Review on Nimiq by francis fernandez
Nimiq: a chain of blocks that operates with an internet browser
Nimiq is a blockchain protocol that functions as a decentralized payment system that operates on the user's internet browser.
Nimiq constitutes a network of applications that allows users to interact with the chain of blocks simply by means of software that allows the display of web page content (browser).
The platform token is the NIM. It has a maximum supply of 21,000,000,000 NIMs. This digital asset is the instrument used for transactions within the Nimiq network.
What technology does Nimiq use?
This platform employs a proof-of-stake consensus algorithm known as Albatross that provides engagement, confirming blocks in approximately one second and achieving 1000 trades per second.
Nimiq's advanced blockchain technology and encryption protocol (Javascript) also allow its content to be anti-secure and fully decentralized. This also guarantees security for your users' accounts.
Due to its particular characteristics, the platform and its native currency have important utilities:
* Due to its safe, easy and anti-censorship currency, it allows making virtual payments through its interface applications (API) or through complementary stores.
* Allows money transfer anywhere in the world using various applications within its ecosystem.
* Offers security to store cryptocurrencies through their compatible wallets.
* Provides the opportunity to its users to receive compensation in their native currency in exchange for content and charities.
Where to buy the native currency?
In addition to the NIM coins received for rewards and donations, the NIM digital asset can be purchased at exchanges such as: Kukoin, HitBTC, Changelly, BitMax, among others.
What is NIM mining?
A public list is created with all the addresses and amounts of the business operations. Every minute this list is updated so that all operations are consolidated and form a block. Then the block is validated by consensus, the values of the list are modified and in this way the chain of blocks that contains the data of all the commercial operations that have occurred is built.
Pros
- Since NIM is an open source currency, developers have the opportunity to create their own application based on its technology.
- It is an application with an easy interface due to the use of a browser that connects directly to the blockchain.
- It is a fast, reliable and decentralized platform for payment, exchange and trading services for cryptocurrencies.
Cons
- has no downsides
