Nimiq in a Nutshell

A simple, secure and censorship-resistant cryptocurrency, native to the web.

The Pitch

Nimiq is blockchain technology inspired by Bitcoin but designed for the browser.

Implemented in Rust and JavaScript, Nimiq empowers web developers to easily access and build on it. Only three lines of code connect any web application directly to the blockchain, making it easily accessible to web-based businesses and projects, too.

Unlike cryptocurrencies such as Bitcoin and Ethereum, Nimiq does not require a third-party node to send transactions directly from the browser. This advantage allows for a new level of accessibility and user experience without the need to compromise on decentralization or censorship-resistance. Empowered by these features, Nimiq provides a frictionless transfer and store of value directly applicable to the real world: The NIM cryptocurrency.

NIM is the heart of an ecosystem of applications built by the community and the team alike. The free-to-use browser wallet by Team Nimiq is an example of the simplicity made possible by the browser-first blockchain. Creating a Nimiq account on the website requires no download, no personal data and takes less than 2 minutes. Keys are stored in the user's browser and are never sent to a server. A redesign (ETA April ’19) will improve account creation, making it faster to create a Nimiq account than a Google or Facebook account. The project donates some NIM to new users. Try it here.

The same level of easy accessibility is projected for buying and selling NIM as well. Nimiq has started working with a non-custodial exchange and a financial institution to facilitate trustless conversions of NIM to other cryptos, as well as NIM ⇆ Euro.

Nimiq’s protocol and application code is open source. It is a community-driven nonprofit project developed by a multinational and tech-focused team.

For Team Nimiq, impact is more than business. Two percent of the total NIM supply has been irrevocably assigned to Nimiq’s charitable foundation, vesting over 10 years. As the value of NIM grows, this foundation will be enabled to support good cause initiatives with high social or ecological impact.

The Tech

Accounts and balances are stored in a Merkle-based accumulator. Non-Interactive Proofs of Proof-of-Work allow for super lightweight nodes. Consensus can be established in seconds, including on mobile devices. Argon2d is Nimiq’s latency-bound PoW algorithm; Ed25519 Schnorr signatures secure transactions. Currently, there are two implementations of the protocol: JavaScript and Rust. Cryptographic primitives are optimized through WebAssembly in the browser.

A whitepaper for Nimiq 2.0 – the evolution of the current protocol – will soon be published. Nimiq 2.0’s novel consensus algorithm will achieve a performance close to the theoretical maximum of a single-chain protocol.

The Vision

Barrier-free value exchange for everyone.

The Mission

Enable the most accessible,
censorship-resistant payment solutions.

General Bitcoin Ethereum Nimiq Nimiq 2.0
Primary use-case Store of value, censorship-resistant payments Distributed computing platform, smart contracts Accessible and censorship-resistant payments
User interaction App or website relying on a third-party service/gateway or installing your own node Installation free web-app that runs your own light node inside your browser
JavaScript bindings Yes, but require third-party gateway Yes, natively Yes, natively
Onboarding time
(non-custodial wallet)
Several minutes Several minutes Less than 2 minutes Less than 20 seconds
Tech. Specs Bitcoin Ethereum Nimiq Nimiq 2.0
Maximum supply 21 million BTC infinite 21 billion NIM
On-chain transactions per second 7-15 up to 25 up to 12 1000+
Average block time 10 minutes 15 seconds 1 minute seconds
Current average TX fee 0.10 to 0.20 USD 0.14 - 0.28 USD 0 USD for up to 10 TX per block and sender N/A
Light node sync download size tens of megabytes hundreds of megabytes ~1MB TBA
Consensus algorithm PoW based on SHA256 PoW, planned to be switched to PoS PoW based on Argon2d TBA
Mining CPU, GPU and ASICs CPU, GPU and ASICs CPU and GPU TBA
Smart contracts Scripts, not Turing-complete Programmable, Turing-complete HTLC + Vesting HTLC + TBA
None of the statements must be viewed as an endorsement or recommendation for Nimiq, any cryptocurrency, or financial product. Neither the information, nor any opinion contained herein constitutes a solicitation or offer by the creators or participants to buy or sell any securities or other financial instruments or provide any financial advice or service.