NIX (NIX) Research, Project Updates, News and Information For KuCoin Users

nix project updates information and news

Flare Desktop Wallets Powered By NIX Platform Now Available

NIX has just released their new privacy-focused wallet, we invite all KuCoin users to read their PR release and try out the new wallet:

Flare Wallet Overview

Flare is a multi-asset privacy-focused cryptocurrency light wallet. All keys are managed locally and completely secured and encrypted by the end-user with a simple 12 seed mnemonic phrase backup. There are no servers that manage your wallets for you- YOU control everything. We believe it is important to create a wallet interface that is both fashionable and simple to use while giving it as much power as possible. Being a multi-currency privacy-focused wallet, it will also include and focus on several privacy/security features:

 

flare wallet release

 

  • Networking privacy: Flare will have the option of being routed through Tor networking to give users the best possible network privacy when sending/receiving/swapping.
  • Coin-Control support (after beta): Flare will give users the ability to control their inputs for each transaction for coins that utilize UTXO sets. Benefits of this will be outlined below.
  • Decentralized privacy swaps (after beta): Flare will allow users to swap their coins within the wallet using decentralized methods while using the NIX protocol to break linkage between swaps.
  • Hardware wallet support (after beta): Being able to use your Ledger/Trezor for supported coins within the wallet to ensure highest possible asset security.

For users who value their privacy, Flare will give the best support possible in any multi-currency wallet available. For users who are just looking for a secure wallet that supports/will support many popular coins for them to store their holdings, Flare will do just the job. No tricks, no signups, all decentralized.

Out of the Box Features

To get a better understanding of where Flare is headed, you can check out this article.

With the current version(0.0.1b), available features are:

  • BTC/ETH/LTC/NIX Integrations
  • Send/Receive Functionality
  • Private Mnemonic key Backup
  • Transaction History Export
  • Portfolio Balance Tracker

As we develop and push out further updates, you can expect more features being added. Future updates will include (but not be limited to):

  • UTXO Coin Control Support for UTXO Based Coins
  • Hardware Wallet Integrations (Trezor/Ledger)
  • Network Privacy Support (Onion Routing)
  • Cold Staking for Supported Coins
  • Privacy DEX Swaps for Supported Coins
  • Mobile (iOS & Android) Full Featured Wallet

 

Read the original announcement here.

NIX Gets Listed On KuCoin Exchange

Dear KuCoin Users,

KuCoin is extremely proud to announce yet another great project coming to our trading platform. NIX (NIX) is now available on KuCoin. Supported trading pairs include NIX/BTC and NIX/ETH.

Please take note of the following schedule:

  • Deposits Effective Immediately
  • Trading: 18:00 May 16, 2019 (UTC+8)
  • Withdrawal: 18:00 May 18, 2019 (UTC+8)

 

NIX Company Summary

 

NIX is a multi-layered privacy currency which utilizes an interoperable platform model to fuel privacy-focused decentralized applications (dApps). NIX utilizes its custom-tailored Ghost Protocol which is a unique, complex and fluid arrangement of sub-protocols including Commitment Key Packs, Zero Knowledge Proofs, Sigma, Tor, and Dandelion. As a second layered development, NIX platform will enable the first privacy-based decentralized exchange manager. This system will allow for privacy trading among non-privacy focused DEX’s. Simply said, NIX plans to integrate various DEXs into one platform, while adding privacy layers to atomic swaps.

The platform also utilizes master nodes, called “Ghost nodes”, in order to facilitate transactions via the NIX privacy protocol. Ghost node holders will receive rewards, both as a percentage of every block created and also for every NIX transaction they process. Additionally, the NIX wallet includes the ‘Ghost Vault’ feature. Sending NIX tokens to the vault effectively ‘ghosts’ them – making them private to everyone except the owner, until they choose to send them anonymously to someone else or ‘unghost’ them to make them public again. As the project states, in the future, The NIX Platform will serve as a platform on which third-party developers would be able to build their own decentralized applications that utilize NIX’s privacy protocol.

 

NIX Links

 

NIX Official Website

Medium

Twitter

Discord

Telegram

Bitcointalk

Reddit

LinkedIn

Facebook

YouTube

 

NIX Whitepaper

 

Business Plan

NIX presents a relatively detailed and quite technologically oriented, 23-page long whitepaper that describes NIX's main purpose – to become the best-in-class privacy layer to any blockchain.

