1. NABT Overview

NABIT is a cryptocurrency token that plays a crucial role in the smart city ecosystem developed by NABIT. It allows users to carry out various activities and transactions and is interchangeable with other companies' cryptocurrencies. Additionally, it can be used publicly as an alternative means of payment. Currently, NABIT is available for trading on LINX, an exchange platform operated by the headquarters. Holders can trade it on the open market as soon as it is listed.

2. Issuer

NABIT is an exchange token issued by LINX, a cryptocurrency exchange based in Liechtenstein. LINX will be opening in April 2024 and is expected to become a trusted and secure exchange platform. It has already been approved by the authorities of Liechtenstein, a leading country in the field of blockchain technology, as well as the EU's new blockchain regulations that came into effect in December 2023.

 

 

3. Function and features

NABIT is a cryptocurrency that is issued on the Clayton blockchain using the KIP-7 standard algorithm. This algorithm makes it compatible with other cryptocurrencies, including Ethereum, and allows for an economically expanded network. NABIT aims to promote transparency, fairness, and safety in the smart city industry by securing personal information through centralization while still maintaining decentralization in the mainnet system. This unique approach provides a friendly environment for developers, offering infinite possibilities for various infrastructures or dApps in smart cities. The supply of NABIT, a key currency used in smart cities built on the Klaytn on-chain, is limited. NABIT can be easily exchanged with Klaytn, Ethereum, and KIP-7 standard tokens produced by Smart Contracts. 

 

 

4. Mining method

Proof-of-Work and Proof-of-Stake blockchains exhibit probabilistic finality, which means there is a tiny chance that a transaction recorded on the chain can get reversed. This makes these blockchains unsuitable for mission-critical applications, especially if used at scale. Klaytn’s IBFT consensus algorithm guarantees that data recorded on the blockchain is correct and will never be reversed, in order to deliver the reliability and data consistency needed for large-scale applications.