Nexus is a decentralized banking network being offered as an alternative to the centralized banking system where the people’s money deposited in the banks is watched, followed with suspicion, tracked to the source from where they got. People should explain and reveal how they have got it and part with a share out of it as tax. Consumers find it difficult and want to do away with the restrictions and regulations.
Motivated by the success of bitcoin, the first cryptocurrency, Colin Cantrell developed Nexus with the aim of liberalizing the entire system. Nexus is a bold step being taken to reorganize the decentralized system that itself had been created to give people control over the money they own from the authorities that govern it today.
By doing away with the regularized network system and providing a free and decentralized ecosystem, Nexus intends to unite the people who can connect with one another in a more secure manner that will ensure transparency and growth.
The Nexus project started with using of a Hashing GPU mining and CPU Prime mining channel and later a new version of Nexus added PoS (Nexus Proof of Stake). The system is highly secured with much more enhanced protection than any other cryptocurrency. For any policy regulation, consensus is required from all the three channels i.e. the CPU and GPU block producers, and nPoS block producers.
Investors can obtain Nexus either by purchasing it from their different exchanges or they can run a miner and get rewards. There is a default fee of 0.01NXS for the transactions. Unlike the other cryptocurrencies, NXS just requires 6 confirmations to approve the rewards and release the coins that are used in a block. The higher the confirmations, higher is its placement in the block.
Nexus has ambitious plans and is actively developing coalitions with the aeronautical service providers with plans of distributing the P2P network from the Space. The current hardware infrastructure used by the other blockchain cryptocurrencies, the users are under the control and mercy of the government bodies. By moving the blockchain hardware over to Space, the ecosystem will free itself from all obligatory regulations and work freely on its mission of liberating humanity from any federal fiscal institutes. There is a ten-year distribution period that culminates in 2024 and has an initial supply of $ 78 million. Nexus is more secure than even Bitcoin and uses SK-1024 security standard for constructing the blocks whereas bitcoin uses the SHA2 256-bit output.
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