Naxion price

NXN

#4950

(Since I have not been given Google docs permission to write down the coin circulation amount, I am writing the approximate figures here.)

As of 1 July 2024, Naxion has created approximately 7,421,790 blocks since the genesis block was created on March 31, 2021, and the block time is approximately 5 to 7 seconds. Naxion has a structure the 5 NXN are mined for every 1 block created. Currently, the total mining amount is 37,108,950. You can see this Naxion scanner : https://blockscan.naxion.info

Because Naxion is a public network, anyone who wants to participate in the project can open a node, join the network and receive NXN as a reward. So, it is difficult to accurately check the market circulation volume.

However, if limited to the Naxion team(including founders, partner companys, advisors, and development team), the number of coins held by the Naxion team is approximately 10,627,388, and the lock-up is scheduled to be released sequentially and distributed in the market by July 7, 2026. Currently, 15% of the team's stock has been released to the market, 50% of the stock will be released on July 7, 2024, 75% will be released on July 7, 2025, and finally 100% will be released on July 7, 2026.

Naxion is a cryptocurrency that was launched by a project team in Korea on March 31, 2021. It serves as a decentralized application platform, supporting smart contracts and enabling applications to be usable on the web. The network operates on a Proof-of-Work (PoW) consensus algorithm, which is traditionally known for its decentralization benefits. NXN is the native utility token within this ecosystem, primarily used for gas fees associated with processing transactions and storing data on the network.

A notable aspect of Naxion is its approach to overcoming the limitations commonly associated with PoW systems, while still adhering to the principles of decentralization. It achieves this by integrating secure node technology developed in-house, allowing for transaction processing speeds comparable to those of Proof-of-Stake (PoS) methods, with a maximum throughput of 1500 transactions per second (TPS). This innovation enables Naxion to offer fast transaction speeds and low gas fees without the need for a separate Layer 2 solution, fostering an independent network ecosystem. Additionally, the network is designed to be eco-friendly by restricting access to ASICs and thus reducing unnecessary power consumption beyond what is required for node operation.

Since its inception, Naxion has generated approximately 5,864,000 blocks, with a block time of about 5 to 7 seconds. For every block created, 5 NXN tokens are mined, leading to a current total mining amount of 29,320,000 NXN. The network's public nature allows anyone interested in participating to open a node, join the network, and earn NXN as a reward, making it challenging to ascertain the exact volume of NXN in market circulation.

The Naxion team, including founders, partner companies, advisors, and the development team, holds approximately 7.97 million NXN tokens. A lock-up schedule is in place, with a plan to release these tokens to the market gradually by July 7, 2026. As of now, 15% of the team's holdings have been released, with 50% scheduled for release on July 7, 2024, 75% on July 7, 2025, and the entirety by July 7, 2026.

It's important for individuals to conduct thorough research and consider various factors before participating in any cryptocurrency project.

Naxion employs a multifaceted approach to ensure its network's security, integrating both technological and operational measures to protect users' data and transactions. At its core, the platform leverages decentralized server structures, which inherently reduce the risk of centralized points of failure, enhancing the overall resilience of the network against attacks. This decentralization is a fundamental aspect of blockchain technology, contributing to the robustness and reliability of Naxion.

Further enhancing security, Naxion incorporates AES 256-bit encryption, a powerful cryptographic standard that secures data with a high level of encryption, making it virtually impregnable to brute-force attacks. This encryption standard is widely recognized for its strength and is used globally to protect sensitive information.

In addition to these foundational security measures, Naxion introduces specific features designed to safeguard users' interactions and data within the ecosystem. Secure Fetch, Private Share, and Advanced Security are among the tools provided to users, each offering additional layers of protection. These features are designed to ensure that users can interact with the platform and each other in a secure environment, minimizing the risk of unauthorized access or data breaches.

The platform's commitment to security extends beyond these measures, incorporating smart contracts and decentralized finance applications that operate on transparent and immutable principles. This not only enhances the security of financial transactions but also ensures the integrity of the applications built on the Naxion platform.

Staking mechanisms and a secure wallet for storing digital assets are also integral components of Naxion's security framework. Staking contributes to network security by incentivizing participants to act in the best interest of the network's health and security. Meanwhile, the secure wallet provides users with a safe means to store and manage their digital assets, further cementing Naxion's comprehensive approach to security.

