Why we need the Safex Blockchain and its protocol (short)

The Safex Blockchain uses privacy features because when you buy something from the seller, he should not know what is your total balance. If you did that with bitcoin, the seller will see the payment, and also all of the history of your payments, and also where you live.

For that reason, we need new technology in the cryptocurrency space. That is why I built an entirely new blockchain specific for ecommerce, a real world use case and application instead of for example ethereum where if I embedded my ecommerce platform in there we would be paying $200 in gas fees to buy a $20 book.

In addition to the lack of privacy over there, when you bought your book on the ethereum equivalent of the safex marketplace protocol you would end up exposing all of your trading history, where you live, and every nft you ever bought.

These are serious implications and that is exactly why I’ve been focused on constructing in a fully decentralized manner this platform that we now have the opportunity to commercialize.

Safex is not “a new token” it is a proof of work cryptocurrency, that has privacy enabled, and is used for real world use case: ecommerce, all of that is done, now we build interfaces and mobile apps so people can interact with the ecommerce protocol. Now we can get millions of people selling things from all over the world since the cost is so low for them to enter.

Excited to tell you more!

Sincerely,
Daniel

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Excited to hear more @dandabek :+1:

Tell your story :bangbang:

Nothing captures people’s attention more than a story told from the heart :facepunch:

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How do we know the safex chain won’t have scaling issues in the future?

The fees are so high on eth because there are many transactions

Safex has dynamic block sizing, so as transaction volume increases, the block size can increase to accomodate it.

Transaction fees are also dynamic and adjust automatically, based on the following formula:

fee = (R/R0) * (M0/M) * F0

Where…

  • R: current base block reward
  • R0: reference base reward
  • M: current median block size limit
  • M0: minimum block size limit
  • F0: 0.01 Cash (Nominal fee is presently 0.01 SFX)
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