Nexa Spaces on X brought together Andrew Stone - the founder of Bitcoin Unlimited and Lead Developer of Nexa, and Endo, Nexa’s Community Manager. They kept it simple tand talked about Nexa highlights from the Australian Crypto Convention (ACC) 2024 and what Nexa is all about, and why you should care about it.
Andrew at the Australian Crypto Convention
Andrew started talking about his trip to Sydney for the ACC. It was his first time at a big, crypto-focused event in Sydney, and he was impressed by the crowd - around 9,000 people showed up.
Nexa had a solid spot right by the entrance, so plenty of people swung by to check them out. A lot of folks hadn’t heard of Nexa before, which Andrew saw as a big opportunity. “We’ve got a lot of people to educate” - he said.
Andrew's talk at the event started a bit slow audience-wise, but by the end, the room was full. The only downside? The noise in the open venue made things tricky, but all in all it went well.
What Is Nexa?
For those new to Nexa, Andrew broke it down simply. It’s a blockchain built to combine the best of Bitcoin and Ethereum but with a focus on being practical for everyday use.
Here’s what makes Nexa tick:
Blocks are mined every two minutes, so transactions confirm faster than Bitcoin’s 10-minute average.
Proof-of-Work security like Bitcoin, Nexa is decentralized and secure, with no shortcuts.
Fair launch coins are released over time in a way that avoids early insiders hoarding them.
Why Nexa Is Different
Andrew made it clear that Nexa is built to solve problems and improve user experience. Here’s how:
* Speed and scaling *
Nexa uses the UTXO model which means transactions can run in parallel instead of one at a time. This makes Nexa faster and able to handle more traffic as it grows.
* No nasty surprises *
Ethereum users can run into issues like MEV (miners sneaking in transactions to make money off yours) or blind signing (accidentally approving sketchy contracts). Nexa avoids all that by keeping things simple and clear - no hidden risks.
* Tokens in Nexa are native and built into the system itself *
They are not added on top with complicated scripts. This means they’re safer, easier to use and don’t rely on trusting someone else’s coding skills.
How Nexa Started
Andrew gave a bit of backstory.
He got into Bitcoin back in 2012 and started working on the code in 2017 during the Bitcoin block-size debates. Those debates led to the creation of Bitcoin Cash, but Andrew and his team wanted to do more - something truly scalable and practical for everyday use. Nexa is the result of that vision.
“My goal with Nexa is to create a cryptocurrency that anyone can use daily. It’s not an easy task, but it’s worth it” -, Andrew said.
A Sneak Peek of Atomic Secret Exchange
Before wrapping up, Andrew dropped a teaser about something called the Atomic Secret Exchange. It’s a new feature Nexa is working on that will let people securely trade secrets and assets without trusting anyone else. The cool part? It’s completely private and trustless. He promised more details in upcoming spaces.
Looking Ahead
This space/ama is just the beginning. We are looking forward to more in the future and next week will have another quest from the Nexa team. Looking forward to it and see you soon!