Today’s coin review is a cool one, and is a request from the community.
Today we shall review the NIX platform.
Let’s dig in..
NIX (ticker: NIX)
Wtf is this shit?
The NIX Platform is a newly introduced DEX manager. Much like Wanchain and other DEX protocols, NIX wants to enable shared liquidity between both DEX's and CEX's (centralized exchanges). Additionally, they allow for atomic swaps and provide a platform for developers to create cross platform dApps for exchanging.
What sets them apart is their focus on anonymity and privacy. They have created their own Ghost Protocol, which is the foundation of what makes their technology unique. When sending a transaction or making an exchange on their network, you can choose to do so through the Ghost Protocol.
The Ghost Protocol combines atomic swaps, TOR networking, the zerocoin protocol, stealth addresses and bulletproofs as part of their privacy settings.
- Bulletproofs conceal the quantity in the transaction.
- The TOR shit makes the transaction relay through a shitton of different networks making it difficult to track.
- Stealth addresses allow for the concealing of recipient addresses.
- And as we have reviewed a couple of times, the zerocoin protocol uses zero knowledge proofs to facilitate the transactions in a super mega private and anonymous fashion.
Combine all of this shit together, and you get the Ghost Protocol, which is slowly gaining traction as an improved privacy protocol in and of itself.
For consensus, they support Proof of Steak *Stake (super hungry right now) and also have masternode functionality.
To have a masternode (called ghostnodes in the NIX world) you need 40,000 NIX as collateral. We believe they facilitate a lot of the privacy transactions, although there is not much clear information on this yet.
Who tf is behind this shit?
From our research, Matthew Tawil is their founder, and they are a US based entity. Matthew holds a bachelors in Engineering from the University of Texas at Austin and has been involved with crypto for not too long, since 2017, according to his LinkedIn. If he has been involved longer, we are not aware. His earlier work is with Zcoin and and chainworks.com it seems. His lack of experience in the industry does not settle well with us, but we like to give anyone a chance to prove themselves.
Anyways, Low-Tier shitcoin. At the time of writing they have a $6,000,000 market cap, which makes them very high risk, in an already high risk market. We're also not the biggest fan of TOR implementations in crypto, it's proven to be flawed, but their privacy tech still holds its own with everything they've incorporated. Selecting a low market cap, higher risk, low-tier shitcoin early on can do well...who knows! Let’s see how they do.
Hope you learned some shit.
- Mike and Aaron