Blockchain technology has already been spread across the world. There is lots of decentralized project floating on the ocean of the Blockchain. These projects are based on specific niche some project provide great transaction speeds, others focus on storage and security, while others focused on streaming, etc. Each project provides different tools to the developers to develop different kinds of application but there is no relation between these tools. If a developer wants to develop an application based on security, storage, enormous transaction speed and streaming then it is too difficult to develop such type of application because there is no integrated tool available in the market. This is the current issue of the blockchain world or we can say it is the biggest barrier on the way to mass adoption of blockchain technology.
In similar fashion, this short story captures the mood of millenials when satoshi stumbled on the idea of Decentralized blockchain to re-invent the way we handle, store and exchange value, albeit in a trust less manner as opposed to the old traditional payment system which has obvious disadvantage in terms of security and user control; a problem which was addressed through the advent of conventional blockchains like Ethereum and Bitcoin.
On blockchain ecosystem, there are anormous amount of technolgy and application which are providing scertain set of services, and then comes another technical applications which are meant to rectify the problems like scalability etc.
The main delima lies on the variety of services. One needs to employ different applications due to their services in order to complete a work. which is indeed a hazel.
ProximaX enables a business to almost eliminate back office expenses by cutting out the middleman. Massive data collection is a fact of life for almost any business. Data must be entered, reconciled for regulatory reporting, and passed on to the appropriate individuals. Blockchain technology eliminates many of these steps by providing a real time audit of transaction while maintaining both transparency and security.
The data gathering capability along with smart contracts and cloud storage will change the banking industry, the real estate industry, and almost any business dealing with data on a daily basis. The ability to verify reported transactions in an instant is worth a fortune to these industries.
The applications are endless.
In ProximaX Sirius chain, asset representation can be done, tokens can be created for specific business needs, all the "work done" in the network can be incentivized. All the structured layers in Sirius chain are defined as "service units" which are part of the token economy of the ProximaX platform. So the access and use of each service unit have financial implications. Sirius chain allows the extendability functions in the service units.
The Sirius chain runs by the consensus algorithm Proof-of-Stake(PoS) & Proof-of-Greed(PoG). PoS requires staking to become a validator node. PoG counter-balances the PoS mechanism so that the selection of validator nodes can not be solely on the basis of stake. PoG keeps a check on the greedy behavior of a node charging high transaction fees. Apart from that the age of the node is also taken into account for the selection of validator nodes. So PoS and PoG together make the Sirius network fair & balanced.
RoadMap
Account
An account consists of a private key and public key. The account holder is offered with a deposit box in the blockchain. The account holder can only modify the deposit box with the pair of keys. A user is recognized as an account holder if he/she owns the keys of that account.
Cross-chain transactions
As various types of chains(public, private, hybrid chains) thrive on Sirius chain as side-chains, it is essential to make the side chain-main chain interoperable so that the transfer of assets from one chain to the other is possible. This is supported in Sirius chain with an "atomic swap" facility. Cross-chain transactions expand business potential.
Aggregated transactions
When a set of multiple transactions are batched together, it is known as Aggregated transactions. For the execution of such a transaction, all the account holders have to co-sign the transaction. Trustless swap in such a case happenes through an advanced logic.
Metadata
The customizable attachment of data to the predefined objects is known as Metadata in Sirius chain. With metadata, Accounts, Namespaces, Mosaics can have additional flexibility as metadata can be added, modified, deleted.
Multi-level Multi-signatures
The hierarchical approval of the assignments/tasks is very prevalent in almost all businesses/enterprises. So in an enterprise edition of a blockchain solution, it is essential to implement multi-signatures to reach an agreement between the various entities of a task/assignment under consideration, so that a comprehensive approval can be done at multiple levels to reach the larger objective of the business.
Namespaces
A namespace is a unique place on-chain that represents the business. So a namespace can be created on the Sirius chain and it resembles the domain name of the internet.
Mosaics
Mosaics imparts flexibility to Sirius chain. Mosaics are contracts that can represent almost anything on the Sirius chain. A mosaic can be a token, can be a collection of specialized assets such as shares, bonds, signatures, votes, etc. Mosaics can be fungible as well as non-fungible token. The unique properties of Mosaics are- divisibility, transferability, supply mutability, etc. These properties enhances the limitations and controls-- as these unique properties will ensure that the mosaics are best utilized for the business needs-- e.g. the supply can be altered to control inflation.
Team
More about Proximax
https://www.proximax.io/
https://bit.ly/2koqP5l
https://medium.com/@proximaxio
https://t.me/ProximaXio
https://twitter.com/ProximaXio
https://www.linkedin.com/company/proximaxio
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