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Whitepaper BTC

This white paper introduces the Bitcoin Nexx (BNXX) digital currency. BNXX incorporates highlights from Bitcoin for its distributed ledger, speed and administration promotions from DASH, and boosts Zerocoin convention secrecy through zPoS. The goal of BNXX is to provide clients with swift, secure, secluded, and steady methods for exchanging over the internet. The paper serves as an all-inclusive resource on BNXX but does not contain numerical or cryptographic breakdowns.

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0% found this document useful (0 votes)
45 views20 pages

Whitepaper BTC

This white paper introduces the Bitcoin Nexx (BNXX) digital currency. BNXX incorporates highlights from Bitcoin for its distributed ledger, speed and administration promotions from DASH, and boosts Zerocoin convention secrecy through zPoS. The goal of BNXX is to provide clients with swift, secure, secluded, and steady methods for exchanging over the internet. The paper serves as an all-inclusive resource on BNXX but does not contain numerical or cryptographic breakdowns.

Uploaded by

fachrieleterb
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 20

White Paper

[version 1.01, July 2020]

2020 BITCOIN NEXX JULY 2020. All Rights Reserved


Written and Compiled by Digital Prime LLC.

Contributors
Ashley N.,Vil A.,Bruna D., Nelson J, James S.

Input/Support
Anne A., Robert V., Steven P., Gregory F., Victor O., Ryan N.,
Oscsar R., Richard E., Joseph D.
Whi
tePaper[ver
sion1.
01,June2020]

Synops
is
Atpresent,
thec r
yptocurrencye xcha ngeisi
nunda tedwithcoins/t
ok ensin
dis
tinct
iontofacti
onsfrom as soc
iationofdifferinge x
pectati
on,incentive
,
anda l
li
ance.Themulti
tudeofc oi
ns /tokensandpropos a
ls—s omei nnovati
ve
andguidedbenet sofbl ock
c hai
n, otheressenti
al
lydupli
c a
tesa l
ongs i
de
enthral
li
ngna mes— beneta sadis i
ncentiv
et oboundlessappropr i
ati
onof
cry
pt oasalawful
,undet erminedopt i
oninc ontr
asttoa tcurrency.

Thisrecordservesasana l
l-
incl
usi
veresourceontheBi t
coinNexx(BNXX)
digit
a l
currency,acur
rencywhos echar
a ct
eriz
ingrea
s onforex
ist
ingisto
admi nis
tercli
entswit
hs wif
t,sec
ure,s
ecluded,andsteadymethodsf or
tr
a nsact
ingov erthei
nternet.

BNXXincorporateshighl
ightsr ousedbyBi tcoin'
sspearheadi
ngdi s
persed
rec
ordagreementi nnova t
ion;speeda nda dmi ni
strat
ionpromot i
onsfr
om
DASH,SwiftXandaMa sternodea rrange;andboos tsZerocoi
nc onvent
ion
secr
ecythroughz PoS.BNXXa ddit
ionall
yfus esit
sownhi ghli
ghts,f
or
example,aProofofS t
akea greementc a
lcul
a ti
on,andapower fulcoine xi
bly
contr
oll
edbyt hec onsumingofe x
c hangec harges.

Notethatt
hispaper
,whil
eabr oadpres
entat
ionandcl
aricat
ionofBNXX,
doesnotcontai
nnumer i
calorcr
yptographi
calbr
eak
downsorc l
arica
tions
.
Theseca
nbef oundindependentl
yontheBNXXunder t
aki
ng'
sGitHub.

i
Whi
tePaper[ver
sion1.
01,June2020]

T
abl
eofCont
ent
s
I
ntr
oduc
tion.
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1

F
orma
tiv
eAna
lys
isofBNXX.
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BNXXCoi
nSpec
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3

QUARKAl
gor
it
hm.
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4

T
heGenes
isBl
ock(
Bloc
k#0)
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5

Mi
ningRoa
dma
p..
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6

Pr
oofofS
tak
e(PoS
)Cons
ens
us.
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.7

Pr
oofofS
tak
e(PoS
)Cons
ens
usCont
inued.
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.8

BNXXPr
oofofS
tak
e-I
dent
it
yandS
ecur
it
y.
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.9

Ma
ster
nodeDec
ent
ral
i
zedGov
erna
nce
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.10

