NEXUS.IO BLOCKCHAIN 101 FAQs & GLOSSARY
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Nexus Frequently Asked Questions

Glossary

With the advancement of our technology, Nexus has introduced several words into the crypto vocabulary. These words are sprinkled throughout many of our pages, as well as in our Whitepapers found on our website. We have created a Glossary to help define our meaning of these new words. If there are additional terms not listed below that you would like to see added, please visit the Inquiry page and submit a request for the team under the "Feedback" topic.

An API is an Application Programming Interface. While a user interacts with a system through a user interface, an API allows developers to interact through a programmatic interface. The API provides a list or set of simple commands that execute a series of operations, which would otherwise require specialist programming knowledge. This allows a developer to request or submit data to a system providing functionality to a higher-level application. For example, Facebook’s Graph API allows access to 'Login with Facebook' and other features of their system.

Upon receipt of a Genesis transaction, this value will begin increasing slowly, reaching 100% in 3 days time. Every time you receive a staking transaction, the block weight resets. Your wallet must mine a stake block and generate a transaction before it reaches 100% for trust weight and stake rate to keep increasing. If your block weight reaches 100%, it will stay at 100% and both your trust weight and stake rate will begin to decay.

Smart Contracts are self-executing. Their design is to enforce the terms and conditions of a contract through programmable logic, reducing the need for third party intermediaries such as brokers and banks. Smart Contracts are an additional layer of processing above the ledger layer, i.e what is known as ‘the blockchain’, and are comparable to small computer programs that hold a state of information. The calculations of the contract are carried out by the processing nodes of a blockchain, which change the state of the information. Given that the calculations or processing is carried out by distributed consensus, the state of a Smart Contract is immutable.

Similar to other forms of mining, Proof of Stake mining has a level of difficulty. As more people successfully stake on the network, the difficulty of staking increases. This results in an increasing amount of NXS required to increase the stake rate. Furthermore, a larger balance of NXS in your wallet will increase the frequency of NXS rewards.

This value represents your current annual NXS rate of return (%). The rate starts at 0.5%, and can increase to 3.0% after 12 months of consistent staking. The rate increase is non linear, slowing in terms of its increase over time. It takes several weeks of consistent staking to reach 1.0%, and around four months to reach 2.0%. With this rate, you can calculate the average amount of NXS you can expect to receive each day for staking.

This value represents your current annual NXS rate of return (%). The rate starts at 0.5%, and can increase to 3.0% after 12 months of consistent staking. The rate increase is non linear, slowing in terms of its increase over time. It takes several weeks of consistent staking to reach 1.0%, and around four months to reach 2.0%. With this rate, you can calculate the average amount of NXS you can expect to receive each day for staking. Stake weight is a derivative value calculated from trust weight and block weight. It indicates their combined impact on chances to generate a staking transaction. The higher your stake weight, the greater your chance of receiving a transaction. The exact value is derived from your trust weight and block weight.

Each letter represents one of the three upgrades of the TAO Framework which includes the deployment of the Three-Dimensional Chain (3DC). Each consensus upgrade corresponds to the addition of a transaction level lock which will transform transaction processing into a multi-dimensional process. You can learn more about the TAO framework on our website's Roadmap page, or in the Resource Hub.

Tritium (T) – L1

Amine (A) – L2

Obsidian (O) – L3

Nexus implements a reputation mechanism called ‘trust’ that records the consistent time that a node contributes to the validation process. Trust decreases three times faster than it accrues and translates into a variable stake reward of between 0.5% to 3% per annum. Trust also benefits the Network layer, where nodes can determine the reputation or reliability of the nodes they are talking to, increasing security against ‘Sybil Attacks’. For more information about Trust, please visit the Trust page in the Resource Hub.

An indication of how much the network trusts your node. It starts at 1.11% and increases in a non-linear manner like stake rate does. Your level of trust increases your stake weight (below), thus increasing your chances of mining stake blocks and receiving staking rewards. It becomes easier to maintain trust as this value increases.