A great opportunity for investors seeking great projects to invest have appeared, let's talk about ProximaX

in #proximax4 years ago (edited)
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Blockchain technology is starting to mature, after one decade the number of amazing proposals for potential use cases is mind-blowing. We are at the entrance of a new technological era, and such matureness is showcased by outstanding projects which are not only innovative and audacious but also are truly impressive due to its level of complexity and craftiness with which their development team deploys integral solutions to encompass a kit of solutions for pretty much all the challenges that current blockchain technology has. One of such outstanding projects is ProximaX (pronounced Proxima X), the new rabbit Mr Lon Wong (the very first president of NEM.io) pulled out of his hat.


Current challenges in our hyperconnected world

The internet is the framework upon with modern society functions on a daily basis, none of the daily tasks in today's cities would be possible without the ability we have to send and receive data from all over the world almost instantaneously. But the underlying technology of the internet is falling short into the expectations of most customers in several aspects.

  • Unreliability of centralised services providers:
    Modern society has become aware of the value of each individual data, this has generated a conflict with centralised corporations whom always have been aware of it and also always have been profiting on its customers data at expenses of their clients privacy.

    Furthermore, centralised system has too many attack vectors, and in the scenario of system failure millions of customers are affected from such outages (Facebook, Instagram Suffer Total Outage in UK, Facebook says it's resolved outage issues and denies attack). In a modern economy, highly dependent of internet-based networks, such outages can generates millions of loss per minute... a totally unacceptable scenario.
    Not to mention the excessive power centralised entities have over the data of their customers. Misaligned interests of customers and service providers have drove censorship, backdoor markets were customers data is sold without customers awareness or consent.


  • Lack of scalability of current centralised and decentralised solutions:
    In centralised systems, all the information has to be routed to the central processing/storing facility, such network architecture inescapably leads to an unmanageable increase in the infrastructure costs, since the hardware needed to operate such a network increases exponentially as the number of users increases linearly.

    On he other hand, current blockchain technology has an unaddressed issue that threatens to hinder the development of the ubiquitous blockchain-based networks, Storage capacity... despite having a decentralised infrastructure, most blockchain nodes do almost none parallel processing, thus the very same transactions have to be stored and processed by each node. This leads the creation of several Gb of data per month, making the storage of the entire transaction history a costly task.


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    A solution is required in order to release the full potential of blockchain technology, and ProximaX's team claims they have found one!


    What's ProximaX proposal?

    ProximaX is deploying an amazing network called the ProximaX Sirius Platform which combines both and on-chain solution built on tip of the powerful NEM blockchain and an off-chain infrastructure that works in perfect synergy with the blockchain layer to address the challenges current pure on-chain networks are unable to handle.


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    Source: ProximaX Whitepaper, page 14

    The four pillars of ProximaX's


    1. Distributed File Management System (DFMS) P2P File Storage Solution Based on IPFS: ProximaX's team spare no efforts to free its platform from the constraints of centralised Infrastructure as a services (IaaS) providers for storage necessities. They will create a P2P decentralized storage network which offers the following keys advantages:

      High availability, files are replicated across every node to guarantee they will be available when needed.

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      Fault Tolerance, peers on the network allows operational continuity when single or multiple peer fails.

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      Deduplication, the storage network will have a data compression technology that will find duplicate files to avoid saving duplicated information on the storage network.

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      Content addressable storage (CAS), files content will be hashed in order to attach an unique mark and classify them according to their content instead of their storage location.

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      High Performance, the more peers the better the performance of the network in terms of storage and bandwidth capabilities.

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      Immutability, since files content is hashed, peers won't be able to modify them. This feature guarantees data integrity on the network.

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      Clustered/Distributed architecture, peers are organized into clusters allowing permanent access to the data stored on the network.

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      Access content offline (caching), a caching mechanism will be enabled at the clients side to ensure that data availability even if the client goes offline.

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      Multihash Protocol, enables the compatibility of the network architecture with multiple hash functions in order to grant a smooth upgrade if is neccessary to change the current hash function.

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      Web service HTTP API, the P2P storage nodes will have a built in Exposed web services endpoint, allowing developers to easily integrate their dapps with the storage network.

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      Such a P2P cloud stoge network, relying on the already successful IPFS technoly and integrated with the powerful NEM permisionless/permisioned blockchain technology grants an opportunity to create an on demand, fair, and efficient storage network with unmatched advantages.


    2. A Peer Stream Protocol (PSP) that allows real-time streaming: a revolutionary protocol for online P2P private messaging is being developed for routing data and enabling secure off-chain communication channels. This protocol will be used on the ProximaX's streaming layer to guarantee users and nodes privacy.

      Unlike its competitors, ProximaX's PSP will be insulated, this feature eliminates the risk of mainteining exit nodes and out-proxies. The PSP routing will be donve via entry nodes and ephemeral interconected routing circuits to privately connected users, Dapps, IoT, live streamers and stored content in the ProximaX ecosystem.
      The most remarkable advantages of ProximaX's PSP are:

      Namespaced Dapp Protocols, ProximaX dapps will have the ability to design their own unique namespaced protocols to be carried by the PSP protocol.

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      Distributed Authentication and Verification, users will authenticate and verify one another using crypto identities to guarantee integrity, confidentiality, and authenticity.

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      Distributed Presence, users will be able to announce their presence status privately wihtour revealing ant Personal Identificable Information (PII) and other meta-data such as user's IP.

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      Clustered/Distributed Presence and Real-Time Streaming, streams and presence data will be replicated by peers acrooss the network to ensure availability.

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      Private and anonymous routing, users will enjoy private routing and anonymous discovery to enjoy the higher levels of anonymite for all participants.