Bl
ockRewa
rdsT
abl
e.
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11

GI
THUB.
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F
ork
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.13

F
ork
sCont
inued.
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14

i
i
Whi
tePaper[ver
sion1.
01,June2020]

I
ntr
oduc
tion
Bit
coinNe xxisaneco-f
ri
endlynet workthatworksbyQUARKc ons
ensus.
The
QUARKc ons esusmakesitpossibl
etoc r
eateanewf or
m ofpaymentaswell
asac ompletelynewdigi
t a
l c
urrency.I
tisadecentr
ali
zedpaymentnet
work
(pointt
opoi nt)whereusersaretheindi
v i
dual
swhoma naget
hesyst
em,
withouttheneedf orani
nt er
medi ar
yorc ent
ralaut
horit
y.

Bit
coinNexxwa sdev elopedtocoversomes hortcomi ngsthatBi t
coi
nha s,
ma ki
ngitasafer
,fas
tera ndmor eprivat
ecryptocurrencyint r
a nsact
ions,i
n
addit
iontobeingdev elopeda sapa y
mentga tewa y
. Bit
coinNe xxisaL i
tecoi
n
andPIVXmix ,
a l
lbasedonBi tcoi
n.Withregardstothees s
enceofdi git
al
curr
ency’
scharacter
izingobjecti
ve,BNXXmea nstoov ercomea nyba r
ri
er
betweentheeduc at
eda ndtech-a
ttenti
ve.I
ta i
mst ogi veprotectedmet hods
thr
oughwhi chnotonl yinvest
ors,butals
otheov erallpopulacec anlead
busi
nesswithoutther equir
ementf ormoneyr el
atedes tabli
shment sor
mediator
s.

BNXX'
sint
ent
ionistogi
vethei
ndiv
idual
softheal
waysint
erc
onnect
ed
worl
dwithacat
alys
t,pr
iva
temeanstodi
rectbus
ines
sfort
heirownbenet
.

1
Whi
tePaper[ver
sion1.
01,June2020]

For
mat
iveAnal
ysi
sofBNXX
AsBNXXe xist
st oturnintothequi ntess
entialpr
otecti
onba sedc urrency,
it
s
basehi ghl
ightsa r
eat otalofthosepr i
orindiffer
entmonet ar
yfor ms .
These
havebeenc ustomi z
eda nda ddedt osoa stogiveasoli
tarycurrencyt he
abil
itytoper f
orm wi t
ht hequa l
it
iesofthesemonet aryst
a ndardswi thout
theirshort
comi ngs .
Addi t
ionall
y,BNXX, andtheuntraceablezPIVa nd
Zerocoinconv enti
on, havefurtherhighli
ghtsthatsetBNXXs epa rat
ef r
om it
s
antecedentsa ndc ounterpart
s.

Thepr oduc ti
nnov at
ionbehi ndBNXXi sdrawnf r
om anancestr
yofeffec ti
ve
digit
a l
cur r
encies,wi
thea c
hha v i
nglook edtoenhancet
hos ebeforeit
.BNXX,
whi c
hbega nasac odeforkofDAS H,c
a nmov eit
srootaga
inf r
om thatpoint
toL i
tecoin—f r
om whi c
hDAS Hwa sforked—a ndba c
ktoBitcoi
n(itis
signic antthatDAS Hreturnedinenormoust oBi
tcoi
ncodeba se)
.Eachofthe
threeoft hesecoinshaveinvestedenergyi nthema i
n10cryptographic
f
or msofmoney .

BNXXisconti
nua l
lyatt
emptingtoenhancethes
epasti
nnovati
onsonit
s
own.Intha
tca paci
ty,
incl
udesoncee x
ecutedbyBNXX,f
orexample,
theear
ly
PoW st
age,CoinJoi
n,andtheresi
gnedteeter
-t
ott
ercomponentcl
earapat
h
forpr
ogres
sivelyaspi
ri
nghighli
ghts
.

