Introduction
The invention of the blockchain translated into solutions to many of the world’s major challenges. And because of the problems it solved, many people adopted it, while others have been battling between following the past or moving with the future. As established in 2008, the blockchain is still very much in its toddler stage and while this may not entirely equate the level of impact it has made, this, however, is completely true with the grounds it will break soon. Just like the ubiquitous microorganism, the blockchain has applications in virtually every sector in the world. This places it high in the disruptive technological ranks.
Some of the areas where the blockchain has wide applications including but not limited to: education, manufacturing, finance, business, aviation, insurance, medicine, transportation, DevOps, and governance. Worthy of mention is the innovation blockchain has brought to economics. Blockchain technology focuses on transparency, security, and immutability and has been the foundation for the existence and development of cryptocurrencies. Each blockchain technology while offering value also rewards users which is however different from what is seen in other social media sites like facebook, twitter, Instagram, etc. decentralization also brings about an even distribution of relevance and inclusiveness, where everyone has a say in the affairs of the technology, which in contrast does not happen in centralized systems.
Evolution has progressed significantly in the blockchain space, with DevOps, smart contracts, decentralized applications, tokens, and blockchain business models. With several companies being at the forefront of these evolutions, there is a need to have sustained and cohesive tools to effectively cater for the growing chain. Now, to stay relevant in the blockchain world, great expertise and dexterity is required by companies and brands. The market already is a highly competitive and only the smart stay will ahead of the competition. All through the few years the blockchain has been in existence, some projects offer a specialized feature while lagging in others. This is particularly evident in ‘DevOps’ where there are no complete tools for developers to effectively develop and deploy applications. There are wide variety of tools that can facilitate the work and performance of people who work hard every day to achieve progress. This offer an instrument or platform with which both the developer and the user who use it will benefit from each other. The extensive work done by developers requires these tools (development) that will make for efficient and faster productivity. And to offer high-end services to customers, the place of a cohesive and all-sufficient tools development is highly significant.
Problems of the Recent Blockchain World and Development
Currently, there are myriads of opportunities for development on the blockchain space. Most of the blockchain projects often specialize in a particular area of interest. While specialty is of great importance, there is a need for cohesion. The convoluted environment created is proving herculean to application development, deployment, and use. The sad picture comes into play when developers scramble different localized tools to build projects and with the scattered nature of these tools, mistakes, and inefficiency often abound. Some offer cloud computing, decentralization, while others offer scalability. It has become very difficult to find a platform capable of offering these tasks in the same interface, many times the user has to manage it and work with what he has, which resultantly brings great inefficient and no rewards. Below are common problems faced by blockchain projects, these features are highly significant for incorporation.
Effective Scalability
Numerous blockchain projects have an outstanding algorithm, good decentralization, and storage, but the time taken to process transactions is relatively slow or depreciation when processing numerous transactions, and this leaves a dent on the usefulness of such projects. If a project cannot process many transactions at the same time, then there is a disconnect in the infrastructure build. Many developers can get frustrated at the sight of huge transactions being delayed and ultimately not pulling through. This can just be as bad and sad, which over time will reduce patronization and use and overall confusion for entrant users.
Obsolete Tools and Implementation difficulty
For progress to exist, there must be a constant change in solutions and tools. Innovation is key and necessary. Dynamism is expedient and this lacking in most technologies that they should be replaced with more recent ones for progress to continue. Others come down with no implementation of plans. Apps are being built but there is no wide coverage of its use case. An implementation which enhances application is highly required and it would be most pleasing if startups can incorporate this into their infrastructural build.
Security
This is one area that has been a problem in the blockchain space, some technologies have good working principle but are often flawed by attacks. These attacks in recent times have seen the loss of billions of assets. For any company to be successful in the future, security must be top-notch. If we are ever going to achieve an increased massive adoption, then security must be better than centralized projects and not only that, it must be incorporated into every blockchain project to achieve the needed cohesion.
No User support or Customer Protection
Most Blockchain projects do not offer safety or protection to its users. The atmosphere can now be likened to a jungle zone where only the fit survives. The truth is that if a project is willing to show how much they care, the developers and users will be more willing to partner with them. Sadly, this is not the case as more beautiful projects do not have any plan to incorporate or care for their users and yes, your guess is simply the same with mine – no use and cohesion.
