Page
A Safe, Scalable, and Upgradeable Web3 Infrastructure featuring EVM compatibility, and 100% decentralization.
Last updated
A Safe, Scalable, and Upgradeable Web3 Infrastructure featuring EVM compatibility, and 100% decentralization.
Last updated
Prior to the full implementation of the Nexis Network, the Nexis Networks core team may publish updates to this white paper, even substantial updates. It is therefore subject to correction, completion and amendment without notice. Please visit for the most up-to-date documentation of the Nexis Network.
In the evolving tapestry of the digital transformation era, blockchain technology emerges as a pivotal anchor of decentralized systems, offering promise in its transparent, immutable, and democratic infrastructure. However, as industries and individuals alike have begun their migration to blockchain solutions, certain inherent challenges—scalability, cost, and adaptability—have often hindered its mass adoption. The Nexis Network, conceived and crafted at the confluence of advanced cryptographic techniques and visionary Web3 principles, aspires to metamorphose these challenges into milestones. Designed not merely as another layer, but as a robust foundation, it strives to revolutionize how businesses and individuals transact, store, and interface with digital data. This whitepaper delves deep, elucidating our pioneering approach, which blends optimal scalability, cost-efficiency, versatility, and user-friendliness. We explore Nexis's unique architecture, its holistic ecosystem designed for developers, and its pragmatic application in reshaping industries like finance and healthcare. As we venture forward, the Nexis Network doesn't just seek to be a part of the Web3 landscape; it aims to redefine it.
The past few years have witnessed a paradigm shift in the way we live and interact with each other. The COVID-19 pandemic has greatly accelerated this transformation by forcing people to turn to digital solutions for work, commerce, and communication. Trends like remote work, e-commerce, and online meetings have driven an increased demand for innovative digital technologies.
However, with this digital transformation comes the challenge of data privacy and control. As a result of the rapid growth of digital monopolies, our confidential information is no longer solely under our control. Large corporations manage our personal data for their own purposes, often at the expense of our privacy. This is the dark legacy of Web 2.0, a reality that has left many individuals feeling frustrated and powerless.
The solution to these challenges lies in the emergence of Web 3.0, a decentralized vision of the internet that empowers individuals with the ability to control their data and regain privacy. With the advancements in blockchain technology, Web 3.0 offers a path towards a more authentic and open digital space, where decentralized applications are distributed across domain-specific clusters, erasing the boundaries between online and offline.
The decentralized nature of Web 3.0 promises to give individuals the power to take control of their data and move away from the centralization, censorship, and control that are prevalent in Web 2.0. The collective efforts of billions of people will drive the creation of a new digital world, one that values privacy, security, and individual freedom above all else. It's an exciting time for digital innovation and a chance for us to shape the future of the internet in a way that benefits us all.
The emergence of Web 3.0 is driven by a growing demand for online privacy, security, and control of personal data. With the advent of blockchain technology, the decentralization of the internet has become a reality, transforming industries and shaping the future of the digital landscape.
Web 3.0 represents a new era of the internet, where online and offline merge into a seamless and authentic experience, fueled by decentralized applications across domain-specific clusters. The collective actions of billions of individuals, companies, and technologies come together to create a harmonious, yet complex ecosystem, leading to improved outcomes for all.
This new paradigm shift promises to bring increased transparency, security, and privacy to the internet, enabling people to regain control over their data and participate in a more equitable and democratic digital world. The Nexis Network, with its focus on scalability, security, and decentralization, is at the forefront of this revolutionary transformation.
The adoption of blockchain technology has increased rapidly since 2015, and this trend is expected to continue in the coming years. However, it is challenging to predict the exact adoption rate of blockchain technology with certainty as it is a rapidly evolving field and several factors such as government regulations, technological advancements, and market forces can influence its adoption.
From 2015 to 2020, blockchain technology saw significant growth in the financial services industry with several banks and financial institutions exploring its use for payments, remittances, and digital asset management. The growing popularity of cryptocurrencies like Bitcoin, Ethereum, and others also helped raise awareness and drive adoption of blockchain technology.
In recent years, the use of blockchain has expanded beyond the financial services industry, and several other industries have started exploring its use. For example, in supply chain management, blockchain technology is being used to increase transparency, reduce fraud, and improve the tracking of goods. In the healthcare industry, blockchain is being used to secure patient data and streamline clinical trials.
Looking ahead, it is expected that the adoption of blockchain technology will continue to grow, and by 2030, it could become a mainstream technology. However, the pace of adoption will depend on several factors such as the development of more user-friendly and scalable blockchain platforms, the clarification of regulatory frameworks, and the willingness of businesses and consumers to adopt this new technology.
Blockchain technology has the potential to revolutionize various aspects of our lives, both economically and socially, and can pave the way for a digital society that is secure, transparent, and efficient. As a decentralized ledger technology, it operates on the principle of immutability and traceability, making it a safe and reliable means of storing data and transmitting value.
