BUXCOIN WHITEPAPER | LATEST NEWS OF (BUX) WHITEPAPER IN 2024
BUXCOIN WHITEPAPER |
INTRODUCTION OF BUXCOIN WHITEPAPERS TECHNOLOGY / TERMINOLOGIES
CONTENTS:-
- Disclaimer.
- Executive Summary.
- Introduction.
- Technology.
- Pow/Pos.
- Script.
- Uniqueness.
- Components.
- Web Wallet.
- Cold Wallet (Windows/Linux/Mac).
- Block Explorer.
- Bux-Supervision.
- Bux-Loop Security.
- Coin Distribution.
- Contribution.
- Staking.
- Community.
- Diversity and boundary.
- Trade Buxcoin.
- Business model.
- Team and professionals.
- Risks.
- Road map.
BUXCOIN TERMINOLOGIES | PRIVATE DECENTRALIZED CRYPTOCURRENCY
- BLOCKCHAIN
- PROOF OF STAKE O PROOF OF WORK
- SCRYPT
- DIFFICULTY RETARGETING ALGORITHM
- STAKE AGE O BLOCK TIME, SIZE AND BLOCK REWARD. O HALVING RATE O BOTNET ATTACK
- SYBIL ATTACK
- 51% ATTACK
- HASH RATE
- HASH FUNCTION
- MINING
- VALIDATION
- STAKE HOLDER
- CRYPTO WALLET
- HASH RATE
DISCLAIMER & IMPORTANT
NOTICE
Before
diving deep into the whitepaper, read out DCORP/disclaimer completely. This whitepaper is not stuffed with
complex and hard understandable contents in linguistic English but focussed
with good quality contents and in a quite understandable language that solves
out customer's dilemma, confusion, and expectation around Bux coin technology
and it's a business strategy to reach out to fullfledged benefits to the customers.
Particularly
contributors to the Buxcoin community such as speakers are advised to read all
the business risks, reward structure, and protocols for participating as an
active element in Buxcoin community as it is globally known that cryptocurrencies are highly volatile financial instruments. This whitepaper as well as
Buxcoin product is backed only by highly experienced IT professional, financial
capitalists, forex market analysts, and a group of trained hackers.
This white paper contains non-fraudulent, flawless, and non-conspiracy contents, not targeting any alternate cryptocurrencies, its
capabilities and its issues, not forcing or pointing out any community to buy
or trade under any wrong policy enforcements, free from immoral and marketing
focussed content and does not have mind-bending content to drive sales.
How ever, cryptocurrencies are under market risk and prone
to hacking, Buxcoin community will not be responsible for any third-party ICO
based on Buxcoin. No hidden business or trading policies are drafted without the intervention of customers and all the contents strictly portray about Bux coin
technology, nonrisk policies, protocols, and business motive of the Buxcoin
community.
The contents in the form of flow charts, graphical
representations, pictorial representations, and sentences in this whitepaper
are strictly free from non-law abiding contents and solely built after
scrutinizing rules, regulations, government/regional restrictions, and tax impositions.
The contents in this whitepaper are not intended for any
ICO token buyers and it's set forth only for those ready to participate in
staking and trading Buxcoin. Starting from the introduction base to the
conclusion end, this white paper is not constructed ed with illegitimate or
misguiding information as like other scams, fraudulent activities and fake
promotions backed by non-law abiding digital scammers and crypto-robber's community
that prevails in the crypto's market today.
Consistent change on government laws affects
cryptocurrencies across different regions from various aspects, so Buxcoin
stakers and rest other Buxcoin community people are requested to look over the
tax imposition, restriction updated by the regulatory departments and
government institutions and also track market reactions to the changes.
This white paper does not also mention Buxcoin or any other
cryptocurrency as an asset or digital currency or another financial instrument
because cryptos categorization under asset or currency is not yet confirmed by
government.
EXECUTIVE SUMMARY OF BUXCOIN IN WHITEPAPERS
Buxcoin
is built with a secure-scientific and well-structured approach to working algorithm
with important mechanisms and wide supporting features after an intense
research is done on the economic, social, and mathematical behavior of the
cryptocurrency markets.
Significant
changes in the basic design language from the scratch with some secret mathematical
inclusions resulted in high security against cyber-attacks and flaws which
conceptually makes the Buxcoin a perfect alternative to top cryptos in the
market.
