I recently had the opportunity to interview the @NIXplatform team on their approach to privacy technology, plans for continued innovation, and NIX’s place in the fight for privacy rights. Who is NIX and why should you care? Read on to find out!
“NIX Platform combines Atomic Swaps and privacy using our unique, innovative Ghost Protocol to provide the world with a truly anonymous and decentralized transfer of assets for the cross-chain era. NIX will bridge communication between external DEX’s to create privacy elements among all and any compatible ecosystems.”
Who is NIX Platform? What does NIX Platform do?
NIX Platform is “the one” in charge of providing what cryptocurrencies originally meant to offer, but have however failed to deliver: full privacy and decentralization.
NIX is basically a platform that connects other cryptocurrencies privately. So far what has been seen in the privacy area is several coins that offer partial anonymity in their own chains. It means that users who use their protocol have to swap their original coins to that specific privacy coin by using an exchange, in order to get partial privacy.
Now imagine a platform that offers not only privacy on its own protocol, but privacy to Bitcoin, altcoins and tokens in a decentralized manner, meaning that users do not have to use exchanges to convert their coins to NIX in order to make their coin anonymous. It will be as simple as sending Coin A in DEX 1 and receiving Coin B in DEX 2 privately. This is what NIX Platform does.
In order to achieve long term goals, NIX is delivering very strong privacy features that are a game changer in the anonymity field. The Ghost Vault, which was recently released, is a fully functional privacy feature based on the Ghost Protocol that makes user’s coins completely private from the blockchain. The soon to be released 2 Way Ghosting, which basically allows people to send and receive NIX with full privacy from vault to vault as well as the implementation of Ghost Vault staking, so users keeping their coins private in the vault do not miss rewards, are just a few of the many other technologies yet to come.
In summary, NIX is delivering a number of ‘world firsts’ in terms of privacy features to make it a leading privacy coin and platform in its own right:
- Cross-chain privacy.
- Privacy smart contracts that will allow private 2-way ‘ghosting’ (completely anonymous sending + receiving).
- Anonymous cold staking in the Ghost Vault.
- One-time zerocoin/stealth addresses.
- DEX Manager that will bridge DEXs to improve liquidity, but moreover provide the option of completely private, fungible trades for coins and tokens that do not natively provide this.
Although these are the main functions of NIX Platform, it is necessary to state that many more uses could be developed on top of NIX.
What industries do you expect NIX Platform to most disrupt? What are the use-cases?
An obvious example for the NIX Platform to expand into would be supply chain management and creating an environment for future privacy dApps, this can certainly impact in several industries. Linking multiple supply chain management, have them communicate with each other in a fully privatized manner. There are endless use cases to this technology, which can all run on their own sidechain.
The very first use case, however, is private cryptocurrency trading with the NIX DEX Manager. This will be a first-in-history technology that will bridge communication among DEX’s and permit trades on their exchange through NIX, creating (optional) completely privatized anonymous atomic swaps between coins available on each of these DEX’s. It will be possible to trade Bitcoin for Dash, Litecoin or another coin, without any trail, rendering other blockchains anonymous.
Being open source means that is not only up to us what to develop but instead anyone who wants to enhance NIX and the blockchain industry as a whole can develop applications and side-chains for NIX, which expands the range of possible use cases for NIX even more.
In the world of cryptocurrencies/ blockchain, who are NIX Platform’s primary competitors?
NIX’s primary competitor is definitely Wanchain. They have been in the market for long time, aiming to connect the world’s digital assets onto a single blockchain; this is not intended to position them in a bad spot, since they have awesome programmers and are trying to get the crypto realm decentralized, but they seem to be focusing on reinventing parts of the wheel, whilst NIX is combining and building upon readily available technology to create ‘best of breed’ solutions, which will also majorly shorten our time to market compared to them.
