Last Updated on 25th July 2022 by gursheen
Nexus is a vibrant and creative community with a passion to decentralise the world. established in 2014 Nexus is aiming to solve what Bitcoin was meant to do and even more. Nexus wants to build real transparency and meritocracy. It is a next-generation blockchain technology that is re-building the internet from the ground.
Sounds interesting, isn’t it?
Want to know what all new things Nexus is coming up with?? Recently Digital Gurukul had a short but insightful interview with Nexus Blockchain. We would like to share how Nexus is aiming to grow the nation with the help of its technology.
Below are a few questions for the Masters Series Interview for Nexus by Digital Gurukul–
Q1: Can you tell us about NEXUS? What problems do you solve, both in the space and for the community?
Nexus from its beginning (2014) is aiming to solve what Bitcoin was meant to do and much more, like the quest for decentralizing everything, building real transparency, and meritocracy by means of a community DAO that is focused on helping each other instead of competing between humans, searching for reciprocity and a community-driven project. By this social Sinergy coming from the best part of nature, like Phibonacci auric proportions, Nexus follows the network effect and aims to provide positive feedback with each node using Metcalfe’s law[i]. Scalability and Quantum resistance configure the rest of the trilemma resolved. But watch as Falcon, our postQuantum algorithm was awarded because of his strength.
Q2: Could you briefly describe the milestones NEXUS has achieved, and your upcoming plans?
Since the beginning of Nexus development (adding the fact that we are a product without the end, framed also by our own effort with no ICO or VCs) the roadmap was a guide in the darkness of the new worlds represented by the new crypto verse phenomena, challenging the unknown, and now getting results and the formation of a vibrant community, really diverse and worldwide. We work as a decentralized organization, one of the most interesting new worlds as a result of this quest. On the way until today, towards 5.1 the mayor UpDate in years, Nexus has achieved the following milestones:
Nexus is in development yet our TAO framework encompasses Tritium, Amine, And Obsidian, tritium is almost done, for more details you can look at our roadmap[ii].
-Unique non-UTXO system (signature Chains), enabling any user to independence to walle.dat files and ubiquitous multiplatform access to your personal “wallet” on any platform.
-Decentralized mobile and desktop wallets that don’t depend on any central node or authority, making them one of the few truly decentralized DAPPs.
-LLD aka Low-level database, is the first database designed for blockchains, achieving constant time, fastest speeds, and no bottlenecks.
-Quantum proof security
-Our expected upgrade 5.1 will increase these milestones to the following:
1. Query DSL
2. Contract Templates
3. Templated API
4. Object Modelling
5. Dynamic Indexing Services
6. Register API, Sessions API, and Profiles API
7. Complete API overhaul performance is multiple faster
8. Operators such as sum, sdev, array, etc.
9. Recursive sorting and Filtering
10. Data modeling such as a unique, array, etc.
11. Safe mode for key generation security
12. Client mode for the mobile wallet.
Q3: What is your strongest advantage that you think will make your team lead the market?
Advantages can only be guessed after the results because we were able to analyze what makes us different from the rest. At this moment what we have are strategic knowledge and a sound work plan. The complexity of life and the disturbances coming from Crypto Space, just make us a little bit slower, but never stopped Us.
We took many years to build a solid blockchain, our metrics, APIs, and technology have been proved and audited, we build, and after that we deliver, we have never shilled our project by means of bombastic promises or ICOs. We firmly believe in and practice working under evidence and tested results.
Our promise is that the technology we provide is open source, simple and powerful, these characteristics will make Nexus adoption easy, we are moving towards the academic world to create scientific solutions to several use cases on the pipelines, such as P2P Local markets, Food security, urban regeneration and DAG (Decentralized Autonomous Governance).
We took the long road, but we are confident that having solid foundations will make us a name associated with excellence, and that foundations came from the results of usability and the adoption with no avoidable mistakes.
Q4: Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relationships?
We have been advancing at a good pace regarding partners and projects, our partners are global and share a similar vision;
Coinstore and Fintech and Blockchain Association (FAB) are working with us in the academic/education world, helping to reach developing countries to teach about blockchain usability and solutions for real-world problems.
EST Global and FAB are partners that have entrusted us with the revolutionary development of new unprecedented solutions for neo banking and fintech, Agroecological adaptation to the current and future climate conditions.
-Finish upgrades 5.1, 5.2 and 6.0
-Deliver the stable release of the mobile wallet
-Help people to use our new P2P marketplace API so they can set their own to solve market monopoly, the man in the middle & supply chain bureaucracy.
Next year we are aiming to finish Amine to increase the usability of the DAO, Pooled Staking, and set in stone Nexus as the most efficient blockchain out there.
Q6: Smart contracts are susceptible to failure and many projects fall victim to this, costing users money and the project discrediting. How reliable and secure is your NEXUS blockchain? Have you tested it through any of the parties?
Nexus is one of the most secure networks and blockchains, using quantum-proof algorithms to limit the chances of key hackings, spamming and with a vision based on trust, each node has a level of trust that is increased in time and availability (POS) and proof of work with the different mining channels.
We have been audited[iii] by an independent firm (ISE) and our code is hardened by many hours of testing and attacks.
Q.7: What is the role of tokens in the ecosystem? Where can people currently buy it? For what it will be used?
People can create tokens for some NXS, the number of tokens and level of decimals will define the final cost of it (There is a 1 NXS token creation fee, based on supply), for example, a token with a supply of 1.000.000 and 6 decimal is around 1000 NXS.
With our strategic partnership with Coinstore, tokens may be offered inside Coinstore if the project has passed all the due diligence.
Regarding our coin NXS, you can get it in Binance, Bittrex, and Coinstore, also in several swapping services.
Q.8: Can you list 1-3 killer features of Your Project that make it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
-Quantum resistant
-No code compatible (everyone can make an app with Nexus plugin + APIs)
-Nexus Protocol[iv] aims to empower and decentralize the internet
Q.9: The vast majority of Crypto projects are built just for the sole purpose of amassing wealth for themselves. So, I want to know the value you aim to add to the crypto industry that will bring greater abundance to the industry?
-Nexus never did an ICO nor premine, we were built from the ground up, Nexus is far from wealthy we have a very strict protocol of no shilling, and we focus on the tech and how to implement this in real-life problems, we aim to achieve adoption in the long term, in which using Nexus would be as natural as using the internet or electricity.
Following that vision Nexus would steadily grow organically instead of being backed by empty promises or shilling, which is the purpose of the majority of crypto.
Q.10: Revenue is an important aspect for all projects to survive and sustain. So how does your project plan to generate profit and revenue?
We generate funds each month thanks to our economic model that is designed to produce an annual growth rate in the total supply of an NXS that is similar to that of gold. Gold is an asset that has often been favored in times of economic crisis as a hedge against inflation due to its inherent scarcity.
Each month the voted allocation is distributed among the different branches following a DAO, the price of NXS does impact the monthly budget, yet still, it helps to maintain the bare minimum to survive a crypto winter.
[i] The value of a network is proportional to the square of the number of users of the system (n²)
[iii] https://nexus.io/security-audit
[iv] https://nexus.io/files/nexus_protocol/Nexus_Protocol_1.0.0.pdf