Blockchain technology is a trusted platform for safeguarding sensitive personal data and can provide a secure mode of access for authorized parties. This is critical in an era where the growth in AI and IoT has resulted in an exponential increase in the use of customer data. The maturity of blockchain technology, combined with its potential to provide increased security, transparency, and efficiency, makes it an attractive solution for customers who are looking to protect their sensitive data.
The blockchain is designed to operate as a decentralized database, which eliminates the need for centralized management and ensures that data is secure and tamper-proof. Furthermore, it allows organizations to share a common database, which can be verified and updated by multiple parties in a secure and efficient manner.
While the blockchain has reached a certain level of maturity, the technologies that support its user experience (UX) and user interface (UI) are still in their infancy. Soon, they will face similar conflicts that led to the development of today's internet standards. As per the predictions of Gartner, by 2024, 30% of sensitive personal data of customers will be protected through blockchain-based licenses, demonstrating the rapid growth and potential of this technology.
Blockchain technology has the potential to transform the way we interact, store, and transmit data in the digital world. As the technology continues to evolve and mature, it will play a significant role in shaping the future of digital society, enabling us to create a more secure, transparent, and efficient world.
The Nexis Network is a visionary project that aims to shape the future of the digital world by combining the power of blockchain technology and innovative solutions. Our mission is to create a decentralized ecosystem of products and services that prioritize transparency, community involvement, and privacy.
We understand the changing needs of society and are dedicated to providing secure and efficient platforms for businesses and individuals alike. Our primary focus areas are data privacy, logistics, and Decentralized Finance (DeFi).
We believe that the internet should be free and self-governed, driven by the collective intelligence of the community. That is why we have placed significant emphasis on privacy, especially for medical and genomic data, and on building secure and transparent ecosystems for Web 3.0.
The Nexis Network is designed to be one of the fastest and most secure blockchain platforms in the industry, making it easier for enterprises to build upon it. We are constantly exploring state-of-the-art cryptography and consensus protocols to create scalable, secure, and decentralized solutions.
Our goal is to create user-centered services that offer the best of both centralized and decentralized worlds. We are developing intuitive user interfaces and making it accessible for developers, enterprises, and individuals globally to join our community-governed ecosystems.
Nexis Network Blockchain’s performance is unparalleled, outpacing most of the existing blockchain platforms. We are confident that the focus on scalability, security, and decentralization will help it tackle the blockchain trilemma and bring the next generation of decentralized solutions to the world.
Transaction Throughput
75K+ TPS
~15 TPS
Up to 7000 TPS
Up to 470 TPS
Transaction Fee
~ $0.000006
~$5
~ $0.001
~ $0.2
Transaction Finality
~400ms-1.2s
~ 7 mins (32 blocks)
30 mins to 1.5+ hours
~ 45 sec
Consensus mechanism
DPoS
PoS
PoS
PoS
EVM compatible
Yes
Yes
Yes
Yes
Rust compatible
Yes
No
No
No
Nexis Network has taken a bold approach to resolving scalability issues by deploying a state-of-the-art solution, synergizing the power of Solana with our own unique and innovative capabilities. The networks commitment to decentralization is reflected in our community-driven ethos, where members hold a decisive voice in shaping the roadmap and outcome of the Nexis Network through voting mechanisms.
This democratic approach, combined with the open accessibility of the Nexis Network as a developer, validator or delegator, solidifies the networks standing as a completely decentralized blockchain that has no single owner or centralized authority and is owned by the people.
The initial developers of Nexis Network embarked on a comprehensive research effort, examining a variety of technologies, to create a project that would revolutionize the blockchain landscape. With a deep understanding of the limitations of existing blockchain technology, we aimed to address both user needs and the fundamental challenges of the blockchain ecosystem.
Our solution is built upon a foundation of Solana, which we have augmented with cutting-edge advancements to deliver a secure and user-friendly platform. The Nexis Network Blockchain represents a convergence of technologies, seamlessly integrated to maximize performance while preserving security and decentralization.
Nexis Network was built on a holistic approach to solving complex challenges. That is why we have meticulously crafted a platform that brings together a diverse set of technologies to create a truly innovative blockchain. The result is a blockchain platform that is not only scalable, secure, and decentralized, but also user-friendly, making it one of the most sought-after solutions in the market.
Furthermore, we would like to describe the set of technologies that unite together to make Nexis Network Blockchain one of the most scalable, secure, decentralized, and user-friendly blockchain platforms on the market.
Ethereum Virtual Machine (EVM)
Solana Virtual Machine (SVM)
The advent of Ethereum marked a major milestone in the evolution of blockchain technology, introducing the concept of developer-friendly smart contracts that enabled the creation of a wide range of decentralized applications. These applications, some of which formed widely used ERC standards, leveraged the power of Ethereum's decentralized network to bring new levels of security and innovation to various industries.
