We have done a lot of AMAs, this is where we round up the most impressive questions and answers.
- What inspired the founding team to create Canxium, and what sets it apart from other blockchain projects?
Although blockchains are decentralized, the total supply and emission roadmap are determined by one or a group of people. Combined with a limited and scarce supply, this has led to very high volatility in the market, which overall creates uncertainty and makes it difficult to adopt cryptocurrencies in everyday life. Today’s cryptocurrencies are created without following the laws of supply and demand of the market, which are inspired us to create Canxium to change that and also sets Canxium apart from other blockchain projects. In Canxium, no one will control the coin’s supply or emission roadmap, everything follows the law of supply and demand — a fundamental concept of economics and a theory popularized by Adam Smith in 1776
- Can you explain the concept of demand-driven blockchain and how Canxium implements this approach in its ecosystem?
At the core of Canxium lies its unique mechanism of Demand-Driven Supply Control, By fixing the mining rewards according to network difficulty, we have achieved this demand-driven blockchain goal and and have stabilized mining costs. Unlike traditional cryptocurrencies with fixed or inflationary supplies, Canxium’s supply depends on market demand. The market demand is directly reflected in the coin’s price, where the price is the profit of the miners, thereby promoting or preventing miners from accessing the network, thus directly affecting the network difficulty. As demand for Canxium increases, the coin supply increases and vice versa. This mechanism safeguards CAU against extreme price fluctuations and fosters stability. It offers users a cryptocurrency that holds its value more reliably. So this mechanisms creates a good balance and this makes $CAU less high volatile. High volatility is something we want to combat with. For general users and businesses, too much centralization or too much volatility are two things that keep them from using blockchain in their daily lives.
- How does Canxium’s offline mining process work, and what are the benefits of this methodology in terms of sustainability and decentralization?
Canxium Offline Mining is a new concept in this industry, as its name suggests, it allows miners to mine CAU independently and completely without the need for constant internet, just like a gold miner.
Canxium allow miners to mine on transaction instead of block, the process are:
1. Choosing Mining Difficulty and algorithm.
2. Generating a Mining Transaction
3. Create Transaction Identification
4. Dataset Generation (Ethash algorithm only)
5. Mining: The miner search for a valid mining PoW nonce on the transaction they created. Once they find it, they broadcast the transaction to the Canxium blockchain. The block miner validates and seals the broadcasted transaction to block, and a new CAU is created as a reward. The reward is shared between offline miners, block miners, and foundation funds. From there towards further goals: Decentralize the mining process, today mining are dependent on mining pool which too centralized. Offline miners does not need mining pools and anything from online data.
- Why proof of stake without staking reward? Where will validators earn reward?
Paying rewards according to mining difficulty and fixing mining costs also has disadvantages. If market demand is too low and the price of CAU does not compensate for the fixed mining cost, miners will not mine CAU. leading to the network being very vulnerable to attacks, so we will soon move to PoS in the next few months.
Since this is a blockchain according to market demand, staking rewards will circumvent this mechanism. Therefore, combined with offline mining, validators still receive mining rewards by sharing offline mining rewards, and miners only mine offline when the market has demand, thus we have solves many problems by uniquely combining PoS and offline mining. CAU will always be generated solely by PoW mining, regardless of whether canxium swithc to PoS.
- What are the key milestones achieved by Canxium so far in its roadmap, and what can we expect in the upcoming phases of development?
Key milestones: Successfully start Canxium mainnet, implemented demand-driven supply control and offline mining (testnet).
Upcoming phases: Canxium Dex, Bridge and proof of stake without staking reward.
- What kind of security measures does Canxium have in place to ensure the safety of user data and transactions within its network?
We inherit the safety and security of Ethereum, As long as the network is decentralized and the number of nodes is operated by good people, the network will be safe. We haven’t changed too much in Canxium’s parent source code (Ethereum), so as of now, everything is safe and free of vulnerabilities.
- In what ways does Canxium promote decentralization, and how does it ensure that the power is distributed evenly among its network participants?
We already running on POW and like other POW coin, Canxium is totally decentralized. Next consensus of Canxium is POS and like Ethereum, we hope more validators will stake and run Canxium nodes to make Canxium more decentralized. Also, with offline mining, miners does not dependent on any mining pools and that will make Canxium more decentralized. A new blockchain will take time to gain popularity and will become more decentralized as more people join to run nodes.
- Could you elaborate on Canxium’s plans for expansion and integration with other blockchain networks or platforms in the near future?
We’re building a new bridge to Ethereum and more chain will be intergrated to the bridge in the future.We intend for Canxium to become a central blockchain, like a financial center, transferring assets between many blockchains. Because of time issues, we will build a centralized bridge first — it is V1 bridge, after that we will integrate the bridge into our next PoS consensus, so the blockchain validators will also are bridge validators to make the bridge decentralized — it is V2 bridge.
- What are the future prospects for Canxium, and how do you envision its role in the coming years?
Canxium is a bold project, and takes a very different direction, so we believe its prospects are limitless. The world has had projects that tried to achieve stability, low price fluctuations and decentralization but either failed (Luna — UST), or were difficult to expand and access (Dai). But Canxium — we can achieve that goal.