NIX intends to be and is introduced both as a next generation privacy currency and multi-layered interoperability platform. It is designed to fuel anonymity-focused decentralized applications and smart contracts. The document begins with an introduction of the current blockchain cryptocurrency state and issues, followed by the objectives and the purposes behind the concept of NIX. It reveals the details and features for the NIX Ghost Protocol and the NIX Multi-Layered Scheme and goes into comprehensive descriptions of the four main layers: the Protocol, Utilization, Communication and DApps layers. The whitepaper concludes with brief statements about the Core Beliefs of the NIX project, its block specifications and NIX's vision for the future.

Technical Description

NIX's whitepaper describes, in detail, the specifics for every technological aspect. It reveals the team's plan to establish an ecosystem of asset distribution with the added power of privacy. The project is proposing the use of a series of strong intra-chain privacy elements like the NIX Ghost Vault, the 2-Way Ghosting, and the LPoS (leasing proof of stake) consensus algorithm. To deliver those features, NIX introduces the NIX Ghost Protocol, designed to use the mechanisms of Sigma’s privacy proofs, paired with one-time integrated Sigma addresses, and combined with a Tor network that offers OBFS4 bridging and communication. Additionally, NIX would provide an atomic swap infrastructure to allow private transactions between different chains. The document gives details for its Privacy Features and a further description of the Multi-Layered Scheme of NIX. The project has also prepared a separate document for the Commitment Key Packs based on Pedersen Anonymous Deposits, as well as a document revealing the governance of the NIX platform.

Legal & Disclaimers Description

No legal disclaimers are provided in the whitepaper. However, there are separate “Terms and Conditions”, “Privacy Policy” and “Cookie Policy” documents located on the official website. The Terms document contains a legal disclaimer, stating the project's compliance in accordance with the laws of the Netherlands.

Team and Advisors Description

No team or advisors information can be found in the whitepaper, but they are presented on the official website, divided into five categories, with their full names and job titles. Most of them do not have photos or social media links. Only the two advisors are presented with short descriptions of their previous experience, one of the advisors is the well-known, by the crypto community, Charlie Shrem.

Roadmap & Milestones

No roadmap is presented in the whitepaper. Still, the website shows a relatively detailed roadmap with a one and a half year span. It begins with the release of NIX's mainnet in June 2018 and concludes in Q2/Q3 2019, when the project will release the Dex Manager v1.0 and enable the development of sidechain tools and resources on the NIX mainnet.

 

Team and Advisors

 

CEO Background

The Lead Blockchain Developer and founder of NIX Platform, Matthew Tawil, presents himself as a blockchain product engineer also involved in Chainworks LLC and previous developer to several other cryptocurrency projects. Matthew holds a Bachelor's degree in Electrical and Computer Engineering from the University of Texas at Austin and has been involved with crypto since 2016.

Team background

Another developer for the NIX Platform, Pieter Hamels, is the former owner and consultant of Gconnect.be and a manager of The Cable Company and webXtend, both Belgium companies. He has not specified his degree or field of study but provided only the name of the university – Miniemen Institute.

Part of the Research & Development team of NIX, Mario Torres, claims to have four years of experience in logging and to be always looking for new opportunities to improve. He has past experience from Baker Hughes and a Bachelor's degree in Mechanical Engineering.

Team Skills, Experience, and Structure

The team behind NIX consists of 18 enthusiasts in blockchain and cryptocurrencies, PR & community management, design & marketing. There are no executives positions appointed to any of the team members. Also, there are no team members with experience in business development. Some of them have not provided their full names, photos or profile links.

Advisors Background, Experience and Community Feedback

NIX is advised by two respected professionals: Dr Sriram Vishwanath is a professor involved in the Electrical and Computer Engineering department at The University of Texas at Austin.

Charlie Shrem is a Bitcoin advocate, successful entrepreneur, and early founder of the Bitcoin Foundation.

 

Project Potential 

 

Venture Capitals, Hedge Funds, and Other Investors

No information for any venture capitals or other institutional investors involved in the funding of the project.

Partnerships

NIX announced that they have partnered with Blocknet, Chainzilla, CryptoWOO, Whooper, and SwirlPay.io.

Market Makers

No indications for active market makers involved in the influencing of NIX's trading volume.

Token Lockups

No information for token lock-up procedures.

Speed of Selling Out the ICO

The project did not organize a public sale.

Token Airdrops

NIX organized an airdrop event in May 2018.

Hard Cap Amount

The project did not organize a public sale event.

