Since the advent of Blockchain technology in 2008, our world has experienced what the experts call, a major paradigm shift. Blockchain technology exposed the whole internet-sphere to a more decentralised pattern, improved security and made efficiency become a norm to every system that adopted this amazing piece of tech.
It's been over a decade since Blockchain was introduced, and the rate at which it has been adopted into major sectors is fascinating.
However, the need for a critical ready.-evaluation to determine how much change this modern technology have been able to effect and, how the whole system could be improved is really important.
Blockchain, has the tendency to become one of the most economically viable technology in our world in the nearest future, but all these cannot be achieved if it is only utilised as a ledger where digital transactions are recorded.
With the industry growing vastly every day, the need for blockchain to be leveraged in a manner where it can be used to perform our daily activities is on the increase.
Presently, blockchain is used in almost every sector ranging from finance, commerce, real estate, agruculture, energy and a wide range of others. This level of adoption has stirred up a great deal of competition in the industry. Hundreds of projects are being introduced into the Industry on weekly basis, and a whole lot of them clearly do not seem to deliver on their promises.
ProximaX is a decentralised platform that provides an environment where blockchain can be utilised to satisfy a wide range of use cases.
Proximax was specially designed for developers, in order to give them the added advantage for them to thrive in this fully congested industry.
The ProximaX ecosystem is powered by Sirius chain. The Sirius chain is the name of the blockchain technology utilised by ProximaX to provide these top-notch services.
The Sirius chain is the platform's blockchain which is used to record every activities that occur on the ProximaX network. The Sirius chain enables data to be stored in a decentralised manner across a large number of nodes on the network. It also provides security, immutability, digital contracts and all other features on a blockchain network.
Sirius chain works with the Proof of Stake (PoS) consensus to provide a widely efficient economic environment and it also merges the capability of a new consensus algorithm called the Proof of Greed (PoG).
The Prood of Greed algorithm helps to maintain fairness within the system and also improve the efficiency provided by the PoS consensus.
Below are list of Core Services the Sirius Chain Provides:
Sirius Chain, unlike any other blockchain, provide a top-notch storage system. The Storage system consist of several nodes which are inter-connected to share data amongst themselves.
The Sirius storage system have been programmed to accept both structured and unstructured data, which are then distributed in little chunks and stored into a collection of peer-to-peer storage devices.
Supercontracts are just like the normal digital contracts, only that these one are more efficient and can be easily executed and modified unlike the normal digital contracts. These supercontracts are really important to facilitate transactions on the platform.
It is noteworthy that supercontracts can be written by developers in various programming languages including JAVA, C+t, C#,Python, Golang, Js and Rust.
The Sirius chain, provides streaming services unlike any other blockchain project. The sirius streaming platform comes in two functions:
These type of streaming involves the transmission of already stored data. These data are stored in dedicated nodes and when being streamed, viewers are given the freedom to view and also download the data.
In this form of streaming, the data is distributed, replicated and then transmitted in real time. These services are controleed by dedicated nodes who transmit this data from various regions around the globe.
The Sirius database is one of a kind. It is a document-based type of database abd it was uniquely created to enanle developers easily onboard their applications on the Sirius chain.
The Sirius database is a standalone platform which uses Tendermint as its consensus mechanism.
This unique core service, is everything any content manager needs to help broaden his/her scope in the aspect of content creation.
The Sirius content review section provides a consensus -based review process on the network.
It is fully efficient and contains the necessary tools needed by every content creator.
With a vast network of nodes on the Sirius Chain whose function is to distribute data with ease across the system, ProximaX is able to provide lightning speed. This way transactions and transfer of data can be carried out in seconds.
The problem of scalability is one which the Blockchain sector has battled with for years. ProximaX however, provides a fully scalable system that helps to solve this problem. With highly distributed nodes, ProximaX is able to achieve an impressive throughput.
One benefit blockchain provides is Security, and ProximaX has been able to leverage this important feature to build a stable ecosystem.
The system was designed to prevent cyber-hacking of data through the distributed node system making it impossible for any hacker to penetrate their firewall.
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