INTRODUCTION
Before now, the use of blockchain technology has been sporadic, leading to an uninspiring, idea sapping environment for DApp developers. Blockchain application looks endless yet diversified ideas and inability to develop a blockchain environment capable of encompassing possible applications of the technology making mainstream adoption lagging.
With recent projects in the blockchain world only capable of offering just a fraction of the efficiency of blockchain technology, Projects focusing on decentralized storage(both cold and hot storage) while foregoing Speed, Projects focusing on Speed and letting go of Security, blockchain technology have also been used in the development of social media platforms like steemit, economic hub projects, Medical projects and many more.
To be largely talked, blockchain has been adopted to a wide ranSecurity
ctions, but the inability of any project to come up with a smooth and efficient way of adapting, or so to say a solution to effectively integrate many applications of blockchain technology into a one-stop shop is alarming. ProximaX has excel in this regard, bringing many if not all feasible applications of blockchain technology under one umbrella of its state of the art technology.
To be the best, you have to out-do the rest. While many blockchain projects have been so distinctive and specific in ability, ProximaX have exploited the possibility of been all doing!.. The idea is so simple, with ProximaX, you just can build anything! develop anything! , good news for App developers? Yes!.
What is ProximaX?
Also known as ProximaX Sirius, it is a next-generation Integrated and Distributed Ledger Technology (“IaDLT”) development platform that leverages the power and efficiency of blockchain technology. ProximaX is supported by its ability to execute various core services like streaming, supercontracts, storage, content review. Have you ever wish to develop your own decentralized Facebook App?, YouTube? Twitter? Commercial hubs App like Amazon? Think anything because ProximaX allow you build just everything!.
ProximaX unlike other blockchain projects, not solely focused on just blockchain project, instead provides the technologies capability and tools needed for DApps development globally whilst leveraging the benefit of blockchain. With ProximaX you can build just anything and everything making it the indomitable blockchain project. ProximaX potocol looks to provide DApp developers with the platform that is cost efficient and fault tolerant. ProximaX is most notably characterized by the impressive future plug-ins ability that allows for more core services addition to the platform to further stake the claim of all rounder action blockchain powered project.
CORE SERVICES
- blockchain;
- storage;
- streaming (storage streaming and live streaming);
- supercontracts; and
- content review.
ADVANTAGES OF PROXIMAX OVER OTHER BLOCKCHAIN INFRASTRUCTURES
•Converging applications platform
•Proof of Greed(PoG) complimenting the
Proof of stake consensus mechanism
•Scalability
•Fault tolerance
•High transaction throughput
•Ability to accept future plug-ins
•Easy adaptability to various devices
•Security leveraging its distributed
architecture
•Transparency using time stamped and data
encryption
•Ability to cross-chain
•Availabilty of API and SDK in a Multi
programming languages
Sirius Chain Core Services Benefits.
Low cost
Friendly environment
Easy Usability
Security
ProximaX Fault Tolerance
The fault tolerance ability of ProximaX protocol allows the system to keep functioning even when part of it is down as central entity has been removed instead connecting all nodes in a mesh like manner.
THE BACKBONE: Sirius Chain
ProximaX ecosystem super efficiency and well tailored functioning core services owe much to its more traditional chain service also know as "Sirius chain". While ProximaX is powered by blockchain that is responsible for the open distributed ledger and security, the Sirius chain is responsible for the core services such as streaming, content review, ssupercontracts, and storage.
In a more traditional world, Sirius chain can be refer to as 'contract' which is a tool that can be used to develop token for businesses on ProximaX to represent real value, like the development of a native token for an online store which can be used for real purchase or tokenization of Services like getting rewarded for work done e.g getting rewarded for upvote on content review.
Powered by the more efficient Proof-of-State (PoS)algorithm consensus mechanism and being coined from the ever impressive NEM's blockchaain called 'Catapault' that process a considerable larger amount of transactions per second giving ProximaX the speed and Scalabilty needed to excel. The Proof of stake is energy efficient, high throughput and easily can be incentivize.
