Colin Cantrell's Weekly Development Recap provides the latest progress update on Nexus, including updates on mobile and desktop wallet betas, as well as the deployment of the 5.1/5.2 upgrade. Additionally, Colin discusses Nexus' initiative for exchange listings, upcoming plans after the upgrade, and other ongoing projects.

Exchange Listings:

The team is working on new exchange listings, with Bybit currently being a priority, along with other exchanges such as Gate.io, Kucoin, OKEx, and MEXC. In this context, Gaia Tomas and the Communication team are working on a "pitch deck" to introduce Nexus, in collaboration with a market maker, to potential exchanges.

To facilitate the listing of NXS on more exchanges, Colin emphasized the significance of community engagement. He encouraged the community to proactively promote Nexus on social media platforms, thus attracting new users and increasing its chances of being listed on new exchanges. Colin also mentioned the importance of working with decentralized exchanges, such as TradeOgre and said that he is in contact with Komodo to get Nexus set up on the atomic DEX.

Network Health:

The active node count on Nexus shows that the network is healthy. Currently, around 1,770 nodes are active, with 472 being online 24/7. The average contract volume is around 2,500 contracts per day, indicating good daily usage of the network. The vast majority of people are holding their coins in their own wallets, which is a sign of trust and belief in the project. Up to 87,000 Nexus have been deposited into stake trust accounts and locked off the market with about 200,000 deposited this month alone.

To show more of the network health, the aim is to integrate additional information of this kind in the block Explorer. A task undertaken by Interactions Arm.

System Metrics:

There are a total of 218,000 registers in the system, with 42 global names, 62,000 local names, 30 namespace names, and 15 namespaces. In addition, there are 93,356 accounts, 128 assets on chain, 31,041 crypto object registers, 52 tokenized assets, and 139 tokens. There are also 850 read-only state registers and 30,995 sigchains. 519 staking accounts have been active in the past three days, and the total amount of stake locked up is 36 million Nexus, a little bit under half the supply. The total number of trust is 9.7 billion seconds.

Bitcoin on Nexus:

The team is also working on an algorithm to allow Bitcoin storage in the Nexus wallet. Colin said that it would be possible to store the entropy for Bitcoin keys in the Sigchain of Nexus, allowing users to access both their Nexus and Bitcoin with the same login. The plans are to integrate this into the mobile wallet, and it is believed this will be a powerful feature and pave the way for decentralized exchanges, allowing for seamless trading between the two currencies. Overall, Nexus is dedicated to helping improve the industry and not necessarily trying to replace anything. ‘We've developed a lot of technology that can potentially help with some of the issues that others are facing’, Colin says.

5.1/5.2 Upgrade:

The Nexus team is making steady progress on the anticipated 5.1/5.2 upgrade. While recent commits have been lower than usual due to debugging and bug fixes, there's plenty of new code in the works, and exciting updates on the horizon.

The team has resolved the battery drain and high CPU usage issues in the Android mobile wallet. They're also developing a 'time remaining' feature to show the synchronization progress. The iOS mobile wallet still has some outstanding bugs related to framework issues that occur after coming out of the lock screen. Despite this, the team is on track to meet their goals.

Nexus 5.1 is set to be released on April 26th, followed by the hard fork 5.2 (potentially named 6.0). The mobile wallet release will follow the hard fork.

Next Steps:

After the upcoming upgrade is completed, the Nexus team will focus on developing a basic decentralized file hosting system, decentralized DNS record management, and a decentralized hosting environment. These efforts will facilitate wider adoption of Nexus by enabling users to store and access data in a decentralized way, without relying on centralized databases and search algorithms. With Nexus' structured query language on-chain, Colin believes that decentralized file hosting can become a reality.

In addition to these developments, the team is also looking to implement pooled staking, a file system with search functionality, and potentially a VPN. Colin also expressed interest in starting to work on augmented contract development. The team is open to conducting a poll on Twitter to prioritize which feature to work on next.

Meeting the Future:

Colin addressed how Nexus needs to develop to mitigate upcoming challenges. The team is currently working on creating a private organizational structure to shield Nexus from regulatory demands that may hinder its vision. This will maintain Nexus' principles while complying with laws and regulations, ensuring a sustainable framework for achieving a truly decentralized, secure, and unstoppable internet.

In this context, Colin mentions the potential risks and challenges associated with launching rockets and satellites via a company such as Phantom. The potential fallout from various parties who may feel threatened by the technology, such as opposition from regulators like the International Telecommunications Union, which could revoke the frequency license or launch capacity. Colin emphasizes that they are anticipating and preparing for such scenarios, and he is currently working on a demonstration to show how they plan to address these issues.

That's all for this recap.

See you next week!

Listen to the entire recap at https://twitter.com/i/spaces/1djGXlnedXdGZ

For more info on Nexus https://www.nexus.io