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      Distributed content creation, content creators will be able to distribute their content directly.

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    3. Blockchain NEM's NextGen "Catapult" Technology: ProximaX will rely on the robust NEM's Catapult Technology, this will allow users to enjoy the benefits of the successful Proof of Importance (PoI) Consensus Algorithm and the harvesting incentives already present in the NEM ecosystem. Furthermore, PoI will be expanded with a second layer that enables measuring and rewarding of storage and bandwidth contributions by nodes on the ProximaX ecosystem. This flexible developing environment allows Dapp developers to create the monetization model they think fits best with their business models.


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    4. Multilayered Consensus Protocols Architecture: ProximaX will use a multilayerd architecture to build an ecosystem for voting, decentralised governance, harvesting, rewarding storage and bandwidth contributions. The native token of ProximaX is called XPX, it will be used to reward ProximaX nodes, Dap developers, and content creators.


      ProximaX Whitepaper, page 20

      The three major consensus protocols used on ProximaX ecosystem are NEM's Proof of Importance (PoI) where Stake and transaction volumes are key to determine node rewards, Proof of Storage (PoSt) where a memory-intensive function has to be solved by the node to demonstrate the memory chunk the node is currently contributing to the network, and Proof of Bandwidth (PoB) where multiple oracles will determine the amount of bandwidth each node has contributed to the network.


    ProximaX economic model

    ProximaX economic model relies in a dynamic periodic suscription (monthly/annual), users shall purchase XPXs and use them to gain XPX power on a side-chain "power" layer to avoid crowding the core NEM transaction layer. XPX power will be allocated to the users via cross/chain exchanges and it ill be consumed as users perform actionson the ProximaX ecosystem.

    ProximaX monetisation parties

    Three agents shall expect to be paid in ProximaX dynamic economic model. These parties are:

    • The network's nodes (Blokchain + Storage + Bandwidth)
    • Dapp developers
    • End users (content providers/creators)

    • ProximaX will provide a set of APIs for dapp developers to create dynamic dapp aconomic models. In such models Dapp developers could distribute the consumed XPX power to the network nodes, to the dapp itseld, and to some of their users. The greater the percentage the Dapp developer asigns to the network nodes the higher the importance score assigned to the dapp namespace/protocol, hence a greater chunk of the networks resources will be available for that Dapp.


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      Dapp monetisation model

    In order to use ProximaX ecosystem's Dapps, users should add XPX power via regular subscription, this XPX power is then send to the Dapp and the Dapp developer gets rewarded with XPX equivalent to the XPX power allocated to the Dapp. The percentages of allocation of the XPX power earned by the Dapp would be dynamically set by Dapps developers.

    Dapp freemium model

    ProximaX will have the ability to accept comercial nodes to create freemium models. In such model a comercial, privately hosted node is set by the Dapp developers and then subscribed to the ProximaX network. Since the comercial network is alredy paying for the ProximaX network subscription, the users of such a Dapp will be able to use the entire ecosystem for free.

    The intend behind this hybrid (private/public) infrastructure is to allow developers to configure nodes capable of having back-end flexibility to readibly deploy dapps beyond ProximaX networks capabilities.


    What can we expect to find into ProximaX ecosystem?

    File Hosting Services

    ProximaX can be deployed in a privately-owned decentralized network flavor, this will allow companies to create networks for managing their files in a fail-proof environment of perfectly synched devices.


    File Sharing

    ProximaX terminates backdoor market for users data, within this reliable ecosystem users can securely share their data because they will always be aware jow and where their data might be used.

    Content Creation and Monetisation

    Dapp developers will have the required tools to design different models for content creators to get rewarded by their contributions, the crafty and flexible economic model of ProximaX allows content creators to be rewarded if a user sees their content since the user pays XPX power to watch it.

    Decentralized Governance

    Although this is a platform were free speech is encouraged, the deeds of malicious parties spamming the network or streaming illegal/copyrighted content can be stopped if a sufficient percentage of the userbase flags the malicious party's content. This will place restrictions on the malicious party's ability to store and stream data on the network.


    Secure Multimedia and Message Streaming

    ProximaX privacy-focused communication channels will allow total privacy for content streamers, the IP of any other personal information of the user would not be able to determine. Thus, only the intended end-user will be able to access the content.

    Know Your Customer (KYC) Services

    KYC on ProximaX will be used to prevent fraud and malicious parties to harm the ecosystem while maintaining the privacy of each user.


    ProximaX's wide range of use cases


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    XPX Token Economics

    The XPX is the native token of the ProximaX Sirius Platform, the platform integrates and uses the NEM public blockchain to handle the token in the form of Mosaic (tokens with inherent utility value and a business model behind them). By no means this token shall be regarded as a security and its value will be driven by offer and demand.

    XPX Distribution

    The total token suply will be nine billion (9,000,000,000), 5 billion (5,000,000,000) where sold in a public and private sale and the other 4 billion (4,000,000,000) are reserved for distributing between the founders, core team, vendors, marketing, and for the nonprofit foundation dedicated to the development of the ProximaX ecosystem.

    The reserved tokens are being used as follows:

    • 234 million (2.6% of the total suply) are reserved for the founders
    • 360 million are available for the core team (4% of the total suply)
    • 396 million are available to the vendor PeerSteam Inc. (4.4% of the total suply)
    • 450 million are available for marketing (5% of the total suply)
    • 2.56 billion are available for the nonprofit organization on charge of the development of the ProximaX ecosystem.


    Source: ProximaX Whitepaper, page 34


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    Here are some cool videos about ProximaX



Can't habe enough of ProximaX? Watch this AMA hosted by the CEO Lo Wong

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