To develop expansive technology connecting a decentralized world.
Nexus is a community-driven project with the common vision of a world inspired by innovation and responsible values, expansive technology, and the fundamental quality of connection being ubiquitous, free, and available to everyone. Our technology is designed to simplify lives, empower communities, and streamline business, while embodying the founding principles of Satoshi Nakamoto, the creator of Bitcoin.
Nexus verifies the ownership, modification and exchange of many different types of data, such as the transactions of our native currency NXS, tokens and assets.
The verification of all data on Nexus is described as ‘trustless’ because inclusions to the blockchain require authorization by a decentralized global consensus, provided by the Nexus community. There is no central data repository or authority requiring ‘trust’. Therefore, Nexus serves as an alternative to traditional central authorities such as banks and governments.
Similarly, in response to rising concerns of censorship and privacy related to how our personal data is used, Nexus is developing a distributed file system to be utilized by Decentralized Applications (DApps). Unlike regular applications that depend on centralized services and third parties, DApps built on Nexus will provide sovereign ownership of assets and data, while increasing data security, as there are no central points for cyber attacks to target.
Nexus has developed a technology called Signature Chains, which are comparable to personal blockchain accounts for managing tokens and assets, whilst maintaining pseudo-anonymity for privacy.
Signature Chains provide an automated key management system that still uses public key cryptography, but rather than maintaining the keys on disk or the cloud, they are stored in ‘mathematical hyperspace’, that only your login credentials (username, password and pin) can unlock. The technology also removes the burden of key management when using DApps, which often depend on third-party plugins such as MetaMask.
The accessibility of Nexus to DApp and wallet module developers has been made very simple through the Nexus Application Programming Interface (API), which means they are not limited to a specialised programming language.
The Nexus Three Dimensional Chain (3DC) will transform the ledger into a multi-layered processing system, in order to scale securely and maintain a high degree of decentralization. It is a promising candidate for solving the ‘Blockchain Trilemma’, an opinion that only two of the three qualities, security, decentralization and scalability, are achievable concurrently.
Data sharding is the division of data to be stored between many nodes. This can be thought of as having many warehouses to store packages (data) after they have been processed and transported. Due to every object being ‘verifiable’ by its index hash, the 3DC can provide data sharding with limited trust in remote nodes. Data sharding is an essential facet of the 3DC in order to achieve long-term scalability.
Signature Chains serve to enhance the security of existing DSA (Digital Signature Algorithm), by hashing the public key until it is used while changing the key pair with every transaction providing Quantum Resistance. The technology uses a one-time signature scheme that signs one message per key, which reduces the window of quantum vulnerability to the period between making a transaction and the inclusion of the transaction in the ledger.
Nexus has also integrated the following cryptographic functions: FALCON (a second round contender for the National Institute of Technology (NIST) Post-Quantum cryptography competition), Argon2 (winner of the password hashing competition, and a superior alternative to S-Crypt or B-Crypt), and Keccak (winner of the SHA3 competition).
All transactions on the public network are recorded transparently. However, an individual, company, or large enterprise wishing to manage their own private network, without the added complexity of worrying about system or network security, and protection of critical user data can run a Hybrid Network. Our Hybrid technology combines properties of public and private systems. The public network generates security and decentralization through higher levels of immutability, access control schemes, and custom validation algorithms, while the private network provides autonomy, isolation and privacy.
To read more technical information about Nexus please visit the TAO Framework site.
Nexus automated contracts can be used for the exchange of NXS, tokens and assets. These are self-executing contracts made between two or more parties, with instructions or 'conditions' written in code. They self-execute when the conditions are met, without the requirement of a third party or a middle man. For instance, Alice will send Bob 100 NXS, if Bob sends Alice a particular asset. Every transaction within the contract is recorded on the Nexus Blockchain, holding all parties accountable. Nexus contracts can be employed for uses such as invoicing, peer-to-peer payments, royalties and dividends.
A Decentralized Exchange (DEX) is currently being developed on Nexus that uses conditional contracts. This will provide an easy-to-use interface to exchange all assets registered on Nexus. There is no authority that designates the process of listing an asset, and there are no other parties involved in the exchange other than the buyer and the seller.
After the release of Tritium ++, augmented contracts will provide for more complex conditions to be fulfilled. Augmented contracts can be used to automate wagers and trades, replace the need for escrow services, and the execution of wills and trusts.
Nexus can be used to provide transparency into the ‘supply chain’ logistics of different products to ensure certification standard integrity and provable provenance. Similarly, this technology can be used in the issuance of event tickets in order to reduce fraud, and can be used to streamline many production processes and courier services.
Digital documents such as waivers, legal agreements and articles and medical records can be registered on Nexus by reputable bodies and then transferred to people. The advantage of these digital documents is that they are unforgeable, yet easily accessible. Third party services can also verify document authenticity, without verification from a registrar or issuing body.
Assets are able to be registered on Nexus, and like NXS, they can be exchanged without the requirement of a third party service. Types of assets include, titles, company intellectual property, utilities and certificated products.
The Nexus architecture facilitates numerous forms of financial products and services. NXS can be defined as a cryptocurrency however a variety of fungible currencies can be created with tokens for various usages. These can satisfy many industry requirements including Anti-Money Laundering (AML) even for microfinance (low-income, unbanked and unemployed) instruments.
Tokens can also be used for asset backed products, including precious metals, and similar assets supporting a wide array of outcomes. Securities, where the token represents partial ownership of a company, and the automated payment of dividends to token holders are also supported. After the release of Tritium ++, augmented contracts will be able to be configured to provide different types of loans and insurance.
On the Nexus public network, anyone can trace transaction originations and destinations. This feature can be used to create transparency in the non-profit sector, where it is reported that many donations, crowdfundings and similar charitable efforts are used inappropriately. Transparent transactions can also simplify the auditability of all public companies.
After the release of Tritium ++, developers will be able to use the Decentralized Autonomous Organization (DAO) API to create DAOs and to record cryptographic and transparent votes. DAOs can be set up to manage funds and resources in a decentralized manner. On Nexus, tokens will be capable of being used for the purpose of balloting, similar to shares providing individuals power in a public company, without the flaws of current shareholder voting structures.
Nexus is developing a 'Safenet' leveraging Location Identification Separation Protocol (LISP) as an 'elevated' web within the current internet, to facilitate greater safety, security, and transparency when surfing online. The Nexus Software Stack is an augmentation of the current internet's architecture, which will eventually supply immutable storage, censorship resistance, content source verification, improved cyber security (i.e. reduce malware), and provide a seamless roaming and user experience for websites using Nexus as their authentication system.
Our Crypto API (pending Tritium++ release) helps manage an array of cryptographic functions including public/private key pairs, signatures, data verification, encrypted storage & communications, authentication/authorization, root of trust and more. For example, root of trust can be used to create certificates (public/private keys) for websites and authentication services without the need for centralized third party Certificate Authorities (CA). These can also be leveraged for document digital signatures, file integrity and even encryption services for data and communications.
To read more about Nexus Solutions please visit the TAO Framework site.