STAKING & MINING

Nexus has three consensus channels: one Proof of Stake (PoS), and two Proof of Work (PoW).

Staking is an energy efficient form of mining that forms the consensus that processes transactions on Nexus. Staking can only be performed with a Nexus wallet with continuous internet connection. You are rewarded NXS at a rate of 0.5% to 3.0% per year on your staked holdings. The rate is determined by a time-weighted score called ‘trust’ that represents the total consecutive seconds your wallet has been staking.

The Prime Channel is a PoW consensus that searches for 308-digit dense prime clusters, providing a degree of FPGA/ASIC resistance. The second PoW channel uses an algorithm called Hashcash, where miners search for SK hashes that are four times the size of Bitcoin’s SHA-256 hashes.

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