Emerging Tech Labs (“ETL”) has signed on as ProximaX’s latest systems integrator. As ProximaX’s first systems integrator based in the Middle East region, ETL and ProximaX will be working closely together to market ProximaX solutions in the United Arab Emirates (“UAE”)...
The central bank digital currency (“CBDC”) race has begun. CBDC is electronic, universally accepted, central bank-issued money. Central banks across the globe are undertaking extensive work on CBDC...
ProximaX recently signed an agreement with LOGYCA to develop a platform utilizing blockchain technology to power their Supply Chain Value Network (“SCVN”)...
FAQs — Platform
What is Proximax
Based on the core Catapult blockchain technology, ProximaX Sirius is a next generation platform solution, an Integrated and Distributed Ledger Technology (IaDLT). This IaDLT is an integrated assembly of proven technologies which is a combination of Blockchain-Storage-Streaming-Database System-Consensus. The end result in using the ProximaX solution is a substantial reduction in total cost of ownership, including time to market, and with a superior approach in application design.
The fully decentralised configuration can integrate with peer-to-peer (P2P) off-chain components such as content delivery networks (CDN) and other cloud offerings. This liberates application developers to expand their creativity in building great P2P applications without fear of non-compliance or being vulnerable to attacks.
How does ProximaX work
The ProximaX Sirius platfrom is based on an agglomeration of technologies utilising P2P technology, cryptography science (hash and encryption), distributed file management system, decentralised database, and messaging (video and voice). Together they form a powerful and easy-to-use platform for application and services development.
How can ProximaX be used
ProximaX uses are many, but not limited to, content delivery and storage such as file hosting and sharing services, supply chain management, content creation and the monetisation of such contents, content control, multimedia & message streaming, decentralised marketplaces, Big Data, measurement/analytics, IoT, flawless record keeping and Know Your Counterparty (KYC).
What is ProximaX’s vision
Our vision is to make blockchain relevant by integrating distributed technologies such as database and file management systems, thereby providing a practical holistic platform that is suitable for applications and industries at large.
Is ProximaX just another blockchain
We are more than just a blockchain. We provide a platform solution that includes a blockchain component as a subset in the platform. Hence it is a holistic solution platform.
Is ProximaX decentralised
Since when has the network been up and running
ProximaX has different types of testnets running for different type of nodes. The ETA of mainnet will be Q3-2019 (consensus protocols need to be finished first, including incentives).
Is ProximaX competitive to Ethereum (and all its forks)
ProximaX is not a blockchain per se but rather a platform solution for content, storage, database, streaming and messaging. Ethereum and other blockchain projects, including NEM, have different application scopes that are only pertinent to blockchain technology. We are more than merely blockchain technology.
FAQs — Layer: Application (API gateway)
Will there be an API
Yes, ProximaX will be API driven so developers can use the platform easily. In addition, there will be SDKs that will be available for developers to easily use the platform. Each layer of the platform solution will be available through the SDK.
FAQs — Layer: DLT/Blockchain
Why does ProximaX need Catapult
ProximaX uses a blockchain component in its platform. Currently Catapult serves as the most suitable blockchain component for this platform.
Will all API calls of Catapult be available through the ProximaX application layer
Yes, through our Sirius platform SDK.
FAQs — Layer: Storage
What is the storage layer
It is a Distributed File Management System (DFMS) that is presented as another component on our platform.
What is the cost of the file storage compared with the traditional one
It is expected that cost will be lower than traditional ones such as cloud services because hard disk space will be maximised in its utilisation with our platform solution.
Will ProximaX fork IPFS or will it use existing global IPFS network
We will not use the existing global IPFS because it is required as a component of our platform. In addition, it is a forked component of the IPFS.
How will this affect copyrighted material posted on ProximaX, especially regarding DMCA takedown notices
ProximaX is trying to design a “denylist” for the storage solution and the idea is to block certain data hash that will be sourced or coming from the likes of DMCA takedown notices. We are still in the middle of our research and design. It’s a concern that we would like to address but at this moment we don’t have a solution because this is a decentralised public network.
Are the files on ProximaX encrypted
Yes. When a “PLAIN” type file is uploaded, it will be publicly available. If the file is “SECURED”, the file will be encrypted.
How are the files stored
Files are first split into small chunks of binary codes (shards). They are then encrypted and stored into various nodes. Some of these nodes act as duplication nodes for redundancy. When a file is retrieved from these nodes, they are re-assembled and presented as the original file.
What happens when a couple of nodes are turned off or become inaccessible
The copy of the file will be part of the network therefore if the peer that uploads the file suddenly becomes inaccessible, the files will still be accessible. For higher availability of files, special replicator nodes will be setup in the network. When a file is uploaded to a normal storage node, a trigger will be sent to one of the replicator nodes to download the file. In this case when the normal node gets unavailable/offline, the replicator node has this file.
Is ProximaX a competition to SIA and Storj
Yes and no in that ProximaX is not just a storage solution, it is in fact a development platform. Hence, ProximaX is a superset. Developers can make an app service and offer such a service like Storj or SIA.
FAQs — Layer: Streaming/Messaging
What is the purpose of the messaging layer
The messaging layer is a decentralised platform to build a messaging application like Telegram and WhatsApp using APIs. Technically you could build anything regarding messaging on top of the messaging layer using APIs. This layer is developed by PeerStream.
What is PeerStream (protocol)
PeerStream provides fully secure, end-to-end encrypted protocol for message delivery; based on onion routing model to ensure full anonymity for both communication and discovery processes and streaming layer allowing to anonymously stream multimedia content between parties.
