Nimiq is the first decentralized peer-to-peer browser based on blockchain technology that is presented as a third-generation blockchain technology designed for peer-to-peer payments using an open source protocol. It combines the technical aspects of Bitcoin and Ethereum into an innovative web platform.
By enabling browser-based mining, the platform was developed with the concept of simplicity in mind. Since it is web-based, users do not need to download anything to access the block string or extract Nimiq tokens.
Nimiq enables peer to peer agreements without the interference of a third party and reduces the rate of barriers by establishing connectivity for developers, merchants and consumers. Nimiq was able to solve the energy-intensive aspect of mining by enabling a blockchain protocol that works through a web browser.
The simplicity of Nimiq is also one of its great features, since it was designed to be easy for the average user to use without the need to have an advanced knowledge about cryptocurrencies. Being a free installation, Nimiq hopes to attract a large number of new users to the world of cryptocurrencies.
Nimiq comes with several attractive features:
Excellent payment experience: Nimiq’s is an open source payment protocol, and its main goal is to establish peer-to-peer connectivity for fast transactions. It has inter-strand compatibility and as such can be connected with Ethereum and other cryptocoin block strings to implement smart contract functions.
Free installation: Nimiq has a natural browser that uses web connectors to establish network communication. It can also run on servers if the user prefers.
Fast Synchronization and Transactions: Nimiq provides fast synchronization with other users through peer connectivity. The transactions are usually instant in Nimiq with a low cost and without need of block confirmation. Nimiq is a protocol mainly for payments.
Timelocked Hash Agreements not only allow off-chain transactions and scalability. Nimiq will also use them for inter-string transactions to be compatible with Ethereum and Bitcoin, thus allowing Nimiq users to access the advanced functions of Ethereum’s smart contracts, while allowing users of other cryptocoins to exchange in Nimiq without an intermediary easily.
The project is in testnet, and it is anticipated that the mainnet will be launched in December 2017. For more information about the project, you can review it through its whitepaper.
