Decentralized Platform And Payment System

White Paper: Version 1.0
June 1, 2019


The SonicX Foundation and Development Team

I. INTRODUCTION

1.1 Abstract SonicX is a blockchain platform that provides trust, security and efficiency. It will be a payment gateway that facilitates P2P transactions, a tokenized system for content storage and online gaming. The token can also be used for making cross-border payments. The SonicX blockchain is a decentralized platform for the Internet using the SOX token. This will provide a service to address the challenges faced on the Internet. The result is a blockchain architecture that has scalability at minimum cost to the user. The ecosystem will also have its own digital governance that allows token holders to have voting rights for the benefit of the community.

1.2 Background The challenges faced on the Internet today include trust, security and efficiency. With a centralized platform, we cannot always guarantee these things. If your digital content was stored on a centralized server, the moment it gets hacked your data will be vulnerable to exploits. Your data can also be tampered with and the provider can even close your account if they suddenly go out of business. Transactions online are also prone to attacks, and this can lead to data theft.There is also plenty of friction when moving money across borders, quickly and efficiently. The Internet has evolved over the years as an underlying technology that provides a foundation to many services. This includes the transfer of value, which can be accomplished in a matter of seconds. With a global reach, the Internet is the ideal transport for money. It is decentralized, meaning it is not under the control of one entity or country. That ideology is also something that is now beginning to emerge as a disruptive force in the world of business. The rise of cryptocurrency and its underlying technology called the blockchain have brought anew way for securing transactions and protecting digital content. One of its most important features is decentralization, meaning it can fully function without a central authority or middleman. This allows direct P2P (Peer To Peer) transactions. The cryptocurrency is the token used in transferring value that is the payment for goods and services. The blockchain is the underlying infrastructure that records the transactions to a digital ledger. Once recorded, it becomes immutable and transparent so it can be easily audited. The blockchain provides trust in a trustless and permissionless system where no two parties need to know each other to transact. The decentralized nature of the payment system means that anyone from anywhere can make a payment using a token. This token can be created with programmed logic that executes a condition in order to release funds that is called a “smartcontract”. This makes sure that both parties honestly fulfill their obligation during the transaction,so it prevents cheating and discourages dishonesty. The data is also distributed across multiple computers called nodes. This securely stores the transaction on more than one computer so if one node fails the data stored will always have a copy on another node. The blockchain helps to verify things like proof of sale, ownership, payments and other types of transactions. Cryptography provides the security feature in blockchain transactions. By cryptographically securing the data, it makes it nearly impossible to modify, thus providing tamper proof solutions.Bad actors will not be allowed to change the data or even remove it, thus it is also censorshi presistant. Since the system is decentralized, that means that more than one computer has a copy of the recorded data. That adds another level of security and protection. The only way that a bad actor can really change the data is if they have access to all the nodes on the network.That is quite infeasible to do and new nodes can always be added to the network to counter this threat. Perhaps it is the efficiency feature in blockchain transactions that can disrupt the finance industry. Typically, with current banking system technology it can take days to clear cross-border payments. This is because of clearing houses and settlements with credit and financial institutions.There are third party to the transaction and they also take a cut of any payments. An example of this are remittances from foreign workers. When they send money back to their families in their home country, a percentage of fees is taken by the third party as payment for the service. With cryptocurrency tokens, the payments are instant and don’t require a third party, just an app and the Internet. They also have lesser fees so this can save plenty of money. SonicX is the platform built around an ecosystem on the blockchain. The benefits of having this system in place aims to deliver a digital asset that allows you to have control of your funds and participate in digital governance. This is a moment to showcase the technology and purpose for SonicX.

