Nexty Vs. Other Cryptocurrencies

In my last article about Nexty Platform (Link to previous Article) we talked about the Nexty Platform in general and how its application can be used to tackle various problems in the processes of transferring funds. Today we are going to talk about the comparison of different functions between Nexty and other cryptocurrencies.

Nexty Vs Other Cryptocurrencies

It's a known and proven fact that nexty outperforms most of our various new cryptocurrencies and we will show you how by comparing the Nexty blockchain against others.

• Consensus Algorithm - this is a major component in every great cryptocurrency and it has two functions: it makes sure that the next block on a blockchain is the one and only version of the truth and also prevents others from tampering and disrupting the system as it forks the chain. They are numerous types which include Proof of Work (Bitcoin and Ethereum) , Proof of Stake (Peercoin) , Delegated Proof of Stake (Steemit and EOS) , Proof of Foundation and so on.
  Nexty uses Proof of Foundation which is the newest and most superior form.

• Average Block Time - this is the time taken for the Network to generate a new extra block and Nexty has a very short time of 2s compared to other cryptocurrencies such as bitcoin (10min), Ethereum (15s), and NEM (60s).

• Transaction per Second - this is the no of transactions that take place within a second and Nexty has a whopping rate of 1800 compared to bitcoin which has only 7 and ethereum that has 20.

• Average Transaction Fees - this is the fees that is being charged when sending from one person to another and this fee is used to pay the miners. Nexty doesn't charge transactions fees at all compared to bitcoin (1.7USD), Ethereum (0.19USD) or NEM (0.05). This is made possible by the implementation of the Dual CryptoCurrency Confirmation System, where it uses two currencies, firstly is the NTY, which is used for daily transactions and the NTF, used for the transaction confirmation system. This system awards the holders of the NTF with few coins at the sealing round which is about 30-360 mind long, instead of charging per transaction. This now makes the transaction fees to be zero as the transaction takes place.

• Smart Contract - It has a smart contract as well as ethereum, eos and cardano. It's only bitcoin that doesn't have a smart contract.

• Open Source - It's a partially open source but by August this year, its going to be fully source.

• Circulating Supply - Nexty has a very large circulating supply of 180,000,000,000 NTY, compared to other coins and with the use of the Price Stabilization System Algorithm, they hope to achieve a target price of 1USD for a single NTY.

With all the above being said, it's now seen that NEXTY has more features compared to other cryptocurrencies out there and all this features makes it very feasible and perfect to be the main cryptocurrency to be used for payments, business transaction and other finance matters. It is the Future of Financial transactions and in my opinion, I feel it is the best cryptocurrency out here.

On my next article, we will talk about the features of the NEXTY coin and what market or exchange we can get Nexty from.

THANKS for reading.

For more information, please visit

OFFICIAL WEBSITE: https://nexty.io/

ANNTHREAD: https://bitcointalk.org/index.php?topic=2498919

White Paper: https://nexty.io/nexty-whitepaper.pdf

MEDIUM Blog: https://medium.com/@nextyio

Twitter: https://twitter.com/nextyio

Facebook: https://facebook.com/nextycoin

Telegram: https://t.me/nexty_io

Author: hamzeto
https://bitcointalk.org/index.php?action=profile;u=1189991