However, despite Ethereum's success, developers faced the challenge of high transaction costs and limited performance, leading to the development of Ethereum 2.0 with improved efficiency. Despite this progress, the Nexis Network team recognized the opportunity to take a different approach to solving these challenges.
The Nexis Network leverages the most advanced blockchain technology to provide a platform for writing Ethereum smart contracts, allowing developers to take advantage of the Ethereum Virtual Machine (EVM) within the Nexis Network ecosystem. This opens up new possibilities for the DeFi market and decentralized Ethereum applications, providing faster transaction speeds, lower fees, and expanded capabilities.
By bridging the gap between the Ethereum network and the Nexis Network blockchain, developers will be able to reap the benefits of both platforms, leveraging the established DeFi market and the advanced capabilities of the Nexis Network ecosystem. This innovative approach sets the Nexis Network apart as a leading player in the decentralized finance space and a valuable resource for developers looking to bring their applications to the next level.
Reaching consensus in a blockchain network is a complex process that involves synchronizing nodes to ensure the accuracy of transactions. The challenge lies in the fact that nodes are distributed globally and have varying data processing capacities. As a result, synchronization time and network bandwidth directly impact the number of transactions that can be processed per second (TPS). While decentralized networks like Bitcoin have a TPS capacity of 7, and EOS can handle around 4000 TPS, centralized payment systems like Visa provider a significantly lower TPS capability of 1700.
However, it is important to note that the trade-off between TPS capacity and decentralization is a crucial consideration in the development of blockchain technology.
The Nexis Network represents a new standard in the world of blockchain and e-payments, leveraging the impressive capabilities of the Solana blockchain to offer a solution that outperforms its competition.
While Solana is known for its high TPS capabilities and market-leading performance, the Nexis Network takes it a step further. The Nexis Network has taken Solana's innovative technologies, including GPU utilization, parallel transaction processing, Proof-of-History (PoH), and Golfstream, and added an unrelenting focus on delivering the best user experience possible through the integration of the Ethereum Virtual Machine (EVM) to enable a stronger developer presence for the ecosystem.
During our testing of Solana for a full network load, bandwidth reached ~60,000 TPS, and this is not the limit - in theory, it can reach 710,000 TPS on the standard gigabyte network. Though a gigabyte network is not typically present.
By utilizing Solana's strengths and augmenting them with our commitment to delivering the ultimate user experience, the Nexis Network is able to offer fast and efficient transaction confirmations with low transaction fees and fast block times of 400ms. Additionally, the Nexis Network is constantly evolving, incorporating new and innovative technologies through the communities commitment to mainstream adoption.
By building your project on the Nexis Network, users can enjoy the benefits of a blockchain-based solution without even realizing it. This is because all transactions are executed in the background, providing a seamless user experience. Additionally, by leveraging the Nexis Network's infrastructure, you can avoid the need for users to pay transaction fees for read and write operations, making the experience even more user-friendly.
However, as the creator of your project, you retain the option to monetize your platform through fees, if desired. The Nexis Network enables you to automatically and effortlessly charge fees in your project's token, without interrupting the user's experience. This gives you the flexibility to monetize your project in a way that aligns with your business model, without sacrificing the user's experience.
Plus so much more!
A Secure & Private Web3 Wallet for your Crypto, NFT's, and DeFi Adventures!
Discover the Future, Transact with Ease! Unlock boundless possibilities with Nexis Wallet, your gateway to the pulsating world of decentralized finance (DeFi) and non-fungible tokens (NFTs).
Seamlessly designed to enhance your digital asset interaction, this Chrome extension is your secure conduit into crypto, Ethereum, Base, Binance Smart Chain, Arbitrum, and other prominent blockchain networks. Unleash Potent Multi-Chain Interactions!
Nexis Wallet champions a unique, user-friendly multi-chain experience, connecting you instantly to all EVM based chains, ensuring your digital assets and NFTs are always within secure and easy reach. Move fluidly between various chains, enjoying swift, secure transactions and explorations in the expansive Web3 domain. DeFi: Decentralized, Daring, Dynamic!
Navigate through the DeFi cosmos with ease and confidence! Nexis Wallet empowers you with a toolbox to explore, interact with, and innovate within dApp ecosystems, ensuring your journeys in decentralized finance are not just secure, but also effervescently dynamic. NFTs: Your Gateway to Digital Uniqueness! Step into the metaverse, where your ownership is distinct, secure, and interminable! Manage, showcase, and trade your NFT collections (ERC-721 & ERC-1155 tokens) with an interface that prioritizes clarity, ensuring that every pixel of your digital art, utility, or memorabilia is appreciated and safeguarded.