Buxcoin focus is on the left out community of
potential cryptocurrency customers and engage them as an actively
participating element with its futuristic and fast-changing financial
ecosystem.
If you want to know Bitsolives 2.0 the read from here.
If you want to know Bitsolives 2.0 the read from here.
11 MAIN FEATURES OF BUXCOIN
- Buxcoin has easy value transfer and reduces the burden of carrying currency and making it more secure.
- Cold storage wallet facility for Linux and Windows users. This is a highly secured wallet used for offline storage of cryptocurrency where staking takes place.
- Scrypt based algorithm which provides high security and is less prone to hacking and online robbery.
- Built on source code of LTC by tapping it accordingly for a generation of blockchain from the genesis block.
- Block explorer provides information about the block such as block count, when the transaction took place, the number of recipients, etc.
- Competitively rewarding POS system which acts as additional security invalidating the blocks in a blockchain. The flow of 7000 tnx/sec is significantly higher which prevents bottleneck attack.
- The best difficulty and reward adjustment strategy have been designed with an intention to competitively incentivize the users.
- Buxcoin is tradable at the MT4 trading platform and at Cashfinex. It can be exchanged with top cryptocurrencies in the market such as Bitcoin, Ethereum, etc.
- Highly experienced team to support customers and queries.
- Buxcoin can be used in place of currency for shopping, as a financial asset.
Before
getting dragged or dissolving your asset in a bragging cryptocurrency, ask
yourself the questions below:
IF YES THEN BUXCOIN IS THE ONL ANSWER FOR YOU
The
fiat currency which acts as an effective value transfer medium enabled millions
of traders across cities, countries, and inter-continents to exchange their
goods with number printed papers backed by gold or silver which is approved by
government.
Since
its inception the barter system gets completely replaced in trading and other business sectors which aids folks especially traders to carry their valuables
easily and safely anywhere and at any time. However this also drastically
increased the robberies.
The
paper money pulled in lots of unauthorized money into circulation which left
government restrictions and humongous trading barriers across nations. Since
then the progress of technology started to merge with the finance sector which
turned the people's attention to earning money through online trading platforms
and gave way to digital transactions.
This
evolution of the fin-tech sector inadvertently created a concept called Bitcoin.
After this flourished several cryptocurrencies emerged in the market attracting
millions of investors and traders across the globe. Though these
cryptocurrencies emerged as a new world order and propagated as a revolutionary
entity, many of them failed to sustain their consistency against its fiat
competitors due to government regulations and tax impositions.
This
created a void in the people's trust in cryptocurrencies. The rise of
insecurity and the presence of unauthorized groups plundering digital money through
false campaigns and hacks also further increased the hesitation for people to
invest in any digital currency.
We
strongly believe that cryptocurrency and blockchain is the future that has the
potential to channelize the world into the right entrepreneurial spirit and
millionaire-ship, which also eases out fundraising through ICOs. A crypto network with topnotch security can entice the crypto-minds back into the
active cryptocurrency world.
To
re-build the trust in a digital currency we built one of the most powerful economy driving cryptocurrency called Buxcoin not just to introduce another
digital currency in the market but to revolutionize the cryptocurrency
world.
This
digital entity with its cutting-edge security program surely brings positive
economic environment to both government and private societies. Many
entrepreneurs wish to start their own cryptocurrency without proper scrutiny
and market analysis which ends in a failed attempt.
Buxcoin,
a private decentralized crypto blockchain network is programmed and designed
to explore the difficulties in the existing cryptocurrency market and
blockchain technology.
The
recent increase in the popularity of blockchain technology, mainly in
the field of crypto coins (digital currency), gave rise to many illegal,
fraudulent and illegitimate users, hackers, botnet attacks and scams which gave
rise to fear and misconceptions to the wise users and newbies to digital
money.
Moreover the major problem with today's
POW and POS-based cryptocurrencies is limited transaction capability, less
rewards, and increased volatility. With the groundbreaking research and
cutting edge development techniques carried out in our laboratory in the UK, we
resolved the major problems by paving way for the lightning speed transactions,
higher rewards, and less volatility along with endless possibilities in the
digital business. The algorithm is designed in such a way that new players and
beginners can participate actively without fear.
