Nexus - Pure SHA3 + CPU/GPU + nPoS + 15 Active Innovations + More to Come

[Will-o-the-wisp]

Just listened to the podcast, very interesting vision for the future. Following this project closely.

[Namsbreh]

Also, if anyone has a better name for these keys, we would like to hear it.  

Now that the recyclers will not be absorbing sh*tcoin economies, I agree a different name is needed.  Unfortunately I have no suggestions for names atm.

[Crypthos]

I have been looking at different coins and this one is one of the best I have encountered, you offer a lot of features in this project that other coins with millions of dollars marketcap don't have, I think this project could make it in the long term, just a few things that I would like Videlicet to answer when he is available to do so.

1 - If this project is going to make it global and have mass adoption there is a feature that I haven't seen here and that is fungibility - Dash - coinjoin kind of function or anonymity like Monero. One of the mayor problems that will have to be solved on Bitcoin is the pseudo-anonymity that it has as transactions can be traced on the blockchain, the best option that I have seen is Monero, as the Dash "Darksend" asks you for 1000 coins to do your coin mixing and people just wants the easiest and quickest way to operate their crypto in a secure way. I think bitcoin is going to implement BIP47, what are your thoughts on that?, and how Nexus will fix this?, because is going to pop up in the future of Nexus.

2- im not a programmer or have knowledge about computing but in the podcast Videlicet said  Nexus is multi-threaded, I was reading the specs of Bitshares and they are going heavy on single-thread crypto. here is the link    https://bitshares.org/blog/2015/06/08/lessons-learned-from-bitshares-0.x/   and go to "Embrace the Single Threaded Reality of Blockchains"  , after reading this the question is what is better for a crypto?, to be single or multi-threaded? and Why?
 
3-Blockchain size, if you see the bitcoin blockchain size charts you'll see is groing quite fast, still is not a problem with 50gb at the moment but as they plan to increase the block size, in a couple of years the blockchain will be massive, so the average Joe wont have it on his laptop to secure the network, it will need special data centers for containing the blockchain which will lead to centralization, how is Nexus planning on fixing this bitcoin issue, as again if Nexus makes it and becomes a mayor crypto this will be a problem in the years to come.

Sorry for my English guys is not my native language, I hope Videlicet answer this issues and we can plan the best crypto for the future which hopefully will be Nexus.

[Videlicet]

1 - If this project is going to make it global and have mass adoption there is a feature that I haven't seen here and that is fungibility - Dash - coinjoin kind of function or anonymity like Monero. One of the mayor problems that will have to be solved on Bitcoin is the pseudo-anonymity that it has as transactions can be traced on the blockchain, the best option that I have seen is Monero, as the Dash "Darksend" asks you for 1000 coins to do your coin mixing and people just wants the easiest and quickest way to operate their crypto in a secure way. I think bitcoin is going to implement BIP47, what are your thoughts on that?, and how Nexus will fix this?, because is going to pop up in the future of Nexus.

Ring signature are by far the best as done in Monero rather than coin mixing which is still traceable to some extent if one can determine the flow of the mixers. I have stayed away from anonymous transactions due to the fact that building a new financial system such as Nexus, it is going to be in direct competition to banking systems, which means any reason they have to attempt to make it illegal they will use, and looking towards the future if the transactions were all entirely anonymous that would be a weapon they could use against us, so pseudo anonymous works in my taste, so one can still conceal their identity to their coins, but governments of the world will not have the excuse to say it is a "black market currency" used to fund "terrorism" with no way to "track the flow of money".

2- im not a programmer or have knowledge about computing but in the podcast Videlicet said  Nexus is multi-threaded, I was reading the specs of Bitshares and they are going heavy on single-thread crypto. here is the link    https://bitshares.org/blog/2015/06/08/lessons-learned-from-bitshares-0.x/   and go to "Embrace the Single Threaded Reality of Blockchains"  , after reading this the question is what is better for a crypto?, to be single or multi-threaded? and Why?

Multi Threaded allows different parts of the protocol not be slowed down by other parts such as if there is a large dust spam transaction attack, single threaded would slow block processing, where multi threaded could allow blocks to propagate as normal while the transaction LLP banned out dust spam nodes, so in other words one part of protocol won't slow down the rest of the protocol.

3-Blockchain size, if you see the bitcoin blockchain size charts you'll see is groing quite fast, still is not a problem with 50gb at the moment but as they plan to increase the block size, in a couple of years the blockchain will be massive, so the average Joe wont have it on his laptop to secure the network, it will need special data centers for containing the blockchain which will lead to centralization, how is Nexus planning on fixing this bitcoin issue, as again if Nexus makes it and becomes a mayor crypto this will be a problem in the years to come.

