Now, a leading investor within the community known as the 'Megalodon', referring to the fact this individual is the single largest stakeholder, is offering $150,000 worth of NXT digital tokens to anyone who runs NXT nodes.
Nxt is a peer to peer network, in which the network is made up of a large number of equally important nodes, each consisting of an individual machine running the Nxt client. The Nxt network does not build on the Bitcoin code. Instead, it uses its own code written from Java software.
The Nxt network is still relatively small when compared with Bitcoin and has the 14th largest cryptocurrency (NXT) by market capitalization. The number of nodes is important to ensure the security of the network: a limited number means the network can be compromised or attacked much more quickly than a larger network.
In essence, these nodes communicate with each other to create a decentralized super-computer where all contributors are rewarded for their efforts.
NXT was one of the first digital currencies to use a completely new block reward system, Proof of Stake. Unlike Bitcoin, Nxt doesn’t create hardware competition to increase the mining rewards. Instead, each NXT holder can potentially forge the next block. The ‘forging’ process is similar to a lottery, where only those with more than 1,000 NXT can participate in the ‘forging’ process.
A few months ago, the Nxt team announced it was developing a new Nxt 2.0 platform called Ardor. Ardor will be the next generation Blockchain-as-a-Service platform offering a complete boost for business profits, efficiency, and security. Built over the Nxt technology, Ardor was designed with unlimited scalability, safe, smart contracts, and customizable child chains.