The Nimiq Discord Update — Week 3

As part of expanding the awareness for the Nimiq project, I will be writing up a weekly segment on what Team Nimiq & community have posted into the official discord regarding progress being made on all fronts.

Nimiq Activation (Post mainnet launch)

Work is currently being conducted on a semi-automatic tool “to help with activation” payouts (Changing NET to NIM). The window for activation is still open for approximately 5 months and is expected to begin the processing in the near future (Date TBA).

Nimiq Core v1.1.1 Released

With the on-going development of the Nimiq Core, the two developments being pushed out for this patch are improvements in mining performance and a bug fix for a floating point precision issue.

With the Release of v1.1.1 there has been a notable uptick in the Global hashrate, peaking at 924.02 MH/s for week 3 of the mainnet launch.

Exchanges (Listing & Discussion)

Robin Linus recently provided a quick update on the #General channel outlining the Nimiq team’s current priorities:

• fully stabilizing the mainnet and landscape of pools
• process all the early feedback from the community regarding all our systems
• getting NIM listed in an exchange. we’ve already applied to multiple exchanges and in parallel we’re researching more options.

Marketing (Plans & Strategy)

Whilst no detailed plans have been laid out yet, the team have emphasised the need to first stabilise the Nimiq network first before pushing out a social media strategy. In a response by Robin Linus to discord moderator Porkachu:

Porkachu: Nimiq team has a couple of PhDs on-board, and I’m hoping that beyond just an engineering project (which seems to be the focus so far, with the launch of the mainnet), Nimiq can also contribute some new and original research that helps push the crypto field forward. Is that in the plan?

Robin Linus: Thanks for this question!

I seriously hate stupid blockchain marketing and Nimiq will never do that. We’re about substance not about hype. Contributing research, organizing high-profile conferences, funding high-impact research and cooperations with universities are key to create an open source brand with substantial awareness.

Of course we will embed all of that in an effective social media strategy
with high frequency updates of valuable content
that’s state of the art
but all of that starts creating real substance with solid tech and that’s why we hired lots of security PhDs instead of starting to market hot air

Mining (Pools & Developments)

Week 3 of mainnet has seen multiple mining pools open up after the team released the official mining pool source code last week, with 10 pools listed on the official Team Nimiq Discord page with a number of private pools mining in the background. Peaking at 924.02 MH/s on the 6th of May, Week 4 looks set to continue the uptrend and break the 1.00 GH/s barrier.

Browser mining has also been updated so that users can now join a pool to increase the reliability of earning NIM.

Trading & Price

Despite exchanges still being on the horizon, there has been a healthy movement of NIM between users as a community member Hector has developed a nimiq-ethereum atomic swap tool to ensure any trades that take place between users removes the need for trust. There are bugs and other usability difficulties that still have to be overcome with the atomic swap tool, however, a solid foundation has been given to build upon.

The price for NIM OTC is currently hovering between $0.0075 to $0.01 per NIM.

Community (App devlopment & Announcements)

As this is the first week of the Nimiq Discord Update, I will be filling this segment in with community content for the next post. If you would like to promote your project to the community or have an announcement regarding Nimiq please message me via Medium (in the comments) or via my Discord handle @Symphonys in the Nimiq channel.

*This article is an opinion piece, some aspects maybe factually incorrect and maybe subject to change in the future. This is not financial advice.*

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