Social Nexus (SCL) is a digital currency that has been built to be used within Nexus Social, the reliable, secure decentralized social network platform. Consumers use the cryptocurrency in the Nexus trading platform to buy and sell products and services from other users. SCL is also used to donate to crowdfunding campaigns as well as to buy ad space which can be integrated into the user’s news feeds. Nexus is not retaining any of the Social coins that has enabled all the tokens to be available in circulation for the investors .
Nexus Social, as the project is called, assures of superior privacy and security. The data and apps exist on blockchain like the Storj and Bigchain DB rather than any centralized servers. It is private and cannot be indexed by the search engines It also allows anonymity in transactions with the option of adding the TOR functionality.
The aim of the Nexus project is to capture the two major platforms of ecommerce and social markets. Some of the features include:
There are many more proposals yet to take shape.
All the transactions within the marketplace will be done using Ethereum. Nexus will be in control of all the marketplace purchases and a 3% transaction fee is levied. The balance is sent to the seller account. Nexus Social is utilizing Storj as its Storage and all the database storage will be on the BigchainDB. Users are being provided with a multi-wallet that supports all the ERC20 tokens.
There is a maximum limit of 50 million tokens of which 47.5 million are sold at the ICO. The developers of the project did not keep any coins for their use leaving more choice for users in the ICO.
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