These docs are a continuous work in progress. Please help to improve them by providing feedback.
Blue0x is focused on overhauling the current financial system by identifying and rectifying its weaknesses and inequalities. It provides a network to bridge the gap between tangible goods and services and a sustainable, decentralized cryptocurrency. Blue0x transactions are processed using a lightweight, energy-efficient, proof-of-stake consensus protocol which has proven itself to be secure and reliable. The network is designed to be fully decentralized with no central point of failure. The Wallet, the Marketplace and the Exchange are all modular sections of the entire network that interact with each other and operate fully on-chain and in real-time.
Benefits of the Blue0x network :
Enhanced Security: Blue0x's decentralized and immutable nature provides robust security for financial transactions. By using cryptographic techniques, the blockchain ensures that transactions are tamper-proof and resistant to fraud and unauthorized changes.
Increased Efficiency and Speed: Blue0x enables faster and more efficient transactions by removing the need for intermediaries and streamlining the settlement process. This leads to quicker transaction times, reduced costs, and improved overall efficiency of financial transactions.
Improved Transparency: Blue0x's transparent ledger allows for greater visibility and accountability in financial transactions. It enables participants to track and verify transactions, reducing the risk of fraud and enhancing trust among users.
Financial Inclusion: Blue0x has the potential to provide access to financial services for the unbanked and underbanked. Blue0x is and never will be permissioned. User cannot be denied access to, or prevented from using any services.
Within the Blue0x Network :
CURRENCIES - currencies modeled after real-world fiat currencies
MARKETPLACE - buy and sell physical goods and services in your native Blue0x currency
EXCHANGE - exchange your native Blue0x currency with other Blue0x currencies around the world
This facilitates a real use case for a cryptocurrency network, not simply speculation of price in relation to fiat currency. Blue0x does not plan to have any fiat currency on/off ramps and is not intended to be traded on any of the centralized exchanges. Blue0x strives to have a fully self-contained ecosystem, independent of fiat and other cryptocurrencies, that will evolve into a well trusted platform to ultimately replace the current financial system.