Nimiq describes itself as a decentralized, censorship-resistant payment protocol native to the web, with its own ecosystem of apps. The browser-first blockchain approach means that users directly connect to the blockchain with nothing more than a browser.
Nimiq co-created a new consensus algorithm called Albatross, which reportedly reaches the maximum theoretical limit for a single-chain Blockchain. This Proof of Stake algorithm is currently being implemented in the Nimiq Blockchain, adding: Staking, ~1sec confirmations and +1000 transactions per second.
Team Nimiq also created technology aimed at mass adoption like Nimiq OASIS, a non-custodial FIAT HTLC that allows users to buy/sell Crypto to Fiat directly, with no middle-man.
Nimiq is an open-source decentralized peer-to-peer payment protocol for the world wide web. By offering browser-based access, Nimiq aims to lower barriers to entry, and therefore increase blockchain adoption, for communities of new users who may be put off by the friction of using bitcoin and other cryptocurrencies.
What Is Nimiq?
Nimiq has a single vision: to bring blockchain adoption to the mainstream. It aims to achieve this through the development of a payment protocol that’s far easier to use for new market entrants than existing platforms.
Users can also mine NIM tokens easily, using only their web browser (more on that below). The entire setup is designed to avoid implementing any special software, meaning it’s lightweight and can run on any machine, even a mobile device.
How do I buy cryptocurrency?
While some cryptocurrencies, including bitcoin, are available for purchase with U.S. dollars, others require that you pay with bitcoin or another cryptocurrency.
To buy cryptocurrencies, you’ll need a “wallet,” an online app that can hold your currency. Generally, you create an account on an exchange, and then you can transfer real money to buy cryptocurrencies such as bitcoin or ethereum.
Coinbase is one popular cryptocurrency trading exchange where you can create both a wallet and buy and sell bitcoin and other cryptocurrencies.