Type of Blockchain Technology

The NIX Platform’s first use case will be a privacy-based, decentralized exchange manager. This system would solve privacy layers among DEX trading, creating a security layer for any protocol and tradeable asset through a multi-tiered private trading structure. Every integrated DEX would act as a node in order to perform cross-chain private transactions thanks to NIX's DEX Manager. The combination of multiple DEXs with the Ghost Protocol is expected to guarantee complete decentralization and privacy placed into one user-friendly application.

Besides that, NIX claims to be a multi-layered privacy currency, which utilizes an interoperable platform model, in order to fuel privacy-focused decentralized applications. By definition, it covers 4 main layers: Protocol Layer (containing the consensus mechanisms and privacy protocol design), Utilization Layer (includes tools and features like the Ghost Vault and 2-Way Ghosting), the Communication Layer (accounting for interoperability between chains), and the dApp Layer (extends to dApp development and use cases such as the DEX Manager).

Tokens Sold on Public Sale

NIX announced that 87.55% of the total supply was claimed.

Community Feedback

The overall talk on the project under most YouTube reviews, other forums, and Telegram can be classified as neutral. Many people are expressing their optimism and hopes for the price going up, but many are disappointed because of the low trading volume and current price. No negative/scam accusations were found.

 

Technology & Development

 

Product Development Progress

According to the roadmap, the project has already launched its mainnet (June 2018). The team is currently developing off-chain governance and integrating sigma, a new scalable zero-knowledge protocol, which is expected to go live in Q2 2019. Along with these additions, the first version of the DEX manager is planned to be released in Q2 2019 as well.

Blockchain Technology Usage and Innovation

NIX is designed to serve as a privacy currency and cross-chain privacy platform, with the aim to deliver anonymous and decentralized blockchain transactions.

NIX unveiled its address-less Sigma transactions (aka ‘2-way ghosting’). This extends Sigma technology so that completely private and anonymous transfers could be made using NIX   with neither sender or receiver public addresses.

Dependencies to Third Party Platform or Service

NIX platform has its own blockchain, and it is not dependent on any third-party platforms or services. In order to establish an ecosystem of asset distribution with the added power of privacy, the NIX Platform uses the NIX Ghost Protocol. This protocol is a personal privacy library, using the mechanisms from the Sigma privacy proofs, paired with one-time integrated addresses. This is also combined with a Tor network that offers OBFS4 bridging and communication.

Blockchain Advantage, Effects on the Market

The NIX Platform has the potential to be disruptive to its market segment because it offers integration of various decentralized exchanges into one platform while adding privacy layers to atomic swaps. That way, the users would be able to send, escrow, trade or hold their assets in a private manner without involving third parties. However, there is competition on the face of Komodo Platform, Zcash, Monero, Verge and other similar platforms.

Decentralization of the System

Currently, the NIX Platform is being developed and maintained entirely by its management and development teams. However, NIX states that, in the future, it would become a completely decentralized project, with no main teams nor development funding needed. Instead, there would be several teams working on different areas to update the core code, while offering various tool kits for other developers to create their own dApps using NIX’s privacy utilities. NIX’s development of off-chain governance already moves towards this goal.

System Security Measures

The project introduces the NIX Ghost Protocol. It consists of several privacy elements (to be built on top of). NIX platform is the first PoS coin that has enabled Sigma, coupled with Tor networking. Sigma helps scramble user data by creating a system that makes it impossible to guess the correct original location of assets. Integrated with a layering of Tor networking, users would have both blockchain and networking privacy. Also, the project introduces the NIX Ghost Vault, which provides full one-way privacy to the sender and receiver, and allows users to completely hide coins from the chain. Furthermore, NIX has crafted a “history privacy-in-one-transaction development” solution, called NIX 2-Way Ghosting. It would enable users to transfer their private coins from one vault to someone else’s vault.

To enable the 2 Way Ghosting, NIX designed and implemented a key scheme called Commitment Key Packs, in order to allow packing of Pedersen Commitments to act as one-time key formats for Sigma Deposits. Through this, a user can conduct full blockchain privacy payment without the need of using any groupable addresses on-chain, and instead, conducting transactions only using zero-knowledge commitment schemes.

We sincerely appreciate your support and understanding, we hope this information proves useful to all users and potential investors.

Regards,

The KuCoin Team.

Risk Warning: The cryptocurrency market is available worldwide 24/7 for trading with no market opening or closing times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. KuCoin screens all tokens before they come to the market; however, even with the best due diligence, there are still risks when investing. KuCoin is not liable for user’s investment gains or losses. The information we provide is for users to conduct their own research. It is not investment advice.

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