NXT Announces Version 1.7.4! - Bitcoinist.net

NXT Announces Version 1.7.4!


NXT is one of Bitcoins biggest altcoin competitors, quickly growing to the mature and developed cryptocurrency it is today thanks to a dedicated community. NXT is now proud to announce their latest software version, 1.7.4, which will come online January 23rd.

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with NXT and is not responsible for its products and/or services.

1.7.4 will bring three main features, account control, Coinshuffle, and the NXT Data Cloud. Account Control will allow easy creation of multi-signature accounts for unparalleled security, NXTCoinshuffle will be used to obfuscate transaction details to deter people attempting to trail transactions, and the data cloud will be used for a secure file storage system that is agnostic to the type of media stored within it.

  • Create multi-signature accounts for ultimate security, using Account Control. Account Control allows transactions from an account to only be executed after they have been approved by a voting process, using the Nxt Voting System for enhanced multi-signature transactions.
  • Use the CoinShufflesystem to anonymise Nxt funds. Nxt is the first cryptocurrency platform to natively incorporate a decentralised mixing/CoinShuffle service on its own blockchain, allowing users the option to completely anonymise funds held in NXT.
  • Store, retrieve and publish files, documents, or arbitrary data on the blockchain using the data cloud. NXT Data Cloud will allow decentralized, censorship-free and tamper-proof publication and retrieval of small files, documents, or arbitrary data to the blockchain, with low costs/fees and options including automatic removal and encryption.

There were other features in 1.7.4, such as a 60s block time average, with “long block times now extremely unlikely”. Dynamic fees that are proportional to the relative transaction size is a thing as well, which is most likely linked to the 60s block time average as well. The links to download the updated clients can be found here.

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