BUX TECHNOLOGY POW/POS HYBRID
This
is the first cryptocurrency to be built Proof of Work (POW)/Proof of Stake (POS) hybrid system
from the genesis block, unlike most other cryptocurrencies that are forked.
SCRYPT ALGORITHM
TECHNOLOGY AND SERVICES OF BUX
Scrypt
algorithm is safe for the staking process due to its fundamental code structures.
The major problem with the staking is the 34% attack which actually allows the
validator (the staker) to acquire more than 34% of total coins and this
eventually decreases the income of other validators. A slight tweak in the code
structure of the Scrypt algorithm with a highly advanced approach results in a
new age security called Bux-loop security. This security automatically blocks
out the participators trying to acquire major share of more than 24% and issues a
warning once the validators reach 20% of total coins.
- Web Wallet
- Wallet security
- Experienced Team
- Blockchain Technology
- Cold Storage
- Explorer
- Pre mining
- Bux-Staking
- Buxcoin Trade
The drawback of the Scrypt algorithm is the higher storage capacity requirement than
other algorithm in existence but this drawback is balanced by the fact
that script algorithm is least prone to be hacked, cyber-attacks & 34
percent attacks.
UNIQUENESS
- GENESIS BLOCK
- GLOBAL AFFILIATE NETWORK
- LEVERAGED / UNLEVERAGED CRYPTO TRADE
- 7000 TRANSACTIONS (PER SEC.)
- MT4 PLATFORM
- POW/POS HYBRID
- 350 MILLION PREMINED COIN
- BUX-LOOP SECURITY
- BUX SUPERVISION COMPONENTS
WEB WALLET OF BUXCOIN
BUX
wallet is an E-wallet, which is basically a software program like the other digital payment portals. The Web Wallet provides space for the crypto coins to get
stored safely and securely with built-in safety, updates and fraud-resistant
features which lack in some popular wallets that safely holds the private key or
public key. Buxcoin team always suggests users store their cryptocoins in an offline wallet called cold storage. Benefits of Web Wallet:
-
Generate a new block address on the blockchain network.
- View Buxcoin balance and send transactions
to other wallets.
- View transactions, pending releases.
COLD WALLET (LINUX / WINDOWS/MAC)
COLD WALLET is offline storage used when an excess of Buxcoin
crypto needs to store in the wallet contains private. Also, public keys printed in QR
code in the form of a letter. As online storage is prone to hacking, the Buxcoin
team recommends its customers to store Buxcoins offline. There are three
types of cold wallet:
Storage
in system
This
is system storage. - Which supports features such as send, receive and transfer
history. - This also works when it is not connected to the internet. - Staking
takes place here.
Hardware Wallet
A Hardware
Wallet is nothing but a physical storage device like your HDD, pen drive,
DVD …etc. A wallet sheet can
contain an address that is stored inside the physical storage device driver. But Hardware
Wallet Safe & a little bit expensive. Only a few hardware wallet devices
are available in the market.
Paper Wallet
- A Paper
wallet sheet of buxcoin is printed in the paper physically to identify easily.
- Paper Wallets can be used by anyone very
easily.
- Just Only the expense of hard paper and printing
ink is needed.
- One more thing is Good quality like Hp, canon..
printer is needed.
- Papers may get lost or damage.
COMPONENTS
BLOCK EXPLORER
A
Block Explorer is an online application specifically designed and developed for
Buxcoin. It provides all the information about individual blocks, blockchains
(such as statistical data of the blockchain network, transaction histories,
address balances current coin information) and allows users to compare the
statistics of each block without authentication.
The
Block Explorer is built after examining feedback from existing digital currency
users. It is designed in such a way that it provides the most accurate
information satisfying the expectations of miners and newbies to the
cryptocurrency world. Some of the major information that Block Explorer
provides are:
- - The the total amount of Buxcoins in circulation at a specific time.
- - Shows the hash of all the transactions.
- - Transactional id and Buxcoin volume availability.
- - Shows the network speed, difficulty, and box price.
- - Shows the block count, recipients, and timestamps.
- - Transactional history.
- - Balance of addresses and amount of coins transferred.
- - Nodes connected in the blockchain.
BUX-SUPERVISION
Bux-supervision
is a preprogrammed monitoring platform that consistently looks at the buying
and selling activities of the Buxcoin in any trading platform that it is
integrated with. It acts like a supervisor that keeps eyes on all the third
party involvement in trading the Buxcoin.
