Nexus (NXS) is the cryptocurrency that powers the Nexus ecosystem. This platform is built differently, moving away from the traditional UTxO format to a uniquely designed three-dimensional blockchain. This 3D chain, known as the TAO Framework, improves security and allows Nexus to provide on-chain scalability, eliminating the need to rely on second layer solutions.
The developers claim that they were inspired by and remain dedicated to the initial principles of Satoshi Nakamoto, maintaining a desire to “fulfill the vision that was promised with the creation of Bitcoin.”
Nexus was ranked among the top 10 coins based on technology by Weiss Ratings in 2020. The Nexus TAO Framework, along with their Signature Chain technology, which eliminates the need for private key management are two major factors for this recognition.
NXS started as an attempt to develop an already existing Bitcoin protocol. The idea initially occurred to Colin Cantrell, also known as Videlicet.
From a very early age Colin was interested in technologies. He got his first computer at the age of 10, then the love for simulators happened. With the help of his father, he learned to program using Visual Basic language. He got into cryptography in 2013 and was amazed by the possibilities.
In the beginning, Nexus was called CoinShield. Colin started to work on the project under the pseudonym Videlicet. And he was one of the first in the Crypto World to reveal his identity because at that time the crypto community was changing to greater transparency. Using the real names seemed to be one of the important steps to prove that the project was not another scam.
Since Colin was able to develop good expertise in cryptocurrency, he became a well-recognized professional after he showed his identity. The name of the project was changed when the concept changed. The team wanted to create a safe space in comparison to the existing markets. The concept of Nexus is to bring the community closer together and focus on the common goal.
If you are interested in joining the Nexus ecosystem, you need to get some NXS coins. Here is a way to do it on SimpleSwap:
We hope that this article explained the basics of Nexus. Thank you for reading. You are welcome to use the widget below the page to get some NXS coins!