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What is NXT (NXT)?

Nxt (NXT) is an open-source cryptocurrency and payment network launched in November 2013 by anonymous software developer BCNext. Created from scratch and written in Java, it uses proof-of-stake, a method of achieving distributed consensus and securing a cryptocurrency network, to provide consensus for transactions. As such, there is a static money supply and no mining. Nxt is specifically conceived as a flexible platform to build applications and financial services around. It has an integrated asset exchange (comparable to shares), messaging system and marketplace. Future releases will also allow users the creation of new currencies within the system.