FAQ

What is Vex Wallet?

VexWallet is a Decentralized Wallet, where all your coin vex assets and your account are your own responsibility, no one has access to you (even Vexanium does not have access to your vex account). Vex Wallet is a blockchain application that makes your Vex coin assets safe can be like an exchange too.
Vex Wallet has security features that support including:

  • Login Password or Fingerprint to App
  •  PIN code lock
  • Backup & Restore your Private Key Vex account
  • View your Public Key Vex account

Vex Wallet also has helpful features, namely:

  • Add more than 1 Vex account
  • Convert vex asset value of coins to USD
  • Realtime Prices
  • Percentage (%) Increase or decrease in price
  • Send & Receive Vex coins

Just to mention the information that Vex Wallet is now divided into 2 platforms, namely:

  1. Vex Wallet Mobile (Android) can be downloaded at the Google Play Store following the link
  2. Vex Wallet PC (Windows, Mac) can be downloaded following the vexanium website link
What is CPU, NET and RAM?

illustration of vex account structure

As we know that the Vexanium blockchain as a new generation blockchain uses a resource (resource) model that does not charge the transaction model costs that usually existed in the previous blockchain generation. The Vexanium blockchain is designed to be able to handle millions of transactions in the future and therefore requires a super-fast infrastructure that is very dependent on resources (CPU, NET, and RAM).

Following is an explanation of basic resources for the vexanium blockchain. There are three basic things related to resources when using vexanium blockchain, namely CPU, NET and RAM

to make it easier to explain CPU, NET and RAM can be explained in the following way, if the vexanium blockchain is a train, then:

NET will be the available seat on every train that departs and enters the blockchain. Your chair will always be provided, and if you need it, it will be yours. But if there is no one on the train, you can lie on a lot of chairs because it’s free! So NET is a way to make sure you have a seat when the train goes.

The CPU is how often you take the train, and works like NET as far as the allocation goes. You may have a train ticket, but of course tickets can only be used on certain days and times. Now the VEX train is relaxed enough, so that any unused space is free for reuse (CPU and NET), free for use by people who pay to get more space. CPU and NET are shared resources called BANDWIDTH.

RAM is your storage space on the train. If you need to carry a ton of luggage, you need to pay per bag to check your bag on the train. If you don’t carry a lot of luggage, you can sell your storage space to other people who take the train.

CPU and NET can be obtained by means of VEX coin stake, which basically locks your token for a certain time. When users want to move their VEX coins, they can release their tokens and this takes about 3 days (72 hours), from which the mechanism can basically make free transactions on the vexanium blockchain.

The CPU and the Net are used by users to use the Vexanium blockchain ecosystem, such as conducting transactions with other users. While RAM cannot be obtained through VEX coin stake, it can be bought or sold and used for token transfer needs in the vexanium blockchain and RAM is also used exclusively. by application developers to create and manage decentralized applications (Dapp, Defi). For more details, you can read again here.

What is Smart Contract?

Definition of Smart Contract

 

Today we will talk about smart contracts, one of the important things in blockchain technology! What is smart contract?
Smart Contract is an agreement between two people in the form of computer code, in this case the vexanium smart contract is written using the C ++ programming language while the front end can be combined using other programming languages ​​such as PHP or Python. Smart contracts run on blockchain networks, so they are stored in a public database and cannot be changed. Transactions that occur in smart contracts are processed by blockchain, which means smart contracts can be sent automatically without a third party (bank, government, broker, etc.).

Transactions that occur in smart contracts only occur when the conditions in the agreement are fulfilled. In the absence of a third party, there is no entity that needs to be trusted in carrying out the smart contract and of course this can reduce costs for third party services. The smart contract code is responsible for facilitating, verifying, and enforcing the negotiation or performance of a transaction or agreement.

How Does Smart Contract Work?

We will explain how smart contracts work through a case example:

Andy wants to buy Kevin’s house for Rp1,000,000,000, then the purchase agreement is made using a smart contract. So the smart contract contains an agreement between Andy and Kevin, which can only occur after fulfilling an agreement made by the two parties.

In order for Kevin to get Rp1,000,000,000, he must give the house certificate to Andy. After Andy received the certificate, Kevin only received Rp. 1,000,000,000, in accordance with the smart contract that had been made and agreed upon together.

If in this scenario Kevin and Andy don’t use smart contracts, then they have to pay a lot of fees to third-party companies. Amazing, right? There is no commission anymore and there is no delay in waiting for lawyers and brokers to process agreements. This is only one of many usecase or smart contract implementation that can be used to solve everyday human problems.

Use of Smart Contract in solving human problems?

Smart Contract has unlimited usage possibilities. Smart contracts are currently being used for financial trading, insurance services, credit authorization, legal proceedings and even for fund raising / crowdfunding.
Let’s look at smart contracts that can be implemented in any industry in the following infographic. for detailed explanation can be checked here.

