The NXT Generation
Blockchain
Transform your enterprise with the power of a permissioned blockchain
Read Our Whitepaper
Check out our whitepaper for an in-depth analysis of what, why, and how NXT Technologies Inc. aims to aid the blockchain industry and streamline enterprise adoption.
Ready To Shape The Future?
Transformative
Blockchain as a technology will disrupt industries and transform how they operate.
Transparency
Based on permissions in a private or public blockchain-based business network, one can see the full history of transactions.
Accountability & Privacy
Network members are known and identified with assigned permissions based on business role. However, transactions are only shared with members on a need-to-know basis.
Security
Every transaction recorded on the blockchain is cryptographically secured with digital signatures. Furthermore, the transactions are replicated across a shared distributed ledger.
Immutability
After a transaction has been completed and recorded on the blockchain, no one can delete or alter the transaction.
Why NXT?
NXT Technologies, Inc. is a Layer 1 permissioned blockchain company that is creating a global decentralized validator node ecosystem that will work directly with enterprise solutions, small business, and WEB 3.
Authentication KYC
In contrast to the permissionless environment of Bitcoin and Ethereum, all participants in a permissioned network must be identified and tracked, with clearly defined roles. On NXTChain, the KYC and role is referred to as the Certificate of Authority (CA). Furthermore, CAs ensure any dishonest on-chain activity can hold the user accountable.
Accountability
On NXTChain, access permissions are assigned based on business role, and network members are known and identified by cryptographic membership keys. This is important because real-world enterprise must abide by specific standards and laws such as General Data Protection Regulation of 2018(GDPR) and Health Insurance Portability and Accountability Act of 1996 (HIPAA).
Privacy
While network participants are aware of each other, on NXTChain, only members who are required to have information about a specific transaction are notified about it.
Flexibility
With the global node network of NXTremes, NXTChain is easily able to allocate nodes to specific projects and tailor the blockchain protocol rules to meet a client’s specific needs.
Proof-of-Authority: Environmentally Friendly and Sustainable protocol
The consensus mechanism on NXTChain is Proof-of-Authority. Validators and Delegators work together to power NXTChain enabling the economy by staking within the network and acting according to the consensus rules. Participants receive rewards for successful validation of blocks to the NXT Network. Validators and Delegators are not responsible for ensuring the compliance of a transaction, only that the transaction has been properly completed by protocol rules.
Permissioned vs Permissionless
Closed; Requires permission to join the network and participate in consensus
Incrementally decentralized to fully centralized; A governing authority acts as a gatekeeper
Transactions are private
Speed and high performance
-scalable Networks
Energy-efficient
Development by private entities; Less mindshare
Governing authority provides certain level of trust in the system
Consensus is reached quickly because computations are less complex due to limited users
Public; Does not require permission to join the network & participate in consensus
Fully decentralized, no gatekeepers
Transactions are transparent and accessible
Slow transaction speed
- Difficult to scale
Consumes a lot of energy
Development open-source; More mindshare, as there are more developers
Trustless;
The maths provide the proof
Consensus takes longer to reach due network size and complexity of computations
Secure
Unmatched Security And The Preparation For A Trustless World: NXT Technologies enables safe interaction of transactions between any actors, even those who do not know or trust one another. It provides a platform for creating trust where it might not otherwise exist, creating completely new markets and business prospects. NXT Technologies is demonstrably secure against malicious actors and Sybil attacks thanks to our consensus mechanisms -- PBFT, Federated, Round-robin.
Incentavized participation
NXTChain has an incentive system that compensates users for their engagement, either as stake pool operators or stake delegators, in order to preserve the network's lifespan and health. Any NXTChain user with a proven identity can join and propose to any committee. Proposals need to be staked to prevent the system from spamming council or committee members. The Governing Council is operated by network participants and members and will be decentralized over time.
- Governing Council --> Oversees all Committees
- Technical Team --> Oversees Technical Upgrades
- Economic Committee --> Overseeing Network Economy
- Corporate Governance and Nominating Committee
Scalable and Sustainable
Proof-of-Authority allows NXTchain to scale to satisfy demands with low energy consumption. A mix of new strategies, such as multi-ledger, side chains, and parallel transaction processing over multi-party state channels, are used to accomplish the performance-sustainability balance. As the number of stake pools rises, the network expands and parameters are defined and tweaked to gauge the allure of various stake pools. This network immediately rewards involvement. NXTChain is made to make sure that people who act in the network's best interests also act in their personal best interests. This guarantees the growth of a healthy ecosystem, which in turn protects the network's durability, health, and resilience both today and in the future. NXTChain is able to achieve the throughput necessary to satisfy the changing requirements of global systems, including financial, logistical, identity, and societal systems, because to the combination of sustainability and scalability.
NXTreme
Our flagship product is the NXTreme validator node and is the heart and soul of NXTChain. We are able to allocate NXTreme nodes to specific projects resulting in a robust and flexible network that can be tailored to certain projects without compromising others.
Decentralized Storage
The NXTreme also comes equipped with an extra 1TB drive called the NXTSafe—it’s a decentralized digital safe that uses the IPFS protocol. Users will be able to plugin to the NXTreme and upload files/documents to the blockchain.
