Topic: [ANN][PEX] Planumex Interplanetary Decentralized Blockchain & PoS Cryptocurrency (Read 357 times)

When the official version 1 will be published?
Any launch day has been scheduled yet?

The recently released white paper blown my mind away, honestly.
I thank to the team for doing this great one, and congratulate to all Planumex community.

There is a ongoing airdrop for anyone that is interested in supporting our cause, plus you earn some free PEX coins! Learn more about it here: https://bitcointalksearch.org/topic/airdroppex-planumex-pos-decentralized-cryptocurrency-earn-1200-pex-5074638

Thank you for your kind words. There are a few typos here or there as it is still a working rough draft and only version 1.

  Our official whitepaper has been release version 1.0 we encourage everyone to read it and leave their feedback. Thank you all for believing in Planumex!

Whitepaper: https://github.com/Planumex/Whitepaper/blob/master/planumex-whitepaper.pdf

You raise a great question, "What will happen to the rest of cryptocurrency?"

It will continue on as you would normally expect where people in California are sending bitcoin to those in Dubi etc. However it will not be the forefront for those coins to be sent to mars, moon, or space. The way most of the PoW and some PoS coins require a different communication structure regarding blocks and the the chain be accepted as the "longest chain" this will ultimately not insensitive mining out in space as earth miners will probably clear block times faster due to latency. So in regards to what will happen, is they will remain being used on earth as normal.

In regards to, "What planet of the solar system are you going to first establish trade relations with?"

I can only assume this was ask for a quick laugh, however we do have plans to first partner with satellite providers to host our nodes with their technology. Essentially each satellite in space would act as a public node or what we refer to as "Satellite Nodes". NASA has been developing technology to allow for laser communication which would allow us to communicate via IP to IP or Peer to Peer across these "Satellite Node". Each node will communicate the chain across space and will hold all transaction data and verify with each of the nodes on a private network the "Planumex Blockchain". Our goal is first space transactions and confirmations than we aim to have transactions confirmed and sent from the moon and potentially even mars in the very near future. You can take a look at a diagram created by NASA showing how this might work: http://blogs.discovermagazine.com/d-brief/files/2018/07/dtn-ssi.png

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You wrote. "Planumex was launched to become the main interplanetary cryptocurrency and currency for trade. As we approach the intergalactic age, the need for a single coin to be used throughout the galaxy will increase." And what will happen to the rest of the cryptocurrency? What planet of the solar system are you going to first establish trade relations with?

Thank you for your proposal. Currently at this time our primary focus is building our internal decentralized exchange for new holders to acquire or sell their claimed PEX first. Our next course of action is to intergrate with existing node service providers like yourself. However we do not have masternodes but we call them public facing nodes instead. Works in a similar fashion just not labeled or called a masternode.

Correct all NXT holders can claim 10% in PEX Coins. So if you were holding 10,000 NXT at the time of the fork you now also have 1,000 PEX.

The proof of stake consensus works a little different than most. We like to consider what most would call a masternode a public facing node. The setup is similar to a masternode and functions very similar however is not a masternode. Holders of PEX will be forging / staking their balance to verify, host, and store the entire blockchain on their server. (the entire chain is very small less than 100mb). Having more trusted public facing nodes will allow the PEX coin to never be taken down and becomes a distributed decentralized blockchain. However we need others to create a public facing node and start forging to help grow our exiting network. In turn will also increase transaction confirmations and time it takes to communicate between nodes or peers. All PoS rewards are generated from transaction fees on the network. It will cost a flat fee of 1 PEX to send any amount. These rewards are distributed to forgers / stakers of PEX.

I hope that explains things a little more.

What is Planumex & the PEX Coin?

The Planumex blockchain and PEX coin bridge the gap between interplanetary commerce. Creating the first cryptocurrency that will inter-operate between planets and be the primary currency for commerce or trade. A fully functional decentralized coin and cryptocurrency. Planumex was launched to become the primary interplanetary cryptocurrency and currency for commerce. As we approach the intergalactic age there will be an ever growing need for a singular coin to be used across the galaxy. Based on existing conditions this is nearly impossible until the Planumex (PEX) blockchain and cryptocurrency. Solving latency, speed, and communication between nodes across vast amounts of space.

The Planumex (PEX) blockchain allows for asset and token creation. Which will allow for planets and communities to create digital assets and chains that will communicate and interact with the Planumex (PEX) blockchain.

Planumex (PEX) is creating what we call “Satellite Nodes”. These nodes will be spread across space in strategic locations to allow fast and consistent transactions between planets and potentially even galaxies.

The Planumex “Dream Team” is a group of forward thinking individuals that are creating and engineering the future. Want to join our incredible team? Send us an email: [email protected]

Become apart of the revolution and join Planumex today!


Download Wallet / Host a Public Node & Earn Rewards



The Existing Problems

One of the primary problems current cryptocurrencies have that are a PoW model is transaction and block time. If you are sending a transaction from space when you are synced to the chain at say block 12893 and initiate that transfer depending on block size and confirmations of your transaction may not reach another node in time before the next block generation. Meaning that your btc will be returned and the transaction will never make it into that block.

Profitability mining in space: For example as interplanetary travel become more mainstream thanks to Elon Musk and other great inventors of our time. There will be a surge of space mining, due to lower temperatures, and large consumption of solar energy to be acquired in space. However due to the above referenced problem, mining in space again will not produce any blocks into the chain because of an enormous amount of latency and lag. Thus any miners in space will be at a significant disadvantage and will be almost useless.

Another important point is the utility that each of these cryptocurrency has created. There is not one cryptocurrency that is center around an interplanetary consensus system that allows for governance across potentially the entire universe. Majority of these chains at this large of a scale would require more than 10 million gigabytes of data in just a few years. For an interplanetary chain to really work it needs to be lean and have not only a small energy footprint but also an extremely small data footprint as well.



