NIX combines cross-chain compatibility with an advanced privacy protocol in order to eliminate the need to trust centralized exchanges, providing a DEX Manager infrastructure that allows for the use of anonymous atomic swaps.
Protocol Layer
NIX utilizes the friendly to the environment Proof of Stake algorithm, which perfectly fit the platform’s requirements of high security, energy efficiency and low risk of centralization. The NIX Ghost protocol is based on several privacy components.
It makes use of the Zerocoin and Tor protocols in order to scramble user data and make it impossible for one to guess the original location of a certain asset. Zero-Knowledge proofs are used in order to provide full transaction privacy.
Utility Layer
Ghostnodes are another part of the Protocol Layer. NIX Ghostnodes utilize the Ghost Protocol in order to help secure the NIX Network, receiving rewards for processing private transactions.
NIX’s infrastructure also allows for smart-contract lease of coins via the Lease Proof of Stake, or LPoS.
The final part of the Protocol layer is Ghost Vault Staking, which is a system used to incentivize users to stake their NIX coins rather than keep them in wallets.
The most important part of this Layer is the Ghost Vault, which is integrated in the NIX wallet and provides optional privacy to either the sender or the receiver. The Ghost Vault also allows for two-way ghosting, which enables full privacy of the transaction, with NIX claiming there’s no possibility for it to be compromised.
Communication Layer
The Communication layer is consisted of side chains, with the primary function to allow developers, users and businesses to integrate their work to the NIX network.
dApp Layer
The DEX Manager is the only dApp based on the NIX platform so far. Its sole function is to act as a bridge between decentralized exchanges, allowing advanced privacy and liquidity.
NIX faces some stiff competition from similar projects like Wanchain, which is much more ahead in terms of development and already has established partnerships with some of the biggest tech giants in Asia. NIX has good fundamentals and technology but needs to somehow gain competitive edge in the sector in either having a clear technical advantage or through rigid marketing.
All in all, NIX is a project with a great team and the technology to back it. It’s pretty under the radar as of now, but the network has the capability and the potential to go very big in the future.