Crypto: Relish the Rainbow of Digital Assets! Whether you're a seasoned crypto connoisseur or a beginner, Nexis Wallet unfolds a splendid palette of cryptocurrencies, including stalwarts and trending memecoins. Engage in smooth transactions, manage diverse portfolios, and securely store a multitude of digital assets.
A Symphony of Seamless Integration! Engage with dApps like never before! Your Nexis Wallet elegantly integrates with a myriad of decentralized applications, enabling you to immerse and interact with smart contracts, decentralized exchanges, and other Web3 offerings with unprecedented ease.
Safety First: Securely Yours! Crafted with robust security architecture, Nexis Wallet ensures that your digital assets and data are shielded from unauthorized access. Enjoy peace of mind knowing that your crypto and NFT collections are safeguarded by cutting-edge technology, granting you a secure, seamless passage through the Web3 ecosystem.
Nexis Wallet is not just a tool; it's an enabler, a catalyst, propelling you into the futuristic realms of Web3, DeFi, and NFT spaces with unparalleled ease and assurance. Immerse yourself in the digital future, exploring, interacting, and innovating with every click.
Embark on your decentralized journey today with Nexis Wallet, your passport to everything blockchain! Core Features:
- Live price charts
- Easily bridge tokens across EVM blockchains - Swap ERC-20 tokens getting the best fee rates
- Discover the latest airdrops - View top gainers and losers in the crypto market
- View information about your NFT's
- Earn rewards from fee's by holding Nexis (NZT)
- Discover dApps with our built in browser
User friendly
✔
X
X
Enables payments
✔
✔
X
Easy to use
✔
X
✔
Flexible permissions settings
✔
X
X
Detailed history of transactions and sessions
✔
X
X
Decentralized
✔
✔
X
Respects privacy
✔
✔
X
No app or extension needed
✔
X
✔
The Nexis Network core contributors undertook a thorough evaluation to find the optimal solution for a decentralized network capable of securely managing billions of units. After reviewing 48 different consensus mechanisms, including 34 proof-based protocols, 7 vote-based systems, and 8 alternative (DAG) solutions, it became apparent that compute intensive strategies were not suitable due to their high energy consumption, negative environmental impact, and limitations in scalability and transaction throughput.
Although capability-based protocols offer potential for reducing energy consumption, they create an unequal advantage for those with more resources and leave the system vulnerable to malicious attacks. On the other hand, while voting-based protocols improve scalability and transaction throughput, they come at the cost of reduced decentralization and increased energy consumption due to high data transfer rates.
There is an pressing need for a cutting-edge blockchain consensus protocol that can address the growing disparity between current protocols and customer demands. This innovative solution must prioritize energy efficiency, decentralization, scalability, and lightning-fast transaction processing to effectively support rapidly growing collaborative ecosystems.
After considering all these factors, our team has determined that the DPoS consensus mechanism provides the most comprehensive solution that balances network requirements and participant needs. It is the ideal choice for bridging the gap between current protocols and customer demands.
· It enables greater scalability over the traditional PoW and PoS consensus uses by Bitcoin, BNB, Ethereum, and Polygon.
· The network is uniquely democratic and decentralizes governance through the election of delegates that represent its users.
· The entrance threshold in DPoS consensus is extremely low which makes it one of the most decentralized consensus mechanisms due to anyone's ability to participate in the network and it's governance decisions.
· DPoS mechanisms provide enhanced protection from double-spend attacks.
The complexity of consensus mechanisms and blockchain technology as a whole means that a careful and well-planned approach is essential. The establishment of proper settings and rules of interaction within the network is crucial to ensure that the network operates efficiently and securely.
The implementation of consensus mechanisms and other elements of a blockchain network must be done in such a way that they are able to adapt to changing conditions and meet the evolving needs of the network. The rules of interaction within the network must be designed to encourage collaboration and prevent any malicious activities that could compromise the security and stability of the network.
The Tokenomics of Nexis Network is founded on the principles of DPoS economics, providing an ecosystem that incentivizes and rewards the participation of network participants. This economic model is designed to optimize interactions among participants, making it easier for them to collaborate and act for the benefit of the network. The goal is to create a harmonious and mutually beneficial environment where participants can thrive and contribute to the growth and success of the network.
In essence, the Tokenomics of Nexis Network is a set of economic rules and regulations that govern the behavior of participants in the blockchain network. By aligning the interests of participants with the goals of the network, it ensures that everyone is working together towards a common goal and is motivated to act in the best interest of the network. This results in a dynamic and thriving ecosystem that is beneficial to all parties involved
Nexis Network's token economy is designed to foster a robust and self-sustaining ecosystem that aligns participant incentives with the security and decentralization of the network. The primary actors in this economy are validation clients, who are rewarded through a combination of protocol-based incentives and transaction fees.
