Everyday the world experience different influx of activities, these activities surely does have expansionary effect on every country economical sector. Several networking platforms engage in different intricate structural pattern which makes them complicated for developers and users carry out seamless flow of activities regarding their sites. Technological advancement is a major tool that is inherent to aid the progress of modern society efficaciously. However, the byzantine complexity of platforms makes it rigid and difficult to enable users carry activities systematically without any form of hassle.
The fact still remains that, for a platform to actually succeed into what is believed to be a global market, it must first exert itself by sussing out competition; they just do not foray into any commercial venture and expect to hit the ground running without ingeniously and effectively setting out a an impressive design, one that cannot be fault ergonomically. What is experience from networking platforms currently is that they do not create their own decentralized applications and system solutions for their own commercial use.
In any decentralized system, it is important to define the set of actors that will work on a designated task. The ProximaX Sirius platform has several actors in its ecosystem due to its multiple core services. To accommodate the multiple ecosystems, there are currently three server node types that can perform different functions simultaneously.
Node servers are single binary code that need to be installed by node owners to participate in the network.
The blockchain server enables transaction validation in the network. Given that Sirius Chain uses Proof of Stake, node owners need to have a level of stake to participate. The level of stake is relative to their chances of validating a transaction and earning fees.
The storage server enables the contribution of storage space to the network. A storage node owner needs to stake by obtaining SO units, which represent a node’s storage capacity.
The streaming server code uses bandwidth resources to host a data stream. A streaming node owner needs to stake by obtaining SM units, which represent a node’s streaming capacity.
Servers are independent from one another. Each has a unique action and response relevant to particular events that occur in the network. The following table shows the server types and their corresponding node actors.
With traditional digital contracts, the only way to offboard an application is to update an external dependency, rather than closing the application via its backend. This is quite a bulky and time-consuming process.
With supercontracts, it is much simpler. As the code belonging to a supercontract resides in Sirius storage, to offboard an application, a developer simply needs to close their Sirius storage drive, which makes a supercontract’s code unavailable to end-users.
Alternatively, if it is not yet executed, parties to a supercontract can leave it as it is, meaning they do not sign-off for it to be executed.
If it is already executed, then an execution process can be stopped, but this ‘stop request’ needs to be signed off by participants through a pre-agreed consensus mechanism.
What is ProxiMax?
ProximaX is a next-generation Integrated and Distributed Ledger Technology (“IaDLT”) infrastructure platform solution powered by a decentralized application that utilise services and ensure a free flow of activities.
All stored data is encrypted and time-stamped by default, which ensures complete security and an audit trail, in addition to being immutable and irreversible.
ProximaX Suite is an enterprise-ready, end-to-end office suite where applications such as word processing, spreadsheets and presentations are now blockchain-powered for superior availability, security and privacy.
ProximaX File It!
ProximaX File It! is a client-based file sharing app that stores and shares files across multiple nodes on the ProximaX Sirius platform.
ProximaX Forensics is designed to bring about greater efficiencies and data security, thus enabling investigators and scientists to access digital evidence easily, quickly and also store digital evidence securely.
Sirius Chain is based on the latest version of NEM’s blockchain called “Catapult” (Dragon version). Catapult provides a predefined set of features that are applicable to most if not all business use cases. This makes Sirius Chain extremely attractive for building any type of service either as an extension or as an application vertically on top. ProximaX Sirius relies on Sirius Chain to facilitate transactions for the platform’s core services. Given that Sirius Chain will perform some “heavy-lifting”, ProximaX developers further enhanced some of Catapult’s core elements, in turn improving its performance. Sirius Chain uses a Proof-of-Stake (“PoS”) consensus algorithm which is arguably the most effective and performant algorithm scheme. It is the best fit for the platform as it is economically efficient, and has minimal hardware resource requirements, making it easier to invite blockchain participants, and balance the network.
Sirius Chain Goals
For a digital economy to be based on a fully decentralized peer-to-peer ecosystem, ProximaX kept the following goals in mind when developing Sirius Chain.
Ability to process transactions securely, quickly and efficiently, at a rate of thousands per minute or more.
Provide incentives to encourage existing and new participants to expand and secure the network.
Scale globally with a minimal resource footprint.
Offer a range of basic transaction types that launch cryptocurrencies past their core use of a payment system alone.
Provide an agile architecture that facilitates the addition of new core services, and the creation and deployment of advanced applications.
Be able to run on a broad range of devices, including mobile phones and IoT.
Sirius Chain Tokenomics
As with all blockchain implementations, it is important to establish the token economy basis of XPX. XPX is the native token that will be used by all consumers that utilize the platform’s core services, and to incentivize node actors. A consumer needs to pay XPX to use the public platform. A node Validator will receive XPX as a fee for validating transactions and forging new blocks (“work done”). Each block consists of transactions that have fees attached. The fees are summed together to create a “block reward” which is then split among the different Validators that participated in the process.
How does this innovation affect and benefits millions of users across the globe?
Basically, it's understood in the past that transactions were usually over the counter and activities were usually hectic and unsecured. Customers found it difficult because platforms were centralized thereby constraining their authorization of their accounts. With the invention of ProxiMax, users no longer have to liquidate their stocks and assets as they are widely assured that their data storage is secured and The ProximaX Sirius’ APIs and SDKs are available in a broad range of programming languages making it easy to integrate with a wide range of applications.
Mr Watford an old fashioned businessman who perhaps isn't really proficient when it comes to dealing with platforms that are decentralized, he doesn't have plenary control of his account making it difficult for him to get involve with clients around the globe. He found activities using platforms painstaking and less effective because the interval between his transactions were slow and is account was secure and safe.
His friend Mr. Keith on the other hand was enjoying series of seamless, secured and transparent activities as ProxiMax provided him
the essential utility services for his own commercial usage. He runs a DApp system where there are immutable services with high speed and more Sharding that brings about a more plummeted growth in his business.
He said this to his friend in a more explicable term and they both enjoy the platform together.