Nimiq (NIM) Review & Analysis – Nimiq Token Review

Nimiq

The First Browser-based Blockchain

About Nimiq
Buy NIM

Network Token

Nimiq is a browser-based Blockchain designed for simplicity. Nimiq’s reason for existence is to bring the benefits of blockchain technology to the mainstream. To achieve that purpose Nimiq has been built from the ground up to address and break the barriers to entry that inhibit the mainstream adoption of blockchain technologies. Nimiq aims to be the best performing and easiest-to-use decentralized payment protocol & ecosystem.

The project is striving to combine state-of-the-art blockchain research and web technology. Nano clients synchronize in seconds. Nimiq is browser-based and installation-free and boasts a wide range of applications.

Nimiq Safe – Securely manage your Nimiq Accounts, Send & Receive NIM and Check Balances
Nimiq Miner – Participate in securing the Nimiq Network and get NIM as a reward for mined blocks
More Apps – Nimiq Desktop Miner, Explorer, Faucet, Exchange, Payment Facility and much more.

“Nimiq is encompassed by a strong philanthropic mindset, it will always remain open-source and community-driven. ”

Positives

The biggest strength we see in Nimiq is simply the ease-of-access to the platform. Anybody with a computer and a browser can get a grasp of what Nimiq is and how to use it within a few minutes. If one of the goals of Cryptocurrencies is to make it easy for people to be in control of their money without the need for a middleman, Nimiq is one of the simplest solutions out there. Seriously, anybody could use Nimiq. It gives us an old-school Raiblocks/Nano vibe and that says a lot.
Despite Nimiq being relatively under the radar, the community is super active and has plenty of keen developers working on community applications. Offical Nimiq Apps include Safe (NIM Wallet), Shop, Web & Desktop Miners, Blockchain Explorers and an easy to use token swap application for those needing to make the swap from NET to NIM tokens. Community Apps include a NIM Faucet, Addition Blockchain Explorer, Tipping Bots for Twitch, Reddit & Discord, Embeddable Website Miners Including a WordPress Plugin for Content Monetization, NimiqX Web Services API and even Nimipet, a Tamagotchi-like game based on Nimiq. We’ve only listed a few of the Community Apps available, check them out for yourself. It’s hard to understand why NIM is currently sitting at a $4m Market Cap when there are so many applications available to the public.
Taking a look at the Team, there is some seriously talent backing this project. | Robin Linus Designed, developed and open-sourced Snapdrop with more than 500’000 unique visitors since launch. Published privacy tools like Webkay to uncover personal data exposure with over 1.5 million visitors since launch. Revealed security issues through penetration testing (including Twitter and Google). He also implemented the world’s first prototype of a browser-based Blockchain. | Philip von Styp-Rekowsky is a PhD student to Professor Michael Backes at the Information Security and Cryptography Group at CISPA (Center for Cybersecurity, Privacy and Accountability). Built award-winning software AppGuard (over 2 million downloads, German IT Security Award) and Boxify (CeBIT Innovation Award). | Check the rest of the Team out and you’ll soon realize that Nimiq is in safe hands. Everybody is extremely well suited to this type of project. Huge Potential.
With Bitcoin transactions being incredibly slow and Ethereum transaction speeds grinding to a halt when the network is under heavy load, faster transaction times are becoming more and more necessary if we want to see any sort of mainstream adoption. Nimiq utilizes Hashed Timelock Contracts which allows for transactions to be made off-chain rather than on-chain, the result is super fast transaction times and often without the need to wait for block confirmations. We mentioned that Nimiq gave us a Raiblocks/Nano vibe and this is a big part of it, NIM makes it super easy to send funds from one person to another all through a browser such as Google Chrome while remaining just as secure and decentralized as you’d expect.
Nimiq has been around for a while now but we’re just starting to see it get more and more attention as the crypto market settles down and the focus for investors is to find projects with solid products. The Nimiq Team has obviously noticed this and through their Medium Blog, they’ve gone to work on making sure Nimiq is ready for the future. Check out one of their recent posts regarding the Vision, Mission & Marketing Plans for Nimiq over the coming months. Nimiq offers investors the perfect opportunity to get into a project that not only offers the first browser-based blockchain, but works on fixing what is currently holding back mainstream adoption of Cryptocurrencies. Keep a close eye on Nimiq into 2019.

Concerns

From what we can see, Nimiq doesn’t have a PDF Whitepaper available for viewing, just a Medium post detailing what Nimiq is and how it works on on a pretty easy to understand level. There’s plenty of Documentation available for Developers who wish to build on Nimiq, but not a whole lot of research resources for potential investors from a first glance. A Roadmap infographic is available, which is great. It’s worth noting that Nimiq have addressed this in a recent Medium post, detailing what how they’re going to move forward with Marketing and their overall image in the future, here they explain that a Whitepaper is in the works, so we’ll keep an eye out for any updates and will make changes to this section accordingly. A minor concern for now.
Nimiq is incredibly easy to use and has no barrier to entry. If you have a computer and a browser client, you can jump right in and start mining NIM. This obviously brings with it the possibility for big mining farms to operate pretty easily too resulting in some people having much greater power over the network than others. This is a similar case for most CPU mined Cryptocurrencies simply due to ease of access but it’s worth pointing out here. Again, not a huge concern but worth pointing out.
We really don’t have any other concerns regarding Nimiq. It’s still got a way to go but so far we’ve seen nothing but good moves being made by the Team. The NET/NIM token swap obviously caused a headache for some from what we’ve seen on social media, but that’s in the past at this point. It’s worth noting that although Nimiq is breaking new ground in the blockchain space by creating an easy to use, browser-based experience, it won’t be long before competitors try to copy this model and improve on it. Being first has it’s positives and negatives. We’ll be keeping a close eye on Nimiq and updating this review as they progress.

Price Predictions

Please note: This Price Prediction section was a feature voted on by our community on Twitter. We do not stand by any of the following statements, we are merely speculating. We have been known to be pretty bullish on most projects we review, so take our predictions and DYOR.
As always, we like to take a step back and look at projects from a purely investment based perspective. NIM will no doubt see a ton of organic price growth through exchange listings and planned marketing in the future, any investments now would have a pretty good chance of appreciating from these catalysts, although any investment in such a new project comes with risk. Now sitting just under a $5m Market Cap (October 2018), NIM still has a huge amount of growth potential in the long term based on fundamentals. The easy to use interfaces and the user-friendly design of all Nimiq applications makes it super attractive. We can see Nimiq making huge moves once people start to notice how simple it is to use. Now, onto everyone’s favorite, price predictions. Please keep in mind due to the lack of NIM price history, these are highly speculative guesses.
Short term (< 3 Months) We think NIM could be sitting anywhere from $0.005 to $0.01.
Mid Term (6 – 12 Months) we think NIM could be a stable $0.01 to $0.025, especially if the market turns around in the next few months.
Anywhere passed 12 months would be impossible to accurately speculate on but we’d be confident on a $0.10+ NIM in 1+ years. The current NIM supply is just under 2.2 Billion, so a $0.10 NIM would equate to a $216 Million Market Cap.
As with any investment into a low-cap project such as NIM, you absolutely must do your own research. We are by no means providing financial advice. Be smart!