ProximaX is a blockchain-based platform spearheaded by the NEM.io foundation to address the primary challenge of a lack of a serviced and decentralized structure for document proofing, storage, streaming content and message delivery. The platform will incorporate the NEM blockchain, Catapult platform and the utility token, XPX, to ensure an eco-friendlier technology with P2P internet protocols and integrated API-driven architecture.
Consequently, that will allow for decentralized application developers and business to build and deploy more solutions. The Native coin also features a consensus protocol that will facilitate the transaction through the decentralized network.
The Essentials Of ProximaX
The ProximaX platform is a peer-to-peer protocol that will enable the user to utilize the NEM technology (Catapult technology) to function as a blockchain for anyone to join and participate. The DApp developers will have the freedom and flexibility to come up with their app designs and monetize their use through the economy models configured to facilitate such endeavors. Furthermore, the ProximaX platform will also allow for the developers to use the SDK to abstract the ProximaX protocol into a more dynamic layer making the DApp protocols more unique and far from a central authority.
How ProximaX Works
ProximaX will comprise of on-chain and off-chain protocols with service layers for the development of more decentralized services and applications. These decentralized applications will feature on
- File sharing: seamless and secure sharing of files and that between users without any issues regarding trust or safety.
- File hosting services: the ProximaX private mode network forms a decentralized platform for file storage and sharing by clients. That is in line with the need for synchronization and organization of the files across multiple portals within a private environment.
- Content management: the Consensus protocol allows for a more open platform where users can flag, remove or report inappropriate content by down voting the content.
- Content monetization: ProximaX developers will get rewards from their content through the subscribed viewers
- Security: Secure multimedia streaming for content viewers by using the Peer Stream protocol.
- KYC protocol: to help protect against cases of fraud and manipulation within the network
How ProximaX Could Prove Beneficial
The ProximaX platform will fault the challenges we experience with building a single component to connect all servers in distributed databases. As such, some advantages do come with removing the central entity. The best outcome is the outcome will have a minimal effect on the performance of the overall performance of the ProximaX system. Here's how ProximaX could make a difference
- Improving integrity and value of the decentralized application markets
- The anonymity of ProximaX users to ensure security and privacy
- A sustainable marketplace where participants can enjoy sustainable and secure service offerings.
- Eliminating costly intermediaries through the decentralized structure
- A flexible network that will breed all the NEW technology, protocol and cryptocurrency
Is ProximaX A Viable Project?
The ProximaX platform is a brainchild of the NEM.io Foundation, which is one of the most successful blockchain funding projects for the NEM blockchain technology. Consequently, this is an indication that the platform has a long way to go. Already the NEM blockchain technology is already in use in several institutions and industries within the financial world. And with more industries relying on decentralized computing, ProximaX could prove essential in helping firms keep up with the pace of use and connectivity.