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Hello and welcome to this blog post about Axion AXN White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Axion AXN white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Axion AXN.
I can ensue you that, you will be able to understand every bits and pieces related to Axion AXN after going through the Axion AXN white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Axion AXN White Paper
Axion AXN white paper will be going to provide you, all the information that is needed to get started with Axion AXN, including the inspiration for creating, the problem it is trying to solve and the solution proposed by Axion AXN white paper.
Introduction
In the last few decades, adoption and growth of financial technology (FinTech) products and services have increased in a rather substantial and secular fashion – into the multiple trillions of dollars of market capitalization. FinTech is both the innovative technology, and the industry in which new financial service-based applications, business models, processes and operations, and products are created and utilized by corporations, entrepreneurs, and consumers.
The digitization of financial instruments has proven to be ever more useful and prominent in more recent times, due to the global pandemic of ~2020-2021. Two examples of accelerated growth in FinTech services throughout the pandemic include the digitization of payments and otherwise conventional financial services being delivered digitally. From being unable to visit local bank branches in order to make deposits to obligatory work-from-home requirements, more often we see consumers and clients utilize services that are entirely digital.
The emergence of blockchain technology has demonstrated disruption in centralized economies by introducing decentralized economies of scale, transparency, and of user control. The introduction and rise of Bitcoin illustrated the strength of distributed ledger technology (DLT) by showcasing and retaining immutable data and an unprecedented level of security on the blockchain – thus reducing fraud and maintaining global accessibility in a digital payments system; cryptocurrency. Beyond Bitcoin there exist other blockchains and cryptocurrencies, most notably Ethereum – another decentralized, global ecosystem that not only introduces digital money and worldwide payments, but applications as well.
Building upon the foundational layers of financial services, systems, and blockchain technology has brought forth one of the most substantial and innovative growth economies on the Ethereum network – decentralized finance (DeFi). These particular applications utilize cryptocurrencies to offer a new paradigm in typical banking systems and products like lending, private payments, and earning interest. DeFi had amassed over USD $39.11B on March 1st, 2021 from just roughly USD $1.01B exactly one year prior, exhibiting an exponential 39x growth in Total Value Locked (TVL).
Enter Axion. Axion is a decentralized finance application and network that is designed to increase the purchasing power of its ecosystem participants through providing a mathematically viable interest accrual model (through inflation) in its platform, executed via blockchain smart contracts.
While Axion provides ecosystem participants (stakers) with interest paid in its native digital token AXN at the end of mutually agreed upon staking period(s), it also utilizes Bitcoin’s liquidity on the Ethereum network by awarding tokenized Bitcoin (wBTC) to stakers in the form of liquid dividends. Axion’s “staker” class can earn and spend tokenized Bitcoin globally, efficiently, and with trust and integrity on the blockchain, with the amount of both dividends and interest earned based on the aforementioned share rate that individual users have accrued by staking.
axion-whitepaperTo get more details about Axion AXN: Axion AXN
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