What is Vexanium (VEX)?

Vexanium is a permissionless, open-source, public blockchain protocol and smart contract platform that enables developers, users, and businesses to create blockchain-based infrastructure. The platform backend reflects a third-generation blockchain protocol built to support Dapps (Decentralized Applications), DeFi (Decentralized Finance), and many other real-world use cases of blockchain applications for startups, businesses, and corporations. Thus, Vexanium is a platform that aims to make blockchain technology accessible and applicable to various industries.  

According to its website, some of the major benefits that Vexanium provides include:  

• The Vexanium networks provide scalability and fast transactions while keeping the concept of decentralization intact. The Vexanium platform can handle more than two thousand TPS (transactions per second), whereas most blockchain platforms can only handle ten to one hundred TPS. 

• There are no transaction fees on Vexanium, unlike most platforms that charge users transaction fees each time they make a transaction. Based on the DPoS (Delegated Proof Of Stake) consensus, Vexanium prioritizes scalability and network performance by using block producers.  

• Since the Vexanium blockchain uses the C++ programming language, it is easier for programmers to create smart contracts. In the Vexanium blockchain, contract codes can be updated without involving a hard fork by using DPoS.  In addition to these advantages of the platform, to further support all operations on the platform, Vexanium introduced its cryptocurrency, the VEX coin. 

The VEX is a utility coin of the platform that can be mined on the network’s blockchain using the DPoS consensus mechanism. The coin serves many utilities on the platform and is used for:

• Governance: All decisions regarding the block produced on the network are decided by the selected nodes, and block producers can participate in decision-making about the platform.

• The coins are used to stake on the platform.

• The coins are used to give out rewards.

• VEX is used as airdrop rewards on the platform.

• The coin is used to pay a storage fee for using the blockchain service provided by the platform.

• The coins are used to pay for different services on the platform.

• VEX can be used as liquidity on different Dapps. These utilities of the coin ensure the development of a smooth operational structure on the platform, which can assist all participants on the platform.  

History of Vexanium (VEX)

Vexanium was founded by Danny Baskara, who is also the CEO of the platform. The token of the platform has a total supply of 1,008,772,305 VEX.