(New Whitepaper coming very soon!)
The Neoxa Whitepaper V1.1
Legal Notice: Neoxa does not offer financial advice or advertise the sale of $NEOX. The Neoxa blockchain does not have a premine. Nothing in the whitepaper should be read as guaranteed. The whitepaper only outlines current plans for Neoxa.
Blockchain technology as we know it today was founded in 2008 by “Satoshi Nakamoto”. While the creator of Bitcoin is unknown, the technology is used by many around the world.
Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved. – IBM
Neoxa makes use of blockchain technology created by Bitcoin and Ravencoin.
Ravencoin is a blockchain and platform optimized for transferring assets, such as tokens, from one holder to another.
Neoxa is a blockchain featuring assets and the ability to obtain cryptocurrency while playing various games and proof of work mining. While other cryptocurrencies use only Proof of Work(PoW), Neoxa uses PoW and Proof of Game(PoG). PoG is a new way for gamers to participate in blockchain technology, simply by playing games. Until now, the minable cryptocurrency communities and gaming communities have been separated by a graphic card shortage. With Neoxa, both these communities can come together and get a piece of the block.
While Neoxa does feature a new use case for blockchain technology, it functions the same as any other cryptocurrency. Neoxa can still be used to trade, transfer of value and purchases.
Neoxa is the first and only cryptocurrency with a Proof of Work blockchain to implement an earning mechanism on existing popular games.
Neoxa was announced on Bitcointalk on May 18, 2022, with social channels, website, and mainnet launch date. The mainnet was launched on May 19, 2022. At the start of the mainnet launch, a paper wallet was available and a GUI wallet after launch.
Neoxa currency specifications
Each transaction on the Neoxa blockchain is broadcasted to all nodes. Each node will work to find a difficult proof of work for its block. When the node finds proof of work it will broadcast the block to all the nodes.
The blockchain keeps a record of every transaction since the genesis block.
Nodes on the Neoxa Network will always consider the longest chain to be the correct one.
While the Neoxa blockchain has an explorer where users can see their transactions, their wallets can still be anonymous. Unlike the traditional banking system, the Neoxa blockchain does not link your name to your wallet, unless signed by you in your wallet.
Even though Neoxa is not a privacy-focused cryptocurrency, it has the same features implemented on the Bitcoin and Ravencoin blockchain.
Assets can be seen as tokens created by Neoxa users. Neoxa plans to integrate assets to the Neoxa Marketplace where developers can create their own asset for their video games on the Neoxa Marketplace. These tokens will be purchasable with $NEOX.
While Neoxa assets can be used in the Neoxa Marketplace, it can be used for many other things such as the transfer of value, art, registrations and much more.
When an asset is created, Neoxa is burned and the asset with a unique name is created.
Assets created on the Neoxa network can be traded and sold too. The token creator can also transfer ownership of a token to another wallet.
When an asset is created on the Neoxa blockchain, $NEOX is burned.
Neoxa also plans to burn any unused coins on Proof of Game. Currently only a third of Proof of Game coins are distributed. Neoxa plans to burn any other coins that are not being used by Proof of Game.
Less Neoxa will be burned when more games becomes available on Neoxa Proof of Game.
Proof of Work and Mining
Proof of work is a form of cryptographic proof in which one party proves to others that a certain amount of a specific computational effort has been expended. Verifiers can subsequently confirm this expenditure with minimal effort on their part. – Wikipedia
Neoxa uses KawPow as the hashing algorithm. The KawPoW algorithm is a tweaked variant of Programmatic Proof of Work (ProgPoW) developed by the Ethereum developers. The algorithm makes it harder for ASIC miners to join the network and gives GPU miners preference.
A block is mined every 60 seconds by Proof of Work.
The Neoxa Marketplace will be a place where developers can sell their video games, sell in-game items and cosmetics. The Marketplace will also feature an asset exchange, where each developer can sell their assets for $NEOX.