The other impressive algorithm on ProximaX is the Proof of Greed(PoG), a unique feature that helps regulate fee for nodes acquisition giving high probability to individual with low fee claiming a node. This fee regulatory feature is absent in other platforms.
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The ProximaX Sirius Ecosystem
Sirius Storage
Blessed richly by the inherent security of blockchain technology, ProximaX saves data using DFMS (Distributed File Storage System). These data are encrypted, then fractioned and saved in various nodes across the platform making ProximaX fault tolerance.
Sirius storage is also used for the storage of codes belonging to supercontracts and contains the virtual machine to execute this codes.
Sirius Supercontracts
Supercontracts are self executing codes that can be used for various digital business agreement conditions.
Sirius Streaming
With Sirius streaming video data can be saved on the platform before being streamed to viewers and is also capable of executive live video streaming.
Sirius Content Review
Just like on steemit where users can upvote and downvote content, Sirius content allow content creator to regulate content reviews.
Sirius Database
Provides a private core service to users.
Advantages of Sirius Chain
-Energy and cost efficient as it uses the proof of stake algorithm.
-Can be easily incentivized which makes it appealing to existing and intending users.
-Scalability
-Adaptable to wide range of devices from mobile phones to desktops
-Possible addition of future core services
-Conducive environment with state of art technological infrastructure for the development of advanced applications.
-Multi programming languages SDK and API feature
Sirius Chain Core Functions
Account: An Account needs to be opened before a developer can develop a DApp
Namespace: Developed application on Sirius chain must have their own namespace which act as a domain representation of the DApp.
Metadata: A form of data associated with pre-built core services for applications that needs a third-party services via URLs (unified resource locations).
Mosaic: Mosaic is a form of a native contract on ProximaX that allows developers to create a native token for their developed Apps and services on the platform. Mosaic may also be in the form of vote, reward point or signature.
Multi-level signature:for the development of multi level agreements.
Cross-Chain Transactions: Responsible for the "atomic swap"; a transaction between 2 sirius chains.
Aggregated Transactions.
PLATFORM CONSUMERS and APPLICATIONS
The sweet truth is that all aspect of ProximaX is consumable, backed by the fact ProximaX can execute both storage and streaming functions. Consumers can access core services on ProximaX via the accessible application programming interface (API), and the software development kits(SDK) technological features which are both multi-language.
API and SDK allow developers to write program and develop software for such programs.
The storage and Database ability of ProximaX allows the development of social media apps similar in functios to:
Facebook
Twitter
Instagram
Commercial DApps like Amazon, Gaming Apps etc.
And the streaming ability can be leveraged in the development of video streaming apps like :
YouTube
Dtube
Netflix
Services such as KYC processes can also leverage the storage ability.
The supercontracts allows for the development of legal and notary services.
The chat below shows useful applications of ProximaX Sirius chain but not limited to these.
DEVELOPING APPs
An Account needs to be opened before a developer can develop a App.
Developed application on Sirius chain must have their own namespace which act as a domain representation of the App. Namespace rental fee stood at 10,000 XPX per annum.
Each App must have its own Mosaic which can be a token, vote, signature or reward point. Mosaic creation attracts a one-time rental fee of 10,000XPX.
Metadata: A form of data associated with pre-built core services for applications that needs a third-party services via URLs(unified resource locations).
Supercontracts: pre-agreed consensus mechanism that execute digital mutual agreement or a contract. A developer can develop a new supercontract for his App or make use of existing ProximaX ssupercontracts. In case of future occurences that might sabotage the integrity of the blockchain protocol, Supercontracts can be halted, augmented, restarted, amended or discontinued.
Tokenomics
As with every blockchain project and all business, incentiveness is necessary as it helps appreciate workdone and ensure continuous of project by appealing to users and staffs-like.
