Nxt is different from many other cryptocurrencies in that it does not involve mining. It has a static supply of coins and relies on proof-of-stake to process transactions. It is also referred to as Nxtcoin, but the subunit is NXT and the smallest unit is known as nxtQuant. It was introduced in 2013 and uses a decentralized peer-to-peer platform. In this element, it is identical to the platform used by other virtual currencies. All the available coins have been distributed, which therefore means inflation cannot affect this cryptocurrency.

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