Asset is Power
ChainX measures users' mining power based on the market value of BTC,DOT, ETH, ERC20, EOS and other assets that are deposited in by an inter-chain bridge. ChainX didn't organize any ICO or pre-mining event. ChainX will try to make the validators more scalable and general. ChainX will use the PoS algorithm to establish the first blockchain network that can game for a long time.
  1. Inter-chain AssetsA totally decentralized circulation for inter-chain assets.Assets are reserved by multi-sig contract or light client protocol. No one can misappropriate reserves of those inter-chain assets.
  2. 1000 ValidatorsChainX will gradually build the largest PoS network in history. Any ordinary user can run a validator node and break the networkcentric monopoly.
  3. 0% FeeThe system's decentralized exchange freely matches users' orders, which does not charge any forms of trading fee and saves user a lot of transaction cost.

System Architecture

ChainX 1.0Single-chain System
ChainX v1 had launched at May 2019 before Polkadot
ChainX is running as an independent chain and issuing PCX as the system currency. ChainX will build the most popular blockchains' bridges to integrate inter-chain assets, so that more users can participate in inter-chain mining.
ChainX 2.0Dual-chain System
ChainX v2 will launch after Polkadot releasing v1 at Q4 2019
ChainX will build a new bridge chain as Polkadot's para-chain to accomplish interoperability with Polkadot's assets and will continue supporting the community to develop various DApps.
ChainX 3.0Multi-chain System
ChainX v3 will launch after Polkadot releasing v2 at 2020
ChainX will split into a multi-chain architecture and run as Polkadot's level 2 relay network. Polkadot will focus on transmitting inter-chain messages, and ChainX will focus on mapping inter-chain assets in it
ChainX Relay Chain
It will be the highest security guarantee for whole system and responsible for the overall shared security consensus of the second layer network.
Bridge Para-chains
ChainX will split each transaction bridge into a separate para-chain to reduce pressure.
Trade Para-chain
It will freely provide matching services for all assets in ChainX and improve transaction throughput.
DAPP Para-chains
Various applications developed by the community will run independently and maintain inter-chain communication capabilities.

Economic System

The total amount of crypto currency (PCX) issued by ChainX will be 21 million, which is halved every two years.

20% of the first two years circulation is owned by the founding team for ongoing development funding. After two years, the chain will be fully owned by the community, so the founding team will only own 10% of the total.

The assets (BTC, ETH, etc.) in ChainX that user deposit in through inter-chain bridge will automatically convert to PCX value according to daily average price,then ChainX will issue new PCX according to the total market value of users'assets.

The PCX that user mined can be used to pay for miner's fee and validator's deposit, vote for validators, and act as intermediate currency for trading some minority assets.

Polkadot's investors can map the DOTs on Ethereum into ChainX, and participate in inter-chain asset mining with BTC depositors. ChainX will preheat the Polkadot ecology in advance.

Participant

Inter-chain User

deposit assets by inter-chain bridges, measure the market value uniformly, participate in the system mining automatically, and enjoy the 0% trading fee.

Voting User

use PCX to vote on sync nodes, elect trust nodes and validator nodes and get voting rewards, but at the same time bear the penalty of nodes' evil actions such as offline.

Validator Node

The top 1000 nodes sort by total votes. They are responsible for processing all users' transaction and producing the block which will obtain 10% of the user's voting mining revenue。

Trust Node

The top 15 validator nodes sorted by overall strength. They are responsible for joint hosting the user's inter-chain assets. They are the most important core community leaders in the system.

Sync Node

The remaining nodes sorted by total votes. They are responsible to run a sync node for accepting of the transaction and broadcasting chain data. They will receive the same proportion of reward as the validators.

Deposit Portal

All types of wallets and community developers can help usersto do inter-chain account binding. They will receive 10% of the reward from users' deposit assets mining。

Inter-chain Relayer

Anyone can submit block header and related inter-chain transactions from each asset chain into ChainX's light client. ChainX will choose legal inter-chain transactions based on the consensus algorithm of the original chain.

Developer Community

Developers can use the latest contract technology to develop DApp for various assets such as BTC, ZEC, EOS, etc. to unleash the unique capabilities of different assets.