Let’s tell the story of Leeroy to understand the Neoxa Marketplace:
Leeroy is an upcoming gaming developer who develops Zombie Nation; he needs to get eyes on his game and also make some money on the side. He could place his new video game on a gaming forum, but selling it is a real problem. Leeroy is looking for an alternative and he finds the Neoxa Marketplace. With the Neoxa Marketplace, Leeroy can sell his game, in-game items and cosmetics. The Neoxa Marketplace is working for Leeroy and he now creates an asset for his game. He now sells Zombie Nation tokens for $NEOX on the Neoxa Marketplace asset exchange. Leeroy’s Zombie Nation tokens can now be used for his in-game purchases.
Proof of Game
Neoxa introduces a new earning mechanism to earn cryptocurrency while playing video games. With Proof of Game, gamers can “mine” $NEOX by simply playing video games. Gaming can be seen by many as simply wasting time, with Neoxa Proof of Game you earn while having fun.
Proof of Game can be implemented on any video game that allows custom servers and data tracking. While Proof of Game can be implemented without the use of custom servers, it will require an API to track statistics within the video game.
Instead of implementing Neoxa on a new game, Neoxa is implementing it on existing popular games. The implementation of Proof of Game is available for games that allow custom servers and the Neoxa team is not affiliated with any game studio.
The Neoxa development team plans to implement a Proof of Game earning structure on Rust, Minecraft, and GTA. More games in the future are possible.
Each game on the Neoxa Proof of Game servers will have a different earning structure. These structures will be added to the whitepaper as soon as more games are delivered.
While Proof of Game does not form part of the consensus currently, it may be implemented in the future. An in-game action could generate a hash, where essentially the blockchain accepts the hash, the same way it does with Proof of Work. This will be polled to the community at a later stage in development.
Currently, 10% of every block is rewarded to Proof of game. This will change in the future, read below.
Block structure: The Neoxa Way
Transaction data is permanently recorded in files called blocks. They can be thought of as the individual pages of a city recorder’s recordbook (where changes to title to real estate are recorded) or a stock transaction ledger. Blocks are organized into a linear sequence over time (also known as the block chain). New transactions are constantly being processed by miners into new blocks which are added to the end of the chain. As blocks are buried deeper and deeper into the blockchain they become harder and harder to change or remove, this gives rise of bitcoin’s Irreversible Transactions. – computersciencewiki.org
Currently, every block mined on the Neoxa network distributes 5000 NEOX. The block time is 60 seconds. Just like Ravencoin and Bitcoin, block rewards will halve in 4 years.
With the introduction of Proof of Game, the Neoxa blockchain to facilitate a block structure to reward miners and gamers, please see the breakdown below:
Within the first year of existence, Neoxa gives 85% of the block to Proof of Work miners, and 10% of the block to Proof of Game “miners”. Within the years before the first halving, this structure will change.
Year one (June 2022 – June 2023)
Within the first year since the Neoxa mainnet, the block structure is 85% for Proof of Work, 10% for Proof of Game, and 5% for the developer fund.
Neoxa use cases
Neoxa features the same use cases as any cryptocurrency, a digital peer to peer currency that can be used for transfer of value.
But here is what set Neoxa apart, Neoxa aims to be the currency used for gaming purchases, in-game items and cosmetics.
Below we will go through what Neoxa will be used for in the future.
- Transfer of value
- Transfer of assets
- Gaming purchases
- In-game item purchases
- In-game cosmetics purchases
- Assets purchasable with $NEOX
- Creator donations (tips)
- Server play-to-earn with $NEOX
- Gaming servers hosted with $NEOX payments
In the future, Neoxa aims to work with developers and hobbyists that would like to run their servers with a play-to-earn model. The problem most gaming server hosts face is to get a population growing on their servers. With the Neoxa play-to-earn model hosts will be able to purchase $NEOX to fund their own servers to get the population growing, as well as the opportunity to make a profit with in-game items and cosmetics.
The Neoxa vision is to allow gamers to be able to purchase their next game by paying with $NEOX. No longer will gamers have to think twice if they can afford to purchase a game. We believe that players should be allowed the opportunity to purchase their game by playing on a Neoxa Proof of Game server.