Introducing the Solution - ProximAx
In respect to the above issues, there is need for an all-encompassing blockchain technology that would not only solve the above issues, but also offer a universal solution to blockchain issues, providing required use cases. I introduce to you the solution – ProximAx
ProximAx is characteristically a next-generation Integrated and Distributed Ledger Technology (“IaDLT”) that is built on the blockchain technology. It is utility-rich platform that is used for the development of a wide range of applications and services. The platform has an amazing collection of plug-ins that offer various advanced blockchain services and needs such as: streaming, storage, and supercontracts. The blockchain is known as Sirius chain, with cutting edge technologies such as standardized frameworks, security, asset exchange and a common consensus protocol. The Sirius blockchain can be regarded as a hub for development as it has all the tools needed to develop applications that are of industry based standards. All the toolkits are embedded in the framework and this makes Devops easy and efficient.
The ProximAx Sirius platform is developed as a form of evolution of what has been a deficient blockchain industry. The architechteural build is such a way that the current challenges of users and devlopers are solved. It has several nodes that provide different services, with each embedded in an accessible application programming interface (“API”) through a set of software development kits (“SDKs”) and HTTP/S endpoints. Even with little experience or knowledge, developers are able to develop their own decentralized apps (DApps) and solutions for general use. The various use cases which are seemingly offered by The ProximAx Sirius are; IoT devices, health, trade finance, robotics, legal, notary and traceability services. This is mind blowing, giving that all these are compartmentalized in a single blockchain protocol – Sirius Chain.
The Blockchain – Sirius Chain
The Sirius Chain provides the backbone for the storage and recording of data as well as events that occur within. Contracts within the ecosystem are also coded and executed here. The SiriusChain is the main trust of the ProximAx blockchain as it houses the environment, tools and every other component needed to work. One beautiful thing about the Sirius chain is that it is highly secured using the ever reliable cryptography. The Sirius chain makes it possible for data to be structured in relation to each business use case. This is done through the use of smart contracts, where each service has a written contract it follows.
In Siriuschain, every core service layer requires a level of representation. These representations are often aligned with their intentions, and through this means, there exists “service units”. Service units are able to create tokens that are ultimately linked to a node’s reputation, in such a way that performance and security is enhanced. Sirius uses a modified consensus by combining Proof of stake (PoS) and Proof of Greed (PoG) together to ensure scalability ad security both. These algorithms combine to stop nodes from handling more than the allocated workload and thereafter ensures stability. It is also the best fit for the platform as it is economically efficient, and has minimal hardware resource requirements. Also, Sirius chain is based on the latest version of NEN blockchain, known as ‘Catapult’. This also has its own features that combines with the localized features of Sirius, providing an excellent development and construction service.
The following are functions of the Sirius chain that offer all the advanced features in the Sirius blockchain.
Advanced functions of the Sirius chain
Account
Just like a normal account, users can create an account on the Sirius blockchain. This account houses a user’s details and can also be used to store digital assets. It consists of a public and private key. The private key is the strongest of the keys and as such is secured.
Namespaces
This is a unique feature and provides a place for assets and your business. Think of it like a domain name, that is unique and specific to a user. The name space is written immutably on the blockchain, when a user creates it and can be used for account identification.
Mosaics
Mosaics are fixed assets that are stored on the Sirius blockchain. It impacts flexibility and uniqueness to the blockchain and can represent various things such as token, shares, bonds and all forms of digital assets. It has features like transferability and divisibility and can be used for control.
Metadata
Features like namespaces, accounts and other data stored on the ProximAx Sirius blockchain are immutable. This is an excellent feature of the blockchain. In Sirius blockchain, a data attachment is created in relation to already defined objects. This process brings about flexibility and can result in the modification of data.
Multilevel Multisignature
This feature is used in situations where an account is owned by more than one person. A multisignature is initiated and used to create a multilevel agreement such that ownership is distributed among participants. With this feature, teams can collectively manage an account created by them.
