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About Naxion
-
Launch Date:
March 31, 2021 -
Consensus Algorithm:
Proof-of-Work (PoW) -
Native Utility Token:
NXN -
Total Mining Amount:
29,320,000 NXN -
Naxion Team Holdings:
approximately 7.97 million NXN -
Lock-up Schedule:
- 15% released to market
- 50% release on July 7, 2024
- 75
About Naxion Capital
Introducing Naxion (NXN): A Revolutionary Cryptocurrency
Launched by a Korean project team on March 31, 2021, Naxion is a decentralized application platform meticulously designed to facilitate seamless smart contract execution and enable intuitive web-based app usability. The network operates on a robust Proof-of-Work (PoW) consensus algorithm. NXN, the native utility token, serves as the primary medium for settling gas fees associated with transaction processing and data storage.
Unveiling the Uniqueness of Naxion
What sets Naxion apart is its ability to transcend the limitations of Proof of Work (PoW) while remaining true to the fundamental principles of PoW blockchain. By adopting the PoW method that most authentically embodies decentralization, Naxion also incorporates its proprietary secure node technology, enabling transaction processing at speeds comparable to Proof of Stake (POS) methods (up to 1500 TPS). Furthermore, it features a cost-effective gas fee structure. The combination of rapid speed and low-cost gas fees has made it possible to establish an independent network ecosystem without relying on a separate Layer 2 solution. Notably, Naxion is also environmentally friendly, as it prevents access to Application-Specific Integrated Circuit (ASIC) miners without a node, thereby eliminating unnecessary power consumption beyond what is required for node operation.
The Circulating Supply of NXN Coins: A Closer Look
As I do not have the necessary permissions to access Google Docs, I will provide approximate figures for the coin circulation amount.
Naxion has generated approximately 5,864,000 blocks since the genesis block was created on March 31, 2021, with a block time of approximately 5 to 7 seconds. The network’s structure is designed such that 5 NXN are mined for every 1 block created. Currently, the total mining amount stands at 29,320,000. As a public network, Naxion allows anyone to participate in the project by opening a node, joining the network, and receiving NXN as a reward. Consequently, it is challenging to accurately determine the market circulation volume.
Notably, if we narrow our focus to the Naxion team, comprising founders, partner companies, advisors, and the development team, the team’s collective coin holdings amount to approximately 7.97 million. These coins are slated for sequential release and distribution in the market, with the lock-up period set to expire on July 7, 2026. Currently, 15% of the team’s stock has been released into the market, with 50% scheduled for release on July 7, 2024, 75% on July 7, 2025, and the remaining 100% on July 7, 2026. For further details, please refer to pages 25-27 of the white paper linked below.
Naxion: A Revolutionary Digital Asset
Naxion, a cryptocurrency launched by a Korean project team on March 31, 2021, operates as a decentralized application platform, facilitating the seamless execution of smart contracts and web-based applications. The network is underpinned by a Proof-of-Work (PoW) consensus algorithm, renowned for its inherent decentralization benefits. At the heart of this ecosystem lies NXN, the native utility token, primarily utilized to settle gas fees associated with transaction processing and data storage on the network.
A distinguishing feature of Naxion is its innovative approach to transcending the limitations inherent in Proof-of-Work (PoW) systems, while remaining steadfast in its commitment to decentralization. By incorporating proprietary secure node technology, Naxion achieves transaction processing speeds comparable to those of Proof-of-Stake (PoS) methods, boasting a maximum throughput of 1500 transactions per second (TPS). This groundbreaking innovation enables Naxion to offer rapid transaction speeds and low gas fees, eliminating the need for a separate Layer 2 solution, thereby fostering a self-sustaining network ecosystem. Furthermore, the network is deliberately designed with eco-friendliness in mind, restricting access to Application-Specific Integrated Circuit (ASICs) and thereby minimizing unnecessary power consumption, ensuring that energy usage is limited to what is strictly necessary for node operation.
