Tachyon (IPX) Overview
What is Tachyon Protocol(IPX)?
Tachyon Protocol is a decentralized internet protocol that aims to create a libre, secure and private internet for users. The Tachyon-based VPN, IoT, DeFi, Storage, CDN, DNS and other Apps will benefit more than 900 million users. By implementing techniques from DHT, blockchain, UDP and encryption, Tachyon is committed to building the next generation TCP/IP that can provide a self-sufficient internet environment with high security, untraceability, availability, and maximum network speed.
IPX Token is the native crypto currency of Tachyon Protocol project, residing on the V SYSTEMS blockchain network with 1,000,000,000 (one billion) total supply. It serves a clear purpose and utility in the overall Tachyon ecosystem.
IPX Token will be used to confirm provider nodes’ identity verification and incentive nodes to develop the network. Additionally, token holders can use it for trading and storing for value in Tachyon Market.
Tachyon Protocol (IPX) is currently ranked in the top 150 on CoinMarketCap with a market cap of over 17 million dollars. IPX has been listed on global exchanges like Bithumb, Bithumb, HitBTC, Hotbit and OceanEx.
Who is the team behind IPX？
Tachyon Protocol(IPX) is built on V Systems’ blockchain technology, which uses a proprietary PoS-based consensus algorithm called SPoS (Supernode Proof-of-Stake). Sunny King, the creator of the original PoS protocol, is the founder of both V Systems and Tachyon.
Team members:
- Sunny King – Inventor of Proof-of-Stake Consensus Mechanism & Founder of Peercoin, Primecoin, and V SYSTEMS
- Alex Yang – CEO of V.SYSTEMS, a FinTech entrepreneur and investor
- Peerchemist – a high community reputation and global developer network influence.
- Jacob Gadikian – A technologist obsessed with the potential of decentralized systems
- Vinko Karamatic – The technology expert with over 13 years worldwide experience in STEM, last three as a CEO
How was Tachyon Protocol(IPX) launched?
The Tachyon team has been on the quest to build a more secure network by revamping the bottom layer protocol. Since 2016, the Tachyon and V SYSTEMS teams have been collaborating and sharing R&D in order to find viable technical solutions for aging TCP/IP stack. The same vision is shared: to improve fundamental internet infrastructure technologies and find the solution for online privacy and security. Succeeding in this would mean significant improvement to the internet infrastructure as well as the decentralization of an ever greater number of internet services.
Tachyon Protocol Core Principles
Tachyon Protocol comprises of the following parts:
- Tachyon Booster UDP: adopting techniques from DHT, blockchain, UDP and the real-time Optimal Routing, it is capable of 200%~1000% transmission acceleration and over 90% connection success rate in a complex network environment based on experimental data.
- Tachyon Security Protocol: an asymmetric end-to-end encrypted content simulation security protocol that provides real-time protection against man-in-the-middle attacks (MITM), as well as other security issues, when both parties conduct end-to-end communication.
- Tachyon Anti-Content Analysis: enhancing network anti-monitoring capabilities through concurrent multi-routing scheme and multi-relay forwarding scheme.
- Tachyon SDK: combined with blockchain, it can be easily integrated and instantaneously deployed with all popular programming languages.
For more information, please check the WhitePaper.
Staking Review IPX
Tachyon is building a global bandwidth marketplace — In the Tachyon network, Node Providers are able to earn rewards by staking and selling bandwidth to global users via the IPX Staking System.
IPX Staking System is self-governed by all of its participants, and can ensure a stable supply of bandwidth for Tachyon VPN.
Features
- Unique Staking Model – Providing Node Incentives that is composed of Staking Rewards and Session Rewards.
- No technical skills needed – Everyone can join and earn rewards easily.
- V Systems’ cold minting technology – Participate in staking with the tokens remaining in the owner’s wallet.
- Compound interest – Your interest can generate interest.
- A daily basis rewards distribution.
Node Incentives
Conventional blockchain networks reward participants to contribute to network security through mining or staking. However, Tachyon is taking one step further to promote involvement through giving Node Incentives to participants who provide VPN service on Tachyon VPN.
