What is the BlackFort Exchange Network (BXN)? - Bitfinex blog
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What is the BlackFort Exchange Network (BXN)?

The BlackFort Exchange Network (BXN) represents an advanced integration of Layer 1 blockchain technology with smartchain features, designed to facilitate fast, scalable, secure, and efficient management of digital assets and the execution of smart contracts. BXN’s compatibility with the Ethereum Virtual Machine (EVM) and its adoption of the Proof-of-Staked-Authority (PoSA) consensus mechanism allows for straightforward participation as delegators, promoting a transparent and decentralised network architecture. This infrastructure is specifically developed for developers and organisations seeking to utilise blockchain technology for innovative applications.

BXN’s smartchain technology is engineered to redefine the management and transfer of digital assets. It supports rapid and secure transactions among users and enables the deployment of smart contracts. It is this ability to manage complex transactions and smart contract interactions with a high degree of transparency and security that BXN offers as a key value proposition.

A significant focus on security and code quality is demonstrated through BXN’s comprehensive code audit process. In collaboration with esteemed third-party auditors like Certik, the platform ensures the integrity, efficiency, and compliance of its codebase with industry-leading standards. This rigorous auditing process not only bolsters the network’s security profile but also cultivates a sense of trust and openness with its user base, essential for the network’s continuous expansion and user adoption.

Featuring BlackFort’s PoSA consensus model, BXN combines the advantages of proof-of-stake with an authoritative validation mechanism to guarantee a decentralised and secure network. With participation from over 60,000 delegators spanning more than 120 countries, BXN demonstrates its capability for broad distribution and scalability. This consensus model highlights BXN’s cutting-edge approach in the realm of blockchain technology, offering a sturdy and decentralised framework for the management of digital assets and the development of blockchain-based solutions.

What is the BXN Token?

The BXN token serves as the cornerstone of the BlackFort Exchange Network’s ecosystem, a Layer 1 blockchain designed for enhanced efficiency and scalability in digital asset management and smart contract implementation. As an integral component of this ecosystem, the BXN token facilitates a variety of operational functions, including transaction fee payments and the execution of smart contracts. It plays a pivotal role in maintaining the network’s security and efficiency, leveraging blockchain technology’s potential to offer novel solutions in the digital economy.

Beyond its utility in transactional processes, the BXN token is central to participating in the network’s consensus mechanism, PoSA. This mechanism allows token holders to become validators or delegators within the network, contributing to the validation process and thereby ensuring the integrity and security of the blockchain. The PoSA model fosters a more inclusive and decentralised network structure, enabling widespread participation across the platform’s global user base.

BXN tokenomics are designed to support the network’s long-term sustainability and growth. With a predefined total supply, the distribution of BXN tokens is carefully planned to support network operations, incentivize participation, and facilitate the platform’s expansion. This includes rewards for validators and delegators who play a critical role in network security, as well as allocations for developmental initiatives that drive the adoption and utilisation of the BXN blockchain.

Furthermore, the BXN token embodies the network’s commitment to transparency and security. Regular audits by reputable third-party organisations ensure the token’s adherence to the highest standards of blockchain security and operational efficiency. This rigorous approach to security and compliance underscores the network’s dedication to building trust with its users and solidifying its position within the broader blockchain and digital asset ecosystem.

BXN Tokenomics

BXN Sale-Turnover Dedication

How to buy BXN with crypto on Bitfinex

1. Log in to your Bitfinex account or sign up to create one.

2. Go to the Deposit page.

3. In the Cryptocurrencies section, choose the crypto you plan to buy BXN with and generate a deposit address on the Exchange wallet.

4. Send the crypto to the generated deposit address.

5. Once the funds arrive in your wallet, you can trade them for BXN. Learn how to trade on Bitfinex here.

How to buy BXN with fiat on Bitfinex

1. Log in to your Bitfinex account or sign up to create one.

2. You need to get full verification to be able to deposit fiat to your Bitfinex account. Learn about different verification levels here.

3. On the Deposit page, under the Bank Wire menu, choose the fiat currency of your deposit. There’s a minimum amount for fiat deposits on Bitfinex; learn more here.

4. Check your Bitfinex registered email for the wire details.

5. Send the funds.

6. Once the funds arrive in your wallet, you can use them to buy BXN.

Also, we have Bitfinex on mobile, so you can easily buy BXN currency while on-the-go.

[AppStore]  [Google Play]

BXN Community Channels

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