The developers of the Nexo Platform has recently announced that they have created a new cryptocurrency called Nexo Coin. It has recently been launched and has very similar characteristics to Ripple. One of the major similarities is that both are digital currencies based on the Ripple protocol. Like Ripple, it can be used to transact with other digital currencies. Unlike Ripple, however, the developers have created a “cloud” server-side solution which is meant to remove all the complexities that are associated with creating and operating these types of systems.
The developers of the Nexo Platform claim that their platform will be different because it will be the first platform to be built specifically for Ripple. There will be an additional fee for use of the platform and the developers hope that this fee will be passed onto users as a form of development costs. Many people wonder if this is true and there have been many suggestions that this fee is already being collected by the developers of the Nexo Platform. Even though it may not be clear yet, there are plenty of rumors that this fee is already being collected by the developers of the Nexo Platform.
There are plenty of users who have expressed their concerns about the Nexo Platform and many have expressed their doubts about the validity of the plans of the developers of the Nexo Platform to implement the Ripple protocol into their platform. Many have expressed their views on the web forums and many are asking if the developers of the Nexo Platform are really building the next decentralized application. However, the developers of the Nexo Platform are trying to present their platform as something that is not meant to replace Ripple. Instead, the developers are saying that their system can be used to help people avoid transaction fees.