Layers of the Network, like layers of an onion. Each layer will get more to the "core" in which the lower your layer, the more network processing your node is generally doing. So think of the Core of the network as what I call the "Trust Network" in which they are awarded higher interest rates for processing blocks and storing the blockchain. Other nodes on outer tiers communicate with these trust nodes to ensure that their blocks they are receiving are legitimate, the same with transactions. These two layers can both be miners and stakers, where the core Trust Network is the only part of the protocol that needs to store the blockchain. The outer nodes then use the trust of each of their keys to determine what transactions and blocks happen relative to them. This gives incentive for some users to run a full Trust Node, and gives benefit of other users to not need to worry about maintaining an ever growing chain if all they want to do is hold / stake coins.

I hope this explains things better for you my friend.

Thank You,
Viz.

[macorcina]

............ This gives incentive for some users to run a full Trust Node, and gives benefit of other users to not need to worry about maintaining an ever growing chain if all they want to do is hold / stake coins. ..................

Thank You,
Viz.

This sound much better than current reward system,
it seems that my remarks and observations contribute to this new approach.

[Crypthos]

1 - If this project is going to make it global and have mass adoption there is a feature that I haven't seen here and that is fungibility - Dash - coinjoin kind of function or anonymity like Monero. One of the mayor problems that will have to be solved on Bitcoin is the pseudo-anonymity that it has as transactions can be traced on the blockchain, the best option that I have seen is Monero, as the Dash "Darksend" asks you for 1000 coins to do your coin mixing and people just wants the easiest and quickest way to operate their crypto in a secure way. I think bitcoin is going to implement BIP47, what are your thoughts on that?, and how Nexus will fix this?, because is going to pop up in the future of Nexus.

Ring signature are by far the best as done in Monero rather than coin mixing which is still traceable to some extent if one can determine the flow of the mixers. I have stayed away from anonymous transactions due to the fact that building a new financial system such as Nexus, it is going to be in direct competition to banking systems, which means any reason they have to attempt to make it illegal they will use, and looking towards the future if the transactions were all entirely anonymous that would be a weapon they could use against us, so pseudo anonymous works in my taste, so one can still conceal their identity to their coins, but governments of the world will not have the excuse to say it is a "black market currency" used to fund "terrorism" with no way to "track the flow of money".

2- im not a programmer or have knowledge about computing but in the podcast Videlicet said  Nexus is multi-threaded, I was reading the specs of Bitshares and they are going heavy on single-thread crypto. here is the link    https://bitshares.org/blog/2015/06/08/lessons-learned-from-bitshares-0.x/   and go to "Embrace the Single Threaded Reality of Blockchains"  , after reading this the question is what is better for a crypto?, to be single or multi-threaded? and Why?

Multi Threaded allows different parts of the protocol not be slowed down by other parts such as if there is a large dust spam transaction attack, single threaded would slow block processing, where multi threaded could allow blocks to propagate as normal while the transaction LLP banned out dust spam nodes, so in other words one part of protocol won't slow down the rest of the protocol.

3-Blockchain size, if you see the bitcoin blockchain size charts you'll see is groing quite fast, still is not a problem with 50gb at the moment but as they plan to increase the block size, in a couple of years the blockchain will be massive, so the average Joe wont have it on his laptop to secure the network, it will need special data centers for containing the blockchain which will lead to centralization, how is Nexus planning on fixing this bitcoin issue, as again if Nexus makes it and becomes a mayor crypto this will be a problem in the years to come.

Layers of the Network, like layers of an onion. Each layer will get more to the "core" in which the lower your layer, the more network processing your node is generally doing. So think of the Core of the network as what I call the "Trust Network" in which they are awarded higher interest rates for processing blocks and storing the blockchain. Other nodes on outer tiers communicate with these trust nodes to ensure that their blocks they are receiving are legitimate, the same with transactions. These two layers can both be miners and stakers, where the core Trust Network is the only part of the protocol that needs to store the blockchain. The outer nodes then use the trust of each of their keys to determine what transactions and blocks happen relative to them. This gives incentive for some users to run a full Trust Node, and gives benefit of other users to not need to worry about maintaining an ever growing chain if all they want to do is hold / stake coins.

I hope this explains things better for you my friend.

Thank You,
Viz.

Thanks bro all understood, you're right about the anonymity, with the current system they'll just use it to attack Nexus.

One thing I noticed from the promotion of the Nexus plataform in page 1 of the discussion it says
SPECIFICATIONS

Algorithm
SHA3 [Skien and Keccak]

it says Skien instead of Skein, little thing but we want it to be perfect for the newcomers.


