NEXUS NEWSLETTER: NOVEMBER 2017
VOLUME 1: NUMBER 6
NOVEMBER 6TH, 2017
Welcome to the Nexus Newsletter!
Progress on the Nexus project continues apace, the core team continues to grow and following a very successful conference we are now stronger than ever as a Community. We have more people working on marketing, more people working on code, more people focused on business development, and more people working to organize our various online communities. This work includes developing a comprehensive strategy that includes plans for various areas of development through the end of 2018 for both The Nexus Embassy as well as the wider Nexus Community.
These plans include but are not limited to: An omni-channel marketing strategy, Nexus core software development, Nexus Hub development, Business development (exchanges – wallets – use Cases for various Industries), and other areas that are key to making the entire ecosystem run. Nexus is a large project and we are working everyday to grow and organize the team, envision future strategic direction, and connect with business and opinion leaders who are ready to change the world.
Following the post-conference Newsletter, The Nexus team had a very successful YouTube live on Thursday, October 12th with many of the core team present. The team gave a brief update of what’s been happening with Nexus and took questions from the Community. Colin introduced Brian Smith who has come onto the Nexus Core as a full-time Developer, bringing with him a team of five additional developers that are also working on Nexus.
The Dev team has been getting Tritium polished and ready for the Tritium Trust update, finalizing some of the architectures and formulating Nexus’s plans to unlock the 3-Dimensional Chain (3DC) through the TAO framework. They have also been setting up an agile framework to enhance the Nexus organizational tools for the team. The YouTube Live went on to cover some of the things different members of the team are developing as well as taking questions from the Community. We have highlighted some of the Q&A in verbatim transcripts at the end of the newsletter.
For more details, check out the full version of the YouTube Live:
The marketing team has been working to bring the newly developed omni channel marketing strategy to life – these are the same strategies used to market the conference and now they are being adapted to the platform as a whole. This includes all forms of communication emanating from the core, with key input consideration given to the Community as a whole. We take Community input seriously and work to integrate the best ideas we find no matter where they materialize from. Nexus is a very complex idea and when considering a marketing plan there are many dynamics to recognize; many people have different levels of understanding so the messaging needs to reflect this. We are working to take very complex ideas and boil them down into simple messages that make sense and help people understand how advanced Nexus truly is.
On the business development side we have been working to expand into new exchanges and wallets and are also working on various ways to integrate into economic ecosystems. For various reasons, cryptocurrencies are becoming much more popular, and we are constantly searching for new ideas and opportunities to work with people to help them understand the advantages of utilizing these technologies.
Since the last newsletter, significant progress has been made and we will continue to push the envelope each and every day. Blockchain is one of the fastest paced and most exciting technologies on the planet and Nexus will continue to surprise!
We have included an additional development update from lead developer and founder of Nexus, Colin Cantrell on the recent Wallet release 0.2.3:
Wallet release 0.2.3 contains many updates to the core code including Unified Time, Staking, Network Reliability, and RPC Commands. This update is the first step in the incremental development updates that can be expected from here forward. We have decided to improve the development strategy by creating more frequent updates more often to create more consistency in the development roadmap, without needing for hard dates. This will give everybody a better idea of the development timelines as they see more updates happening with certainty. The next update will include changes to the LLD syncing and loading system, GUI improvements, and eventual soft releasing of base Tritium features such as signature chains.
We hope this new strategy helps everyone see more consistent progress rather than the previous approach of larger updates in longer timelines. We look forward to hearing your feedback, and if you have any issues with this current version feel free to let us know and we will make sure to include fixes to bugs, improvements to the user experience, or feature requests for newer wallet releases.
Thank you for your continued support.
3-Dimensional Chain (3DC) Simplified: Paper by Community Member Garrett Steele (Spaid on Slack)
Thank you to Nexus Community member Garrett Steele (Spaid on Slack) for his extraordinary article titled “3-Dimensional Chain Simplified”. The Nexus Core participated in bringing it to fruition and helping to spread the word about the FIRST 3D-CHAIN, which solves the ongoing blockchain problems of speed, security and scalability. This paper delves deeper into the architecture. Community support is what makes Nexus spread, so please hop in and show Spaid some love. Please enjoy. NEXUS: THE WORLD’S FIRST 3D-CHAIN!