Token Ecosystem
The ProximaX token ecosystem is made up of both the internal and external tokens.
The internal tokens consist of the;
Platform native token (XPX) :It powers the platform It's to be used for any service payment and for incentives.
Service unit: These is used to measure the provision of platform services to consumers.
Custom token: these are tokens created distinctively to power individual DApps created on the platform.
The external token is limited to external finances injected into the platform in form of fiat or other crypto currencies.
NATIVE TOKEN(XPX)
XPX is the native token of the ProximaX ecosystem to power all forms of payment. The number of circulating XPX is determined by the Sirius chain.
Uses of XPX
Incentiveness
Allows users access to core services
Purchase of service unit
SERVICE UNITS
A service unit acts like a steem power that enables users on steemit to have varying degree of access to services. Steem(steemit native token) can be exchange for steam power in a process called power up via an internal automated exchange, same thing can be said of Service Units on ProximaX which can also be purchase using XPX via an internal automated exchange.
The amount of Service units a user holds predetermines the quantity of services the user can access.
Uses of Service Units
As a reward for nodes for running services
Allow consumer pay for services
Measure the capacity of a node for executing service.
Types of Service Units
Storage units (SO) - One unit represents 1GB stored per month
Streaming units (SM) - One unit represents 1GB streamed between users
Supercontract units (SC) - One unit represents one supercontract code executed
Review units (RW) - One unit represents 1 XPX worth of paid content
Service unit rates(subject to change)
1 SO = USD 0.004
1 SM = USD 0.02
1 SC = USD 0.000005
1 RW = USD 0.005
CUSTOM TOKEN(MOSAIC)
Mosaic is a form of a native contract on ProximaX that allows developers to create a native token for their developed Apps and services on the platform. Mosaic may also be in the form of vote, reward point or signature.
As a developer, you are able to create a unique token for your App to incentivize it, making it appealing to consumers.
IN-BUILT AUTOMATED EXCHANGE
This is use for the internal exchange of tokens most notably, the exchange of XPX for Service Unit.
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Use Case 1
A multiplayer game developed on an Euthereum network is witnessing a surge in number of players due to the game incentiveness benefit that allows players to buy virtual goods to enhance gaming experience and also trade earned tokens for fiat, is witnessing a lagging due to the inability of the Euthereum blockchaing to handle the new high number of players. New idea is needed, new platform with the desired scalability and speed to enhance gaming experience is needed and ProximaX provides both. The Game was moved to ProximaX platform with improved gaming experience recorded.
Use Case 2
SOLAT Tech is a technological firm that aims to deliver security to homes and companies leveraging different advancements in the technology world such as the Internet of Things (IoT). With a growing customer base which in returns require a larger storage facility for data, with security also in mind, the firm resolve to leveraging the inherent security of blockchain technology.
With blockchain security is assured, but the bottleneck of scalability and processing speed remains a concern until ProximaX was brought to the table. Equipped with the fault tolerance for data storage, Speed and tech tools, Sirius chain was the answer.
Use Case 3
TedX Medical center is a privately own medical facility that digitally store patients medical records and its in need of a far more secure cloud storage facility for patients medical history and also to develop a medical apps that allow patients book appointment with a doctor, pay bills and other relevant hospital functions.
ProximaX provides the perfect solution to these as discovered by Mr John Crow(Head of marketing and logistics), as it provides a one-stop shop for both the storage services and the hospital App development requirements.
CONCLUSION
Where others failed ProximaX excel. They say, to be the best, you do something different from the rest. The ability of ProximaX to integrate various applications of the blockchain technology into a fuctuntionality on a single platform(ProximaX) is a great asset to the blockchain world and could trigger the next wave for the mainstream adoption of blockchain technology with the ease at which services and Apps can be built on its platform. With ProximaX, you can build anything if not everything.
For more Information and Resources
@tonyryce95 I want to appreciate you on your efforts for this contest. Best of luck!