what is nMinimumChainWork?
It is a number designed to protect new clients from accepting fake blockchains when they initially are syncing, if an attacker managed to segregate them from the network. As the name suggests, it's the minimum amount of total work a chain must have before the client considers it valid. It is updated to a higher number at every release, based on the total work in the blockchain at the time of that release (the hex format is more compact and consistent with other code than say a decimal number)