Preamble
Image CreditSince the birth of the blockchain technology in 2008 by Satoshi; the way we store and manage our money has changed due to the obvious advantages it offers when compared to traditional banking method; especially in key areas such as security and control of funds. However, the technology is yet to gain mainstream adoption due to drawbacks which can be associated to performance issues; some of which have being addressed partly in alternative block chain solutions; such that each options have one or more limitation
However, the major lapse in the blockchain-user interaction stems from the convoluted nature of the technology as this means developers have a swell time building world class app that enhance user interactions via the technology. This creates a high barrier of entry to push mass adoption of the technology. However, if this issues is to be arrested, their must be concerted effort to drive home a balance between transaction Speed, Storage and Streaming
The 3S trillemma ranks as some of the urgent problems which needs to be addressed before blockchain technology can gain wide-spread industry adoption. A subtle approach is being charted by the ProximaX team to achieve the balance of power between this core characteristics.
ProximaX Blockchain
ProximaX is a next-generation integrated and Distributed Ledger Technology ("IaDLT") infrastructure platform pioneered via blockchain technology. In a nutshell, ProximaX combines the best of both worlds in the shape of traditional centralised database solution and blockchain technology to reduce the stress quota that users and developers may likely face when adopting this technology.
Therefore ProximaX Block chain takes the highway approach by building a network that doesn't compromise speed over cost or performance over reliability but rather leverage new concepts to provide better solutions. Subsequent sections also reveal why [ProximaX blockchain] has obvious advantages and features which can allow it to stand the test of time and in effect position blockchain as a daily tool for the service industry via world class application hosting and deployment.
The Solution
As the demand for smart devices, IoT and big data increases, and attention gradually drifting to the automation of many processes from trivial task such as cooking to a more complex stuff such as driving cars. This alteration creates a big gap for new economies to arise. one of the few economies that has being earmarked for a remarkable change lives at the corridor of the service industry. The goal of ProximaX Blockchain is to harness the power of decentralised technologies to create an efficient network to drive the technologies of next generation. To achieve this feat, ProximaX approach is to integrate the best of decentralized infrastructures available via the re-invented Sirius Chain.
The Sirius Chain utilizes Distributed Ledger technology (IaDLT) and API's while providing numerous build tools for developers to build truly world class applications. The platform also empower industries and users to create an economy around their business and increase product interactions in the process, build new customer base and make more sales.
Some of the services which are second nature to the ProximaX blockchain includes file hosting, video streaming, content creation and KYC. Making Proximax blockchain the one-stop solution for developers, content creator and enterprise softwares to name a few.
The Sirius Chain - ProximaX Backbone
This Sirius protocol deploys the Proof of Stake consensus to determine how blocks are created. The Sirius chain - folk of the NEM's Catapult inevitably has faster block production time, four times faster than the conventional NEM blockchain. However, it also utilises the Proof of Greed (PoG) consensus to drive malicious activity to the lowest ebb and maintain a fair economy for all users of the platform.
Features of Sirius Chain
- Account Creation
Sirius Storage
Sirius core functionalities exist beyond data processes and hosting applications but also entails Storage of the data. Utilizes the Distributed File Management System (DFMS). Data are stored in a peer-to-peer fashion all in a bid to discourage centralised practice within the platform and foster decentralization, security and user control for numerous applications hosted on the platform.
Features of the Sirius Storage
Storage preparation ;This allows data to be stored within the blockchain based on terms of contract bewteen acceptors and replicators
Delete; Files can be deleted in request by replicators
Upload; This enable users to upload relevant data onto the Sirius storage
Others features include
Modifying, renaming, copying, directory listing and synchronization.
SuperContracts
With this feature, ProximaX goes one level beyond smart contracts to enact the hung-ho rules of automated transaction free from human interference