ProximaX, the new generation of Blockchain, for network integration
Proximax also known as the ProximaX Sirius was founded by Lon Wong and Alvin Reyes, proximax is a project that is ushering the blockchain into the next level and also helping to secure space for the next generation of developers.This project is focused on developers who dedicate their time and finance into building applications in a decentralised state.One of the most amazing thing about the proxima x is that it is not just open to the blockchain enthusiast alone but it also provides the technology and tools needed for developers to build dapps while using the blockchain advantage.It gives developers the autonomous power to show there creativity on personal developed dapps and systems.
There comes in Proximax. Proximax's vision is to offer all the capabilities that a blockchain is capable of today in one blockchain ecosystem. It encompasses everything to offer a complete package of possibilities to developers including transaction speed, scalability, storage, smart contracts, streaming, SDKs, IoT capabilities, tokenized asset issuance, cross-chain asset exchange ...and everything imaginable. It is going to provide a full-fledged platform offering a wide range of easy-to-use development tools to dApp developers for universal application development.
-It has the facility to synchronize and organize files automatically.
-It is safe and supports a wide variety of devices.
-You have no problems sharing information.
-Recovers data optimally and efficiently from a database system.
-It has a flexible design.
-store and stay in any type of network on the blockchain, whether public or private.
-It has a protocol to Filter, choose in such a way that it marks and eliminates any inappropriate or illegal content.
-The content is transmitted directly to users without exposing identity and IP, thus maintaining privacy.
Flexibility ; ProximaX host of SDK's and API empower developers to build truly world class application with little resources and also enhance user experience
Cost-Efficiency; Unlike other blockchain options, ProximaX economic model ensures that transaction cost remain competitive and fair via their adjustable fee framework powered by the PoG consensus.
Data streaming enabled environment; Data streaming is one of the derivable benefits of implementing the PSP(PeerStream Protocol) within the ProximaX blockchain.
Ease of Adoption; Due to the universal nature of the blockchain, local border laws does not circumvent the operation of a business locally or abroad
Security and Speed; ProximaX has raised the bar by inventing the PoG(Proof of Greed) consensus mechanism to always keep malicious activity in check.
Core Service of ProximaX
In storage streaming, the data is pre-recorded and then using the streaming unit, it is streamed to the end-user. The acceptors pre-load the streamed data, the replicators replicate the streamed data to the end-users. The streaming happen between nodes in a distributed network and the propagation happens by cryptographically signing the data between the nodes. Both storage unit and streaming unit are required for streaming the data or content.
In the Storage contract part, a contract is offered by the consumer which mentions all the details such as storage size requirement, duration, price, etc which is then accepted by the storage node actors (acceptors, replicators, etc). Once the contract is accepted it must be honored, otherwise just like incentives to provide the service exists, so as the penalty for not honoring the contract. As a part of Proof-of-storage the replicators, acceptors have to stake the required units to be eligible for providing a certain service as per the storage contract. If the contract is accepted and agreed, the replicators and the acceptors must provide and run the service requested by the consumer, else the staked units by the replicators/acceptors are forfeited and the reputation is also degraded.
It is document-based storage with added blockchain properties which is available for applications that need database as part of their solution as they use the public network as well. It uses BigchainDB("IPDB") that stacks MongoDB for a distributed database and for its blockchain properties they emanate from using Tendermint as a consensus algorithm.
The Sirius database is a component that is compatible with several technologies outside Proximax making it _ technology agnostic_. It's been confirmed that it is also compatible with the Ethereum Virtual Machine and IPFS. The Sirius database allows an application to respond as though it was built with any other decentralized processing technologies and it provides the advantages of the pre-existing libraries as it has an underlying data store.
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.
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.
In streaming unit, two types of streaming exist- Storage streaming & Live streaming.
In live streaming, the data or content is streamed live, that means recording, transmission, distribution, etc. all happen simultaneously and instantly to the end-users. Here the node actors are many and bandwidth plays an important role for the selection of the node actors. The stream sender broadcasts the streamed data and the stream receiver receives the streamed data, but in between stream sender and stream receiver there are other types of node actors w
1-to-1 live streaming
The stream lending node is very very important which routes the streamed data from stream sender to stream receiver. If there is some interruption detected in the live streaming that indicates that the stream landing node is a faulty one and that is replaced by another one from the stream verifier node.
The performance is verified by using time tags. The stream sender sends a time tag to the stream landing node which is signed by the stream landing node and sent back to stream sender.
Similarly, the stream landing node sends the time tag to stream receiver which is signed and sent back to stream landing node.
1-to-many live streaming
The real challenge is huge bandwidth requirement. The stream landing node alone may not be able to route the streamed data to a number of receivers. Therefore the streaming from stream sender to stream receiver is routed through stream landing node as well as stream distributor node. Stream distributor node has the capability to route the streamed data to a huge number of stream receivers. If it is about live broadcasting to a huge number of audience, then this type of arrangement is required for using the distributed streaming unit of ProximaX.
Proximax's Supercontracts eliminates these weaknesses of traditional smart contracts. They can be easily modified, stopped and also easily executed. The reason for this is that they are stored on the Sirius storage ( which can hold and execute codes simultaneously) and not on the Sirius chain. Of course, modifications made to the contracts are those agreed upon by the pre-established authorized parties in the consensus algorithm.
By storing the super contracts on the Sirius storage, Proximax brilliantly eliminates the weaknesses of traditional contracts and realizes its goal of building executable codes of digital contacts which can be custom-built for specific business purposes.