It's important for users to conduct their own research and understand the security features and measures in place before engaging with any cryptocurrency or blockchain platform.

Naxion serves as a multifaceted platform within the decentralized finance and digital assets landscape. It is primarily designed to support smart contracts and enhance the usability of decentralized applications on the web. The network operates on a Proof-of-Work (PoW) consensus algorithm, ensuring a decentralized and secure environment for transactions and data storage. NXN, the native utility token of Naxion, plays a crucial role in the ecosystem by being used to pay for gas fees associated with processing transactions and storing data on the network.

One of the key features of Naxion is its ability to overcome the limitations commonly associated with PoW blockchains, while still adhering to the principles of decentralization. It achieves high transaction speeds similar to those of Proof-of-Stake (PoS) systems, thanks to its independently developed secure node technology. This allows for transaction processing speeds of up to 1500 transactions per second (TPS) and offers a cost-effective gas fee structure. This efficiency and affordability have enabled Naxion to establish an independent network ecosystem without the need for a separate Layer 2 solution.

Moreover, Naxion emphasizes eco-friendliness by preventing access to ASICs and thus, reducing unnecessary power consumption beyond what is required for node operation. This approach not only conserves energy but also supports a more sustainable blockchain environment.

In addition to its role in facilitating smart contracts and transactions, Naxion also offers opportunities for passive income through staking. Users can stake NXN tokens to earn rewards, making it an attractive option for those looking to generate passive income within the crypto space.

Naxion's infrastructure is further enriched by its integration with FractonX, which serves as an NFT financial infrastructure. This allows for the fractionalization of NFTs into ERC-20 tokens, backed by a fraction of the original NFT. Such a mechanism opens up new avenues for trading and price discovery in the NFT market, leveraging state-less centric smart contracts to revolutionize the way digital assets are interacted with and traded.

As with any investment in the crypto space, it's important to conduct thorough research and consider the risks involved. Naxion's unique approach to combining the benefits of PoW with high transaction speeds, low gas fees, and eco-friendly practices, along with its potential for passive income through staking and innovative NFT financial infrastructure, positions it as a noteworthy project in the decentralized finance and digital assets domain.

Naxion has experienced a series of significant milestones since its inception, reflecting its evolution and growth within the blockchain ecosystem. Starting from its initial launch in 2021, Naxion emerged as a decentralized application platform, emphasizing its commitment to supporting smart contracts and enhancing web usability. Its foundation is built on a Proof-of-Work (PoW) consensus algorithm, which is pivotal for its operation and transaction processing.

One of the foundational aspects of Naxion's journey was its ability to address and mitigate the limitations commonly associated with PoW mechanisms. By integrating secure node technology, Naxion achieved transaction processing speeds comparable to those of Proof-of-Stake (PoS) systems, boasting a maximum throughput of 1500 transactions per second (TPS). This innovation not only facilitated faster transactions but also ensured a cost-effective gas fee structure. Such advancements allowed Naxion to foster an independent network ecosystem without the need for auxiliary Layer 2 solutions. Moreover, its approach to node operation emphasized eco-friendliness by limiting access to ASICs, thereby reducing unnecessary power consumption beyond what is essential for node functionality.

In terms of tokenomics, Naxion introduced its native utility token, NXN, which serves multiple purposes within its ecosystem, including compensating for gas fees associated with transactions and data storage. Since the network's genesis block, a structured mining process has been in place, contributing to the circulation of NXN tokens. The distribution strategy for NXN tokens involves a phased release to the market, ensuring a gradual and controlled supply influx until July 2026.

Key events marking Naxion's timeline include its listing on a global cryptocurrency exchange and the execution of an airdrop event, which were pivotal in enhancing its visibility and accessibility to a broader audience. These milestones, coupled with its technological advancements and strategic token distribution, underscore Naxion's commitment to fostering a scalable, efficient, and user-centric blockchain platform.

As with any investment in the cryptocurrency space, it is crucial for individuals to conduct thorough research and consider various factors before participating. The dynamic nature of blockchain technology and digital assets necessitates a careful and informed approach to engagement and investment in projects like Naxion.