ProximaX NOW 1 What is ProximaX? Technology


Hi! You can call me Eugene K. Nice to meet
in the first video on ProximaX Now channel. Now let’s begin from the start. Today’s very
first topic is what ProximaX is. And today we will talk about the ProximaX technology
basics First of all, ProximaX is about distributed
ledger, decentralized storage and even more. Blockchain reimagined and evolved – this is
how ProximaX core team call their technology. What is blockchain is? I hope that visitors
of this channel are enough aware of this beautiful technology itself.
But if not – make a comment and I’ll care about underserved questions in the future
videos. Let’s dive in the history for a while!
A lot of blockchain enthusiasts call blockchain as the biggest technology revolution since
world wide web appearance. And here in the development of blockchain tech we already
got a few disruptive leaps as: In 2008 – the event of creation of Bitcoin
– the biggest phenomenon of real use of blockchain even till now, the case of independent, immutable
e-money, true digital cash. The next revolution comes in 2013 with immutable
pieces of code that are smart contracts. The code that once was deployed into the special
blockchain network will operate forever. The most famous and successful network was created
by Ethereum – the whole platform till now is quite applicable to create smart contracts
and even decentralized applications. ProximaX regards newer technologies like NEM
and NXT like more successful because of partial avoidance of immutable code, more usability
features and improved consensus algorithms who came to replace the old proof-of-work
based ones (if you know all that mining farms stories which are still actual for Bitcoin
and Ethereum stories). So, now we have so-called blockchain version
2.5 NEM Catapult technology that is multi-purpose and highly scalable as never was before. Unfortunately,
we still don’t have a working public network Catapult solution. But now ProximaX is trying
to make steps further. In public blockchain networks we have a large
problem that we should care about: you can’t store multimedia files there, you
can’t upload/download some big files – that videos, modern photos, big data. You can’t
operate large software inside the blockchain. You can hash, notarize the document in any
blockchain (NEM, Ethereum and even Bitcoin) but you can’t upload it into some safe place.
And if the document lost – your blockchain notarization will not have any sense.
So, before design the idea ProximaX team had been thinking about it for a while and then
met another company ñ PeerStream. Proxima asked them guys to deliver the service-layer
enriched platform with decentralized document proofing and storage, messaging, and streaming
content delivery – that blockchain element solutions that was still missing before. And
then ProximaX ideas became what they are now. What actually ProximaX is now? More precisely
call it ProximaX Sirius – the name of a platform or the solution and ProximaX is the name of
the organization behind it. ProximaX Sirius is a new-generation distributed
technologies solution that technically contains of a set of layers that could unveil its wide
functionality. ProximaXís blockchain layer is a forked version
of NEMís private version of the Catapult blockchain.
Catapult provides a good set of functionality, speed and safety features that covers even
more than all existing blockchain cases and easiest to work with, as a developer. Blockchain
layer binds all the layers being the centre the core of whole ProximaX network. So, first
of all you can use this network as a blockchain with rich functionality, but not limited by
simple blockchain using. The storage layer is a network that is able
for storage sharing. Each node in this network can provide the
storage to the clients and verify another storage nodes to keep network stable and safe.
All of this based on IPFS technology which is looks someway like in this slide – you
as a single users upload the file and it splits and mirrors to many different places with
a few of copies and then it becomes available for every users connected to this network
and the related content becomes about immutable. ProximaX Sirius streaming layer it’s all about
live content delivering. This one can be used by applications that
need a live streaming function as one of their services.
So, there are two types of streaming. Live streaming is about p2p live connections,
interactions between two or more people. Developers could deploy kind of their own
Skype, Zoom, Telegram services there. Second type is storage streaming – it’s more
close to Youtube, Netflix and another services that provide stored content in high quality
and with proper speed. Enriched with multi layer encryption and onion
routing that ProximaX gives these services will have more security, anonymity and uptime.
Beside this three layers ProximaX Sirius solution consist of API Gateway that represents a wide
runway for development and use cases. The developers will have access to all layers,
connecting them to their applications, some common and popular software, building storage
and streaming application economy models, live audio/video streams ectetra.
So, all these gives you, no matter who you are, a user, a developer, a manager or business
owner a lot of technology advantages: You can do your processes with ProximaX Sirius
fast, cost-efficient You can be sure that your solution is secure,
available 24/7 It’s easy to start work with, it’s easy to
use, it’s easy to configure or change even if you need cross-chain solution.
What I wanted to say else: it’s about consensus mechanism.
ProximaX has whole three ones: Proof-of-stake that will motivate holding
XPX – the core coin of ProximaX Proof-of-storage that will be incentive for
node holders who will response for storing data on their hardware.
Proof-of-bandwidth that will be motivating feature of network for node holders to keep
stream and transfer data fast and constantly. All I know now, that if you want have a node
you need a certain amount of XPX in your network account, you need certain minimum amount of
space for storing network data for a long time and you have to guarantee the certain
proper speed uploading and streaming that data.
I can’t say something more about consensus mechanisms or tokenomics of XPX token, because
now it’s in research as many other cool things which you could track using roadmap overview
– the most promising part left and it’s coming in Q3 and in Q4.
Well, I think it’s enough for you for now. In the next video I’ll tell you about ProximaX
as about organization. If you want to discuss something, for example,
ask questions or for the new video topics – just donít be shy and to type the comments
below. You can call me Eugene K.
ProximaX NOW Thanks for watching!

One thought on “ProximaX NOW 1 What is ProximaX? Technology”

Leave a Reply

Your email address will not be published. Required fields are marked *