Properly implemented decentralized networks offer the ability communicate and transact securely with anyone anywhere. This capability allows users of properly implemented decentralized networks to move value and information in the most efficient possible method. This is important because everyone deserves access to information. Access to information is a basic human right.
With rights come responsibilities. Prior to the casting of the Genesis Block of the Nxt cryptocurrency ecosystem, the answers to how to uphold the responsibility of providing access to information to all members of the human race had not been known. The information revolution has followed the same patterns of the industrial revolution: concentration of power, centralization and hierarchical leadership. The primary focus on development of technology has been corporate profit, not providing information access to everyone.
Nxt breaks the old profit driven centralized network model with its innovative Proof of Stake cryptocurrency NXT which provides the foundation of the sustainable Nxt ecosystem. The development follows open source protocols allowing review and competition. The leadership of the Nxt ecosystem functions at the edges of the network, driving innovation. As an example of this innovation, the NXT Asset exchange has made the first Dogecoin deposits and withdrawals (accurate to milliDoge!) from an Nxt Asset Exchange Gateway. This capability is developing rapidly to allow nearly instant and anonymous transactions of any asset class between any person.
Money is a form of freedom of speech. By choosing to invest in a certain candidate or company, a person is expressing their opinion. By choosing to invest in Nxt, a person is expressing their opinions. These opinions are developing into community based ideals as consensus is reached within the Nxt community. This consensus is important as it allows for voluntary governance.
Even before the native voting feature of the Nxt ecosystem is fully developed, voting is occurring in the Nxt community to establish 5 and 7 member committees administering Marketing Funds, TechDev Funds, and Infrastructure Funds. Proper adequate internal controls are established within the Nxt ecosystem by guaranteed transparency in voting, finances, and software development. These funds are managed through a process of Improvement Proposals which are reviewed and Bounties fulfilled for verified completed Improvements to the Nxt ecosystem. The great care taken by the Nxt ecosystem to ensure a holistic approach to implementation of financial cryptography gives major stakeholders easy points of entry to the ecosystem.
The Nxt ecosystem utilizes disciplines of Cryptography, Software Engineering, Rights, Accounting, Governance, Value and Finances to deliver an open source ecosystem with several unique features. Nxt Transparent Forging (TF) eliminates the “selfish-mining” that endangers the Bitcoin blockchain and all its clones to a 51% attack. Nxt Asset Exchange (AE) allows value to flow from other unsustainable blockchains and transaction methods into the Nxt ecosystem, as well as enabling crowdfunding kickstarters and micro- transactions. Nxt Arbitrary Messages (AM) allows data APIs to be called and custom applications designed. Two more unique core Nxt features currently under development are the Voting System (VS), which will enable publicly-verifiable democratic voting and the Automated Transactions (AT) which will enable smart contracts and robotics applications not even envisioned yet.
The advanced applications that can be built on the core Nxt ecosystem are limited only by imagination. Thirty years ago, no person would have ever imagined that nearly every person on the planet would be communicating with handheld wireless devices. Today this is a reality as the cost of smart phones is within reach of most of the global population. Growth in handheld wireless communication and transactions is exploding, presenting an opportunity for the most efficient and secure networks to succeed. Nxt is the most efficient and secure transaction network available and is secured by the innovative Proof of Stake mechanism, which utilizes minimal energy.
Many altruistic motives are at play within the development of the Nxt ecosystem. The goals of making the most efficient, most secure possible transaction network have replaced the legacy banking goals of making as much money as possible. Distributed Autonomous Corporations (DACs) will be built on top of the Nxt blockchain for profit and non-profit, leveraging the competitive advantage of operating on the most efficient secure transaction layer available. This efficiency combined with transparency drives the innovation and development of the Nxt ecosystem. As an example, the Nxt Mobile Applications Company (NMAP, The first Nxt DAC) just successfully closed its first stage of IPO early after overwhelming investor demand.
This is a direct invitation to academic researchers, cryptographers, mathematicians, software engineers, accountants and other curious professionals to examine the Nxt cryptocurrency platform for the unimagined possibilities it presents. The Nxt cryptocurrency ecosystem can bring banking and smart contracts to the unbanked at the lowest possible cost and the highest possible security, freeing billions of Dollars/Euros of dead capital resulting from improper or unavailable rights registration. Robots may one day interact with the world through the transmission of Nxt Arbitrary Messages and execution of Nxt Automated Transactions. What can you imagine doing with Nxt? Nxt invites all people to participate in the revolution.
Please contact us at: firstname.lastname@example.org
To learn more: http://nxtcrypto.org / http://mynxt.org
To start with Nxt: Online wallet: https://wallet.mynxt.info Clients: http://www.nxtclient.org/
To trade NXT: http://cryptsy.com / http://bter.com / http://vircurex.com / http://poloniex.com / http://dgex.com
NXT thread on Bitcointalk: http://bitcointalk.org/index.php?topic=345619.0
NXT Source Code: http://bitbucket.org/JeanLucPicard/nxt-public/src
NXT Whitepaper: http://wiki.nxtcrypto.org/wiki/Whitepaper:Nxt
Author: Brian Snyder