Apex (CPX)’s incredible new whitepaper
A few days ago, Apex (CPX) released their new whitepaper, detailing some ambitious plans for the coming months, and years. The updates are extremely impressive, and present an incredible roadmap for the team to work towards. Since surfacing, Apex, and their CEO Jimmy Hu have consistently shown that they are a project with audacious goals, and the ability the meet these goals.
Additionally, Apex’s product vision is becoming increasingly relevant as we’ve seen a rising trend of data breaches, misuse of consumer data, and general negligence with personal information on the internet.
I wanted to write this to give a brief analysis of their new whitepaper, and a look ahead to the next few months.
I’ve been interested in Apex since I first learned about them in late 2017. They’ve run an impressive PR campaign, built a trusting community, and continuously hit project timelines.
Apex (CPX) currently trades on Switcheo, and Lbank (of these two, I highly recommend Switcheo), with a market cap of roughly $40 million. Given the scope and scale of the project, I expect it has a lot of room to grow as their roadmap unfolds, and more partnerships and exchanges are announced.
Consumer Data Ownership
It has become increasingly evident that the current model of centralized consumer data will not cut it going forward. Centralized consumer data has lead to breaches like the 2017 Equifax data breach, which leaked close to 150 million people’s personal data. Beyond breaches, misuse of centralized consumer data by companies like Facebook impacted 50 million users, and is suspected to have heavily influenced the American election (and we know how that turned out 😱).
Apex’s Transactional Data Management System (ATDMS) provides functionality to encrypt data, fine grained access control, and identity management. These three items mean more security and transparency into how and when data is used, and by who.
Partnerships and Brand Network
Alibaba Cloud, AWS, Microsoft Azure, Oracle, Baidu, and Tencent are just a few of the partnerships Apex has disclosed thus far. There are times in crypto when partnerships are all for show, but CPX has carefully chosen partners that align with their goals, and give them the scale necessary to build their platform. To quash any doubts about the validity of these partnerships, Apex has detailed each relationships in this easy to digest document.
In addition to strong partnerships, Apex has a massive brand network who will pilot the Apex platform. Brand partners include everyone from Hilton Hotels and Maserati, to L’Occitane and DBS. In short, they have massive brands lined up to pilot the platform.
This article could have easily focused entirely on the technology powering Apex (will do this as a follow-up), but for now, I wanted to highlight some of the key takeaways regarding the platform, and the tech behind it.
- Powerful platform model with sidechains built in. This means the main network remains robust, while enterprises can scale sidechains independently, mitigating risk of a single enterprise client affecting the entire blockchain.
- DPOS consensus (for main network) and POS (for sidechains) means community driven main net evolution, with enterprise clients on sidechains running Proof of Stake.
- Robust developer tooling and ecosystem — flexible middleware, ApexM (XML-based), and Java, Go, and Scala SDKs. Technologies used by the majority of large-scale enterprises, not some made up proprietary language.
- Cross-network DEX — Native to the platform, providing the ability to swap and trade any network assets. Similar DEX structure to Kyber.
- Supernodes — split into three tiers: T3 — no minimum requirement on CPX held — T2 — minimum 70,000 CPX required — T1 — minimum 200,000 CPX required. Excellent incentive to hold.
Let’s talk about Jimmy Hu. Apex’s renowned CEO is one of Forbes’ 30 under 30 in China for his work on Chinapex, and he’s been making waves in crypto communities for his bold statements on the company’s future.
From kiboshing listing on lesser exchanges (Kucoin), to stating his bold vision to one-day move off of NEO to fit their future ambition, Jimmy isn’t afraid to say the hard things. It is evident that he is optimizing for the long term success of Apex vs. short-term hype.
Apex also has an impressive advisory team who should help to open doors to even stronger partnerships going forward.
We’ve seen a flood of blockchain projects that tout big promises, but I’ve yet to see a project like Apex that checks so many boxes when it comes to success markers in the cryptocurrency space. While it is still early, they have consistently overdelivered on all of their promises, and I expect to see this trend continue.
Apex evidently is not a company that plans to fit the traditional mold of crypto success, and at a time of overall market uncertainty, this is exactly what we need.