1.3 Vision SonicX was started as a fork of the Tron blockchain to address the issues of trust, security and efficiency. The project wants to bring the world a high-performance decentralized payment gateway that allows direct P2P transactions, tokenized system for gaming and digital content,frictionless cross border payments and remittance network and most important of all a secure digital ledger. The SonicX team takes the underlying technology from Tron but improves upon its transaction velocity and scalability. SonicX aims to deliver faster performance and better privacy for transactions. We need to implement this because with higher transaction volumes, there is a need for faster transaction processing. SonicX was designed for volume transaction processing in mind in order to scale to mass production levels. To make processing payments easier on the SonicX network, short link addresses are going to be introduced. This provides human readable addresses that will make using the network payment system user friendly. SonicX will make use of smart contracts on its platform. This will provide users a way to set conditions regarding a transaction that does not require a broker or third party. No middle man will be involved to take fees. Instead, the smart contract will contain the logic of when to release funds based on conditions that were digitally signed during an agreement. This will enforce the system of trust between trustless parties when it comes to payments, settlements or transfer of value and ownership. Privacy is also something the project values. The risk from doing online transactions today is great due to identity theft and lack of information security. Using a zero knowledge framework provides users peace of mind regarding their data security on the SonicX network. Nothing about their personal information will be revealed during trustless transactions. SonicX can also makes use of the more private Tor network to route Internet connections for user anonymity. Moving forward, SonicX wants to bring content storage to another level. A decentralized storage for documents, photos and other digital content. This will allow users to participate as storage providers for the network and in return will get incentives. The more storage capacity provided,and incentives awarded. The storage system will be ideal for content creators to showcase their work with their ownership of content verified on the blockchain. At the same time they can monetize the platform from their followers, fans and patrons. To accomplish our vision, the SonicX project has a road map that will begin beta in April 2019.By the middle of 2019, the main network will launch to begin providing these services using the SOX token. With SonicX comes a faster and more secure platform for users to store and share digital content, play games and make direct payments.

1.4 The Roadmap

May 20, 2019 - SonicX blockchain, blockchain explorer, basic Masternodes and implemented logic of airdrop to Tron community. Masternodes introduce new use cases - at first, to be an investment instrument to stabilize the network, later - the whole infrastructurallayer to bear instant payments, enhanced privacy, governance and budgeting features. Airdrop to Tron community (1 SOX per 20 TRX, according to created snapshot of Tronbalances and exact block height on which snapshot is to be taken - to be defined) most likely, airdrop will be carried out as automated distribution in the first block of SonicX, since genesis block implementation may potentially cause hardware related issues (lack of sufficient RAM on a customer machine) due to the size of a snapshot

June 12, 2019​ - Web Wallet - with a simple design, with general functionality to send/receive SOX, create or import an account.

October 14, 2019 - Private transactions on master nodes, Implementation of advanced privacy of P2P payments with ​Zero Knowledge Proof​ ZK-snark algorithm, as implemented in Zcash. It allows to make provable payments without revealing a recipient or amount of transaction. So the blockchain provides option to make absolutely anonymous payments along with standard public payments.

January 27, 2020 - Instant payments on Masternodes via analog of Lightning Network.

May 26, 2020 ​- ​Governance / Voting and Budgeting / Treasury​ system based onmasternodes level.

June 30, 2020 ​- ​Token Verification Infrastructure​ - blockchain based public infrastructure to inform the community about verified token issuers. Will be implemented via smartcontract(s) which will store and manage registry of verified token issuers. Verification issuers will be held off-chain, by some 3rd party provider.

August 3, 2020 ​- ​P2P optimization to increase transactions per second TPS​ - can make network produce blocks of bigger capacity at a faster rate. Also special serialization can be implemented for empty blocks ( reduce size from ~1KB to ~80 bytes) which also can increase blockrate. It will require network parameters configuration. It can bring 20-100%increment (2.5k up to 5k TPS).

August 24, 2020 ​- ​ECDSA checks offload to a GPU​. Digital Signature (ECDSA) checkscan be off loaded to a co-processor (such as Nvidia GPU). Currently, these checks along with BD interaction are bottlenecks of Ethereum-like protocols. Solving even one of them (proposed digital signatures offload) can theoretically increase rate from about 5,000 to15,000 TPS.

September 21, 2020 ​- ​Shortlink Addresses for Payments​. Very useful feature in P2Ppayments, make blockchain transactions human-readable, can strongly influence mass adoption. Currently, addresses are represented in a very complex form, like:SMGos4tWSdFA6Binj8iL3u7EFrnGpLTp28. It makes payments rather irksome. High chance to make a mistake. Shortlink addressing allows to use shorter and more user-friendly form

January 25, 2021 ​- ​Proof Of Time-Storage​. Will allow participants to share their storage capacity for specified price in SOX. Others can buy storage capacity among storage providers. To become a storage provider, one needs to install the blockchain software,allocate storage capacity and specify a minimum price rate. It uses Merkle paths and RSAtrapdoor permutation to prove that data is still stored and that it's stored on exactly same node.

April 26, 2021​ ​- ​Self-Upgradable Blockchain​. Provable self-upgradable blockchain by decision of Governance Layer. Tron protocol allows to update network parameters, andSonicX may be able to implement more deep modifications and nearly eliminate chances of blockchain splitting after some nodes choose not to upgrade.

May 24, 2021 ​- ​Enhanced Digital Signatures​. SonicX can implement Digital Signature algorithm which is more secure than current ECDSA. It will protect the network against possible attack or attempts by future quantum computers.

