What Is Nimiq (NIM)? Complete Guide Review About Nimiq.

What Is Nimiq (NIM)?

What Is Nimiq (NIM)?

Nimiq is a decentralized, censorship-resistant payment protocol native to the web, with its own diverse ecosystem of apps. The native NIM token is transacted within as a store and transfer of value it acts as digital cash. The cutting-edge, browser-first blockchain approach means that users directly connect to the blockchain with nothing more than a browser.

Therefore anyone with an up-to-date browser can join the payment network directly, pay and accept payments without having to install software or rely on unnecessary intermediaries. This gives Nimiq its ‘it just works’ characteristic, which is further strengthened by an ethos of simplicity and ease of use. NIM is designed to be a cryptocurrency used by the masses.

Nimiq Storage Key Points

Coin BasicInformation
Coin NameNimiq
Short NameNIM
Circulating Supply9.19B NIM
Total Supply9,757,459,800
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Mission & Vision

Revolutionizing money by realizing the full potential of cryptocurrency. While Nimiq itself as a tech-focused project is dedicated to ushering in a new era of independent and censorship-resistant digital cash, the Ecosystem aims to bring universal access and the ease of use of NIM to both the tech-savvy and typical Internet users. All efforts are guided by an overarching philanthropic mindset such that as NIM is increasingly adopted, its charity’s ability to support good causes will grow.

Project Status

The Nimiq Mainnet was launched on April 14, 2018 and the payment protocol is fully operational. The browser-first blockchain has been deployed and streamlined for the web. All user interfaces are focused on simplicity, maximizing ease of use, including on boarding, easy address verification, and a simplified backup process. This is also home to a growing ecosystem of apps, and has dedicated significant efforts to advance blockchain and crypto adoption research.

It has acquired a stake in German WEG Bank to secure a licensed ally in implementing the first version of the Open Asset Swap Interaction Scheme (OASIS), while diversifying project assets. The project offers active support and advice to community developers, as well as limited seed funding for qualifying community projects.

Research Publications

A technical research paper resulting from Nimiq collaboration with Trinkler Software. It is a new PoS consensus algorithm that is able to achieve a performance close to the theoretical maximum for a single chain. The Open Asset Swap Interaction Scheme is the blueprint for a potentially disruptive crypto-to-fiat bridge, making fiat currency behave as if it were tokens on the blockchain, providing a unique way of connecting the traditional banking network with non-custodial crypto exchanges.

Motivation

Nimiq Cryptocurrency as a valid concept has been confirmed by the growth and persistence of Bitcoin since its launch in 2009. More than just a technical idea, it laid the foundation for a disruptive means of transacting value not seen before in the history of humankind, by allowing “payments to be sent directly from one party to another without going through a financial institution”. This brilliant concept has fostered a grand ecosystem with a broad range of ideas and technical solutions.

Cryptocurrencies still represent only a small fraction of the global money supply. And much of their adoption so far has been driven by centralized services that hold your crypto assets for you (centralized crypto exchanges, payment providers, etc). They are therefore still far away from the goal of crypto mass adoption, even more so in its original peer-to-peer, non-centralized sense.

Nimiq The reasons centralized solutions appeal to users seem to be convenience and ease of use, as they employ the same interaction patterns we became familiar with by using online banking. This familiarity in turn leads to a feeling of safety. But this convenience and feeling of safety come with a serious trade-off giving up the ownership of your keys to a third party, violating what is considered to be the most fundamental reason for the creation of cryptocurrencies in the first place.

Design Approach

Nimiq Web apps have become the standard of the Internet and are disrupting business models of traditional software industries. From Encarta to Wikipedia, from Office to Google Docs, web apps are far more attractive because they improve the overall usability of software for the user. By focusing on the browser instead of each specific OS and device, a more coherent code base is achieved, which translates into stability and a consistent experience across devices for the user.