Recently, I had the distinct pleasure to interview Graviton, Community Founder.  As many of you are familiar, I first learned about NXT after my father-in-law stumbled on the coin skyrocketing a month ago.  On January 3rd, NXT released their source code to the public.

“NXTCoin source code revealed today in a release on their website. The website received an overhaul as well.  DGEX is presently the only exchange offering trading in NXT.  The major addition to the crypto market is NXT’s Alias System which was not a part of the open source unveiling.”




The Crypto Analyst:  What is you position in the hierarchy at NXT?

Graviton:  Some consider me “third in command” after the silent inventor BCNext and his incredibly productive spokesperson / manager Come-from-Beyond. I founded the Community and serve as the BTC/NXT Cryptocurrency Exchange Operator.

TCA: Do you think today was positive for NXT?  The price of NXT sold off some 15%.

Graviton: Jan 3rd was a highly anticipated day for NXT as the source code was set to be published. Considering the circumstances, people were probably expecting more buzz from the markets, so many were disappointed for the way the NXT value actually reacted. The scope of the code revealed was perhaps not as extensive as expected. In addition the community was generally not happy for some decisions of as the major exchanger announcing addition of fees for NXT trading and delivery, as the the exchange was prior to that distributing NXT to buyers for free during the initial 5 weeks charging only for bitcoin proceedings. These factors reflected to the market, overall the trading volume was very high and the only real disappointment perhaps is the lack of major spike in price that some holders may have been expecting.

TCA: What are NXTCoin’s best features?

Graviton: May I correct it is called NXT – and is much more than a payment system. But if by NXTCoin you mean the currency, it has several points that make it technically superior to the 1st generation Proof-of-Work cryptocurrencies.

1.) NXT is not cloned from the Bitcoin concept, it is made from scratch thus allowing new features and advanced properties to be implemented from the grassroot level

2.) NXT utilizes an improved proof of stake mechanism, which makes it resilient against 51% attacks and blockchain forks that are a recurring threat in old proof-of-work currencies.

3.) Though an innovative Transparent Forging mechanism NXT allows high transaction rate and priority transactions through custom peer transmittance. This enables global payment network usage approaching credit card processor volumes when necessary.

4.) NXT is environment friendly, as high processing capability is not a requirement for NXT forging (“mining” for other cryptocurrencies). An older pc with internet connection – or a smartphone – is as good as a high end desktop workstation for the NXT network and has equal chance of getting the block rewards, the probability of which depends on the amount of currency held in each wallet.

5.) The NXT system upon which the coin feature is built on, inherently supports services outside the basic coin concept such as peer-to-peer exchange, colored coins, messaging/chat and DNS / alias.

TCA: The Alias System is very intriguing and actually alot of fun!  Considering it’s groundbreaking value, should Alias System code ever be made open source?  

Graviton: In my opinion yes, as keeping it closed will only stir up rumors and competition will overtake at some point nevertheless. But the timing should be strategically planned by the right persons within the NXT community.

TCA: What stops another coin from having an Alias System that will compete with NXTCoin?
Graviton: Basically the other coin would need to build on NXT and not any of the old 1st generation cryptocurrencies to achieve this in a feasibly way. Given that fact, NXT has quite a nice headstart :). Nothing of course prevents it, and competition is good for everybody in the big picture I would opine.

TCA: When the market opens for Alias’s I feel that things will get interesting. What do you think future uses of the Alias System will be?
Graviton: The Alias is an excellent system to make funds transfer as simple as typing in the name of the receiver. I can envision flourishing market for alias exchange (like domain name flipping currently) and ease of transacting for business adoption.
TCA:  Where do you see NXT’s position in the crypto market in 1 year, 5years?
Graviton: I personally don’t like to make predictions based on wholly uncertain market situation, but I see no definitive reason why NXT would not be challenging any altcoin in 1 year’s time and Bitcoin itself easily in five years. NXT’s trading volume and Market cap has been hanging in the top 6 to 8 positions of all cryptocoins for several weeks already at this early phase.
With the Alias System and colored-coins in place, I tend to agree with Graviton’s forecast.  I actually believe he is slightly modest.
-The Crypto Analyst