Blockchain DAppsNXT

Nxt Forms “Front-End” Non-Profit Foundation, Debuts New Multisig Technologies

Nxt, the Proof-of-Stake cryptocurrency platform launched in November 2013,  announced yesterday the establishment of the non-profit Nxt Foundation. Nxt also unveiled conference partnerships and developments in the overall Nxt ecosystem.

Nxt incorporated the profit Nxt Foundation in the Netherlands, which will act as a front-end organisation for support, promotion and education on all aspects of the Nxt ecosystem, partnering with the leading Nxt resource site Nxt Inside. Nxt will also sponsor the upcoming high profile payments conferences PayExpo 2015 and Mind the Gap Expo.

A number of tech start-ups harnessing the unprecedented features of Nxt are also emerging, while Nxt’s new multisig technologies – Voting System and Phased Transactions – are also due to be demonstrated soon.

Nxt’s Asset Exchange, which can be seen as an implementation of the ‘Colored Coins’ concept, has proven to be very popular, allowing businesses and other ventures to raise and distribute capital using a crypto-based platform.

Similarly, the Nxt Messaging System, which facilitates data transfer and storage, is being adopted as a means of creating a Smart Contracts implementation by www.smartcontract.com.

Additionally, the Nxt community’s newest major startups are building Decentralised Business Networks, frameworks for using Nxt like Jay, security systems to work with Nxt like the Keystash Project and others.

Nxt Foundation will be representing Nxt at the Mind the Gap Expo, for which it is the Platinum sponsor, together with Manx Telecom and 44Phones.

The Nxt organization reports that in June it will have a strong presence at PayExpo 2015, where it is the official cryptocurrency partner. Nxt representatives will deliver PayExpo’s keynote speech, explaining how Nxt and its associated systems can play an important role in the development of financial services. There will also be a cryptocurrency seminar, focusing on educating mainstream financial professionals about the potential uses of the Nxt platform.

At these events, Nxt will showcase its upcoming Voting System and Phased Transactions – a more powerful version of multisig transactions.

These systems will be compatible with any of Nxt’s already active features and will add to the family of modular transactions that Nxt supports.

Writes for Asia Tech Media Limited's publications, bigdataphile.com and allcoinsnews.com. Experienced blogger and freelance IT/business writer for Chinese and English magazines and newspapers. Studied journalism at Indiana University Bloomington.
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