Traxion - Hyperledger Fabric Technology

ikkinobleart (28)in #cryptocurrency • 6 years ago

Introduction

In a world of digital transformation, we see great changes happen in how we share information and communicate. There are attempts to digitize many aspects of our daily lives, especially in the world of payments, peer-to-peer lending, remittance, and philanthropy.

In the recent past, blockchain technology has gained its popularity because of the hype on cryptocurrencies. Such hype has swayed a lot of startups to launch their own cryptocurrencies even without compelling fundamentals. This trend has emerged because new participants have been nimbler in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitive advantage that new players enjoy is likely to be a short-lived one as no economy of scale is put into thought.

Traxion will be offering familiar financial products and services while using blockchain to do it. Their plans include, but are not limited to, insurance, peer to peer lending, investments, payments, remittances, savings, and more. Traxion has already built 4 platform elements out of the proposed 6. These elements are the wallet, payment platform, fundraising platform, and personal finance platform. They are trying to build a long lasting platform for cryptocurrency and are focusing on eliminating middlemen, scalability, and a decentralized system. The whole goal is to bridge the gap from new difficult to use cryptocurrency technologies and traditional finance systems.

Our Technology

Blockchain aims to put data integrity among systems that don’t trust each other. This is the main reason why many start-ups are moving to decentralization, transparency and financial inclusion. There is a great potential of institutionalizing these technological developments in finance given the right approach and the proper creation of economies of scale within and among these systems.

Hyperledger Fabric Blockchain

Hyperledger Fabric, an open-source blockchain is endorsed by a consortium of large tech enterprises such as IBM, Cisco, SAP, Intel and Oracle. Hyperledger Fabric project is delivering a blockchain platform designed to allow the exchange of an asset or the state of an asset to be consented upon, maintained, and viewed by all parties in a permissioned group. A key characteristic of Hyperledger Fabric is that the asset is defined digitally, with all participants simply agreeing on its representation/characterization.

The technology is based on a standard blockchain concept - a shared, replicated ledger. However, Hyperledger Fabric is based on a permissioned network, meaning all participants are required to be authenticated in order to participate and transact on the blockchain. Moreover, these identities can be used to govern certain levels of access control. This dependence on identity is a great advantage in that varying consensus algorithms can be implemented in place of the more compute-intensive Proof-of-Work and Proof-of-Stake varieties. As a result, permissioned networks tend to provide higher transaction throughput rates and performance.

Traxion Features

Traxion payments system is intended to simplify the way funds are exchanged around the world, and to reduce settlement time from days to seconds. Each payment is immutable once recorded, and settlement instructions are provided via smart contracts on Hyperledger Fabric. The elimination of intermediaries and counterparties will naturally make any financial transaction gets through the network faster and cheaper.

Borderless
Cheaper
Faster
Agentless
Global
Scalable
Auditable
Smarter

Initial Coin Offering (ICO)

During the initial coin offering (ICO), the company will issue virtual currency tokens called TraXion Tokens (TXN) on the blockchain operated by a smart contract. The tokens for sale are on Ethereum network using ERC20 protocol.

We have chosen to do initial coin offering instead of alternatives ways to raise money because an initial coin offer not only allows us to onboard participants from different regions but also to incentivize them to promote TraXion’s products via affiliate and commission. Second, tokens provide liquidity since they can be traded on various exchanges after the ICO.

Token Distribution

50% of tokens (250,000,000 TXN) will be allocated to token sale contributors and will be transferrable when crowd sale ends;
20% of tokens (100,000,000 TXN) will be allocated to the team and will be locked by the smart contract for 12 months;
5% of tokens (25,000,000 TXN) will be allocated to the community to incentivize developers, partners, strategists, and other members of the community who wants to leverage TraXion network to build new products and partnerships.
20% of tokens (100,000,000 TXN) will be allocated to TraXion’s parent company, Pluma Technologies Ltd, and will be held as a provision for future expenses, partnerships, business development, marketing and strategic acquisitions.
3% of tokens (15,000,000 TXN) will be used to eventually create a bounty program. Unused token will be reallocated back to the reserve.
2% of tokens (10,000,000 TXN) will be allocated for corporate social responsibility (CSR). It will serve as a grant given to its trusted charity donation platform gavagives.com to be used for rewards program.

Token Sale

Start of Pre-sale: May 1, 2018
End of Pre-sale: May 31, 2018
Start of Crowd Sale: June 15, 2018
End of Crowd Sale: July 31, 2018
Token Price: 0.001 ETH
Hard Cap: 100,000 ETH