Nexty (NTY) Blockchain Ecommerce Cryptocurrency Payment Platform Launches
Nexty, Another Platform Aiming To Be The New Ethereum
Bitcoin was created in 2009 and almost 10 years after it is still struggling to be a currency. While its potential is well known and Bitcoin is certainly respected for its innovation, it is not a great secret that many cryptos are still facing heavy difficulties over deciding what is the best course to actually be able to become real currencies.
The most popular token in the market has fees that can go as high as $28 USD per transactions while even Ethereum, which is cheaper, has transactions that can cost $5.50 USD recently after the network has become increasingly clogged and congested.
Nexty, a new blockchain platform, intends to solve these problems to become relevant in this congested market. This new company believes that the solution for this and many other problems that are currently being faced by the crypto market is not charging fees for the transactions.
That’s right, Nexty’s objective is to become a network that can be fully operational without charging its clients any fees and making the transactions faster than Bitcoin and Ethereum. In a couple of seconds, transactions can easily be made by using Nexty.
How Does Nexty Work?
This platform manages to get all these exclusive advantages by having a unique consensus algorithm that is used as the way to validate the transactions that are made on the network, the Proof of Foundation protocol.
Generally, miners are rewarded for their work of verifying the transactions that are made on the blockchain as well as for sealing blocks. However, miners can use their importance and power to clog the network, so there is a spike in the transactions fees that are paid.
Nexty has devised an intelligent solution for this problem that is able to prevent the network from being affected for people doing this and able to keep the network always free and operational.
Nexty Intends To Keep Its Price Stable
One of the main problems that Bitcoin has faced recently is the loss in its price, which amounts to over 60 percent in only half a year. Other cryptos followed. This creates a big problem for both the merchants accepting the tokens and the startups which had set up ICOs and gained a lot less money than they first intended to.
The company uses a new feature called Smart Staking to automatically regulate the supply and demand for the tokens to keep a stable price. This is made to incentivize the users to sell, buy or hold tokens and keep a stable price. Over 5.4 million NTY tokens will be used for this purpose.
When the pool of tokens is finally depleted, the company is already planning on introducing a new feature, the Smart Holding, which will reward holders with tokens. The program will be offered for the investors who hold over 1,000,000 NTY tokens in a single wallet.
The tokens can currently be purchased on the IDAX exchange and the company has already been developing a mobile version of its wallet for both Android and iOS users. It also intends to introduce a pool with e-commerce integration and an official mining pool features.
Will Nexty Be The Next Ethereum or Bitcoin?
Our team would not bet on Nexty as the next big token, although it might be somewhat successful. While the company nails the discourse and it really understands some of the problems that are very harmful to the token industry, it has one major problem: it does not explain how it will profit.
If it really does not charge for the transactions and it will use money to control the price of the tokens, how will the company ever profit? This is the main reason why it is hard to believe that not fees will be ever charged and that the network will remain as it is today.