Nexus – Hope for Internet
Nexus – crypto in space
Nexus (NXS) is a decentralized, open-source (open-source) payment network, based on blockchain technology, with its own native NXS cryptocurrency. However, NXS is one of the first cryptocurrencies to have a hybrid network consensus algorithm – Proof of Work and Proof of Stake. If you are interesting how to buy nexus coin – there is tutorial at the bottom of page.
Source code of Nexus was based on Peercoin (PPC), which was created from a modified bitcoin code (BTC). The creators of Nexus had aspirations to create a cryptocurrency providing the highest level of security. Which is obtain, among others thanks to the use of 571-bit private keys and the hybrid cryptographic algorithm (hash function) Skein-Keccak, having the 1024-bit format (in BTC the hash function is SHA256, having 256 bits). This ensures, among others protection against potential threat from quantum computers.
The most recognizable idea of Nexus developers is to create a satellite network in cooperation with Vector Space Systems. Therefore, Satellites, located in low Earth orbit are to act as nodes in the Nexus network. They ensure its full decentralization and resistance to potential attacks, as well as enabling access to networks in regions where no the internet works. Nexus has been testing its idea since 2018 by renting satellites from Galactic Sky. In 2020, the first Nexus satellites should be launch into space. Approximately 300 satellites are needed to cover the entire globe. In addition, a special set consisting of a receiver and an antena is necessary to receive a radio signal. According to the roadmap, this is a goal by 2025.
Nexus Coin – PoS and PoW
As mentioned earlier, Nexus has implemented a unique hybrid PoW / PoS consensus algorithm, along with the so-called three-dimensional chain. The first layer of the chain is responsible for operations that can be perform by ordinary processors on computers with Windows, while the third requires the use of GPUs, due to the use of the Skein-Keccak hash algorithm.
Secondly, stacking, which is included in the second layer of the chain, is available to all NXS owners, from the level of the Nexus Wallet portfolio. The rate of return on stacking is variable and depends on the “age” of frozen funds – initially it is 0.5%, after a quarter it reaches 2%, and after 12 months to 3%. In addition, the trust weight is an important factor, determining how many nodes in the network define our stacking node as reliable. Initially it is 5% and after a month it increases to 100%. However, there is no lower limit for stacking.
How to buy Nexus coin
Finally, you should know what Nexus coin is and what goals team behind this project has. If you wanna know how to buy Nexus Coin – click button below and read our tutorial. Start your crypto journey with us and buy your first Nexus (NXS).