A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree).
By design, a blockchain is resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority. Although blockchain records are not unalterable, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been claimed with a blockchain.
Blockchain technology is a natural evolution of the mass-connected Internet technology, as a means to clean up any current tendencies for the Internet’s malevolent use which, as it is now, enable corruption, misrepresentation and personal surveillance.
SecureX is a Blockchain-based set of features and utilities that are assembled to address the malevolent Internet uses described above, and create instead benevolent technical intelligence solutions. To really grasp these examples, it is best to visit https://www.secx.net/domains.
The SecureX Blockchain, like all blockchains, uses a crypto token to pay the (very minuscule) transactional fee used for writing and authenticating each immutable record to the multi-distributed virtual chain. So it is important to create and fund said tokens. The SECX token is built upon the Ethereum Blockchain.
Ethereum is an open source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions.
Ether is the cryptocurrency generated by the Ethereum platform as a reward to mining nodes for computations performed and is the only currency accepted in the payment of transaction fees.
Ethereum provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. The virtual machine’s instruction set, in contrast to others like Bitcoin Script, is Turing-complete. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
When combined, the dual business cases, the depth and future opportunities of the domains, and the currently hot markets for a foreign IEO are the unique value adds of this opportunity.
Tokens become valuable of their own accord, based on supply, demand and the business case (in this case the SecureX Networks of vertical market domains) of the particular token. Please see the Road Map section at the bottom of the IEO page for the planned timing of the SECX SecureX IEO, and the related restrictions and processed for how to obtain tokens.