As per NIX allies, it is well known that NIX is becoming a platform that seeks to provide full privacy to Bitcoin, altcoins and tokens on the market whilst allowing as first use case inter-DEX private transactions. We originally partnered with Blocknet, because NIX team believes that Blocknet shares the vision of a truly decentralized environment to help empower people all around the globe. We strongly believe that what NIX Platform is bringing to the market is beneficial for everyone, not only in terms of decentralization and privacy, but in respect of independence in social, economic and financial global infrastructure. Considering this, we strongly trust that any individual, crypto-project, platform and DEX that shares our same passion for decentralization are our allies.
We are also talking to a lot of DEXs, but we first want to make sure we can create an environment to have the developers connect. For example, we have already tested an atomic swap in the Komodo network (barterdex). A successful swap was set up, so we are leading into other interesting developments.
What are some common misconceptions about NIX Platform that should be cleared up?
More than a misconception, we think many in the crypto community are not aware of the exciting, innovative technologies that NIX is delivering.
People might have not realized about the true privacy power that NIX is offering, features that could be used by anyone. We are sure that bitcoin will be the king of cryptocurrencies, but it lacks privacy, so rather than being just a privacy coin, we decided to be a long term privacy tool for Bitcoin, altcoins and tokens. An infrastructure composed of atomic swap technology and optional privacy Ghost Protocol to allow any coin to be traded privately through NIX Platform.
“NIX Platform is not a fork; it is a project that started from block zero. Moreover, it is not a clone of another project. We started from scratch.”
The team believes that due to the uniqueness of NIX’s aspiration, a new coin/chain had to be created and molded with brand-new specifications, rather than continuing to build on top of an existing coin.
How is NIX Platform positioning itself in the fight for privacy rights?
NIX faces a groundbreaking, yet totally accomplishable opportunity to help empower thousands of coins in the market, and to allow users of any supported coin to redeem their right of having total control over their privacy.
NIX focuses in two main subjects, privacy and decentralization. In the privacy field, NIX is positioning itself through the continuous development of its privacy-focused technology, aka the ‘Ghost Protocol’, which is an innovative and unique code that consists of several privacy elements to deliver best in class anonymity and totally private transactions. It involves the best technology on the market, including the Zerocoin protocol, Stealth Outputs, TOR/i2p network protection, moreover, the addition of Bulletproofs is being studied.
The Ghost Protocol is the foundation of our already functioning Ghost Vault, which is a private place to keep coins hidden from the chain. Since those vaults are completely private, NIX is working on the creation of a 2-Way Ghosting, meaning that coins can be sent from one vault to another, resulting in both: sender and receiver anonymity. A technology never implemented before.
When we talk about privacy, we mean it in every single aspect; and even though privacy is the cornerstone of NIX Platform and that we believe users should have the power of privacy, it is not a mandatory NIX feature, simply an optional one.
How will regulation impact privacy coins in general and NIX Platform specifically?
Cryptocurrencies have become a revolution that can hardly be stopped; although small countries might be able to shut down crypto in their boundaries, we believe that it would not happen in major countries. We do not see happening that government starts regulating crypto.
As a decentralised, open-source project that offers optional privacy to users, we do not think NIX has to worry about regulations – the only case in which we would be affected is in a scenario where governments decide to ban all cryptocurrencies, which again, we do not think will happen.
What does the privacy coin market look like in 5 years?
It is of public knowledge that more and more people are worrying about privacy, neither willing to have their personal financial data shared publicly nor held by centralised institutions. Bitcoin creation was meant to establish a form of payment that was private and decentralized; we believe that as more users are aware of the importance of this matter the privacy coin market will grow in fast-manner while adoption will increase.
Although there are several options regarding privacy coins and we still think there will be differentiation, we see no future in other privacy coins as long as they keep focusing on delivering intra-chain partial privacy. We have seen an explosion in coins and tokens in recent years, but this is not sustainable. In the future only a few coins will be fully adopted by the mass market, so we see no point on competing against other stores or methods of transferring value such as BTC. Instead we would rather focus on becoming a privacy tool that enhances – not competes with – every adopted coin/token on the market.
Do you consider NIX a privacy coin?
NIX offers intra-chain, cross-chain and inter-DEX private transactions, so yes, it also gets into the definition of privacy coin.