2
Whi
tePaper[ver
sion1.
01,June2020]

BNXXCoi
nSpec
s
Ma
ximum S
uppl
y:84MBNXX

Pr
emi
neAmount
:10MBNXX

PoW Pha
sePer
iod:
Hei
ght0-Hei
ght200

PoSPha
sePer
iod:
Hei
ght201-

Bl
ockT
ime:
1Mi
nut
e

PoSE
li
gibi
l
ity
:30c
on r
ms

Mi
nimum Con r
ms:
6con r
ms

Rewa
rdMa
tur
it
yCon r
ms:
6con r
ms

Ma
ster
nodeCol
l
ater
al:

Bef
orebl
ock#
24844:
1,000BNXX

Af
terbl
ock#
26845:
10,
000BNXX

Def
aul
tFee:
0.0024BNXXpert
rans
act
ion

Ma
ster
nodeRewa
rds
:80%ofbl
ockr
ewa
rds

t
Sak
ingRewa
rds
:20%ofbl
ockr
ewa
rds

Rewa
rdHa
lvi
ngI
nter
val
:21,
0000bl
ock
s

3
Whi
tePaper[ver
sion1.
01,June2020]

QUARKAl
gor
ithm
QUARKi sanal
gor i
thm forminingcryptoc
urrencybasedonaone- l
evelhash
funct
ion,whi
chc onsi
stsofninelevel
sofencryptionbys i
xdifferent
crypt
ographi
ca l
gorit
hms .QUARKi snotdema ndingforlar
gea mountsof
RAM. Al
so,t
heQUARKha sahigh64-bitpr
otecti
ona gains
tha c
kerattac
k s
.
QUARKi sal
sorema rk
ableforitsl
owpowerc ons umption.

TheQUARKc r
y pt
ographichashi
ngalgor
it
hm pr
ovi
desa
noutputf
rom c
hai
n
hashi
ng(SHA-512)s
ixdifferentcr
ypt
ographi
cdi
gest
sni
net
imes.T
hetype
andorderoft
hesedigestsareasf
oll
ows:


blake

bmw

groest
lorsk
ein

groest
l

jh

blakeorbmw

sha-3(k
eccak
)

skei
n

sha-3(k
eccak
)orj
h

Thispatternisunderstanda bl
ymor esecuret
hanBitcoin’
sS HA-256itsel
f
,
evenifSHA- 256’ss
ec ur
ityisnotnecessa
r i
lyi
nquesti
on. Although,the
QUARKa lgori
thm i
nt urnr equi
resmorec omputi
ngt i
met hanSHA-256,ina
proofofwor kenv i
ronmentwher ehashi
ngdi fficult
yisdes ir
able,t
hishasno
nega t
iveeffec t
.Besidesec uri
ty,
attheti
meofi t
sc r
eati
on, thi
sa l
gorit
hm
al
lowedf orinexpens i
vec omput i
ngequipmenttopa rti
cipateinmining,as
noc ommer c
ialASI
Cwa sa vai
la
blewithQUARKa lgori
thm ha shi
ngc apabil
i
ty.

4
Whi
tePaper[ver
sion1.
01,June2020]

TheGenes
isBl
ock(
Bloc
k0)
ThebirthoftheBi tcoinGenes isbl ock,a
lsoknowna sblock0, conta i
nst he
rs
tBitcoi
nsa ndwa slaunc hedonJ anuary3,2009,aft
ertakingsixda yst o
mine.Tocompa re,t
hec urr
entmi ningofablocksimil
artotha twoul donl y
t
a k
eaf ewmi nut es.Therefore,itwa swithhundredsofotherc urrenc i
es.
Thefoll
owingBi tcoinbl ock,knowna sBlock1,wasn'
tmi nedunt ilsixda ys
aft
erthefact,onJ an.9. Thi
sisv ieweda sodd,asthenor maltimes tampga p
l
inki
ngbl ocksis10mi nutes.Ther ea r
eac oupl
eofhy pothesesinr ega r
dsto
t
hedef err
al.
S omeha vehy pot hes i
zedthatNakamotowentt hroughs i
xda ys
miningthe rs tblockt otryoutt heBit
coinfra
mewor ksoa stoens ureitwas
s
teady.

Si
ncetheGenesisBl
ocksta
rtedthewa ytowardex c
hangingBitc
oin,Bi
tcoi
n
f
ansholdtheGenesisBl
ockinas ortoffact
ion-l
i
kewor shi
p,astheydoits
maker
.Fansareatt
ract
edtoBi t
coin'
sesoteri
cdev el
opa ndeccentr
icja
rgon
wi
ththeintensi
tyofone xatedona na dvanceda r
cadegame .

