NIX Unveils Prometheus, First Major On-chain Upgrade for NIX Bridge
The NIX team has shared some insights on its upcoming Prometheus upgrade. The upgrade is expected to go live within the next two months and has been dubbed “the most substantial and exciting upgrade yet.”
Prometheus will feature a NIX Chain Swap, a Bridge and Asset Layer, Deterministic Masternodes, On-chain Governance and Development Fund Burn, ChainLock and Reduced Block Times, as well as improved supply and emission rate.
During the NIX Chain swap, the NIX network will migrate to a new chain. The swap will enable optimization and shrinking of the size of the previous chain. Meanwhile, Prometheus also features a Bridge architecture that will allow the transfer of tokenized assets in and out from the Ethereum network. According to NIX, the bridge along with other upgrades will become the cornerstone for its next update – Pandora. Pandora will introduce privacy to the network.
To improve throughput, Prometheus is reducing block time from 2 minutes to 1 minute. When combined with ChainLocks, the NIX network is expected to become faster, more stable, and secure.
As earlier stated, once Prometheus goes live, the next major milestone for NIX will be working on NIX 4.0 Pandora.