What’s Upcoming for MargiX?
Although we are offering a futuristic technology with an array of practical use cases for crypto traders, MargiX has some (even more) robust future plans — the launch of our very own blockchain network.
So, in this article, we will focus on the properties of MargiX Chain and explain how a mainnet swap in the future could bring a plethora of benefits for MargiX users.
What Is the Motive Behind MargiX Chain?
The primary reason why we are so inclined towards conducting a mainnet swap in the future is to offer an entirely new generation of blockchain. Our native chain will utilize the pros of all existing solutions while adding an array of features to make it stand out of the market.
Please note that the aim is to bridge up the gap between real-world requirements and technology, hence allowing pretty much every practical use case to be mapped on our solution.
How Do We Offer a Comprehensive and Better Solution?
Well, this is where we plan to take a lead, but please be advised that a variety of below-mentioned features are common to several other blockchains as well. However, a major distinction is that we have improvised the existing technology to suit our purpose.
Multiple Layers
The core of our to-be blockchain depends on multiple layers, unlike ordinary solutions in the market right now. Just to set the perspective, it would allow MargiX to split the number and nature of tasks between each layer, thus facilitating more efficiency. Apart from that, this feature will also play a pivotal role in lowering the transaction cost which will position us as one of the most economical ventures in the crypto sphere, from the user perspective.
Primarily, the architecture has MainChain at the forefront which its tasked with enhancing the transaction efficiency by harnessing the power of Radiating Blocks Graph — it also boosts security. To clue you in, this very chain is also responsible for nesting all the mainstream nodes required for performing validations and verifications before registering a transaction on the public ledger.
The second chain, aka RepChain, contains all of our supernodes and as the name suggests, their duty is to get rid of any potential bottleneck situation on the network as their computational power is considerably higher. Moreover, the complex nature of these nodes also makes it extremely difficult to execute a 51% attack on the network.
It is also worth noticing that as a whole, our RepChain is programmed to act as a sidechain, thus facilitating communication between a variety of blockchains and preventing the blockchain industry from becoming ‘centralized’ or ‘clustered’.
Information Reusability
With the help of our dedicated layer, deployed to store the information of members, the users no longer have to worry about the security of their sensitive data since this layer carries plenty of additional measures, incorporated solely to elevate information security.
Even as of yet, we have KYC onboard but the drawback is that users have to enter their ID information every time, which is not preferred by most of the users. However, with our dedicated layer, your profile will be created once and the information will be fetched automatically whenever authentication is required while storing the data in a highly secure environment.
Greater Security
We plan to upgrade our security measures on the native blockchain by implementing the EdDSA curve, running on Elliptic Curve Cryptography, and this curve aims to enhance the security of digital signatures.
Furthermore, talking about the private keys, MargiX Chain is programmed to create a unique string of 256 bits against each key and these are randomly generated in order to remove the chances of prediction. Just to clue you in, here are the steps that we imply to derive a public key:
- H(k) = (h0,h1,…,h511)
- a=2²⁵⁴+ ∑3≤i≤253²hi
- A=aB
Conclusion
Apart from all of the advantages mentioned above, please note that MargiX Chain will also be loaded with Proof of Work, Proof of Stake, Dedicated Proof of Stake and Proof of Truth (used explicitly at the RepChain).
So, it is pretty evident that MargiX Chain is quite a decent and robust blockchain that does not only nest the pros of existing networks but provides its own flair as well in terms of efficiency, security, and scalability. However, it must be remembered that even though the development is in progress, it will be rolled out a later date when the management decides to go for a mainnet swap.
Therefore, if you look at it, apart from advancing the overall architecture for MargiX, our blockchain would also pave way for future collaboration between the stakeholders in the IoT industry and make communication between different networks a bliss. As a result, the blockchain industry that is currently quite centralized due to every group running its own protocol would be able to get out of the box and work mutually on a grand scale.
Support requests please send to: support@margix.org
Find us on social media:
- Official Website: https://margix.org
- Channel: https://t.me/MargiXchannel
- Group EN: https://t.me/MargiXglobal
- Group KR: https://t.me/MargiXkorea
- Group TR: https://t.me/MargiXturkey
- Medium: https://medium.com/margix
- Github: https://github.com/margix
- Twitter: https://twitter.com/MargixMGX
- Youtube: https://www.youtube.com/c/Margix