Who is PeerStream (company)
PeerStream (formerly SNAP Interactive) is a NASDAQ-listed computer software and social media company. On 12 March 2018, Snap Interactive, Inc. rebranded to PeerStream, Inc. (OTCQB:PEER). PeerStream is a developer of decentralised technologies for multimedia social apps and business communication.
What could be some of the use cases of the streaming layer
Real-time presence/messaging/streaming/routing so more in the live creator realm or conferencing/collaboration domain.
Is video on demand a function of the streaming layer
No, but ProximaX with the storage layer can run similar to a youtube. So VOD (Video on Demand) is a part of that layer.
How will this affect copyrighted material
The PeerStream protocol will provide App developers with flexible mechanisms to control and manage copyrighted materials. These mechanisms are currently in the very early R&D stage but it’s certainly one of the features that we are keen to implement.
Is end-to-end encryption included
Apps will have to encrypt onion layers, but this all will be covered by the SDK.
FAQs — Layer: Database
Is the database layer working already
The database layer is generally working but the devs are still testing and making sure that all bugs are sorted out.
What is the core of the database layer
We use BigChainDB as core.
FAQs — Layer: Executor/Super Contracts
Is the executor layer working already
The executor layer is in Proof-of-Concept phase and is being tested.
Is it possible to convert a Solidity project to ProximaX easily
There is probably nothing to convert from, and it is much easier to start afresh on ProximaX.
Is it possible to create a decentralised Exchange on ProximaX
Anyone can develop a decentralised exchange on the ProximaX platform. However, we will not develop a decentralised exchange as we do not believe that the P2P technology will be able to support high frequency trades.
FAQs — Consensus
What are the consensus protocols
The consensus protocol consists of Proof of Stake (PoS), Proof of Storage (PoSt) and Proof of Bandwith (PoB). The idea behind PoS is to generate coins from transaction fees without using vast amounts of energy.
What is PoCA
PoCA is essentially a mathematical relationship between PoS, PoSt and PoB and is the basis of node selection. Each node will be enlisted in a reputation system and the PoCA of each node is a variable to the selection process. The more reputable the node is, the higher chance it will be selected to do the job (store, stream or execute).
What is Proof of Stake (PoS)
It is used as a method to solve a block depending on their stake in the market, which allows everyone on the network to have the same reward potential. The idea behind PoS is to generate coins from transaction fees without using vast amounts of energy.
What are Proof of Storage (PoSt) and Proof of Bandwidth (PoB)
Proof of Storage (PoSt) is a method where a single node dedicates a non-trivial amount of disk-space to solve a challenge presented by the service provider. It is very similar to Proof-of-Work (PoW) where instead of computation power, it is storage capacity. PoSt is relevant yet considerably different from memory-hard functions and proofs of retrievability.
Proof-of-Bandwidth (PoB) is a consensus mechanism where multiple oracle verification will be used to report and validate P2P nodes’ bandwidth contribution to the network.
FAQs — Tokens (XPX/XAR)
What is ProximaX's native coin
ProximaX native coin is XPX. XPX has no security instrument tied to it and is a consumptive or utility cryptocurrency whose value is determined by market demand and supply.
What is the purpose of the XPX token
XPX is the native currency on the ProximaX platform where it will be used as a utility token to subscribe to the services offered by application service providers.
What is ProximaX's Economic Model
ProximaX aims to develop a dynamically-configurable economic model based on periodic, monthly or annual subscription. When this is realised, ProximaX users will be able to use the XPX native tokens to subscribe to services.
How many XPX are there
Total XPX token supply is 9 billion.
How do the developers get a stable revenue/income
We have 2 tokens – XPX and a stable coin. Both of which can be used to avail platform services. When one is availing a storage (for example) for their apps, they need to pay XPX for the services depending on the revenue model that was set by the storage host. The fee is split to different actors on the system including verifiers and the blockchain validators.
The monthly subscription setup will be set by the service provider that uses ProximaX. So it’s not really ProximaX that will define the revenue model but the service providers and the resource (storage, streaming) providers.
In terms of adoption, there is an economic play on this. Aside from just launching mainnet out there, we need to look at supply and demand.
The concept is, when one avail a storage or streaming service, the network will also look at location of the node (this is also part of PoCA). There needs to be resource providers and users. You can’t have a location where everyone is a resource provider and no users because no one is going to earn.
So part of the strategy is to make sure there are ProximaX hosted resource in a region + community/public hosted nodes and at the same time, we push for development and business opportunities so that we can develop apps that will use the resources located in the given area.
Supply and demand balance out.
What was the ICO price
How long will my KYC data be stored
Why is my KYC data stored for multiple years
Due to anti-money laundering rules, KYC is required to be stored for a set period of time.
FAQs — Applications (KYC/Vault/etc)
Is there a special client being built for ProximaX (an all-in-one client)
Building for an all-in-one client per se is not part of ProximaX’s plan but simple services can be incorporated into the wallet. The ProximaX’s platform shall have easy-to-use APIs and SDKs for Apps to be developed upon.
What languages do I need to learn as a developer if I want to use ProximaX
You only need to download the right SDK (Go, C#, Typescript, etc) to start using the ProximaX platform. One of the main goals of ProximaX is to create an easy-to-use platform for developers.
Are there any applications developed by ProximaX
- ProximaX File it! (Dropbox-like)
- ProximaX Vault (Keepass-like)
- ProximaX Notes
- ProximaX Forms
- ProximaX KYC
- ProximaX Suite (ProximaX Suite is a complete end-to-end office application that sits on top of the cloud, backed by our secured infrastructure service of Catapult and DFMS)
For more information please read the Tech updates at https://blog.proximax.io/tag/tech/
Get in Touch
To find out more about how our products can benefit your organization, or if you are interested in becoming a technology partner or ProximaX systems integrator, please leave us your details and we will get right back to you.Contact us via email