Hi Vex Partners,
Here we meet again at that time of the month where we will share with you every Vexanium achievement and improvement in March! These are some of our Highlights in March.
1. Testnet Q&A Vexanium
We would like to thank you for every support during this 1 year. We as Vexanium team believe and very optimist that our products can bring blockchain ecosystem to a better future especially in Indonesia because currently in Indonesia there’s still no public blockchain with established smart contract. Beside that we believe that Indonesia will hold an important role on blockchain and cryptocurrency industry in southeast Asia or even all over the world. Here are some of our focuses and Q&A that you need to know:
Vexanium focus in 2019
1. Testnet and DPOS introduction
We will keep updating about our testnet progress such as how to make smart contract, TPS and also how to get big candidates that will get into process of becoming Block Producers. We will also do LIVE demo for the app.
What is DPOS (Delegate Proof of Stake)?
As we know POS (Proof of Stake) is where every user who has token in certain amount can verify transaction (or becoming miner) in ETH/Bitcoin Proof of Works concept.
DPOS is where not every user who has VEX can verify the transaction but only the selected user that could become Block producers or users who verified transaction. The election to become Block producers held by voting system periodically just like the democration system and president election. For estimation we need around 12 million VEX to become a candidate and the election process runs around 4 months after Vexanium Mainnet is released.
Staking introduction
In POS concept, user hold an asset in certain amount and then get reward. So, Vexanium collaborate with VexGift to launch Vex Staking Reward Program where you could get VEX in this staking program. Our goal to become the first public blockchain in Indonesia is to introduce staking concept to the mainstream.
2. Talent
We also focus on finding talent specifically internal programmers. Our target is to add up minimum 5 programmers per month. These programmer will become developers that building Vexanium ecosystem together and also build ecosystems above Vexanium platform.
3. Mainet preparation
Vexanium mainet will runs at the end of Q2 2019. Mainet schedule itself really depends on the process and progress of testnet where we will update it to you periodically. Mainet schedule can be ahead of time or even delay from the schedule because everything is depends on testnet progress.
4. Token swapping
We also actively share information with exchange about the swapping token process where this program will runs after the mainnet launch.
Q & A
Q: Ethereum has ERC20 as their token name and Tron has TRC20 as their token name, what will be Vex token name?
A: VEX.TOKEN is the token name of VEX. VEX.TOKEN will be the standard token and smart contract from vexanium
Q: How about the VEX fee transaction? Will you use GAS FEE or other else?
A: The transaction fee to send VEX in vexanium mainnet is FREE but there are some conditions which is every address has to stake VEX and getting VEX address is also not free. You have to buy VEX or get VEX from other person to get the username and do staking.
Staking here means every user should do staking and buy some RAM,NET, CPU. CPU and RAM is used to verify the VEX transaction.
Q: Will vexanium has its own launchpad like the other exchange?
A: No, we are focusing in public blockchain and we are not doing any launchpad like exchange but we will support in technology part for every project that runs in vexanium mainnet. For launchpad, every project could collaborate with exchange by themself. For now, we already have around 3 exchanges that could help with the launchpad but the dealing process between project and exchange depends on their agreement.
Q: How about the period of VexGift Staking program?
A: VexGift staking program will be reviewed in 1-3 months ahead. But if we talk about the outline, this program will be running until process of Voting Block Producers is done.
After VexGift, VexGift reward will adjust with block producers reward
Q: When moon?
A: We focus to develop the infrastructure from Vexanium blockchain project itself which we know if a public blockchain already running then the ecosystems development is unlimited. Demand will come from Miners (Staker) and block producers and the demand will running on DAPP that runs in vexanium blockchain. Then the liquidity will always be there because we will also planning for Decentralized Exchange
Q: What will happen if VEX supply in market reach 1 billion? Whether there will be additional supply later. Or will it be the same as EOS where reach 1 billion supply then comes the Supply Additional as inflation?
A: Yes, after every Block comes to 1 billion, we will add Additional Supply which is 5% per year where 1% will be given to block producers and 4 percent to further development. (For 5% we haven’t had the details buat we will announce the details later step by step)
Q: What is the difference between POS (Proof of Stake) and DPOS?
A: POS is where every user who has VEX got opportunity to verify transaction and get reward. DPOS is where not every user who has VEX can verify the transaction but only the selected user that could become Block producers or users who verified transaction. The election to become Block producers held by voting system periodically just like the democration system and president election. For estimation we need around 12 million VEX to become a candidate and the election process runs around 4 months after Vexanium Mainnet is released.
Q: What is the programming language of VEX Mainnet?
A: C/C++ is the programming language that we use in VEX Mainnet. We believe that C++ is a programming language that is very popular and we hope in the near future will be lots of developer interested to create smart contract in VEX
Some things that you need to master is C++, Phyton and WebAssembly
Q: How much is the TPS speed of VEX Mainet?
A: The TPS speed of VEX Mainet above 1000 TPS but we’re quite confident that in the near future will be around 2000 TPS.
Q: What is the advantage of Decentralized App for programmer?
A: Decentralized app that build in blockchain enable interaction between user and provider so do not need any central authority to make an application works or we could say that we change how the middleman works. The dapps feature such as “programmable money”, “Confidentiality”, “crypto insentives”, “trust & audit trail” opens lots of opportunity to a new business model.
Decentralized apps is the latest trend like we talk about indonesia marketplace ecommerce in 2005 and internet in 1995. They still have lots of opportunity to develop.
2. Block Community Medan
Hello again Medan! We joined Block Community to Medan on March and our CEO, Danny Baskara is speaking on stage about Vexanium Mainnet that will launch at the end of Q2 2019.
3. VexGift iOS Lite Launch
During these few months we already received lots of feedback from all of our users and from those feedback we are ready to launch Lite version of VexGift iOS can get the best experience when using VexGift.
On this VexGift iOS Lite, user can participate on VEX Staking Program that already held since 12th March 2019 where you can increase your VEX by depositing 100.000 VEX or more.
Read more here.