BLOX - The Backbone of PEG
Last updated
Last updated
BLOX is a Decentralized Autonomous Organization based on an Algorithmically Managed implementation through the BLX2 Asset Agreement feature (aka Smart Contract Protocol). IN MAY 2022, BLOX DAO closed seed funding of US$12.5M in support of its globalization efforts.
Consisting of 100,000,000 minted BLOX Asset Agreement (Tokens), represents the total amount of stakes available for the complete ownership of the BLOX Organization.
BLOX earnings are received through the Asset Agreement (Smart Contract) and Power Fee (Gas Fee) revenue in real-time.
Visible through a BLX2 customized blockchain ledger, https://explorer.BLX.org/BLOX provides the current and transparent shareholder view of its members/participants/owners including the total BLX revenue disbursed instantly for each member/participant/owner.
No restrictions are applied to disburse BLX earnings to any member/participant/owner in order to trade/exchange/sell BLX rewards upon receipt.
The BLOXChain is the Public Distributed Ledger Application recording all BLX transactions in chronological order. All block rewards and transfers are permanently logged based on two consensus mechanisms – Proof of Transactions and Proof of Work. A consensus mechanism is a set of protocols that control the validation of blocks within a network or group of nodes.
BLX2 Asset Agreement applies the ”Proof of Stake” (PoS) protocol via BLX Crypto (acquired through mining or buy/sell/exchange) for a permissionless implementation of assets. The implementation itself, is a minting process consisting of two components; “Asset Key Generation” and “BLX Power” whereas, a BLX holder can mint and release a secure crypto asset within the Bloxchain network.
BLX DID Format is as follows for DAO Chain Library:
Index Title: BLX AAID: Key
Index Summary: BLX Asset Agreement ID: Asset Key
Submission Format: DID:BLX-AAID: Key
Result (Resolver): did:blxaaid:assetkey
Library Reference: DID Search = Asset Key (alphanumeric + QR Code + Chain Link)
Asset Key Generation is activated through a crypto transfer process in the amount of 1,000 BLX coins
An encrypted Asset Key is then issued to enable provisioning of a new decentralized asset with a specific amount that allows Bloxchain network accessibility
BLX Power (AKA Gas Fee) is a sustaining BLX balance to allow the newly minted assets to transact within the Bloxchain network with a fee of 0.0001 BLX coins per transfer
BLX88 is an NFT Asset Implementation Protocol is a 1:1 Asset Agreement (Smart Contract) value to create encrypted digital media assets whether by image, video or gaming.
https://wallet.blx.org – BLX balance required
”Asset Agreement” > ”Add”
“Asset Agreement Set-up”
Select “Media Asset”
Asset Creation >
“Send” 1,000 BLX Fee
Generate Asset Key: (Asset key required to activate Asset Agreement (Smart Contract)
Enter Asset/Details: Upload Asset | Asset Name | Asset Symbol | Quantity = “1” | Description Optional: “config file” upload
VERIFY and ACTIVATE Smart Contract (Enter Asset Key Generated (Step 2)) to activate Asset Agreement
IMPORTANT:
Asset Details CANNOT be modified once confirmed.
SAVE and SECURE Public and Private Keys immediately. Private key is required to create and implement Asset.
6. Maintenance: 0.0001 Power Fee Auto-deduction per/Txn to operate/function on Bloxchain. Ensure BLX wallet has sufficient balance. Zero balance = No Asset Function
Reference: http://blx.org/AAI.html
BLOX architecture is composed of:
Genesis servers for cryptocurrency or crypto-asset release
Network node for mining cryptocurrencies
Wallet server
Ledger server which serves as the blockchain or ledger system
Through this architecture, BLX can implement centralized and decentralized crypto-asset products, along with the full exchange of digital and traditional assets within the same blockchain.
The BLX Cryptocurrency can be stored online (Hot Storage) or off-line (Cold Storage). Unlike other cryptocurrencies, BLX cold storage methodology is truly off-line using a “Blockchain Exit” process. Alternatively, it can return to hot storage for online access following the “Blockchain Return” protocols.
Cold Storage is a 100% offline application utilizing a combination of AEXS-256, AES-128, SHA-3 Encryption Algorithm as *.BLX file format in the device where the mining occurs
Initiating Cold Storage (Blockchain Exit Reward): Proof of transaction is posted on the Blockchain after verification / confirmation of 8 to 10 nodes earning 0.0001 BLX Rewards for each node
Hot Storage Recover (Blockchain Return Reward): Proof of transaction is posted on the blockchain, after 10 nodes verify / confirms the BLX return to the Blockchain earning 0.0001 BLX Reward for each Node
The Blockchain Exit and Return of the BLX Cryptocurrency is comprised of 5 steps from the user dashboard.
Similar to BLX, Smart Contract Asset needs is selected to initiate Blockchain Exit and Return of the BLX Cryptocurrency is comprised of 6 steps from the user dashboard.