Smart contract use case

What is a DApp (Decentralized App)?

Illustration of Dapp Vexanium on the Dapp.com portal

 

The term “DAPP” is an abbreviation for decentralized application. This application looks exactly like other applications on your mobile device or PC / Laptop. The difference is that between non-decentralized applications and DAPP is that the last backend runs on a decentralized peer-to-peer (P2P) network as if it has a centralized server.
DAPP is an application used by users to interact with blockchain. Dapp is an application that is peer to peer, does not have a middleman / intermediary so that between users can do peer to peer transactions (P2P) directly between them.

 

Users access the blockchain via Dapp

Peer to peer transactions do not require a middleman to occur because of the character of the blockchain technology that stores data in many nodes / block producers / miners that also function as verifiers.

Some other characters from Dapp are transparency, proof of data ownership, independence.

Dapp is the application layer of blockchain technology – the application layer is in direct contact with the user, where the blockchain is often referred to as the protocol layer. The development and success of Dapp will determine whether blockchain technology can be widely adopted or not.

 

DAPP as the application layer of the blockchain

Just like a normal application, the DAPP frontend can be written in any programming language. For example the VDICE game corenya is made with C ++ language outside the front & back end, while for hosting, DAPP can choose decentralized storage, such as Swarm or IPFS. While many of us still haven’t tried it, they can be easily downloaded from Google Play or the App Store.

In theory, DAPP must meet the following criteria:

  • Open Source: source code must be publicly available.
  • Decentralized: utilizing cryptographic technology to carry out operations.
  • Incentives: it offers incentives to users in the form of digital tokens.
  • Protocol: the system generates tokens and includes an inbuilt consensus mechanism.

What is DAPP used for?

As mentioned above, DAPP is very similar to the normal applications on your device. Therefore, DAPP can be used for any purpose. From making games to making applications that are commonly used in everyday life, in DAPP there is generally a token exchange mechanism as an incentive, there is no limit to what DAPP can do. However, it is important that whatever the purpose, it encourages the use of applications to get incentive or reward, and this is an important part of DAPP. For a more detailed explanation about DAPP, please check here.

What is Block Producer (BPs)?
Ilustrasi Block Producers(BPs) Vexanium

Ilustrasi Block Producers(BPs) Vexanium

Block producer (BPs) is one of the main innovations introduced by the Vexanium Foundation, and BPs will become a decentralized entity that governs the Vexanium blockchain. Vexanium BPs entities can consist of Individuals, Societies or communities, Traaders, Investors, Developers, Player Gamers, Companies, and other legal institutions that have not been written down. Mining systems in BPs look as if BPs run a small number of mining pools, Vexanium BPs will have nodes / validators that continue to change from a 24-hour non-stop voting mechanism called Top 21 BPs, Top 21 BPs are active status BPs responsible for the Vexanium blockchain network, for BPs ranked 22 and above to BPs with Stand by status, BPs have some additional functions such as a state legislature that can regulate and direct the course of the rules on the vexanium blockchain (make new contracts, or other rules of the game), for more details who is included in vexanium BPs below we have detailed the 5 Types of BlockProducers in the Vexanium Blockchain Network :

  1. Organization (group): consists of a group of people (consortium) in a group group / staking where usually this group consists of retail or corporate investors.
  2. Developer Network: is a group of Blockchain enthusiastic usually as a DAPP developer, they are developers who are active in terms of technology updates, network developers usually get votes from the community for free so that the VEX blockchain network can continue to grow.
  3. Influencer (KOL / Key Opinion Leader): People who have influence in a community where many people will vote for the influncer.
  4. Core Developer Vexanium: Core Dev will become BP, monitor the network and become a backup on the network and continue to try to upgrade technology on the vexaniun blockchain network.
  5. Exchanger: Crypto Exchange usually gets a lot of VEX from traders who store their vex on the cold wallet exchange

BPs have the potential to create large incentives. BPs will get rewards for making new blocks in the form of Vex coins generated by the token inflation mechanism. According to the digitalis.id site Vex coin rewards are given at 2% paid by BPs, the remaining 3% will be locked in worker proposals (saving’s) of the total 5% of total inflation each year.

Ilustrasi perhitungan Reward B.P dari mekanisme token inflation

To see the active or stand by vexanium BPs can be checked directly on vexplorer at the address https://explorer.vexanium.com/producers there will be seen the number of 21 Active BPs and the rest are passive BPs
on the vexplorer page you can see a list of active and stand-by BPS as well as some other information such as running blocks, vex prices, RAM prices and new account creation on the vexanium blockchain.

List of BPs in Vexplorer

Basic Tasks of Block Producers (BPs)

The task of BPs is to verify various transactions that occur on the blockchain network, then this verification activity will produce new blocks in the blockchain protocol.

