Bexam-Augmenting Adoption of Blockchain And Cryptocurrencies In The Real World

michades97 (45)in #blockchain • 5 years ago (edited)

Introduction

Data management and security is everybody's business, whether it be a corporate firm, a financial institution, a government body or an individual, we all crave for some level of closure. Little wonder that most 21st century businesses invest a lot in information technology (IT), if only to avail a robust database infrastructure that is both cost-effective and highly secured. Its no rocket science that if they (businesses) are able to achieve this and make it their core competency, aside winning over an avalanche of investors and partners, it would help to cut back on certain costs, e.g advertising cost, external network consultancy and maintenance fees, amongst many others.

Evolution of Data Management & Security Practices

As far as an average computer literate knows, a typical database comprises of a wide array of data segregated by fields, which could be anything. For example, a hospital's database will most likely contain patients' medical record.
Interestingly, these databanks are backed by giant mainframes and dedicated servers. And in all fairness, they have served us very well. Although, given the flow of operation in reality, it appears that the IT geeks, are in best position to give an appraisal, since they are the actual ones behind the wheel. But given the fact that user experience has been relatively satisfactory till now, that is aside the occasional incident of hacks, mechanical server breakdowns, and co. that plagues the system, it can still earn a pass mark.

Perhaps, it might also interest you to know that until the concept of cloud computing became mainstream and adopted by big data giants like Google, the above mentioned were the only options available to businesses and institutes, if they were ever going to meet the needs of their clients and deliver unbeatable customer service.

Centralisation of data

Well, of recent we're gradually learning of just how important and valuable data really is. Thanks to emerging blockchain solutions and conceited studies, the alleged backdoor activities of big data moguls like Google and Microsoft is no longer a secret. For one, exploitation and consequent tradeoff of customers data is hardly news anymore.

From the foregoing, its obvious that a centralised data management model is not cutting it at all, hence the need for a more viable option. Amazingly, we already have a formidable candidate in the bespoke regard- blockchain technology.
Blockchain technology is a sort of distributed ledger technology, I.e it is publicly-sourced, transparent, immutable, etc. The fact that it has a widespread of multiple use cases and is unaffected by geographical displacements makes it an even more fit candidate. One of the major setbacks however, is it's excess energy requirement and slow processing speed, which altogether diminishes its chances of application in the real world.

What then?

Despite the shortcomings of existing data management systems and blockchain technology, BEXAM is committed to making sure that businesses are able to grow organically without fear of network breach or control usurp. To this end, the team has availed a blockchain/DAG hybrid solution that is by far superior to existing ones.

BEXAM SOLUTION

BEXAM is a novel, revolutionary blockchain brand that leverages on the scalable, and optimisable feature of the directed acyclic graph (DAG) to meet the needs of major tech-oriented business enterprises.

The platform will have its native token; BXA, which will be used to service transaction fees, stake as a valldator and likewise earn staking rewards. By structure and default, BEXAM will be able to serve multiple use cases and hopefully facilitate the adoption of blockchain in the mainstream.

BEXAM's architecture is quite unique from a host of other platforms and this further rebuffs it with many interesting features that will prove beneficial for many businesses and enterprise in the real world.

High Processing Speed

Simply put, the blockchain-DAG hybrid architecture is a means of achieving a decentralised data legislation model that simultaneously enjoy the perks of a typical DAG system. One of these is ultra-sonic processing speeds. Imagine how mind-blowing it would be to have a database and network facility that is not monopolised by a central party, rather, shards (fragments) are distributed across the network and the processing happens at light speed. Notably, BEXAM's block processing is 0.2sec.

Energy Efficiency

For the most part, BEXAM platform is reliant on super and master nodes, which is based on the revolutionary 'proof of rounds' consensus protocol. Here, mathematical calculations are of little significance, instead permutations are employed for node selection and validation. As these nodes only require minimal computing power, hence the electricity consumption is low compared to the likes of Bitcoin.

State-of-the-art security infrastructures

In order to enjoy full-access to BEXAM's platform, interested persons are required to complete the 'Know-your-customer' (KYC) process as required by SEC. To a large extent, this would help to mitigate the incidents of malicious activities such as frauds and forged identity.

In addition to this, every user will be provided with two wallets. BEXAM will be entirely responsible for the security of the first. Afterwards, users can choose to switch to the other one, but the actual wallet owner will be responsible for it.

Conclusion

Blockchain is a novel technology that portents a lot for many economies, businesses, and individuals together. Unfortunately, it has remained in the shadows for far too long. Until now, several blockchain brands have tried to improve on the efforts made by Satoshi Nakamoto (founder of Bitcoin), all to no avail.

In light of BEXAM's antecedent and the detailed manner that it is set to run, it might eventually prove to be the game changer that we've (corporate firms, the teeming industrial community and blockchain) long sought for. Personally, I hope it supersedes public expectations.