Introduction

The 2018 Nexus Conference in September was filled with new and exciting technology updates, education about the future of blockchain, and inspirational speakers that reminded everyone of the beautiful and exceptional opportunities our world has to offer. First and foremost, Nexus would like to thank all of our partners, sponsors, speakers, exhibitors, volunteers, community, and attendees, who made this one of the most enjoyable blockchain events of the year.

Photo © 2018 Monica Rose Photo

 

The Tritium Software Stack that Nexus has been developing was demonstrated by Colin Cantrell, the Founder & Architect of Nexus. In tandem, the developers have been working on the integration of LISP (Locator/ID Separation Protocol) to increase the speed and security of message propagation on the network level, presented by Dino Farinacci and Victor Moreno.

The team has also been focusing on the reorganization and restructuring of the US Embassy, to realign with the decentralized social and financial principles originally outlined in the Genesis White Paper. With these exciting changes, the team and community will be moving forward and will continue to promote the ascent of Nexus as a leader in the blockchain and cryptocurrency industry.

The 2018 Nexus Conference Recap

Photo © 2018 Monica Rose Photo

 

2018 has been filled with conferences of all kinds. There are conferences that focus on hackathons, ICO projects, economic forums, and business development, all interested in educating the world about blockchain technology, new governance models and economic systems. None though are quite like The Nexus Conference. An intimate event of 350 people, the main focus of the conference was to bring people together who truly wanted to get into the trenches and build these new systems.

Photo © 2018 Monica Rose Photo

 

The event began with the Blockchain 101 course that introduced new enthusiasts to how exactly this distributed peer-to-peer truth machine works. Later during the conference, a speaker asked the crowd, “By a show of hands, for how many of you is this your first blockchain conference ever?” and half the audience raised their hand. Bringing new people into this emerging industry is an important part of the overall growth model, as the goal of freedom through financial and informational accessibility was at the center of Bitcoin, the original blockchain protocol.

Photo © 2018 Monica Rose Photo

 

Conversations at The Phoenician centered around how our society has evolved thanks to technology, especially since the information age started, with the invention of the internet. Nicholas Thompson of WIRED took the crowd on a journey through the history of technology and how it has impacted every stage of our lives. Jay Samit demonstrated how everything we do, from planning our calendar to ordering our food, is now virtual. Scott Hines shared his insight on how our digital identities will play a big role in machine learning. Jim Cantrell took the stage to remind everyone that the point of all this hard work is to give monetary control back to the people.

The last day of the conference introduced the attendees to one of Nexus’ invaluable advisors: Steve Beauregard, CRO of Bloq, who has had a profound impact on the evolving cryptosphere. James Glasscock focused on innovating curation through the distributed gig and token economy. After diving deeper into the regulation of the SEC, participants were invited to the first ever Nexus working groups.

The very first Nexus working groups produced very fruitful discussions, ranging from the technical exploration of the ledger, contracts, and network, to discussions relating to distributed social organization and how Nexus could create scalable self organizing structures. The DAC working group lasted for over 3 hours, which showed signs of intense interest in the discussion. This was important, as the fundamental aspects of decentralized technology rely on our ability to organise ourselves in new ways. The proposed structures and understanding of the limitations of our current options helped spur the discussion. We will set up online groups for all of the working groups and will hold regular Zoom meetings to combine knowledge in developing new standards. If anyone would like to join a working group (DAC, Network, Ledger, Contracts, API/Functionality, Architecture), please contact [email protected]

We hope that everyone walked away from the conference with a better understanding of blockchain, cryptocurrencies, and the Nexus technology and are inspired to get involved in projects that advance the goals of making our society better for everyone in the world. We look forward to continuing the working groups so developers, business leaders, and average users can play an active role in what we’re building.

 

Conference Gallery Photos © 2018 Monica Rose Photo

Tritium in Action

Photo © 2018 Monica Rose Photo

 

At the 2018 Nexus Conference, Colin Cantrell, Nexus Founder and Software Architect, gave a brilliant presentation explaining the latest developments of the Nexus Tritium protocol. Tritium is the first release of the Nexus Three Dimensional Blockchain (3DC), and will be followed by Amine and Obsidian. He explained the necessity of each layer of the Tritium software stack (Network, Ledger, Register, Operations, Logical, API and Interface), their different functions, and gave a deeper explanation of the Lower Level Library (LLL). Colin displayed some impressive benchmark tests comparing the Nexus Lower Level Database (LLD) read / write speeds to Ripple Nu DB, Google Level DB and Oracle Berkeley DB (spoiler: Nexus tested faster than all). He also demonstrated a live, functioning demo of Tritium with the entire stack running, and introduced many business use cases for advanced contracts.

