Nimiq is a browser-based blockchain that enables genuine peer-to-peer communication by utilizing web technologies like JavaScript, WebAssembly, and IndexedDB. Nimiq nodes, in contrast to other blockchains like Bitcoin or Ethereum, may be safely run on any browser by any user at incredibly low energy costs, enabling middlemen-free transactions. The $NIM coin, used in the Nimiq payment system, serves as a medium of exchange for blockchain transactions. Through Nimiq’s online wallet, NIM tokens can be simply purchased, sent, received, and traded.
Utilization history
As a browser-based, open-source alternative to Bitcoin, Nimiq was introduced in 2017. Throughout the ICO, it raised more than $10 million. Along with the debut of Nimiq wallets in 2018, the NIM token was also introduced. Development on the platform is greatly encouraged because the project is open-source and all of its source code is available on GitHub.
Integrations with contemporary browser technology are common in many of the common use cases.
Online payments
Nimiq offers API connectivity and plugins to make transactions easier. When making a purchase, you can simply link to your Nimiq wallet and pay with NIM rather than having to write in your card number each time.
Donations
You probably already know that on Twitch, Reddit, and YouTube, you can tip streamers with Bits, Reddit Gold, or regular US dollars. You can easily enable users to support creators through their browsers by using Nimiq and the NIM token, which will streamline the process.
Rewards
Nimiq users can send cash using links and QR codes, making the rewards process simple. Additionally, there are games like Nimtris that connect to your wallet and pay you in NIM as a reward for playing the game.
Nimiq 2.0 – proof of stake development
In early 2020, the Nimiq team announced plans for Nimiq 2.0, marking a shift from Proof-of-Work to Proof-of-Stake. This version brings faster transactions, NIM staking, and an energy-efficient Proof-of-Stake algorithm, Albatross, set to debut on the Aurora Testnet.
Community and social media
People from all over the world use Nimiq. The community is a fantastic place to socialize and discover the platform. It’s a fantastic environment to learn about cutting-edge web technologies and contribute to the current blockchain projects, with over 100 active developers. The training and technical updates on Nimiq’s YouTube channel are quite useful. This link will take you to every one of their social media accounts, including the official Discord server and Subreddit.
NIM token
The structure of the NIM Token is comparable to that of Bitcoin. Each token can be split into 100,000 Lunas (NIM’s equivalent of the Satoshi), with a total quantity of 21 billion. Incredibly, the general population has access to 88% of the accessible supply of NIM. Approximately 42% of the entire supply of NIM is in circulation as of November 18th, 2021. This percentage will significantly increase soon with the addition of the Albatross Proof-of-Stake algorithm.
Nimiq foundation
To raise money for projects with significant social and ecological impact, 2% of the total supply of Nimiq was set aside for a special project when it first launched. Only a twentieth of this money may be released every six months, and they must remain locked up for ten years. The foundation’s donations to charity increase together with the project’s market value. This increases the team’s motivation to advance the platform so that this foundation can have a profoundly positive influence on the globe.
Nimiq oasis
The capability to purchase NIM straight from your bank account is one of Nimiq’s extremely special features. Oasis, or Open Asset Swap Interaction Scheme, enables mimicking Nimiq Blockchain assets like USD, EUR, or web domains in off-chain form. By eliminating the intermediary once again, this crypto makes interacting with the platform even simpler. Most cryptocurrencies need you to use an exchange to purchase their tokens using your bank account. Oasis is in its early stages, currently supporting European bank linking. This capability is expected to expand to various national banks.
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