Reward system with edeXa Public Blockchain
Reward system with edeXa Public Blockchain
The edeXa Business Blockchain network has implemented a unique rewards system to incentivize participation from Businesses to secure edeXa Public Blockchain. Unlike other blockchain projects, we do not rely on a proof of stake model. Instead, we use a PoA consensus mechanism to verify transactions on the network and add blocks to edeXa Public Blockchain. Businesses which are a part of our validation network, can earn rewards in the form of EDX tokens.
What are EDX rewards and how does it work?
The edeXa Public Blockchain ecosystem uses a unique consensus mechanism called Proof of Authority (PoA) to validate transactions and secure the network. PoA relies on a number of trusted Businesses validators, known as masternodes, to validate transactions and add them to the blockchain. These masternodes are selected based on their reputation, reliability, and technical expertise, and they are responsible for validating and confirming transactions on the network.
In order to earn EDX tokens as a masternode, the node must first be selected and approved by the edeXa network. Once selected, the masternode can begin validating transactions and earning rewards in the form of EDX tokens. It's important to note that masternodes in the edeXa ecosystem have an important role in maintaining the security and reliability of the network. As such, they are expected to meet certain standards of performance and reliability, and failing to do so can result in penalties or even removal from the network.
When Businesses receive the rewards as EDX, they can use them inside of edeXa ecosystem as:
Access to Premium Services : Businesses can use EDX tokens to access premium services offered within the edeXa subscription plans, such as advanced Dapp tools, marketing insights, or customized whitelabel solutions.
Payment for Transactions : Businesses can use EDX tokens to access premium services offered within the edeXa subscription plans, such as advanced Dapp tools, marketing insights, or customized whitelabel solutions.
Rewarding Customers and Partners : Businesses can use EDX tokens to access premium services offered within the edeXa subscription plans, such as advanced Dapp tools, marketing insights, or customized whitelabel solutions.
Governance : Businesses can use EDX tokens to access premium services offered within the edeXa subscription plans, such as advanced Dapp tools, marketing insights, or customized whitelabel solutions.
Access to Prime Dapps Marketplace : Businesses can use EDX tokens to access premium services offered within the edeXa subscription plans, such as advanced Dapp tools, marketing insights, or customized whitelabel solutions.