Bit
coi
nNexx’
sGenes
isBl
ocka
lsoc
ont
ainst
he r
stNe
xxBi
tcoi
nswhi
chi
s
10,
000,
000.

5
Whi
tePaper[ver
sion1.
01,June2020]

Mi
ningRoadMap
I
nc ontr
as tt
oe x ibl
ecurr
ency,notwithst
andi ng,BNXXdoesnotc ommi t
upona noffic i
alc hoi
cetodoa ssuch,nordoesi trespondt oal
ignci
rcl
i
ng
vol
umet oc reditv ol
ume .
Thema inimpa ct
ingf actorsaret
hosedependent
one xc
ha ngev olumea nde x
pensec onsumi nga sdec i
pheredbya
cal
culat
ion.Atahi ghpaceofexchangesev erys econd,thecoi
ngracef
ull
y
consumingwi llapproachas i
milars
um a sitisproduc i
ng,ma k
ingakil
l
ing
i
mpa ctont hec oine x
ibl
y.

It
'simper at
ivetota k
enot eoft hefac tthattheoutowv ersuscons ume
adjusti
ngc alcul
ati
onc ontr
olsthec oingr ac
ef ull
ybec aus eoft helatest
conditionofthebl ockchain.Nobui lder,holder,miner ,ors omeot hers ectcan
ma kenewc oini
nv entory.Thec al
cula ti
ongua r
anteest ha tthea bsenceofa
coin-qua nt
it
yha rdca pwor ksforas trongec onomyf orBNXXa sac urr
enc y
.
Ast hebl oc
ktimei ntenti
oni s60sec ondswi thBNXX, theec onomyi skeptup
cont i
nuous l
y,daybyda y.
Thes ubsequenta rethea pe xc oinstoc k
pi l
e
esti
ma
mt iondependentont hecurrentBNXXc oi
ninv ent orya l
gor i
thm:

AtJ
uly2020:
10,000,
000BNXX
ByJ
uly2024:31,
000,
000BNXX
ByJ
uly2028:41,
500,
000BNXX
ByJ
uly2032:46,
750,
000BNXX
ByJ
uly2036:49,
375,
000BNXX
ByJ
uly2040:50,
687,
500BNXX

Hy potheti
calma xi
mumswi l
ll
ikelybelowerbecauseofexpensec onsumi
ng
plusincompletes pendingage.Intheinci
denttheequal
izat
ionoft heBNXX
consumi ngcalculat
iongetssubstandardf
orthewellbei
ngoft heBNXX
economy ,
theissuewi l
lbetakenupbyt hedecentr
ali
zedgov ernmenttocas
t
aba ll
otupont hebes tarr
angement .

6
Whi
tePaper[ver
sion1.
01,June2020]

Pr
oofofSt
ake(
PoS)Cons
ens
us
I
nc ont ra
s ttoi t
sforerunner s—Bi t
c oin,Lit
ecoin, Da sh,a ndPI VX—t heBNXX
arr
a ngec a pa ci
ti
esonaPr oofofS ta kea c
cordc alcul at
ion.The r stidea
dependedv i
gorouslyont het houghtof" coina ge", orhowl onga nUTXO
(UnspentT ransacti
onOut put) hasnotbeenbl ownont hebl oc kchai
n.Along
thesel i
nes ,itcontra
stsfrom Pr oofof Wor kbynotc onc entratingona nd
remuner at i
ngmi ners,yetr atherc ompens at
inga ny bodyr eadyt otakea n
i
nter esti
nt herunningoft hes yst
em. Theconv ent ionwa saddi t
ionall
y
renedi nPoSr enditi
on2f orBl a
ck CoinbyPa v elVa sin(Ra t
4) withafew
potent i
als ec ur
it
yx es,fore xa mpl e,thecapa bil
ityofama lev ol
enthubt o
ma nha ndlec oi
na getopl ayoutat wof oldspend; orthepot entialf
or
l
egitima tehubst omi sha ndlet hef ramewor kbyma rki
ngj ustoc casi
onall
y,
null
ifyingc oi nagefrom a gr eement .
T hehea rti
nes soft hePr oofofS takewas
additionallyi mprovedi na na dapta t
ion3oft hec onv ent i
ont owa rdthe nis
h
of2016.

