INTRODUCTION.
Nexty is a financial technology Blockchain company set to disrupt the traditional payment system using the Ethereum Blockchain open source code to effect fast and zero fee payment transactions and to help startups fintech generate funds from their communities.
Financial technology (Fintech) is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. The Nexty project was founded by a team of Blockchain experts drawn from across the world. Traditional payment systems utilises payment tools such as PayPal, Google wallet,apple pay,wepay venmo,stripe.Only recently the digital wallets built on Blockchain technology came into existence such as Bitcoin,Ethereum,Cadano,Nem, EOS and Neo to mention just a few.
The traditional payment tools became inefficient as disputes arising from unconfirmed transactions,double spend slow payment confirmations and cross border charges plagued the global financial system.The Bitcoin blockchain technology paved way for digital wallets.The digital wallets is an improvement over the traditional payment tools, but, not without its short comings. Hence the need for a new innovation by the Nexty platform.The platform currently has to its credits 3 functional digital wallets IOS,Android and web.
THE PROBLEM.
The Global financial world utilized the traditional payment systems,the banks and financial institutions as a means of facilitating payments for services and e-commerce,payment tools were deployed to secure these payments, locally and across borders. However as time passed these payment tools became cumbersome and inefficient with high transaction fees,slow transfers and unsecured credit cards, identity thefts became prevalent.
The Blockchain technology with its decentralized open ledger system where record of all transactions are open to all parties,void of disputes, paved way for digital wallets.The blockchain technology has gained popularity and currently a growing market,this is reflected in the growth in the coinmarketcap to $400Billion+ in May 2018. Digital wallets deploys the blockchain technology as a means for effecting payment. Other Blockchain wallets are Ethereum,Neo,Neo and Cadano XRP
As more adoption of digital wallets increased certain limitations and problems disrupted the efficacy of the digital wallets.
• Time frame for payments and transaction became longer as more blocks accumulated on the chain.In November 2017 the Ethereum Blockchain experienced a heavy backlog of blocks and transactions took some days for confirmation of blocks,similarly the bitcoin Blockchain had series of forks to lighten the blocks resulting in bitcoin cash,bitcoin gold and bitcoin diamond among the prominent ones,all these forks was aimed at solving scalability problems.
• High transaction fees charged by miners,shortly before the bitcoin forks in December 2017.
• Slow transactions.
THE NEXTY SOLUTION.
The Nexty platform is set to solve the scalability problems, inherent in these common digital wallets by deploying the Ethereum open source code and POF consensus Algorithm.
The nexty platform is
• Zero transactions fee,Subscribers to the nexty platform are charged zero fees for payments and transaction using the nexty coin.
• Price stabilization system using the dual cryotocurrency confirmation system.The NTY coin and the NTF coin.
• Instant transfer,the P2P QR code in app ensures instant transfer within 2seconds,this is unprecedented.Below is a comparison table of the Nexty platform and other existing payment platforms.
WHY INVEST IN NEXTY PLATFORM.
• The Nexty platform utilizes the dual cryptocurrency confirmation system to deploy instant transaction charged at zero fee,while securing confidentiality of the P2P.
• The dual cryptocurrency,namely the NTF and the NTY,the NTY is a daily transaction coin and the NTF a P2P transaction confirmation system,these two coins run parallel on the Nexty currency platform.
• NTF holders are allowed to equip mining and transaction confirmation machines.
• Holders of the NTF are rewarded with a small quantity of cryptocurrency at mining rate at the end of sealing round which is about 30-minute to 360-minute long. This will allow the transaction fees to be zero and instant.
• Staking is a feature of the Nexty platform designed for price stabilization of the dual cryptocurrency. Holders of NTY are rewarded with bonus coins over specified time frames to reduce volatility of the NTY.Time frames are 7-day staking,30-day staking and 90-day staking.
• Nexty currently own 3 functional Apps, Wallet apps for Android, Wallet apps for iOS and Web wallet apps. The web wallet apps (apps.nexty.io is now being upgraded into dApps, To be ready on June 21, 2018 and non-ICO holders of NTY can join Smart staking.The Nexty wallet is available on playstore.
TOKEN METRICS.
Ethereum based ERC20 token.
• Coin name:Nexty and Nexty foundation.
• Ticker :NTY and NTF
• Total supply of NTY 10BIllion
• Total supply of NTF 10Million(generated automatically only after 3months staking of the 10Billion NTY)
Nexty Presale and ICO closed in December 2017,NTY is currently trading the ETH pair on idax exchange.Team information is available on the Nexty website.
IMPORTANT LINKS.
Website https://nexty.io/
Telegram: https://t.me/nexty_io
Twitter: https://twitter.com/nextyio
Facebook:https://facebook.com/nextycoin
ANN thread:https://bitcointalk.org/index.php?topic=3983311.msg37771966#msg37771966
Written by Fehintola-Grace
Username Funmi24
Bitcointalk url:
https://bitcointalk.org/index.php?action=profile;u=2100818
Nice projects. When will mainnet be launched
Nexty mainnet is up and running.
What a great innovation! But do they have an MVP yet?
Yes they have,you can download the ios or android version on playstore.the web version will be launched later this month of June.
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