NEXA is a proof-of-work, UTXO Layer-1 blockchain with native tokens and smart contracts. NEXA is dedicated to constructing a decentralized financial system that ensures access for all. This article aims to explore various aspects of the NEXA blockchain and NEXA cryptocurrency, including their history, features, the value of the NEXA cryptocurrency, and a step-by-step guide on purchasing NEXA coins.

What Is NEXA Blockchain?

In a world where financial inclusivity is crucial, NEXA Blockchain emerges as a game-changer, aiming to provide the digital foundation for a permissionless financial system accessible to anyone, anywhere. Inspired by the original goal of Bitcoin, NEXA tackles the core problem of enabling individuals to freely transact directly with others, considering it a fundamental human right. By overcoming various challenges faced by existing cryptocurrencies, NEXA sets itself apart from the crowded market, offering a unique and promising solution.

NEXA adopts a UTXO-based blockchain architecture, similar to Bitcoin. Unlike the account model used in Ethereum, UTXO-based blockchains transfer value by moving nuggets of value between addresses and contracts. This design choice brings forth numerous advantages that have often been overlooked. UTXO-based blockchains excel in scalability at the layer-1 level, simplifying the process of validating transaction security. Moreover, they possess untapped potential for advanced functionality, waiting to be fully utilized.

Building upon this foundation, NEXA introduces its innovative Proof-of-Work (PoW) algorithm, which represents a significant breakthrough. The mining industry, driven by incentives, produces specialized hardware like FPGAs and ASICs, capable of more than just fast cryptographic hashing. NEXA's PoW algorithm leverages cryptographic Schnorr signatures, the same signatures used in NEXA transactions. Consequently, as the mining network becomes more efficient, the ability to produce and validate signatures improves. This scalability enhancement addresses a key bottleneck, as nodes struggle to validate signatures when the network grows. With the emergence of affordable hardware that can handle this task, this bottleneck will gradually disappear.

In the mid-term, another scaling bottleneck, UTXO lookups, will be resolved through a mining algorithm upgrade. Miners will be required to perform rapid access of the UTXO set, incentivizing the creation of hardware optimized for storing and quickly accessing the complete UTXO set. By eliminating these major bottlenecks, NEXA expects its nodes to handle an impressive 100,000 transactions per second directly on layer-1, without relying on advanced software yet to be developed. Such scalability would accommodate the transactional needs of the entire global population, an estimated 8 billion people.

Addressing the issue of price volatility associated with Bitcoin's inelastic supply, NEXA introduces native token systems directly on-chain, fortified by the robust security of its proof-of-work system. This means that various economic models, including stablecoins, commodity-backed assets, NFTs, and innovative asset types yet to be conceived, can be implemented seamlessly on the network. NEXA embraces the concept of a diversified economic ecosystem, empowering the exploration of countless models that cater to the needs of all individuals.

As NEXA paves the way for a decentralized financial future, it offers a distinctive combination of technical and economic solutions. By leveraging UTXO-based blockchain architecture, optimizing mining processes, and introducing a versatile economic model, NEXA stands out among its cryptocurrency counterparts. With a clear roadmap and a commitment to overcoming existing challenges, NEXA emerges as a beacon of hope, providing the foundation for a truly inclusive and transformative

What Is the NEXA Coin?

At the core of the NEXA ecosystem lies the NEXA token, serving as the native token for the blockchain. This versatile cryptocurrency carries multiple utilities, including the payment of transaction fees, participation in staking to secure the network and earn rewards, and access to a range of decentralized applications built on the NEXA blockchain. The NEXA token can also be traded on cryptocurrency exchanges and held as a potential store of value. Its broad range of applications positions the NEXA token as a vital component within the expanding web3 landscape.

With a total supply of 21 trillion NEXA tokens, the initial circulating supply stands at 2.2 trillion, with the remainder released through mining and staking rewards over time. The NEXA token presents an array of opportunities for users, investors, and developers alike. By actively participating in securing the network, miners are incentivized with a block reward of 10 Million NEXA per block. This mechanism ensures the vibrancy and decentralization of the ecosystem. Although the long-term value of the NEXA token may be uncertain, the project stands out with its dedicated team, equipped with extensive experience in the cryptocurrency industry. This solid foundation positions NEXA as an intriguing asset, poised for significant growth in the future.