Since its inception, Naxion has successfully generated a staggering 5,864,000 blocks, boasting an impressive block time of merely 5 to 7 seconds. Notably, each newly minted block yields 5 NXN tokens, resulting in a cumulative total of 29,320,000 NXN mined to date. The network’s inherently public nature enables anyone interested to seamlessly establish a node, integrate into the network, and reap NXN rewards, thereby rendering it challenging to accurately determine the exact volume of NXN in market circulation.
The Naxion team, comprising founders, partner companies, advisors, and the development team, collectively holds approximately 7.97 million NXN tokens. A structured lock-up schedule has been implemented, outlining a gradual release of these tokens into the market, culminating in a complete release by July 7, 2026. Currently, 15% of the team’s holdings have been released, with 50% slated for release on July 7, 2024, 75% on July 7, 2025, and the entirety by July 7, 2026.
It is essential for individuals to undertake exhaustive research and carefully deliberate on various factors prior to engaging with any cryptocurrency project.
Naxion’s Security Framework: A Robust Defense Mechanism
Naxion adopts a multifaceted approach to safeguard its network, combining cutting-edge technological innovations with operational excellence to ensure the integrity of users’ data and transactions. At its core, the platform harnesses the power of decentralized server architectures, which inherently mitigate the risks associated with centralized points of failure, thereby bolstering the network’s resilience against potential attacks. This decentralization is a fundamental tenet of blockchain technology, significantly contributing to the robustness, reliability, and overall fortitude of Naxion.
Notably, Naxion’s robust security framework is further reinforced by the implementation of AES 256-bit encryption, a formidable cryptographic standard renowned for its exceptional strength in safeguarding data against even the most sophisticated brute-force attacks. This globally recognized encryption protocol is widely employed to protect sensitive information, ensuring an unparalleled level of security and confidentiality.
Beyond its foundational security measures, Naxion incorporates a range of innovative features specifically designed to fortify user interactions and data within the ecosystem. The platform offers a trio of advanced security tools, including Secure Fetch, Private Share, and Advanced Security, each providing an additional layer of protection. These features are meticulously crafted to ensure that users can engage with the platform and interact with one another in a secure environment, thereby minimizing the risk of unauthorized access and data breaches.
The platform’s dedication to security transcends these safeguards, integrating smart contracts and decentralized finance applications that adhere to transparent and immutable tenets. This not only bolsters the security of financial transactions but also guarantees the integrity of the applications built upon the Naxion platform.
Integral to Naxion’s robust security framework are staking mechanisms and a secure digital asset wallet. By incentivizing participants to prioritize the network’s well-being and security, staking plays a pivotal role in maintaining network integrity. Meanwhile, the secure wallet provides users with a reliable and trustworthy means of storing and managing their digital assets, thereby reinforcing Naxion’s comprehensive commitment to security.
It is crucial for users to undertake thorough research and gain a comprehensive understanding of the security features and safeguards implemented by any cryptocurrency or blockchain platform before engaging with it.
In What Ways Will Naxion Be Utilized?
Naxion constitutes a multifaceted platform within the decentralized finance and digital assets landscape, primarily designed to facilitate seamless interactions with smart contracts and enhance the usability of decentralized applications on the web. The network operates on a Proof-of-Work (PoW) consensus algorithm, thereby ensuring a decentralized and secure environment for transactions and data storage. At the heart of the ecosystem lies NXN, the native utility token, which plays a pivotal role in facilitating transactions and data storage on the network by covering associated gas fees.
One of Naxion’s standout features is its ability to transcend the limitations inherent to Proof-of-Work (PoW) blockchains, all while upholding the principles of decentralization. By leveraging its proprietary secure node technology, Naxion achieves transaction processing speeds akin to those of Proof-of-Stake (PoS) systems, boasting an impressive 1500 transactions per second (TPS). Furthermore, its cost-effective gas fee structure ensures efficiency and affordability, thereby enabling Naxion to establish a self-sustaining network ecosystem, obviating the need for a separate Layer 2 solution.
