Nimiq

Overview of Nimiq

Nimiq 2.0 Supply Curve Voting: In preparation for Nimiq 2.0, and based on the numerous requests from the community to review this matter, we followed a careful process that started by sharing our thoughts and suggestions on making adjustments to the coin supply curve for the switch to Proof-of-Stake (PoS) with Nimiq 2.0.

Nimiq, a blockchain application ecosystem, has announced the launch of the Nimiq Incubator, an effort that aims to connect developers with community members that bring interesting skills to the table like providing ideas, managing projects, designing, marketing, and more.

Nimiq’s solution also allows for the processing of transfers without a single, centralized intermediary (like a payment processor) controlling the two assets being exchanged, and without needing to entrust the private keys of the cryptocurrency asset to a third party.

Nimiq-4 was launched on 19 September 2008, by a Proton-M / Briz M rocket from Baikonur Cosmodrome in Kazakhstan.[3] It will replace Nimiq-4i, and will provide advanced services which include HDTV, specialty channels and foreign language programming.

Nimiq defines itself as a “frictionless peer-to-peer (P2P) payment protocol for the World Wide Web.” it’s a next generation Blockchain protocol combining elements of Bitcoin and Ethereum, streamlined for the web platform.

Nimiq essentially makes your browser a node in the NIM blockchain network; anyone who uses browsers which include Safari, Chrome, Firefox, Brave, Opera, and so on can run a Nimiq node easily without prior technical knowledge.

Nimiq 1 and 2, high power Ku/Ka-band satellites, feature 32 active 24 MHz Ku-band
transponders with 120 Watt power amplifiers, and Nimiq 2 also has a Ka-band payload that
will provide broadband services.

Nimiq’s acquisition of a stake in WEG Bank is also a big statement of intent and helps validate that the project is attempting to create the crypto-to-fiat bridge promised, rather than just promising vapourware.

Nimiq OASIS could empower retail banking customers at SEPA instant enabled banks, with a fast and easy way to buy or sell cryptocurrency for fiat and address a key pain point for wider crypto adoption.

Nimiq has a relatively small Twitter audience of 9,763 (though this is larger than a few projects of greater Network Value from previous reports), which places it around the middle of the table.

Blockchain

Over the past week, there has been near 24/7 discussion in the group, with several hundred members online and conversing.A lot of the recent discussion does revolve around price, which is understandable given the decline Nimiq has experienced over the past few weeks; however, this is coupled with genuine interest in the future of the project, as well as community-led proposals and suggestions.One of the more interesting points of discussion is that many expect Nimiq’s adoption rate will increase as Nimiq OASIS facilitates greater and more seamless merchant adoption, with NIM-to-fiat conversions being streamlined.There is palpable concern over the marketing efforts of the team, with the general consensus being that despite the user-friendly nature of the blockchain and the Nimiq Safe, there simply aren’t enough eyes on the project for any reversal to occur in the price of the token, particularly whilst inflation is so steep.I am inclined to agree.

Mine

The website is responsive and fairly well-branded, with good UI/UX.The design is very sleek and clean, as would be expected of the browser-based blockchain.The tagline reads “The blockchain designed for simplicity”.The whole layout is comprised of several clearly-defined tabs, each containing links to the Nimiq Safe; a number of team and community-built apps; the whitepaper; Github; developer center; Nimiq Miner; social links; a blog; the Nimiq Community website; exchanges; and further information on the project, from token details to team information.

Network

Moving onto volume, I found that Nimiq had traded $423,069 of Exchange Volume over the past 24 hours, equating to a whopping 10.31% of its Network Value, whilst its Average Exchange Volume for the past 30 days surpassed this at $744,982, equating to 12.99% of its Average Network Value for the same period.At the surface level, one would be forgiven for thinking this is indicative of significant interest in the coin at current prices; however, the vast majority of this volume is coming from Hotbit, which itself is largely comprised of wash-trading.Thus, such figures are largely unreliable.If we discount Hotbit volume, around 8% of the volume remains, which would put Average Exchange Volume at around $59,598; a much more modest 1.03% of Average Network Value.This places Nimiq 5th-from-bottom amongst altcoins in previous reports.

Support

These funds are vesting for ten years and the idea is that as the value of NIM grows, Nimiq’s charitable foundation will be empowered to support numerous great causes and initiatives.

Transactions

Like Bitcoin and Ethereum, Nimiq currently uses a proof-of-work algorithm to secure transactions and NIM is the native currency used on the Nimiq blockchain for payments and as a reward incentive for mining.

Are You a Wallet, Exchange or News Site?

We have over a dozen integration partners already working on integrating the new Commerce SDK to enable their users to spend directly from their platform.If you would like to encourage authentic adoption of cryptocurrency and earn money for purchases made by your users, partner with us.

