The world is connecting to the future of finance, the world's most trusted all-in-one crypto currency, THE BLOCKCHAIN. Blockchain is a transparent, trustless, publicly accessible ledger of economic transactions, not only financial transactions but also virtual value. These days blockchain is getting to a new heights
INTRODUCING YOU TO PROXIMAX
Blockchain technology presents a next-generation integrated and distributed ledger technology infrastructure platform solution known as PROXIMAX .It is an advanced extension of blockchain. ProximaX is a platform for easy to use application and service development. ProximaX comes with a great feature that instead of just focusing on blockchain
technology, ProximaX introduces set of tools for developers to use it to build applications with the benefits of blockchain technology. the blockchain technology has increased to such a height that to catch a new project, the coming projects need to be too good in itself that they must offer whole package including smart contracts,scalability, SDKs(software development kits), IoT( internet of things) use cases and agnostic asset exchange possibilities. The upcoming projects entering in 2020 have very few thing that they should be capable of.
WHAT PROXIMAX CAN BUILD?
Using ProximaX and its services, one can set up a good social media platform like facebook platform, instagram platform without infringing on privacy.
They can build streaming services like netflix, youtube, etc.
Can promote business services like google sheets, tracking software, wrike etc.
and even almost everything.
THE MODERN BLOCKCHAIN DISASTER
The blunder of modern blockchain technology is here are a plenty of projects who are not offering blockchain as a whole but a part of it. Some may offer great transaction speed, some may focus on storage while others focuses on streaming. This creates an extremely complex environment for developers which make it hard for them to launch applications since there is no cohesion between the various development tools.
Imagine a situation where you need to cook a dish lets say mutton korma? Instead of yogurt, you are adding coconut milk or milk and instead of mutton masala you are adding normal spices and instead of adding corriander you are adding basil or parsley, sounds bad right?
This is exactly the same situation within the space of blockchain development. there is no bond which means that developers have to either stick together components that don't work well, or they can build out their own solutions which is time and cost prohibitive. This high barriers to entry creates difficulty on the path of the mass adoption of blockchain technology.
SOLUION TO THE DISASTER - THE PROXIMAX SIRIUS CHAIN
Whether you want to build the next facebook, youtube, steemit, skype or anything else you can think of, ProximaX is the answer. ProximaX has all the tools you will need. It acts as an assembly of decentralized technologies with blockchain acting as the core to the tokenomics.
The sirius chain is the backbone of ProximaX which holds the ProximaX project. The blockchain is denoted as the 'service unit', these units are smart contracts defined on the sirius chain, which in itself a fork of the highly successful NEM chain called catapult.
The sirius chain also has a proof of greed system which take care of the nodes that they don't get too powerful by charging exorbitant prices for each block they validate which provides check to the ecosystem in terms of equality and utility.
The main role of sirius chain is to build a foundation upon which the core services of ProximaX project runs.
WHAT ARE THE CORE SERVICES OF PROXIMAX?
ProximaX comes with the main services they offer.
*Sirius storage and supercontracts
File storage in ProximaX is done via DFMS ( distributed life management system). distributed file storage is one of the first core services provided by proximax on sirius chain. It the storage process, data is encrypted and split into smaller units and then it is stored across storage nodes throughout the sirius chain.
*Sirius streaming
This core service is offered by two ways. Firstly, data is prerecorded on sirius storage to be streamed to viewers and secondly it is done through live stream which means data is streamed live to viewers.
- Sirius database
The sirius database is unavailable to the public potocol and only offers private services. Applications which require a database may use the sirius database to build hybrid architectures that can access the core services of the public infrastructure.
*Sirius content review
Content review is another public core service which allows content manager to create review processes which are based on consensus throughout the protocol.
ADVANTAGES OF USING PROXIMAX
It is highly scalable
stragging cost savings
highly configurable
highly secure
transparent
100% availability
speed
easy to use
flexible
TOKENOMICS AND TOKEN ECOSYSTEM
To encourage the work done, proximax's tokenomics are based on the following criteria. Firstly, synergy and self organisation of system elements. Secondly, adaptability to different vectors of attack upon the system. And thirdly, growing infrastructure to incorporate plug-ins for additional core services.
The proximax's token ecosystem comes with two layers
First is internal in which has the native token(XPX) powers the blockchain and pays for services and service units which are the units of measure of the services performed over the protocol and custom tokens which are created by users to build DApp (decentralized application) markets throughout the network.
