Nimiq Network
Nimiq Network (NIM) – Browser-based Blockchain & Ecosystem.
ICO start date: 2017-07-08
Mainnet start date: 2018-04-14
Contents
Concept
Nimiq intends to lower barriers of entry for blockchain technology, and make it accessible for mainstream use. With an operational betanet already live, users can experience how simple it is to mine inside a browser – installation free. Nimiq is making blockchain technology as accessible as the internet, with a vision to truly decentralize the web. Current available cryptocurrencies are complicated and counterintuitive for the average person to use. True internet decentralization is impossible if access to blockchain technology is limited to only the technically oriented people. Until blockchain can be picked up with general recognition and general usage, its true power remains unrealized.
More information in the project whitepaper: Nimiq whitepaper
February 2020 Update
There have been vast changes since ICO 2017. The beta Luna Testnet Network in 2017 has since been completed along with the Mainnet April 14, 2018.
After the coins start, miners had their opportunity to mine with their cpu’s on an Asic resistance, Argon2d PoW (Proof-of-work) algorithm that keep big miners from dominating the system.
Eventually in January of 2019, pools started allowing GPUs to mine on the system as well, increasing the hashrate ability to mine from a single computing system. Also that year, the announcement for the offical plans to switch from PoW to PoS (Proof-of-stake) with their original technology, Albatross.
After it has been in the works for over a year, the team released late 2019 that the first initial test has been positive, hoping to get in the 1000+ TPS(Transactions Per Second) range. An upgrade from the current range ~10 TPS.
Along with the Albatross upgrade, Nimiq plans to release OASIS (Open Asset Swap Interaction Scheme) as well. It’s a middle layer that powers Fiat / Crypto trades. Nimiq hopes to fix the existing problems of stablecoins, over-the-counter (OTC) and crypto payment processing markets by enabling an open, simple and fast way to exchange value between crypto and fiat systems. Nimiq plans to compete in this 4.5 trillion dollar market by having the best technology, user interface, and seamless experience.