Try the silky smooth Nxt Asset Exchange today!

The Nxt Asset Exchange development and testing is accelerating. Nxt developer Come-from-Beyond has pushed important code to the Nxt core (awaiting production Nxt AE deployment by developer Jean-Luc). This new code adds support for GUIDs which are explained by Come-from-Beyond in BCT Nxt “Pub” Post #44127, “exchanges will be able to use guids to track transactions without worrying about transaction malleability.” In other words, Nxt has solved the dreaded transaction malleability problem that has plagued the Bitcoin protocol for years. Time will tell whether Mt. Gox has gone bankrupt due to transaction malleability, theft, or a lack of internal control (or some combination of those factors). The Nxtcoin Asset Exchange System ensures participants will never fall victim to the “transaction malleability” security hole. Nxt developers have closed that security hole forever.

 

The Nxt Asset Exchange supports registration of an Aliases inside the Asset Exchange that allow for Nxt accounts the link of Nxt accounts to real world information such an URL. On March 11 during testing of the Nxt Asset Exchange at http://nxtra.org/nxt-client/ I have bought and sold assets on the smooth as silk AE. With one minute confirmation times and a fantastic user interface, the Nxt Asset Exchange offers the very best of the features that the cryptocurrency world has to offer. As I used the Add Contact feature to add the Nxt account number of an Asset Issuer, the Alias registered by that Nxt account owner automatically showed the Issuer Name. The Issuer Name of the first contact I added is The David Sheldrick Wildlife Trust. Upon looking up The David Sheldrick Wildlife Trust in a search engine, I found https://www.sheldrickwildlifetrust.org/.

 

The Nxt cryptocurrency ecosystem offers a transparent trading system that allows real world context to be applied to the cryptocurrency ecosystem. You can test out the Asset Exchange operating on the Nxt testnet, and experience the future of asset trading. The Nxt Asset Exchange is operating on Nxt testnet currently, and all the testers and developers are working hard to complete the system prior to rollout on the Nxt mainnet. You will create your Test Nxt account (with a different passphrase than your NXT passphrase if you already own NXT) at http://nxtra.org/nxt-client/. Then request Test Nxt from briansnyder@mynxt.org and/or Nxt community members at the BCT Nxt “Pub Thread”.

 

The Nxt Asset Exchange offers features found in no other second generation cryptocurrency ecosystem. There is currently a functioning automatic multi-signature cryptocurrency gateway running on the Nxt Asset Exchange. Asset transfer between Nxt accounts is enabled. Aliases can be associated with Nxt accounts. Assets can be issued and traded with one minute confirmation times. Nxt Asset Exchange is a truly revolutionary trading platform.

 

Another cryptocurrency asset exchange platform currently under active development is Mastercoin. Due to the decision of the Mastercoin developers to operate within the already bloated Bitcoin blockchain, Mastercoin has been forced to attempt a patchwork implementation of ineffective security procedures. These ineffective security measures include manually checking withdrawals and delaying confirmation of transactions in an attempt to fight rollbacks of Mastercoin transactions by the Bitcoin network. These stopgap security measures are akin to placing a “Band-Aid” on a sliced open carotid artery and still do not address the underlying risks and disadvantages of the Bitcoin protocol itself namely the transaction malleability issue and the wasteful use of energy to secure the Bitcoin/Mastercoin blockchain.

 

The choice is simple. Contribute to a better world by choosing the Nxt Asset Exchange. Start learning today how the Nxt Asset Exchange can make your life better through efficient use of blockchain technology.

 

References

Come-from-Beyond. (2014). Re: GUID vs. TXID Post #44127 Retrieved 3/12/2014 from https://bitcointalk.org/index.php?topic=345619.msg5611882#msg5611882

Mastercoin devs. (2014). Re: masterxchange FAQ Retrieved from 3/12/2014 from https://masterxchange.com/faq.php

Menger, D. (2013). Mastercoin is a Nightmare of Insanity. Retrieved 3/12/2014 from http://themisescircle.org/blog/2013/12/20/mastercoin-is-a-nightmare-of-insanity/

About Brian Snyder (15 Articles)
Brian is an entrepreneur and a long term diversified investor, always holding assets with low to zero counter-party risk. He holds a B.A. in Business Administration with a Major in Management from Washington State University. Brian has 15 years of experience in information technology, always exploring the leading edges of technology. His current areas of focus are decentralized peer to peer networks, applications and currencies built on top of the Nxt green network.

Leave a comment