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There are perhaps a million reasons why privacy is important. Privacy is part and parcel of who we are. It describes us. By nature we are keen on preserving this individuality, an aspect that makes us distinct. With newer technologies ever bringing us closer like never before, there is no other time in history that the world is demand for more privacy that in the 21st century.
But what could be the reason? The rise of governments willing to collect every nounce of information from all and sundry is pushing individuals to the wall. Exacerbated by the rise of social media and search engines who are more than just platforms but data harvesting machines, privacy is the perfect antidote to limit the powers of oligopolies and governments.
Through privacy there is respect for individuals and if push comes to shove, there are measures on the ground to limit damage and effect reputation management steps. With privacy there is magnification of the Freedom of speech and expression. Privacy helps foster trust and respect.
By advocating for privacy and implementing policies geared towards prioritizing privacy, there will be no need for one to justify themselves. There will be freedom for more political activities. In short, there will be no room for curtailment. Blockchain made that possible but Nix is taking it a notch higher.
At core, Nix is a platform that meet the needs of their end users. From its platform, they will mint a privacy centric currency on top of a multi-layered interoperable platform that will be the base of an anonymity centric network. It is here where users can launch anonymous dApps and smart contracts.
This additional cushion will be the “best-in-class privacy layer” to any blockchain in existence.
Enabling this is robustness that is inbuilt in Nix. By design, the platform is built over four layers. The protocol and utilization layers handles consensus and tools respectively. Meanwhile, the communication and dApp layers allow for interoperability and dApp development.
Behind Nix’s ingenuity is the development team consisting of Matthew Tawil who doubles up as the Founder at flarewallet.io and the lead blockchain engineer. At Nix he specializes in consensus protocol work regarding LPoS (leasing proof of stake), lightweight p2pSigma Protocol, Commitment Key Pack, and layer 2 solutions. Then there is Pieter Hamels, Mikheil Nems and Mauro Hernandez.
In Operations there is Mario Torres who has a Bachelor’s degree in Mechanical Engineering from Universidad del Zulia. Kendry Fernandez is under PR and Editing while Michael Brayer is the Community Manager. Under Design is Thomas while Dan Wiggins spearheads Nix’s marketing efforts by addressing their SEO & Digital Marketing needs.
What’s noteworthy are Nix’s advisors. Charlie Shrem is part of the team. He’s a known Bitcoin advocate and an early founder of the Bitcoin Foundation. He’s had his run-ins with the law but he remains adamant and passionate about privacy and believes privacy projects are the future of crypto. Dr. Sriram Vishwanath is yet another advisor. He is a Professor in the Electrical and Computer Engineering department at The University of Texas at Austin.
It has been roughly a year since Nix launched their mainnet back in June 27. Since then it has been a plethora of activities. From completing their PoS Consensus Model on the day of launch, rolling out the NIX Ghost Vault in September 2018 to completing the NIX 2-Way Ghosting with Commitment Key Packs on Nov 5, progress is positive. Conspicuous in all this was the release of the Lease Proof of Stake Consensus Model on Dec 15 and the mobile wallets in early Jan 2019.
Nix followed this up with Decentralized Off-Chain Governance, a Hardware Wallet Ghostnode Support, a Sigma Protocol Integration, a Exchange listing – CryptoBridge and Hardware Wallet LPoS Support is currently in progress. The icing on the cake in all this was the Exchange listing at KuCoin where its asset was paired against ETH and BTC.
Scheduled for Q3 and 4 of 2019 is Sidechain development and research as well as Developer SDK.
Towards their goal, Nix has a partnership with Kucoin where Nix is listed and paired against ETH and BTC. Concurrently, they are working closely with ChainZilla where their express objective is to “bridge the gap between decentralized exchanges.”
From this collaboration, both companies will seek to help promote future collaborations among decentralized-driven projects as well as the implementation of more NIX private solutions like the Ghost Vault and the 2-Way Ghosting.” Nix also has a partnership with BlockNet, which describes itself as an internet of blockchains and a “2nd layer blockchain interoperability protocol that enables communication, interaction, and exchange between different blockchains.”