Protocol-based rewards are generated from an inflationary issuance schedule and constitute the primary source of incentives for validation clients in the early stages of the network. The inflation rate is disinflationary, providing the network with a predictable supply and promoting long-term economic stability.
Transaction fees, on the other hand, are attached to network interactions as motivation and compensation for the validation and execution of proposed transactions. The fees are partially burned to ensure long-term economic stability and protect against network forks.
Nexis Network's inflation schedule is uniquely defined by its parameters, with an emphasis on providing a predictable supply. The network's adjusted staking yield considers the impact of token dilution on participant behavior, while storage rent economics aim to account for the cost of maintaining the active state of the ledger.
As mentioned above, the network's Inflation Schedule is uniquely described by three parameters: Initial Inflation Rate, Dis-inflation Rate and Long-term Inflation Rate. When considering these numbers, there are many factors to take into account:
A large portion of the NZT issued via inflation will be distributed to stake-holders in proportion to the NZT they have staked. We want to ensure that the Inflation Schedule design results in reasonable Staking Yields for token holders who delegate NZT and for validation service providers (via commissions taken from Staking Yields).
The primary driver of Staked Yield is the amount of NZT staked divided by the total amount of NZT (% of total NZT staked). Therefore the distribution and delegation of tokens across validators are important factors to understand when determining initial inflation parameters.
Yield throttling is a current area of research that would impact staking-yields. This is not taken into consideration in the discussion here or the modeling below.
Overall token issuance - i.e. what do we expect the Current Total Supply to be in 10 years, or 20 years?
Long-term, steady-state inflation is an important consideration not only for sustainable support for the validator ecosystem and the Nexis Network Foundation grant programs, but also should be tuned in consideration with expected token losses and burning over time.
The rate at which we expect network usage to grow, as a consideration to the dis-inflationary rate. Over time, we plan for inflation to drop and expect that usage will grow.
Based on these considerations and the community discussions following the initial design, the Nexis Network proposes the following Inflation Schedule parameters:
Initial Inflation Rate: 8%
Dis-inflation Rate: −15%
These parameters define the proposed Inflation Schedule. Below we show implications of these parameters. These plots only show the impact of inflation issuances given the Inflation Schedule as parameterized above. They do not account for other factors that may impact the Total Supply such as fee/rent burning, slashing or other unforeseen future token destruction events. Therefore, what is presented here is an upper limit on the amount of NZT issued via inflation.
In the above graph we see the annual inflation rate [%] over time, given the inflation parameters proposed above.
Similarly, here we see the Total Current Supply of NZT [MM] over time, assuming an initial Total Current Supply of 35,40,50 NZT (i.e. for this example, taking the Total Current Supply as of 02/10/2023 and simulating inflation starting from that day).
Setting aside validator uptime and commissions, the expected Staking Yield and Adjusted Staking Yield metrics are then primarily a function of the % of total NZT staked on the network. Therefore we can we can model Staking Yield, if we introduce an additional parameter % of Staked NZT:
% NZT Staked= Total Current Supply / Total NZT Staked
This parameter must be estimated because it is a dynamic property of the token holders and staking incentives. The values of % of Staked NZT presented here range from 50%-90%, which we feel covers the likely range we expect to observe, based on feedback from the investor and validator communities as well as what is observed on comparable Proof-of-Stake protocols.
Again, the above shows an example delegated rewards that a delegator might expect over time on the Nexis Network with the Inflation Schedule as specified. This is an idealized Staked Yield as it neglects validator uptime impact on rewards, validator commissions, potential yield throttling and potential slashing incidents. It additionally ignores that % of delegated NZT is dynamic by design - the economic incentives set up by this Inflation Schedule are more clearly seen when Token Dilution is taken into account (see the Adjusted Staking Yield section below).
The values below represent the values of tokens needed to be accepted as a potential validator or delegator on the Nexis Network:
To become a Validator user needs to get at least 10k of NZT Tokens
To become a Delegator user should have at least 1 NZT DPOS (Delegated Proof of Stake) provides the opportunity for delegators to “vote” on potential validators by staking tokens on them and increasing their chances of becoming validators.
Community
32.87%
44,374,500
Released to the community upon launch as a fair launch.
Core Contributors
15%
20,250,000
Vested for 36 months and released over the next 3 years.
Grants
5%
6,750,000
Governed by the community to give to new projects.
CEX Market Making
5%
6,750,000
Distributed to centralized exchanges for market making.
Airdrops
1.2%
1,620,000
Distributed via airdrops to bring awareness to the network over the next 62 months.
Venture Capital
15%
20,250,000
Distributed towards people who get rugged or scammed on our network via governance voting.
Node Validator Rewards
25.93%
35,000,000
Reward emissions distributed to node validators over several years.
