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.
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.
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.
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.
Yes, it’s a non-profit organization like the Ethereum Foundation.
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.
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.
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.
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.
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.