Vicky A, [27/12/2023 23:08]
So here’s the first question
We’ll like to know👇
What inspired the founding team to create Canxium, and what sets it apart from other blockchain projects?
Neo Krypt, [27/12/2023 23:09]
Before answer the first question, let me introduce Canxium first.
Vicky A, [27/12/2023 23:10]
Go ahead please 🙂
Neo Krypt, [27/12/2023 23:11]
Introduction: Canxium is a groundbreaking blockchain platform that introduces a unique economic model that revolves around supply and demand dynamics. It is the first project aiming to create a more stable and sustainable ecosystem, thereby aiming for broader adoption of blockchain and cryptocurrency in everyday life.
Neo Krypt, [27/12/2023 23:11]
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.
Neo Krypt, [27/12/2023 23:12]
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.
Neo Krypt, [27/12/2023 23:13]
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.
Neo Krypt, [27/12/2023 23:14]
That is what inspire us to create Canxium 8 months ago.
Vicky A, [27/12/2023 23:16]
Awesome. I’m sure this is inspiring to the community to know of such brilliant project 🙌
This leaves us to the previous question
What inspired the founding team to create Canxium, and what sets it apart from other blockchain projects?
Neo Krypt, [27/12/2023 23:19]
The answer for that question right here Vicky.
Vicky A, [27/12/2023 23:20]
Alright. Let’s have the next question then?
Can you explain the concept of demand-driven blockchain and how Canxium implements this approach in its ecosystem?
Neo Krypt, [27/12/2023 23:21]
I know you will find it difficult to understand how a blockchain can follow such complex laws of supply and demand. Let me explain it more simpler.
Neo Krypt, [27/12/2023 23:21]
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 the mining costs.
Neo Krypt, [27/12/2023 23:23]
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.
Neo Krypt, [27/12/2023 23:24]
We also created something called: Decentralized Supply Control Mechanism.
Vicky A, [27/12/2023 23:25]
There you have it community
I think this explanation is a whole lot of enlightenment 👍
This leads to my next question
What is offline mining and how does Canxium’s offline mining process work, and what are the benefits of this methodology in terms of sustainability and decentralization?
Neo Krypt, [27/12/2023 23:26]
Well, we also came up with something even better: Offline mining.
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 gold mining.
Neo Krypt, [27/12/2023 23:27]
Offline mining work by 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.
Neo Krypt, [27/12/2023 23:29]
That it Vicky, offline mining.
Vicky A, [27/12/2023 23:32]
Your project seem to be a trail blazer in the 🚀
Kudos to the team
Your answer also gets me curious with my next question 🤔
Why proof of stake without staking reward?
Where will validators earn reward?
Neo Krypt, [27/12/2023 23:34]
Yes, This is an interesting question, understanding it will give you a great opportunity to become Canxium validators in the future.
Neo Krypt, [27/12/2023 23:35]
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 without staking reward in the next few months.
So where will validators earn reward?
Neo Krypt, [27/12/2023 23:36]
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 switch to PoS.
Neo Krypt, [27/12/2023 23:37]
We’re planning to allow staking next 1 or 2 months, PoS will available next 4 months. Minimum stake may be 3200 CAU to be enable to become validators.
Vicky A, [27/12/2023 23:39]
Interesting session so far
I hope the community is taking notes 😊
My last question would be
What are the key milestones achieved by Canxium so far in its roadmap, and what can we expect in the upcoming phases of development?
Neo Krypt, [27/12/2023 23:41]
Thank you Vicky, I believe this is the last but also the most important question, it shows that we are very serious and dedicated to a revolutionary project of this industry.
Neo Krypt, [27/12/2023 23:42]
We have successfully started Canxium mainnet 8 months ago, implemented demand-driven supply control and offline mining (testnet). We aslo have our own Dex and Bridge to Ethereum.
Neo Krypt, [27/12/2023 23:43]
Upcoming phases of the development would be our most important feature to make sure the network are safe after the Hydro fork: PoS + Offline mining.