Nix creators are after building a novel project, empowering users and freeing them from the increasing entanglement from social and even political interests. Towards that end, the project will be paying homage to the Zoin community believing that Zoin’s “network of individuals are the essence of how there can be an immunity towards community driven empowering ecosystems.”
Therefore, the initial supply of Nix is based from Zoin without the need of an ICO. There was a 2:1 Airdrop for Nix and Zoin coins meaning at the time of snapshot, two times as many Nix coins as Zoin were created followed by a claimed Airdrop where issuance is based on evidence from Zoin ownership and that not all coins could be claimed.
From this, the initial supply was 38 million with a capped maximum supply of 175 million where the initial Nix reward stood at 68. Nix halving will be after 1,050,000 blocks where each block is generated after every two minutes. Besides there is a seven percent block fee towards a development fund that will instead cater for research and development of the Nix protocol.
Presently, there are 43.2 million coins in circulation, each trading at $0.20 with a market cap of 8.64 million. The $0.20 tag is a far cry of $6.83 it tested 10 months ago. From this, it is evident that Nix plummeted 97 percent to 7 cents before recovering.
NIX/BTC Price Analyses
Trading below last year’s lows, Nix like most crypto assets is under pressure. However, from technical arrangements, a snap back to trend after free falling 97 percent in 2018 is the main resistance trend line connecting highs from Q3 2018. Other resistances for upsides are the 0.000020 BTC, 0.000033 BTC and 0.000067 BTC levels. Support is at 0.000009 BTC.
Short Term Catalysts
Overly, Nix is a tool that will empower all and sundry. Fronting privacy and championing for independence in everyone’s social, economic and global structures, they integrated the Ghost protocol. With the team keen on fulfilling its road map, the activation of Sigma at block height block 232,000 meant it was the first Proof of Stake blockchain network to do so. Sigma tags a new level of privacy and scalability.
On top of that it allows for custom “implementation among the many privacy oriented projects with reused technology” as the community enjoy the full benefits of an off-chain governance model where suggestions for network enhancements can be made.
But there is more. Their listing at Flare Wallet promise to be a game changer. Not only is the wallet private yet multi-currency, but the User Interface is an improvement, even better than that of BTC supporting Wasabi. Aside from facilitating private transactions, Flare is where you can trade NIX across different decentralized exchanges thanks to the Ghost Protocol which is a mix of Bullet Proofs, Atomic Swaps, Dandelion, commitment key packs, Tor and Sigma based ZK proofs. As such within the Flare Wallet there is multi-currency anonymous swaps that is only unique which is a huge selling point for users keen on privacy.
On top of this there are dedicated free mobile wallets available for iOS and Android users. Individuals desirous of heightened security can connect Nix to their Ledger Nano S hardware wallets via Nix Electrum. All one has to do is to ensure they download the latest Firmware and have the Ledger Live App.
what could spur demand is the new Leasing Proof of Stake allowing for
third-party cold staking. With a ROI of 21.44 percent for normal staking and
14.44 percent for Ghost node, rewards alone are enough to entice participation
triggering demand and therefore higher prices.
Long Term Catalysts
Decentralization and interoperability is no doubt, the new cool. With these, privacy is an assurance and as Nix fuels this drive, the DEX Manager is critical. Riding on the principles of blockchain and decentralization, this dApp “solves privacy layers among DEX trading by virtue of privatized atomic swaps.”
Additionally, it will be a bridge, connecting DEXs allowing for better liquidity. Like the activation of SWAP, Nix is the first of its kind allowing for anonymous trading, swapping all from an easy to use DEX manager prioritizing security and privacy. Already, Nix is available at Kucoin where it is paired against BTC and ETH.
However, with the gravitation towards decentralization and the intentions of the creators, it is highly likely that NIX will be listed aside from Mercatox but in other liquid exchanges as prices recover after last year’s dredges.
Done with Crypto Exchange Hassle and Hacks?
✨Trade simple and fast from your hardware wallet✨