Hello and welcome to this blog post about Netbox Coin NBX 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 Netbox Coin NBX 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 Netbox Coin (NBX).
I can ensue you that, you will be able to understand every bits and pieces related to Netbox Coin (NBX) after going through the Netbox Coin NBX 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.
Netbox Coin NBX White Paper
Netbox Coin NBX white paper will be going to provide you, all the information that is needed to get started with Netbox Coin (NBX), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Netbox Coin (NBX).
Currently, there are several major well-known web browsers and a few dozen less well-known. One feature is common for them all – a high degree of centralization. These browsers are owned and operated by large corporations, most often commercial ones. These corporations take decisions when developing their products due to commercial reasons aimed at getting benefits.
In these corporations, issues of privacy, personal data ownership, and product development are resolved without the participation of the users themselves, which creates certain concerns among the users. The users do not have a clear idea of what data are transmitted by browsers to the corporate central servers, just like there is no guarantee of lack of breaches.
The Netbox.Browser is an application for PC and mobile devices, the main function of which, in addition to access to web-resources, is to maintain the functioning of the Netbox.Chain blockchain network. The Netbox.Browser is the first web browser that does not have a centralized infrastructure: all personal data of users belong only to them and decisions on the areas of development of the product are made by the community.
The Netbox.Browser infrastructure is completely transparent and distributed, as it is stored without the use of central servers in the Netbox.Chain blockchain structures. An individual address in the blockchain network is assigned to each web browser; this address can store Netbox.Coins – the currency of the Netbox.Chain blockchain network.
The larger the active audience of the web browser is, the faster and more reliable transactions are conducted in the blockchain. All Netbox.Browsers are united in the Netbox.Chain blockchain network. Each browser is a node of this network that stores and confirms the truth of the network blocks. To confirm the truth, the Proof of Stake (PoS) mechanism is used, in which each member of the network (each web browser) can verify the blocks ensuring their truth with a certain amount of the Netbox.Coin currency.
The node receives a reward proportional to the amount of currency issued as a guarantee. To verify the blocks, the Netbox.Chain network shall have as many online nodes as possible. To do this, the Netbox.Chain network encourages the users of the Netbox.Browser working online by charging them fees in the Netbox.Coin currency, proportional to the time of the browsers being online and the user activity in these browsers. Rewards are accrued in each new network block and distributed among the participants.
White Paper Link: Netbox Coin NBX White Paper
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