We are a young startup based in Singapore and Tokyo. Our project began with our developers, who are incredibly passionate about blockchain. Their driving force in creating this project was to create a blockchain solution that would finally bring blockchain into the everyday world. With high speeds, scalability, and security, we believe that BEXAM will finally make this dream a reality.
BEXAM is ideal for high-frequency transaction environments, especially enterprises. In fact, 84% of executives say their companies are actively involved in blockchain; however, 57% of executives say that implementing blockchain in their enterprises has been more difficult than they had expected. The major issue? For 42% of executives, it’s scalability. Only 7% of blockchain companies agree that it’s a major issue, which is why enterprise-scale blockchain is still a largely untapped market.
This is where BEXAM becomes an ideal solution: a scalable, secure, and high-speed blockchain platform that can empower businesses to new heights. That is, our platform can integrate smoothly and immediately into existing enterprise infrastructures, meaning that there are no major changes and interruptions for an enterprise’s users and customers.
Additionally, BEXAM provides a flexible chain structure which means enterprises can have multiple chains co-exist and behave as a single chain. Current solutions have enterprises choose from a Public, Private, or Consortium chain for their business; while businesses can maintain multiple chains, they are still inherently separate. An intermediary layer acts as a connection between the multiple chains, meaning that such setups are prone to data errors, delays, and more. With BEXAM, enterprises can host chains so that they behave like a single chain: the chain may be 80% private, and thus inaccessible to a majority of users, while the other 20% is public and accessible to any user.
We understand that businesses and enterprises don’t want to be left behind in the ever-growing blockchain movement, and want to become a part of this inevitable future. This is where we can and want to help.
The process for approving and appending new blocks to an existing blockchain is established by a consensus-building algorithm such as PoW, PoS, PoC, or PoA and executed through nodes that calculate the hash value based on established conditions.
In contrast, the new consensus-building algorithm known as PoR establishes which nodes will approve transactions in advance, and the sequence of approval of these node groups awaiting approval is decided in order of priority. Since each node approves transactions in this sequence, this completely eliminates the need to calculate hash values and removes the restriction of time needed to randomly choose, which has greatly improved processing speed.
The order of priority that determines the sequence of these approval nodes is calculated using the following factors.
- Node age.
- A number of successful transaction approvals.
Both of the above factors can be calculated by referring to past blockchain data. In this way, it is possible for any node to maintain impartiality regarding sequence because information is mutually distributed.
However, it is not hard to imagine that a major improvement in approval speed is a trade-off with security, and this is in fact true.
For example, the permutation of approval nodes can result in the approval nodes being specified, allowing malicious approvals. Furthermore, the elimination of nonces eliminates complicated operations, which allows transactions to be generated conveniently and manipulated more easily.