Are You an Innovative Business?

With Bidali you can offer cutting edge payment options, gift cards, and flexible incentive programs to customers all over the world.Using blockchain technology and artificial intelligence we eliminate fraud and high fees, reduce compliance costs and accounting headaches, while enabling businesses to reach customers all over the world.

Can you tell us more about Nimiq’s unique approach to Atomic Swaps?

Nimiq found a way to execute Atomic Swaps with FIAT currencies with a new invention we call Nimiq OASIS.OASIS enables atomic swaps between crypto assets and traditional off-chain assets.The cool thing is that it achieves this *without ever touching any crypto*, in fact, OASIS is completely crypto-agnostic.It works by providing an HTLC for off-chain assets e.g.EUR, USD or stocks, which serves as a bridge between the crypto space and the off-chain world, enabling a whole new level of decentralization when it comes to fiat/crypto conversions.

How Does Nimiq Work?

It’s incredibly simple – everything is done via the browser.You simply go to the Nimiq homepage, and within minutes you can create an account that will allow you to send or receive your first NIM payments.Alternatively, you can start browser mining as detailed below.

How is Nimiq different from other crypto-currencies?

Nimiq defines itself as a “frictionless peer-to-peer (P2P) payment protocol for the World Wide Web.” It is a next generation Blockchain protocol combining elements of Bitcoin and Ethereum, streamlined for the web platform.It is open source and fully decentralized.Its core values that distinguish it from other crypto-currencies are ease-of-use, scalability, and speed.

How Is the Nimiq Network Secured?

Nimiq is a decentralized network whose nodes are distributed across the globe.Network login data can be stored on the Nimiq Login Files, an ImageWallet implementation.If a user loses access to their account, they can regain it with a backup and a unique list of 24 words.

How Many Nimiq (NIM) Coins Are There in Circulation?

Nimiq (NIM) has a circulating supply of 7,356,626,320 NIM as of March 2021, and a maximum supply of 21,000,000,000 NIM.

Sending and receiving funds can be overwhelming due to long addresses, how is Nimiq addressing this issue?

We found this to be a pain point from the beginning of the project because we are all crypto users and we found ourselves constantly verifying addresses while feeling uncomfortably vulnerable to typos and the so-called clipboard hijacking.

Staking became a must feature for blockchain projects, how will Nimiq approach it?

That’s true, crypto has to be easy and accessible for mass adoption! For staking, we aim for nothing less than the easiest and most convenient staking UX to date.

The blockchain industry is extremely saturated, what competitive advantage and features differentiates Nimiq from other decentralised solutions?

Many projects “simply” fork Bitcoin or create an ERC20 token.But Nimiq built and runs on its own, original blockchain.Why? Because we wanted to create the first blockchain that can run directly in the user’s browser or natively on the phone! Usually, when you use a wallet app to interact with e.g.Bitcoin, that wallet uses an intermediary to connect to the Bitcoin network and doesn’t actually prove the state of the chain itself.

What Is Nimiq (NIM)?

Launched in 2017, Nimiq is a blockchain technology that was designed to run in an Internet browser.It describes itself as a decentralized, censor-resistant payment protocol native to the web, with its own ecosystem of applications.It was designed to work from a simple browser on any device.

What is Nimiq?

Nimiq is a browser-first blockchain designed with simplicity in mind.The community behind Nimiq hopes to bring the benefits of blockchain technology, low-cost peer-to-peer payments, to the mainstream.To achieve that goal Nimiq has been built from the ground up to reduce barriers to entry that typically inhibit the mainstream adoption of blockchain technologies, including making it incredibly easy to run your own blockchain node and miner to participate in the network.

What is Nimiq?

Nimiq is a decentralized and censorship-resistant payment system in which the NIM token is transacted as a transfer and store of value.

What Is Nimiq?

Nimiq has a single vision: to bring blockchain adoption to the mainstream.It aims to achieve this through the development of a payment protocol that’s far easier to use for new market entrants than existing platforms.

What Makes Nimiq Unique?

Nimiq is browser-based and allows for easy user and developer interactions, making blockchain technology more accessible.The Nimiq payment system is focused on streamlining things as much as possible.

What Pain Points Could Nimiq Solve?

There are a number of barriers that make it hard for mass adoption of cryptocurrency.Some of these are related to the public’s perception while others are due to legacy financial systems.

Who Are the Founders of Nimiq?

Nimiq was founded by Elion Chin.Before that, he was the co-founder and investor at Localeyes & Wappo and the owner of Skyloft.He has also co-created Silicon Paradise and co-founded MoodLogic Inc.

Why A Browser-Based Blockchain Could Encourage Adoption?

Nimiq was the first browser-based blockchain.

History of Nimiq

In 2009, Telesat announced plans to build and launch its 19th satellite, Nimiq-5.