The
Bux-Supervision further strictly monitors the transactional capability and
difficulty level of rewarding programs. It automatically retracts them
according to the market circumstances. This fundamentally controls the traders
and third party activities around the Buxcoin and its components.
Sell and buy
The
trader's confidence improves significantly as their records are easily
traceable. Basic problems are automatically analyzed by the program itself
which sends the solution through support tickets to the internal Buxcoin team,
as a warning signal.
Crucial
problems faced by a user are resolved by engaging the support team through
phone calls with the user, in order to analyze the intensity of the problem.
The solutions will be sent via a series of emails or through series of support
tickets. There may be few rare problems that may sometimes take longer to
resolve or may be accepted as is, in which case the reporter of the issue will
be duly compensated.
Transaction and reward system
Reward
system and difficulty adjustments are always dynamic. These variables get
updated automatically when the market suffers and is based on underlying
circumstances. Sometimes the Buxcoin team is also involved in complex
situations.
COMPONENTSBUX-LOOP SECURITY
Though
existing web wallets are built with high security, the inevitable existence of
loopholes in encryption technology give rise to unidentifiable attacks. To
solve this unpredictable attack, the Buxcoin team specially designed a program
called Bux-Loop Security.
It is
a combination of predesigned software and a group of secret reverse hacking
professionals to ensure and update the version and security system of Buxcoin
network. This is a
preprogrammed security platform that consistently ensures the security of the
wallet and money transfer. If it detects any illegal trade or illegitimate
access by an individual or group of accounts, it simply blocks the usage and
access of all such accounts. This system with its fundamental secured nature enhances the trust of the current and future members of the Buxcoin
community.
Bux-loop
Security
- CSRF-XSS Security Integration
- Anti Botnet Attack
- SMTP Mail Functionality
- Anti Cyber Attack
- Anti Money Laundering
- Database Encryption
- SQL Injection
- Request Validation
- Anti 51% Attack
- IP/Mac Address Based Blocking
- Double Verification
- Auto Logout
- SQI Command Storing Process
- Admin IP Restriction
- HT Access Checking
- Withdraw Confirmation
- OTP Enabled Withdraw
- Secured Socket Layer
STAKING
The
process of Staking rewards participants with Buxcoin, by connecting their cold
storage wallet to the internet. The user is weighed according to the stake he/she holds or with the age of the
stake. To unlock staking participation an active user has to keep his/her
wallet with a minimum of 50 Buxcoins unspent for 8 hours. The rewards are directly proportional to
the number of Buxcoin staked and the duration of staking. The higher the
duration the higher the rewards.
By the process of staking of Buxcoin block gets validated.
The transaction fee and incentives of the stake are transferred from the
genesis block to the main block and then to the staking wallet. In the Buxcoin
staking program, the least option is to keep the user's wallet connected to the internet for at least 8hrs and a stake
of 10% will be rewarded to the entire community.
COMMUNITY
Good
reputation towards Buxcoin develops when Buxcoin satisfies the world with its
usability, value, and trustworthiness which can be accomplished only with active
members of Buxcoin community.
Buxcoin
community is a vast spread out network which invites every citizen to utilize its benefits and collaborate people on
different culture. Buxcoin's popularity and growth towards future lies only on
the hands of community and awareness programs in which bux-team stubbornly
believes.
Active
supports and involvement such as reviews, posts and public commentaries would
enrich the business and market structure of Buxcoin, eliminate the flaws,
minute corrections and project the Buxcoin in the right direction. The Buxcoin
community people are always brought together to ensure the supportive life of
each and every Buxcoin holder by conducting awareness program and hands-on
support to needs in different fields.
SUPPORT TO COMPANY
The participants, supporters, and BUXOIN (Bux)-team are not
only the bricks for building the Buxcoin community but are also the
contributors to aid to take Buxcoin to reach its success goals set by the company
only.
SUPPORT TO SOCIETY
Several
online and offline campaigns will be conducted to support Buxcoin based and
non-Bux coin based societies in the areas of health, education, and finance.
Moreover, awareness of programs will be conducted every year to educate people on
the importance of cryptocurrency in day to day usage.