Basically,s
ta ki
ngisma k i
ng gur i
nga s
setsaccessi
bletothes ystem,whi ch
ma y"s elect"thenodet opr oducethef or
thcomi ngblockont hec hai
n
dependentondel i
mi tedrivalr
y.Ona ccountofBNXX, t
hes ecutoffpoint sare
different ia
tedbyt hinkinga boutthepa ri
ty(UTXOs )ma r
kedbyt hewa l
let—
eachma rki
nghubi sc ontendingattempt ingtoma keas ubstantia
lblock ,
particularl
yl ik
einPoW. Hubs,betha tasitma y,
a r
ea c
tuallyr
estric
tedint he
qua ntityofpr eli
mina ri
esinagi ventime( taki
ngoutt herequirementf or
higherr egisteri
ngpower )andthetroublet ogetas ubst
a nti
alblockis
cont r
ar i
lyrelati
vet othes um beingma rk
ed. Ahigherequa li
zati
onimpl iesa
higherpos sibi
li
tyoff ull l
ingthetroubler ul
es,approvi
ngt hebl ock,
and
beingc ompens at
ed.

7
Whi
tePaper[ver
sion1.
01,June2020]

Pr
oofofSt
ake(
PoS)Cons
ens
usCont
inued
Marki
ngisf
undamental
lyl
essr
eques
ti
ngona s
set
sthanPoW mi
ning,
as
t
hereisnocompel
li
ngreas
ontopushtowar
dsconsi
st
entl
yexpa
nding
t
roubl
e ,
andther
ela
tedinc
rementi
n guri
ngcapaci
tytos
ett
lei
t.

Accordingly,PoSisa nec ologicall


ynei ghbor lyopt i
onincontrasttoPoW.
Whilsttheenv ir
onment alfactora l
onea sofnowa s
sis
tsPoSwi t
hc ontras
ti
ng
PoW, thereisanot herfactortobet houghtof ;keepingupar easonable,
diss
emi na t
edpowerov erthes ystem, whic houghtt obeahi ghneedf oc
usof
anyc r
y ptocurr
enc y.Witht hee xtendingt roubl ei
nmi ningthatrequiresal
l
themor erema r
ka bleappa ratusestha tcostmor etorun,thecapa ci
tyfor
i
ndividua l
stopos s i
blywor ks ucha ppa r
atus esturnsouttobemor e
rest
ricti
ve.Sucht hingsa sthee xpens esofequi pment ,
powerut il
i
zation
spenton gur i
ng, andf urtherut i
li
zationonc ooling,precl
udeal ar
genumber
ofareasa sreasona bleformi ning.Una voida bly,t
hisoutcomesinal otof
i
ntens i
tyhel dbymi ners,
ofwhi chlessandl es scans t
aycomba tiv
e ,
prompt inga nimpos i
ngbus inessmodel inr emuner ati
ons,yeti
nc hargeof
syst
ems .

8
Whi
tePaper[ver
sion1.
01,June2020]

BNXXPr
oofofSt
ake-I
dent
ityandSec
uri
ty
BNXXus ess ta
k i
nga siti
sa nempha t
icallyhel dsitua ti
oni ns i
deBNXXt hata
reasona bleopt i
oni ncontrasttoPoW i si mpor tantf oradec ent r
ali
zed
cry
pt oc urrenc ytobes ubstant i
al,plaus ible,andi nv iti
ngt onewc omer s.
The
pla
noft heBNXXPoSf ramewor kispur pos efull
yc us tom t t edtodev el
ops o
thatdev elopmentoft hesystem a ndf ur thera ppropr iati
onwor kforthe
sys
tem, ins teadofs t
alli
tands potlightpoweronas electga theri
ng. BNXX
excha ngeswi llsta
yc onvenient ,
wi thv ersa ti
lebloc ks izescomi ngs oont o
guara nteet hi
s—t heywi l
lstaypr i
v ate—j ustget t
ings ignic antl
yha rderto
fol
l
owa snewus agefoll
owingBi t
c oinNe xxa ndt heywi l
lsta ydecent ral
iz
ed.
Reac ti
onst owa rdsPoSa gr
eements y
stemsdoe xist,fore xampl e,l
ikely
twofol ds pendi ng,andwea k nessest ol ong- rangea ndnot hingi nques ti
on
ass
a ults.S taki
ng/ Ma s
ter
nodebenet sc allfor100s equent ia lc
on rma ti
ons,
ma kingt hem s penda bleafter101bl oc kc on r ma ti
ons ;t
hisens uresa gainst
arr
anges trengtht hr
oughper nici
ousma rki
ngi ncludi nge x ponent i
al
development ,wer eawea knes sev ertobef ounda nda bused.