The following are the tasks:

  • Collect and record every transaction that occurs on the vexanium blockchain network.
  • Validate transaction data to be entered into new blocks.
  • Broadcast blocks to other BPs, so they can be created and connected to new blocks

for any details the benefits of being a BPs have been discussed in detail here.

How to Register a Vexanium Blockchain Account

Default VEX Blockchain Account (12 Character)

Vexanium (VEX) uses a different account structure than most blockchain you know. Even though it may look complicated at first, it’s not so difficult once you understand the basics, all of which will be discussed in this article. So, how exactly does a VEX (VEX Address) blokchain account work?

VEX Premium Blockchain Account (under 12 Character)
This account is a premium account obtained from bidding on the blockchain through namebid.vexanium.com, every day there is 1 premium account that will win the bid process, so there will be 365 premium accounts in 1 year

VEX Blockchain Account Structure

Each user has one or more accounts on the Vexanium blockchain. VEX blockchain accounts are stored human-readable identifiers

On the blockchain and they are required to push or transfer

any transaction (valid) to the Vexanium blockchain. This account also has permission configuration. A VEX account consists of 12 characters and can contain letters a-z and numbers 1-5. These account names replace the long, awkward wallet addresses used in most other blockchain.

Furthermore, each VEX blockchain account has a unique Permissions configuration. Permission can be seen as a requirement that must be met for the transaction to be passed. VEX accounts by default have 2 permissions, namely:

(more…)

What is Vexanium?

Vexanium is a blockchain public project that has its own blockchain technology and infrastructure platform, commonly referred to as “mainnet”, or which means developers or programmers can create blockchain applications, decentralize applications (Dapps), decentralize finance (Defi) with Vexanium blockchain infrastructure .

the definition of vexanium

 

Vexanium is a 3rd generation public blockchain designed to be implemented in various types of industrial sectors to get optimal results and get better audit trails, the vexanium blockchain supports decentralize application (Dapps), decentralize finance (DeFi) ecosystems and retail penetration and advertising targeted for mass adoption.

Vexanium focuses on solving obstacles and critical problems from previous blockchain technologies such as speed, scalability, usability, and flexibility. Parallel processing technology and asynchronous communication methodology from vexanium allow all vexanium ecosystems (blockchain applications, Dapps, Defi) to operate and transact by processing simultaneously without having to add to the burden of the vexanium blockchain network. The Vexanium Blockchain allows everyone to publish smartcontracts and interact without restrictions (permissionless).

4 Advantages of the Vexanium blockchain:

 

  1.  vexanium public blockchain is the latest generation of blockchain
    The vexanium blockchain is the 3rd generation with consensus DPOS (Delegate Proof Of Stake), different from the blockchain of previous generations such as Bitcoin and Ethereum which still use the first and second generation blockchain, besides that the vexanium protocol also has smart contract features that support Dapps and Defi, it’s easy to code because it uses the C ++ language which has proven to be the most popular programming language to this day.
  2. Transaction fees on the Vexanium blockchain are free and Scalability is much faster The Vexanium ownership structure allows free use by users and eliminates transaction costs like previous generation public blockchain. Programmers or blockchain project developers are allowed to use resources proportionally to their own ownership (resource / resource fee model).
    Transfer fees between wallets are free and if the developer requires a coin vex resource, then the price per coin is still cheap when compared to using ETH coins if you want to test or test making blockchain, Dapps or Defi applications. And keep in mind also that the Vexanium blockchain architecture has the potential for scalability that is much faster than the blockchain in general, namely the speed of the transaction is able to reach at least 2000 TPS (Transaction Per Second).
  3. Has a Decentralized Mobile Wallet (Vexwallet)

    Illustration of Vex Wallet Mobile

    One of the advantages of the vexanium blockchain is that users can store their vex coins and simultaneously access decentralized applications (Decentralized Apps) via an android smartphone via Vexwallet Mobile, and to simply add insight that we can also store our vex coins in an Exchange wallet but need to understand that The wallet is a centralized wallet where we do not own the private key.
    VexWallet is a Fully Decentralized Wallet app where we can store our crypto vex coins, access various Decentralized Applications in the vexanium Ecosystem, and also be able to access other blockchain cross-chain, while also being able to create a variety of new tokens in the blockchain vexanium.

  4. Equivalent or even better than the Ethereum blockchain:
    After we know some of the advantages of the vexanium blockchain, we will try to compare it with other similar infrastructure blockchain such as Ethereum, the most noticeable point is that vexanium has a transaction delivery speed 100x faster than ethereum, here is a comparison of the Vexanium blockchain with the same Ethereum blockchain- same with blockchain public infrastructure:

comparison table of ethereum vs vexanium blockchain

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