NEXT.exchange and its backbone: NEXT.chain
With NEXT.exchange, you can trade your cryptocurrencies of choice with ease. NEXT provides a low-entry barrier ecosystem for everyone to buy and sell their digital assets on. Uniquely, NEXT.exchange comes with its own token: NEXT. With NEXT, users can enhance their trading experience by taking advantage of the utility provided by the token. For example, a minimal stake of NEXT (100 tokens) unlocks the platforms fiat ramp. This allows users to trade their digital assets against fiat currencies such as the USD and EUR. A great feature which sets NEXT.exchange apart from many new wave exchanges.
Furthermore, the standard fee for any trade on the platform is currently set at a low 0.50%. Holding NEXT lowers this fee by half. Part of the platform fees collected from trading and fiat withdrawals are distributed amongst eligible NEXT holders.
On top of the selection of features mentioned above, there’s more. Let’s have a closer look.
NEXT.chain
NEXT.chain, the platforms own Blockchain is currently in testnet and combines the security and efficiency of Proof-of-Work and Proof-of-Stake. As a NEXT holder, you gain access to a wide variety of benefits of both centralized and decentralized exchange features.
The developer team has been ramping up the development of the NEXT ecosystem in preparation for the much-anticipated v1.1 update (ETA end of April) to the trading platform and interest in NEXT has significantly grown, which is evident based on its recent price and volume increase.
With lots of exciting new features awaiting traders, the cryptomarket will soon be presented with the powerful backbone of the ecosystem: NEXT.chain.
Asset deployment
Through NEXT.chain, crypto-businesses, entrepreneurs, and developers can now launch an Initial Exchange Offering (IEO). This enables them to get started with their own digital assets with ease and allows these parties to reach an already existing user base that can immediately start trading the asset on NEXT.exchange — similar to Ethereum and its ERC20 tokens. Uniquely, as opposed to already existing platforms, IEOs on NEXT take place in an efficient and secure manner due to being powered by the soon to be released NEXT.chain. Registered in The Netherlands as a B.V. (private limited company), and regulatory compliance is a major value — with NEXT.exchange everyone can deploy, manage, and trade their assets of choice in a secure and transparent manner.
Masternodes
NEXT.chain utilizes Masternodes as an integral part of its ecosystem. NEXT Masternodes help secure and maintain NEXT.chain while also validating (instant) transactions, enabling continuous operability in a decentralized fashion. Moreover, NEXT Masternodes allow for fast transactions on a high capacity network. Along with its hybrid mechanism comprised of Proof-of-Work and Proof-of-Stake, NEXT.chain achieves a reliable and secure, yet fast and cost-efficient network.
Masternodes are a deeply-embedded core mechanism of the hybrid exchange. To further encourage decentralization in a secure manner, NEXT Masternodes go along with an incentive model.
Required collateral for a NEXT masternode:
25,000 NEXT
Requiring an initial and one-time collateral of 25,000 NEXT, Masternode operators are incentivized to keep the ecosystem secure and stable. Whereas many Masternode bonded token models manage different reward models, NEXT.exchange grants its masternode operators a passive income, distributed via fixed monthly payments in NEXT. Meanwhile, exclusive voting rights and prioritized support are extra perks to leverage one’s position within NEXT’s ecosystem. Ultimately, Masternode operators will be part of NEXT.exchange’s decentralized governance, granting them exclusive voting rights to participate in decision-making regarding NEXT’s exciting future.
Given the current circulating supply of NEXT, it’s projected that a small amount of Masternodes will accompany the Network from the start. A network of 40–60 masternodes is calculated to be enough upon the inception of main-net. In accordance with stringent laws and regulations, any node operator is required to pass Know Your Customer (KYC) procedures, further strengthening the legitimacy of the NEXT ecosystem.
NEXT Wallet.
The NEXT wallet is a multilingual wallet and at this moment supports 16 languages. More languages can be added with ease as the network scales up over time.
Mining
Aside from running a NEXT masternode, one can also contribute to the safety of NEXT.chain and receive a daily reward by mining NEXT tokens. Even Bitcoin miners are able to simultaneously mine NEXT — this is commonly known as merge-mining. This takes place at no additional costs. Naturally, mining requires computational power. NEXT also provides pooled mining.
Pool mining
Pool mining is an additional service provided by NEXT. With this type of mining, any eligible individual can partake in a mining collective. In contrast to CPU mining, pool mining is a cloud mining service. To participate in NEXT cloud mining, one is required to pay a monthly fee. This fee can be paid in either NEXT or fiat (Euro). The developer team has constructed the mining package to provide any participant with a complete toolbox and Dashboard to manage and track their mining status. Features to be on the lookout for include powerful mining (with a fixed hashrate of 10 GH/s), auto payout, email notifications and many more. In our effort to make NEXT as accessible as possible, our developer team provides priority support services for continuous assistance.
Manage your digital assets with ease
With NEXT.chain, you can now send and receive your digital assets with ease. The development team has built a solution that allows users to manage their assets in a unique manner through Custom Short Addresses (CSA). Rather than a string of seemingly random characters, through CSA your address can be anything you wish. You can now assign a name of choice that will then correspond with your unique wallet.
Content produced as part of the NEXT Ambassador program.