Nxt token is the native token of the Nxt platform that is the first proof-of-stake and an open-source blockchain platform. Nxt is one of the early projects in the blockchain arena. Thus, it has proved over time that blockchain technology is not only for simple transfer of value but also can revolutionize many aspects of people’s lives with various kinds of decentralized applications that can be built with this technology. With various built-in features, Nxt aims to provide most of the DApp use cases and is suitable for private blockchain implementations.

Launched with an aim to help companies, startups, organizations, and individuals incorporate blockchain technology, Nxt offers various functionalities like tokenizing the product, crowdfunding, creating a poll, and allowing to trade products on a decentralized marketplace.  

Some of the main characteristics of the platform are as follows;

NXT token has many use cases on the platform. These are used to establish consensus on the network by staking the native tokens by the users. The transaction fee is also paid in NXT tokens. In addition, assets can be traded for NXT only, and dividends are paid in NXT tokens on the Nxt DEX platform.  

Nxt blockchain solution is one of the products developed by Jelurida software development company and was launched on November 24, 2013. The platform is entirely coded in Java language. Lior Yaffe, Kristina Kalcheva, and Petko Petkov are the founders of the Jelurida company. 

As per the whitepaper, the maximum total supply of NXT tokens is 1 billion tokens.