Supernode? Voternode? Node Problem! A quick guide to the APEX Network incentive framework
Introduction
The APEX Network is a blockchain infrastructure built for consumer data. Use cases include Marketing, CRM & Loyalty Programs, Consumer Data, Customer Experience, and Artificial Intelligence.
APEX Technologies, the company behind the APEX Network, is lead by Jimmy Hu, a Forbes 30 under 30 recipient. Recently, APEX Technologies was ranked as the top AI company in China by China Internet Weekly.
I’m personally interested in the APEX Network solution because of the ease of the Voternode incentive model available for just about everyone. All that is needed is the APEX Wallet (not yet released) and some CPX token (see available markets over at https://coinmarketcap.com/currencies/apex/#markets).
Main Network & Sidechains
The full APEX Network framework is an intricate beast — a blockchain solution split into three comprehensive layers essential in the creation of a long-term enterprise solution. For the sake of your sanity and mine, this article focuses on the Core Layer, wherein lies the APEX Main Network and Sidechains as explained in the detailed APEX Network technical paper.
The APEX Main Network and APEX Sidechains operate separately. Sidechains provide robust scalability and enable the separation of workstreams reducing overhead on the Main Network. Data and assets can transfer seamlessly between the main network and sidechains.
Consensus Model
Achieving consensus of the blockchain is paramount to ensure data integrity. APEX Network has implemented the Delegated Proof-of-Stake (DPOS) mechanism for the main network and Proof-of-Stake (POS) for sidechains.
Supernodes (also known as a Delegate) provide aggregation of main network transactions into blocks, validation of transactions by signing and broadcasting blocks, and help resolve consensus issues in a democratic manner.
Supernodes are generally reserved for the big players (APEX Core Development, System Integration Partners, Strategic Partners, and Community Contributors). They require a minimum of 2,000,000 CPX in addition to required base system specs.
Voternodes on the other hand provide voting and supervision of Supernodes within the network. They offer an incentive model without any special hardware or software requirements. All that is needed is the CPX Wallet (to be released around Testnet) and some CPX held.
Incentive Model
Supernodes distribute between 30% and 50% of profits to Voternodes, and profit distribution is then based on 1) qualified Tier, and 2) amount of CPX held.
APEX Network Voternode Tiers
- Tier Genesis minimum 400,000 CPX
- Tier 1 minimum 200,000 CPX
- Tier 2 minimum 70,000 CPX
- Tier 3 no minimum CPX requirement
Data Cloud Nodes (20,000 minimum CPX) are another incentive model available on the APEX Network. They play a critical role in storage and management of consumer data. More information on Data Cloud Nodes is available in the detailed Apex Node Ecosystem presentation.
Join the discussion over at t.me/APEXcommunity #DiscoverAPEX
More detailed information on the APEX Network can found in the:
- Detailed Technical Paper http://cdn.chinapex.com.cn/med/videos/to/APEX-Development-Plan-eng.pdf
- Apex Node Ecosystem http://cdn.chinapex.com.cn/med/videos/to/APEX-Node-Ecosystem-0622.pdf
Other APEX Network Resources
Telegram (English): https://t.me/APEXcommunity
Twitter: https://twitter.com/APEXnetworkCPX
Reddit: https://www.reddit.com/r/APEXtoken/
Medium: https://medium.com/apex-network