Garrett’s contribution can be found here:
Necessity is the mother of invention, and the Nexus Hub is a new idea we conceptualized to help organize Community members who are eager to help out with the project. We are very excited about this initiative and the implications for decentralization and the utilization of the amazing minds in our Community. Two of our Nexus Core members have worked to lead the creation of this powerful resource: Jacynda Smith and Mike Casey. People looking to be a part of the Nexus Hub can go to our Nexus Earth Facebook Page here:
or click this link:
Those interested can answer a series of questions. Then, with your permission, you will be placed in an approximately 8-person pod. Each pod will have a focus based on the talents and passions of the individuals that make up that pod. We like to think of these pods like nodes in a network, working independently but all connected and working towards the common goal of changing the world via Nexus. The Nexus Hub is experimental and we are working on processes to facilitate this undertaking, so remember we are building this together and we will need your help. With the proper amount of effort and patience we can demonstrate how to organize a large Community of people towards a common goal in a decentralized manner.
Highlighting our Community: April Henderlong (Aries on Slack) &
Garrett Steele (Spaid)
Out of their love of Nexus and to help spread the word both Spaid and Aries have stepped up in a great way. Spaid took the initiative to draft an interpretation of the 3D Chain (3DC), as mentioned previously, and Aries has been behind the scenes creating graphics for many things including the Binance (BNB) submissions and the Nexus Hub. We appreciate her dedication working at all hours to make Nexus stronger.
For their contributions we are rewarding each of them 111 Nexus. We know that during the infancy of crypto, rewards and tips were some of the biggest transactions, and we would like to keep that crypto tradition alive. Congratulations and thank you Aries and Spaid.
We are pleased to announce that we will be celebrating and rewarding Community members going forward, and look forward to announcing details in future newsletters.
Nexus on UpBit: South Korean Exchange
We are also pleased to announce that UpBit, the South Korean exchange and mobile app, has added Nexus to its trading database. Bittrex is collaborating with Dunamu to launch UpBit in the South Korean exchange market, and all 111 cryptocurrencies that are currently listed on Bittrex will be integrated into the exchange. Look for us there, South Korea! Find Nexus here when it goes live on UpBit: https://upbit.com/exchange?code=CRIX.UPBIT.BTC-NXS .
Read the full article here:
Some Community members newly looking to join our Nexus Slack might have experienced trouble with our auto-invite option this past week. Spam bots infiltrated our Slack. We took countermeasures to ensure we have fewer bots joining, and spam is at a minimum. We are happy to announce that we resolved the issue with Slack, and we are up and growing our amazing Nexus Community. WE ARE NEXUS!
Texas Bitcoin Conference with Nexus
Dionna Bailey, Ambassador for the Nexus Embassy, represented Nexus at the Texas Bitcoin Conference in Austin, TX October 28th & 29th. Nexus had a booth set up for people to come by and learn about Nexus. Dionna also made a speech on behalf of Nexus on Saturday, “Beyond Bitcoin.” She educated her audience about what differentiates Nexus from other cryptocurrency and blockchain technologies, and spoke about how Nexus has changed her life.
You can watch Dionna’s full speech here:
Nexus Reddit Update
Thanks to a huge Community drive we are proud to announce that our subreddit, (r/nexusearth) has just passed the 1,000th subscriber mark. A special shoutout to Preston Smith (Pdogg on Slack), Mike Casey (MikeCasey on Slack), Scott Simon (SS36 on Slack) and Glen Luyckx (MrProbz on Slack) for being active and answering questions. This is a big Community milestone for Nexus.
