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Naxion news
About Naxion
What is Naxion(NXN)?
Launched by a project team in Korea on March 31, 2021, Naxion is a decentralized application platform designed to support smart contracts and make apps usable on the web. The network runs on a Proof-of-Work (PoW) consensus algorithm. NXN is the native utility token that is used for gas fees for processing transactions and storing data.
. What makes Naxion unique?
What makes Naxion special is that it overcomes the shortcomings of POW while remaining faithful to the basics of PoW blockchain. While adopting the POW method that most faithfully implements decentralization, it also adopts independently developed secure node technology to process transactions at a speed similar to the POS method (maximum 1500 TPS) and design an inexpensive gas fee structure. Fast speed and low-cost gas fee made it possible to build an independent network ecosystem without supporting a separate Layer 2 solution. Meanwhile, it is eco-friendly by preventing access to ASICS without providing a node, thereby preventing unnecessary power consumption in addition to the power required for node operation.
How Many NXN Coins Are There in Circulation?
(Since I have not been given Google docs permission to write down the coin circulation amount, I am writing the approximate figures here.)
Naxion has created approximately 5,864,000 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 29,320,000.
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 7.97 million, 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.
Related information is on pages 25-27 of the white paper linked below.
The live Naxion price today is $0.089451 USD with a 24-hour trading volume of $55,181.01 USD. We update our NXN to USD price in real-time. Naxion is up 0.64% in the last 24 hours. The current CoinMarketCap ranking is #4085, with a live market cap of not available. The circulating supply is not available and a max. supply of 30,313,035 NXN coins.
If you would like to know where to buy Naxion at the current rate, the top cryptocurrency exchange for trading in Naxion stock is currently LBank. You can find others listed on our crypto exchanges page.