NTY - One of the best new coins on the market

Technology is used extensively for financial transactions, and there are many blockchain based cryptocurrency platforms which are developed to reduce the time taken to complete the financial transactions, cost of these transactions. The Nexty platform which uses the Nexty coin , NTY had its Initial coin offering in December 2017, and is being promoted as a platform for free and fast financial transactions. With its dual cryptocurrency confirmation system using NTY and the Nexty Foundation Coin, NTF, the Nexty platform allows users to make and receive payment without charging any transaction fee .

The New Economy Movement, or NEM, is an enterprise grade blockchain technology platform which has become very popular in Japan, as the technology is used by large companies including banks and manufacturers for processing transactions . Though it is not very high profile like other cryptocurrencies, it is one of the top ten cryptocurrencies in terms of market capitalization. It is designed to be flexible, fast, scalable and secure, and allows developers to build new applications using the platform easily using the API. It is the first blockchain which is both private and public.

After the above General introductions of each coin,most investors in cryptocurrencies would like to Compare and contrast these currencies so that they can choose a particular currency for their financial transactions and also for investing. NEM platform was developed in 2015, so it has been used for some time, developers and users are aware of the features of the platform, the advantages and disadvantages. NTY and Nexty system were only introduced in 2017, so there is less information about the platform, blockchain developers, cryptocurrency users and investors are not aware of its features, advantages and other details.

The Nexty system uses the Proof of Foundation (POF) for confirming transactions on the platform, only those who are holding NTF can confirm the transactions on the platform and build machines mining the coins NTY, which are used for transaction. Only a limited number of NTF are issued to initial investors in NTY. NEM system allows users to harvest blocks and get rewarded for confirming transactions, based on the Proof of Importance (POI). The POI of a user depends on how active the user is in the system, how many transactions are completed in a particular time period using NEM, and also the amount of NEM tokens he has in his online wallet. A user with a higher POI score will make more.

The average transaction time on the Nexty platform is only two seconds, while the time taken to complete a transaction on the NEM system is 60 seconds on the average . However 1800 transactions can be completed with NTY per second, while the NEM is developed for a larger number of transactions, 4000 per second. While transactions using NTY do not require any fee to be paid, on an average a fee of $0.05 has to be paid for NEM transactions. Smart contracts can be implemented with NTY, while this feature is not available with NEM. NTY has a provision for an Ethereum swap, while there is no similar provision for NEM.

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