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After having integrated the IOTA Tangle in the ARXUM Production Protocol, the second Proof-of-Concept (PoC) has been achieved already. EOS is now successfully implemented in the ARXUM Production Protocol and solidifies ARXUM’s path to become a truly blockchain agnostic solution.
EOS is a new blockchain technology with smart contracts programmable in C++. It is a delegated proof-of-stake consensus mechanism, has a higher speed than Ethereum in terms of transactions per second, and is considered one of the most promising blockchain projects to date.
A production order is created on Ethereum and paid with AX tokens. An-IoT device accepts the contract and then the physical production events are transacted into the EOS blockchain. While the transaction fee is paid through Ethereum, any other blockchain technology can be plugged into the mechanism to handle all production-related transactions.
ARXUM A Flexible Solution
As ARXUM provides a digital supply chain infrastructure for industrial manufacturing companies, ARXUM needs to be able to select the best technology for any supply chain application. Therefore, the ARXUM Production Protocol aims to run on any available blockchain protocol that can use smart contracts.
There are different scenarios that prove how important it is for ARXUM to be blockchain flexible. For example, some production processes create a high number of payment transactions over time, which means state channels could be beneficial. Other production scenarios may have low transaction volumes but require elaborated smart contract templates.
Some may have a high number of participants interacting with a single manufacturing order over a long period of time. There are also several other scenarios that could demonstrate ARXUM’s need to be flexible regarding blockchain protocols and ARXUM is currently working on implementing Bigchain DB in its Protocol.
The ARXUM Token Sale
Through the token sale period, the public can join and support this paradigm shift in manufacturing. The ARXUM token, AX, are used across the ARXUM Production Network and allow investors to benefit from the use of IoT and blockchain within manufacturing.
ARXUM has submitted a proposal to the financial authorities of Switzerland, FINMA, and is waiting for the final approval to conduct a token sale. There is a total of 125,000,000 AX token. 80% of the tokens are for sale, 16% are for the team and 4% is for the Bounty Campaign.
The funds will be used for Industry-specific adaptations to ARXUM’s Production Protocol and for the market penetration and worldwide roll-out.