Hello and welcome to this blog post about ChainX PCX 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 ChainX PCX 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 ChainX (PCX).
I can ensue you that, you will be able to understand every bits and pieces related to ChainX (PCX) after going through the ChainX PCX 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.
ChainX PCX White Paper
ChainX PCX white paper will be going to provide you, all the information that is needed to get started with ChainX (PCX), including the inspiration for creating, the problem it is trying to solve and the solution proposed by ChainX (PCX).
“ ChainX’s PoS Consensus pioneers the asset mining model One Asset One Vote, which measures the mining power based on the market value of BTC, ETH, EOS and other assets from users﹂ inter-chain deposits, and uses Bitcoin﹂ s model to gradually halve the output to distribute PCX fairly
Polkadot is a project initiated by the Web3 Foundation and designed and developed by the Parity team led by Ethereum’s former CTO, Gavin Wood. Polkadot is committed to enable communication among chains to achieve blockchain connectivity, multi-chain coexistence, and to solve the problems of scalability and diversity.
Polkadot has developed a chain framework, Substrate, which enables hybrid PoS consensus, on-chain-parliament governance, Wasm virtual machine, smart contract execution, and efficient light client protocols.
Many chains including Ethereum 2.0 Shasper are operating on this framework. Users can connect all kinds of digital assets they hold with ChainX. DApp within-the system exchange can meet the trading needs of these assets on the one hand, and also generate fair value for mining market.
The Web3 Foundation and ChainX are strategic partners, which will allow ChainX to use Polkadot’s PoS Consensus and Contracting Technology to build the upper-tier facilities for inter-chain assets, while Polkadot will focus on inter-chain communication and the underlying facilities.
ChainX is launched first to integrate existing digital assets across the chains to warm up the Polkadot ecosystem, and when Polkadot goes live, ChainX will be able to transfer existing assets to the Polkadot network while providing various services to new assets in the Polkadot network.
ChainX will try to adopt the most decentralized light node method to integrate mainstream digital assets, including BTC, ETH, ERC20, EOS, ADA, ZEC, etc., cultivating community habits of inter-chain asset transfer and good developer atmosphere, and incubating DApp based on the latest smart contract technology.
Substrate only provides the most basic chain framework and a great amount of improvements need to be made to achieve the above features, including multi-chain light node bridge, witness bridge, special incentive models, multi-chain asset trust tools, multi-platform wallets and blockchain browser.”
White Paper Link: ChainX PCX White Paper
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