MaxxChain is an EVM Layer 1 PoW Blockchain network that is decentralized, secure, and programmable powered by the PoW consensus mechanism that validate transactions, allows developers to build decentralized applications (dApps) and execute complex smart contracts using the EVM.
At the heart of MaxxChain is its native blockchain coin, PWR (Power), which serves as the network's fuel and represents the collective strength of the community that contributed to its development. PWR plays a vital role in conducting on-chain transactions, facilitating payments, covering fees, and enabling seamless navigation within the MaxxChain ecosystem.
MaxxChain operates as a proof-of-work (PoW) consensus, which results in the minting of 5 coins with each successful block mined. Gas fees incurred for on-chain transactions is shared among miners. To maintain a balanced ecosystem, MaxxChain will implement fees on all on-chain utilities to counterbalance the newly minted coins through burn. The team is presently executing a weekly burn of 1,201,600 PWR coins from the treasury supply to offset the number of coins minted by miners. In addition, an extra 1,000,000 PWR coins are being burned. This process will persist for 52 weeks from the beginning, followed by a sustained weekly burn of at least 201,600 PWR coins for the subsequent 52 weeks.
In terms of technology, the team has worked diligently to establish the necessary infrastructure, and they will continue to invest in ensuring the security and protection of user data and digital assets. Robust security protocols, multi-factor authentication, encryption, and regular security audits will be implemented to mitigate risks associated with hacking, fraud, and unauthorized access
The team will also closely monitor legal and regulatory developments in the blockchain and cryptocurrency space to ensure alignment with evolving requirements. Legal advisors will provide guidance on compliance challenges, and strong governance practices will be established. The team is also working to establish themselves as a registered business offshore for increased flexibility as MaxxChain expands.
For further details regarding the successful presale of our native blockchain coin, PWR (Power), click here.