II. ARCHITECTURE

The SonicX blockchain is a fork based on TRON, that aims to deliver high performance and scalability. There is an ecosystem of components that make up the SonicX platform which can be divided into 3 main layers. Each layer performs a function to support the layer above it. This is implemented on the SonicX main network through software protocols that make use of API(Application Programming Interfaces) that communicate between layers. In the following section the architectural components of the SONICX platform will be discussed.

2.1 SonicX Layers

2.1.1 Application Layer​ - These are the applications that run on top of the SonicX platform.The code is written in DApp (Distributed Applications), digital wallet or to a smart contract using RPC (Remote Procedure Calls) that reference API that communicate with the other layers.Code execution is performed by the SonicX Virtual Machine (SVM) on nodes throughout the network.

  • 2.1.1.1. DApp (Distributed Applications) - Developers can create their own applications on top of the SonicX platform. Any DApp can interact with SonicX blockchain via lightweight JavaScript library or using gRPC API natively (many supported languages Java, Go, Python, C++, etc.). There will also be support for JiT and WebAssemly for developers.

    • 2.1.1.2. Wallet ​ - SonicX wallet addresses use Bitcoin's secp256k1 elliptic curve withECDSA algorithm for generating key pairs. The following are the steps involved in SonicX addresses: 1. First generate a key pair and extract the public key (a 64-byte byte array representing its x,y coordinates). 2. Hash the public key using SHA3-256 function and extract the last 20 bytes of the result. 3. Add `3f` to the beginning of the byte array. Length of the initial address should be 21 bytes. 4. Hash the address twice using SHA-256 function and take the first 4 bytes as verification code. 5. Add the verification code to the end of the initial address and get an address in base58 check format through base58 encoding. 6. An encoded mainnet address begins with S and is 34 bytes in length.Please note that the sha3 protocol we adopt is KECCAK-256.Mainnet addresses begin with 3f e.g. ​3fe11973395042ba3c0b52b4cdf4e15ea77818f275

  • The following interfaces are available in ​sonicx-wallet-cli​:

    • deploycontract(password, contractAddress, ABI, code, data, value)-Trigger contract(password, contract Address, selector, data, value)-getcontract(contractAddress)

  • Developers can call these interfaces to deploy, trigger or check smart contracts.

  • 2.1.1.3. Smart Contracts- Smart contracts on SonicX are executable code contracts that follow the Ethereum and Tron framework. At the moment, smart contracts written in Solidity are supported. These contain conditions which are a unit of computation on the SonicX network that affects the blockchain when executed. Through an Interoperation Layer, the code is executed across nodes by the SVM. The compiler translates the smart contract into byte code readable and executable on the SVM. A virtual machine processes data through opcode, which is equivalent to operating a logic of a stack-based finite state machine. The SVM accesses blockchain data and invokes an External Data Interface through the Interoperation layer.

2.1.2 Core Layer​ - The Core layer deals with the consensus protocol on the network and a unique Delegated Proof-of-Stake (dPoS) to meet the network’s demands. This is referred to as the SonicX Consensus Mechanism (SXCM). Choosing a dPoS consensus protocol helps on lowering energy consumption, increasing efficiency and transaction speeds. At this layer blocks are validated and added to the blockchain. At the CORE layer, node functionality is defined into 4 types of nodes

  • 2.1.2.1. Light Nodes​- Light-weight or Light Nodes Are mobile devices, and they will useblockchain mostly for payments. They connect to the network via Masternodes.

  • .1.2.3. Masternodes​- These provide special services for which they will be rewardedby the network. The following are the main functions they perform:

  • To be servers for light nodes providing them access to the blockchain and providing API access to the network.

  • To vote for network modification, equally to Supernodes.

  • To support and process micro payments and payment tunnels, protecting the mainnet from myriads of small transactions generated by payment services and supporting regular repetitive payments.

  • To provide and maintain abstract (custom) transactions, allowing to create privatenetworks inside the public one.

  • To become an additional layer of blockchain consensus - masternodes layer canserve as additional verification layer, running own PoS consensus (similar to FFGtechnology of Casper project) in parallel with dPoS of Supernodes layer.

  • During blockchain evolution, new features or some new types of transactionscould be added in this layer.

