Phoenix, Arizona, December 13, 7:00 pm – Colin Cantrell, the designing architect and engineer for the cryptocurrency Nexus (NXS), will be making a presentation to the Phoenix Blockchain Meetup on the deficiencies and limitations of Bitcoin and how his visionary next generation cryptocurrency Nexus, will carry cryptocurrency into the future. Bitcoin’s greatest limitation is in the fact that it is designed to be a trustless system, yet requires trust to use. This trust requirement is in the centralized mining pools, the politics, security of exchanges and online wallets, and the way the protocol operates with honest and dishonest nodes.
Bitcoin also suffers from centralized mining using ASIC computers from giant mining operations. This puts the control of Bitcoin in the hands of only a select few operators. Nexus was designed to be highly resistant to centralized control. Nexus uses a combination of Nexus Proof of Stake (nPOS) and 2 forms of proof of work algorithm: CPU mining by looking for dense prime clusters of numbers that are 308 digits long, and GPU mining calculating a hash using Skein and Keccak of 1024 bits making Nexus ultra resistant in cryptographic strength and long term use as quantum computers to continue to reach more people.
Nexus seeks to mitigate these issues with new architecture, new developmental technologies, and new physical infrastructure in order to take blockchains and crypto currencies into the future. Some other notable security features of Nexus is private keys that are 571 bit that can be 2.5 times the length of bitcoins but in retrospect multitudes stronger than what bitcoin uses which is 256 bit. Skein and Keccak hashing are also acting together to secure each other in the respect that if one of them becomes more insecure from partial or full collisions being found like SHA1 and some of the SHA2 hashing that is currently in use, it provides a fallback for the security of the second algorithm helps to secure the primary.
Bitcoin started off as an experiment sent out on a mailing list, where many thought that it never could work due to many failures in the Digital Currency front. Blockchain technology is now an integral part of the future; moving humanity away from the obsolete systems of centralized control. Bitcoin can be compared to the vacuum tube which were used for the earliest giant sized computers and radio amplifiers, Nexus is the transistor that makes it possible to have a super computer in our pockets.
Colin is an entrepreneur and innovator who used his years of experience in the aerospace industry and 13+ years of Software Engineering to develop the necessary solutions for the growth of the technological base of Crypto Currencies. Since 2014 he has been developing Nexus, after becoming involved in Bitcoin in early 2013. He also is researching and developing new energy systems that will contribute to more sustainability in the future including hydrogen, electromagnetics, provides humanity with the technology that lowers our cost of life while increases the quality of life.
Nexus is currently one of the top 100 Cryptocurrencies and is positioned itself as the next generation of cryptocurrency designed to dramatically improve the blockchain model by being able to handle more transactions, faster confirmations, 3-way decentralized block production, as well as significantly stronger encryption than Bitcoin.
Very exciting. Looking forward to seeing Colin's talk at the meetup :)
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