Nexus

NXS
-1.28 % (24hr)

$ 0.2393834528

❝ Nexus is a decentralised peer-to-peer network platform that facilitates quick and secure transfer of values without intermediary or third party. ❞
Market Cap

$ 14.29M

Current Supply

$ 59.91M

Max Supply

$ NA

24hr Volume

271.6K

Proof

nPOS

website

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Introduction

Nexus is a connection or series of connection linking two more things either people, businesses or computers towards establishing a new decentralized form of governance in the field of finance, technology, service and sovereignty. Nexus aims to big transformation in the financial sector by allowing users to quickly and securely transfer value without an intermediary or third party. 

Nexus will incorporate three types of network that will work together to form the new telecommunication system and backbone of the system.

  • Mesh Network: A network of nodes in which each node relays data for the network and allows growth of ground-based networks to handle data exchanges in the localized area
  • Cube Satellites: Cube satellite network will overcome the problem with the line of sight and trans-continental communication. Will help in caching and relaying of data between ground-based mesh network.
  • Ground Stations: The ground stations will complete the whole communication process between the mesh network and cube satellite network and will be responsible ground-based caching and running of nexus software called Daemon.

How Nexus Works

Nexus works on three core principles i.e,  Efficient and scalable code, Enhanced security and Revolutionary hardware network. Blocks are created using three security channels of CPU mining, GPU mining and Nexus Proof-of-Stake thus preventing 51% attack on the network. In order to succeed with 51% attack, the attacker needs to have 51% control of all three channels and that is very huge and resource incentive. 

Nexus built their own specialised database from the ground up called Lower Level Database (LLD) that drastically improves transaction speed and scales organically to handle increasing rate of transactions. Using its telecommunication network of the mesh network, ground stations and lower earth orbiting satellite, Nexus provides a fully decentralized internet.

Key features

Quantum Resistant: Nexus comes with quantum computer attack-resistant features using large, one-time private keys and 1024-bit hashes against bitcoin 256-bit hashes to make it more secure.

Block Rewards: Unlike Bitcoin, where rewards to miners get halved every four years, thereby reducing Bitcoin's inflation but there is also a significant effect on the market. Nexus adjusts rewards with every block. Using equations for exponential decay, an amount is deposited to a reserve every minute and reserve determines the available reward for miners.

Block Validation: Nexus uses three ways to produces a new block and mint new coins. It uses two proof-of-work channels and one proof-of-holdings channel. The two PoW channels are the prime channel and hashing channel and prevent each other from producing too many blocks and also prevent 51% attacker into the system.

Trust: Trust is the main component of Nexus also known as the reputation system. Nodes which benefit the whole network by participating honestly in mining are considered more trustworthy. Trust is earned by holding Nexus in the wallet and producing valid blocks on a regular basis.

Founding Team

Colin Cantrell is the chief architect and founder and Kierre Reeg is the Executive Director of Nexus. Colin started off with building mining pools and protocols aimed at solving some real-world challenges of today and tomorrow. Later he started with Nexus, initially focusing on protecting people from scams originating from crypto space.

Key Links

Website: https://nexusearth.com/

White Paper: https://nexusearth.com/white-paper/