Nimiq is a decentralized and censor-resistant banking system that uses the NIMIQ coin for transactions. This platform differs from its rivals in its innovative browser-based approach. That’s why users can connect directly to the blockchain via a web browser and have no intermediaries.
Nimiq Cryptocurrency Brief History
The project was developed with funds raised during an ICO in the middle of 2017 by the Nimiq Foundation, registered in Switzerland. The Nimiq core network was released on April 14, 2018.
Testing of the Nimiq 2.0 network began in late 2019, with a full transition in 2021. This version has a Hybrid Model where the Accounts Tree lets members access all transactions easier and get all advantages of an account-based model.
Nimiq Token Price
Today Nimiq price is 0.0013 USD.
Features Of The Project
Nimiq is the first browser-based blockchain. So, Nimiq-based applications can be opened directly in the browser, locally, with no need to download any extra programs, or server-side applications. If a user has a server-side app, he should use the Nimiq Node.js client.
As a result, everyone is allowed to integrate it into any existing application. Synchronization with Nimiq takes seconds and works with fast bandwidth. It is perfect for mobile and progressive web apps.
What Is NIM Token?
The NIMIQ token is a native Nimiq coin. Its main idea is that it can be used as a digital asset. A total of 2.52 billion tokens were created during the release of the Mainnet.
This end goal is the same as other cryptocurrencies such as BTC, LTC, and many others. However, the truth is that no cryptocurrency can be considered real digital cash right now.
The reason is that many merchants still don’t accept it, which makes it nearly impossible to buy anything with cryptocurrencies.
How To Mine Nimiq Crypto?
NIMIQ mining can be done via the NIMIQ Desktop Miner. So, it’s possible to get tokens in the background while working. To start mining, users have to just paste their wallet code and preferred mining pool information.
By default, a user runs a “dumb node” connected to the network. To join it, a miner has to switch to a backbone node.
After that, it’s possible to use hardware wallets, such as Ledger Nano S. What’s more, developers are going to release their native mobile app in 2021. This NIMIQ wallet will provide all features of Nimiq 2.0, OASIS and FastSpot.
By the way, Nimiq has it’s own non-custodial browser-wallet that can be set up within just 30 Seconds and without need to register or download anything
Ways To Use Nimiq?
There are several ways to use NIMIQ cryptocurrency:
- Online banking. NIMIQ allows users to pay with decentralized money. Merchants can integrate it through APIs or store plugins.
- Digital Money. You can send and receive NIMIQ cryptocurrency, and transfers abroad will not only be profitable but also secure.
- Donations. Philanthropy with NIMIQ is possible and active thanks to ImpactX Foundation. Their job is to attract investment in charities, vet companies, and raise money for really important charitable projects.
- Vote with NIMIQ. Users can protect democratic processes with tamper-proof voting.
Nimiq Price Prediction
After the platform was launched, a NIMIQ price didn’t change for a long time. Yet, it started growing in the middle of 2021. Now it’s still rising, and it will get higher if the developers achieve their goals.
In 2021, the team is going to upgrade Nimiq 2.0, add private transactions on their blockchain and release the FastSwap widget that will allow users to see a current NIMIQ coin price and buy this token directly from their bank accounts.
When Nimiq 2.0 is released, developers are going to concentrate on a UTXO-Tree. It’s a combination of the BTC UTXO scheme and ETH Accounts Tree. This data structure will help the Nimiq blockchain prepare for private transactions and future scaling solutions.
Overall, NIMIQ has all chances to become a rival for more popular digital assets. However, it remains to be seen if the system is ever completed and if Nimiq ever gets the recognition it seeks.