Nexus Conference Highlights: At a Glance (continued) & New Developments
Dave North, “The Blockchain: Changing the World of Business”
A very impactful talk at the Nexus Conference came from Dave North, President and CEO of Sedgwick, the largest insurance provider in the world. Dave has over 35 years of experience in risk management services and is a frequent speaker at conferences of Fortune 500 companies around the world. Dave is a celebrated repeat entrepreneur and thought leader and we were honored to have him at the Nexus Conference.
Dave North said he was at the Nexus Conference because “he wants to be in the room where it happens.” He then described what he deemed the antiquated insurance claims process. Why? He believes blockchain will be the solution to revolutionize the industry. He is currently working on a board with approximately 30 insurance providers to address how blockchain can modernize and streamline the insurance industry. He noted that “if he doesn’t figure this out, someone else will,” and that he, like the industry, will become outdated. Dave’s talk was very inspiring and well crafted as he addressed how hard people work to get to the pinnacle of their industry. Then they have to work twice as hard to stay there. Dave had some advice for Nexus and the blockchain world: Ensure we speak at Fortune 500 companies’ conferences and spread the word that the blockchain revolution is here and teach the world how to use it. Let’s get to work solving the world’s problems. We couldn’t agree more, Dave, and together, Nexus is ready to change the world. Thank you for the inspiring talk.
Here is a link to watch Dave North’s full speech:
Peter Schiff vs. Max Keiser Debate: Bitcoin Bug vs. Gold Bug
Bitcoin rose in market capitalization this week. It hit a high just over $121 billion surpassing the worth of Goldman Sachs or JPMorgan and feeding the ongoing media debate of gold vs. Bitcoin. Peter Schiff (of CNBC) and Max Keiser (of The Keiser Report) faced off in this debate, moderated by Stacey Herbert at the Nexus Conference in Aspen.
The debate started with a comparison of Peter Schiff to Jamie Dimon. Peter spoke of his disagreement with Dimon, who doesn’t see current risks in our financial system or the dollar. The debate then covered how people view Bitcoin versus how they view gold. Schiff described buying gold as a store of wealth. Keiser said gold is a safe haven, as Bitcoin is a safe haven, in that it fills the requirements of a safe haven. Schiff debated the point, stating that because Bitcoin is so young, it has no track record and is a risk asset. He noted that Bitcoin could be at $5,000 next week as easily as $3,000, and therefore, how is Bitcoin safe? (Bitcoin was at approximately $3500 at the time of this debate.) Bitcoin is the most risky asset in existence right now, he noted further.
Max Keiser stated that gold was as unique as Bitcoin. Schiff countered, saying that there are other cryptocurrencies more valuable than Bitcoin, but there is no metal more valuable than gold. Keiser said that was Schiff’s opinion and not fact. Schiff noted that there will be so many more cryptocurrencies that will come around, and some may be better than Bitcoin. He asked who knows what the supply of Bitcoin and Bitcoin spin-offs (like Bitcoin Cash) will be, not to mention all the other cryptos that will inevitably come along. The supply of digital currency is huge. Max Keiser argued that the market is supporting this large supply because of the problems in the banking industry that Bitcoin addresses. Schiff commented that there is “ a lot of demand because there are a lot of fools trying to get rich, but that the supply is going to overwhelm the demand and the price is going to collapse.” He asked Keiser what the lowest price was that Bitcoin could fall to, and Keiser replied that that’s a function of the cost of mining, which is approximately $1000 per Bitcoin. Just like in the mining industry, when the cost of mining is more expensive than the value of what you are mining, mining stops. Schiff said that at that point, creating supply stops, yes, but you still have a huge supply already in existence. Keiser replied that supply will not outpace demand and cause a crash, as we have only scratched the surface of demand for cryptocurrency due to the hundreds of trillions of dollars in derivatives that are collapsing around the world and the debts that are skyrocketing. Of course they have to collapse because you cannot move to negative interest rates, he noted. You can’t incentivize people to lend money to the government at a guaranteed negative rate of return.