AnotherproposedPoSwea knessisalong-range,orhis
tor
ya s
sault
,wherei
n
earl
yblocksarereworked,t
radi
ngofft hebl ockc
ha i
n.Consequentl
y,
checkpoi
nts—bl ockc
ha i
nma rk
ersseta ts
pa nsf
oresta
ll
inganyadjust
ment/
for
kingprecedingthem—a r
eutil
i
zedt okeepupt helegit
imatechai
n,and
helpbysecuri
nga gainstl
ong-r
una ss
a ult
s.

Aneffectiv
ePoSa ssaultwouldenor mous l
ydimini
shthea ggressor
's
advant
ageswhenf ound, whi
leafruitf
ulPoW ass
aultmayc ostanassai
la
nt
j
ustpower.Addit
ionall
y ,BNXXma rkingcanbedec entr
ali
zeda mongt he
enti
ret
yofitscl
i
entsa ndc annotbef ol
lowedbypowerus e ,whil
eminingis
genera
ll
ybroughttoget herbymi ningc ar
tel
s,movedindistri
ctswit
hmodes t
power,andisdi
scerni
bl ebyhighc onsist
entf
orcerequest
.

9
Whi
tePaper[ver
sion1.
01,June2020]

Mas
ter
nodeDec
ent
ral
izedGover
nanc
e
AsaDec entral
izedAutonomousOr ga ni
zati
on( DAO),BNXXwor k
sa nd
submitstoitsownl oca
lesel
f-
admi nis
trat
ion.Noonei ndivi
dual
,norasmall
er
assor
tmentofi ndivi
duals
,havethec apaci
tytodirectthebear
ingwherei
n
BNXXdev elops.Thi
sna t
ural
wa ytodea lwithadmi ni
str
ati
onisexpect
edto
drawthemos ti
ncentiv
efrom i
ndividual
sf r
om theBNXXa s
soci
ati
on,who
themselvesactinthei
rowna ggrega t
ewel l
being.

Themet hodst hr
oughwhi chthistypeofadminist
rat
ionisri
ghtnow
accomplis
hedi sthrought heMa sternodest
ructur
e.Atpresent,
Mast
ernode
administ
rat
or sar
ea llowedt hecapac i
tyt
odecideonr ec
ommenda ti
ons
ma debynet workindi v
idualswiththee x
pecta
tionofbetteri
ngBNXX,or
condit
ionsforit,
her eandt here
.

Whi leMa ster


nodea dmi nist
ratorsa sofnowhol dthes el
ec t
iveopt i
onto
dec ideonr ecommenda ti
ons ,
thi sdoesnotpr ohibitdifferentindivi
duals
from t heBNXXpeopl egr oupf rom a ffecti
ngupont hef at
eofBNXX. Anybody
ca nma keapr oposit
ionf orthought .Cha nnelsofcorrespondenc ee x
ist
throughwhi chal
lnet wor ki
ndiv idualsarefreetopa r
ta k
ei nconversati
onson
cur r
entpr oposi
ti
on, j
usta sther eeva l
uati
onofe x
isti
ngunder takingswentin
pa stv otes.Al
ongt heselines,byt akinga ninteres
tinc onversati
onsa nd
offer ingi nput,al
li
ndi vi
dua l
sfrom t heBNXXa s
sociat
ionha veac omment ary
,
rega rdlessofwhet hertheyc annotma keac hoice
.

Whi l
ethisfr
a mewor kprof
oundl yscatt
erspower
, i
tisi
mpor ta
nttha twhen
puttoc astaba l
lotasofla
te, t
heBNXXc ommunitycastedaba l
l
otf or
additi
onal c
onv eyingpowert hroughthenetwork.Thusly
,iti
sahighneed
objecti
vein2020t ochooseat ypeofCommuni t
yDes ignedGov ernance—an
administ
ra t
ionpl a
nnedbya ndforthenetworkthatalli
ndivi
dualsfrom t
he
networkc anc oncurist
oev erybody'sgr
eates
tadvantage.

