What are the problems with current blockchain that your project solves?
Short Answer: BEXAM aims to bring practical enterprise blockchain solutions by introducing industrial level scalability.
Long Answer: BEXAM is capable of 40 million TPS and 0.2 second block times which translates to real scalability for enterprises. Previous projects either ignore the demands of enterprises, or misdefine the idea of scalability from the perspective of enterprises. By introducing the security of blockchain and scalability that until now has been unavailable, blockchain for enterprise becomes a reality and the uses of blockchain in our modern society become more clear.
Why would enterprises want to use the BEXAM platform?
Short Answer: Enterprises cannot use current blockchain solutions as their networks and their corresponding traffic are too large. BEXAM introduces a blockchain/DAG hybrid platform that can finally handle their specific needs.
Long Answer: Enterprises have a very specific set of needs due to the sheer size of their network. Current centralized solutions leave businesses and their customers at risk for hacks, whereas current blockchain solutions are simply not scalable for the needs of enterprises. With BEXAM’s unprecedented capabilities of 40 million TPS, block times of 0.2s, and multi-layered security, enterprises everywhere have a practical blockchain solution that can cater to their large-scale needs. Additionally, BEXAM is not a one-size-fits-all solution; BEXAM will create unique solutions with tailor-made chains to ensure that BEXAM provides only the best to its users.
How does enterprise implementation work with BEXAM?
When BEXAM is implemented, central databases will no longer exist. Instead, Master Nodes will share and store data, thereby decentralizing and securing the data held in the previous database structures.
Furthermore, integration with BEXAM allows companies to connect their BEXAM Private chain with the Public chain in order to further streamline their operations. This can be seen as a company putting sensitive customer or internal data on their Private chain so that they are the only ones that can change and view this information. At the same time, the company can choose to put certain information on the Public chain which will be accessible to all customers. This information can include product availability and inventory; additionally, if a public user wanted to purchase an item from the Public chain, he or she could do so with BXA tokens. Additionally, if an enterprise wishes to maintain a portion of their database as centralized, the BEXAM platform can fully integrate to work with these systems.
Why are you targeting business implementation at the beginning?
We believe that the future of blockchain can be revealed through business use. That is, blockchain does not currently appeal to the mass public because they do not yet see the value of implementing blockchain in society. It’s uses seem distant and unnecessary. By implementing blockchain successfully through enterprises, we can better unravel the potential uses of blockchain as a whole. This reveal will help us unveil to society the endless benefits and possibilities of blockchain.
What are Super Nodes and Master Nodes? How do I get one?
Short Answer: Super Nodes and Master Nodes are essential in processing a transaction on the BEXAM platform, and, as such, earn a reward for every transaction in which they assist. In order to get one of these nodes, a user must stake a certain amount of BXA tokens.
Long Answer: Super Nodes and Master Nodes play important roles in transactions within the BEXAM platform. A Super Node of a transaction and removes any duplicate transactions. A Master Node will monitor other Master Nodes and the Root Node while also confirming the consistency of a transaction. When a Super Node and Master Node complete a transaction, the Super Node will receive 20% of the transaction fee while the Master Node will receive 80% of the transaction fee.
In order to create a Super or Master Node, an interested person will first need to go through our KYC process. After this is successfully completed, an interested person will need to stake an appropriate number of tokens:
Super Node: 100,000 BXA
Master Node: 500,000 BXA
Once this is completed, the tokens will be frozen and the node will become active in the network. If a user wishes to dismantle their node, the corresponding tokens will be returned; however, if a node is suspected of malicious behavior on the network, the node will be suspended and an investigation will ensue. Should the node be found to have engaged in malicious attempts, the node will be dismantled, the user’s tokens will be forfeited, and the owner of the malicious node will be banned in ever owning a node on the platform again.
Is BEXAM mineable?
No, BEXAM is built on the PoR algorithm, which removes nonces from hash values, thereby eliminating the need for mining.
What are BEXAM’s key features?
Where do we start? Our three key factors are speed, scalability and security.
Speed - BEXAM offers unmatched speeds of 0.2s block generation and 40 million TPS. This means that enterprises everywhere have a solution that can cater to their very unique and large-scale needs.
Scalability - With BEXAM, data transmission always follows a set path established by our node hierarchy. This means that no matter how large the network becomes, the path for transaction approval remains the same.