Cross-chain Transactions
Cross-chain transactions are transactions across two Sirius blockchain. This is a wonderful feature and can help users transfer assets easily though they might be on different chains. It is also called ‘Atomic swap’.
Aggregate Transactions
Just as the name imply, the agreement transaction merges transactions into one batch and allows swaps to be made. In a situation where an aggrearte transaction has been signed, all transactions within can be done simultaneously.
Sirius Storage
Data is constantly used in the Sirius blockchain and as such requires storage. Storage is a core feature of the ProximAx technology. The Sirius blockchain can store any type of data (be it text, video or audio or any structured or unstructured data). The data stored is distributed across nodes and this removes every centralized or intermediary that may tamper with user’s data.
Storage can be initiated by any user after fulfilling some contract obligations, after then, it can now an agreement with the nodes and utilize the storage service. The ProximAx platform utilizes Distributed File Management System (“DFMS”).
There are nodes that are involved in this process, they include:
- Acceptors: Nodes that provide file propagation for Replicators and file delivery for end consumers.
- Replicators: Nodes that replicate files and store replicated content.
- Storage Verifiers: Nodes that identify Replicators that no longer store the required files or have gone offline, and if identified, initiate further replications of those files. A network contributor can choose to be any one, two, or all three of the above node actors. Source
Functions of the Sirius Storage
Storage preparation
The main function preparing the device for distributed storage service. The first stage entails consumer request and a process is established that ensures that every participant in thye storage process is notified.
Upload
The process of upload starts with a user uploading a file through the chain, which notifies the node (acceptor) and then the process is trasnsmitted to the replicator and finally verification by the storage verifiers.
Delete
Even after an upload, alterations by way of deletion can be initiated. The Sirius Chain has a network of instructions that are met before this is done. The Replicators that are usually the players in this process.
Modify
This allows a user make changes to either file directory or file content. There are two commands here – Delete and Upload
Rename
Names of file can be changed using the rename option. Since the name is not part of the options, this process is only being done at the distributed hash table (“DHT”) level
Copy
Just like the names sound, files can be duplicated or transferred from one location to another through the use of this command
Directory
This provides the list of several files inside directories. It can essentially be used by Replicators to evaluate if there is a need to join the contract as a Replicator to extend the storage capacity.
Synchronize
This is used to initiate synchronization process between replicators that are implicated in a storage contract.
Potential Use Case of the Sirius Storage
With ever increasing need to store information and data, there is a potential of utilizing the Sirius storage feature. Data can be stored on a distributed network and be used sometime in the future when needed.
Universities in Africa often have stores where students data are stored. These stores usually are attacked by fire and animals, resulting in loss of data and information. But with the Sirius Storage, these information can be stored and kept for long.
Sirius Streaming
The streaming in Sirius blockchain is synonymous to the ones that can be seen on YouTube and other video streaming sites. This feature is enabled by the distributed orotocol on the chain,
Firstly, data is recorded and then stored using as storage and then later being broadcasted. During a streaming session, reward transactions via the blockchain are avoided because it could cause unpredictable delays that would detriment streaming performance. Instead, the solution uses time tags to determine the reputation based on the node’s bandwidth. Source
Also during live streaming, the data is recorded live and broadcasting is also done simultaneously.
Potential Use Case of Sirius Streaming
In learning, there comes sometime when an individual could be down with sickness and as a result might not attend classes. Through live streaming, one can connect to live classes and not miss important lectures.
Also, there are recorded songs that take time before they get online. Fans get tired waiting for their favorite musicians to release songs for occasions or particular period of time. And in some cases, the artist might be helpless as they do not have tools to make this possible. But through Sirius streaming, songs could be airdropped to fans.
Sirius Database
The database uses BigchainDB (“IPDB”) that stacks MongoDB for a distributed database. Like blockchain, it also runs in a decentralized manner and maintains MongoDB as its ledger to store the chain of records identified by a hash. IPBD is powered by a traditional distributed database in MongoDB which implicitly has the characteristic of scale (throughput, capacity, and low latency) and is querriable. It is padded and engineered to have blockchain characteristics such as decentralization, immutability, data assets, and digitized contractsSource
Potential Use Case of Sirius Database.
