BEXAM (BXA) Exchange Offers Proof-of-Rounds Blockchain Consensus Solution
The announcement of BEXAM exchange brought with it a couple of doubters and hopefuls as it completed the first transaction test that the team behind the project claims it can process up to 40 million transactions per second, depending on the number of active users within the network and Master Node count. A single Master Node tested a capability to handle 20,000 transactions per second (TPS).
Decentralized exchanges offers slow transactions…
The current existing decentralized exchanges are considered too slow for business as blockchains continue to take up the market space. The technology offers a cryptographically secure platform for trade but with the speeds and efficiency of these DEx’s still very low performance-wise, it stifles the growth of the industry towards being adopted for real use globally.
The narrative remains the same on the earlier blockchains like Bitcoin and Ethereum, that despite lowering the cost of transactions significantly, they remain generally expensive and slow compared to their peers. For instance, Bitcoin carries out about 7-15 transactions per second while Ethereum carries out 20-30 transactions per second. If we are to rely on these blockchains for global use the transaction speeds need to increase significantly.
Hence the development of the hybrid exchange, BEXAM exchange that combines the centralized system within the decentralized blockchain platform to offer best of both worlds.
The BEXAM hybrid exchange
BEXAM is a new and revolutionary exchange that combines the best parts of centralized and decentralized systems by incorporating a blockchain/DAG hybrid and a new consensus algorithm: Proof of Rounds (PoR). The hybrid exchange aims to increase the processing speed of transactions as they increase the safety of the users’ accounts by implementing the node services in different parts of the globe.
Main Features of the exchange
A system based on a new consensus algorithm (PoR), A circular arranged network of nodes, node hierarchy, An immutable blockchain/DAG hybrid, Security measure against malicious attacks, Multilayered protection of Wallet Node, Master Node ownership program, A native utility token
The BEXAM hybrid exchange is a peer-to-peer system that uses the PoR consensus mechanism through a circular network of nodes across the globe. The main features of the exchange include, a node hierarchy system, immutable blockchain/DAG hybrid, high security measure against malicious attacks, multilayered protection of wallet node, master node ownership program, and a native utility token, BXA.
The BEXAM native token (BAX)
The BEXAM exchange is run by its token, the BXA token that has specific purposes on the exchange. It is yet to be made public with the pre-ICO stage, which will see a total of 150 million BXA tokens set up for sale, expected to start at the end of October. Soon after the close of the pre-ICO stage in November, the BXA token is to be made available through a public sale of 5 million BXA tokens.
The BXA token is a multi-utility token that can be used on the BEXAM hybrid exchange. First, the BXA token is used as transaction fees purposes while trading on the exchange (users get 50% discounts on their trading fees when they use BXA to pay). Additionally, the BXA token is also used during voting and other governance procedures whereby users can vote on issues such as the addition of a cryptocurrency to the exchange for trading.
Users can also earn more BXA tokens by freezing a number of tokens to own a Master Node. Once a transaction is verified through the Master Node, the owner will earn a curt of the transaction fee making it a profitable system.