Understanding the edeXa Token
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:
Business Entity : 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 : EDX tokens can be used as a means of payment for transactions conducted within the edeXa ecosystem, such as paying for the use of their own private ecosystem.
Rewarding Customers and Partners : Businesses can use EDX tokens to reward loyal customers and partners, incentivizing them to continue to work with the business and use the edeXa ecosystem.
Governance : EDX tokens can also be used as a means of governance within the edeXa ecosystem, allowing businesses to have a say in important decisions that affect the overall direction and development of the ecosystem.
Access to Prime Dapps Marketplace : Businesses can use EDX tokens to access the Prime Dapps Marketplace within the edeXa ecosystem, where they can launch and publish their own decentralized applications (Dapps). This allows businesses to reach a wider audience and improve their product offerings. By leveraging the power of blockchain technology, businesses can also enhance the security, transparency, and efficiency of their operations.