  • The Masternode activation requires a total of ​72,000 SOX​

  • 2.1.2.4. Supernodes​ - These will maintain the blockchain producing blocks. Supernodesare chosen from a digital governance election process and maintain the largest hold onSOX tokens. A Supernode requirement is ​ 7,000,000 SOX​. More explanation of Supernodes in ​Chapter IV Consensus

2.1.2.5 The Blockchain Explorer

The ​Blockchain Explorer nodes ​for SonicX uses an API which allows client software applications to connect to servers that provide blockchain information. Users can access the blockchain explorer from the URL: ​https://sonicxscan.com​. These servers are provided as part of the CORE layer. These are web servers that run a database that provides information from the blockchain. These nodes do not execute query code on the blockchain so they are offered without fees. Any user can access the block explorer website and run a query. This deals with looking up balances in digital wallets, transactions and other simple tasks that don't require a change in the blockchain state. The following details are provided:

  • Blocks - Height, Age and Block Producer (shown as address) information

  • Transactions - Transaction Hash, Block Height, Created, Address, Contract

  • Transfers - Transaction Hash, Block Height, Created, From, To, Value

  • Accounts - Address, Supply, Balance

  • Statistics - Top Addresses, Transfers past hour, Transactions past hour, Average BlockSize and other indicators will be added

  • Live transaction view

2.1.2.6 The SonicX Virtual Machine

Another CORE layer component is the ​ SonicX Virtual Machine or SVM ​. Nodes on the network run an instance of the SVM when executing code. Each unit of computation is charged a fee for processing it on the SonicX platform. The SVM is a lightweight, Turing complete virtual machine developed for the SonicX ecosystem.The goal is to provide millions of global developers with a custom-built blockchain system that is efficient, convenient, stable, secure and scalable. SVM connects seamlessly with the existing development ecosystem and supports dPoS. It is initially compatible with the EVM (Ethereum Virtual Machine) environment so that instead of learning a new programming language, developers can develop, debug, and compile smart contracts in a Remix environment using Solidity and other languages. Once you’ve built and uploaded your smart contract to the mainnet, it will be executed on the SVM of the SN (Supernode) node to be isolated from external connections. The SVM employs the concept of ​Bandwidth​. Different from the gas mechanism on Ethereum’s EVM, transaction operations or smart contracts on SVM are free, consuming no tokens. Technically, the total token holding does not restrict executable computation capacity on SVM. The following are the features of the SVM.

  • 1. SVM adopts a lightweight architecture with the aim of reducing resource consumption to guarantee system performance.

  • 2. Out of security reasons, transfers and smart contract cost only bandwidth points,which exempts SonicX from being attacked similar to Ethereum for its mode of gas consumption. The bandwidth model charges computation on the basis of bytes and not per instruction of code. Stability of bandwidth consumption is achieved while the cost of each computational step is fixed.

  • 3. Currently, SVM is compatible with EVM and will be with more mainstream VMs in the future. Thereby, all smart contracts on EVM are executable on SVM. By connecting seamlessly to existing development ecosystem, higher efficiency can be achieved by developers. Needless to learn a new programming language, they can use mainstream programming languages for smart contracts such as Solidity to develop, debug and compile smart contracts in the Remix environment, which greatly reduces development costs.

  • 3. Currently, SVM is compatible with EVM and will be with more mainstream VMs in the future. Thereby, all smart contracts on EVM are executable on SVM. By connecting seamlessly to existing development ecosystem, higher efficiency can be achieved by developers. Needless to learn a new programming language, they can use mainstream programming languages for smart contracts such as Solidity to develop, debug and compile smart contracts in the Remix environment, which greatly reduces development costs.

  • 4. Due to SVM’s bandwidth setup, development costs are reduced and developers can focus on the logic of their contract code. SVM also offers all-in-one interfaces for contract deployment, triggering and viewing, for the convenience of developers.

2.1.3 Network Layer​ - The supporting layer of the platform relies on TCP/IP (Internet). This is also where the nodes and storage devices hold a copy of the blockchain data and its state. Any changes from the APPLICATION and approved by CONSENSUS makes changes to the blockchain state and this is propagated throughout the network. The blockchain itself runs on the memory over the network. It has a persistent connection over the Internet via TCP/IP. All nodes can communicate and discover each other over the network and perform their particular roles as part of the consensus mechanism. When a node is down it does not affect the rest of the network. The SonicX platform was meant to be decentralized and fault tolerant. External Data Interfaces interact with the network through an Interoperation Layer which are API endpoints to the Core Layer of SonicX. Sources of data coming from the network must be accessed by the DApp through the core protocols. That way it remains consistent with what is stored on the blockchain. A distributed storage system is also part of the NETWORK layer. This SonicX system allowscontent to be stored on a decentralized platform that is verified by the blockchain. Allocation ofthe storage is handled by DApps that run on the platform. They access API to read and write data to the distributed storage system over the network. This is also persistent data whichresides across the network and not just in one storage location. Providing the entire physical and logical storage of data can come from different types of devices. This includes the infrastructure of the Internet (routers, network gateways, nameservers) and various types of servers (data centers, cloud providers, directly connected nodes).This forms the very foundations for the ecosystem. The data itself is stored across the network on various full nodes, which maintain a copy of the entire blockchain.