May suggest also a Slogan for the plataform,   "Nexus, As Never Before" Or "Freedom As Never Before", "Money As Never Before", "Wealth As Never Before". Just some random ideas

Another suggestion I was thinking about is the tittle of the discussion, it says "Pure SHA3 + CPU/GPU + nPoS + 15 Active Innovations + More to Come", to tell you the truth I had no idea what SHA3 was until I read this thread, for us crypto-people this is how we talk and is amazing when we see all this specs, but for the average person that is coming here for the first time it may not relatable at all, SHA3 may not mean anything for a newcomer to the crypto world, wouldn't sound better instead to put first "Nexus [Niro] - The First Quantum Computer Hack Resistant Cryptocurrency", that may attract more the attention of the user and spark his curiosity because no other coin promotes SHA3 in this way, then in the introduction he'll understand what SHA3 is and the difference between 256bits bitcoin security against 1024-1600bits Nexus security plus the CPU/GPU + nPoS + 15 Active Innovations + More to Come. Again this are all suggestions, my grain of sand to try make Nexus better, cheers.

[pdogg147]

One thing I noticed from the promotion of the Nexus plataform in page 1 of the discussion it says
SPECIFICATIONS

Algorithm
SHA3 [Skien and Keccak]

it says Skien instead of Skein, little thing but we want it to be perfect for the newcomers.

Good catch!  Fixed.

May suggest also a Slogan for the plataform,  "Nexus, As Never Before" Or "Freedom As Never Before", "Money As Never Before", "Wealth As Never Before". Just some random ideas

Another suggestion I was thinking about is the tittle of the discussion, it says "Pure SHA3 + CPU/GPU + nPoS + 15 Active Innovations + More to Come", to tell you the truth I had no idea what SHA3 was until I read this thread, for us crypto-people this is how we talk and is amazing when we see all this specs, but for the average person that is coming here for the first time it may not relatable at all, SHA3 may not mean anything for a newcomer to the crypto world, wouldn't sound better instead to put first "Nexus [Niro] - The First Quantum Computer Hack Resistant Cryptocurrency", that may attract more the attention of the user and spark his curiosity because no other coin promotes SHA3 in this way, then in the introduction he'll understand what SHA3 is and the difference between 256bits bitcoin security against 1024-1600bits Nexus security plus the CPU/GPU + nPoS + 15 Active Innovations + More to Come. Again this are all suggestions, my grain of sand to try make Nexus better, cheers.

All are very good suggestions.

CURRENT FEATURES

SK-1024
•Using Skein-1024 and Keccak-1600 for GPU PoW to produce a 1024 bit output hash used for the block hash providing the highest security.

Released Reserves
•Decayed Amounts are deposited into the Reserves for each channel, preventing a miner from being able to mint more than the projected amount while difficulty is compensating to their amount of computing power.
also edited a small typeo which is underlined 
Edit: Underlined another typeo 

Also fixed these.  Thanks for the feedback all!

[Conqueror]

@Collin

Is your father Jim Cantrell?

[dbt1033]

@Collin

Is your father Jim Cantrell?

I believe he said that a long time ago.

[pdogg147]

@Collin

Is your father Jim Cantrell?

I believe he said that a long time ago.

Yes

[merc84]

1 - If this project is going to make it global and have mass adoption there is a feature that I haven't seen here and that is fungibility - Dash - coinjoin kind of function or anonymity like Monero. One of the mayor problems that will have to be solved on Bitcoin is the pseudo-anonymity that it has as transactions can be traced on the blockchain, the best option that I have seen is Monero, as the Dash "Darksend" asks you for 1000 coins to do your coin mixing and people just wants the easiest and quickest way to operate their crypto in a secure way. I think bitcoin is going to implement BIP47, what are your thoughts on that?, and how Nexus will fix this?, because is going to pop up in the future of Nexus.

Ring signature are by far the best as done in Monero rather than coin mixing which is still traceable to some extent if one can determine the flow of the mixers. I have stayed away from anonymous transactions due to the fact that building a new financial system such as Nexus, it is going to be in direct competition to banking systems, which means any reason they have to attempt to make it illegal they will use, and looking towards the future if the transactions were all entirely anonymous that would be a weapon they could use against us, so pseudo anonymous works in my taste, so one can still conceal their identity to their coins, but governments of the world will not have the excuse to say it is a "black market currency" used to fund "terrorism" with no way to "track the flow of money".

2- im not a programmer or have knowledge about computing but in the podcast Videlicet said  Nexus is multi-threaded, I was reading the specs of Bitshares and they are going heavy on single-thread crypto. here is the link    https://bitshares.org/blog/2015/06/08/lessons-learned-from-bitshares-0.x/   and go to "Embrace the Single Threaded Reality of Blockchains"  , after reading this the question is what is better for a crypto?, to be single or multi-threaded? and Why?

Multi Threaded allows different parts of the protocol not be slowed down by other parts such as if there is a large dust spam transaction attack, single threaded would slow block processing, where multi threaded could allow blocks to propagate as normal while the transaction LLP banned out dust spam nodes, so in other words one part of protocol won't slow down the rest of the protocol.

