Gate.io AMA with Nimiq-To Empower All Humans with Decentralized But Easy Payments
Time: December 16th, 2022, 13:00 (UTC)
Gate.io hosted an AMA (Ask-Me-Anything) session with the Communication Manager of Nimiq, Richy and Micha at Gate.io Exchange Community
Official Website: https://nimiq.com/
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Guest
Richy — Communication Manager of Nimiq
Micha — Communication Manager of Nimiq
Q&A from Gate.io
Q1: What is Nimiq?
Richy: Nimiq is “Crypto for Humans”: The world’s first installation free, browser-centric blockchain payment protocol, maximizing usability and scalability without compromising on decentralization. NIM is a native coin on the Nimiq blockchain and is used as the payment coin of the Nimiq eco. It is designed for fast, easy and low-cost online and point-of-sale payments, with a focus on P2P payments as simple as Venmo, but with the properties of true cryptocurrency.
Learn about Nimiq here: https://youtu.be/dA40oyDVtqs
We also invented Fiat Atomic Swaps with our own technology called Nimiq OASIS. Learn more about it here: https://youtu.be/IJDGE8Mg-uw“.
Q2: Which consensus mechanism does Nimiq use?
Micha: Nimiq utilizes Argon2d-NIM as its Proof of Work consensus mechanism, allowing you to mine with a CPU, GPU, FPGA or even your smartphone (though we don’t recommend using it).
With the transition to Proof of Stake, we will switch to the novel “Albatross” consensus mechanism developed by Nimiq.
For more information, please visit https://www.nimiq.com/whitepaper/.
Q3: What makes Nimiq special?
Richy: Nimiq invented the first browser-centric blockchain with light and nano-nodes that can be run without the need for installation or extensions. It can be easily integrated into any existing application, and syncing with Nimiq is incredibly fast and efficient, making it ideal for mobile and progressive web-apps.
Nimiq is revolutionizing the world of cryptocurrency by introducing the first self-custodial fiat-crypto atomic swap. This groundbreaking technology will allow users to seamlessly exchange cryptocurrencies such as NIM/BTC and fiat currencies directly from their bank accounts.
For more information, please visit https://www.nimiq.com/oasis/.
Q4: What are Nimiq’s tokenomics?
Micha: The Nimiq tokenomics are as follows:
Total final supply = 21’000’000’000 NIM
Existing supply = 10’612’000’000 NIM as of November 2022
Circulating supply = 10’093’000’000 NIM as of November 2022
The emission of NIM through mining (or staking once the Nimiq Proof of Stake transition occurs) is projected to continue until approximately 2118, at which time the last NIM will be emitted.
In accordance with the community’s decision, the transition to Nimiq proof of stake will result in a flattened emission curve.
For more information, please visit: https://www.nimiq.com/blog/supply-curve-for-nimiq-20-finalized/
Q5: What does the future hold for Nimiq?
Richy: We are excited to announce that Nimiq is transitioning to the Proof-of-Stake consensus mechanism! Our own unique algorithm, „Nimiq Albatross“, is currently in DevNet stage and is aiming to provide sub-second confirmations with up to 1000 transactions per second, as well as the easiest staking experience directly from your wallet.
Q6: Which apps are powered by Nimiq?
Micha: At the core of our mission is to provide effortless crypto payments. Our most powerful applications are designed to pay and earn easier than ever before.
Easy crypto billing
Cryptopayment.link (powered by Nimiq) makes it easy for you to create a payment request in USD/EUR. You can display the QR code at your point of sale or share it with your customers via WhatsApp, Email or other messaging services. The service also helps you set up or enter your Crypto wallet accounts, calculate the correct amount of BTC, ETH or NIM your customer needs to pay, and monitor the Blockchain for confirmed payments.
E-commerce crypto payment gateway
Nimiq’s WooCommerce plugin enables merchants to accept payments with NIM, BTC and ETH. It is self custodial and open source.
https://github.com/nimiq/woocommerce-gateway-nimiq
For more eco apps visit: https://nimiq.com/apps
