Nxxtech is a full stack proprietary blockchain architecture based on Ethereum protocol, aimed at enterprises, ready to extract business value from decentralized technologies. It was designed as a means to empower organizations with a modular, flexible and powerful solution to help them develop and easily deploy custom distributed blockchain applications. That way, Nxxtech enables any enterprise edge-to-edge operations with performance built-in, along increasing the security, overall efficiency of business processes, improved data management, better turnaround time and increased trust factor amongst the stakeholders.
Nxxtech offers a modular blockchain architecture, enabling customizable modules and private chain operability. The solution has a two-part design, based on blockchain network and distributed storage, allowing your organization to take maximum advantage of its most versatile modules.
Ethereum protocol is a public, permissionless blockchain, meaning that everyone can download the Ethereum client and participate in transaction validation. We have mutated it to build a permissioned ledger in order to achieve significantly more performance and make blockchain more appealing to businesses. The permissioned ledger consists of authorized nodes, meaning it allows only selected entry of verified participants. In addition, we`ve extended its functionality with messages i.e.. Special transactions that are only validated but not stored in the ledger and are executed on dedicated computer nodes.
DATA STORAGE LAYER
Nxxtech data storage architecture can function as a standalone solution or it can be integrated with the blockchain. It can adapt to problem specific characteristic as its hash string size is independent of the data size, meaning that even large data can be easily stored without transaction fees. The data storage is IPFS based, so that instead of referring to objects by which server they are stored, we only store the hash which we then use to retrieve the data. We`ve additionally expanded it with other functionalities, such as data encryption and access management to provide data resilience, eliminate redundancy and one point of failure.
PROOF OF AUTHORITY (PoA)
At the heart of every distributed system lies a consensus protocol that agrees to the order of new transactions in the block and represents a binding agreement between the validating nodes. Nxxtech uses Proof of Authority (PoA) consensus protocol in which only authorized nodes participate. In that process, users voluntarily disclose their identity in exchange for the right to validate. Nodes elect a leader, which has the role of validating transactions and extending the ledger. For that, PoA is more secure and energy efficient than proof of work (PoW), ensuring high speed and network scalability.
Nxxtech blockchain architecture has the potential to simplify business operations for all parties involved.
It brings you a massive gain and a competitive edge while saving your enterprise the costs for custom development,
transaction fees and knowledge-gap necessary to deploy similar state-of-the-art blockchain solutions.
Nxxtech modular blockchain architecture allows your organization an open, transparent and secure way of handling edge-to-edge entities, tracking their activity and managing inventory in a selectively accessible ecosystem. It enables tamper-resistant recording and private communication, making it the ideal platform for any large handlings and collection of sensitive data. It also solves the issue of scalability by incorporating the IPFS system, a distributed file system that operates outside of blockchain layer but communicates with it, allowing the users to store and retrieve data, all without burdening the mainchain itself.
There are a number of aspects that need to be taken into account before panning out industry-specialized blockchain solution. When designing our offer and enterprise-ready blockchain architecture that can immediately benefit you, we have taken into account all aspects and prepared various modules that facilitate easy integration and allow you to choose the stack that best reflect your needs.
IoT is a network of interrelated devices accessed through the internet, allowing their data collection, remote monitoring and control. By using Nxxtech to authenticate, authorize and gather data generated by devices, this technology enables the transformation of IoT into a network of interconnected devices which can interact without human intervention. By creating a two-way communications layer, devices can exchange messages directly on blockchain, meaning all communication happens in real time, directly machine-to-machine, with no intermediary. This way, the risk of internet devices, applications and platforms being compromised is significantly reduced.
Blockchain solves the issue of digital identity management by giving users more control over their personal information and businesses less worry about managing it. At its core, the solution allows people to have control over their personal data management when identifying anywhere online. Nxxtech combines decentralized blockchain principle and distributed storage with identity verification (KYC), allowing users to assign permissions for who and when can access their digital identity data.
Across business lines, all connected devices require management, storage and retrieval of enormous amount of data. Today, corporations rely on the dedicated server infrastructure and cloud solutions, which leads to a worrying combination of commercial dependency on enormous volumes of data being centralized. Decentralized storage works by distributing and encrypting data across a network of nodes, making it safer, immutable and protected, promising a fundamental change in how businesses can protect their most valuable data and optimize their running costs.
Smart contract is a term describing software on blockchain that stores contract terms in digital format between two or more parties. By containing a set of predefined rules, smart contract is a self-executing immutable code that can automatically enforce when certain conditions are met. It has the ability to “cut off” the middlemen and replace standardized processes that burden the administration costs of organizations. We provide the framework for developing custom smart contracts, their integration with existing software and an audit service for your proprietary codes.
dApps are a form of application framework, helping end-users to easily interact with smart contracts. They operate autonomously, with data cryptographically stored in blockchain and can remodel the backend structure of various digital products, services and platforms. The majority of dApps run on Ethereum, meaning they`re directly competing with other dApps and financial transactions for resources. In contrast, running dApps on Nxxtech brings many advantages to business logic, as the code and data on permissioned ledger are completely independent and the parameters customizable, opening enterprises new opportunities for highly-scalable non-fee market operations.
Tokenomics is a new skill, required to create the token ecosystem in which the token usage, together with your token supply and demand are defined. We help you design, generate and manage a custom-build token that will drive your business endeavors and allow to easy share and exchange value. Residing on top of Nxxtech blockchain architecture, your custom enterprise token can represent basically any assets that are fungible and tradeable. Optional integration of existing payment gateways is also possible.