III. TOKEN

The SonicX platform token is called SOX. It follows a sound tokenomics principle of the medium of exchange for goods and services, transfer of value and proof of ownership. Possessing a SOXtoken on the platform proves you have a store of value that is verified on the blockchain. Smart contracts that lock digital assets prove ownership. The token can also be used to convert from one currency to another and transmit across borders instantly. This also provides support for atomic transfers from one cryptocurrency to another.

3.1 Token Allocation

There will be ​100,000,000,000​ SOX ​coins​ total supply. Coins refers to the asset, while tokens refers to the cryptocurrency used in transactions. There will be no mining involved on the SONICX platform but instead will be using a staking protocol that will let special nodes hold coins as part of their commitment to stake their own funds to help validate blocks on the network. Here is a breakdown of the token’s allocations: ========================================================= Airdrop:​​ 1 billion​ or ​ 1% Emergency funding​: 4 billion ​or​ 4% ​(reserved for unexpected things happening on the network) Advertisements:​​7 billion​ or ​ 5% Server maintenance & future collaboration of IoT service providers:​ 8 billion ​o​r 8% Game DApps funding:​​ 10 billion​ or ​10%​ (Dapps incentive to attract developers to build dappson SonicX decided by Community on Voting system of MasterNodes + SupperNodes) Angel investors​: ​ 20 billion​ or ​20%​ (lock for 1 year via smart contracts) Future Development​: ​45 billion​ or ​45%​ (this including development of payus, exchange,E-Gaming, E-commerce, cryptoLend, future development of land registry for real estates) =========================================================

SOX is considered as a tradeable and fungible asset token. As a coin it is a digital asset that is verified on the SonicX blockchain. SOX tokens cannot be counterfeited since they have all been SonicX White Paper v1.0generated from the platform only. There is no way a bad actor can create their own SOX tokens since the platform is the only verifiable source for this. The SonicX web wallet provides the bestway to keep track of the SOX balance. Eventually there will be support for hardware wallet and cold storage options.

3.2 Types of Token Holders

There are three categories of token holders on the network. They will be briefly discussed here and further explained later in the consensus chapter.

  • 3.2.1. Supernodes​​- Earn tokens from producing and validating blocks.

  • 3.3.2. Supernode Candidates ​- Earn tokens from votes to become a Supernode.

  • 3.2.3. Common Token Holders​​- Anyone who owns a SOX token either from airdrop,exchange or donation, etc.

3.3 SonicX Wallet

Creating the wallet requires generating a key pair (explained in the Architecture section). This can be done through the SonicXscan website (​https://sonicxscan.com​) which provides a wallet creation link. New users will have to create a password to encrypt their private key. To unlock the wallet, a private key and password will be required. The encrypted key must then be downloaded to a secure place, not on a public folder, but accessible only to the user. Users are encouraged to make a backup of this key since if it gets lost, users will not be able to open their wallet. The SonicX Foundation can help recover keys but only in extreme situations. The wallet does not “physically” store the token. Rather it keeps the private key of the user and provides a connection to the blockchain to allow users to manage their funds. What the wallet really does is show the balances and transactions that were made using the public address.Tokens or coins are never stored away from the blockchain. If the user loses their private key,accessing the digital asset can be lost.

3.4 Token Valuation

The SOX token is created by SonicX on their platform and distributed to valid account holders.Once the SOX token has been transferred to the owner, it is recorded on the blockchain andcan be verified by the SonicX Block Explorer. It will list the transaction and public address of theowner’s wallet to prove they have SOX tokens in their possession. The value will be determinedby the market.

3.5 SRC10 and SRC20 Token Standard

The SonicX blockchain uses a standard for token issuance called the SRC (SonicX Request for Comment) protocol. The protocol describes the functions that are available to developers when deploying it on the blockchain. This can be done using a smart contract for SRC20 tokens or via API calls and command line for SRC10 tokens. This provides developers with options in how they want to create their tokens.

