Nexty or NTY is a, relatively, new addition to the crypto realm. However, every crypto that’s launched has a purpose for its existence and use. NTY’s value proposition is about making this a virtual currency of choice with quick transfers and no transaction fee. The short-term goal of the NTY coin is to create a Fintech Eco-system by on-boarding new ecommerce stores to raise seed funding.The Nexty platform offers instant transfers with enormous scalability. According to the investors and users of the NTY coin, transfers from wallet to wallet are achievable in 2 seconds (Almost Real Time). As per the development team of Nexty, the ecommerce platforms will be able to integrate NTY as a payment gateway. Popular Ecommerce Platforms, such as Joomla and Drupal already have support for the integration.
Another great aspect of the NTY coin – a unique selling proposition – is the zero transaction fees! This feature of the platform has been achieved with a proprietary AI algorithm. Other conventional cryptos, like BTC, ETH, and XRP etc charge a transaction fee.
The NTY coin is based on a Dual Crypto confirmation mechanism. This means that there’s another coin –NTF – that is exclusive for the purpose of transaction confirmation. The NTF coin is based on an algorithm that has been devised as a purely operational entity. The purpose of NTF coin is to ensure transactions are accurate and taking place at a high speed.
The Ripple coin or XRP has somewhat similar features. However, the Ripple coin has been designed for usage by financial institutions – mainly banks – to make global funds transfers easy. The main features of the XRP are its stability, existing financial backers like big banks and scalability.
Then How is Nexty – NTY Different from Ripple – XRP?
However, the Ripple is primarily meant for Banks to do their funds transferring. In essence and usability, the economics of XRP aren’t meant for a conventional user base. Apart from this, the Ripple coin has a transfer fee attached. This implies that you’ll have to pay a transaction fee in order to move XRP tokens from one wallet to another. Also, the Ripple coins are non-mineable. These coins can only be created by the founders of the currency. Unlike the philosophy of virtual currency; XRPs aren’t offering decentralization or peer to peer ledger confirmations. This case is different for the NTY platform as the developers of this coin have hinted on mine-ability of the coin.
Apart from the differences mentioned above, the theoretical analysis of NTY and XRP suggests that XRP’s transactions almost take 3.3 seconds and can handle 1500 transactions/second. Whereas the NTY coin is not only faster by a second but also offers a scalability of 2000 transactions per second without any transaction fee.
The bottom line is that NTY is practically peer-to-peer and peer-to-business focused. The Fintech Eco-system of NTY not only offers seed funding but also comes with an ecommerce CMS integrate-able payment gateway. On the other hand, Ripple or XRP is an enterprise focused fund transferring mechanism. The main purpose of this coin is to help banks and financial institutions send funds globally in minimum time.