Rewards

Building a Global Business Blockchain, the Choice of Businesses

edeXa offers businesses a secure and efficient Business Blockchain solution. Through partnerships with Private Sales, Venture Capitals (VCs), Strategic Partners, and public sales, we aim to strengthen the edeXa ecosystem and bring businesses into the future of blockchain technology.

The rewards system for the edeXa Business mainnet leverages the technical capabilities of Hyperledger Besu, which operates on a Proof of Authority (PoA) consensus mechanism. In this context, the process involves several intricate steps that ensure the smooth implementation of the rewards program:

1. PoA Consensus Mechanism : edeXa utilizes a PoA consensus mechanism, where a set of approved validators are responsible for confirming transactions. This consensus mechanism offers increased scalability and faster transaction finality compared to more energy-intensive protocols like Proof of Work.

2. Smart Contracts : To execute the rewards program, businesses create and deploy smart contracts on the edeXa Business mainnet. These smart contracts are self-executing contracts with predefined rules that automatically trigger actions when certain conditions are met.

3. Token Issuance and Reward Smart Contract : A specific type of smart contract is designed for issuing and managing EDX tokens as rewards. This contract defines the rules for token distribution, including the criteria for rewarding customers and partners.

4. Reward Criteria : Businesses set the criteria for rewarding customers and partners. This can include metrics like purchase frequency, partnership engagement, or other desired behaviors. When these criteria are met, the smart contract triggers the distribution of edeXa EDX tokens.

5. Transaction Execution : When the pre-defined conditions are fulfilled (e.g., a customer makes a certain number of purchases), the reward smart contract is invoked. The validators on the PoA network validate the transaction, ensuring its accuracy and legitimacy.

6. Transaction Confirmation : Once the transaction is confirmed by the validators, it is added to the blockchain. This action ensures the tamper-proof recording of the rewards distribution, providing transparency and auditability.

7. Token Transfer : As a result of the validated transaction, EDX tokens are automatically transferred from the business's account to the recipient's account. This process is executed securely and verifiably on the edeXa blockchain ecosystem.

8. User Engagement : The recipients, which are loyal customers or partners, now have access to the rewarded EDX tokens. These tokens can be used within the edeXa ecosystem for various purposes, further encouraging engagement.

By employing the PoA consensus mechanism, edeXa ensures that the rewards process is efficient and suitable for business applications. The validators, chosen for their integrity and reliability, enable rapid transaction validation, maintaining the responsiveness required for real-world business scenarios.