NEXTY – THE ZERO-FEE PLATFORM THAT COULD RESHAPE THE PAYMENT INDUSTRY

We all have been involved in one form of transaction or the other before, from the traditional means of payments done with fiat currencies, to digital means of payment done with master cards and wire transfers, today even bitcoin is used for payment these days, all thanks to the ever thriving technological innovations. From the advent of bitcoin came other crypto currencies supporting payments, the whole idea of using crypto to pay for something is really exciting, but it doesn’t come without some hassles of its own, probably one of the reasons why crypto hasn’t gained mass adoption yet is that most transactions are done with high transaction fees and this scares a lot of people, imagine this scenario, someone loaned you $500 BTC for a period of 3 months, he has given you a deadline to pay and you can’t afford to disappoint him, now the deadline has reached and you have only $500 in your crypto account, now you want to pay him the exact $500 from your crypto account, normally this wouldn’t be possible on the bitcoin blockchain because, you’d have to pay for transaction fees to send out your money, and this would short your money and you can’t send out the exact $500, this might cause some slight friction between the both of you because he might probably feel that you shorted his money on purpose. Now this seems like a tricky situation yeah? Now what if told you that this doesn’t necessarily have to be the case, I came across a platform called Nexty and I can comfortably say that you can perform payments without any incurring fees or transaction charges. I would throw more light into this amazing platform in the subsequent lines of this article.

THE NEXTY PLATFORM IN DETAIL

Nexty is a platform that doesn’t charge for any transaction made on the system, it makes use of its own blockchain, it has the foresight to engineer a payment method for the future that would support startups and businesses and also crypto-trading.

Now here’s why I find the Nexty platform simply unique – the speed at which transactions are executed, the zero transaction fees and the price stabilization system, where it would be managed by an expert group of economists in its early years after the ICO.

The speed at which the transactions are made, is possible with the use of the Duo Cryptocurrency Confirmation System (DCCS) which is special to them. With DCCS, transactions are done in split seconds at no charge. The DCCS is made up of two cryptocurrencies operating in parallel, the Nexty coin (NTY) which is the main currency used in daily transactions and the Nexty Foundation coin (NTF) which is for the transaction confirmation system. How it works is that instead of charging for each transaction, the holders of the NTF (i.e the personnel working behind the transaction confirmation system) will be rewarded with small amounts of NTY from time to time. This ensures that the transaction fees remain zero while still ensuring that rewards get to those that contribute to the transaction confirmation system. This reward system is generated by the Proof of Foundation (POF) algorithm in use.

BENEFITS OF NEXTY

In comparison with other blockchains, you could see in the image below that nexty has faster payment confirmation times and better scalability than most blockchains.

ROADMAP

TEAM DETAILS

Nexty has really got a sound team of professionals backing the project.

I really see Nexty on the world stage sometime in the near future, after all bitcoin was a big joke to many people as at 2010, but look at it now, I trust the Nexty team, I believe in the Nexty project, you should too.

To get more information about the project, here are some useful links:
Website
Project's whitepaper
BTT Ann Thread
BTT bounty thread
Telegram
Facebook
Twitter

Author: templar97
Bitcointalk profile