Database can be very large and inefficient if they are deployed on substandard sites. The Sirius database has been designed to contain and process huge amount of data with any depletion or deterioration.
Also, databases often experience hacks and theft. The Sirius blockchain has an efficient security that can prevent every form of attack which makes it highly effective.
SIRIUS CONTENT REVIEW
Content review allows content managers to create review processes (based on consensus) throughout the protocol. Content review is another public core service.
Potential Use Case of the Sirius Content Review.
The content review industry has been plagued with several substandard contents. Most of them are plagiarized or tailored.
But with the core algorithm and architecture of the Sirius Blockchain. Contents can always be reviewed and in cases, where they lack authenticity are filtered out for the more authentic ones.
Advantages of ProximAx
Saves Cost
There is little or no knowledge required to create applications on the ProximAx platform. There are already built off-chain tools that makes for seamlessly app development. This resultantly saves cost
Proven Scalability
Scalability has been a serious problem in most blockchain technologies, but on ProximAx, huge number of users and transactions can work together without an deterioration of service. It makes it easy for users to stream data online.
Enhanced Security
The presence of a distribute architecture makes it very difficult, if not impossible for malicious attacks. The opposite is seen in other blockchain technologies, where it is very easy for attacks to pull through.
Very Transparent
Transparency is the watchword of ProximAx platform. Every data stored on the chain is encrypted and time-stamped by default, which ensures complete security and an audit trail, in addition to being immutable.
Great Speed
The ProximAx is very fast and as such provides a high data transaction throughput.
Easy-to-Use and Flexible
There is a wide array of languages one can choose from and this makes it really easy for integration to occur and also, networks can be cross-chained
Why Select Sirius Over Other Blockchain Technologies
Most blockchain technologies do not have a utility-rich framework. This makes it hard to find an all-encompassing sustem with all tools needed for application development. However, this is no so in ProximaX’s blockchain.
The framework is highly scalable, innovative and efficient and like an upgrade, it is incorporated into ‘Catapult’ blockchain. This has resulted even in a more standard and accommodating chain that can handle load and an extensive application development as well as deployment
Also, it is built on the backbone of two algorithms known as Proof of Stake (PoS) and Proof of Greed (PoG)
Proof of Stake (PoS)
The proof of stake is an amazing consensus algorithm that impacts great efficiency to the blockchain. PoS is more economically efficient and has better performance than Proof of Work (“PoW”), making it a more attractive network for participants.
It is also relatively easier to scale up, which is vital for the continued expansion of ProximaX Sirius’ core services.
Proof of Greed (PoG)
The proof of greed considers the stake, age and size of fee requested for transaction in the blockchain. It makes for an even distribution of tasks among nodes and ensures that blocks are created efficiently.
It was also established as a mechanism with the purpose of guaranteeing safety and reliability in the platform, avoiding and guaranteeing that no node can become too greedy.
The Native Token (XPX)
This (XPX) is the token of Proximax Ecosystem’s. The services that are rendered by Proximax are tied to the blockchain protocol which will need XPX tokens to be accessed.
Use Case: Efficient Storage and Security.
Mr Kingsley is the owner of an Insurance company that is over 25 years. They have always been faced with loss and security of data. He was tired of always lamenting and feeling bad.
While he has tried a blockchain technology, they never gave him results and again, he lost data of clients and customers.
Some times, it comes down to hacks and theft of customer's data. But with Sirius Blockchain, Mr Kingsley's company can now save their data as It has an excellent cryptography that makes security worthwhile.
Conclusion
There is however no doubt about the uniqueness of this project. It is all encompassing and would ultimately revolutionize what is seen in the blockchain industry.
Developers and users are big gainers. This is because tools needed for work are all provided and basically, the mass adoption we all hope for will happen in no distance time
Health care, transportation, insurance and governance ultimately will feel the impact of this technology. I am so convinced that ProximaX is here to stay and would be better in time to come.
PS: All images were gotten from the website, unless otherwise indicated
ROAD MAP
MEET THE TEAM
For More Resources
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
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