10
Whi
tePaper[ver
sion1.
01,June2020]

For
ks
Fork
sareidentiedwiththewayt
hatvari
ousgatheri
ngsneedtoutil
i
ze
normalpri
ncipl
estokeepupthehi
stor
ica
lbackdropoftheblock
chai
n.At
thepointwhengatheri
ngsar
enotinunders
tanding,
elect
ivechai
nsmay
ari
se.

Whi l
emos tf
or k
sa r
ebri
ef,
s omeforksareperpetual
.Fleeti
ngfork
sare
bec a
us eofthet r
oubleofarri
vi
nga tquickagreementinac ir
cul
ated
fr
a mewor k.Thoughperpetualfor
ksha v
ebeenut i
l
izedtoa ddnewhighl
ight
s
toabl ockchain,toswi
tchtheimpac t
sofhac k
ing,orca t
acl
y s
micbugsona
blockchain.

Fork
scana l
sobedelegatedina
dv er
tentorpurposef
ul.Anunintentionalf
ork
happenswhena tleas
ttwodiggersdis
coverablockataboutas imilar
ti
meframe.Theforki
ssettl
edwhenens ui
ngbloc k
(s)a
reincludeda ndoneof
thechai
nsturnsouttobelongerthanthealt
ernati
ve(
s).Thesystem for
sakes
theobstr
uctsthatar
enotinthelongestchai
n(theyarecall
eds t
randed
bloc
ks)
.

13
Whi
tePaper[ver
sion1.
01,June2020]

For
ksCont
inued
T
her
ear
etwot
ypesoff
ork
swhi
chc
anoc
cur
;ha
rdf
ork
sands
oftf
ork
s.

Ha
rdf
ork

Aha r
df orkisas t
andardcha ngetosucha ne xt
enttha ttheproduct
appr ovinga si ndic
atedbyt heoldprinci
pleswills
eet hebl ocksc
rea t
edby
thenewgui del i
nesasinvali
d.Ift
hereshouldbea noc c urr
enceofaha rdf ork
,
allhubsi ntendedt oworka sperthenewgui deli
nesneedt oredesignt heir
produc t.Ont heoffc hancet hatonegatheri
ngofhubsk eepsonut i
li
zingt he
oldpr ogrammi ngwhiledifferenthubsuti
lizethenewpr ogramming, a
cha ngelesss plitcanhappen. Ontheotherha nd,tofores t
all
alast
ings pli
t,a
grea t
erpa rtofhubsut i
li
zi
ngt henewpr ogrammi ngma ycomeba cktot he
olds tandards .

S
oftf
ork

Asoftforkoras oftf
ork
ingc ha
ngeispor t
rayedasaforkintheblock
chain
whichc anha ppenwhenol dsyst
em hubsdonotk eepas ta
nda r
dfoll
owed
bytherec entl
yredesi
gnednodes .
Thiscouldma k
eol dhubsacknowledge
i
nvali
di nf
or mati
on,orbecomeoutofs yncwi t
houtthecli
enttaki
ngnote.
Thi
sdivergesf r
om ahard-
fork,wherethehubwi l
ltossamistak
ea ndquit
handli
ngnewe xc
hanges.

14
Whi
tePaper[ver
sion1.
01,June2020]

Wea
reher
etohel
p!

I
fyouhaveanyquesti
ons,
youcangeti
nt ouchwi
thusat
t
eam@bitcoi
nnexx
.com wi
thanyquest
ionsyoumayhaveaboutBNXXor
s
implyj
usttogett
ok nowus.
Wet r
ustthi
sisanunmi
sta
kablecl
arica
tion.

Ontheoffchanc
etha
tyouha v
eanyfur
theri
nqui
ri
eswit
hrespec
ttot
he
ha
lvi
ngofBit
coi
nNexx,
kindl
ydonothesi
tat
etogeti
ntouchwit
hus.

ha
T nky
ou!

i
i
i
Whi
tePaper[ver
sion1.
01,June2020]

T
heupda
tingoft
hiswhit
epaperver
si
onwil
levent
ual
l
ycome
wi
thti
mea ndimpr
ovementofBNXX.

i
v

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