ℹ️Introduction

BLOCX is a Layer 1 blockchain platform designed to seamlessly integrate Web2 and Web3 experiences, emphasizing scalability, efficiency, and security. Originally built on a UTXO-based blockchain similar to Bitcoin, BLOCX has transitioned to an Ethereum Virtual Machine (EVM)-compatible chain to fully support smart contracts and decentralized applications (dApps).

Proof-of-Stake (PoS) in BLOCX

In its latest iteration, BLOCX has adopted a Secure Proof-of-Stake (SPoS) consensus mechanism. This approach enables users to become validators by staking their BLOCX coins, thereby participating in transaction validation and block creation. The SPoS system enhances network security and efficiency while reducing energy consumption compared to traditional Proof-of-Work (PoW) systems.

Requirements to Become a Validator

To operate a Validator Node in the BLOCX network, participants must stake a 100,000 of BLOCX coins. The staking process involves locking up these coins for a predetermined period, during which validators are responsible for confirming transactions and maintaining the blockchain's integrity. Validators earn rewards proportional to their staked amount and performance. Notably, after unstaking, there is a 15-day lock-up period before the coins become available, which is shorter than the typical 30-day period in many PoS networks.

Introduction of Proof-of-Machine (PoM)

Beyond the PoS mechanism, BLOCX introduces an innovative concept called Proof-of-Machine (PoM) through its GRIDBOX platform. PoM allows users to rent out their GPU power for tasks such as AI computations, rendering, and cloud computing. Participants earn BLOCX coins by listing their machines on GRIDBOX and receive additional rewards when their resources are utilized. This system ensures that GPU owners can generate passive income, even when their machines are idle.

Network Statistics and Performance

The transition to BLOCX 2.0 has significantly enhanced the network's performance:

• Transaction Speed: Block times have been reduced from 60 seconds to approximately 3–5 seconds, facilitating faster transactions.

• Transaction Throughput: The network supports up to 4,500 transactions per second (TPS), surpassing the capabilities of earlier blockchain versions.

• EVM Integration: Compatibility with EVM enables seamless integration with tools like MetaMask, smart contracts, and dApps, fostering a more versatile and developer-friendly ecosystem.

Economic Model and Rewards Distribution

BLOCX 2.0 implements a structured rewards distribution model:

• 70%: Allocated to Validator Nodes participating in the PoS system.

• 20%: Directed to GPU hosts contributing through the PoM mechanism.

• 5%: Dedicated to developer support.

• 5%: Reserved for treasury and marketing efforts.

Additionally, transaction fees are managed to promote long-term stability:

• 50% of fees: Burned to permanently reduce the total supply of BLOCX coins.

• 50% of fees: Locked and reserved for future rewards, ensuring sustained incentives for network participants.

In summary, BLOCX 2.0 represents a significant advancement in blockchain technology by integrating Secure Proof-of-Stake and Proof-of-Machine mechanisms. These innovations enhance the network's scalability, efficiency, and security while providing diverse opportunities for participants to earn rewards through staking and contributing computational resources.