DIVERSITY AND BOUNDARY
New
rules, regulations & tax impositions consistently hop on the crypto market
back to back by government which is inevitable and even in some nations
cryptocurrencies are banned and are highly restricted to use only as an
digital assets not as currency.
By
nature Buxcoin is strictly law-abiding and obeys financial beliefs, cultures
etc. of any community across the globe and has the agenda to reach its benefits
everyone in this world. Buxcoin acts and propagates either as a cryptocurrency
or digital asset with influential and financial boundary limits imposed on
various countries and will not be sold in countries where it is banned
completely.
Buxcoin
respects the language of all cultures and has the perspective to build and
convey multiple finance & business platforms in various languages to
satisfy and engage each and every citizen of different nations.
Buxcoin
diversifies itself across continents, planning to reach out to the global
communities. Buxcoin's user-friendly characteristics along with its ease of use will pull billions of customers into this futuristic technology with a
financially beneficial journey.
TRADE BUXCOIN | MT4
THE FIRST CRYPTO MARGIN TO GO ON
TRADING PLATFORM
- Web-Based.
- High Speed Conversion.
- Multiple Chart Layout.
- Trade in 3 Fiat and 5 Crypto.
The biggest hidden secret behind the success of cryptocurrencies is their
superfast transactions and low transaction fees. To further step up the game
the Buxcoin team decided to enhance the purpose and concept of cryptocurrency
resulted in Buxcoin. Buxcoin is one of the premium cryptocurrencies traded on
Meta trader 4 (M14) trading platform.
It is
one of the most familiar margin trading platforms and has the largest customer
base in the world. This fundamentally helps the Buxcoin to hop itself on top of
a high market cap crypto-network list. Buxcoin is also traded on Cashfinex
which secures the title of a fast-rising Forex and cryptocurrency exchange in
the world. Buxcoin will soon be listed on Coinmarket cap for public
information.
Buxcoin
is the only cryptocurrency that is traded on its own exchange called Cashfinex.
The Buxcoin cryptocurrency can be traded as either leveraged or unleveraged in
MT4 and Cashfinex trading platforms, which is one of the most desirable
qualities in today's FX and cryptocurrency markets. The wide variety of trading
options and multi cryptos for exchange shows Buxcoin's stringent market its
progressive nature and subtly draws the attention of world-class
traders.
Meta trader 4 (MT4)
- - 29 CRYPTO PAIRS
- - AUTOMATED TRADING
- - SUPERFAST EXECUTION
- - WIDE VARIETIES OF ADD-ONS AND INSTRUMENTS
- - CUSTOM TRADING ALGORITHM
- - LOW TRANSACTION COST
CASHFINEX
If you
want to know about CASHFINEX then read more from our site
- - 4 CRYPTO PAIRS
- - INSTANT, LIMITED AND STOP ORDERS
- - MULTIPLE AUTO WEB WALLET SYSTEM
- - HIGH SPEED CONVERSION
- - 99% SERVICE AVAILABILITY
Leveraging
is always a pleasing way to trade in the market which entices even small
investors to venture into trading. It gives the traders exposure to higher
markets, breaking the barriers with less investment and higher returns according
to the leverage ratio when the market appreciates in the future.
At the
same when the market depreciates the trader will only lose small capital that he
invests whereas in unleveraged trade the trader loses the entire capital that
he invests but if the market uptrends both kinds of traders get the same return.
Buxcoin
cryptocurrency can be exchanged easily with 29 crypto pairs in MT4 as well as 4
crypto pairs, 3 fiats (EURO, GBP, and USD) in Cashfinex which makes it as a favorable
to encase all the time. In the coming time, the Buxcoin can also be traded in
other exchanges also very soon.
BUSINESS MODEL OF BUXCOIN
Most
of the cryptocurrencies, concepts try to convince the market by developing
anticipation in crypto-crowd about the surge in the price of cryptocurrency
and inadvertently end in falsifying their statements. Bux- coin here
bifurcates and pulls away from all the fake anticipations and misconceptions about
the price surge in other cryptocurrencies with its high user-friendly
strategy and trustworthy business model. As always one knows that
cryptocurrencies are highly volatile digital assets.
However, in the case of Buxcoin business model, which is not just
about buying, selling, and exchanging, it also makes its own way for increasing
the value by acting as a payment gateway for Forex traders. This will
significantly increase the buying volume of Buxcoin eventually increasing it's
price.
