Nimiq in a Nutshell
A simple, secure and censorship-resistant cryptocurrency, native to the web.
Nimiq is blockchain technology inspired by Bitcoin but designed for the browser.
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. Empowered by these features, Nimiq provides a frictionless transfer and store of value directly applicable to the real world: The NIM cryptocurrency.
NIM is the heart of an ecosystem of applications built by the community and the 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, no personal data and takes less than 2 minutes. Keys are stored in the user’s browser and are never sent to a server. A redesign (ETA April ’19) will improve account creation, making it faster to create a Nimiq account than a Google or Facebook account. The project donates some NIM to new users. Try it here.
The same level of easy accessibility is projected for buying and selling NIM as well. Nimiq has started working with a non-custodial exchange and a financial institution to facilitate trustless conversions of NIM to other cryptos, as well as NIM ⇆ Euro.
Nimiq’s protocol and application code is open source. It is a community-driven nonprofit project developed by a multinational and tech-focused team.
For Team Nimiq, impact is more than business. 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.
A whitepaper for Nimiq 2.0 – the evolution of the current protocol – will soon be published. Nimiq 2.0’s novel consensus algorithm will achieve a performance close to the theoretical maximum of a single-chain protocol.
Barrier-free value exchange for everyone.
Enable the most accessible,
censorship-resistant payment solutions.
|Primary use-case||Store of value, censorship-resistant payments||Distributed computing platform, smart contracts||Accessible and censorship-resistant payments|
|User interaction||App or website relying on a third-party service/gateway or installing your own node||Installation free web-app that runs your own light node inside your browser|
|Several minutes||Several minutes||Less than 2 minutes||Less than 20 seconds|
|TECH. SPECS||BITCOIN||ETHEREUM||NIMIQ||NIMIQ 2.0|
|Maximum supply||21 million BTC||infinite||21 billion NIM|
|On-chain transactions per second||7-15||up to 25||up to 12||1000+|
|Average block time||10 minutes||15 seconds||1 minute||seconds|
|Current average TX fee||0.10 to 0.20 USD||0.14 – 0.28 USD||0 USD for up to 10 TX per block and sender||N/A|
|Light node sync download size||tens of megabytes||hundreds of megabytes||~1MB||TBA|
|Consensus algorithm||PoW based on SHA256||PoW, planned to be switched to PoS||PoW based on Argon2d||TBA|
|Mining||CPU, GPU and ASICs||CPU, GPU and ASICs||CPU and GPU||TBA|
|Smart contracts||Scripts, not Turing-complete|