Vexanium 2020 Highlight – 2020 was a very challenging year. Not only for the Vexanium Team and Block Producers (BP) who continue to strive to improve the Vexanium blockchain ecosystem, but for almost everyone in the world as well. Of course we cannot just stand by, because we must be brave and be able to adapt to the challenges that will be faced in the future.
At the end of 2019, the Vexanium Team announced three things that the Vexanium blockchain ecosystem will focus on in 2020, namely Education, Collaboration, and Decentralization. In this highlight, the Vexanium Team has summarized all activities and achievements of Vexanium based on these three main objectives.
Vexanium Goes to Campus, Public Lectures, and Blockchain Curriculum
In order to increase understanding of blockchain, the Vexanium Team decided to make a long-term investment by educating blockchain on campuses in Indonesia. This idea came up by holding the Vexanium Goes to Campus program and public lectures at several campuses in Indonesia. From working with these campuses, another idea was created to create a blockchain curriculum. Vexanium is now collaborating with one of these campuses in order to create blockchain learning that is theoretical and practical.
Webinars, Training Sessions and Online Exhibitions
The Vexanium team collaborates with the Nodes Community to create various online events about blockchain for the wider community. In 2020, there will be around 6 blockchain webinars and exhibitions organized directly by Vexanium and the Nodes Community. With a total participant of more than 6,000 people, this online event presents participants from various backgrounds, ranging from students, programmers, blockchain investors, government parties, and many more. Apart from organizing online webinars and exhibitions, the Vexanium Team also conducts training sessions on blockchain technology and practical smart contracts.
EduVEXtion is a hashtag about blockchain and cryptocurrency education created by the Vexanium team. Usually #eduVEXtion can be in the form of images, infographics, or videos that contain basic and technical information about blockchain and cryptocurrencies. This hashtag is used on Vexanium social media to provide additional knowledge to Vexanium blockchain users.
BCA Startup Acceleration Program
The Vexanium blockchain project was successfully selected as one of the startups entitled to participate in the accelerated startup program of one of the largest banks in Asia, namely Bank Central Asia (BCA). This program which called SYNRGY, is a collaborative forum for startups who are mentored and assisted directly by BCA. Vexanium is the only blockchain project selected in this program. Then startups are provided with debriefing through one-on-one mentoring sessions, sharing from experts in various fields, and workshop sessions on various topics. Startups will also be linked with BCA Group business units through private meeting sessions, opportunities to collaborate with Central Capital Ventura (CCV) & the BCA Group, to the spotlight of media publications.
Collaboration with Other Projects
To improve quality and expand the market, the Vexanium project collaborates with several parties. For example, such as collaborating with Dapp.com, to register the Vexanium blockchain on the Dapp.com website to make it easier to track DApp statistics. Vexanium then collaborate with AToken and SWFT regarding the instant coin exchange feature between blockchains. In addition, VEX coins have also been listed on a decentralized exchange (DEX), called UNYDEX.
Collaboration with the Community
Of course, the community is also an important part of a blockchain project that is decentralized because the main cog of the blockchain network lies from BP and also the blockchain users. So the Vexanium Team also expanded a lot into the blockchain and crypto communities to introduce the Vexanium blockchain, by doing many AMA (Ask Me Anything) activities on Telegram. In addition, the Vexanium Team also conducts interactive talk shows to the community live via Instagram to be able to answer questions or hear suggestions from the community directly.
Blockchain Statistics and Decentralized Applications (DApps)
This year, the Vexanium Blockchain is officially 1 year old since the first block was created on its network (genesis mining). Since genesis mining, there have been around 93,000,000 blocks created, 80 BP standby on the network, and 38,000 VEX accounts created. In addition, there are also around 37 smart contracts, DApps, and DeFi (decentralized financial applications) that are created using the Vexanium blockchain smart contract. Its DApps and DeFi have a total volume of around 91,000 USD per day. You can see all the DApps and DeFi statistics at dapp.com.
BP Online Meetings
The Vexanium blockchain implements a consensus mechanism system called Delegated Proof of Stake (DPoS), which allows the network to be run by several representatives who we call delegators or BP. So in other words, the spirit of decentralization has been running from the start because the delegators are the one who have the authority to run this network. This is what requires the Vexanium Team and BP to meet regularly every month to discuss network conditions. Apart from that, we also discussed about plans that can be done to improve the network ecosystem in the future.
Programs and Campaigns
From routine meetings held by BP and the Vexanium team, various programs and campaigns tha have been produced which are functioned to improve the ecosystem. For example, the DApps Incentive Program and the BP Voting Stimulus which functions to mine the number of DApps and BP standby on the Vexanium network. The result is that there are many interesting DApps such as VYNDAO and VEX REX were created. There are also RAM Storage Updates and VEX Coin Burns which serve to improve network quality. In addition, we also held Vexanium BP Charity, which invites BPs to spread the spirit of decentralization to people in need of help.
Starting in 2020, all DApp(s) and DeFi(s) activities that run on the Vexanium blockchain can be tracked through dapp.com transparently. This collaboration with dapp.com is extraordinary because the Vexanium blockchain is tracked along with 12 other large blockchain projects.
VEX REX (Resouce Exchange )
VEX REX stands for “Resource Exchange” or Decentralized Marketplace of the “network resource” in the Vexanium blockchain. REX is also a DeFi (decentralized Finance in Resource Leasing). With the REX, users of the Vexanium blockchain-based application can get resources that are at a lower cost, while the REX token holder can get passive income in the form of resource rental costs with low risk. VEX REX allows users to lease their network resources (CPU/NET) to other users for 30 days of loan requirements.
Read more: Basic Resource Tutorial – RAM, NET, and CPU on Vexanium Blockchain
Get dividends from RAM trading, account name auctions, CPU + NET rental (Premium NameBid, and CPU / NET rent / Loan). This is a Resource Exchange market created on the Vexanium blockchain that allows for free rental of bandwidth resources (CPU & NET), with the existence of this REX it solves the problem that on the blockchain platform going forward. Lenders can convert their VEX and generate stable profits while developers who need resources can borrow their VEX by paying a relatively smaller fee.
Basically, VYNDAO is a DAO (Decentralized Autonomous Organization) consisting of a decentralized balance sheet of VEX cryptocurrencies collateral and other cryptocurrencies built on the top layer of Vexanium Public Blockchain, with the vision of creating a vibrant ecosystem of tokens pegged to the value of real-world assets.
VYNDAO can be called as DeFi (Decentralized Finance) because this autonomous system is an application that allows users to mint (mining) and retires (burn) pegged assets, while also providing market makers with clearly defined arbitrage opportunities.
Let’s start a new year in the spirit of decentralization! Hopefully this year can be a better year than before for all of us.