What is DEXON?
DEXON is a distributed ledger technology based upon a block lattice architecture and using the DEXON consensus algorithm to provide an infinitely scalable, permissionless decentralized platform for 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 are based on an obsolete structure that processes transactions linearly, block by block, that is difficult to scale. Current blockchain technology’s inability to scale severely limits the potential and sustainability of DApps that use their architecture.
What is block lattice technology?
The block lattice 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 block lattice better than blockchain?
In existing blockchain technology each validator adds blocks to one long chain. In the block lattice structure each validator has its own blockchain that can communicate with one another. These blockchains create blocks in parallel which increases the speed and safety of transactions.
What is a delegated proof-of-stake consensus algorithm?
Delegated Proof of Stake (DPoS) is the fastest, most efficient, most decentralized, and most flexible consensus model available. DPoS leverages the stakeholder's voting power to resolve consensus issues in a fair and democratic way.
How can DEXON be infinitely scalable?
DEXON’s block lattice 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 Designated Proof of Stake design of DEXON uses vastly less energy than the Proof of Work algorithms by not relying on computing power to stake coins.
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.
Is it possible to launch the DEXON engine by the first half of 2019? Why does it take 1.5 years?
Unlike centralized systems, careful unit tests, simulation tests, and code reviews are mandatory in building an open platform that is fully decentralized. We need to ensure that everything is stable and secure, and it takes time. The PoC, SDK, and reference examples will be released much sooner.
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.