The Nexus project makes the decentralization of the network and financial instruments for ordinary users a top priority for its development. The concept of decentralization is offered by most cryptocurrencies, however, within this platform, developers are striving to create a more global infrastructure, the functionality of which will not be limited to transactions alone.
Nexus project
The development of the Nexus platform was initiated back in 2014. Coinshield was created amid many fraudulent schemes with cryptocurrency projects. The main purpose of its creation was an attempt to clear the digital money market from dubious proposals, unite communities and integrate various ideas into one structure.
The project was re-branded in 2015, at the same time it was named Nexus. Initially, the functionality was based on the open-source Bitcoin code and the tasks of the developers included improving and adding those functions that would make the new cryptocurrency more in demand.
The development departed from the original goal of bringing different communities together but retained a similar concept. The development priority of Nexus is to create a decentralized base, based on which projects independent of any centers can be created in the future.
Developers are reviewing the entire system of functioning of cryptocurrencies and paying attention to their dependence on telecommunication networks. Under certain conditions, such decentralization is vulnerable. To exclude it, the developers are transferring their blockchain to low-earth orbit.
It is planned to use a small-sized satellite CubeSat as the basis for the Nexus network functionality. This option allows you to create a truly decentralized system, the functionality of which will allow the development of new digital platforms and projects.
As conceived by the developers within such a network, transactions and transfers will be only a small fraction of the possibilities. In the long term, Nexus can become a link between different ideas and ideologies, philosophies, economies, people, and states.
Cryptocurrency Nexus
An attempt to improve and refine some of the properties of bitcoin made the Nexus cryptocurrency (NXS) unique and to a certain extent exceptional. This principle deals with several technical aspects aimed at increasing the decentralization and security of the network.
NXS cryptocurrency uses a three-layer structure of consensus building:
- Prime Channel, which means mining on the central processor;
- Hashing Channel – GPU mining;
- Proof of Stake – Proof of Stake based on reputation and trust in the node.
The functioning of all three channels is based on maintaining a balance and the impossibility of one of them gaining priority or greater influence in the network. This relationship provides the highest quality form of consensus-building on transaction confirmation.
A distinctive feature of the Nexus cryptocurrency is also a system of checks and confirmations, as a result of which the user can return a transaction sent to the wrong address. This technology can be considered revolutionary given that the irreversibility of transfers is considered one of the disadvantages of cryptocurrencies.
The innovative approach of the developers also touched on the security of the blockchain, especially before quantum attacks. It uses 571-bit keys to increase resistance to such threats, making the Nexus platform one of the safest to use.
Development prospects
Analysts highlight the significant potential of the Nexus project, which makes it not just another cryptocurrency, but a holistic, future-oriented technology. The prospects for the development of such a platform look promising, which is confirmed by several factors.
Work on the project has been going on for a long time, during which the Nexus developers have shown significant results in creating a fast, secure, and decentralized cryptocurrency. Its functionality already allows it to successfully compete with much well-known digital money, but the developers do not stop there.
The nearest plans include working on scaling the network and creating a stable base for any load. At the moment, the Nexus system is capable of processing up to 5 thousand transactions simultaneously. An increase in this indicator will make the cryptocurrency in demand for widespread use.
The developers do not draw up specific plans for further development. This decision is due to a reluctance to create opportunities for speculation based on certain events. Development priorities appear to be general development prospects.
These Nexus improvement plans include making the blockchain more operational – ensuring scalability and improving quantum resistance, as well as dividing it into specific sections. Development priorities also include expanding the functionality of the created contracts.
It is planned to create mobile wallets for iOS and Android, as well as develop a modular interface for users. Such steps will improve the usability of the Nexus and the relevance of its cryptocurrency.
Taking into account the factors presented, many analysts highlight the prospects for investing in this project. We consider mainly long-term investments focused on the overall development of the platform. The Nexus cryptocurrency in this regard shows a steady upward trend, gradually increasing in turnover as new technologies are developed and integrated into the system.
