ProximaX is a next-generation network protocol that offers an ecosystem that combines the power of blockchain (with advanced consensus methods, totally green, Proof-of-Stake, PoS, and Proof-of-Greed, PoG), decentralized storage (DFMS/IPFS), peer-to-peer (p2p) streaming, distributed database and more.
The interesting thing about Proximax is the fact that it offers all of the above-mentioned services on one front, which is quite remarkable considering what currently obtains in the blockchain industry.
And the gateway of possibilities that Proximax's core services opens us to are numerous, but hold that thought for a while. Let's quickly explore the direct benefits of this revolutionary infrastructure.
Due to key innovations in core blockchain concepts,ProximaX via its Sirius chain enabled blockchain is equipped to host unprecedented number of applications for different economies. The Sirius chain which act as the backbone for the ProximaX framework has numerous build tools including smart contracts, a blockchain enabled token called service unit and a POG(Proof of Greed) consensus mechanism to be able to run core services on ProximaX network.
Streaming unit
In this, the data is recorded live, transmitted and distributed to a number of viewers instantly. So from a live source, the data fans out to a number of distribution points in an autonomous way. The broadcasting application can be built and developed on the top of ProximaX platform and leverage this live streaming feature to broadcast live in a decentralized and cost-effective way. Both live audio and video streaming can be done. Both one-one and one-many live streaming can be done using Sirius live streaming unit.
In this, the data is pre-recorded, stored in the storage unit and then streamed across a number of viewers using the streaming unit. The content of streaming can be downloaded by both the content owner as well as consumers. Youtube, Dtube kind of applications can be made using this "storage streaming". But the advantage of using storage streaming is that it is decentralized, autonomous and cost-effective for both the content creator and the consumer.
Therefore, with this tool in place, developers have the obvious advantage of building a fully fledged application capable of handling large scale interactions such as live streaming(end to end user interaction) and storage streaming (view previous interactions)
One-to-many live streaming can also be done in a similar way. However, it must be noted that owing to bandwidth issues it may not practically be possible for a stream landing node to broadcast to multiple stream receiver nodes. Hence a Stream distributor node is introduced to cater to the heavy traffic and streaming to multiple stream receivers. The Stream distributor node interacts with the Stream landing node and the Stream receivers in a similar manner as that of one-to-one streaming.
ProximaX's Forte
ProximaX Forensics- Some researches and evidences are important and needs extra security, in such cases ProximaX Forensics comes to rescue. as investigators and scientists to access digital evidence easily, quickly and also store digital evidence securely.
ProximaX Identity- The security is such a necessity which is tackled as providing "Identity is a highly secure verification system for personal information that can be used as a unified source of data across public and private sectors."
ProximaX KYC- Now, the data can easily be stored with maximum assured security. with advanced permission-based access to identity records, enabling greater control and ownership over personal data. Not only individual but industry based kyc is also supported which is very reliable and secure. Here's link to know more about it.
ProximaX FileIt- Basically sharing and storing files across multiple nodes on the ProximaX Sirius platform is what it is about. this is innovative client-based file sharing app.
ProximaX Suite- Now forget about centralized suits in workspace like Gsuite etc. here's a decentralized suite which will provide maximum security from data theft and will provide a big virtual workspace for offices. Here's the link, in order to grasp more about it.
ProximaX Notes- Basically a very secure i.e. encrypted note taking tool with embedded images. which is quite often required in offices, and the important notes can be saved securely is what it aims to.
Process of execution of a Supercontract
-The application developers use SDKs to call the supercontract.
-The announcement triggers the execution of the supercontract.
-The execution output is recorded in Sirius chain.
-A new supercontract is uploaded in Sirius storage.
-A hash is generated.
-Using multi-signature transactions, the consensus is reached between the pre-established parties & based on the consensus the supercontract is approved.
Security
The validator nodes are selected based on the amount of XPX staked by the node and the age of the node. The minimum stake required to become eligible for selection is 250,000 XPX. However, the recommended stake is 2,500,000 XPX.
Once satisfying the eligibility criteria, the nodes are run through validator software which checks the account history of the node, amount of XPX staked and the age of the node. A reputation is given to the node & based on the reputation it is selected as validator node. If selected, the node becomes a validator node and start processing transactions. The validator nodes receive a share of block rewards.
So Sirius uses a kind of hybrid consensus which is a combination of PoS and PoG. The generic disadvantage of PoS is nullified by PoG. So this mechanism of consensus makes the network scalable, secure and resource efficient. To become a platform of multiple dApps and to ensure the smooth performance of the dApp ecosystem it is essential to have a liner and scalable consensus, therefore PoS is chosen over PoW. The selection of PoS of Sirius chain is derived from the NXT’s PoS. The block generation time is Sirius is reduced to 15 seconds as against 60 seconds of NXT.
PARTNERS
For More Information
https://www.proximax.io/
https://bit.ly/2koqP5l