What is DEXON?
DEXON is a distributed ledger technology based on a blocklattice architecture. The DEXON consensus algorithm provides an infinitely scalable, permissionless, and decentralized platform for DApps development.
Are there any competitors with similar projects?
Many blockchain solutions have appeared claiming to solve the scalability issues that plague decentralized platforms. However, as of yet no existing technology completely solves the trilemma of scalability, security, and decentralization. A full taxonomy and survey of existing consensus algorithms will be published by the DEXON Foundation.
What inhibits blockchain technology from getting wider adoption?
Blockchain technology is still in its infancy and most current blockchains are based on obsolete structures that process transactions linearly. The intrinsic nature of growing a blockchain block by block makes it difficult to scale, which severely limits the feasibility of real-world mass-adopted DApps.
What is blocklattice technology?
The blocklattice structure used by DEXON is an evolution of the fundamental architecture of existing blockchain technology that uses multiple blockchain systems working together in parallel.
Is blocklattice better than blockchain?
In existing blockchain technology each validator adds blocks to one long chain.The blocklattice structure used by DEXON is an evolution of the fundamental architecture of existing blockchain technology. In the blocklattice structure each validator has its own blockchain that can communicate with one another, and multiple blockchain systems can thus work together in parallel and increase the speed and safety of transactions.
What is DEXON’s proof-of-participation (PoP) mining reward mechanism?
DEXON’s proof-of-participation (PoP) mining reward mechanism is the most decentralized symmetric mining reward model in the market. Validator nodes in the DEXON network operate fully compliant to the DEXON consensus protocol to keep the DEXON network safe and sustainable.
How can DEXON be infinitely scalable?
DEXON’s blocklattice structure solves the scalability issues faced by existing blockchain technology by creating multiple blockchain systems working together in parallel.
How does DEXON reduce energy consumption?
The DEXON consensus algorithm does not waste energy solving cryptographic puzzles like in proof-of-work (PoW) blockchain systems. Moreover, the DEXON consensus algorithm has the lowest communication overhead theoretically possible, achieving optimal energy efficiency.
DEXON Foundation? So it’s a non-profit organization? If not, what is your business model?
Yes, it’s a non-profit organization like the Ethereum Foundation.
When will the IDG funding be raised?
The IDG Capital funds have already been raised this year. DEXON is also supported by other top VCs that have invested in multiple mass-adopted centralized apps. Because no existing blockchain can provide the scalability, transaction speed, and transaction throughput needed by these apps to go fully decentralized these big players believe that DEXON is the technology that will help them create their DApps.
What does the partnership with IDG entail?
IDG Capital is just one of the many top global VCs that have backed DEXON, but it is also DEXON’s official partner for DApp integration for the companies in their investment portfolio.
When is DEXON going to be rolled out?
Currently we are implementing the PoC for the DEXON consensus. The SDK and simulation results, along with a demo of the consensus algorithm will be published Q4 2018. The mainnet is then expected to go live in 2019.
What kinds of applications and industries are best suited to utilizing DEXON?
DEXON is not an application specific blockchain. Its goal is to solve the problems that current decentralized infrastructures face. However, DEXON is exceptionally useful for DApps that require very high TPS such as payment networks, asset exchanges, and gaming.
What programming languages will be supported for future DApps on DEXON?
This is yet to be determined but there may be support for multiple smart contract programming languages as long as they can be compiled to WASM with Solidity while maintaining EVM backward compatibility.