BoxAxis price is $3.34
At the time of writing, the price of BoxAxis (BAXS) $ 3.34 has increased by +0.00% in the past 24 hours. The current market capitalization ranks at #1, totaling approximately $ . The trading volume over the past 24 hours has been about .
BoxAxis (BAXS) is a blockchain platform specifically designed as an economical-driven application and interaction standard for the Internet of Things (IoT). It aims to connect a myriad of devices through a distributed network, leveraging a parallel chain structure. This unique structure allows each device to communicate with peers, facilitating scalable and secure transactions between different IoT devices without overwhelming the network.
BoxAxis employs a parallel chain structure, which is a distinct form of blockchain architecture adapted to meet the unique needs of the Internet of Things. This approach allows different types of equipment to access diverse parallel chains. One of the main benefits of utilizing parallel chains is the prevention of the general ledger's explosive growth, a common challenge faced by traditional blockchain systems when scaled.
BoxAxis works by connecting devices across a distributed network, where each device can interact and transact with each other. The platform uses a consensus algorithm that ensures the trustworthiness of these transactions. Unlike classic blockchains that operate a single chain growing in a linear fashion, BoxAxis' parallel chains enable a sort of compartmentalization, where some chains can be dedicated to specific types of IoT interactions, enhancing both performance and security.
While the specific consensus algorithm used by BoxAxis has not been explicitly mentioned, it is designed to secure and verify the legal trustworthiness of transactions between IoT devices. Consensus algorithms are crucial in blockchain technology as they provide a way for all the participating nodes to agree on the state of the ledger, despite the absence of a central authority.
The parallel chain structure of BoxAxis is particularly beneficial to the Internet of Things due to its ability to support a vast number of connections without sacrificing performance. In IoT, with potentially billions of devices interacting, a scalable and efficient system is necessary. BoxAxis' approach with parallel chains allows for segmented processing and storage, which avoids the pitfalls of a bloated and slow general ledger, ensuring quick and agile interactions among a large network of devices.
As of now, the circulating supply of BoxAxis (BAXS) is with a total supply that may be 500.0M. It's important to note that the circulating supply refers to the number of tokens that are currently available for trading, while the total supply is the number of all tokens that exist at present or will ever exist in the future.
BoxAxis (BAXS) can be purchased on various cryptocurrency exchanges. The exact platforms offering BAXS can be found by visiting their website or looking up the token on your preferred exchange platform. Notable exchanges include those on the Bkex list. Always ensure you are using a reputable exchange and take necessary precautions when participating in cryptocurrency trading.
BoxAxis aims to play a pivotal role in the fusion of blockchain technology with the Internet of Things. By providing a scalable and secure platform, BoxAxis is positioning itself as a leader in the intersection of these two rapidly advancing areas of technology. Its application-focused network may empower innumerable devices with smart contract capabilities and trustworthy transactions, aligning with the progressive automation and smart technology integration in various industries.
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