Since the rise of the Bitcoin, the cryptocurrency and Blockchain industry has been at the center of attention for regular individuals, corporations, startups, and investors. However, it’s not a secret that BTC is highly volatile and continually experiences price fluctuations. Which puts the asset in a shaky position to be utilized on a daily basis to pay for day to day needs and wants. The search for the next potential bitcoin-like cryptocurrency with a variety of applications is always ongoing.
People are looking for the next cryptocurrency that can revolutionize the entire market and aid in the advancement of a digital and decentralized economy. Here’s where NEXT comes in.
NEXT is the native asset of the NEXT.exchange hybrid cryptocurrency exchange platform (which will soon receive a significant upgrade), as well as the NEXT.chain, (currently in testnet) and has a lineup of unique functionality and features that positions it to be a prime competitor against other cryptocurrency market leaders. Let’s get into what the NEXT ecosystem has to offer with its own Blockchain and digital asset.
Unique Features of NEXT.chain
1. POW/POS combination
As opposed to Bitcoin, which is a Proof-of-Work (PoW) system, NEXT is hybrid and a combination of both PoW and Proof-of-Stake (PoS) consensus mechanisms and utilizes Masternodes. This provides NEXT users and holders with a two-layer network.
2. High transaction capacity
Bitcoin transaction speeds are quite slow, with around 7 transactions occurring every second. NEXT, however, is capable of achieving transaction capacities of up to 100,000 tx/sec in the long run as the NEXT network grows.
3. Digital asset creation
The NEXT.chain allows for the creation of digital assets through the use of NEXT. The process is similar to that of creating an ERC20 asset on the Ethereum Blockchain.
4. Access to desktop and mobile wallets.
Individuals will be able to access the NEXT.chain and all of its added functionality from desktop (Windows, Linux, and MAC) wallets which are already available for download at chain.next.exchange, and soon via mobile wallets for iOS and Android systems. Additionally, users trading on the NEXT.exchange platform receive individual Blockchain wallets for each asset.
5. Individual payment application and plastic card
The team behind NEXT.chain has it within their plans to deploy a payment application and payment card in the foreseeable future. The payment application will allow users to utilize the NEXT.chain and NEXT ecosystem as a payment provider, similar to that of PayPal. The plastic card will allow its holders to utilize it in a similar fashion to popular debit and credit cards to carry out transactions in both fiat and cryptocurrency.
6. Integration with e-commerce shops and payment terminals
Our chain allows NEXT to be integrated with e-commerce shops and payment terminals, which is ideal for businesses that want to utilize digital assets. This will allow merchants and businesses to pay lower fees than in comparison to legacy methods and accept a wider range of payment methods.
The use of NEXT on NEXT.exchange
Holders of NEXT gain access to the following functionality and advantages on the NEXT.exchange hybrid cryptocurrency trading platform.
1. Trading with fiat pairings.
NEXT holders gain access to fiat pairings. Meaning they can trade all cryptocurrencies on NEXT.exchange directly against fiat currencies
2. Reduced trading fees
NEXT holders receive reduced trading fees of 50%. Trading fees without NEXT are 0.50%, with NEXT, 0.25%.
3. Profit sharing
NEXT holders are entitled to all of the profits generated from platform trading fees with the exception of necessary operating costs. Ethereum will be acquired at the end of each quarter from platform fees and distributed across each NEXT holder and his or her holdings.
4. Priority access to new listings
It’s possible for NEXT holders to gain access to trade newly listed access up to two weeks prior to non-NEXT holders.
The road ahead.
With the functionality and features that the NEXT ecosystem stands ready to provide the Blockchain and cryptocurrency industries with, it’s quite likely that it will become a sure competitor to other popular cryptocurrencies that possess an imposing market share. The team behind the ecosystem has many great plans in their pipeline and an active community from day 1. They are always active in their Telegram chat and post frequently on Twitter.