Apart from regular staking rewards generated from the system, Node Incentives also include variable session rewards based on the contribution made to the core system. The more VPN traffic you provide, the more session rewards the Node Provider can get. This allows token holders to take a more active part in the operation of the network.
The Node Incentives can be broken down into two pieces: Session Reward and Staking Rewards. All rewards are designed to be distributed to Node Providers on a daily basis.
Session Rewards
the variable reward from selling bandwidth to global VPN users.
- Node Providers are paid Session Rewards directly by users.
- Session Rewards are likely to be the bulk of Node Operator income
- Session Rewards vary based on:
- Session pricing (determined by Node Operator)
- Demand for VPN Services
- Network coverage and capacity at your node’s data center
Session rewards are paid per 5-megabyte session. The price of each session is set by the node operator to be competitive in the marketplace. The more users connect to your nodes, the more session rewards you will earn.
- How to calculate your session rewards?
Since IPX Staking System hasn’t been integrated into Tachyon VPN yet, Session Rewards will be calculated by this formula and distributed by Tachyon temporarily during the global testing period.
* 1 Session = 5 MB block of traffic.
* P_A(x) = The average price of your sessions that day.
* x = The total sessions of your nodes that day.
* P_A(m) = The average price of all sessions in the system that day.
* m = The total sessions in the system that day.
* This session Rewards formula is only applicable during the test period.
Once IPX Staking System is added into Tachyon VPN, the calculation will be as follows:
Session Rewards = P_A(x) * x
* P_A(x) = The average price of your sessions.
* n = The total sessions from your nodes that day.
Staking Rewards
A 5% regular reward generated by the system.
Staking rewards provide all participants with reliable income and provide the Tachyon network with additional security.
- Staking rewards can be automatically re-staked, creating a compounding benefit.
- Staking while keeping your token still in your wallet without transferring via v.systems cold minting technology.
- How to calculate your staking rewards?
* Circulating supply = please refer to the corresponding data on CoinMarketCap. This data will be adjusted according to the actual circulating supply in the future.
* 5% = circulating supply inflation rate.
* 5% * Circulating supply = The total amount of IPX token that the reward system generates.
* S = Total effective Staking amount of IPX token from all participants that day.
* Y_n = Total amount of IPX token you stake that day.
Anyone can run a Tachyon Node
IPX Staking offers an easier way for everyone to run nodes and earn rewards.
Participants can select a trustworthy Platform Partner to help manage nodes and maximize the session rewards. Platform Partners will offer servers, run nodes and are responsible for all the risks of node operation.
How to join Tachyon Staking?
- Step1. Submit your wallet address to stake 20,000 – 200,000 IPX
An individual Tachyon node has a staking capacity of 20,000 – 200,000 IPX. To start a single node, the minimum staking is 20,000 IPX. If your staking amount is beyond 200,000 IPX, the excess part will not be counted.
You can get IPX from these exchanges: https://tachyon.eco/?n=yr8mtzfwee.ListedExchanges
- Step 2. Get your servers
You can create nodes and choose the servers from the Platform Partners like ipxus.com.
- Step 3. Start Staking
Tachyon VPN will attract global VPN users to use your nodes by listing them in our bandwidth marketplace.
Development Timeline of IPX Staking
IPX Staking 1.0 – May 2020
- Introduce Platform Partners. Offer an easier way for everyone to join.
- IPX Staking System Global Testing begins on ipxus.com.
IPX Staking 2.0 – July 2020
- Integrate IPX Staking System into Tachyon VPN. Node Providers can start to receive session rewards immediately from global VPN users.
- Node Providers can join staking, earn rewards and manage nodes via Node Manager 2.0.
- Cooperate with more Platform Partners. Offer more choices to Node Providers.
IPX Staking 3.0 – December 2020
- Node Providers can enjoy automatic operation, maintenance and legal assistance system with Node Manager 3.0.
- Open the source and offer tools to help Platform Partners run customized staking events easily.
Learn more about Tachyon IPX and current staking rates: https://www.stakingrewards.com/asset/tachyon-protocol