Snax Blockchain

Snax blockchain uses DPOS consensus system. DPOS stands for "Delegated Proof of Stake". Snax uses EOSIO source code base. So, it has many of the advantages of EOSIO. However, Snax Blockchain Network has a different perspective on few basic blockchain ideas, such as:

• account registration,
• computing resources management, and
• initial coin offering.

Snax also understands importance of user-friendly interface. It pays special attention to create the user-friendly interface to cover every stage of using Snax Blockchain Network.

Snax's primary priority is to provide the ease of using Snax Blockchain Network for an average Internet user.

Source: Snax Blockchain Network




Ref: https://snax.one/

Some of the other technical features of Snax Blockchain Network include, but are not limited to:

• Free accounts and zero cost transactions
• Fair RAM market for dApps
• Social Transactions
• Platform Inbound Oracles

Free accounts and zero cost transactions

Registration of an account on DPOS Blockchains, such as EOSIO, usually requires to stake basic platform tokens for

• RAM,
• CPU, and
• NET

usage. In order to free users from buying tokens during the process of registration, Snax Blockchain conducts a pre-mine to stake own tokens to create new accounts. Refer to Whitepaper https://snax.one/whitepaper.pdf

Snax Blockchain stakes basic tokens on user accounts itself, so it makes direct transactions on Snax Blockchain Network become completely free. On top of apparent benefits for users, free registration also removes economic obstacles for launching and scaling of DApps. Yes, Snax Blockchain supports smart-contracts which allows to create games and social applications. Call these social applications as Social DApps.

Fair RAM market for DApps

The concept of RAM market, which has been introduced by EOSIO, is inevitable for maintaining a stable work and scaling of blockchain. It is, of course, crucial to implement a proper operation of this market to provide fair RAM
price to protect DApps developers from market speculations.

RAM purchase are the most significant part of EOS DApps expenses as they have to register new accounts themselves in most cases, and RAM price on EOS Mainnet network rose up 5000% in summer 2018.

From Snax’s perspective, it is necessary to understand and differentiate the way user access(es) the resources:

• to create new accounts (RAM is provided on the Snax expense)
• to carry out a transaction (RAM, CPU, NET is provided on the Snax expense)
• to use in DApps directly (by market pricing mechanisms of Bancor Relay)

Social Transactions

Snax'x Social Transactions mechanism provide a possibility for any user to send SNAX tokens to any account on a social platform, integrated into Snax.

Snax.system smart contract has a list of platforms each of which has its own Platform Share Supply. Adding of new social platforms and changing of Platform Share Supply is adopted by voting of Snax block producers.

For integration of a new social platform into Snax, a separate smart contact should be created. This contract is operated by a particular system account, which distributes Regular Publisher Rewards. The contract stores a map between the id of an account on a social platform and the account on Snax. For instance, to bind an account on Twitter with an account on Snax, a user must publish a particular tweet under this account to prove the ownership of it. Snax can also support an OAuth mechanism to verify the ownership of some social media account.

Please note that Social Transactions are of zero-cost for users.

Platform Inbound Oracles

Smart contract of every platform must have own Inbound Oracle, responsible for collecting data and adding it to blockchain during the Scoring Round. Inbound Oracle is crucial for calculating Regular Publisher Rewards because the overlay solution cannot exist as a deterministic system since data of third-party social platforms is changing constantly.

The methodology of calculating content value makes it possible to use Inbound Oracle and obtain results close to deterministic. Using the Monte Carlo method shows that the distribution of SNAX supply approaches specified Platform Supply Shares in long-term within a relative error of no more than 5% independently from Scoring Round
Time of each platform.

For further study read the Whitepaper https://snax.one/whitepaper.pdf