Unfolding the Multichain Tapestry: The Ascension of Nexum and the Layer 3 Evolution

DigiFinex
3 min readNov 9, 2023
(via CoinMarketCap)

In the ever-evolving tapestry of blockchain applications, the past month has been particularly remarkable for Nexum, witnessing an astonishing 370% surge in its token price. This leap is not just a market anomaly but a reflection of the token’s intrinsic value tied closely to real-world economic activities, particularly in the shipping and oil industries. Let’s delve into the significance of this surge and position Nexum alongside other Layer 3 applications in the multichain universe.

Real Utility, Real Economy: The Nexum Proposition

At its core, Nexum serves the intricate needs of the shipping and oil sectors through decentralization. Here’s how the NEXM token is fueling this ecosystem:

  • Access to Nexum Data Hub: Token holders gain privileged insights into critical data encompassing shipping logistics and oil supply chains, empowering informed decision-making.
  • Financing for Shipping Invoices: By leveraging the NEXM token, companies can access funds to streamline the financial undertakings associated with maritime operations.
  • Facilitating Secure, Instantaneous Global Payments: The utilization of NEXM facilitates secure and real-time transactions across borders, in multiple currencies, thus simplifying international trade in the process.

Polkadot and Cosmos: Parallels in the Multichain Universe

(via CoinMarketCap)

In the same Layer 3 multichain application layer, projects like Polkadot and Cosmos have also made headlines with appreciable gains of 33% and 28%, respectively. They exemplify the potential of the Layer 3 ecosystem, fostering a seamless and interconnected blockchain environment.

Understanding “Layer 3” in Blockchain: Protocols and Multichain Applications

  • Layer 3 Protocol: This usually refers to different protocol layers within a blockchain, where Layer 1 is the foundational layer of the blockchain itself, Layer 2 is protocols built on top of it, and Layer 3 could be protocols implemented on Layer 2. Layer 3 protocols may provide additional functionality, scalability, or collaborative features.
  • Multichain Application Layer (Layer 3): This typically refers to different application layers within blockchain technology. The Layer 3 application layer may be built across multiple blockchains, aiming to achieve interoperability, data sharing, or industry-specific applications between different blockchains. It can involve multichain technologies to enable collaboration between different blockchains.

In essence, “Layer 3 Protocol” emphasizes different layers within the blockchain, while “Multichain Application Layer (Layer 3)” emphasizes multichain applications at the application layer.

What Does Nexum’s Surge Imply for the Multichain Ecosystem?

The significant appreciation in Nexum’s token value reflects market confidence in tokens backed by solid, real-world use cases. The growth within Layer 3 applications like Nexum, Polkadot, and Cosmos indicates a shift towards a more nuanced blockchain ecosystem where utility, rather than mere speculation, drives value.

Looking Forward: The Multichain Future

The surge of Nexum’s NEXM token underscores a broader industry trend towards functional, cross-chain applications that serve as the backbone for decentralized services in various sectors. The multichain future is not just on the horizon; it’s here, with Layer 3 applications leading the charge in making blockchain technology a foundational element of the global economic infrastructure. The rise in token value is more than numerical; it signifies the growing acceptance and integration of blockchain into mainstream industries.

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