The Nu network is proving to be an interesting ground for cryptocurrency enthusiasts and investors. On one side, you have NuBits, On the other you have NuShares

BLOKHUS, DANMARK, DANMARK, February 13, 2015 /EINPresswire.com/ -- The Nu network is proving to be an interesting ground for cryptocurrency enthusiasts and investors. On the one side, you have NuBits, a very stable digital currency which is always hovering around the US$1 mark, proving to be an interesting concept for many enthusiasts. On the other hand, you have NuShares, a bit of a volatile “other side of the NU medallion”, which is of great interest to investors.

NUSHARES : AN INTRODUCTION

Contrary to what some of our readers might think, you do not need to own any NuShares in order to use NuBits as a currency or asset. However, it could prove to be in your best interest to hold a bit of both assets, as Nushares are generally held by people who want to help, support and maintain the Nu network. Without Nu network, there is no use for NuBits either, so you can see why both of them are different sides of the same medallion.

NuShares can be best described as a source of “Nu network equity” for entrepreneurs, speculators and developers. As a result of that ideology, every NuShareholder is eligible to receive network revenue in the form of a dividend, which is paid out in Peercoin (PPC). Said dividends would be paid out by a NuBits custodian.

However, owning NuShares come with responsibilities as well. Every NuShareholder can cast his/her vote on actions which will be beneficial to the Nu network. In turn, these actions help with the supply and demand for NuBits in order to keep NBT at - or close to - the U$1 value at all times. In order to cast a vote, a NuShareholder needs to own at least 10,000 NRS.

In regards to what eligible NuShareholders can vote on, there are quite a few “categories” : Park Rate votes, Custodian votes and Motion votes (see below). Voting can occur for every block minted on the network, and cast votes will be recorded into the blockchain. By combining these three “categories” of voting, new custodians can be selected; parking interest rates are determined and the network development is regularly being decided upon.

More information about NuShareholder voting can be found here.

As is the case with other digital currencies and assets in the cryptocurrency space, there is only a certain amount of NuShares to go around. Originally, a total of 1 billion NRS had been created, but every year, the total supply grows with 2%. When PoS minting rewards are given to miners, the total NRS supply grows. As of this writing, one block will reward 40 NuShares, and there is a 1 minute block time in place.

However, a motion has passed earlier this year, which not only allows the addition of NuShares custodians, but also the burning of NuBits transactions. The Nu network is focused on transferring the speculative aspect of owning NuBits onto the NuShareholders as much as possible. After all, NuBits is designed to keep a steady value at all times, whereas NuShares are created to do the opposite in order to support the NBT value.

Since this motion has passed in January of 2015, NuShareholders now have the ability to grant new NuShares to custodians who promise to burn a certain number of NuBits. Not only will this reduce the NuBits supply by a fraction, but it also maintains the peg stability in periods when there is a modest decline in interest and demand.

DISTRIBUTING DIVIDENDS

Those of you who have paid close attention will remember that custodians are responsible for issuing dividends (network equity). But why is it paid out in Peercoin, and not in NuBits or even Nushares? The Nu network requires an asset external to their own systems in order to distribute dividends.

Creating NuBits is a measure used primarily to meet increased demand for NBT, yet doing this in a way which automatically prevents the NuBits price from crossing over that US$1 threshold. Besides, issuing new NBT to NuShareholders would never guarantee the new NuBits won’t get dumped on the exchanges. In fact, it could end up destroying everything the Nu network was built for : tightly controlling the supply of available NuBits in order to maintain the pegged price.

In order to receive your dividends, you might want to read up on this guide.

OBTAINING NUSHARES

Similar to NuBits, NuShares can be obtained from several digital currency exchange platforms. We will once again focus our attention on CCEDK, simply because this exchange platform offers a lot of different NuShares trading pairs. In fact, NSR has more trading pairs on CCEDK compared to NBT, but that will change once the NBT/CNY implementation has been completed. At this point in time, users can exchange NuShares against the following currencies :

NuBits

Fiat Currencies (USD/EUR/CNY)

Bitcoin

Peercoin

“At CCEDK, we try our best to be ahead of demand, and have established trading pairs of Nushares in 6 currencies now, NSR/BTC, NSR/PPC, NSR/NBT, NSR/USD, NSR/EUR and finally NSR/CNY,” Ronny Boesing, CEO and owner of CCEDK told CryptoArticles earlier today.

To learn more about NuBits, make sure to check the following sources :

www.nubits.com http://discuss.nubits.com/

https://www.ccedk.com/nsr-btc

About CCEDK APS: www.CCEDK.com is an online Bitcoin exchange based in Denmark, part of the EU. CCEDK offers buy and sell options for digital currencies in a secure environment on the base of 2FA. They offer anonymous trading of some 85+ crypto pairs based on Bitcoin, Litecoin, Peercoin, Nextcoin, NuBits, NuShares, Dogecoin, Bitmark, Blackcoin, Darkcoin, Reddcoin, Fimkrypto and Bitshares as well as a 50+ Fiat pairs with validation. Payment options are SEPA, instant payment with Online Bank Transfer in EUR and GBP, SWIFT in USD, EUR a.m., and Payeer deposits and withdrawals in USD, EUR, RUR and UAH. Instant-Crypto-to-Bitcoin of 13 altcoins also available via CCEDK partner site www.CCPAYT.com


It might also be of interest to read some more articles of JP Buntix regarding CCEDK, among others the one about NuShares, the newest hit in digital assets as investment for the cryto currency speculator:

http://www.cryptoarticles.com/crypto-news/nubits-the-worlds-first-stable-digital-currency

http://www.cryptoarticles.com/crypto-news/nushares-the-digital-asset-for-the-cryptocurrency-speculator

http://www.cryptoarticles.com/crypto-news/exchange-alternate-cryptocurrencies-to-bitcoin-instantly-with-ccpaytcom

http://www.cryptoarticles.com/crypto-news/darkcoin-now-trading-on-ccedk-europes-most-secure-exchange-

http://www.cryptoarticles.com/crypto-news/crypto-20-blackcoin-listing-on-ccedk-exchange-to-boost-fiat-trading-worldwide-with-both-eur-and-usd

http://www.cryptoarticles.com/crypto-news/the-danish-exchange-ccedk-to-continue-progress-by-adding-crypto-20-blackcoin



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