What is Nexty? Nexty is a revolution of blockchain platform Why? Let's take an example to see how Nexty can mitigate current issues of the industry
It is said that Ethereum is a revolution and a breakthrough in fund raising method, which is called ICO and a whole new economy of Token ICO projects raised more than 5 billion dollars in 2017, which was 20 times as much as in 2016 Some people have even called Vitalik as a God in blockchain industry! However, even gods have their weaknesses, so does Ethereum! TRANSACTION FEES At the highest fee recorded, Ethereum transaction could cost up to $55 If a project running on Ethereum platform has 1,000,000 transactions annually, it means that they will be charged millions of dollars for transfer fee! What a massive number! TRANSACTION TIME Recently, Ethereum is capable of processing 15 transactions per second
This means that if there are too many transactions occurring at the same time, the system may take you hours to finish your payment Imagine that you go to a coffee shop and order your favorite cappuccino, , then pay the bill by Ethereum As a result, you have to wait around 10 minutes and even up to 3 hours for your payment being processed That doesn’t make any sense, right? THE FLUCTUATION OF PRICE In 2/2018, the price of 1 Ethereum was approximately $900, after 1 month the price went down to only $400 This means that projects,which raised fund by Ethereum within this time lost more than a half of their capital
Therefore, they would not be able to develop their projects due to lack of resources In order to solve the problems mentioned, we have developed Nexty Platform and its own coin named NTY Nexty is the Next Revolution of Blockchain Platform With Nexty, the transaction fee is absolute zero Nexty is able to load up to 1800 tps and take only 2 seconds for a transaction processing
Nexty developed a new consensus, called Proof of Foundation so as to create a decentralized blockchain platform and eventually, to create a coin with price stabilization supported by Smart Staking and Smart Holding The purpose of Price Grow Stabilization System is to adjust the NTY coin on the market Smart Staking is a Dapps, developed by Nexty Foundation team, where people can deposit their NTY coin and reveive reward rates up to 30% annually This can encourage investors to deposit NTY into Smart Staking, hence, the supply of NTY may be decreased as well Besides Smart Staking, Nexty also provide another program, called Smart Holding for long term investors
Smart Holding will bring passive income to NTY Holder by air dropping 10% of Nexty’s ICO trusted partners token released, which is calculated by proportion of NTY owned Furthermore, NTY Holders can have many other fascinating privileges Smart Staking and Smart Holding will help decrease the supply, yet in order to make the price increase gradually, the demand must be increased, too To fulfill to that, it has to be the cooperation of the whole community to build Nexty ecosystem By providing 0 transfer fee and instant transfer, Nexty is superbly suitable to be applied to daily payment
Beside that, due to the fact that ICO projects can raise fund on Nexty platform to offer Token, the demand for NTY will be inclined significantly Nexty Foundation will continually hold events of Startup competitions and Hackathon to develop Nexty ecosystem, which help apply Blockchain and Cryptocurrency into reality In the nearest future, all of us can use NTY as a mean of daily payment and enjoy the free transactions globally!