Furthermore, Naxion prioritizes eco-friendliness by restricting access to ASICs, thereby minimizing unnecessary power consumption beyond the necessary requirements for node operation. This approach not only conserves energy but also fosters a more sustainable and environmentally conscious blockchain ecosystem.
Beyond its pivotal role in facilitating smart contracts and transactions, Naxion also presents a lucrative avenue for generating passive income through staking. By staking NXN tokens, users can reap rewards, rendering it an appealing proposition for those seeking to accrue passive income within the cryptocurrency realm.
Naxion’s infrastructure is further enriched by its synergy with FractonX, a pioneering NFT financial infrastructure. This integration enables the fractionalization of NFTs into ERC-20 tokens, each backed by a proportion of the original NFT. This innovative mechanism unlocks new pathways for trading and price discovery in the NFT market, harnessing stateless-centric smart contracts to transform the way digital assets are interacted with and traded.
As with any investment in the crypto space, it is crucial to undertake exhaustive research and carefully weigh the attendant risks. Naxion’s pioneering approach, which synergistically combines the benefits of Proof of Work (PoW) with rapid transaction speeds, minimal gas fees, and environmentally sustainable practices, while also offering the potential for passive income through staking and innovative NFT financial infrastructure, firmly establishes it as a notable project in the realm of decentralized finance and digital assets.
What pivotal milestones have shaped Naxion’s journey?
Naxion has traversed a trajectory of notable milestones since its inception, underscoring its remarkable evolution and growth within the blockchain ecosystem. Commencing with its inaugural launch in 2021, Naxion emerged as a decentralized application platform, underscoring its dedication to fostering smart contracts and elevating web usability. Its foundation is anchored on a Proof-of-Work (PoW) consensus algorithm, a linchpin for its seamless operation and efficient transaction processing.
One of the cornerstone aspects of Naxion’s journey was its ability to overcome and mitigate the inherent limitations commonly associated with Proof-of-Work (PoW) mechanisms. By seamlessly integrating secure node technology, Naxion achieved transaction processing speeds comparable to those of Proof-of-Stake (PoS) systems, boasting an impressive maximum throughput of 1500 transactions per second (TPS). This groundbreaking innovation not only facilitated expedited transactions but also ensured a cost-effective gas fee structure, thereby promoting a more efficient and economical network ecosystem. Such advancements enabled Naxion to foster a self-sustaining, independent network ecosystem, obviating the need for auxiliary Layer 2 solutions. Furthermore, its approach to node operation emphasized eco-friendliness by deliberately limiting access to Application-Specific Integrated Circuit (ASICs), thereby significantly reducing unnecessary power consumption beyond what is essential for node functionality, thereby minimizing its environmental footprint.
In terms of tokenomics, Naxion has introduced its native utility token, NXN, which plays a multifaceted role within its ecosystem, notably compensating for gas fees associated with transactions and data storage. Since the network’s inception, a structured mining process has been in place, thereby contributing to the circulation of NXN tokens. The distribution strategy for NXN tokens involves a phased rollout to the market, ensuring a gradual and controlled supply influx until July 2026, thereby maintaining a delicate balance between token availability and ecosystem stability.
Notable milestones in Naxion’s timeline include its successful listing on a prominent global cryptocurrency exchange and the implementation of a highly effective airdrop event, both of which significantly elevated its visibility and accessibility to a wider audience. These achievements, combined with its cutting-edge technological innovations and strategic token distribution, demonstrate Naxion’s unwavering commitment to developing a scalable, efficient, and user-centric blockchain ecosystem.
As with any venture into the realm of cryptocurrency, it is imperative that individuals undertake exhaustive research and carefully weigh various factors before participating. The inherently volatile nature of blockchain technology and digital assets necessitates a prudent and informed approach to engagement and investment in projects like Naxion.