Phore PHR to Nexus NXS Exchange

Crypto Pair Details: PHR to NXS

Phore PHR

Grounded in sound technology, Phore is composed of a decentralized blockchain, a network of masternodes, a self-governance system, and several other innovative technologies. In addition to hosting a decentralized marketplace, Phore offers crowdfunding, public and private blockchain services, decentralized applications, all with the help of its utility token, PHR. Phore is a new name in the cryptocurrency market. In fact, it did not have an ICO or pre-sale mining. However, the company has a well-stipulated roadmap for the future. Its most recent progress was the integration of the Phore Blockchain into the marketplace. One of the milestones for 2018 is the activation of Segregated Witness. Phore started out as KryptKoin back in 2014. KryptKoin’s lead developer had to stop the project due to a serious disease. The demise of KryptKoin was followed by the creation of Phore in 2017. Phore’s blockchain system operates on the Proof of Stake (PoS) protocol for the purpose of mining. Users are rewarded on the basis of their participation on the platform and the number of stakes they hold. The staking rate is 2.8 PHR per 60 seconds, which means users will receive 2.8 PHR for every block they own after every 60 seconds. The blockchain employs master nodes to fulfil the purpose of security on the Phore network. A minimum of 10,000 PHR is required to enable master node security. The set up process only requires a Virtual Private Server (VPS) and a PC. Masternodes serve additional security to the funds even when the wallet is offline. The targets for Q1 2018 include the development and release of web and Android wallets. The plan is to increase PHR accessibility with the help of wallets. The team plans to work on wallet and core upgrades the whole year long. They also intend to create an automated setup for master nodes. Phore has built an enthusiastic and dedicated community of users despite its new entry in the market. The variety of services that it offers with its innovative technological infrastructure indicates a positive future market growth and an expanding user base. With a team of expert individuals like Moonshot, the CTO with over 25 years of work experience in financial technology and young developers like Julian Meyer, Phore emerges as a promising investment opportunity.

Nexus NXS

Nexus is the first truly quantum-resistant blockchain, incorporating advanced cryptography designed to negate the threat posed by quantum technology of the future. The 3DC combines 571-bit private keys, 1024-bit Skein and Keccak quantum-resistant hashing algorithms, and an evolving signature scheme called signature chains. Signature chains update the private and public keys that secure your address and obscures them after each and every transaction, maintaining the integrity and security of your account even on mobile wallets. Signature chains offer several advantages over equivalent quantum-resistant schemes such as BLISS and Lamport signatures, being extremely compact and lightweight, making it ideal for blockchain applications. The Nexus coin (NXS) is the currency of the network. There’s no cap on the amount of NXS that will be minted. Instead, the coin has a 10-year distribution period in which 78 million NXS will be distributed until September 23rd, 2024. After this time, the supply will inflate each year by a maximum of 3% through the holding channel and 1% through the prime and hashing channels. Nodes create blocks, on average, every 50 seconds, and an NXS transaction requires 6 confirmations. Currently, most transactions cost 0.01 NXS. However, once the 3DC is built and 10-year distribution is complete, transaction fees will disappear. Instead, the system will absorb the fees through inflation. Nexus didn’t hold an ICO. Instead, the project has a Developer Fund that takes a small commission from mining rewards. This commission starts at 1.5% and increases to 2.5% over 10 years. Additionally, 20% of the block rewards are slotted for marketing as well as the production and launch of the Nexus satellite network. Colin Cantrell, also known as Videlicet, is the founder and lead developer of Nexus. He first named the project Coinshield (CSD) when starting in September 2014. The original code only contained the prime channel; the team added the hash channel in October 2014. In April 2015, the team rebranded to Nexus, and they added Proof-of-Holdings in July 2015. Besides partnering with Vector on the satellite network, Nexus has also joined forces with SingularityNET to provide their 3DC architecture to the project’s decentralized AI network. Moving forward, Nexus is releasing major updates following their TAO (Tritium, Amine, Obsidian) roadmap strategy. The releases include the 3DC, mobile wallets, quantum resistance, and the satellite network, among many other things. The creation of new NXS is capped at 3 percent per year and is earned through securing the network by mining or staking. The platform is developed and maintained by the Nexus Embassy who is funded through a 1.5% commission on each block produced and from funds acquired through early mining of NXS. The commission will also gradually increase from 1.5 – 2% over the next 10 years.

SOURCE: COINGECKO

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