NIX is innovative in terms of the system it is using for delivering full privacy: The Ghost Protocol, the combination of technologies that make this protocol is first of its kind, zerocoin protocol, stealth outputs, Tor/i2p and the possible incorporation of Bulletproofs. This whole system offers not only coin privacy, but location privacy. Moreover, the creation of the Ghost Vault and the soon to be released 2-Way Ghosting represent ground breaking items as they are innovative concepts in the privacy field.
Zerocoin helps scramble user data by creating a system that makes it impossible to guess the correct original location of assets. The stealth outputs create a blockchain element that conceals the destination output resulting in a non-traceable address location. These two mechanisms provide receiver and sender privacy. Integrated with a layering of Tor networking, users will have both blockchain privacy as well as networking privacy.
How is NIX Platform improving and innovating blockchain technology?
What is being developed in NIX is basically using technologies that combined provide users with the best privacy solutions on the market:
Ghost Vault, for example, is a feature that gives sender privacy and receiver privacy in two transactions, the goal of this is to have coins hidden from the chain and untraceable. When coins are sent to the vault, the sending address is known to the public, but once they hit the vault they become private. This procedure is called ghosting. Then when people unghost their coins, the receiving address is public, and sending address private and untraceable (since they were placed, and therefore hidden off-chain, in the Ghost Vault).
However, NIX is now creating the first in history privacy-in-one-transaction development: 2-Way Ghosting, this feature allows users to unghost their coins from one vault while simultaneously they are ghosted into another vault. It is an environment for full 2-way privacy that has never been done before. Meaning that coins come from a place that cannot be traced and go to a place that cannot be traced.
Smart contracts that allow the network to accept this type of payment are needed for this implementation. In the future users will never have to pull their coins into actual addresses, allowing to continuously make private trades between each other. Essentially users can have their NIX balance into the ghost vault as long as the people they are sending it to accept it that way.
What’s the differentiator that makes NIX Platform a leader long-term?
NIX’s differentiator is definitely based on our core values: complete privacy and decentralization. The uniqueness of this project relies on the fact of becoming a completely decentralized project that offers privacy to all, not only a few, but all cryptocurrencies.
“NIX Platform is the future of Privacy.”
The reason is not only due to the level of privacy that NIX is reaching, but the easiness with which we want to deliver; we are aware of how important convenience and easiness are for adoption, so we are going to make privacy user friendly whilst establishing a basis so that developers can build their own dApps on top of NIX privacy protocol for achieving countless use cases.
Our goal in the long term is to become a completely decentralized project, with several teams that work on different branches and update the core code. At that point NIX will not need development funding. NIX believe firmly in the crypto philosophy of true decentralization and the vision of an independent, open-source platform is the team’s ultimate goal.
What is NIX Platform’s plan for adoption?
The success of any crypto project comes mainly from delivering genuine value and adoption, deriving from the way communities start using delivered technology. A lot of crypto projects are often simple ‘me too’ forks, plain old money grabs or their ambitions fails to add any genuine value or innovation to the industry. However, with our vision, foundations and the progress we have already made in such a short time, this is where NIX is different.
We are slowly growing a strong community, users who are here because they believe in this project, and working with advisors and influencers to raise awareness.
People tend to look for convenience, instead of security. This is the way society works, but moving forward will increasingly become an issue not just in the blockchain space but in the world as a whole, where large centralised organisations hold a monopoly on the information they hold about individuals. Ultimately there will be a backlash against this, and you are seeing this start already. NIX’s plan for adoption is aiming to combine both: convenience and privacy, in a way in which the mass market can have user friendly privacy, in a manner that is easy to understand and adopt by the layman. As an example, our team is working very hard on delivering a user-centered UI wallet, that strips away a lot of the technical knowledge required in many other cryptocurrency experiences.
When it comes to demographics and target audience, we want to reassure that although NIX’s vision is to overcome privacy issues in all aspects, our main target is the cryptocurrency environment, as that is the proven market so far.
