History of Nxt in Timeline

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By Popular Timelines Editorial Team  · Updated:
Nxt

NXT is an open-source cryptocurrency and payment network launched in 2013 using a proof-of-stake consensus mechanism, distinguishing it from Bitcoin by eliminating mining and maintaining a static money supply. Conceived as a versatile platform for applications and financial services, NXT serves as the foundation for ARDR (Ardor), a blockchain-as-a-service platform, and is currently managed by IoTeX since 2021. The cryptocurrency has been extensively covered in a report by ESMA.

September 2013: NXT Launch Proposal

On September 28, 2013, BCNext announced the proposal to launch NXT as a second generation cryptocurrency in a forum thread. BCNext requested small bitcoin donations to determine the initial stake distribution.

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November 2013: NXT Fundraising Closed

On November 18, 2013, fundraising for NXT was closed.

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2013: NXT Cryptocurrency Launch

In 2013, NXT, an open source cryptocurrency and payment network, was launched by anonymous software developer BCNext. It uses a proof-of-stake mechanism and has a static money supply, differing from Bitcoin's mining process. NXT was designed as a platform for building applications and financial services.

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July 29, 2014: CCEDK Offers NXT Exchange

On July 29, 2014, Danish cryptocurrency exchange service CCEDK started offering NXT for exchange with fiat money.

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September 15, 2014: Jeff Garzik Criticizes NXT

On September 15, 2014, Bitcoin developer Jeff Garzik tweeted about the vulnerability of Nxt technology and the closed nature of its development process.

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July 2016: NXT Launches Smart Transaction Templates

In July 2016, NXT introduced Smart Transaction templates, intending them to serve as building blocks for businesses to create Blockchain solutions.

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2021: IoTeX Stewardship of NXT

In 2021, IoTeX cryptocurrency became the steward of NXT.

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