What Is Nexus?
After a recent request, I’ve decided to check out Nexus, and figure out what’s so special about it.
Nexus is a SHA3 algorithm based blockchain, that focuses on creating and maintaining the fastest and most secure blockchain imaginable, with support of DAPPS, and database storage. A lot of coins boast about these three main attractions, but let’s get deeper.
Colin Cantrell(lead developer) started tinkering with the creation of Nexus as a Peercoin fork, in 2012. His original goal was to create a peer to peer trust-less digital cash form in which data can be hosted, and contracts can be ran.
After learning more and more, his dev team had grown, and continued to create the current overall result. A faster, safer, easily scaled, data-hosting, DAPP deploying, Bitcoin-like blockchain. Phew, that’s a mouthful.
Nexus is both a PoS and PoW blockchain that has a block size that’s twice the size as Bitcoin’s, with a 512 bit standard encryption method. The blocks are found faster and hold more transactions than Bitcoin’s, despite the larger block sizes.
Colin Cantrell claims that Bitcoin’s blockchain currently functions like using a rock, as a hammer while building a house… It will put the nails in, but will just take longer, and more effort than say, an electric hammer.
I interpreted this as; By optimizing the basic tools of the blockchain we’ve been given will allow for everything to occur faster. Faster blocks, faster payouts, faster blockchain advancements… All lead to faster mass adoption.
Satellite Hosted DAPPS And Databases
On top of it’s general optimizations, Nexus is also attempting to create DAPPS, and usable databases that live within the blockchain. Mysql, and other forms of data storage are becoming too weak for modern era content/storage. Ethereum/Ethereum forks will come to a max limit of computing power needed eventually for the non-optimized code they are running on. Nexus is proposing an optimized node of satellites that hosts the blockchain via sub nodes on the ground, using a new and improved form of packet construction and DAPP deployment. This is some next level $#!%*.
These alleged satellites would be launched, and 100% owned by the blockchain. It’s completely decentralized, no person or organization specifically owns them.
Keys, Keys, Keys
Nexus’ contract proposals are hard to comprehend, but they basically allow contracts to deploy other contracts. Say you have a contract, and supply it the needed key to run. If this contract returns selected data, it can generate and use a key to deploy another contract. There can be multiple layers of these keys and contracts repeating.
In Conclusion
Nexus is changing the game. I was immediately sold after watching the “Colin Cantrell Explains Nexus” video on their channel. Certainly there’s a lot of things that can go wrong, however Nexus is a coin that’s thinking ahead, and coming up with functional ways to increase the efficiency of blockchains both specifically, and in general, with massive progress to show for it.
Thanks for reading, as always be sure to do the research yourself and generate your own opinions!
Sources:
“Colin Cantrell Explains Nexus”
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