Nxt - Definition from the Hotspot Shield Encyclopedia

Nxt is a cryptocurrency and payment network that is open source and was first released in 2013. The currency uses a proof of stake system for transactions and therefore has no mining facility.

The Nxt platform includes an asset exchange (trading of shares and crypto assets), a trading marketplace and a messaging system; it also facilitates the creation of new currencies. Nxt uses the Blockchain concept but its code is written from scratch and not based on the Bitcoin Blockchain. Aside from its code features, Nxt also includes a data storage system, and alias system, plugin support, and support for multi-signature transactions.