Most Trusted Security
NXT Chain NXT Technologies is a better solution than the traditional permissionless blockchain architecture ETH, btc….etc.). NXT will create a Layer 1 permissioned network that is foundationally supported by the implementation of their flagship product, the NXTreme, which creates a global decentralized validator node ecosystem. The consensus mechanics behind NXTChain is Proof-of-Authority (PoA). It is important to note that real-world enterprise solutions require specific features that only permissioned blockchain networks such as NXTChain can provide. A few examples:
- Authentication, Authorization and Accounting Requirements (KYC): In contrast to the permissionless environment of Bitcoin and Ethereum, all participants in a permissioned network must be identified and tracked, with clearly defined roles. On NXTChain, the KYC and role is referred to as the Certificate of Authority (CA). CAs also ensure any dishonest on-chain activity because the user is held accountable.
- Accountability : On NXTChain, access permissions are assigned based on business role, and network members are known and identified by cryptographic membership keys. This is important because real-world enterprise must abide by specific standards and laws such as General Data Protection Regulation of 2018 (GDPR) and Health Insurance Portability and Accountability Act of 1996 (HIPAA).
- Privacy : While network participants are aware of each other, on NXTChain, only members who are required to have information about a specific transaction are notified about it.
- Flexibility: With the global node network of NXTremes, NXTChain is easily able to allocate nodes to specific projects and tailor the blockchain protocol rules to meet a client’s specific needs.