SRC allows a better way to distribute tokens to the community. This provides funding projects, fundraisers and even crowdfunding on the SonicX platform. By locking funds in a programmable smart contract, the code will execute the logic based on conditions. The smart contract resides on the blockchain, which is decentralized, thus it cannot be manipulated or modified once it has been deployed. While this lessens dishonesty among trustless parties involved, the smart contract must be designed properly following strict audits and formal verification before deployment as a precautionary measure.

3.5.1 SRC20

The SRC20 token standard is a smart contract implementation that is used for token distribution on the SonicX blockchain. Based on the ERC and TRC token standards, this allows funding through the use of smart contracts deployed on the SonicX blockchain network through the SonicX Virtual Machine (SVM). Like the ERC20 standard it is based upon, it provides the technical specifications for issuing tokens, transferring value, exchanging value and executing smart contracts. To create the SRC20 token, developers must first create a smart contract. In the smart contract, the developer can define the token name, symbol and total supply among other things.

The mandatory rules in the SRC20 smart contract require the following values:

  • totalSupply

  • balanceOf

  • transfer

  • transferFrom

  • approve

  • allowance

In the smart contract the developer can define these options as well:

Token Name - Specifies the name of the token. (string public constant name)

Symbol - The symbol that identifies the token (string public constant symbol)

Decimals - Number of decimal places for the value (uint8 public constant decimals)

The SRC20 token provides a blueprint that will allow smart contracts to create their own tokens. These tokens can be used for any purpose, from medium of exchange in electronic payment systems to store of value on digital wallets. Having a standard like SRC20 makes it easier to deploy on the SonicX blockchain.

3.5.1 SRC10

The SRC10 standard is a native token distribution method that allows the token to be used just like regular SOX tokens. The SRC10 does not require creating a smart contract, so it costs less to implement. To issue tokens, the developer can use a command line interface to specify parameters to issue the digital asset. This is based on TRC10, so it will have a similar method. The SRC10 can also communicate with smart contracts using a contract call, in the case developers require this functionality.

Creating an SRC10 token can be accomplished using the following steps:

  • Go to https://sonicxscan.com

  • Create a wallet using the ‘Create Wallet’ option (follow the steps)

  • Fund your wallet by acquiring 1,024 SOX tokens

  • Go to the ‘Tokens’ option in https://sonicxscan.com to create your SRC10 token

Using SRC10 tokens will cost bandwidth and energy when used to transfer and deposit to smart contracts. Otherwise, SRC10 is like using SOX, but with more valuation as a token. For developers who want to create a fast and simple way for initial funding, the SRC10 is a quick route. For more complex logic, the SRC20 standard is the better option.

For more information on developing SRC10 and SRC20 tokens, refer to the website for the latest and most detailed instructions.

How to create tokens on the SonicX blockchain

3.6 Transactions

On the SonicX platform, instead of gas bandwidth​ (discussed earlier) ​is used. The morebandwidth you use, the more transactions you can send. The smallest unit used for bandwidthis called the DOLE. On the SonicX network, a typical transaction requires a total of 200bandwidth or 200 DOLE. To explain the concept of ​bandwidth, it is best to understand it as the amount of computation needed to execute and save a transaction. The price is fixed for simple financial transactions, but it can vary for DApps and smart contracts since there will be different use cases for them.Unlike other protocols, the bandwidth can be computed in advance if you know the size (inbytes) of your transaction. The tokens perform functions in a smart contract or DApp as a cost to the unit of computation.In the real world, in order to process transactions work needs to be done. For example, let’s saythat Alice wants to give Bob 10 SOX using a smart contract. In this case the platform is doingthe work to transfer the value from Alice to Bob. This requires a fee or cost to process thetransaction. Let’s assume the cost or bandwidth fee was 0.008 DOLE for x number of bytes. Total Cost = SOX Sent + Bandwidth Fee Therefore the total cost to Alice would be 10.008. Assuming Alice has a balance before the transaction of 200 SOX, the code will update the blockchain state to reflect the changes. New Balance = Old Balance - Total Cost This will then record the transaction on the SonicX blockchain. The balance on the blockchain is then updated and the smart contract ends its routine after the transaction. It can also be programmed to be recursive to release funds on certain dates based on a condition. That is a basic example of the smart contract implementation in theory. In SonicX there is a protocol used that makes use of a computational framework for transactions, so the costs are much different in reality.