Read the full recap and watch the presentation here.

Watch the full presentation here.

Global Embassy Distribution

The team conducted a key allocation meeting via Zoom on October 5th as part of the ongoing reorganization of the current Nexus Embassy, US. Staying true to the initiative of getting back to our roots, Colin Cantrell stated that the purpose of the meeting was to discuss global strategies, with community input on how the Embassy’s can be distributed.

It was proposed that in order to decentralize the organization, two new Embassies will be established – one in the United Kingdom, founded by Alex El-Nemer, and one in Australia, founded by Paul Screen, Mike Casey, and Nic Henry. The chairs of the meeting asked all 48 Zoom attendees whether there were any objections to the proposal, of which there were none.

US Embassy Restructuring

As part of the organizational restructure, certain positions have been eliminated or scaled down. The positions of CEO, formerly held by Ajay Ahuja, VP of Marketing, formerly held by Scott Bischoff, HR Manager, formerly held by Omnia Elawawzy, and Marketing Manager, formerly held by Wendy Katz are no longer paid positions at the US Embassy. The rest of the team want to thank them for all they have done for Nexus and wish them the best in their future endeavours. John Saviano, Nelson Sparks, and Colin Forbes (former CFO) have moved to contractor positions and will continue to help the project as needed. Alex El-Nemer will continue his activities within Global Business Development, but will couple this with leading the newly formed UK embassy.

The new Embassies will place additional emphasis on community involvement in the education of the technology. Business development will be the primary driver of marketing, as new use cases produce real stories that show the world how blockchain will help many different people. The secondary form of marketing will be blogs and updates written by the team, articles written by the community, educational videos and graphics, interviews, presentations and speaking opportunities at conferences, local meetups, and exhibits. In-house social media initiatives will continue to evolve and the team is meeting with some PR candidates to distribute communications to the mainstream media, secure placements for published articles, support the production of events, and to pitch for interview and speaking opportunities.

UK and Australia Embassies

Alex and Paul both spoke about the plans for their respective Embassies. Alex’s goal for the UK Embassy is to continue to develop relationships with companies who will increase the adoption of Nexus. They will do this through their networks by becoming a part of the Nexus ecosystem through blockchain use. Additionally, the UK embassy will hire developers tasked with building out the APIs necessary to integrate business applications with the Nexus blockchain, to increase enterprise involvement in the blockchain industry. The UK Embassy will continue to drive business development globally, but with a concentrated European focus.

The Australian Embassy will initially focus on starting an additional development team, with Paul taking on the role as an Ambassador to head communication efforts between the developers in all three countries. “The primary reason for starting all of these Embassies is a step to decentralize the project,” he said. This creates redundancy and risk mitigation as the team builds out the TAO framework and onboards new users. The plan is to hire 3-5 developers over the next 3-9 months, depending on NXS coin price, who will work on all layers of the Nexus software stack. The future plan is to scale out business development in Australia, New Zealand, and Southeast Asia.

Key Allocation

The current proposal for key allocation includes distributing three keys to the UK Embassy, three keys to the Australian Embassy, and seven keys to the new US Embassy. Once the new model is established, there is a second stage proposal to allocate two more keys (one to the UK and one to Australia) depending on the future price point. The third stage proposal is for the three Embassies to choose another candidate each for an allocation of a key. The Australian Embassy will focus on Southeast Asia, the UK will assess some potential candidates in Europe, and the US Embassy will search for a candidate in the South American region. Each Embassy will be sovereign, independent, and accountable for managing their own finances. They will also collaborate together on technological and business development, and share outsourced support services, such as PR, if mutually agreed through consensus.

Distributed Autonomous Community

One of the most exciting events at The Nexus Conference was the working group centered around creating a Distributed Autonomous Community (DAC), so everyone who is involved in Nexus is able to have their voice heard. Facilitated by April Bunje and Jules Alexandra, the community discussed possible solutions to the problems often faced by organizations when attempting to scale. For three years, Colin has spoken about the necessity for the creation of a representative structure and a cryptographic voting mechanism, to facilitate the allocation of funds that originate from the self-funding mechanism of the Nexus blockchain. The DAC organizational design is in development, with the plan to have it fully built out with the completion of Obsidian. The current structure encompasses different voting groups. The design is in an early stage of development, and we welcome as much collaboration on the research and design of it as possible.

