What Is Nexus (NXS)?

Nexus is the next-generation blockchain technology that claims to rebuild the internet from scratch. The aim of Nexus is to build a scalable, and quantum-resistant blockchain with uncensorable and free internet. Nexus claims to do this through a hack-resistant operating system. The quantum-resistant platform also aims to solve the bandwidth and scalability congestion present on the blockchain. This enables virtualizing access to the desktop and digital content from any computer in the world. 

Further, Nexus aims to empower every human being with technology to recover their digital identity through an end-to-end decentralized platform. The Nexus Protocol creates decentralized and reputation-driven routing services at both hardware and software, which provides an alternative to Internet Service Providers (ISPs). The protocol is driven by a security-focused operating system (Lx-OS) that makes it resistant to most known operating system level exploits.

At times, the internet fails to maintain both security and openness simultaneously. To improve this, Nexus claims to have designed ONE (Open Nexus Execution) stack that supports online services and verifies information sources through authenticated reputation.The architecture of Nexus is built by a seven-layered software stack operating as a 64-bit register-based process virtual machine. Each layer of this architecture carries out a process independently, offering additional functionality to the existing Internet stack.

NXS is the native token of Nexus platform. NXS can be staked inside Nexus desktop wallet with staking enabled and a continuous internet connection. Staking enables an efficient form of mining to provide security to the Nexus blockchain. Users are rewarded with NXS at a stake rate of 0.5 percent to 3.0 percent per year on the staked holdings. Staking can be done at any amount, and to reach the maximum stake rewards rate, the user’s node must find a Proof of Stake block at least every 72 hours. 

Further, as per the whitepaper, to mint new NXS currency and produce valid blocks, Nexus operates three channels-two Proof-of-Work channels and one Proof-of-Stake channel. Minting is the process in blockchain to validate information, create a new block and record this information into the blockchain.

Tritium Trust introduced the Tritium protocol on the Nexus network. After this release, the trust and Proof-of-Stake systems were revised and enhanced. Tritium Trust introduced staking concepts created in previous staking systems, improved them, and added new concepts that enhanced performance and security for Proof-of-Stake.

History Of Nexus (NXS)

Nexus was launched in 2014. The developers of Nexus include Colin Cantrell, Kendal Cormany, and Ajion having a lot of experience in blockchain and related technologies. The whitepaper 

“Nexus Proof-of-Stake with Tritium Trust” was released on October 12, 2018.