## What Is BlackFort Exchange Network (BXN)?

BlackFort is an innovative blockchain platform that has all the attributes needed for a top–tier blockchain. It is a Layer 1 blockchain that is EVM compatible, fast, scalable, secure, and efficient, with POSA and easy access to become a delegator. Transparency is a key priority for BlackFort, ensuring that all parties in a transaction have the information they need to feel secure. This combination of features makes BlackFort an ideal platform for anyone looking to build a blockchain–based solution.

BlackFort Exchange Network is a smartchain technology. This form of Blockchain is a revolutionary way to manage digital assets more securely and efficiently. With a smartchain, users can quickly and easily transfer digital assets between multiple parties in a secure and transparent manner. The smartchain can also be used to facilitate smart contracts, allowing for the automation of complex transactions and smart contract interactions. This technology has the potential to open up new possibilities for the global economy.

BXN is the native on-chain utility token that is used for:

* Fees for processing transactions and storing data.
* Running validator nodes on the network via staking BXN NODE-NFT tokens.



## What is the total tokensupply of BXN dedicated to?

BXN launched its mainnet on April 22, 2020. The total/max supply of BXN is 49,999,999,999 BXN Tokens. A total number of 10.5 billion (21%) BXN is dedicated to 304,000 Delegator Node-NFTs to secure the network in a PoSA Consensus Validator Node system to secure the network and validate transactions. 59% or a total number of 29.5 billion BXN token are going to be released as block-reward over a timespan of approximately ten years to all Node-NFT Holders on an Aliquot basis. Please see Whitepaper(https://storage.googleapis.com/skydelis-static/whitepaper.pdf) Section 5.10 to learn more about BlackFort Tokenomics.


## What are the Principles of BlackFort BXN?

For the creation of the BXN blockchain some of the guiding principles are the creation of a flexible and extension network of EVM Core Smartchains to create a symbiotic harmony. It aims to complement existing blockchains and not replace them entirely. Here are the principles of BXN:

Standalone, independent, and unique Blockchain: technically, BXN is a standalone blockchain, instead of a layer-2 solution even though it will run on your existing ETH address. Most BXN fundamental technical and business functions are self-contained so that it can serve its complementary purpose to other blockchains and interoperability and cross chain transfers that are to come.

EVM Compatibility: The first practical and widely used Smart Contract platform is Ethereum. To take advantage of the relatively mature applications and community, BXN chooses to be compatible with the existing Ethereum mainnet. This means most of the dApps, ecosystem components, and toolings will work with BXN and require zero or minimum changes; BXN nodes will require minimal and low investment hardware specification and skills to run and operate as

Staking Involves Consensus and Governance: Staking-based consensus is more environmentally friendly and generates a higher degree of flexibility in terms of community governance. Expectedly, this consensus should enable better network performance and lower costs over proof-of-work blockchains, i.e., faster block creation times and higher transaction capacity than is traditionally possible on proof-of-work blockchains.

### What is the Blocktime and Halving Period?

One block represents a set of entries into the blockchain, to be verified and validated. Once this batch of transaction and interaction recordings as well as the release or production of block reward has been processed using the transaction fees, paid by the blockchain user. Distribution automatically happens and the next block starts to form. This occurs every 5 seconds.

How to approximate the yearly halving-period:
At the set time for blocks to be created and validated, it takes 6,000,000 blocks to be approximately equivalent to one year in Real time. Block reward halving happens at every 6,000,000th block. Example: The fifth year starts at block number 30,000,000. This can be calculated by the following: 6,000,000 * 5 = 30,000,000


## What is BXN Proof of Staked Authority?

BlackFort Network has implemented its own staking method called Proof-of-Staked-Authority (PoSA), which is designed to provide a truly decentralized and effortless staking experience. PoSA is a consensus mechanism that allows users to stake their tokens and earn rewards by validating transactions on the network. The staking process is simple and can be done through validator nodes, delegation, or a do-it-yourself (DIY) approach. By staking through PoSA, users can participate in the validation process and contribute to the overall security and efficiency of the network. The use of PoSA also eliminates the need for energy-intensive processes and expensive hardware, making staking accessible to all. Overall, PoSA is a reliable and efficient staking method that allows for greater decentralization and accessibility on the BXN blockchain platform.


### What is the BlackFort Wallet Application?

BlackFort Wallet is a Client side, Multicurrency Wallet Application to be used on iPhone and Android devices. This application is 

Blackfort Wallet Yellowpaper(https://blackfort.exchange/wp-content/uploads/Blackfort-Yellowpaper.pdf).


### Are there Further Utilities to BXN Holders?

BXN is also used on BlackFort Products as a Utility Token as follows:

BlackFort wallet: BXN Holder is going to:
have a reduction of Exchange/Swap Fees
Has the possibility to be whitelisted for upcoming Projects on BXN Blockchain, in-house or vetted External Projects
Holders may be eligible to be an Airdrop receiver. 


B2B Services (BlackFort Payment Solution Service): 
BXN May be used to:
Reduce onboarding fees
Operational fees
Transaction fees

BlackFort EMI Services:
Reduce onboarding fees
Operational fees
Transaction fees



## What Is BlackFort Exchange Network VOTE Token?

VOTE Token
* Used for governance votes to determine how network resources are allocated.
* Used for governance votes to determine how to decide on which proposed functions are 

This Token Represents a weight of authority in a DAO Voting Process. This token was distributed to early backers of the BXN Token economy. 


#### Related Pages:

Learn more about BlackFort [here](https://blackfort.exchange/).

New to cryptocurrency? Find all the information you need with [Alexandria](https://coinmarketcap.com/alexandria/categories/crypto-basics), CoinMarketCap’s dedicated education resource.

Nine things to know before investing in cryptocurrency(https://coinmarketcap.com/alexandria/article/9-things-to-know-before-investing-in-cryptocurrency)
Learn about cryptocurrency with CMC Alexandria(https://coinmarketcap.com/alexandria/article/9-things-to-know-before-investing-in-cryptocurrency)
Read the latest posts on the CoinMarketCap blog(https://blog.coinmarketcap.com/)

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