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Cryptocurrency News Articles

Nexus Launches 'World's First Open Prover Network' in Beta

Oct 10, 2024 at 07:40 am

The latest in blockchain tech upgrades, funding announcements and deals. For the period of Oct. 10-16.

Nexus Launches 'World's First Open Prover Network' in Beta

Nexus, developer of a zero-knowledge virtual machine (zkVM) written in Rust, announced the launch of the first beta release of the Nexus network, which it claims to be "the world’s first open prover network."

"This is the first distributed zero knowledge VM-based prover network that is accessible to anyone," the team said in a statement. "The network aggregates the collective power of any connected device, from massive GPU farms to your computer or phone. Our goal is to unite the world’s computers into a single supercomputer that will be able to prove all the Internet’s computations, unlocking the Verifiable Internet."

The prover network will reportedly allow anyone to connect their device to the Nexus network and contribute its processing power to the collective effort of proving computations. In return for contributing their device's processing power, users will be rewarded with the Nexus token (NXS), the native utility token of the Nexus network.

"The Nexus network is designed to be highly efficient and scalable," the team added. "It uses a novel consensus algorithm called Proof of Useful Work (PoUW) to ensure that the network is used for productive purposes only. The network is also secured by a group of validators who are responsible for verifying the proofs generated by the provers."

The beta release of the Nexus network is now available for anyone to join. To participate in the network, users will need to download the Nexus software and follow the instructions on the website.

News source:www.coindesk.com

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