Current features of Nxt, as of version 1.12.2, include:
With Account control, any account can be restricted to only issuing phased transactions subject to a specific voting model. This enables interesting use cases like:
- Multi-signature, so that more than one key is required to authorize a transaction.
- Tagging, so that an account tagged as e.g. "savings" cannot, for example, send tokens.
- Escrow, so that a locked account cannot transfer assets, aliases, etc. except when some specific circumstances are met.
Account leasing allow users to lease their forging power to another account for a fixed period of time. This enables the creation of forging pools, where the forging power of multiple users is combined to increase the chance of generating a block.
Account leasing is also relevant if a user wants to take part in the forging process without having to keep a node running 24/7.
An Account monitor is a component that automatically transfers tokens (eg: NXT), ASSET or CURRENCY from a funding account to recipient accounts when the amount held by the recipient accounts drops below a set threshold.
Account properties enable Nxt users to permanently tag an Nxt account with a small amount of data. These properties can then be used to provide meta-information about an account and can be linked to phasing by property conditions.
Nxt implements an alias system that translates alphanumeric text into almost anything: Nxt account addresses, email addresses, URLs, phone numbers, SKU codes, and more. The Alias System not only gives Nxt the ability to function as a Decentralized DNS system, but also adds additional possibilities for mapping short names to other entities.
Arbitrary messages allow Nxt users to send small amounts of data through the decentralized network. This data can be optionally encrypted. The term "message" is loose: this feature can be used to send simple text messages, but can also be used to send up to 1000 bytes of any data. As a result, it can be used to build file-sharing services, decentralized applications, and higher-level Nxt services.
Nxt's Asset exchange provides a decentralized, peer-to-peer exchange system based on the "coins" concept that eliminates trust points and its associated fees.
Up until now, if you wanted to trade cryptocurrencies and other digital assets, you had to sign up for an account on a centralized platform such as Cryptsy/BTC-E/Bter/etc, transfer your assets to them, and pay them transaction fees. This brings in a large concern: a centralized exchange could just bail with everyone's deposits.
Asset properties allow attaching metadata to assets, in the form of name/value pairs. Anyone can set a property on an asset. Only the asset issuer, or the setter of the property, can delete a property. The setter of a property can edit it by setting a new property with the same name.
Coin shuffling is a privacy feature that enables users to mix their funds with that of others. The process is quick and efficient and works by creating a random mapping between the existing user accounts and different, new recipient accounts also provided by the users.
The Nxt Data Cloud is a decentralised data storage system.
In addition to keeping a record of Nxt transactions, the blockchain can also be used to store user-defined data. All forms of data can be uploaded to the Nxt blockchain, providing a secure (and, if desired, permanent) method of storing, retrieving and publishing information
In Nxt the process of block generation is called forging. Every Nxt node is involved into this providing the associated wallet has at least 1.000 ARDR and stays open no less than 24 hours (1440 blocks)
The graphical installer provides a simple and user friendly setup of the Nxt client software for the supported operating systems.
The Marketplace feature provides a protocol for building decentralized, peer-to-peer stores for any kind of digital goods.
The monetary system enables any user to issue customizable currencies secured by the Nxt network.
Phasing allows transactions with deferred execution, with or without conditions, which forms the basis of many use cases.
The plugin framework allows third-party software developers to add new functionality and embed it directly into the Nxt client interface.
The purpose of this feature is to support exchanging NXT to/from other crypto-currencies directly from inside the client wallet. In addition it provides a way to quickly fund a new account using Bitcoin and thereby secure it with a public key.
The secure, encrypted, consensus-based nature of the Nxt network allows the implementation of a voting system that guarantees anonymity and security, without relying on a central authority to tally the votes.