You can listen to the whole meeting here.

 

Onboarding Enterprise

Over the last year, Nexus has taken a unique approach to market research for the development of advanced contracts and APIs. The team has focused on business development, building partnerships that will help Nexus achieve its goals. Alex El-Nemer spoke in the key allocation meeting at the beginning of October about reaching out to companies to help them solve their most challenging problems. “When we have a meeting, we don’t go in pushing a blanket product, we just ask them, how can we help?” said Alex, explaining how the Nexus team approaches new partners.

Most companies are in the early days of understanding how blockchain technology can help them, and it’s important to educate them on what blockchains can and cannot offer. The team also helps businesses discern what they need from a public blockchain versus what can be accomplished with a public-private hybrid system. The next step is building a pilot: showing them how the code works and how it can be integrated into their systems through an API.

Many companies are already aware of the potential use cases of blockchain technology for their business model. Some have been researching and developing for a year or more, but are finding the limitations posed by other protocols, like the scaling issues on the Ethereum Smart Contracts Platform, and are now looking for a new solution. “Those that do know what it’s all about and are looking for people who can do it better than everyone else,” said Paul Screen.

Nexus’ use cases built by advanced contracts will have the primary focus on:

  1. Automated peer to peer global transactions including the transfer of asset ownership
  2. Immediate unbiased contract execution, replacing the need for third party escrow services
  3. Consumer account verification to reduce fraud relating to social engineering attacks
  4. Supply chain transparency and management, to reduce counterfeiting of goods and to prove the adherence to consumer and industry standards
  5. Tokenization of digital data to create copyrights or licenses while automating royalty payments
  6. The use of access control schemes to log and control the security to private database systems
  7. Improvements in auditing through financial transparency

Nexus has also been collaborating with TechUK, a government trade organization. Alex and TechUK wrote a blockchain use case report, which has been distributed to over 900 TechUK members, including companies such as Facebook and Amazon. This report is raising the awareness of Nexus’ innovations, and we are actively collaborating with similar bodies in other countries.

One of the industries that the team is very passionate about is music, as Colin, Alex, Brian Vena and many others who support Nexus are musicians and music lovers. One of their greatest wishes is to empower artists, by creating technology that ensures artistic talent is rewarded and supported financially. This is one of the goals of the new partnership with SoundVault, a global music licensing and royalty tracking platform.

The feedback gathered from meetings with corporations and small businesses has helped Colin and the development team shape the architecture of Tritium, taking into account the needs of different industries, thus enabling the creation of truly useful technology. The team will continue building these relationships and connecting with more companies to establish real-world use cases for the Nexus blockchain.

Nexus Partners with Spacechain

At the Nexus Conference, Nexus announced its revolutionary partnership with SpaceChain, the decentralized space agency that plans to build an open-source, blockchain-based satellite network. The partnership centers around collaboration to deploy a decentralized internet in space. SpaceChain and Nexus have discussed hosting each other’s nodes on their respective future satellites, and there are many more exciting developments to be explored. Additionally, Jeff Garzik, one of the founders of SpaceChain, is joining the Nexus team as an advisor.

Read about the partnership here.

Network Trust Update

Since the Trust update (2.5.1) on the 13th of September, which replaced the expiration of Trust Keys with trust scores, the number of Trust Keys has doubled to over 400 active keys. This shows that more people are actively staking, providing higher network security, taking NXS off the market.

Read the new Proof of Stake with Tritium Trust White Paper here.

Upcoming Events

October 31- November 2nd: Dionna Bailey and Anastasiya Maslova are heading to World Crypto Con in Las Vegas.

November 3rd-9th: Colin Cantrell and Dino Farinacci will be attending the IETF in Bangkok, Thailand

November 16th-17th: Colin Cantrell will be at CryptoFinance conference in Oslo

November 18th: Colin Cantrell and Alex El-Nemer will be at the Polish meetup in Poland. Details: https://www.meetup.com/Nexus-Earth/events/255385587/

We are excited to continue developing our technology and social structure with the help of our community.

The Nexus Team