We have not yet started serious marketing related activities, preferring instead to focus first on the bedrock of our technical capability so that as we start to raise awareness it will be based on tangible features and functionality, not hype. In expectation of this though, we have been talking to specialist blockchain crypto marketing firms, which we will trigger when we find the best option and the time is right.
What’s NIX Platform doing to protect its investors?
To start with, we want to make very clear that we are not an ICO, we are not reproving ICO’s here, but it is well known by crypto communities that some of them are prone to fraud and manipulation. In cryptocurrency there is no such a way of truly protecting investors capital, it is the market that “controls” the price of projects. Any investment can grow by a huge factor, or can become worth nothing.
What we are doing instead, is working and delivering functional technologies that give the project legitimacy, this while we stick to the roadmap and evaluate the addition of important aspects to the project.
We also offer a longevity plan and rest assure that we are not a simply feature-project, instead we are a platform-project, one in which people will build applications and smart-contacts on top of, representing no risk of another cryptocurrency like Bitcoin overcoming our vision. Instead of offering just a privacy coin, we encompass a privacy platform that is becoming a privacy tool which use can be adapted to all existent coins, and not just that, we think the possibilities are endless, from plug-in applications to social network privacy.
How is NIX Platform taking advantage of current market conditions?
Market conditions should not represent an issue when it comes to development. NIX Platform keeps working towards the goal of delivering items on the roadmap; in fact, our UI wallet is being delivered pretty soon and we keep working on privacy matters, as the so mentioned 2-Way Ghosting feature. There are certainly projects that struggle under bear market conditions, but we think that as long as the project is legit, the team is committed to delivering and provide the community with support, no market condition should heavily affect the project performance.
Is NIX Platform’s dev team growing?
The NIX Platform’s development team keeps growing. We started with 3 developers, we are now 4 team members and 2 contributors in the development area. Not only that, but the NIX Platform is the only project our developers are working on. We also actively recruit advisors and contributors with market-leading skills to further advance the progress and adoption of the project, such as best-in-class user experience and marketing.
“We plan to make a genuine and far-reaching impact on the industry – anything less, would be a failure in the team’s eyes.”
How is NIX Platform focused on fair distribution, decentralized coin supply and good governance?
As with most coins out there, the NIX coin supply is accessible by all, not being restricted to anyone. Which in turn gives the community no reason to fear heavy-centralization with a handful of entities or market manipulation. It was one of the main reasons for NIX to switch from Proof of Work (POW) to the Proof of Stake (POS) consensus, avoiding mining monopolies that could control the market, both now and in the future. It is well known that the PoW ability to secure a decentralized network is under scrutiny.
Regarding NIX governance, it is of great importance to say that development and most decisions are made strictly by the team, since we have no kind of venture capital investors to depend on. Instead, decisions are made based on what is the best for NIX’s long-term future and what works better for our passionate community of supporters.
Why invest in NIX Platform?
NIX is not only the future of privacy with dApps such as the DEX Manager – but the present as well, positioning itself right now as a top privacy coin based on its unique technological advancements such as the instant delivery of anonymous features like the Ghost Vault, and the imminent implementation of 2-Way Ghosting technology, which provides full privacy in a single transaction. Add to this other new features like cold staking and Ghost Vault Staking, which will allow users to earn block rewards from staking their coins privately.
As it has been explained in this document, NIX is building an environment so that any coin can be traded privately by means of the Ghost Protocol: an infrastructure that allows for intra-chain, cross-chain and inter-DEX private transactions.
The availability of NIX masternodes (Ghost Nodes) and in-wallet staking (POS) also mean that people holding NIX – no matter how much or how little, can still earn a return on their investment.
A high-performing team, strongly committed to the task of making the mass-adoption of privacy easy and with a track record of delivering on time. Based on its technology feature set, NIX is already a leading privacy coin in its own right, despite only having launched earlier this year. We invite communities to check the work that has been done to realize about the endless possibilities that this project brings to the market.
“The open-source, decentralised nature of the NIX means that in future anyone will be able to build their own privacy and anonymity focused dApps on the platform, to address more use cases and bring further value to the blockchain community as a whole.”
Thanks for reading!
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