CRYPTONEX

What is Cryptonex?

Cryptonex is the next generation of decentralization, cryptocurrency, and the blockchain. Think about buying goods online with a cryptocurrency different from bitcoin and etherium. If you like to do that, you really have to go through several processes like passing through exchanges. This would incur significant transaction fees. With Cryptonex, you do not need to do all that. A bank in the blockchain, Cryptonex allows anyone exchange any currency in the world for any cryptocurrency that exists. Cryptonex’s goal is to reach a point where they would acquire a bank and become a platform where people can buy fiat currency.

Background

A group of international financial experts with a vision of a new generation of cryptocurrency and the blockchain created Cryptonex. The overall objective is that Cryptonex will eventually stand at the center of the blockchain, exchanges, crypto coins, blockchain-services, mining pool, banks, mobile applications and more. Cryptonex allows users buy goods and services using mobile phones and payment cards instantly with low transaction fees. By design, the maximum number of cryptocurrency possible is 210milion. 85milliion of these coins will circulate freely through ICO, website, and exchanges. 15million CNX is the budget for the Cryptonex bounty program. The bounty program is Cryptonex’s unique way of promoting itself and the platform while engaging the growing Cryptonex community. The program will reward creativity, protection, and promotion of the platform. The Cryptonex team plans to announce a contest for the best website design and mobile application interface to drive competitiveness and select the best. Programmers are also included in this program. Cryptonex does not claim to be perfect. It publishes its codes as open source. This means anyone good enough to take it on can be rewarded for telling Cryptonex what is not right about what has been done. Translators can also get rewards for making Cryptonex popular by creating Cryptonex content in their native language and spreading the community. Cryptonex encourages unique ideas. Any idea brought up by anyone that has the potential of unleashing the cryptocurrency will get the support of Cryptonex.

The Tech

Cryptonex employs a unique scrypt algorithm also employed by other cryptocurrencies like litecoin. The security of the crypto algorithm makes Cryptonex highly reliable. The scrypt algorithm design makes it so difficult and prohibitive for attackers to compute the specific key derivation function required to access the hardware on which the system operates. For legitimate users, however, just authentication is required. The Cryptonex system also offers the proof-of-stake capabilities. Its mining pattern allows users to store their coins and get a fixed reward to their back office. Users can spend this reward on any store in the world to make purchases. The proof of stake capability also makes transactions fast and efficient taking only a couple of seconds.

The Bitcoin Comparison

Cryptonex is different from the most popular cryptocurrency—Bitcoin in many ways. From the code to the market, the biggest and only similarity might be the blockchain technology used by both. Bitcoins SHA 256 algorithm is fraught with several problems like scalability and block-time limitations. This makes an attack very likely on the original bitcoin network. The proof-of-stake scyprt algorithm employed by Cryptonex makes it more difficult for attackers and reduces transaction time altogether. Litecon, although similar to bitcoin increased its maximum possible coins to 84million, 4 times bitcoins maximum of 21million. Cryptonex is about 10 times bitcoins maximum supply and more than twice of litecoins. This would seem inflationary, except that by application and use cases, Cryptonex would prove the most important.

Where to buy Cryptonex

Cryptonex is available on HitBTC and YoBit.net. Although, the latter is most popular going by the level of market activities in the last couple of days. Coinclarity also provides a list that includes EtherDelta, Liqui, and Changelly.

Wallet Options

The Cryptonex wallet for MacOS, Windows, and Linux may be the only options available at the time of writing this article. The can be downloaded and from the Cryptonex website.

What the Future Holds

Cryptonex is an innovation. That is right in many respects. The cryptocurrency seems to be taking up what could unarguably be the biggest in the blockchain revolution. Cryptonex wants to bring the entire crypto space together that is actually big and its recent steps in that direction affirm that it is really working to achieve this. One Cryptonex sells for $8.90 at the time of writing this article. If the objective of the destination of the blockchain is efficiency and simplicity all in a single package, nothing stops Cryptonex from doubling its current price by up to 70 or 80%. ~