The goal of this page is to answer any questions you have about words, concepts and strategies within SRX.
A system that records transactions on a shared general ledger for Bitcoin or other alternative coins by computers within a peer to peer network linked to that coin.
Coin vs Token
Coin is a standard digital currency that can be used to receive and make payments with. A token is a derivative of that coin which is used to raise money for projects, collect rewards, ownership of tangible items.
SRX starts off as a utility token to help fund its project and then will bridge into a coin which will have its own blockchain and currency. Future state, SRX will have its own blockchain coin and hundreds of tokens/projects around the world that are derivatives of the SRX coin. Transaction fees from those projects will go towards Feeding the hungry, Imitating authentic love, Saving the lost and Healing the sick.
Centralization Vs Decentralization
Centralization is when one party or organization is in charge of all of the decisions, verification and holding of data. In the finance realm, this consist of how fiat currency (USD, British Pound, Euro, Indian Rupee, etc) supply is controlled by the banks and government.
Decentralization is when all of the above is not controlled by a central party. Investing in crypto currency allows holders to have a say in the direction, management and verification of all data within that currency.
A centralization ledger is between you and a centralized party, such as a bank.
A decentralized ledger is a ledger that is shared by the entire community of holders and is a public ledger for anyone to see. In order to create a transaction on the ledger, it most go through a decentralized process of accuracy from different parties to be able to be listed.
SRX utilizes the tested and approved consensus method of proof of stake authority. (POSA), from the BNB Smart Chain.
Proof of Stake Authority
Proof of Stake Authority as mentioned in the ledger section is a consensus method that allows for a transaction to be reported on the public ledger. If the transaction fails to meet these requirements, it will not be listed and the transaction will be cancelled.
SRX token is currently under the BNB Smart Chain. BNB Smart Chain utilizes 21 validators that each have a minimum stake balance which gives them the opportunity to create a new block (transaction) on the ledger. Bitcoin and Ethereum utilize a different consensus which allows for more decentralization, but comes at a much higher cost and higher transaction time it takes to complete.
When SRX becomes its own blockchain, the community of holders will vote on the direction of the correct consensus method. The goal would be to make it as decentralized as possible, without giving up security, cost and speed.
Risks: What We Tell Our Family and Friends Before Investing
In addition to the above discussions. I tell them this a great opportunity to invest in a revolutionary currency that will change the world and give them an opportunity to leave their legacy. However, this is still a cryptocurrency with extreme levels of volatility and to make sure the resources they use to invest are something they can handle losing if something out of our control happens in this space.
There are several things we cannot control completely - supply and demand, global government regulations, hackers, forks. SRX can have a positive impact on these by there marketing and security campaigns, they cannot control these with absolute certainty.
I suggest that they only invest what they are willing to lose. I use the example of giving towards a non profit with no expectation of receiving payment back and want them to invest in the mission of what this will accomplish vs the potential gains they could receive. SRX and cryptocurrency is just the means we use to change the world. Receiving significant capital gains might happen along the way for its investors, however that is not the primary goal of this project.