Energy efficient interactive blockchain network launched

1st October 2021 | News

London, September 30th, 2021. After three years of development, the Convex Foundation launched the alpha network for the World’s fastest, high volume, distributed ledger technology (DLT). The Convergent Proof of Stake (CPoS) consensus algorithm eliminates the energy and cost of Proof of Work (PoW) systems, such as Bitcoin. Transactions cost much less than a cent, rather than dollars, and confirmed in less than a second. Consumer apps deliver more than 100,000 transactions per second.

Decentralised finance (DeFi), Italian online gambling, digital currencies, auctions, web monetisation, NFT and digital identity apps can now achieve global-scale performance and flexibility at very low cost. App developers are welcoming open access to the alpha network for unprecedented speed and security. The Convex Virtual Machine (CVM) and scripting language execute extensible smart contracts in milliseconds, protected by Byzantine Fault Tolerance with best in class cryptography. The network is permissionless, meaning anyone can run a node, opening the market for an inclusive Internet of Value.

“Convex's memory/storage allowance/cost system and the incentives it provides to free up storage has the greatest potential for keeping nodes accessible and decentralized” - Professional dApp designer

“I've started testing Convex Lisp in the Sandbox and I must say this is quite exciting. A lot of promise, without all the fragmentation and politics associated with ETH” - Convex core developer before joining the team.

For more information, read the White Paper, join the Discord group, create tradeable tokens and NFTs in the interactive Sandbox, use the online wallet.

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