Is NEXT Smart Chain a Layer 1 or Layer 2 solution?
NEXT is a full layer 1 solution which runs on its own blockchain and is 100% compatible with Ethereum’s Virtual Machine (EVM) to support all ERC20/BEP20 tokens and dApps.
Layer 1 solutions are standalone blockchain networks with high scalability and security.
Layer 2 solutions are sidechains that sit on top of a parent blockchain.
Can I become a validator?
Everyone can setup up a validator (by holding 25000 NEXT as collateral).
How fast is Next Smart Chain?
Compared with Ethereum, we can process up to 300k transactions per second as low as 0.01 cent (1/100 of a cent) in costs. We achieve these high speeds with validators, which validate each block in the network.
Do you have an inbuilt oracle?
Yes, with smart-contracts we can interact as on-chain API’s to query information.
Which wallet supports $NEXT
At the moment $NEXT runs directly with metamask.
What are the parameters for Metamask?
Just add a new network with the following parameters:
URL https://rpc.nextsmartchain.com ChainID 96 Symbol NEXT
Can I stake NEXT?
Yes, staking is possible from 1 NEXT. You can stake NEXT with any validator in the network. Stake with a lock-up to get a higher APY, or even without a lock is possible (so you can always take your NEXT easy-in or easy-out).
