Overview
Recent times have seen the centralized system of distributing nodes as not being compliant enough with users requirements nor standardized enough and not encouraged by many individuals and organizations which uses the blockchain ecosystem, which later brought about a better system of distributing nodes which is the blockchain distributed ledger system, where blockchain activities are fused together and shared to various networks or nodes. "ProximaX is a next-generation Integrated and Distributed Ledger Technology (“IaDLT”) development platform powered by blockchain technology, known as ProximaX sirius". Perfection is difficult to attain which is also the case with blockchain as it has it's own downsides which ProximaX has really placed its focus on to nulify those difficulties through the creation of personal decentralized apps that focus on the problem at hand during usage while being supported by core-services such as streaming, storage and supercontracts.
The Sirius Chain is the blockchain technology which controls and monitors the activities on the ProximaX platform. People are developing an intimate familiarity with the blockchain technology because of it high security and the fact that activities carried out on the blockchain technology is performed in a trustless manner. Knowing this fully well, PromimaX intends to make use of the Sirius chain to modify the actions of the blockchain technology to create DAaps to suit specific needs of the user before data can be stored in binary form in the sirius storage, which serves as the storage location for both the sirius chain and supercontracts.
ProximaX Tokenomics and Token Ecosystem:
Most blockchain platform have their own incentive system used to reward users and other platform participants. ProximaX tokenomics is the incentive system of the ProximaX sirius chain which is rewarded to users based on the activities carried out on the platform as well as their achievements measured in terms of their "reputation".
The Token ecosystem consists of both the internal and external systems. The internal system which includes the ProximaX native token (XPX) which is used to pay for using the platform services after each user's usage have been measured in terms of service unit which is the second internal system of the platform and finally, the "Custom tokens (mosaics) are created to power the internal economy of a decentralized application". The external ecosystem on the other hand enables end-users to pay for service units in form of XPX and fiat (physical currencies)
Benefits of ProximaX over other blockchain infrastructure :
Transaction process; Transactions carried out on ProximaX are secured using encryption techniques provided by the blockchain, with the inclusion of a Quick and efficient transactions process on ProximaX platform at a rate of more than a thousand per minute.
Incentive System; the incentive system of ProximaX encourages users to use the platform on a regular basis in order to build up their reputation which automatically increases the rate of incentive allocated as per their reputation and also enable users to work together to reach an optimum outcome for the entire network.
Token functions; on most platforms, the sole function of cryptocurrencies is for payment systems but on ProximaX platform, tokens can be used not only for payment but to *"power the internal economy of a decentralized application such as custom tokens (mosaics)."
" It also Provides an agile architecture that facilitates the addition of new core services, and the creation and deployment of advanced applications."
ProximaX not only run on systems with a monitor and Keyboard but also on normal individual everyday mobile phones.
What are the benefits of having all the tools required to develop any type of project in one place?
Account : similar to how accounts are created on series of applications or social media but in this case consists of private and public keys(passwords). The private key is personal and should be known only by the account holder in which whoever gains access to the private key, could modify it and ultimately control the account.
Namespace : the name space is the name the user desires to give the account created. A name space used by a particular user cannot be reused by another as once used, it is stored in the sirius chain.
Mosaics: mosaics are regarded as the asset representation on the ProximaX sirius ecosystem which is most times referred to as token.
Metadata; "Metadata is a way for storing custom data in Sirius Chain. It can be added, updated and deleted. An account can add metadata to its address, its namespaces, and the mosaics that it owns."
Multilevel Multisignature ; "Multilevel multisignature is used for creating multilevel agreements on Sirius Chain"
Cross-chain Transaction : transactions need to be carried out which helps promote the platform towards greatness. Accounts with public key and an account with a private key can perform and transact together instead of going to a third party platform to carryout such transaction which often result to leakage of private Information. Having all you need in one place ease transaction process and issue of platform incompatibility.
ProximaX sirius core services:
"Core services are predefined plug-ins." ProximaX have some core-services that aid operation of the sirius chain which are as follow :
Blockchain; blockchain is a complex technology that requires extensive understanding of its nature before usage. It offers a range of services such as security which is a paramount feature for a backbone technology as well as its trustless features and decentralized form of operation. A project built on the blockchain technology is secure by an end-to-end encryption and keeps information that are personal safe such as password and other algorithms which makes web services secure and ensures the security of the project.
Storage Capabilities; for a successful web service and projects, it is necessary for activities and actions carried out on the ProximaX platform be stored for future access. The ProximaX storage takes care of "all types of binary data, be it graphic, video, or just text" as what's not stored is subject to be lost.
Sirius Streaming ; the ProximaX sirius streaming is of two types, the storage streaming and the live streaming. In the storage steaming, stored video or pre-recorded videos are streamed to various users of the platform and like YouTube, streamed video can be downloaded not only by the streamer but also by those watching or streaming from various locations. For the live streaming, video are not pre-recorded or stored but are live streamed (i.e) that is action happening at the current mainnet are streamed to various users at various locations. Both methods of streaming data are din in an autonomous manner which means the sender is acting on their own decision and aimed at creating a form of trust relationship with viewers even though they haven't met.
Supercontracts; building a successful web service and projects can't be attained without coming or making some minute mistakes during coding most especially address codes. Originally on the blockchain network, coding a digital contract should be carefully done as any mistake made cannot be changed and as such, such developer come to a pause and restarts the project over again. Such is not the case with ProximaX as codes are stored on the sirius exchange which can't be changed or altered during processing and this is done by supercontracts. "The goal of the supercontract function is to build an executable code that directly represents a digital contract that can be custom built to run based on a specific business use case".
Sirius Database : "It uses BigChainBD (IPBD) 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 contracts."
use-case;
Jack is in need of a platform that offers a vast range of features that can ease work done and avoid the use of multiple platforms to carry out a single operation. Most platform he has tried out, either have their operation on their platform and their storage on another platform and most times leads to leakage of information to a third party which he has experienced before. He got to know about ProximaX when he was surfing through Medium as they offer everything you can imagine. It's an all in one package and to cap it all up, offers two decentralized systems, the blockchain and sirius database. He opened an account and created his unique name space and all his data are safely stored and accessible and also modifiiable after being stored. Now Jack can sleep with all eyes closed without having to worry about his data's safety.
I made a short YouTube video.
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Link posted to Twitter
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Instagram post here
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Additional information
ProximaX Website
ProximaX whitepaper
ProximaX Twitter