Nexus (NXS)

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Nexus (NXS) is a cryptocurrency made by Colin Cantrell during September 2014. It is a quantum-resistant, decentralized three-dimensional blockchain network that aims to take the decentralization of blockchains to the next level.

Through a Global Mesh Network, which will include low-earth satellites as nodes, the team over at Nexus aims to take their blockchain out of the reach of any government mining program or controlled mining pool monopolies, effectively increasing the distribution of the network. Their platform improves on speed, scalability, security, and accessibility of traditional blockchains through their 3D-blockchain infrastructure.

The 3D blockchain uses 3 different consensus mechanisms that are designed to improve on-chain scaling and reduce miner centralization. The 3D blockchain includes; a Prime Channel - which is a PoW channel, a Hashing Channel - a PoW channel which uses the HashCash algorithm, and a Proof-of-Holdings Channel - which is similar to Proof-of-Stake, where users earn NXS by locking their coins up to secure the network. Stakers are rewarded NXS depending on factors such as the interest rate, trust rate, block weight, and stake weight. These three channels are encouraged to work together as the mining rewards are issued through a reservoir system rather than a reward per block. This creates a system in which each blockchain in the system is not competing and therefore will not gather too much hashing power within the network.

Perhaps the most appealing aspect of the Nexus network is the upcoming Low-Orbit Satellites that are to be launched to act as a node within the distributed Global Mesh Network. The launch of these satellites will help to grant worldwide access to the Nexus network which is outside the influence of any government censorship.


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