For cryptocurrency to become a part of life for the average person, developers must leverage crypto technology to provide user-friendly solutions to everyday problems. Two such problems are privacy and security. Between government spying, corporate data breaches, and Celebgate, the mainstream public is beginning to take privacy seriously, and Nxtty hopes to provide a cryptocurrency-based platform for secure, private digital communications. As the official press release explains, Nxtty Crypto Messenger users can seamlessly transition between private and public chat to simulate real-world communications.
The concept of the NXTTYconomy is to create a complete backdrop for Nxtty as a social messenger with anonymous Open Chat, private chat, a wallet feature, and a simple search option for contacts. Transactions are designed to take place in the app through the use of Nxttycoins that can be spent on intriguing and insightful photo posts from users while the wallet feature is designed to track incoming and outgoing Nxttycoins that will be fully transferable.
Nxtty messages are routed through a centralized server (and centralization always provides a point of failure), but user messages are encrypted locally to protect privacy (much like ProtonMail, the encrypted email service).
The Crypto Messenger app also includes a Nxttycoin wallet. Nxttycoin serves as the app’s native currency, as well as its ownership mechanism. Users can send, receive, and tip Nxttycoins from within the app. The first 100,000 users who download the app and sign up will receive 2,500 Nxttycoins (~$8 at current prices). Aside from ownership and in-app tipping, developers have revealed few details about what other uses Nxttycoins will have, but at the very least they should introduce new users to the cryptocurrency community. Even if Nxttycoin does not take off, Nxtty users who are new to cryptocurrency may be more receptive when introduced to bitcoin or other altcoins.
What do you think of Nxtty’s Crypto Messenger? Comment below!
Disclosure: The author is paid in and holds investments in bitcoin. He is not invested in or affiliated with any of the altcoins discussed in this article. Any advice contained in this article is solely the opinion of the author and does not reflect the views of CCN.com. Neither the author nor CCN.com is liable for your investing decisions, so do your homework and never invest more than you are willing to lose.
Images from Nxtty and Shutterstock.
Last modified: June 10, 2020 5:03 PM UTC