NIX - The First DEX Manager

Wanchain Competitor at Roughly 90–94% Below WAN Price

< “NIX is targeting the creation of the first privatized decentralized exchange initially through the usage of the Blocknet protocol. This system will be designed to solve privacy layers among DEX trading, creating a layer of privacy for any protocol and tradeable asset through a multi-tiered trading structure.” ¹

What is a DEX Manager?

Think of a DEX Manager as an umbrella covering every DEX and CEX. Using the NIX DEX Manager users can anonymously buy an asset listed on exchange A and sell it on exchange B, or atomic swap token A for token B across exchanges. NIX is the first DEX Manager to enter the crypto market.

When fully implemented, the user can trade assets across any exchanges, anonymously, using the NIX wallet.

Ghost Protocol: Foundation of NIX DEX Manager Privacy

The NIX platform is a novel DEX with a strong emphasis on private, secure transactions. Numerous techniques are used to achieve this including atomic swaps, TOR networking, bulletproofs, zerocoin protocol, and stealth addresses. Combined all of these methods form the NIX Ghost Protocol. The ghost protocol is an optional privacy layer clients can use to anonymize their transactions.

Source: NIX Whitepaper — Illustrated example, BTC → LTC

Terminology+Jargon: Defined

Atomic Swaps → exchange of one cryptocurrency for another without the need for a trusted third party.
TOR Networking → Tor conceals the users location and usage from outside monitoring entities. When using Tor, a user’s networking is routed through thousands of different network relays to scramble initial internet traffic, resulting in a secure system for networking.
Bulletproofs → Conceal the quantities of coins in a transaction.
Stealth Addresses → Provide a way of concealing the destination address on chain by creating a hashing mechanism between the sender and receiver on the blockchain. Translation: Hashing is a cryptographic function that takes an input “candy” and returns a fixed-size alphanumeric string “agin23592Agniag235”. This covers the actual NIX address that will be receiving the data on the network and reflects a stealth output to the public chain.
Zerocoin Protocol → The Zerocoin Protocol is a strong encryption system in which large prime numbers are multiplied and the factorization of the resulting number makes it impossible to find out which numbers were used. ¹

NIX Consensus Masternodes

NIX Ghost Nodes (Masternodes, 40k NIX Tokens) used to secure the platform. Proof-of-Stake. Rewards: 0.25% fee rewarded to NIX Ghost Nodes through any Ghost Protocol transactions, partial block rewards of 28% per block.

“NIX is being built to establish an ecosystem of asset distribution with the added power of privacy centered metrics” ¹

Recent Developments

NIX Platform has been registered as a company in the United States, which means it will comply with U.S laws, policies, and regulations. The most critical piece of news is that NIX will not be labeled as a security. ³
NIX will be airdropped to ZOIN holders at a 1:2 ratio. 1 ZOIN → 2 NIX

How Does it Compare to Wanchain?

“Wanchain will create a new market of cryptocurrencies via cross-chain transfers on different blockchains. The developers aim to build a series of decentralized exchanges on the Wanchain network, connecting all ERC20 digital assets in one location. The project seeks to solve the problem of exchange-hopping in order to transfer and exchange from one cryptocurrency to another. Linking all currencies in one market is an ambitious goal, but that’s exactly what Wanchain sets out to do.” ⁴

Founded by Jack Lu, Co-Founder of Factom, Wanchain shares many similarities with NIX. However, NIX stands out, if not solely from an investment perspective.

NIX is a U.S registered company and is not labeled as a security. Cryptocurrency projects that work within regulations will outlast all that do not. Achieving this major milestone before launch is something that has never been done before.

NIX will also launch well below the marketcap of Wanchain. Assuming NIX launches between 40–70m marketcap (based on the airdrop) this puts it 94–90% below Wanchain.

References:

NIX - The First DEX Manager | Ecency