The Planumex Solution

Creating the Planumex (PEX) Blockchain has allowed for us to edit and change certain settings within the primary core of the chain. Planumex is a Proof of Stake (PoS) cryptocurrency that relays on communication between nodes to confirm blocks, transactions, voting, and other features within the Planumex Blockchain. The PEX chain uses a unique method to update transactions within blocks incase of a delay or longer than usual transaction. NOTE this does not allow for an account to double spend as each node has public key balances updated with every block. Which in turns means that it knows if account XXX has already sent PEX from a previous block height and will decline the transaction.

The Planumex Blockchain does not using any mining algorithms. However using a Proof of Stake consensus model that rewards those that are forging on a public facing node. This in turn reduces the need for large amounts of energy and “mining farms” to produce transactions or block rewards for those transactions.

The primary utility of the Planumex (PEX) blockchain is to allow for interplanetary transactions or commerce. We have designed our blockchain in a way that would allow for easy connection and storage of data across vast amounts of space. Each block is a total of only a few gigabytes and will slowly grow to 1mb as more transaction are conducted. Our goal is to also have a longer block time to allow for more confirmation to be included in each block. Transaction confirmation are separate from block confirmations. Each transaction will receive a confirmation that it has been received or sent and a final block confirmation to include within the chain.



Features of the Planumex (PEX) Blockchain

ACCOUNT PROPERTIES
Tags that contain a small amount of data can be set to other accounts right on the blockchain itself and contain unique (property) and non-unique (value) information. These tags can be referenced publicly on the blockchain but can also be deleted by the tagged account.
Potential Uses: public verification or endorsement, customer identification


ASSET CREATION
Assets are tokens on top of the PEX blockchain that can be created to represent anything. Transferring assets from one user to another is recorded on the blockchain and uses PEX as a transaction fee. Dividends can be distributed in PEX to all asset holders and with the same transaction fee as if you were sending it to just one account – 1 PEX.
Potential Uses: shares, bonds, vouchers, and presale claims


ASSET EXCHANGE
The PEX AE enables users to trade assets with each other in a decentralized manner. All exchange fees to post or cancel a limit order or create market order have a flat fee of 1 PEX.
Potential Uses: exchange, fundraising with sell walls


ALIASES OR ID'S
Users are able to register combinations of letters and/or numbers, such as names and phone numbers, that are set to point to their PEX account, so that other users can send to an alias instead of a long account number, a URL, or any piece of arbitrary data.
Potential Uses: decentralized DNS, data reference, simplified transactions


CURRENCY CREATION
Through the Monetary System, tokens can be created with special attributes normally associated with coins intended to be used for monetary purposes, such as requiring mining using SHA256, Scrypt, or multiple other mining algorithms, or making them controllable, where tokens are non-transferrable and can only be sent back to the issuer. Like assets, the transaction fees of these tokens are in PEX.
Potential Uses: loyalty coupons, club credits, personal funding IOUs


DATA CLOUD
Users are able to upload small files, such as small images and plain text files, into the blockchain itself, which can be accessed by anyone else. For private data, it is recommended to encrypt the file before uploading it.
Potential Uses: decentralized hash storage, open letters, notary services


MARKETPLACE
On the PEX Marketplace, users are able to purchase and list various products and services right on the blockchain itself, with no 3rd party restricting what can or can’t be listed. Prices of all goods are in PEX.
Potential Uses: marketplace


MESSAGING
Arbitrary messages can be sent between accounts on their own or as part of a transaction. Messages can be encrypted and can be unlocked with the private key of either accounts as well as by any 3rd party with the shared key, if desired.
Potential Uses: private messaging, account allocation on a centralized database (some exchanges require a message for a deposit), transaction references


PHASED TRANSACTIONS
Users can set conditional transactions and properties to delay a transaction to be executed at a certain block height, after approval from whitelisted accounts, or after a hash is announced to the network.
Potential Uses: multi-factor authentication security for accounts, shared company accounts, and automatic transactions


SHUFFLING
The Shuffling feature on PEX allows for a greater level of anonymity by having PEX, assets, or currencies from different voluntary accounts to be mixed and then have them appear on new accounts accessible with the respective passphrases created by each shuffling participant.
Potential Uses: privacy, post-distribution anonymity


VOTING
Polls can be created with up to 100 options for voters to choose from, with the ability to require more than one option be chosen. Votes can also be set to be weighed with the amount of these a user has, or restrict the voting weight to 1 per account but requiring a minimum amount of it. Alternative Voting systems are also possible where users can rank preferences with the options provided.
Potential Uses: add-on to government polling systems, shareholder voting, community decision-making


MORE COMING SOON
Planumex (PEX) is a forward thinking and driven decentralized blockchain. Submit your ideas to be heard and considered in our next release of PEX. You can also view our current projects as well. View the Planumex GitHub.



PEX Coin Details & Information
The following is information pertaining to the decentralized Planumex Cryptocurrency and Blockchain known officially as PEX. PEX is a fully functional coin used to communicate and keep record of transactions across vast amounts of space including interplanetary transactions. Most PoW chains are not able to scale to the level of Planumex (PEX).


Coin Name: Planumex
Symbol: PEX
Circulating Supply: 300,000,000 PEX
Total Supply: 1,000,000,000 PEX
Decimals: 8
Algo: PoS (Proof of Stake)
Hard Fork Date: November 19th, 2018
Block Height: 2112952
Forked Chain: NXT
NXT Holders Airdrop: 100,000,000 PEX


All holders of NXT on 11/19/18 at block height 2112952 can claim their PEX. 100,000,000 PEX was distributed to existing holders of NXT in proportion to their holdings.