Nework NKC to XMax XMX Exchange

Crypto Pair Details: NKC to XMX

Nework NKC

The bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol. Users send and receive bitcoins, the units of currency, by broadcasting digitally signed messages to the network using bitcoin cryptocurrency wallet software. Transactions are recorded into a distributed, replicated public database known as the blockchain, with consensus achieved by a proof-of-work system called mining. Satoshi Nakamoto, the designer of bitcoin claimed that design and coding of bitcoin began in 2007. The project was released in 2009 as open source software. The network requires the minimal structure to share transactions. An ad hoc decentralized network of volunteers is sufficient. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will. Upon reconnection, a node downloads and verifies new blocks from other nodes to complete its local copy of the blockchain. A bitcoin is defined by a sequence of digitally signed transactions that began with the bitcoin's creation, as a block reward. The owner of a bitcoin transfers it by digitally signing it over to the next owner using a bitcoin transaction, much like endorsing a traditional bank check. A payee can examine each previous transaction to verify the chain of ownership. Unlike traditional check endorsements, bitcoin transactions are irreversible, which eliminates the risk of chargeback fraud. Although it is possible to handle bitcoins individually, it would be unwieldy to require a separate transaction for every bitcoin in a transaction. Transactions are therefore allowed to contain multiple inputs and outputs, allowing bitcoins to be split and combined. Common transactions will have either a single input from a larger previous transaction or multiple inputs combining smaller amounts, and one or two outputs: one for the payment, and one returning the change, if any, to the sender. Any difference between the total input and output amounts of a transaction goes to miners as a transaction fee. In 2013, Mark Gimein estimated electricity consumption to be about 40.9 megawatts (982 megawatt-hours a day). In 2014, Hass McCook estimated 80.7 megawatts (80,666 kW). As of 2015, The Economist estimated that even if all miners used modern facilities, the combined electricity consumption would be 166.7 megawatts (1.46 terawatt-hours per year). To lower the costs, bitcoin miners have set up in places like Iceland where geothermal energy is cheap and cooling Arctic air is free. Chinese bitcoin miners are known to use hydroelectric power in Tibet to reduce electricity costs. Various potential attacks on the bitcoin network and its use as a payment system, real or theoretical, have been considered. The bitcoin protocol includes several features that protect it against some of those attacks, such as unauthorized spending, double spending, forging bitcoins, and tampering with the blockchain. Other attacks, such as theft of private keys, require due care by users.

XMax XMX

XMax is an all-in-one development ecosystem which makes it easier for entertainment industry developers to create DAPPs. We believe in the future of blockchain technology and know that by providing developers with a set of easy to use tools and the knowledge to use them we can share blockchain applications with a global user base. XMax is a blockchain and developer ecosystem for building decentralized games and entertainment DAPPs. Our blockchain supports game developers with a high TPS mainchain and integrated sidechains for transaction-intensive DAPPs. XMax Includes: Game & Entertainment DAPP SDK, APIs, Smart Contract and DAPP Templates, 3D Game Engine, Developer Docs & Education. With XMax developers can program complex DAPPs (Blockchain APPs) using WebX.js, a JavaScript type language which our team created to simplify blockchain programming. With WebX.js developers can focus more on creating great applications and less on blockchain infrastructure. Once a DAPP has been created, users will be able to easily download it from the XMX APP Store. We make this experience as simple as opening your phone. XMax is a decentralized ecosystem which allows DAPP developers to involve users in the design process and via Asset Tokens crowdfund the development of their projects. We believe the future of blockchain technology belongs to developers and users.

SOURCE: COINGECKO

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