• Native token name = Nexis
• Native token symbol = NZT
• Wrapped token name = Wrapped Nexis
• Wrapped token symbool = WNZT
Genesis pre-mined supply = 100,000,000 (100 Million NZT)
Max Total supply = 135,000,000 (135 Million NZT)
Total circulating supply = 100,000,000 (100 Million NZT)
Burn Rate = 50% of gas fee's
Inflation rate = ~9%
NZT initial starting price = $0.08
Nexis Network
Ethereum
BNB Chain
Binance Smart Chain
Polygon
Avalanche C-Chain
Fantom
Optimism
The small fees paid to process instructions on the ExNZT Network blockchain are known as "transaction fees".
As each transaction (which contains one or more instructions) is sent through the network, it gets processed by the current leader validation-client. Once confirmed as a global state transaction, this transaction fee is paid to the network to help support the economic design of the ExNZT Network blockchain.
Transaction fees offer many benefits in the ExNZT Network economic design described below. Mainly:
They provide compensation to the validator network for the CPU/GPU resources necessary to process transactions
Reduce network spam by introducing real cost to transactions
Provide long-term economic stability to the network through a protocol-captured minimum fee amount per transaction
NOTE: Network consensus votes are sent as normal system transfers, which means that validators pay transaction fees to participate in consensus.
Many blockchain networks (e.g. Bitcoin and Ethereum), rely on inflationary protocol-based rewards to secure the network in the short-term. Over the long-term, these networks will increasingly rely on transaction fees to sustain security.
The same is true on ExNZT Network. Specifically:
A fixed proportion (initially 50%) of each transaction fee is burned (destroyed), with the remaining going to the current leader processing the transaction.
A scheduled global inflation rate provides a source for rewards distributed to ExNZT Network Validators.
As mentioned above, a fixed proportion of each transaction fee is burned (destroyed). This is intended to cement the economic value of NZT and thus sustain the network's security. Unlike a scheme where transactions fees are completely burned, leaders are still incentivized to include as many transactions as possible in their slots.
Burnt fees can also help prevent malicious validators from censoring transactions by being considered in fork selection.
In the case of a Proof of History (PoH) fork with a malicious, censoring leader:
due to the fees lost from censoring, we would expect the total fees burned to be less than a comparable honest fork
if the censoring leader is to compensate for these lost protocol fees, they would have to replace the burnt fees on their fork themselves
thus potentially reducing the incentive to censor in the first place
Transactions fees are calculated based on two main parts:
a statically set base fee per signature, and
the computational resources used during the transaction, measured in "compute units"
Since each transaction may require a different amount of computational resources, they are alloted a maximum number of compute units per transaction known as the "compute budget".
The execution of each instruction within a transaction consumes a different number of compute units. After the maximum number of compute units has been consumed (aka compute budget exhaustion), the runtime will halt the transaction and return an error. This results in a failed transaction.
Recently, ExNZT Network has introduced an optional fee called the "prioritization fee". This additional fee can be paid to help boost how a transaction is prioritized against others, resulting in faster transaction execution times.
The prioritization fee is calculated by multiplying the requested maximum compute units by the compute-unit price (specified in increments of 0.000001 lamports per compute unit) rounded up to the nearest lamport.
Transactions are required to have at least one account which has signed the transaction and is writable. Writable signer accounts are serialized first in the list of transaction accounts and the first of these accounts is always used as the "fee payer".
Before any transaction instructions are processed, the fee payer account balance will be deducted to pay for transaction fees. If the fee payer balance is not sufficient to cover transaction fees, the transaction will be dropped by the cluster. If the balance was sufficient, the fees will be deducted whether the transaction is processed successfully or not. In fact, if any of the transaction instructions return an error or violate runtime restrictions, all account changes except the transaction fee deduction will be rolled back.
Transaction fees are partially burned and the remaining fees are collected by the validator that produced the block that the corresponding transactions were included in. The transaction fee burn rate was initialized as 50% when inflation rewards were enabled at the beginning of 2021 and has not changed so far. These fees incentivize a validator to process as many transactions as possible during its slots in the leader schedule. Collected fees are deposited in the validator's account (listed in the leader schedule for the current slot) after processing all of the transactions included in a block.
