Nimiq is described as an open source decentralized peer-to-peer payment protocol for the world wide web. In this article, as Kriptokoin.com, “What is Nimiq?” We will answer the question. In addition to these, we will touch on all the questions about the project.
What is Nimiq? What does NIM do?
The goal of the Nimiq platform is; Bringing blockchain adoption into the mainstream. It aims to do this by developing and realizing a very easy payment protocol from existing platforms for new market entrants. NIM is written in Javascript ES6. Therefore, it runs in a web browser without the need for a node and synchronization.
Users can store and exchange their NIM Tokens simply by using their browser or mobile device. The entire platform is designed purely for ease of use. Even a total crypto rookie can work without hearing terms like wallet, P2P network, or cryptography. At the same time, users can easily use NIM Tokens by simply using their web browser. Nimiq is also an open source project. With the ease of using Javascript, even beginner developers can easily get involved.
How does it work?
Extremely easy and everything is done through the browser. Nimiq is one of the few projects that can be mined using only one CPU. In keeping with the mission of the project, noob miners can even start using browser-based mining. This is available as an option from the project’s home page.
More experienced miners can download the node.js client. It can also be a spine scanner. The rewards for a backbone scanner are even greater, as backbone miners offer a higher hash rate than browser miners. However, the project maintains browser-based mining as part of its goal of maintaining the reach of the masses.
What are its features?
The platform, accounts and balances are stored in a Merkle-based database. PoW’s Non-Interactive Proofs enable nodes. Reconciliation is reached within seconds, including mobile devices. While Argon2d is Nimiq’s delay-based PoW algorithm, Ed25519 Schnorr signatures also ensure the security of transactions. Currently there are 2 implementations of the protocol: JavaScript and Rust. Cryptographic foundations can be optimized thanks to WebAssembly in the browser.
What is Nimiq? How to buy NIM?
The largest exchanges traded with Nimiq; KuCoin is HitBTCi CoinEX and Hotbit. To purchase coins, these steps are followed:
First you choose as the first step. Access the web/mobile application of the exchange listing NIM. Then complete the account opening steps of the exchange. Complete the next step, the authentication and approval process. Follow the steps of the exchange, which is the next step, to deposit funds. As the last step, choose NIM Token according to the balance amount you want and create a purchase order. Store it in your trusted accounts.
