One of the "easy" criticisms of Nxt has been its lack of a whitepaper. The core devs have always argued that the source code is the whitepaper, but that's a little bit like saying "the whitepaper is in Aramaic": Java is a nice clean programming language, and the Nxt source code is very clean, but if you don't know Java you won't be able to follow the code.
The Nxt community has recently undertaken an effort to effectively "translate" Java into English. The result is the first version of the Nxt whitepaper, which is tied to the upcoming Nxt v1.2.2 release.
I'm posting a link to the whitepaper here because I want to get the word out. I did the editing on the whitepaper, so I understand Nxt VERY well and can answer questions. Feedback on the whitepaper is also welcome, since it (like Nxt) will continue to evolve.
You'll find the whitepaper here: http://www.nxtcommunity.org/nxt-whitepaper (or a direct PDF download from here: https://dl.dropboxusercontent.com/u/2948110/Nxt/NxtWhitepaper_v122_rev4.pdf)
EDIT/UPDATE: I am especially interested in whether or not there is interest in additional information on Nxt's resistance to attacks, and other "myths" like the "nothing at stake" attack. There is a great deal of misinformation about Proof of Stake, and about Nxt's algorithm in particular, and I am keen to correct the record. I can update the whitepaper to reflect this, with this community's help, or can create a blog post for LTB that specifically addresses this area.
