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NIMIQ – An underrated contender for mass adoption and DeFi

Hello everyone!

Seeing all the payment coins flying I would like to present a very little known one – yet one of the best and friendliest cryptopayment systems out there with lots of potential.

Coingecko link: https://www.coingecko.com/en/coins/nimiq

What is NIMIQ?

Nimiq or Nim is a payment protocol blockchain with a goal to be the easiest and most convenient to use open internet money for average non tech-savvy user. https://www.nimiq.com/onepager/

The way it is unique compared to the other payment blockchains is by the way it is built around the browser-based/ease-of-use approach. This is making it super flexible to be adopted in any web/e-commerce platform. No additional 3rd party downloads, just pure browser experience on any device you can think of.

The official Nimiq wallet is thus also based directly in the browser and when connected, acts as a node directly on a blockchain which makes it very secure and swiftly updated to the current blockchain status. Private keys are safely stored directly in your browser’s cache and you just download the login file with password to regain access. You can also store it on your ledger device.

DO NOT FORGET TO BACKUP YOUR WALLET WITH BACKUP PHRASE

I personally see nimiq’s potential and the best use-case to be a sort of Paypal in crypto space. It doesn’t race against BTC/ETH, it aims to supplement it with ease of use orientation – killer UX, fast transactions and direct FIAT-crypto-FIAT gateway. BTC as store of value/savings account. ETH/Defi as crypto banking. NIM as the crypto fiat gateway.

Current unique tech features:

– Cashlinks – is a unique feature of the Nimiq Blockchain that allows you to send Nim to users, with or without a NIM account, in a message over WhatsApp, SMS, Email or virtually any messaging service through a URL.

– Fastspot – enables non-custodial, cross-chain and fiat-ready atomic swaps. Currently compatible with BTC for now.

Biggest Upcoming tech updates for 2021:

Nimiq 2.0 Albatross switch/staking – nimiq will switch to a PoS chain – that should be able to hold over a thousand transactions per second with very little fees. You will be able to stake your coins and gain some additional passive income directly in your wallet.

The community also voted for supply curve change meaning the switch will be sort of a one time “halvening” in terms of inflation/emission rate. https://www.nimiq.com/blog/supply-curve-for-nimiq-20-finalized/

Nimiq OASIS – Nimiq’s Open Asset Swap Interaction Scheme (OASIS) is the blueprint that describes how to make off-chain assets such as USD, EUR, stock certificates, web domains and many more behave as if they were tokens on a blockchain.
https://www.nimiq.com/oasis/explainer/

Other interesting features:

Transparency reports – Nimiq team is dedicated to their goal and does yearly transparency report to ensure supporters the funds are used where they are needed the most.

There is many more features coming and the community is very active, building various apps as a part of nimiq’s ecosystem.

You can also check the ROADMAP for what has been done and what is up ahead. Also to keep updated you can follow and go through official blog posts published by the team.



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