The debate became quite heated, with lots of great points made. Watch the entire debate here https://youtu.be/cP1pSR1O44w Following the Nexus Conference and this debate, Goldmoney – the company Peter Schiff is an investor in and advisor to – went on to offer clients the opportunity to purchase gold and other metals with cryptocurrency. In a letter to its customers, Goldmoney stated: “From today, Goldmoney clients with full verified holdings are able to fund their holdings using digital assets, such as Bitcoin and Ethereum, to purchase precious metals.”
Roger Ver announces FreeSociety.com
Roger Ver (Bitcoin.com) came to the conference with breaking news, releasing a new project he is working on, FreeSociety.com. In speaking with Ver just before his talk, he informed Nexus that he had decided to switch the topic of his speech just prior, from Bitcoin Cash, to announce FreeSociety.com, his next step after Bitcoin.
FreeSociety.com is purchasing sovereign land from a government to create the world’s first Libertarian country. Roger Ver (Co-Founder) and Olivier Janssens (Founding Father, CEO), early Bitcoin adopter and Libertarian, are the founders. Ver talked about being a voluntarist, someone who thinks that all human interactions should exist on a voluntary basis – or not at all – and how this will be important for participants of this new society. They have been speaking with many different governments who were all very interested. Ver spoke to what this Free Society can do for these governments, including clear their national debt, provide financial prosperity by providing economic freedom, and provide tremendous employment opportunities. They have over $100,000,000 in US capital committed to the project, raised from many libertarians that have made money in the cryptocurrency space and who are dedicated to the vision. Ver took audience questions but was not ready to reveal too many specifics. We look forward to hearing more and following this Free Society at https://www.freesociety.com.
Here is a link to watch Roger’s full speech,
YouTube Live: Thursday, October 12th Q&A Highlights
These are some highlights from the YouTube Live that took place on October 12th with some members of the Nexus Core team. (The Q & A’s are transcribed verbatim)
Q: “Will Tritium release with a mobile wallet and can we expect any NFC functionality in the future?”
Q: “Can you explain what separates the Nexus 3DC from a traditional (1D) blockchain?”
A: “Essentially, Bitcoin is a glorified linked list, like for a computer program, which means that every block links to itself. Every new block has to have that link previous to it hashed in there, so that work itself is done. You can’t rewrite all of that data. But its one dimensional in that it’s like a flowing river and if you have more water that needs to flow through that river, it’s going to back up and create a dam. So what we are doing with the 3DC is allowing it to expand out in multiple directions as it’s needed (as opposed to just one direction), but they will be chained that way too (so it’s chained out on three planes) and be weighted down and up with the Trust and the actual computation. We are also removing the mining pools from it by making it a decentralized mining pool where the miners can do the processing. The 3DC also has three different tiers or layers of verification. Your transaction locking done at the base, which can be done on cell phones around the world, which is something we are working on formalizing at Nexus. Not everybody has money, but everybody has time.”
“The staking system that we have now with the Trust System we have now building up your Trust and interest rate was your first step in that. But then we are like transactions can be free and people can run this app on their cell phones. Some people in Africa have cell phones but they – don’t even have fresh water, so that’s something that really puts it (the technology) in everybody’s hands. The locking happens on that, and then you have the Trust Level Locks on the Second Level with the Merkles, and then the Miner Level Locks on the top (Third Level Locks) that are verifying the same data themselves and agreeing upon that data creating a mining consensus instead of one hash rules all. So the cool thing about this too is as the contracting systems evolve, like they are evolving on the Tritium code base and they are obviously going to be expanding on Amine Vault and then Obsidian Mine is that miners are doing a lot of work so a lot of the generic processing like Bit Wise operations or Arithmetic or anything else like that can be done by miners and cross links to the the contracts can be processed in three steps. So memory requirements can be done by the Trust Nodes and then miners can be doing a lot of the actual generic processing, which is really cool because that architecture allows us to create a truly distributed computing model instead of a flood giant network computer that has to process the same thing over and over again. This really allows us to open the doors to organic scalability where the node count builds the scalability rather than reduces it.”
This concludes our November Newsletter. We send our warm wishes for a Happy Thanksgiving with your family, and look forward to communicating with you next month.
The NEXUS Team