3.6 Bandwidth and Energy

The concept of ​bandwidth​ and ​energy​ is what enables SonicX transactions. Using this concept differs from gas, which is the cost associated to perform a computation on the blockchain. This is provided by the SonicX main network as a way to execute several transactions without worrying about expending tokens. On the SonicX network, the transactions are stored and transmitted as bytes and the bandwidth is the number of bytes allowed per account per day.The number of bytes allowed depends on a variable ratio which is the bandwidth points in an account to the bandwidth capacity of the SonicX network. It is equivalent to the ratio of ​frozen balance​​in an account (SOXfB)​​ to ​frozen balance on the entire network (TSOXfB)​. The amount of bandwidth is measured in DOLE. Bandwidth (B) = SOXfB / TSOXfB DOLE The frozen balance refers to holding of SOX tokens. When you freeze your account, the tokenscannot move and as an incentive to users it accumulates bandwidth. Thus the amount ofbandwidth consumed is proportional to the size of the transaction in bytes. The more bandwidthyou have, the more transactions you have available. This is a measure of preventing spammingon the SonicX network as well. As an example, supposed the transaction has a total of 500 bytes, then it requires 500bandwidth. On the SonicX network, the minimum size of a transaction is 200 bandwidth. ​TheSonicX​ network also provides 5,000 free bandwidth to every account every 24 hours. At 200bandwidth per transaction, that is equivalent to 25 free transactions a day. You can also freeze the account to gain what is called energy. Energy is ideal for smart contract execution. The energy is calculated as ​SOX frozen in the account (SOXfE)​ divided by the total SOX frozen for energy (TSOXfE) ​ in network multiplied by the total amount of energy provided every 24 hours (currently 100,000,000,000). The unit of energy is measured in ENGLE. Energy (E) = SOXfE / TSOXfE x​​100,000,000,000 ENGLE Energy is measured in microseconds and is the time it takes to execute a smart contract.

1 ENGLE = 1 microsecond (μs)

For example, if a smart contract requires 400 microseconds to execute, then it requires 400ENGLE. ​Now let’s say that the total amount of SOX frozen for gaining energy is 2,000,000,000SOX in the entire network, and one account freezes 1,000 SOX, that equals 50,000microseconds. If executing a contract takes 5,000 microseconds, then the user can trigger the contract 10 times.

IV. CONSENSUS

The current PoW (Proof-of-Work) consensus mechanisms suffer from high energy consumption,low efficiency and low transaction speed or TPS. SonicX's innovative architectural philosophy guided us toward developing a unique mechanism using invaluable feedback and constructiveideas from the blockchain community. The aim is to satisfy network demands, thereby comingup with the SONICX consensus mechanism or SXCM uses the SonicX delegated proof-of-Stake (dPoS) or SPoS. SPoS is based on a delegated Proof-of-Stake (dPoS)consensus mechanism.

4.1 SonicX dPoS

Traditional Proof-of-Stake requires a token holder to lock a certain amount of funds in order to become a block validator. Proof-of-Stake is a different way to validate transactions. It is based on what is called a distributed consensus. It does not require solving puzzles to discover a nonce. This means that the token holders who have the most funds to stake become most likely to validate block and reap rewards. In SonicX dPoS, the system uses a delegation process which elects 27 Supernodes (SN) to produce blocks for the network. Only Supernodes can produce blocks on the network and no other node type. The fact that SN will be staking a certain amount of their funds means they have good intentions. If they violate the trust of the ecosystem they stand to lose the amount of funds they staked and they will no longer be able to participate on the network to validate blocks.

4.2 Incentives

Incentives are in the form of what are called ​Vote Rewards​ and ​Block Rewards​. The total incentive received is thus equivalent to the sum of the vote and block rewards. Total Incentives = Vote Rewards + Block Rewards A vote reward is given for every block produced at ​16 SOX​ The SonicX network generates ​1​ block every ​3​ seconds. 3 seconds is more the average since there are certain factors like network speed and latency that can affect block production. 20blocks are produced every minute. Thus the daily vote reward can be calculated using this formula: Vote Rewards = 16 SOX/block x 20 blocks/min x 60 min/hour x 6 hours/election x 4elections/day = 460,800 SOX/day The block producers or Supernodes are awarded ​36 SOX​for each validated block. 36 SOX istherefore the block reward. The daily block reward is calculated using the following formula: Block Rewards = 36 SOX/block x 20 blocks/min x 60 min/hour x 24 hours/day = 1,036,800SOX/Day The block validation process provides for each SN to have a chance at getting rewards. No SNis designated to produce blocks, they are provided a particular time slot each. If one SN can not fulfill validating a block (i.e. no consensus) then the next SN in line will take over. Masternodeswill get a reward as well based on the SN they voted for. A total of 336,384,000 SOX will be awarded annually to 27 Supernodes. Only Supernodes have the right to propose the corresponding account. The amount to stake funds determines the role of a node on the network. Supernodes will need to invest a minimum of $200K (worth of SOX) to qualify as a candidate. The master nodes only needs to stake $1,000 and this gives them voting rights to choose among the SN candidates. Each time an SN finishes block production, rewards are sent to the respective accounts. Therewards are split 90/10 for Supernode and Masternode. The split works like this, 32.4 will go toSupernode and the remaining 3.6 will go to Masternode.The blockchain state is updated andblock production cycle continues. The protocol allows an SN the withdrawal of the SOX reward to be made once every 24 hours.

