Blockchain technology has been growing for long time now and you can witness several new currencies and digital tokens added to the system. Prior to this, Bitcoin was the only known digital currency that too was known very few people around the world. Now that internet and technology have made their own way, you can see prominent participation in blockchain and decentralized monetary system. Presently, there are hundreds of new currencies for you trade or invest with, which include digital coins, tokens etc. One of such new entity is ProximaX, which recently gained popularity due to its various features. So, let’s understand what is ProximaX in brief.
What is ProximaX?
Unlike digital currencies, ProximaX is developed form of the Blockchain technology and the DLT system (Distributed Ledger Technology). With the implementation of ProximaX, you, as a business or individual, can bypass all the expensive and traceable form of centralized architectures that have higher failure rates. This all in one platform would be able to cater secured services, storage, media services and content delivery.
ProximaX can also be taken as an advanced level API (Application programming interface) driven public and private blockchain protocol. ProximaX provides you with several layers of services, which include messaging, decentralized storage, and streaming content delivery. The platform also encourages contributors to the decentralized system with Native coin (XPX) and consensus protocol.
What is the need of ProximaX?
ProximaX is a simple platform that offers to provide everything that you do over internet, but with decentralized functionality. Looking at the current scenario, you may find most of the internet applications consisting messaging services, media services, database, storage and many streaming service. However, these services are being monitored and controlled by a few organizations, which are mainly the service providers. Also, this whole infrastructure may be approaching to its saturation and getting more expensive with time.
It is not the first time that a technology is looking after the concern and some of early blockchain systems have tried to address the same. However, they implied decentralization, but they were too complex to understand, insecure, costly and were unscalable to fill the gap between the expected and real-world situations.
ProximaX, on the other hand, aspire to solve these problems by implementing eco-friendly P2P internet protocols, distributed ledger technology, and readily executable API based architecture that let DApp (decentralized application) researchers to deploy and organize their solutions. ProximaX merges consensus algorithm, blockchain, streaming services, messaging and storage to form an all in one platform for a bigger multi industry and decentralized application development.
Overall, ProximaX evolves and reimagines the blockchain technology through its advanced extension and Distributed Ledger Technology (DLT) that deliver best in class services and follow protocols. Also, one of the best answers to What is ProximaX is that it is going to develop a platform for a wider multi-industry application and decentralized application development. If you know some cool facts about ProximaX and wish to share, do let us know in the comments below.