Nexus is a cross-chain network that increases the speed, scalability, security and accessibility of blockchain protocols. The project uses a quantum resistant 3D blockchain with communication satellites in space.
What is Nexus?
Nexus is a blockchain technology company that develops a decentralized P2P blockchain network and a cryptocurrency called NXS. It uses a blockchain ledger designed to be resilient against security threats created by the development of quantum computing. Nexus is also described as a P2P blockchain powered network with increased scalability, speed, security and accessibility.
Launched in 2014 under the name of Coinshield, the project was founded by Colin Cantrell. While the first implementations of the platform only included the main channel for consensus, “hash” and “holding” channels were added later.
1. Three Dimensional Chain (3DC)
Nexus uses not just one, but three consensus mechanisms to create a three-dimensional blockchain. The team believes that having a 3DC will reduce the amount of miner centralization and allow efficient scaling on the chain.
2. Prime Channel
Prime Channel is a Proof of Work channel. Miners look for dense master clusters of 308 digits on the blockchain through a trial-and-error process. Intensive main cluster mining is known to be more resistant to ASIC compared to traditional hash mining. This means that even if you only have a single CPU, you can easily mine on this channel.
3. Hashing Channel
The Hashing Channel is based on the Proof of Work consensus, but does not use dense mastersets. Rather, it uses the concept of hashcash, which is very similar to the algorithm used for Bitcoin mining. Bitcoin miners look for SHA-256 while miners look for SHA-3 hashes. Nexus’ block hashes are 4 times the size of Bitcoin’s block hashes.
4. Proof of Holdings
The third and final channel uses Proof of Holdings to secure a network. This is somewhat similar to the Proof of Stake consensus method used by various cryptocurrencies. In this, you can earn newly minted Nexus coins just by holding what you have.
When you deposit your coins, there will be four main features that will determine your return:
- Interest Rate: This refers to the rate at which you will buy new tokens based on an annual percentage of your balance. This usually starts at 0.5 percent per year and increases to a maximum of 3.0 percent annually after 12 months.
- Weight of Confidence: This indicates the trust of your node. It starts at 5 percent and quickly reaches its maximum 100 percent after a month.
- Block Weight: This resets to 0 percent each time you stake. It then gradually reaches 100 percent within 24 hours. If the blocking rate reaches 100 percent, your trust key will expire and all your features will be reset. Reset trigger keeps you working continuously to protect the network.
- Bet Weight: The value of the bet weight is roughly determined by the average of your block weight and your confidence weight. If this is high, you have a higher chance of getting a trade.
What is NXS Coin?
NXS coin is the native cryptocurrency of the Nexus project. The project served is designed for an innovative, open community with a basic link quality and vision of a shared world. Nexus coin has been working since September 23, 2014, without ICO or pre-mining.
Since it is a coin that has been in service since 2014, it is described as safe by some analysts. On the other hand, NXS coin entered a stagnant period after 2018. After Binance was listed, it became one of the popular coins.
The Nexus project, which wants to ensure everyone’s financial independence, creativity and freedom, aims to offer opportunities to the whole world.
Nexus Market Data
The cryptocurrency market is a rapidly changing market and its prices are highly dependent on supply and demand conditions. Since cryptocurrencies are decentralized, there are many factors that affect their prices. These factors include the coin’s popularity, use case, mining difficulty, transaction speed, and production costs.
Many sources are available to access Nexus market data. These resources include websites such as CoinMarketCap, CoinGecko, CoinCodex, and CryptoCompare. These websites show the current prices, volumes, market caps and exchanges of cryptocurrencies. In addition, these websites also provide historical price data of the NXS cryptocurrency so that users can monitor its price movements.
How Many Highs Has NXS Seen?
The highest price of the Nexus coin, namely the ATH level, was recorded as 13.75 USD on January 5, 2018.
The prices of crypto assets can change according to the supply-demand balance that occurs in the exchanges as they are traded on crypto currency exchanges. The price of a cryptocurrency traded on an exchange may vary depending on factors such as the trading volume of that exchange, the level of liquidity, the price of other crypto assets on the exchange, and the trading strategies of investors.
Other factors can also affect the price of crypto assets. For example, factors such as regulations, regulations, security vulnerabilities, usage areas of cryptocurrencies and general market expectations of investors can affect the price of crypto assets.
How Many Lows Has NXS Seen?
Nexus coin lowest price (ATL) was 0.0007 USD on May 27, 2015.
In the cryptocurrency world, “bottom” refers to the time period when the price of a particular cryptocurrency reaches its lowest level. The bottom is the pinnacle of a cryptocurrency’s depreciation and is a point that can prevent the price from falling further.
Because the cryptocurrency market is highly volatile, volatile price movements are quite common. While prices can reach high highs, low lows can also be seen. A bottom in the cryptocurrency market usually occurs due to a panic or selling wave in the market. Investors may start selling their holdings, worrying that the price of a cryptocurrency could drop further. In this case, supply increases and demand decreases, prices fall and may reach a bottom.
Which Exchange and How to Buy Nexus Coin?
Currently, Nexus coin can only be purchased on the Bittrex exchange. After creating an account on this exchange, users must log in and load funds into the wallet. For this, the balance can be loaded by bank transfer, as well as by debit or credit card. Then the desired amount of NXS coins can be purchased.
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