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NIM
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Nimiq
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What is Nimiq (NIM)?

Nimiq (NIM) is a blockchain project designed to make the use of cryptocurrency simple and without compromising decentralization. Nimiq is the only blockchain in which users always participate directly by default, compared to Bitcoin and Ethereum, where a third-party node is used by default to connect to the network.

Nimiq's simplicity-oriented approach means bringing blockchain solutions to where the user is: on the network. Thus, Nimiq wants to offer the ability to make payments through the blockchain in the same simple way as interacting with any web application, for example, with Twitter. The only requirement is that your device must be connected to the Internet.

Nimiq wants to make payments through the blockchain simple and with such properties:

  • Without installing third-party applications.
  • Compatible between devices.
  • Secure and confidential.
  • They are intuitive.

Who is the creator of Nimiq (NIM)?

Nimiq is the brainchild of Robin Linus and Philipp von Stip-Rekowski. Currently, the website lists several team members with experience in various fields, such as communication and research, frontend engineering, blockchain core development and law.

Around January 2019, there was a serious split in the team when Linus returned from a long vacation and published his complaints about the project on Reddit.

What is the uniqueness of Nimiq (NIM)?

The Nimiq team invented the Nimiq OASIS, a crypto-fiat DeFi bridge. Now atomic swaps are possible between cryptocurrencies such as NIM and BTC, the imminent appearance of ETH is promised, and fiat currencies such as euros and US dollars without personal information. The earned swap fees are converted into NIM and withheld to create a deficit.

Nimiq has created Albatross, a new ultra-fast Proof-of-Stake consensus algorithm that will be launched in 2021 with Nimiq 2.0, the next version of the Nimiq blockchain. ~ 1000 TPS and completion in one second is expected, pushing Nimiq 2.0 to the theoretical limits of single-chain protocols. Thanks to this update, energy consumption will also be reduced to less than 1% (compared to the current Nimiq POW).

How many Nimiq (NIM) tokens are in circulation?

Having the maximum offer - 990,000,000,000 NIM, there are currently - 8,313,329,335 of NIM tokens in circulation.

At the moment, the asset is traded at the price of 0.003792 USD, with a daily trading volume of 867,412 USD, with a market capitalization of 31,524,145 USD.

How is the Nimiq network protected?

The Nimiq blockchain is currently based on the POW consensus algorithm, which is a reliable protection of the network.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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