What is Vexanium?
Vexanium is the first public blockchain project in Indonesia that has its own blockchain technology platform. It is commonly called "mainnet", which means developers/programmers can create their decentralized applications (Dapps) with Vexanium. Dapps itself is a new type of application that uses blockchain technology as its base. DApps exists as a decentralized network run by users without central control or potential failure. It means that, when users use the application, they don’t have to give their personal data to companies that can misuse their data.
As we all know, blockchain has its own strength compared to a centralized network. It is a decentralized database technology that can store data in a secure, transparent, and immutable ledger. With its unique capability, blockchain has shown a lot of benefits & potential for various industries, such as financial, public services, retail, logistics, manufacturing, and many other industries.
Those traits made Vexanium focuses on developing the use of blockchain in Indonesia. Because with its 264 million population, increasing income per capita, mobile, and internet penetration, Indonesia is predicted to be the 4th strongest economy in 2030. Indonesia has tremendous potential for blockchain application and use cases. With that, Vexanium makes sure that blockchain technology will be easily accessible and applicable to improve various industries in Indonesia.
As the latest generation blockchain, Vexanium has several advantages compared to the previous generation blockchain. Vexanium can accommodate more than 2000 TPS (transactions per second), while most blockchain platforms can only accommodate 10 to 100 TPS. This makes Vexanium is more suitable for retail use and dealing directly with consumers or users. Vexanium also does not charge transaction fees, unlike most blockchains platform. Vexanium uses a resource model fee, where users just need to stake some VEX to rent bandwidth on the Vexanium blockchain. It can also be released back again if they want to.
Vexanium also uses the DPoS (Delegated Proof Of Stakes) consensus which means we will prioritize scalability and network performance by using block producers. It will also be able to update contract codes that are inappropriate or the incorrect one without involving a hard fork. On the hard note, programmers don’t have to worry much too when creating a smart contract using Vexanium blockchain, as Vexanium use C++ programming language that is easier to understand and use.
