stack.
Some of you might argue that the Nano – formerly known as Railblocks, XRB – actually performs the same functions as NTY. XRB tokens is a bit unique because it uses its proprietary block-lattice data structures. As a result, each account owns its own Nano blockchain which reduces latency for fast transfers. Apart from this, XRB is energy and resource efficient and does not require a high-end GPU system to execute transactions. However, the Nano does not come with smart contract capability. Smart contracts are intended to exchange triggers for any cryptocurrency. These contracts assist in the exchange of money, real estate, stocks, or any tangible or intangible entity with a monetary value. Smart contracts also eliminate the need for middlemen while carrying our crypto to flawlessly exchange assets. Aside from this difference, NTV and XRB (Nano) are more or less identical. The other major capability of Nexty is its integration with existing e-commerce applications such as Joomla. According to NTY developers, integration takes 3-4 hours maximum.
In order to balance NTY supply and demand, the platform comes with built-in smart staking software. This program offers rewards and credits on buying, selling and holding Nexty. The system is intended for investors and everyday users at the same time.
The capacity of Nexty and Nano platforms is enormous. Just imagine a world in which cryptography replaces traditional wallets and transactions are fast! For example, if the owner of a BitCoin store accepts, he may not deliver the goods and services to you before the transaction is confirmed by a number of minors. Now reimagine paying for goods and services in a rapidly converting currency with no transaction fees independent of any simple verifications!