NEXT.chain Utilities and functionalities

Projects with own blockchain are far more likely to perform better than those without own blockchain backing up their assets. Owned blockchain projects are seen as more credible and legitimate compared to projects building on top other chains, thereby increasing their chance of success.  

 “A blockchain is, an immutable time-stamped series record of data that is distributed and managed by cluster of computers” - Blockgeek 

 The purpose and utilities resulting in building own blockchain are enormous. The list is endless;

• Governance
• Security
• Transactions done in the platform achieves greater speed
• Interoperability across various chains etc

NEXT.chain is the core of NEXT Ecosystem and mainly NEXT.exchange and its native coin NEXT Coin. NEXT.chain contains some characteristics of best available chains in the market which are Bitcoin, Ethereum, Dash and ITC Protocol which was developed further to achieve greater functionalities. 

Bitcoin core with Ethereum’s smart contracts feature is added on top and allows for  transactions through masternodes. With speed in sight ITC protocol was used to execute instant settlements. NEXT.chain uses 2 nodes; 

1. Masternode
2. Genesis Node

In ITC protocol, the genesis node is the central controller which will confirm the transaction first and masternodes will flow the transactions to the wallet. It may sound like Z-DAG Protocol but there are few differences. First, Z-DAG protocol doesn’t have a central node and they cannot stop the transaction, ITC Protocol can do this and it’s 100% regulatory compliant! It’s important to mention that this may achieve lighting fast transactions!  

Once the first-year target for 100 masternodes is achieved NEXT.chain aims to be one of the fastest! blockchain solution available. 

Asset Creation on NEXT.chain 

As an additional benefit for businesses, NEXT allows anyone (after KYC) to easily create and maintain their own digital asset, similar to Ethereum's ERC20 tokens. 00X is going to be used for assets issued on NEXT.chain like ERC-20. Projects which are created on NEXT.chain will be verified and analysed by NEXT Team and if, only the team is convinced with the project, it will be listed on NEXT.exchange. 

 NEXT Masternodes 

Masternodes are one of the lucrative means by which one could earn passive and extra income by the side, running a masternode provides a guaranteed and consistent way of earning extra coins, which can increase in value as a Blockchain grows.  Funds that you receive from running a masternode can then be stacked in order to gain even greater rewards. Meanwhile, owning a NEXT Masternode will provide you with voting rights and partial governance over the NEXT.chain. You’re a supporter; you’re an owner; you are in power!

Unlike most masternodes system out there there is no lock-up period for NEXT masternode, meaning you can disable your NEXT Masternode and leave the network at any time. However, keep in mind that dedicated nodes which support NEXT.chain over a prolonged period receive better rewards (fair enough). 

Seniority is based on collateral transaction block height. It will not be affected if a node gets disconnected. However, if you move or withdraw the 25,000 NEXT used as collateral, you lose seniority. Every 4-month period in the lifespan of a single Masternode will result in a 3%  increase in the ROI for that masternode. A maximum ROI bonus of 27% is possible if the Masternode is operational for 3 or more years.

NEXT blockchain operates on a hybrid consensus mechanism largely based on SHA256 cryptographic hash function (the same as Bitcoin). NEXT.chain supports both Masternodes and mining. Thus, the chain utilizes PoS and PoW principles to create a network that promises pretty powerful security without having to compromise in speed.   

“Holding a NEXT Masternode is more valuable and reliable than 90% of the Masternodes out in the market today. Why? Because NEXT has utility, a direct purpose, function, and active user base. Our blockchain network will act as the backbone of our already functioning cryptocurrency exchange, NEXT.exchange, and can see many businesses uses” - Project Team 

85 masternodes is currently live with 10 shared masternodes making it a total of 95 masternodes out of the target of 100 masternodes for the first year - a big win on speed of transaction and security on the NEXT.chain.  In order to run a masternode, a user must have 25.000 NEXT coins and complete KYC process. As an extra; masternodes are excluded from circulating supply.

Shared masternode opportunity is available for users with 5000 NEXT coins, 50 spots limit for the entire duration of the project. NEXT team will host the shared masternodes on behalf of the users and distribute rewards in weekly basis. Shared masternodes will be locked for three months and owners will have an option to opt out every three months.
 

NEXT on full blast! 

Move to The NEXT chain

Official Site: NEXT.exchange

Official Announcements: @nextexchange

Official Twitter: twitter.com/NextExchange

For Business Inquiries: [email protected]

Official telegram group: https://t.me/next_exchange