Added to that the Buxcoin shopping in
up coming Bux-e-commerce sites, Buxcoin trading in MT4, Cashfinex, and other
physical exchanges will uptrend the Buxcoin value.
RISKS
Cryptocurrencies
are known for their high volatility. There may be chances for banning any
cryptocurrency by the government in a particular region due to their
untrustworthy technology, nonphysical presence, and decentralized concepts.
Still, developments and market regulations are in progress so we always
advise our customers to store their coins in their cold wallets.
Incase
the wallet address or account address is lost, please do inform Buxcoin support team and also assurance may not be given in some hypothetical situations
for the return of Buxcoin. Though Buxcoin has some very convincing monitoring
and security systems such as Bux-Loop Security and Bux-supervision, there is
a rare possibility that a hack may result in the disappearance of the digital
asset.
As a participant in any activity regarding
cryptocurrencies please be aware of fake ICO campaigns, keep in touch with
upcoming market trends, and take caution with your digital assets by following
the recommendation provided through this document.
PLEASE READ CAREFULLY THIS
NOTE OTHERWISE YOUR BUXCOIN MAY BE LOST!!
NOTE - Buxcoin
is currently only traded on Meta trader 4 platform and Cashfinex, we do not advise to trade on any
other third parties or unauthorized trading platforms as they may be scams. Bux
coin team is working with many e-shopping and e-ticketing sites sign contracts
for becoming an official trade worthy asset.
Please
stay updated via our sites to know of any such agreement before you indulge in
such transactions. Buxcoin team will not be responsible for the loss of your digital
assets as a result of any such transactions on an un-authorized site.
private keys are enough to steal all the coins from your wallet. If the key in
knowingly or unknowingly passed onto someone there is a possibility ty that
the person in possession of the key can steal all coins associated with the
key. Buxcoin team will not be responsible for such losses. Please keep the
private key safe and secured.
We advise not to use a paper wallet as it
contains a private key and public keys that can be easily destroyed or stolen,
allowing strangers to access your private key without any verification.
Customers are advised to pay the taxes that are imposed on any Buxcoin
transactions per local regulations, thus avoiding the risk of penalties imposed
by the government. Avoid third party deals and exchanges that are advertised
in social media.
ROADMAP
JULY- 2017
Buxcoin launched through affiliate marketing.
AUG
Blockchain and the Cashfinex project started.
SEPT
Research and the development of blockchain.
NOV
First phase of exchange.
DEC
Restructuring exchange second phase of Cashfinex).
JAN - 2018
Starting integration of the FX platform.
FEB MAR
Linux wallet and explorer created.
APRIL
Exchange goes live and whitepaper released.
MAY
Started Buxcoin trading 29 crypto pairs -MT4) (4 crypto pair, USD, GBP, and Euro in Cashfinex).
JUNE
Buxcoin will be traded on MT4, listed on Coinmarketcap. Windows wallet and Mac wallet release.
JULY
E-commerce platform launch.
AUG
Traded in other exchange and mobile wallet will be launched.
SEPT -DEC
Marketing promotions and campaign.
Buxcoin launched through affiliate marketing.
AUG
Blockchain and the Cashfinex project started.
SEPT
Research and the development of blockchain.
NOV
First phase of exchange.
DEC
Restructuring exchange second phase of Cashfinex).
JAN - 2018
Starting integration of the FX platform.
FEB MAR
Linux wallet and explorer created.
APRIL
Exchange goes live and whitepaper released.
MAY
Started Buxcoin trading 29 crypto pairs -MT4) (4 crypto pair, USD, GBP, and Euro in Cashfinex).
JUNE
Buxcoin will be traded on MT4, listed on Coinmarketcap. Windows wallet and Mac wallet release.
JULY
E-commerce platform launch.
AUG
Traded in other exchange and mobile wallet will be launched.
SEPT -DEC
Marketing promotions and campaign.
OFFICIAL SITE - BUXCOINWHITE PAPER
CONCLUDE- In this buxcoin white paper article I have shared you in-depth process of buxcoin
smart blockchain technology and strategy which makes your buxcoins very secure.If
you want to learn how buxcoin whitepaper works then read our full article.
TAGS- Buxsuperstore,Buxcoin white paper.
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