ProximaX Sirius Launches Blockchain Test Network

GIBRALTAR / 15 NOVEMBER 2018 – ProximaX today announced that it has deployed 5 nodes for its blockchain testnet. This testnet is based on the NEM Catapult private chain which has been augmented and amended to suit the requirements of the Proximax Sirius platform. ProximaX has included in this testnet a Proof of Stake - PoS, which was adapted from the NXT project. ProximaX decided to use PoS instead of Proof of Importance - PoI, because it believes that the PoS will work just as well. Further, PoI has shown to have little impact the on overall score and is closely related to PoS. Eventually, the PoS will only be one part of the equation that forms the Proof of Conflation Aggregate - PoCa.

Leading to their main network launch, the testnet shall be used as a staging environment so that all changes and amendments can be tested by everyone in the community thoroughly. In carrying out this testing, it is hoped that all security issues  can be highlighted and addressed before moving to the main network. 

At the same time, ProximaX believes that this will be monitored closely by the NEM core development team. In so doing, it is hoped that they will learn from ProximaX’s experience, thereby making the NEM mainnet a better solution.

Lon Wong, CEO of ProximaX, “The launch of the blockchain testnet component is a very important element of the ProximaX Sirius platform. It gives rise to a break-through in the holistic offering of the ProximaX Sirius platform mainnet. With this, we are confident that we will be able to launch the mainnet successfully, thereby achieving our roadmap targets.”

Key Updates On The Blockchain

The blockchain has been made to be consistent with NXT and further optimized by changing a few object (list to deque) usage as follows:

• New PoS Implementation based on NXT.
• Updated the AccountBalance and AccountState.
• Calculation of the Effective Balance by using the ImportanceView.
  • EffectiveBalance calculation was changed based on NXT to return the effective balance for `1440` blocks instead of `1440` + `720` blocks.
• Base targets stored as difficulties in BlockDifficultyCache.

Future Updates

In addition to this staging platform, ProximaX has planned a few more major releases in the coming months. This includes the integration of the reputation system, new transaction types (such as super contract/smart contract extensions) and of course, an upstream upgrade from NEM Technology.

Upcoming updates to the testnet are:

• Merge new changes from NEM (`Bison`)
• New Multisignature Transaction Type for ProximaX Reputation System
• Storage Specific Transaction Types
• Streaming Specific Transaction Types
• Super Contract Transaction Types
• Tools such Blockchain Explorer and a Simple Wallet.

To know more about the ProximaX Sirius testnet, visit our blog at: https://blog.proximax.io/proximax-sirius-blockchain-test-network/