Security - Enterprises can enjoy the expected security of blockchain when implementing BEXAM into their business. Multiple layers of protection shield the network from malicious attacks, both internal and external. Additionally, enterprises can utilize a private chain to ensure the safety of their sensitive data while simultaneously integrating a public-facing open chain.
Where can I find the source code?
Currently, we do not offer the source code publicly. We are in discussions at the moment about releasing this information in the future, so stay tuned!
Is there a KYC process for the sale?
Yes, there will be a KYC process for our private and public sale. This KYC process will be required for all users of the BEXAM Exchange and platform, as ensuring the security of our platform is of utmost importance.
Will there be token burning? If not, what happens to unsold tokens?
No, unsold tokens will not be burned. Instead, unsold tokens will be turned into permanent Master Nodes that cannot be dismantled.
What is the BEXAM Exchange and what does it have to do with BEXAM?
The BEXAM Exchange is our consumer-focused proof of concept. Our exchange will allow crypto enthusiasts to experience the speeds of Proof of Rounds. Our public sale will also be taking place on our exchange. Make sure to follow us on social media so that you can stay up to date on our exchange!
Are you affiliated with Bithumb?
No, we have no affiliation with Bithumb.
Are you going to have a bounty program?
Yes, bounty programs are currently in development. Announcements about our bounty program will be released across our social media channels.
How does PoR come to a consensus?
Consensus is not formed by the traditional sense, but instead operates through a node hierarchy. The major players in consensus-building are the Master Nodes and the Root Node. The Root Node is the only node that can append to the blockchain, but to minimize the opportunity for malicious actors, there are a couple of measures: 1) The role of Root Node changes every second and the next Master Node to become the Root Node is impossible to determine 2) Master Nodes not employed as the Root Node monitor the Root Node for any malicious behavior.
For all the details on Proof of Rounds, make sure to read the technical whitepaper.
Won't your block time of 0.2 Seconds create a slower consensus convergence in a real-world network than that of a longer block time DAG system?
This point is absolutely right, but there are 3 main countermeasures we implement to fine tune our system in the development environment to 10ms or less.
- Improvement of single node throughputs.
- The hierarchical structure of our system.
- Optimization of transaction transfer route (although this is still undergoing some adjustments).
By assigning unique roles to specific, individual nodes, isn't the system intolerant to partitions if any node goes down or becomes unreachable?
There are multiple quantities of nodes within each node group. There are always more than just one way to connect to each other within the system. If a node goes down, the system will most certainly NOT go down. Our network is structured by a rule of five - for each Master Node, there are five (5) Super Nodes. For each Super Node there are five (5) Normal Nodes. This ensures that a pathway always exists, even if a node were to go down. In situations with the Root Node, where only a single type of this node exists at any given time, the system would automatically pass the Root Node status to the next Master Node in queue. We go into detail on this in our Technical Whitepaper.
What happens if a Master Node or Super Node goes down? Does the system need to go through a time-consuming election process?
There is a temporary promotion function set within the system, so that even if the role-holding nodes have crashed, they would simply be replaced temporarily until they are back online. So, this is not a problem.
Regarding a Master or Super Node crashing and taking a large amount of resources to select the replacement within the system like DPoS or PoS: we are PoR, a completely unique consensus algorithm that works differently. In PoR, there is an order to who will be the next Root Node, therefore there is no need to spend an enormous amount of resources at all to make a selection.
Isn’t having a leader node of any kind a design flaw that would be susceptible to a DDoS attack?
The IP addresses are not specified and the network structure itself is made as such that the IP addresses of participants entering the network are tied. Even if the current 'leader node' is taken down, it simply gets replaced by the next leader and there are multiple nodes that have the authority to become the 'lead node' operating within the system at any given time. If the system is small, then yes, the probability of having a DDoS attack succeed is indeed high; however, if the number of Master Nodes operating in the system exceeds more than 10 then the system will be stable regardless.
As for the management of our Master Nodes, it is protected by Google’s firewall, which has never been successfully hacked. Even if someone manages to bring down node after node, the system is planned to be as such that it will just replace it with new nodes operating in the system to keep it running smoothly.
Have you removed Hash Blocks?
A block hash remains. We just don’t have a nonce in the hash value. We go into detail about this in both of our White Papers.