3-Blockchain size, if you see the bitcoin blockchain size charts you'll see is groing quite fast, still is not a problem with 50gb at the moment but as they plan to increase the block size, in a couple of years the blockchain will be massive, so the average Joe wont have it on his laptop to secure the network, it will need special data centers for containing the blockchain which will lead to centralization, how is Nexus planning on fixing this bitcoin issue, as again if Nexus makes it and becomes a mayor crypto this will be a problem in the years to come.

Layers of the Network, like layers of an onion. Each layer will get more to the "core" in which the lower your layer, the more network processing your node is generally doing. So think of the Core of the network as what I call the "Trust Network" in which they are awarded higher interest rates for processing blocks and storing the blockchain. Other nodes on outer tiers communicate with these trust nodes to ensure that their blocks they are receiving are legitimate, the same with transactions. These two layers can both be miners and stakers, where the core Trust Network is the only part of the protocol that needs to store the blockchain. The outer nodes then use the trust of each of their keys to determine what transactions and blocks happen relative to them. This gives incentive for some users to run a full Trust Node, and gives benefit of other users to not need to worry about maintaining an ever growing chain if all they want to do is hold / stake coins.

I hope this explains things better for you my friend.

Thank You,
Viz.

Thanks bro all understood, you're right about the anonymity, with the current system they'll just use it to attack Nexus.

One thing I noticed from the promotion of the Nexus plataform in page 1 of the discussion it says
SPECIFICATIONS

Algorithm
SHA3 [Skien and Keccak]

it says Skien instead of Skein, little thing but we want it to be perfect for the newcomers.


May suggest also a Slogan for the plataform,   "Nexus, As Never Before" Or "Freedom As Never Before", "Money As Never Before", "Wealth As Never Before". Just some random ideas

Another suggestion I was thinking about is the tittle of the discussion, it says "Pure SHA3 + CPU/GPU + nPoS + 15 Active Innovations + More to Come", to tell you the truth I had no idea what SHA3 was until I read this thread, for us crypto-people this is how we talk and is amazing when we see all this specs, but for the average person that is coming here for the first time it may not relatable at all, SHA3 may not mean anything for a newcomer to the crypto world, wouldn't sound better instead to put first "Nexus [Niro] - The First Quantum Computer Hack Resistant Cryptocurrency", that may attract more the attention of the user and spark his curiosity because no other coin promotes SHA3 in this way, then in the introduction he'll understand what SHA3 is and the difference between 256bits bitcoin security against 1024-1600bits Nexus security plus the CPU/GPU + nPoS + 15 Active Innovations + More to Come. Again this are all suggestions, my grain of sand to try make Nexus better, cheers.

Not sure if Nexus is the first crypto to implement quantum resistant cryptography, curecoin is also working on merkle tree implementation which provides resistance to quantum attacks.

Edit: Fwiw I like the slogan Money as never before.

[Stenull]

May suggest also a Slogan for the plataform,   "Nexus, As Never Before" Or "Freedom As Never Before", "Money As Never Before", "Wealth As Never Before". Just some random ideas

Think "Nexus, As Never Before" should be the core slogan. And then change the prefix depending on what we are directing the phrase at. Ex if we talk about transactions then use Money, As Never Before or if at the moment we talk from a technical point of view then perhaps Crypto, As Never Before or something like that if you get my point

[almond]

May suggest also a Slogan for the plataform,   "Nexus, As Never Before" Or "Freedom As Never Before", "Money As Never Before", "Wealth As Never Before". Just some random ideas

Think "Nexus, As Never Before" should be the core slogan. And then change the prefix depending on what we are directing the phrase at. Ex if we talk about transactions then use Money, As Never Before or if at the moment we talk from a technical point of view then perhaps Crypto, As Never Before or something like that if you get my point

Or in this case .......
Etymology, as never before !

[Crypthos]

Paycoin, Premine As Never Before =)

[Stenull]

Lol!!
You see, now we have a concept to build on

[tokyopotato]

Thank you everyone for your participation and feedback.  Thank you @pdogg for updating the OP, looks great!

[micle222]

When did Niro added to Poloniex trade

[Stenull]

When did Niro added to Poloniex trade

It did?

[Crypthos]

After learning here what a Chained Hash Algorithm is, today I discovered that the good old X11 hashing algorithm is actually 11 different hash algorithms together, does it make Dash with its X11 more secure than Nexus SK-1024 ?

[Videlicet]

Not really, Dash and X11 (11 SHA3 Functions) are all 256 bit output length to where SK-1024 is 1024 bit output length which means that SK-1024 is over 4 times as secure. It is a chain of Skein-1024 and Keccak-1600 (SK). Chained hashing protects against collisions if found in one of the hashing algorithms, but doesn't necessary provide as much security increase as increased output length. 1024 bits is a number of about ~308 digits.

Thank You,
Viz.