Nexus (NXS)

Cryptocurrency: Nexus (NXS)

Last updated 18/06/2021

What is Nexus (NXS)?

Nexus is a distributed framework and peer-to-peer network powered by a Digital Currency, NXS. The network focuses on delivering improvements to the Speed, Scalability, Security & Accessibility of blockchain protocols and technology. The project is developing a quantum-resistant, three-dimensional blockchain combined with a ground-based mesh network and a global communication network utilizing satellites in space. Its revolutionary approach to blockchain is ambitious but has enormous potential to change the way we interact with the internet and digital currencies.

The fundamental features of Nexus are shown below, there are many applications these fundamentals can create.

Below, you can see the solutions that Nexus can provide, expanding on its funadamental features.

Team

The Nexus team has a strong technical background and a proven track record in delivering software architecture. Colin Cantrell is the CEO and lead developer of Nexus since the project’s inception in September 2014. His expertise in quantum physics, advanced coding and decentralised peer-to-peer network forms a strong foundation that has driven the project forward. The remaining team is comprised of individuals highly experienced in software development and aerospace engineering to further support the Nexus project and its ambitious objectives.

Nexus has a long-standing partnership with Vector Space Systems which will be used to launch their satellite network. Jim Cantrell is the co-founder and CEO of Vector and is also Colin Cantrell’s father which emphasises the close ties between the two organisations. Nexus has a partnership with ‘SingularityNET’ to provide blockchain architecture for the projects decentralised AI network. Nexus is also planning to utilise LISP’s internet scaling platform to increase the efficiency and scalability of its own blockchain network.

Roadmap

Nexus outlines their plans for implementing their 3DC (3 Dimensional Chain) architecture through 4 major network updates; Tritium, Tritium++, Amine and Obsidian. You can find a detailed roadmap and its progress here.

Tritium - This initial stage implemented many milestones such as building the Trust System, Legacy Mode, Contract Layers, API/SDK, LISP andbuildingthe Nexus Interface and Wallet. These were all implemented by 26/06/2019.
Tritium++ - Tritium++ is still in progress and further improves the Nexus ecosystem where much more is being developed such as the Nexus Mobile Wallet, and the DAO (Decentralised Autonomous Organization) which will create an on-chain governance system to regulate funding proposlas through democratic vote. Nexus is also looking to introduce the DEX (Decentralised Exchange) along with Augmented Contracts and Hybrid Mode within this stage.
Amine - The Amine phase is still in its early days but looks to introduce many upgrades such as DAO Voting Groups, Domain Sepcific Languages, Network Data Sharding and even a Nexus App Store. These features will further improve the scalabilty and application of the Nexus network.
Obsidian - The Obsidian stage has just began in January 2021 and looks to further improve the Nexus ecosystem. Nexus wants to extend DAO Voting Groups, improve the Decentralised Mining Pool, extend Data Sharding and much more.

The three-dimensional design of the Nexus blockchain aims to provide significant improvements to existing blockchain models. The release of the 3DC will ensure greater decentralisation, enhanced security and improved efficiency and scalability as the network develops. You can find Nexus' detailed roadmap and its progress here.

Nexus Network Hardware & Infrastructure - Decentralised Consensus

Nexus uses three channels to secure and protect the network from attack; Prime Channel, Hashing Channel and Proof-of-Holdings.

Prime Channel is a Proof-of-Work consensus. Miners deployed use trial and error to search for a complex 308-digit prime cluster. This mining process is ASIC-resistant meaning anyone can contribute using a basic CPU and mine using this channel. This process also produces data that can be used to further prime number research for quantum physics and cryptography.
Hashing Channel is also a Proof-of-Work consensus using Hashcash. This is similar to Bitcoin mining algorithm SHA-256, except that miner’s search for SHA-3 and Nexus block hashes are 4x the size of Bitcoins. Anyone using a GPU can mine on this channel. (GPU link)
Proof-of-Holdings is used to secure the network and utilises a Proof-of-Stake consensus method similar to those used by coins like NEO. You earn newly minted Nexus (NXS) through ongoing holding and staking. Various attributes determine the return from staking including, interest rate, trust weight, block weight and Stake weight.

In order to achieve the project's vision for “Decentralising on Decentralisation”, Nexus runs a three-tiered global telecommunications network; Mesh Network, the Cube Satellites and Ground Stations.

Mesh Network - The mesh network provides access to anyone around the world running a node and participate in mining and maintaining the network. Through the mesh network nodes and miners join forces to solve complex computations together rather than than competing against each other. This cooperation serves to distribute network data fairly and provide equal rewards and opportunity for participation.
Satellite Network - Through a partnership with Vector Space System, Nexus aims be the first blockchain network operational in space and low earth orbit. Having developed its own satellites called CubeSats, these will be launched into orbit and used to store blockchain signature data operating as full nodes on the Nexus blockchain network. Nexus envisions it will have created its own constellation with thousands of CubeSat satellites in orbit by 2025. The satellite network once deployed will be used to provide a worldwide decentralised internet.
Ground Stations - Nexus ground stations connect the mesh networks to the satellite network in space. This uplink/downlink operation will help to scale and balance data transmission and maintain global network coverage.

Where to store Nexus

Nexus has produced an official wallet to hold NXS where you can find more information regarding this here. This is available on desktop devices running on Windows, Mac and Linux, as well as. You are only able to stake your coins and benefit from maintaining the network when they are in the official Nexus Wallet. You can find a Wallet Guide on the Nexus Wallet here.

Where to Buy and Sell Nexus (NXS)

You can Buy & Sell Nexus (NXS) here at BC Bitcoin. You can Buy NXS by heading over to the Buy Coins page of our website. NXS is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying NXS has never been easier, simply place your order and provide your wallet address. Once your payment arrives, NXS will be sent directly to your wallet.

If you choose to Sell Nexus (NXS), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page.

Nexus Resources

Website: https://nexus.io/

Wallet: https://crypto.nexus.io/wallet

Wallet Guide: https://crypto.nexus.io/tritium-guide

White Paper: https://tech.nexus.io/whitepapers

Blockchain Explorer: https://explorer.nexus.io/

Twitter: https://twitter.com/NexusOfficial

GitHub: https://github.com/Nexusoft/LLL-TAO

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.