Assets
Something of value that can be moved between accounts
Asset An asset is something of value that can be moved between accounts. Assets can represent various financial instruments, such as currencies, cryptocurrencies, shares, or even custom-defined assets like loyalty points. Nxos supports the creation and management of custom asset types tailored to your specific business needs.
With Nxos, users can create an unlimited number of assets within a ledger. Assets are generally denominated in their smallest unit, and the unit size is defined by a parameter called “scale.” For example, the scale for USD would be 2, while for BHD (Bahraini Dinar) it would be 3, and for BTC (Bitcoin) it would be 8. This allows for precise representation and handling of asset quantities across different asset types.
The flexibility of Nxos allows for a wide range of assets to be defined and transferred between accounts. This includes traditional currencies, cryptocurrencies, shares, and any other item of value that needs to be tracked and exchanged within the system.
Using assets, you can even model things such as a credit-based system for a SaaS, as is currently often done by AI startups