What is Nimiq?
Nimiq is blockchain technology inspired by Bitcoin but designed for the browser. Implemented in Rust and JavaScript, Nimiq empowers web developers to easily access and build on it. Only three lines of code connect any web application directly to the blockchain, making it easily accessible to web-based businesses and projects, too. Unlike cryptocurrencies such as Bitcoin and Ethereum, Nimiq does not require a third-party node to send transactions directly from the browser. This advantage allows for a new level of accessibility and user experience without the need to compromise on decentralization or censorship-resistance.
How does it work?
NIM is the currency of an ecosystem of applications built by the community and the Dev team alike. The free-to-use browser wallet by Team Nimiq is an example of the simplicity made possible by the browser-first blockchain. Creating a Nimiq account on the website requires no download and no personal data. Keys are stored in the user's browser and are never sent to a server. The same level of easy accessibility is projected for buying and selling NIM as well.
What does it aim to solve?
Barrier-free value exchange for everyone. Nimiq’s protocol and application code is open source. It is a community-driven nonprofit project developed by a multinational and tech-focused team. Two percent of the total NIM supply has been irrevocably assigned to Nimiq’s charitable foundation, vesting over 10 years. As the value of NIM grows, this foundation will be enabled to support good cause initiatives with high social or ecological impact.
What are the features of Nimiq?
Accounts and balances are stored in a Merkle-based accumulator. Non-interactive proofs of proof-of-work allow for super lightweight nodes. Consensus can be established in seconds, including on mobile devices. Argon2d is Nimiq’s latency-bound PoW algorithm where Ed25519 Schnorr signatures secure transactions. Currently, there are two implementations of the protocol: JavaScript and Rust. Cryptographic primitives are optimized through WebAssembly in the browser.