What is a Nexus Coin?
Nexus Coin is based on a multi-layered blockchain (multi-dimensional chain, MDC). The cryptocurrency was presented by Colin Cantrell at the conference on the Nexus Coin Cryptocurrency 2017 in Aspen, Colorado. Nexus Coin (NXS) is a cryptocurrency that lets you send more than money.
Decentralization alone is not enough for the project. Using software and hardware, Nexus Coin aims to create the foundation for the most decentralized systems to be developed in the future: the Nexus Earth. This network offers opportunities for everyone, for developed and developing countries alike.
Not everyone has money, but everyone has time. It’s time to decentralize everything. The foundations of the cryptocurrency should be based on the principles of decentralization. Nexus is focused on this mission.
Nexus Coin is an innovative cryptocurrency that uses its own algorithm and sophisticated infrastructure that differentiates it from Bitcoin and other first-generation cryptocurrencies. It uses a system of checks and balances to send coins: the transactions can be withdrawn if sent to the wrong address.
The mechanism of the PoS, i.e. the proof of the use, allows the users to earn 2% of their assigned coins. The maximum issue volume is 78 million coins.
The vision of the cryptocurrency
Nexus will provide a framework to increase the freedom, independence and creativity of all people in the world. A fully decentralized global network enables people to transmit values, data and services in a truly fair manner.
A digital currency called Nexus has been created to make this system easier. However, a system based on traditional terrestrial telecommunications networks is not in fact decentralized. Consequentially, the project is looking at the stars. The Nexus blockchain is fixed in space. Cube satellites will enable low-earth orbit access to the global network at acceptable conditions.
A liberation from the centralization
In conjunction with hardware devices on Earth, a globally distributed network will emerge. People will be able to use new peer-to-peer services on the network without the permission of a centralized authority.
This network should be built on a solid foundation. Over the past two years, many security improvements and innovations have been developed and implemented in the blockchain of cryptocurrencies.
These include 571-bit privacy keys to increase resistance to quantum attacks, multiple production/markup channels, dynamic complexity optimization, 1024-bit SHA3-based hashes, unified time, trusted keys, and more.
Nexus is more than just a technology. Nexus is the connection of people, economics, philosophy, ideas, computers and resources that will free humanity from centralization.
How Nexus Coin works
Nexus is a decentralized global network, spread across three security channels, enabling fast, secure and distributed transactions.
The consensus in the cryptocurrency is not limited to the voting of the Blockchain Staker or the Master node. Nexus Coin has three network levels that control each other and align with each other.
This means that a layer cannot become too powerful and jeopardize network security. Channels include Prime Channel (CPU Mining), Hashing Channel (GPU Mining) and the Nexus Proof of Stake (nPOS).
The reputation nodes (computers in a peer-to-peer network) and the corresponding trusted keys (addresses that receive interest payments) are determined by their sincere contribution to time, weight, and trust in the network.
These trusts are very valuable because it is very difficult to build trust. Currently, the interest rate is a variable rate that increases from 0.5% to 3% within a year, the longer you build trust in the network.
Nexus has the ability to check and balance the consensus, making network management more decentralized and more secure and stable on the network. Combined with the Quantum computer-stable private keys on the 571-bit encryption technology (much safer than Bitcoin), the trusted keys and the reputation, Nexus is the safest crypto-currency worldwide today.
Currently, a new data structure is being developed that will allow the blockchain network to be scaled to better compete and eventually replace the current systems of financial transactions.
This new data architecture will allow the cryptocurrency network to grow and adapt to the process of increasing the number of transactions required by the network. Currently, the network can handle 5000 transactions per second.
The cryptocurrency is building relationships in the aerospace industry, making the hardware infrastructure compatible with its transactional system. Nexus is laying the foundation for transferring blockchain and cryptocurrency into space.
Within the existing hardware infrastructure, the cryptocurrency is technically subordinate to the telecommunications and state technology industries. In combination with the development of software and hardware, it tries to liberate people from the centralized financial institutions.
Nexus is attempting to realize Satoshi’s dream of decentralization. It is continuing to work on improving the consensus protocol, using the Nexus network as a platform for these improvements.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.