Nano and Nexty: Are These Real and Practical Cash Alternatives? Let’s find out!
Blockchain is no longer a modern geek talk! Bitcoin revolutionized the way many of us saw currencies, ledgers, fund transfers and transactions. The beauty of all virtual currencies is that almost every one of them tries to solve a problem. And this is where our currency of interest, Nexty, comes into play. During the writing, the similarity of the Nexty platform with Nano – XRB will be compared to get 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 that, transfers are ultra fast because transactions do not require miners to make a confirmation as in the case of other virtual currencies like Bitcoin and so on.
However, according to the white paper published by the creators of Nexty, the main use of Nexty is intended for start-up e-commerce companies to help generate public funding. Because there are no transactions, ultra-fast transfer (2 seconds! And that’s pretty much real-time) and commission confirmation, fundraising will be less complicated. The currency is surgically targeted at e-commerce stores because this will cultivate an ecosystem where these stores will accept NTY coins from shoppers.
The concept behind NTY makes daily online operations a fluid experience. The team behind NTY is made up of Blockchain developers and established vendors. Some of the team members have ten to 12 years of experience in full stack development and marketing.
Some of you might argue that Nano, formerly known as Railblocks, XRB, already does the same functions as NTY. The XRB currency is a bit unique because it uses its patented block lattice data structures. That’s why each Nano account has its own blockchain that reduces latency for a fast transfer. Other than that, the XRB is efficient in power and resources and does not need a high-end GPU system for executing transactions. However, Nano does not include a smart contract capability. Smart contracts are meant to exchange activators for any crypto currency. These contracts help to exchange funds, real estate, shares or any tangible or intangible entity of financial value. Smart contracts also eliminate the need for brokers as they lead our cryptography to seamless asset exchange. Apart from this difference, NTV and XRB (Nano) are more or less identical. Another important capability of the Nexty platform is its integration with existing e-commerce applications such as Joomla. According to NTY developers, the integration takes a maximum of 3 to 4 hours.
In order to strike a balance between NTY demand and supply, the platform includes an integrated smart staking program. This program offers bonuses and credits for buying, selling and owning Nexty. The system is designed for investors and everyday users at the same time.
The capacity of the Nexty and Nano platforms is huge. Imagine a world where cryptography replaces conventional wallets and transactions are fast! For example, if a merchant accepts BitCoin, they may not transfer the goods and service to you until the transaction is confirmed by a number of minors. And now re-imagine the payment for goods and services using a currency that is quickly transferred with zero transaction fees independent of any minor verification.