ONEX Network – Proof-of-Stake Token on Ethereum Classic Network

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INTRODUCTION

There is no explicit description of the blockchains in the cited applications. But the blockchains of cryptocurrencies are well understood. As Satoshi Nakamoto writes, they are needed to enable “electronic transactions without relying on trust.” A complete, immutable public record of transactions is not a design goal in cryptocurrencies (Nakamoto, 2008).

Nakamoto wrote that “To accomplish this without a trusted party, transactions must be publicly announced.” (Dai, 1998). Blockchain promises to solve this problem. The technology at the heart of bitcoin and other virtual currencies, blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. The ledger itself can also be programmed to trigger transactions automatically. Bitcoin is one of the best samples but has some disadvantages. Those are Turing incompleteness, value blindness and verification time. Turing incompleteness is simply the inability to use the while and for statements.

As more technological innovations are uncovered, ONEX, a token created by Highlander Network the same network that brought you “ONE” token has arrived. The first max 1 supply token created also for the Ethereum Classic Platform.

ONEX is based on the ERC223 Token Standard which rejects non-supported tokens eliminating the potential for confusion and lost tokens. As an Ethereum Classic token, ONEX implements the Proof-of-Stake mechanism, meaning that every holder can earn some extra tokens just by holding ONEX for a period of at least 3 days, greater than or equal to the Minimum Coin Age.

 

About ONEX Network?

ONEX is a token created by Highlander Network the same network that brought you “ONE” token. The first max 1 supply token created also for the Ethereum Classic Platform.

Highlander Network bringing Proof-of-Stake “ONEX” Token to Ethereum Classic platform.
While keeping tokens holders protection in mind, ONEX utilizes ERC223 token standard.

ONEX isn’t the first to implement the Proof-of Stake mechanism but ONEX are the first to
implement PoS as a ERC223 token and bring it to Ethereum Classic platform. Holders of
ONEX can get revenues by holding ONEX for a period of time.

Again, ONEX is based on the ERC223 Token Standard which rejects non-supported tokens eliminating the potential for confusion and lost tokens. As an Ethereum Classic token, ONEX implements the Proof-of-Stake mechanism, meaning that every holder can earn some extra tokens just by holding ONEX for a period of at least 3 days, greater than or equal to the Minimum Coin Age.

ONEX Staking Guide

Start learning about staking ONEX.

Holding

Holding some ONEX for a period of at least 3 days, greater than or equal to the Min Coin Age.

Staking

ONEX provides two methods to trigger ONEX staking:

  1. Sending a transaction to your own address with any amount of ONEX.
  2. Using our ONEX Calculator that can interact with contracts to execute mint() function.

Query Tools

The main feature of the ONEX Token is its ability to stake. Coin Age is equal to the number of tokens plus the number of days you HOLD the tokens for.

About The ONEX Token

ONEX is a token created by Highlander Network the same network that brought you “ONE”
token. The first max 1 supply token created also for the Ethereum Classic Platform.
ONEX is based on the ERC223 Token Standard which rejects non-supported tokens
eliminating the potential for confusion and lost tokens. As an Ethereum Classic token,
ONEX implements the Proof-of-Stake mechanism, meaning that every holder can earn
some extra tokens just by holding ONEX for a period of at least 3 days, greater than or
equal to the Minimum Coin Age.

Specifications

● Name: ONEX Network
● Symbol: ONEX
● Decimals: 18
● Standard: ERC223 & PoSTokenStandard
● Initial Supply: 1,000,000 ONEX
● Distribution: Free Airdrop, Bounties
● Minimum Coin Age: 3 Days
● Maximum Coin Age: 90 Days
● PoS Annual Interest:

Max Total Supply

The Max Total Supply of ONEX is set to 10 Million, but we just created 1 Million ONEX as the
Initial Supply. The Max Total Supply will only be reached in about 15 years or a little longer
at the set PoS interest rate. Once 10 Million is reached, no more ONEX will be generated via
Proof-of-Stake.

Distribution of Tokens

After the contract deployed, only 1 Million ONEX, 10% of the Max Total Supply, will be
created as the Initial Supply.

Update: 1/28/19

  1. Dev moved 200K ONEX from Free Airdrop wallet to Bounties Wallet and
    changed allocation. Reason: To give a chance for more ONEX to be
    allocated to Bounties.

● Development: 100K
● Marketing: 50K
● Bounties: 250K
● Free Airdrop: 300K
● Future Implementation of Dapps: 300K

ROADMAP

For more information, please visit:

Website: https://onex.network

Whitepaper: https://onex.network/onex_whitepaper_1.1.pdf

Twitter: https://twitter.com/onexnet

Facebook: https://www.facebook.com/onexnet

Telegram: https://t.me/onexnet

Reddit: https://www.reddit.com/r/ONEXNetwork/

 

AUTHOR

Bounty0x Username: yetty10

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yetty10

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