Article · Wikipedia archive · Last revised May 31, 2026

Nxt

NXT is an open source cryptocurrency and payment network launched in 2013 by anonymous software developer BCNext. It uses proof-of-stake to reach consensus for transactions—as such, there is a static money supply. Unlike Bitcoin, there is no mining.

Last revised
May 31, 2026
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≈ 4 min
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Wikipedia ↗
Nxt
Nxt Logo
Denominations
SymbolNXT
NicknameNxtcoin (also incorrectly referred to as Nextcoin)
Subunits
 1NXT
 10−8nxtQuant
Development
Development statuscurrently worth $119.93-$120.00 usd per coin
Demographics
Official userGlobal
Administration
Issuing authorityAdministration Decentralized
peer-to-peer consensus.
Date of introduction24 November 2013
Inflation_rateDisinflationary. All coins were distributed after IPO (28 September 2013 - 26 November 2013).
Website
Authority websitewww.jelurida.com/nxt

NXT is an open source cryptocurrency and payment network1 launched in 2013 by anonymous software developer BCNext.2 It uses proof-of-stake to reach consensus for transactions—as such, there is a static money supply. Unlike Bitcoin, there is no mining.34

NXT was specifically conceived as a flexible platform around build applications and financial services, and serves as basis for ARDR (Ardor), a blockchain-as-a-service multichain platform developed by Jelurida, and the cryptocurrency IoTeX.5 Jelurida is steward of NXT, and Nxt is currently a child chain of Ardor. In 2026, generations of new blocks and transactions on the Nyxt blockchain halted, at block 6 million. On February 1, 2026, the Nxt child chain was activated on the Ardor chain. Nxt software and source code is still available under a public license.

History

Founding (2013)

Nxt was developed by an anonymous software developer and released in November 24, 2013. It was developed to be used as a financial tool and application platform, which used a built in asset exchange system dependent on proof-of-stake instead of proof-of-work.6

NXT was created with a total of one billion coins.7 On 28 September 2013, BCNext created a forum thread announcing the proposed launch of NXT as a second generation cryptocurrency and asked for small bitcoin donations to determine how to distribute the initial stake. On 18 November 2013, fundraising for NXT was closed.

The initial coin offering collected 21 bitcoins that were worth US$17,000.8

New products (2014-2016)

On September 15, 2014, a tweet by one of Bitcoin's developers, Jeff Garzik, criticized the vulnerability of Nxt technology and the closed nature of the development process.910

In 2014, the Danish virtual currency exchange CCEDK began allowing the trading of NXT for fiat currency. At the time, according to Reuters, NXT was the fourth largest cryptocurrency with a market cap of $45 million. It had a user base of around 20,000 active users.11

NXT was covered extensively in the 2015 "Call for Evidence" report by ESMA.12

In 2015, the developers of the game Voxelnauts planned to use Nxt to provide ownership rights of items in the game.6

In July 2016, NXT launched Smart Transaction templates, which were meant to serve as building blocks for businesses to construct Blockchain solutions for particular problems.13

Jelurida and Ardor (2018-2026)

In 2016, Lior Yaffe founded the software firm Jelurida, which became the company behind the Ardor and Nxt blockchains. It founded Ardor in 2018, which is built on Nxt technology.14

In December 2017, Business Insider ranked Nxt as the 29th of 29 cryptocurrencies with a market cap above $1 billion, with a market cap of $1.028 billion.15 > Jelurida was the steward of NXT as of 2021.16

As of 2026, according to the Jelurida website, Nxt is currently a child chain of Ardor. On January 17, 2026, generations of new blocks and transactions on the Nyxt blockchain halted, at block 6 million. On February 1, 2026, the Nxt child chain was activated at block 4,333,333 on the Ardor chain. Nxt software and source code continued to be available under a public license.1

NXT cryptocurrency

The basic unit of account of the crypto platform is a cryptocurrency, which has the designation NXT. On July 29, 2014, Danish cryptocurrency exchange service CCEDK began offering NXT to fiat money for exchange.1718

References

References

  1. "Nxt". www.jelurida.com. 2026. Retrieved 7 May 2026.
  2. DeMartino, Ian (2016). The Bitcoin Guidebook: How to Obtain, Invest, and Spend the World's First Decentralized Cryptocurrency. New York: Skyhorse Publishing. ISBN 978-1-63450-524-6. Retrieved 2018-11-21.
  3. Prypto (2016). Bitcoin for Dummies. Hoboken, New Jersey: John Wiley & Sons. p. 170. ISBN 978-1-119-07613-1. Retrieved 2018-11-21.
  4. Ciaiana, Pavel; Rajcaniova, Miroslava; Kancs, d'Artis (January 2018). "Virtual relationships: Short- and long-run evidence from BitCoin and altcoin markets". Journal of International Financial Markets, Institutions and Money. 52. Elsevier: 173–195. arXiv:1706.07216. doi:10.1016/j.intfin.2017.11.001. ISSN 1042-4431. S2CID 113405558.
  5. "Ardor - Getting started". Jelurida.
  6. "Kickstarter: Voxelnauts MMO plans to use NXT-based blockchain virtual property management". SiliconAngle. 9 June 2025. Retrieved 11 August 2025.
  7. Franco, Pedro (2015). Understanding Bitcoin: Cryptography, Engineering and Economics. Chichester, West Sussex: John Wiley & Sons. pp. 203–204. ISBN 978-1-119-01916-9. Retrieved 2018-11-21.
  8. Lee, David Kuo Chen; Low, Linda (2018). Inclusive FinTech: Blockchain, Cryptocurrency and ICO. New York: World Scientific. p. 90. ISBN 978-981-3272-76-7. Retrieved 2018-11-21.
  9. "Bitcoin Pioneer Skeptical of the Latest Satoshi Nakamoto". www.bloomberg.com. 19 August 2019. Retrieved 2024-04-20.
  10. "Bitcoin developer chats about regulation, open source, and the elusive Satoshi Nakamoto". www.pcworld.com. Retrieved 2024-04-20.
  11. "Danish virtual bourse to trade NXT 'cryptocurrency' for real money". Reuters. 18 July 2014. Retrieved 11 August 2025.
  12. "Call for evidence, Investment using virtual currency or distributed ledger technology" (PDF). ESMA.
  13. "Nxt Core Team launches full suite of Smart Transactions". EconoTimes. 2016-07-26. Retrieved 2021-03-11.
  14. Kuznetsov, Nikolai (15 March 2023). "Jelurida's Lior Yaffe Talks Building and Battle-Testing a Blockchain". Nasdaq.com. Retrieved 7 May 2026.
  15. "The 29 cryptocurrencies with a market cap of more than $1 billion". businessinsider.com. 17 December 2017. Retrieved 7 May 2026.
  16. "About Jelurida | Jelurida". www.jelurida.com. Retrieved 2021-03-10.
  17. "Bitcoin Is Challenged as Danish Bourse Offers NXT Trading". www.bloomberg.com. 18 July 2014. Retrieved 2024-04-20.
  18. "Bitcoin competitor NXT in modest start to trade vs the dollar". www.reuters.com. Retrieved 2024-04-20.
External links