With latest release of its software, the Nxt team believes it has reached a new milestone in its Blockchain 2.0 platform.
The new release – Nxt software version 1.5 – apparently includles voting functionality, ability to use enhanced multisig account control, and improved data storage and transfer capabilities.
From its beginning in late 2013, Nxt has apparently been designed to be a multipurpose platform to be used either directly from the NRS client software or to be incorporated into third party applications.
The Nxt Blockchain 2.0 system now can offer account authorisation via the issue of secure tokens, enhanced data transfer and storage – with the ability to remove data when required, voting, multisignature transactions and more.
The current feature set, after the version 1.5 implementation of Voting and Phasing (enhanced multisig/account control) includes:
- Send Transactions – sending the NXT currency or tokens to accounts
- Data Transactions – send and store up to 40 kb of data
- Coloured Coins Transactions – create and trade Asset tokens
- Alias Creation Transactions – enabling the assignment of strings, such as a DNS entry, to Nxt accounts
- Sales Transactions- create and manage digital sales via a native marketplace
- Signature Transactions – provide proof of account via single-use token authentication
- Voting Transactions – fully customised polling system based on the Nxt blockchain
- Multisig Transactions
- Custom Currencies Transactions – create customisable currencies on top of the Nxt blockchain
More in-depth information about these transaction types can be found in the Nxt Wiki or on the resource site.
Tool for DAOs
Nxt can be used as a tool for the creation of Decentralised Autonomous Organisations (DAOs). A business or developer can issue their own tokens representing their organisational structure, handle a transaction stream, and keep their finance records in a fully transparent and auditable manner on the blockchain. Building new tools to enhance the core Nxt functionality for a business’s own requirements is possible, and the Nxt developer community has indicated that it will provide support for custom solutions where required.
The Nxt client software (the NRS client) is not necessarily required, since Nxt can be utilized directly from within other applications by using the Nxt API, which currently has around 150 function calls. Full documentation for Nxt API can be found on the Nxt Wiki.
Some of projects that have been or are being built with Nxt include MyNxt.info – a browser wallet that supports plugins, DeBuNe – a company building business tools with Nxt, and Pangea Poker – a fully decentralised poker application.
Nxt Foundation, PayExpo and Hackcoin Hackathon
Last month, the Nxt Foundation was incorporated as a portal organisation to act as a point of contact for the Nxt community. The Nxt Foundation can also connect anyone with project ideas involving Nxt, such as entrepreneurs and business owners, with developers who can support or implement ideas and projects.
The Nxt Foundation will be the official Cryptocurrency Sponsor of the upcoming PayExpo event, to be held in London on the 9th and 10th June 2015. Nxt is also the sponsor of the upcoming Hackcoin Hackathon in Hong Kong on 23rd May 2015.
Anyone is welcome to contact the Nxt Foundation at email@example.com should they have any questions or require any assistance with Nxt, or a project involving Nxt.
NXT in Space
Nxt is also a sponsor for the Low Orbit Helium Assisted Navigator (LOHAN) project – a private UK-based initiative to launch an autonomous 3d-printed drone to the edge of space, according to the foundation. This mission will carry a copy of the Nxt client software on its flight control computer.