What a blockchain does is to allow the data held in that block to be spread out among several network nodes at various locations. Blockchain system helps to establish an exact and transparent order of events. This way, no single node within the network can alter information held within it.
Blockchain technology achieves decentralized security and trust in several ways.
Omax Blockchain has made an impact on today’s technology by revolutionizing the financial industry through utilization of cryptocurrencies using decentralized control.
Blockchain brought decentralization to the masses through the concept of Distributed Ledger Technology on which “most” of the cryptocurrency is based on. Having said that not all blockchain based technology is completely decentralized, and the level of decentralization totally depends on its implementation.
Safety, security, and trust worthiness are our top priorities. The many benefits that blockchain and smart contracts bring make it harder to go back to solutions that often failed. We thrive on the cutting-edge of secured technology solutions.
With the highest rate of transactions per second (tps) of any blockchain, topping off currently at 125k tps in the testnet phase of the blockchain development. Omax Coin has more than doubled what was the highest tps, making it look miniscule at just 50k tps. To put that into perspective, here is the processing speed of two non blockchain systems, Paypal currently runs at a rate of 193 transactions per second, whilst Visa is capable of processing up to 1900 transactions per second.