Proof-of-Stake (PoS) Consensus: Secure, Sustainable, and Fast
The AXEL blockchain is backed by a Proof-of-Stake algorithm. In this method, our Masternode holders stake a certain amount of AXEL Tokens as collateral before they are deployed in the network. Masternode hosts then receive token rewards for their participation.
Proof-of-Stake consensus doesn’t require the competitive “mining” found in the alternative, Proof-of-Work, method. Mining requires an extraordinary amount of computing power, and therefore energy consumption. This makes Proof-of-Stake the more sustainable, environmentally-friendly choice.
AXEL Masternodes power the blockchain behind our global network. Thanks to AXEL Tokens, they have a vested interest in its security, integrity, and overall success.
AXEL is a Proof-of-Stake (POS)
Blockchain technology provides an innovative way to handle transactions over the internet. Instead of using a 3rd party to facilitate and validate transactions, blockchain allows for decentralized agreements. It basically eliminates the middlemen along with the usual accompanying fees. It may seem a bit mysterious, but really, it’s not so bad.
Transaction information is held in containers known as blocks. This data is checked and validated by all other computers (nodes) on the network. Once a block holds a specific number of valid transactions, it is officially created and added to the chain in sequential order. This means the last block on the chain always contains the most recent group of transactions. A unique alphanumeric code called a “hash” is created for the block. Each block contains the hash of itself and the previous block on the chain.
Once on the chain, the transaction information contained within the blocks can’t be changed. Any change to data within a block would alter its hash and the hash of each subsequent block. This breaks the chain. Each node on the network has the full history of the blockchain, so its accuracy and integrity are constantly verified. This is why blockchains are considered immutable. With these advantages, it’s easy to see why we’ve chosen to integrate blockchain technology into our security and privacy-focused file-sharing program, AXEL Go. For example, now if you send a contract to a vendor or client, that transaction is registered on the blockchain. You can now confirm with undeniable proof when the contract was sent and to whom.
A Blockchain Solution with Real Value
AXEL did not release an altcoin backed only by hype. AXEL is a real company with tangible intellectual property. AXEL is committed to engineering exciting technological solutions to today’s biggest challenges in security and privacy, and has already released a blockchain solution powered by the AXEL Token that addresses these issues.
AXEL Tokens are now available on three major cryptocurrency exchanges*
*Only eligible purchasers can obtain AXEL Tokens on these exchanges. Eligibility is determined by the respective exchanges based on their own rules. It excludes certain geographic areas such as the United States.