Neoxa is a cryptocurrency that aims to revolutionize the gaming industry by rewarding gamers through its unique “Play to Earn” (P2E) mechanism. Built as a fork of Ravencoin, Neoxa leverages the strengths of the KawPow algorithm and asset creation capabilities to create a sustainable and versatile gaming ecosystem. This whitepaper outlines the fundamental principles, technical aspects, and roadmap of Neoxa.
1.1. Cryptocurrency and Bitcoin
Cryptocurrency is a form of digital currency that relies on cryptography and decentralized control for secure transactions, without the need for a central authority. Bitcoin, the first decentralized cryptocurrency, was introduced in 2009 by an individual or group under the pseudonym Satoshi Nakamoto. The Bitcoin protocol uses a consensus mechanism called Proof of Work (PoW) to validate and record transactions on a decentralized public ledger called a blockchain. This groundbreaking innovation laid the foundation for the development of numerous other cryptocurrencies and blockchain-based technologies.
1.2. The Need for Neoxa
While Bitcoin and other cryptocurrencies have made significant strides in revolutionizing financial systems, the gaming industry has largely remained untouched by this paradigm shift. Neoxa aims to change this by creating an ecosystem that rewards gamers for their participation and engagement in various games, while also providing a marketplace for in-game items.
- Neoxa: Overview
2.1. Launch and Purpose
Neoxa was launched on May 18, 2022, as a fork of Ravencoin, a blockchain platform for the creation and management of digital assets. The primary objective of Neoxa is to provide a platform that rewards gamers for playing on Neoxa Rust, GTA FiveM, and Minecraft servers, while simultaneously establishing a marketplace for in-game items.
2.2. Play to Earn (P2E)
Neoxa utilizes Play to Earn (P2E), which rewards gamers for their participation and engagement in supported games. P2E leverages the existing strengths of Ravencoin’s consensus algorithm, KawPow, which is designed to be ASIC-resistant and GPU-friendly.
2.3. Neoxa Marketplace and Burning
Neoxa’s ecosystem includes a marketplace where users can spend Neoxa to purchase in-game items. Once spent, the Neoxa are burned, effectively reducing the total supply and creating a deflationary effect that benefits long-term holders.
- Technical Aspects of Neoxa
3.1. Forking from Ravencoin
Neoxa is a fork of Ravencoin, which itself is a code fork of Bitcoin, with certain modifications to suit its purpose. By leveraging the strengths of Ravencoin, Neoxa inherits its robust security features, asset creation capabilities, and community-driven development.
3.2. KawPow Algorithm
Neoxa utilizes the KawPow algorithm, which is the same consensus mechanism used by Ravencoin. KawPow is an ASIC-resistant, GPU-friendly algorithm that is based on ProgPoW (Programmatic Proof of Work). KawPow’s ASIC resistance ensures a more decentralized mining environment, preventing the centralization of mining power and fostering a more inclusive and secure ecosystem.
- Neoxa Assets
4.1. Inherited Asset Creation Capabilities
As a fork of Ravencoin, Neoxa inherits the asset creation capabilities that allow users to create and manage digital assets on the Neoxa blockchain. These assets can represent anything from in-game items to digital collectibles, providing a versatile platform for various use cases in the gaming industry.
4.2. Asset Issuance and Management
Neoxa enables users to issue and manage digital assets easily and securely, with features such as asset reissuance, unique asset names, and customizable metadata. This flexibility allows game developers and community members to create, trade, and utilize digital assets for various purposes within the Neoxa ecosystem.
- Neoxa Gaming Ecosystem
5.1. Supported Games
At its inception, Neoxa supports three popular games: Rust, GTA FiveM, and Minecraft. By integrating these games with the Neoxa blockchain, players can earn Neoxa through their in-game activities and achievements, providing a novel way to monetize their gaming experience.
5.2. Future Expansion
Neoxa plans to expand its gaming ecosystem by adding support for more games and platforms in the future. This expansion will broaden the reach of the Neoxa ecosystem and provide more opportunities for gamers and developers to benefit from the platform.
