PRESS RELEASE. PotCoin (Ᵽ) is migrating over from their legacy blockchain to Nexus (NXS). PotCoin has made Nexus their platform of alternative, with the boldness that collectively they are going to greatest serve the rising hashish trade. The leisure and medical hashish market in North America already accounts for roughly $17.7 billion in 2021 and is forecast to succeed in 47.3 billion by 2027 , an estimated 44% annual enhance. As hashish continues to be decriminalized and legalized all over the world, the potential for financial progress is exponential. After a lot consideration, PotCoin acknowledged Nexus as being the perfect suited platform to help their ambitions on this quickly rising trade.
“With the massive progress predictions for the trade, we required a platform that would deal with future transaction quantity. A scalable structure, DApp growth by means of APIs, the substitute of static non-public keys with One-Time Signatures (OTS), and use of main submit quantum cryptography have been all driving components in our resolution emigrate to Nexus. The $POT group is extraordinarily excited and appreciates the nice and cozy welcoming from Nexus. With this partnership and the incredible tech that’s now obtainable to us, we’re absolutely ready to construct out options that may change the way forward for the hashish trade!” – Josh Inthecity
The migration will happen by means of a decentralized swap module constructed for Bitcoin based mostly cash. At which level the PotCoin group will take pleasure in free transactions utilizing $POT because it was initially supposed: a forex for the hashish trade. The $POT crew plans to increase using tokens as incentives to dispensaries and as buyer rewards.
Future DApp growth for $POT consists of provide chain administration, to confirm certification requirements and high quality assurances, from seed to sale (S2S). The know-how will likely be constructed with Nexus Belongings and Tokens that are simply configurable by means of the Nexus API. Belongings are a knowledge storage system that may preserve an immutable report and historical past of any digital merchandise, together with its present and former states. By design, the switch and claiming of an Asset between blockchain accounts (SigChains) offers a historical past of a series of custody, and any modifications to the Asset. Tokens then again, can present fungible illustration of batches of products, reminiscent of a current harvest. Subsequently, the Nexus platform is ready to report provide chain information with out having to keep up a fancy state and historical past in a single contract as do different blockchain applied sciences. Naturally, the DApp will substitute current S2S monitoring techniques reminiscent of MJ Freeway, which presently has maintained monopolies in states reminiscent of Utah .
Based in 2014, PotCoin (Ᵽ) was the primary cryptocurrency designed to supply monetary companies for the hashish trade, which on the time was thought of unserviceable by conventional banking. PotCoin, like Nexus, is a community-driven challenge, working as a decentralized group by means of which the group in the end influences the challenge’s growth and course. PotCoin combines in depth trade data with key partnerships, a dedicated group and broad advertising and marketing attain of their efforts to advertise hashish consciousness.
Nexus.io (NXS) is constructing a brand new web pushed by a blockchain-based working system (LX-OS) and routing protocol (Nexus Protocol), creating distributed satellite tv for pc constellations and floor based mostly content material supply and edge computing. Underpinning the muse is the Nexus TAO Framework, a seven layer software program stack that allows the simplified implementation of sensible contracts, Decentralized Purposes (DApps), tokens, and Non-Fungible Tokens (NFT’s, i.e. Belongings) by means of a set of extensible Utility Programming Interfaces (APIs).
Contracts: Nexus provides a 64 bit register-based digital machine as the center of its sensible contract engine. A set of APIs provides builders entry to quite a few ready-made contract functionalities. This relieves DApp builders from the burden of studying a wise contract language.
Tokens & Belongings (NFT’s): Fundamental token creation is easy for even non-technical people with the Nexus desktop pockets. Arbitrary information might be saved on the Nexus blockchain within the type of property. As soon as established, property might be transferred to different accounts optionally with specified contract circumstances.
Ease of Use: Nexus’ SigChains addresses a main blockchain limitation — non-public key administration. Customers can login to their Nexus pockets with a username, password, & PIN, offering entry to all accounts, tokens, and property. This eliminates the necessity to backup pockets.dat information and handle non-public keys.
Database: Not like most different blockchains that depend on Google’s LevelDB or Oracle’s BerkeleyDB for blockchain storage, Nexus has developed the Decrease Degree Database (LLD) that outperforms most storage engines by orders of magnitude and stays fixed time, which means it doesn’t decelerate as you add extra information to it.
Safety: The Nexus safety mannequin makes use of many layers of redundancy to supply safety to the system. The first strategies embody utilizing uniquely generated non-public keys for each transaction (assault window discount), and the secondary use of Quantum Resistant (QR) cryptography reminiscent of FALCON and SABER.
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