Secondly, external in which there are end user payments which means any method of payment (crypto or flat) is accepted by the application.
THE NATIVE TOKEN: NPX
This is the token that powers the sirius chain of the proximax project, to utilize proximax services users must pay with XPX.
SERVICE UNITS
XPX are traded in for service units via an automated inner exchange. Service units are used to allow the consumer to pay for services, reward the nodes for running services and to measure the capacity of a node for executing a service.
The different types of services units are:
Storage units in which one unit represents 1 GB stored per month.
Streaming units in which one unit represents 1 GB streamed between users.
Supercontract units in which one unit represents one supercontract code executed.
Review units in which one unit represents 1 XPX worth of paid content.
The initial service units rates are as follows:
1 SO = USD 0.004
1 SM = USD 0.02
1 SC = USD 0.000005
1 RW = USD 0.005
CUSTOM TOKENS:MOSAICS
The contracts which are pre-defined on the blockchain protocol are known as Mosaics. These contracts can represent anything the designers wish for them to associate value with currencies,assets, consumption, etc.
Mosaics can be customized with unique properties such as
Divisibility
Duration
Initial supply
Supply mutability
Transferability
AUTOMATED INNER EXCHANGE
The automated inner exchange is on the top of the Sirius chain to exchange the XPX with designated service units. Users can use the inner exchange economy to create new core service and their associated tokens
THE PLATFORM : CONSUMERS AND APPLICATIONS
The platform can be used by consumers through SDKs and REST APIs. Applications can be fully decentralized, semi centralized or completely centalized as seen by the developers via the SDK.
Each application can use proximax core services directly or even build their own platform to provide the core services to its own end users.
APPLICATION ONBOARDING
The application must be onboard by the application owners who create their services on top of the proximax platform.
Down there are some core features which are available to application owners through the sirius chain:
- account- identifiction infrastructure
- namespace- domain representation of a business.
- mosaic- representation of value
- metadata- data associated with pre built plugins.
- supercontracts - contracts that execute via a distributed manner. Supercontracts can be restarted, amended, halted,augmented,discontinued.
SIRIUS CHAIN GOALS
The goals of proxiamax are as follows
1.to process transactions securely,quickly and efficiently
- to encourage the expansion and security of the network
- to scale to the lowest resource cost possible
- to provide transactions types that allows cryptocurrencies to become more than just payment systems.
- to create an agile architecture
- to run on as many devices as possible
and we hope these goals will be accomplished soon :)
SIRIUS CHAIN TOKENOMICS
The mechanism of the sirius chain is PoS ie proof of stake which uses funds and time for the nodes on its network. The more funds a node has and the longer it has been active, the higher its probability of solving the next block and receiving the reward.
Recomended minimum stake= 250,000 XPX
Recommended average stake = 2,500,000 XPX
SDKs have pre configured default fee structures
High transaction fee = recommended is 0.025
Medium transaction fee= recommended is 0.0025
Low traction fee= recommended is 0.00025
In case if a consumer build their own mosaic,they pay a rental fee.
Mosaic rental fee= 10,000 XPX one time payment
Namespace rental fee = 10,000 XPX per year
SIRIUS CHAIN CORE FUNCTIONS
- account
- namespace
3.mosaic - metadata
these four are parallel to application onboarding section - multi level signature- it is used to build multi level agreements.
- cross chain transactions which is transactions between two sirius chains.
- aggregated transactions which combine multiple transactions.
SIRIUS CHAIN CONSENSUS
There are two major vectors of attack against the ProximaX network:
Zero-Fee Attacks in which Validators may validate transactions for free to combat the PoG system and take over the network by forging the most blocks
The solution ProximaX utilized was to ensure that those Validators which take some pre-specified average fee have a higher chance of forging a block
Large-Stake Attacks - This becomes a problem if a Validator with a 51% stake attacks the network, earn the majority of the fees, and begin to reverse transactions.
HERE ARE TWO VIDEOS
Further are some links that may help you to know more
ProximaX Website
ProximaX WhitePaper
ProximaX Use-Cases
ProximaX KYC
ProximaX Suite
ProximaX at a Glance
ProximaX Telegram
ProximaX Medium
ProximaX LinkedIn
ProximaX Facebook
ProximaX GitHub
ProximaX Twitter
ProximaX Instagram
ProximaX Reddit
ProximaX YouTube