‘Data’ is often said to be the new oil, the raw material that would drive the machines of the post-globalization era. The role that once coal had played in catalyzing the industrial revolution, data is playing a similar role w.r.t. the technological revolution. This technological revolution has been further advanced with the advent of blockchain technology, bringing in the decentralization of the data. Blockchain needs a platform where different functions can be carried out on the same platform, like storage, exchange, contracts and so on. It should make good use of the newly available technologies in blockchain and ProximaX claims to be one such platform.
ProximaX is a robust integration platform that aims to carve a niche for itself among various other platforms developed for blockchain with its Distributed Ledger technology. It intends to provide smart contracts, Software Development Kits (SDK), scalability, and tries to “integrate service layers outside the chain, data storage, transmission, and database” that can be coalesced effortlessly with traditional centralized structures. The platform has been named ProximaX Sirius and offers easy adoption, smooth integration, speed, profitability, security, and flexibility. It can cater to the needs of the companies who are a novice in the use of blockchain technology by providing development and integration packages as well as serve the developers who are old players in this field.
ProximaX also provides quick transmissions and large data storage with security, transparency, traceability, and ProximaX Sirius could be used for different projects with all of them being fully integrated. The latter is a variant of the NEM chain known as Catapult, and its primary function is the integration of various decentralized technologies with blockchain acting “as the core of tokenomy”. The platform thus creates a base where the chief services of the ProximaX project can operate.
It has a stratified structure that is linked to each other and thus can enable the development of different types of projects, being “integrated with database, transmission and storage layers distributed outside of the peer-to-peer chain”. These find an overlapping similarity with the SDK in many programming languages like Java, Python, Swift, Rust and so on, which facilitates developers in making easy applications.
ProximaX Sirius combines Blockchain storage and Database Consensus which forms the core of the development platform, which has also incorporated some advanced features in it called the Supercontracts. The ecosystem is centered around blockchain, storage, and streaming nodes as they work in an integrated manner to provides a secure platform. It uses Catapult and the blockchain layer feeds the requirement of the different layers of the ecosystem and supplies the data source in order to link the other layers in a public or private environment.
The storage layer uses a Distributed File Management System (DFMS), which in turn connects it directly to the blockchain layer, though, both use different nodes, each performing its own function. The platform uses the Peer Stream Protocol that offers real-time messaging, safety, efficient performance, anonymity to users, end encrypted video streaming.
ProximaX also has its own token called XPX which is used for payment of transactions in the public blockchain and provides a stable currency to users. ProximaX with its multi-layer consensus protocols, obvious benefits of lower costs, scalability, guaranteed security, transparency, and speed, user convenience is certainly on its way to bring in the new era of the blockchain of things.