millix

millix energy efficiency

proof-of-work blockchains consume energy in intentionally inefficient ways to establish complete consensus of the state of the network and to apply large amounts of computing power to secure transactions.

the entire collection of computing power on the network is applied to solve the same problem at the same time. the intention of the work is to create a block that a limited number of transactions can be associated with. the work of whichever computing device (node) solves the problem first to the satisfaction of the other participants is used, the work of all the other participants is technically wasted. if there are 1,000 nodes securing the blockchain and the work of only one node is used, the energy inefficiency is 99.9% by design. as the value of the network increases, so too does the amount of computing power that is wasted.

this model is effective and desirable when the objective is to permanently store value and ensure that all data is stored by the network participants. in theory, the more energy is consumed, the more these objectives are achieved. beyond the energy inefficiency, proof-of-work blockchains have an elastic relationship between scale and decentralization. achieving more scale comes at the expense of computing power centralization.

in comparison the millix network is designed to be extremely energy efficient. as there are already multiple cryptocurrency projects that excel at the store-of-value use case, the primary objectives of millix are decentralized transaction speed and scale.

whereas proof-of-work blockchains validate blocks of transactions as a whole, millix transactions are validated individually based on the validity of the transactions that fund them. the work of validating transactions is done locally on each individual node which requires only residual energy. recipients of transactions (nodes controlling the address that payments are sent to) perform consensus rounds on the transactions to increase certainty to the validity of the funds they receive. As a result, nodes on the millix network only work to validate transactions that interest them, that they are paid to validate or that they are obligated to store based on protocol shard assignment.

in short, there is no single, central problem that all the millix nodes are working on. each node only works on a small fraction of the transactions on the network. in fact, a particular node may not even be aware of an individual transaction while other nodes perform work to validate it.

when a node needs to refer to a historical transaction to validate a new transaction, and the node doesn't have the transaction, it requests it from it's peer nodes and assembles all the data required to validate the new transaction to its level of satisfaction. It's directed energy is purposeful in nature and small in scope.

The computing power of millix nodes do not need to increase over time to continue to contribute to the network. there is no arms race of hashing power to earn transaction fees. millix has been demonstrated to run on low power devices such as the raspberry pi and in the background processes of an internet browser. The only incentive for node operators to run more powerful devices is to store more transaction data that make it more efficient to validate transactions without requesting the data from the network.

whitepaper

overview

millix is an open source cryptocurrency project. millix is fully decentralized, designed for simplicity, transacts at very high speed and very large scale.

work began on the project in spring of 2018 by a diverse group of developers and business professionals. their motivation to create a cryptocurrency protocol with the use case potential of millix came from their backgrounds building:

  • social network platforms

  • content management systems

  • e-commerce systems

  • data distribution systems

  • online financial services

  • communication services

  • affiliate marketing

  • manufacturing and logistics operations

  • gaming platforms

  • accounting and legal practices

fundamentally, there was a recognition that

“all activity benefits from trusted
transactions at scale”

which influenced the following set of first principles:

  • currencies should not be created with debt

  • currencies should operate at infinite scale

  • the cost of securing value can't exceed the value it secures

  • a currency's market value should be proportionate to its fundamental value

  • participants that increase fundamental value should be compensated

  • currencies should function without carrying the weight of previous transactions

  • currencies should work the same throughout the spectrum of transaction values

  • modern currencies should be at least as simple to use as primitive currencies

  • simplicity at the edge is only possible with equal simplicity in the foundation

to the extent there is an inverted correlation between utility and a store of value, millix is not intended to compete with the use case or feature set of blockchain projects. the utility that comes from scale and speed has been prioritized, leading to the principles and methodologies described above.

learn more: meet the millix team

case study: the speed and scale of millix

Developers: millix certification for technical and non-technical careers

economy

the total allocation of 9,000,000,000,000,000 mlx (nine quadrillion millix) were created in a genesis event on January 20th , 2020. millix is not being offered directly for sale. instead it will be distributed to participants who support and improve the millix ecosystem.

participants running millix software constantly receive millix for performing protocol related tasks that improve the millix ecosystem, such as storing transaction data and verifying transactions.

the economy is envisioned to allow any participant to incentivize any computing activity by any other participant via fees.

learn more: how can I earn, buy or sell millix?

use case: millix turns unused computer power into income

technology

unlike blockchain cryptocurrencies, millix is built on the logic of Directed Acyclic Graph (DAG) for transaction speed and capacity that increases as more transactions and users are added.

millix is original work and was not built on a copied code base of existing work. millix has no points of centralization. millix has no designed bottlenecks. millix has no hierarchy of participants of capabilities. millix data is natively sharded.

learn more: how does millix data sharding work

learn more: the millix toolbox of trust

learn more: how do transactions work

learn more: how do transactions get verified

learn more: how does the millix network work

developers: full API documentation and tutorials

roadmap

the initial millix road map consisted of the following themes:

  • base organization and functionality

  • connecting millix protocol to machines for large scale transactions

  • large scale transaction speed and storage

  • a community of earning

  • store and own your personal data

developers: contribute to the millix project

learn more: see the current millix road map with dates

get started

millix is available to download for windows, mac, and linux at millix.org/client.