Canxium’s first hardfork at block 4,204,800 took place successfully today at: Jun 23 2024 13:22:11 PM (+07:00 UTC)
This hardfork enable #offline mining to the mainnet.
So what is #offline mining?
What benefits will this bring?
Why is it revolutionary?
With the Hydro Fork, the core system on which the project relies will finally be deployed, enabling Canxium to realize its main mission: the establishment of a decentralized, reliable, fair, and stable monetary system, usable for everyday purchases and as a true store of value. Canxium aims to succeed where its competitors have failed, offering a currency less prone to high volatility with abrupt price movements, and whose value cannot be manipulated by traditional schemes such as Pump and Dump.
Moreover, Canxium’s technological innovation of offline mining will allow anyone to mine the CAU coin, regardless of a stable or constant internet connection. Whether you are in a region with limited internet access or in a country hostile to cryptocurrencies, you will still be able to mine securely and discreetly, waiting to have a connection to submit your mining operations to validators on the network and receive your reward.
This major feature, successfully audited by Certik on May 30, 2024, will also enhance the network’s decentralization while securing it further, with a reduced environmental footprint by limiting unnecessary internet connections.
— How will it work? —
To meet its commitments, Canxium has designed a variable reward system with demand-driven supply, better controlling the emission of new coins and thus avoiding overproduction during periods of low demand while supporting the coin’s value when demand is higher.
All this is made possible through an ingenious mechanism that maintains a stable mining cost by adjusting rewards based on mining difficulty:
- If demand is high, CAU’s price will raise higher, and miners will have more mining profit, leading to the total mining difficulty increases, and mining rewards will increase to compensate for the additional mining costs. More coins will be issued.
- Conversely, if demand is low, the total mining difficulty decreases, and mining rewards will also decrease. Fewer new coins will be issued. This means miners are rewarded proportionally to their computational effort (with identical rewards for the same hashrate), ensuring more predictable and stable income regardless of difficulty or demand.
Thus, anyone can participate in extracting new coins, regardless of their hardware’s power and without being unfairly in competition with other miners.
The issued rewards will be distributed as follows: 70 to 75% to miners, 15% to validators, and 10 to 15% to the Canxium Foundation to fund development and marketing.
Let’s wait and see when the first offline mining transaction will be submited by miners.