In summary, NEXA cryptocurrency showcases its ability to overcome scalability challenges through its unique proof-of-work, UTXO Layer-1 blockchain. The NEXA token provides a wide range of utilities, from facilitating transactions and staking to accessing innovative decentralized applications. As NEXA continues to develop and expand, its tokenomics structure supports network growth, fostering a dynamic ecosystem for users and investors alike.

History of NEXA Blockchain

Nexa is a permissionless chain launched by Bitcoin Unlimited where Andrew Stone is the lead developer.

With a global team of skilled developers and entrepreneurs, NEXA is dedicated to constructing a decentralized financial system that ensures access for all. The project has achieved significant milestones, including the introduction of staking rewards, the launch of its first decentralized application (dApp), and plans for integration with the Lightning Network. NEXA's relentless commitment to sustainability and scalability positions it as a promising contender in the cryptocurrency industry, driving its ambition to foster financial inclusion worldwide.

Features of NEXA Blockchain

Global Capacity: NEXA utilizes a unique proof-of-work (PoW) algorithm that allows it to scale to over 10 billion transactions per day, offering global capacity without high fees or transaction delays. By leveraging innovative technology to address bandwidth, storage, and computation speed bottlenecks, NEXA ensures efficient transaction processing.
Native Tokens: NEXA embraces the market demand for tokens by providing native token functionality. Unlike other blockchains that require special smart-contracts or token standards, such as ERC-20, NEXA natively supports tokens. However, if users require advanced features, the platform also offers the full power of smart-contracts.
Native NFTs: NEXA empowers users to create non-fungible tokens (NFTs) effortlessly, enabling a wide range of applications, including digital artwork, asset ownership, tickets, in-game items, and more. NEXA's NFT functionality parallels that of tokens, offering endless possibilities for unique digital assets.
Smart Contracts: NEXA implements an ultra-scalable smart-contract system, referred to as "wise-contracts," which facilitates a wide range of functionalities similar to those available on Ethereum Virtual Machine (EVM) chains. However, NEXA smart contracts are designed to avoid major scaling bottlenecks, ensuring efficient utilization of network resources.
POW Scaling: NEXA's PoW algorithm leverages mining incentives to drive the expansion of hardware resources, enhancing transaction validation speed beyond what is seen on other blockchains. By incentivizing the creation of hardware that accelerates transaction processing, NEXA maximizes scalability.
Instant Transactions: Transactions on the NEXA network are instantly sent across the network, providing immediate transaction confirmation for certain types of transactions. Additionally, NEXA is actively working on introducing a new technology that will enable instant and trustless transactions of any amount, offering users the option to have their payments credited instantly.

NEXA Coin Value

As of June 27, 2023, NEXA Coin (NEXA) is trading at approximately $0.000007 with a market capitalization of around $17 million USD. Factors impacting NEXA's value include:

Demand for NEXA tokens: Increased demand contributes to higher value.
Supply of NEXA tokens: With a capped supply of 21 trillion tokens, rising demand can drive up the token's value.
Technology: NEXA's proof-of-work blockchain offers security and decentralization, making it valuable for decentralized applications.
Experienced team: The NEXA team's expertise inspires investor confidence.

It's essential to be aware of NEXA's volatile nature and conduct thorough research before investing in NEXA or any cryptocurrency.

How to Buy NEXA Coins?

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including NEXA, users can now trade easily and seamlessly. To purchase NEXA coins on CoinEx, follow the steps below.

To begin trading on CoinEx, you must first create an account. CoinEx allows users to deposit or swap without completing KYC, but verification offers more features.
After logging in, deposit funds into your CoinEx account using one of the supported cryptocurrencies or deposit methods supported by the exchange.
After depositing fiat or cryptocurrency, go to the NEXA trading page, choose a trading pair "NEXA/USDT", and specify the amount of NEXA coins to purchase.
To buy NEXA, choose the appropriate trading pair, specify the desired quantity of NEXA coins, and trade the paired token for NEXA.

With these simple and straightforward instructions, you can buy NEXA crypto on CoinEx in a simple manner.

What Is NEXA Blockchain and How to Buy NEXA?