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 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.