Nexis Network testnet development - on time
Nexis Network testnet deployment - on time
Decentralized exchange (DEX) development - on time
NexisSwap non-custodial mobile app development - on time
NFT marketplace development - on time
Staking dApp development - on time
NexisSwap Alpha testing launch - on time
Decentralized exchange testnet deployment - on time
Nexis Network testnet deployment with internal testing - on time
Nexis Network testnet deployment to public Beta - on time
Nexis Network node validator incentivized program - on time
Decentralized exchange mainnet deployment - on time
Staking dApp testnet deployment - on time
Testnet block explorer development - on time
Mainnet block explorer development - on time
Nexis Network testnet ecosystem dApp development - on time
Nexis Network smart contract audits - on time
Launchpad partnership development - on time
Nexis Network Mainnet deployment - on time
NZT pre-listed on CoinMarketCap - on time
NZT pre-listed on CoinGecko - on time
NZT fair launch public sale on launchpad partner(s) - on time
Develop CEX listing partnerships for NZT - on time
Develop RPC provider partnerships for the Nexis Network - on time
Testnet block explorer deployment - on time
Mainnet block explorer deployment - on time
Launchpad development - on time
Cross-chain bridge development - on time
non-custodial mobile wallet deployment to mainnet - on time
CEX listing(s) for NZT preparation
Team expansion (2-4 developers)
Corporate partnership(s) development for payment processing using NZT
Web3 wallet extension development - ahead of schedule
Goal of 50-100 node validators
Ecosystem expansion
Launchpad deployment to mainnet - on time
Cross-chain bridge deployment to mainnet - on time
non-custodial mobile wallet deployment to mainnet - on time
Nexis Network web wallet and node delegation development
Nexis Network mobile wallet and node delegation development
Web3 wallet extension beta testing
Metaverse development discovery or partnership creation
Healthcare data management Web3 wallet discovery and planning phase
Goal of 100 node validators
Stable coin discovery phase or partnership with established project
NFT Marketplace discovery phase or partnership/grant towards a project
Loginless account development
Nexis Pay for eCommerce and merchants development
Nexis Network web wallet and node delegation public beta testing
Nexis Network mobile wallet and node delegation public beta testing
Nexis Network grant and governance voting established
Dedicated RPC node providers partnerships and ecosystem expansion
Loginless account public beta testing
Nexis Pay for eCommerce and merchants public beta testing
Web3 wallet extension deployment
Goal to have 5-10 projects building on Nexis Network or integrating Nexis Network
CEX listings
Ethereum Virtual Machine (EVM). ethereum.org. (n.d.). Retrieved October 19, 2022, from https://ethereum.org/en/developers/docs/evm/
Creadore, S. G. (2022, October 10). Nexis network whitepaper. Nexis Network Developer Documentation. Retrieved November 2, 2022, from https://docs.Nexis.technology/
Nguyen, Cong & Dinh Thai, Hoang & Nguyen, Diep & Niyato, Dusit & Nguyen, Huynh & Dutkiewicz, Eryk. (2019). Proof-of-Stake Consensus Mechanisms for Future Blockchain Networks: Fundamentals, Applications and Opportunities. IEEE Access. PP. 1-1. 10.1109/ACCESS.2019.2925010.
Saltini, Roberto & Hyland-Wood, David. (2019). IBFT 2.0: A Safe and Live Variation of the IBFT Blockchain Consensus Protocol for Eventually Synchronous Networks.
OpenZeppelin. (n.d.). Retrieved November 2, 2022, from https://www.openzeppelin.com/
Team, S. (n.d.). Solidity programming language. Solidity Programming Language. Retrieved November 2, 2022, from https://soliditylang.org/
The information described in this paper is preliminary and subject to change at any time. Furthermore, this paper may contain forward-looking statements. Forward-looking statements generally relate to future events or our future performance. This includes, but is not limited to, Avalanche’s projected performance; the expected development of its business and projects; execution of its vision and growth strategy; and completion of projects that are currently underway, in development or otherwise under consideration. Forward-looking statements represent our managements beliefs and assumptions only as of the date of this presentation.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks, which may cause actual performance and results in future periods to differ materially from any projections expressed or implied herein.
Nexis Network undertakes no obligation to update forward looking statements. Although forward-looking statements are our best prediction at the time they are made, there can be no assurance that they will prove to be accurate, as actual results and future events could differ materially. The reader is cautioned not to place undue reliance on forward-looking statements.
Users, individuals, entities and companies purchasing Nexis (NZT), Wrapped Nexis (WNZT) including any associated coin/token or using any of Nexis Networks associated servicees and/or products undeniably agree and fully understand that Nexis Network and it's associated developers do not hold any responsibility of gains or loses and can not be held resposible for any actions that may lead to such by any users on the network. These same Users, individuals, entities and companies undeniably agree that Nexis (NZT), Wrapped Nexis (WNZT) and any affiliated coin/token are not an investment of money, not an investment in a company, not an investment in a managing team, and not a form of security, stock, or anything else resembling such. Therefore, by utilzing Nexis Networks services, products, or purchasing Nexis (NZT), Wrapped Nexis (WNZT), or any affiliated coin/token you hereby agree it is to be utilized and thought of strictly as a utility coin/token within the Nexis Network ecosystem to power the economy of products and services within the network and forfeit any deniability to claims stating otherwise and cannot pursue any legal or non-legal action towards any developer developing or any founder the Nexis Network. These same individuals also hold full responsibility of their own countries, state, or governing bodies laws and regulations and hereby revoke any responsibility towards of Nexis Network and any associated developer or community member or contributor of any responsibility regarding these laws and regulations and legal action as the responsibility is upon the user since Nexis Network is owned by the community and community operated.
