NIX (NIX) Coin Review & Analysis – NIX Token Analysis

NIX

NIX Platform – Total Privacy For All

Network Coin

NIX Platform is a next generation privacy currency and multi-layered interoperability platform which fuels anonymity-focused decentralized applications (dApps), privacy swaps and smart contracts, providing the option of adding a best-in-class privacy layer to any blockchain.

NIX’s architecture is fundamentally multi-layered by design, built over four key layers:

The Protocol Layer: the consensus mechanisms and privacy protocol
The Utilization Layer: tools and features
The Communication Layer: interoperability between chains
The dApp Layer: dApp development and use cases

More features include:

Optional Privacy with Addressless Transactions – The unique Ghost Protocol delivers a best-in-class privacy option for any scenario while remaining accessible and simple to use. Watch how the Ghost Vault and 2-Way-Ghosting are here to make privacy worth using.
Earn Rewards Easily with Staking & LPoS – Standard in-wallet staking is extremely easy, but the real innovation is with LPoS. Service providers take care of everything while your coins remain in your complete control – no need to leave your computer running to earn rewards.
Ghostnodes are Next Generation Masternodes – Ghostnodes act to validate privacy transactions on the NIX blockchain, typically providing a higher return than staking from block rewards. Additionally, all fees generated from privacy transactions are distributed daily by smart contract.

“To create a powerful and decentralized system such as the one NIX aims to enable, there are multiple elements which hold core to the value and dedication of the project. To reflect on the partnership with Blocknet, the team at NIX believes that Blocknet shares the vision of a truly decentralized environment to help empower people all around the globe.”

Positives

A full year later and we’re back with an update on our original NIX review. To say the NIX Team has been putting in the work would be putting it lightly, check out this brilliant “One Year Anniversary” Medium Post by F.Y.Hai for a full overview of what they’ve achieved in just 12 months. NIX really takes pride in their ability to not only facilitate private transactions with full chain interoperability but also to provide privacy solutions for applications that require anonymity and a safeguard against prying eyes. Some of the tech they’ve developed and deployed over the past year is very impressive. “NIX is powered by the “NIX Ghost Protocol” which, with a recent update called “Sigma”, powers the network and ensures transactions are kept private. With NIX having crossed over from PoW to a PoS consensus method, investors can enjoy staking rewards and, with a minimum of 40,000 NIX, can run their own Masternode. While PoS is hotly debated regarding it’s security and vulnerability to centralization, NIX has taken the plunge and to be honest, it’s the way most innovative and new-age projects are heading – it just makes sense.
In terms of milestones and roadmap goals that often have investors foaming at the mouth, there’s a lot to take in here. In our original review there were a ton of goals, targets, release dates, etc and to be fair we took a stance of “believe it when we see it”. Well, we’re seeing it right now. Over 2019 NIX has released their mobile wallets including an iOS version, listed on various popular exchanges including Kucoin, added Trezor support, had a wide range of media coverage including mainstream avenues such as Fox and industry related sites like Binance, released a fully working Dapp called Flare Wallet and more recently, released NIX 3.0 which activated “Sigma” and Off-chain Governance. We highly recommend viewing the full list of releases here. We work with a lot of hard working Teams on various reviews and the amount of progress the NIX Team has made this year made this update a breeze.
The technology behind NIX has undergone some significant upgrades over the past 12 months. Previously utilizing the Zerocoin Protocol to facilitate private transactions, their recent “Sigma” update vastly improved how transactions are masked and now facilitates complete sender/receiver privacy through the use of “Commitment Key Packs”. It’s now entirely possible to transact peer-to-peer without the sender nor receiver being aware of the other parties address. Last year we compared NIX to Wanchain to varying degrees when it came to the technology behind the two projects, but with over 12 months progress and several technological innovations since, they’re not very comparable anymore. NIX has really matured and the Developers working on Dapps now have more opportunity than ever to develop and deploy privacy-focused solutions. We highly recommend checking out the full list of features and functions of the Ghost Protocol in detail here. You can also learn all about the technology in general here.
Since our original review and with all the new technology behind the project opening up the network in a big way, the NIX Team has also undergone some growth too. The Team have enlisted Dr. Sriram Vishwanath and the one and only Charlie Shrem as Advisors for the project which will not only help them on an R&D front but also expand their network to appeal to prospective partners and bigger customers looking to utilize the technology. The rest of the Team is obviously full of computer and software engineers as well as blockchain experts/veterans. As with every good privacy focused project, a portion of the Team is unsurprisingly anonymous or developing under an alias. The brand power behind NIX has always been a strong point for the project and you better believe their Community is vocal. It’s hard to ignore the project when its investors always have news to share, developments to look forward to, etc. We’ve been in touch with the NIX Team even before our original NIX review and they’re super passionate about their work. Check out the full Team here.
Overall, NIX continues to lead the privacy sector in our opinion. Luckily for keen Investors, the price of the NIX token is more or less the same as it was when we originally review the project in August of 2018. Given the fact that the fundamentals behind the project have improved drastically, it’s just another reason for Investors to take an interest and current holders of NIX to scoop up some more tokens. Privacy focused projects aren’t going away anytime soon but they are indeed entering a period where the less useful ones will be phased out and only the ones with real world use-cases outside of just shifting money around will prosper. We’re expecting NIX to grow even larger over the next 12 months as Developers continue to develop for the network and Dapps continue to provide solutions to those with a necessity for privacy. We’ll be back in another 12 months to tell you all about it.
Note: This is the 1st update to our NIX Review. Updated September 2019.

Concerns

There seems to be some contention over Privacy Coins or projects that are heavily focused towards privacy and anonymity. No, we’re not saying that anonymity and privacy are bad; we’re all for it. Over the past 12 months at PickACrypto we’ve noticed a shift away from privacy coins as more Exchanges are forced to comply with regulations, more Investors are looking for projects working with mainstream companies and as our privacy is chiseled away by big data whether we like it our not, some people are simply accepting it. From what we’ve seen, we’d say that we’re more or less bearish on projects where shifting money is the ONLY aim… but, that’s where NIX is very different. Although privacy coins from 2016 and 2017 are becoming less desirable as time goes on, newer projects like NIX are expanding the scope of privacy by creating a sort of “private Ethereum”, where developers can create Decentralized Applications that inherit the privacy NIX provides. This is a bit of a backhanded compliment where yes, we’re bearish on privacy “currencies”, but bullish on projects focusing on tackling private transactions, smart contracts and decentralized applications on a wider scope. NIX is one of those “bullish” projects.
NIX is up against a few competitors, most noteworthy; Wanchain. NIX has a pretty impressive Team but Wanchain appears to be slightly more B2B with an aim to provide services on an enterprise level. This isn’t to say that NIX is fundamentally weak compared to Wanchain, we’re saying that NIX has some tough competition and there’ll no doubt be more competitors in the near future. Both projects have their own functions and target audience, both are different enough to co-exist. Not a huge deal.
No major concerns. Fundamentally everything looks great. Our only other concern is with the plans for adoption and this swings around back to our first concern regarding the privacy sector of cryptocurrencies as a whole. Not only does NIX have some great competitors which is usually healthy for a sector of a growing industry but these projects are going to need to really prove themselves in terms of offering solutions where privacy is of the utmost importance. Solutions where users simply cannot transact on a more public blockchain. NIX has shown an incredibly impressive development schedule over the past year since we reviewed the project originally and we’re sure they’ve got a plan to tackle this. Not a direct concern.
Note: This is the 1st update to our original NIX Review. Updated September 2019.