Presentation and definition of the crypto-currency Nimiq (NET)

Presentation and definition of the crypto-currency Nimiq (NET)

  • Name of the crypto-currency : Nimiq
  • Acronym : NET
  • Where to purchase Nimiq ? Binance
  • Creation Date : July 2017
  • White paper of Nimiq
  • Web Site of Nimiq

The nimiq, crypto-currency web-based

The Nimiq is a crypto currency is fundamentally different from Bitcoin or Ethereum. In fact, it is entirely based on Web technologies, including javascript. It is thus possible to undermine this virtual currency without the need to install any software : directly via a browser. This has the advantage of avoiding to go through an intermediary to handle his chips.

The blockchain Nimiq

The blockchain of Nimiq has been thought to be able to be compressed and downloaded very quickly. Therefore it takes only a few minutes to be able to engage in the mining of Nimiq. Every minute, the network is able to undermine a new block. Nimiq is a crypto-currency that enables you to make transactions much faster than other currencies in circulation. For example, it takes about ten minutes to generate a block on the Bitcoin network.

The system of nodes

The network Nimiq works with two types of nodes : nodes the network Backbone (Backbone nodes) and the nodes of browser nodes). Both are based on the code written in Java Script. The Backbone Nodes are installed on the server. They communicate with each other via the technology, WebSockets, and serve as the access point and signaling to the Browser Nodes. It is thus that they allow to establish real-time communications between different browsers. The Browser Nodes, on the other hand, do not require any installation. To connect to the network, they will have to establish a connection with a Backbone Node.