NXT is an open-source crypto-platform featuring a decentralized, non-corporate structure. It’s similar to the Linux operating system in its support of the open-source mindset and its organizational structures. The developer known as ‘BCNext’ wrote the core code in Java and launched the NXT system in November of 2013. It utilizes its own native blockchain implementation based on the Proof of Stake paradigm instead of the Proof of Work. NXT is totally new code from scratch and has been running securely and independently for over a year. The new NXT core features include native blockchain implementation, and a block time of one minute, based on the Curve 22519 algorithm.
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