- Neoxa Roadmap
6.1. Fork to DASH Codebase
Neoxa will fork to the DASH codebase while retaining the assets from Ravencoin and the KawPow mining algorithm. The DASH codebase offers features such as InstantSend and PrivateSend, which enable faster and more private transactions. Additionally, by adopting the DASH codebase, Neoxa will introduce the concept of smartnodes, which will further enhance the platform’s security and transaction efficiency. This transition aims to improve the overall user experience and provide a more efficient and secure transaction system for the gaming ecosystem.
6.2. Gaming Panel Development
Neoxa is developing a comprehensive gaming panel that serves as a centralized hub for all Neoxa-supported games. This gaming panel will provide a seamless and user-friendly interface for gamers to track their stats, daily payouts, and in-game activities. Additionally, it will allow users to access the Neoxa marketplace, link their gaming accounts and payout wallets, and view transaction details through a dedicated payout explorer.
6.3. P2E Implementation and Integration
The development team will work on implementing and refining the Play to Earn (P2E) mechanism, ensuring that it rewards gamers fairly and consistently across supported games.
6.4. Marketplace Development
Neoxa’s marketplace will be further developed to provide a seamless and secure experience for users. All Neoxa used for transactions on the marketplace are permanently removed from circulation through a burning process.
6.5. Wallet and Explorer Improvements
Neoxa will continue to improve its wallet and blockchain explorer, providing users with an enhanced user experience and easier access to their digital assets and transaction data.
6.6. Community Development and Outreach
Neoxa will focus on growing its community through outreach, partnerships, and collaborations.
Neoxa aims to revolutionize the gaming industry by providing a platform that rewards gamers for their participation and engagement in various games, while also enabling the creation, trading, and utilization of digital assets. By leveraging the strengths of Ravencoin’s KawPow algorithm and asset creation capabilities, Neoxa has the potential to create a sustainable and versatile gaming ecosystem that benefits both gamers and developers alike.
- Security and Privacy
8.1. Secure Transactions
Neoxa leverages the security features inherited from Ravencoin and Bitcoin, ensuring that transactions are protected using advanced cryptographic techniques. By utilizing a decentralized network and consensus mechanism, Neoxa ensures that transactions are resistant to fraud and censorship.
While Neoxa does not provide the same level of privacy as privacy-focused cryptocurrencies like Monero, it still offers a reasonable degree of privacy by utilizing pseudonymous addresses for transactions. Users can take additional steps to maintain their privacy by using multiple addresses and practicing good operational security.
- Economic Model
9.1. Coin Distribution
Neoxa are distributed through the Play to Earn (P2E) mechanism and mining rewards. This distribution method ensures a fair allocation of to participants in the ecosystem, incentivizing both gamers and miners to contribute to the platform’s growth.
9.2. Deflationary Mechanism
The Neoxa marketplace features a burning mechanism, whereby Neoxa spent on in-game items are permanently removed from the circulating supply. This deflationary mechanism creates scarcity and may contribute to the long-term value of Neoxa.
- Challenges and Potential Solutions
Adoption and Market Penetration
To achieve widespread adoption, Neoxa will need to overcome barriers to entry and create compelling value propositions for gamers, developers, and other stakeholders in the gaming industry. By refining its Play to Earn mechanism, expanding its gaming ecosystem, and building strong partnerships, Neoxa can increase its market penetration and establish itself as a leading platform in the gaming industry.
In conclusion, Neoxa represents a novel approach to integrating blockchain technology into the gaming industry, with its unique Play to Earn mechanism, marketplace, and asset creation capabilities. As the platform continues to develop and expand, Neoxa has the potential to reshape the gaming landscape by providing new opportunities and rewards for gamers, developers, and other stakeholders.
- Tokenomics of Neoxa
The Neoxa tokenomics model is designed to support a balanced and sustainable ecosystem by distributing rewards among smartnodes, Proof of Work (PoW) miners, Play to Earn (P2E) participants, and developers. The tokenomics model is as follows:
- 45% Smartnodes
- 45% Proof of Work (PoW)
- 5% Play to Earn (P2E)
- 5% Developer Fee