Users also agree and undeniably understand that Nexis Network is decentralized, community driven, and the communities responsibility to maintain and keep running and this is not a responsibility of the core contributors or developers or founders. As the founders, developers, and core contributors hold zero ownership or responsibility over the Nexis Network and are only community participants.
You acknowledge and agree that there are numerous risks associated with purchasing NZT, holding NZT, and using NZT for participation in the Nexis Network Platform. In the worst scenario, this could lead to the loss of all or part of the NZT which had been purchased. IF YOU DECIDE TO PURCHASE NZT, YOU EXPRESSLY ACKNOWLEDGE, ACCEPT AND ASSUME THE FOLLOWING RISKS:
The regulatory status of NZT and distributed ledger technology is unclear or unsettled in many jurisdictions. The regulation of virtual currencies has become a primary target of regulation in all major countries in the world. It is impossible to predict how, when or whether regulatory agencies may apply existing regulations or create new regulations with respect to such technology and its applications, including NZT and/or the Nexis Network Platform. Regulatory actions could negatively impact NZT and/or the Nexis Network Platform in various ways. The Foundation, the Distributor (or their respective affiliates) may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction. After consulting with a wide range of legal advisors and continuous analysis of the development and legal structure of virtual currencies, a cautious approach will be applied towards the sale of NZT. Therefore, for the token sale, the sale strategy may be constantly adjusted in order to avoid relevant legal risks as much as possible.
As at the date hereof, the Nexis Network Platform is still under development and its design concepts, codes, and other technical details and parameters may be constantly and frequently updated and changed. Although this white paper contains the most current information relating to the Nexis Network Platform, it is not absolutely complete and may still be adjusted and updated by the Nexis Network team from time to time. The Nexis Network team has no ability and obligation to keep holders of NZT informed of every detail (including development progress and expected milestones) regarding the project to develop the Nexis Network Platform, hence insufficient information disclosure is inevitable and reasonable.
The development of the Nexis Network Platform greatly depends on the continued co-operation of the existing technical team and expert consultants, who are highly knowledgeable and experienced in their respective sectors. The loss of any member may adversely affect the Nexis Network Platform or its future development. Further, stability and cohesion within the team is critical to the overall development of the Nexis Network Platform. There is the possibility that conflict within the team and/or departure of core personnel may occur, resulting in negative influence on the project in the future.
There is the risk that the development of the Nexis Network Platform will not be executed or implemented as planned, for a variety of reasons, including without limitation the event of a decline in the prices of any digital asset, virtual currency or NZT, unforeseen technical difficulties, and shortage of development funds for activities.
Hackers or other malicious groups or organizations may attempt to interfere with NZT and/or the Nexis Network Platform in a variety of ways, including, but not limited to, malware attacks, phishing attacks, supply chain attacks, and brutal attacks. Furthermore, there is a risk that a third party or a member of the Foundation, the Distributor or their respective affiliates may intentionally or unintentionally introduce weaknesses into the core infrastructure of NZT and/or the Nexis Network Platform, which could negatively affect NZT and/or the Nexis Network Platform. Further, the future of cryptography and security innovations are highly unpredictable and advances in cryptography, or technical advances (including without limitation development of quantum computing), could present unknown risks to NZT and/or the Nexis Network Platform by rendering ineffective the cryptographic consensus mechanism that underpins that blockchain protocol.
In addition, the potential risks briefly mentioned above are not exhaustive and there are other risks associated with your purchase, holding and use of NZT, including those that the Foundation or the Distributor cannot anticipate. Such risks may further materialize as unanticipated variations or combinations of the aforementioned risks. You should conduct full due diligence on the Foundation, the Distributor, their respective affiliates, and the Nexis Network team, as well as understand the overall framework, mission and vision for the Nexis Network Platform prior to purchasing NZT.
Velas. (n.d.). Velas [Computer software]. GitHub. Retrieved November 2, 2022, from
Ethereum Virtual Machine (EVM)
Built in Solana Framework
Nexis Wallet Chrome extension
Nexis Network dApps
Decentralized Applications
High-performance dApps focused on user privacy and flexibility.
Decentralized Finance
Insightful solutions that bring decentralized finance up a level.
Non-fungible Tokens
Top-quality NFT art that brings in much-needed monetization.
Data management
Firmly secure private data, speed up data transfers, and lower data storage costs.
Metaverse
Immersive metaverse projects with a reliable digital edge.
Web 3.0
Forward-minded projects developed with the Web 3.0 principles.
Logistics
Utilize smart contracts to automate logistics and flow of information.
Artificial Intelligence
Leverage the power of blockchain to power your artificial intelligence solutions.
Play-to-Earn Games
Play-to-Earn game concepts implemented at the max potential.
