Nimiq $NIM

Nimiq is a decentralized, censorship-resistant payment protocol native to the web, with its own diverse ecosystem of apps. The native NIM token is transacted within Nimiq as a store and transfer of value and acts like digital cash. The cutting-edge, browser-first blockchain approach means that users directly connect to the blockchain with nothing more than a browser. Therefore anyone with an up-to-date browser can join the payment network directly, pay, and accept payments without having to install software or rely on unnecessary intermediaries.
The purpose of Nimiq is simple, to bring the benefits of cryptocurrency to a mainstream audience, by focusing on developing web-based functionality and a seamless UI/UX.

  • Concept Assessment

    Technological advancements in general and Cryptocurrencies in particular, no matter how advanced they are, if they are not simple and user-friendly to the majority of the population, they are destined to fail.
    Average users, normally tend to use tech that is simple and easy to use, the same thing applies to cryptocurrencies too; the crypto project that can provide services with better UI/UX and is easy to use for the general public will have the best chance of attaining mass adoption.
    Nimiq is the project that is working towards better UI/UX and giving a strong emphasis on mass adoption without compromising on decentralization and security. When using Bitcoin or Ethereum we have to rely on third-party nodes for executions as running a node on our own is simply not feasible. But when using Nimiq, your browser turns into a node in the Nimiq blockchain network.
    This means anyone using web browsers like Chrome, Brave, Firefox, and Safari can run a Nimiq node. This lack of reliance on third parties makes Nimiq a very censorship-resistant cryptocurrency.
    The Nimiq ecosystem aims to make it as simple as possible for users to exchange fiat currency for NIM, and vice-versa, and transact across the payment ecosystem for a really low fee. In short, Nimiq is all about making cryptocurrency simple.

  • Financial Competency

    Nimiq held a crowdfunding campaign in 2017 that raised $12.8M, and issued NET tokens (Nimiq Exchange Tokens) later converted on 1:100 basis for mainnet NIM tokens.
    After the swap deadline, all unswapped NET tokens were frozen. The NIM blockchain built from scratch in Javascript, utilises a Proof-of-Work consensus mechanism on the Argon2d hashing algorithm.
    It was launched in April 2018. At the time of mainnet launch, 12% of the maximum supply was already allocated for various purposes like token sale, the team, the Nimiq Foundation, and the Nimiq Charity and other similar costs and ventures. Thus the remaining 88% was available for mining/staking.
    NIM, the native token of Nimiq blockchain is the heart of an ecosystem of applications built by the community and the team alike. It is a cryptocurrency designed for the masses.
    The maximum supply is 21,000,000,000 NIM and the total supply is 7,015,250,549 NIM. The current circulating supply is 6,189,250,549 NIM with a Marketcap of $18,727,888 USD.
    NIM is currently listed on Kucoin, HitBTC, Hotbit and BTC-Alpha with a daily volume of $1,648,104 USD.

  • Business/Marketing Proposition

    Nimiq has numerous strategic partnerships and collaborations with multiple companies, some of the major ones are, collaboration with Trinkler Software for the launch of Albatross- Nimiq's advanced and fastest POS consensus algorithm network. Partnership with TEN31, the fintech arm of German WEG Bank AG to create a groundbreaking crypto-to-fiat bridge (OASIS).
    This partnership is further strengthened by Nimiq by acquiring a 9.9% stake in WEG Bank. Nimiq has also collaborated with Trust Wallet by integrating NIM token to their wallet.
    They have also partnered with Bidali, a digital commerce site dealing in gift cards where NIM holders can buy gift cards from over 150 top brands such as Amazon, Adidas, Ebay, Uber through their gift card platform.
    Nimiq is a non-profit and open-source project founded by some, developed by many and owned by none. As the project is community-driven it is developed by numerous developers that are tech-oriented, include both full time and part-time developers, and come from various parts of the world.
    Another interesting thing about Nimiq is that 2% of NIM maximum supply is allocated to Nimiq Charity which has the sole purpose of supporting projects of high social and ecological impact.

  • Execution

    Nimiq is blockchain technology inspired by Bitcoin but designed for the browser. Now with Nimiq version 2.0 rolling out in future, there are many features planned in the blockchain that build a solid foundation for the future. They are:
    Albatross: Nimiq’s unique Proof-of-Stake (PoS) consensus algorithm, is able to provide a high throughput of transactions (1000+ TPS) with eventual finality. Albatross is expected to launch in Q3 2020.
    OASIS: OASIS stands for the Open Asset Swap Interaction Scheme is a blueprint for a crypto-to-fiat bridge, which makes fiat currencies like the USD and Euro and assets like stocks behave as if they were tokens on the blockchain. It is an open technology and anyone can use and implement it.
    They have also announced that they intend to use this technology to offer a crypto payment solution for online merchants dubbed as ‘Nimiq Checkout’.
    Apart from this, they are making developments in Defi market too, there are also plans to introduce NFTs, Non-Fungible Tokens on the blockchain with help from OASIS platform.
    They have also launched Cryptopaymentdotlink, a service whose motto is to earn crypto instead of buying. It is for freelancers, artists, boutique business owners, and influencers who are open to accepting crypto as payments.

Ajoobz Evaluation

Concept
14/15
Whitepaper
Competitiveness
Scalability
Roadmap
Core Team
14/15
Identification
Business Team
Marketing Team
Development Team
Consultant/Advisors
Partnerships
PR
Media
8/08
Website
Twitter
Telegram
Discord
Reddit
Instagram
Facebook
YouTube
Marketing Capabilities
18/22
Marketing Strategy
Media Connection
Financial Capabilities

32 /40
Private Placement
ICO/IEO
Existing Project

Conclusion

Cryptocurrency adoption has always been a major issue and Nimiq with its simple and amazing UX/UI, is offering a super easy to use payment system. This alone gives it huge leverage on other crypto projects for mass adoption. It is also one of the few projects that have released a transparency report. With its slick user experience and easy accessibility, and version 2.0 on the rollout, Nimiq is one of the most promising crypto projects worth watching.