Nxt Monetary System

Monetary System will allow you to create currencies backed by NXT. New coins are created by "locking" NXTs. This could be thought as similar to “burning” Nxt but this is inaccurate as the process can be reversed. If you destroy 7% of the supply the created coins then you get 7% of the locked NXTs back. You are unable to lock more NXTs into the coin once it is created so the supply can’t be inflated. Transaction fees for coins created in the Monetary System can only be paid in NXT.

Monetary System is under active development for Nxt Technology and will make possible the Coin Shuffling and Credit System features.