4.3 Governance

Our app provides access to a decentralized exchange that offers a trustless way to transfer value, trade digital assets and keep up to date on cryptocurrency market cap. All this from the convenience of your mobile device.

Payment Wallet Services

Every 6 hours, SOX account holders who stake funds in their accounts to make them eligible tovote for a selection of SN candidates. Only the top 27 candidates deemed the Supernodes orSN are chosen. Voters may choose their candidate based on any criteria. Supernodecandidates start at 127 individuals elected through voting by the entire token holder community.The voting is updated once every 6 hours on the SonicX network. Supernodes are the top 27 among the 127 candidates. The SonicX Protocol network will generate one block every 3 seconds, with each block awarding 32 SOX to Supernodes.Supernodes play a key role in governing the SonicX ecosystem by ensuring basic functions,e.g. block generation and bookkeeping, and obtain corresponding earnings. The 127 candidates are updated once every 6 hours will share a total of 115,200 SOX in rewards. In a single day the 127 candidates get 460,800 SOX per day. The reward will be split in accordance to the votes each candidate receives. Total reward for candidates will be168,192,000 SOX each year.

Voting is a right that every SOX token holder has, regardless of node type or account. In order to vote on the SonicX network, ​SonicX​​Power (SP)​ is needed. The SP depends on the frozen assets a user has. A user must freeze a certain amount of token which lasts for 3 days, at which point these tokens are not expendable on the network. 1 SP is equivalent to 1 frozen SOXtoken. This voting right is for electing the SN on the network. Once the SOX are unfrozen, the token holder loses their SP and cannot vote unless they have assets to freeze. In terms of the weight of a token holder’s vote, the more frozen assets they have for SP, the more votes they give to a candidate. Proposals are a way of approving what the community wants. The SonicX protocol supportsproposals when there is a need to arrive at consensus, whether it is block validation or selecting an SN. The system proposal only supports in favor of the vote, and does not vote for disapproval. The proposed validity period is 3 days from the time the proposal is created.Beyond this time frame, if the proposal does not receive sufficient votes in favor, the proposalwill lapse. This allows cancellation of the vote before the vote can be confirmed.

4.4 Coin Burn

The coin burn in SonicX is a mechanism to reduce the total supply of tokens. This is a way to prevent inflation in the ecosystem as a reasonable means to prevent over supply of the tokens.There are basically three reasons for a coin burn.

  • 4.4.1 Minimizing Inflation

  • The traditional non crypto-economic model allows centralized monetary authorities to regulate and control the supply of money. They can increase the money supply during times of low liquidity in order to boost the market. However,more money leads to inflation and that can affect the cost of goods and services as prices increase. More supply leads to more spending power, and thus that increases demand for public consumption. As a result, prices go up. We have what is called the inflation rate that determines the price or value of any commodity or asset in the market. The problem with inflation is that it leads to ever increasing prices as simplified in this formula: V = Inflated Value Of Asset a = Current Value of Asset r = Annual Rate of Inflation t = Time period

    V = a(1 + r)

    Thus an asset’s value increases over time as a result of a positive (+) inflation rate, which means its value was not determined by market forces but by a central authority. Interest rates tend to rise with inflation. It is a way the central bank encourages people to increase savings. Now this is a truly centralized approachthat becomes a balancing act for the economy. SonicX will not have an inflationary model which is the primary purpose of the coin burn. With this model it gives more value for the holder and prices never drastically increase due to a central authority. Instead it follows a decentralized and market driven approach to keep the supply in check.

  • 4.4.2 Fair Token Distribution

  • The fairness in token distribution is that the platform does not keep more supply than what should be sustainable for the ecosystem. The community is given the right to vote for a coin burn when it is announced by the SonicX network. This allows token holders to help decide whether it is the community’s best interest.This uses the SonicX ​Power (SP) ​to allow token holders to vote. Majority consensus will always win in the ecosystem. The system can be effective in maintaining the price and rewarding loyal token holders. Thus the distribution of tokens is not manipulated by a single authority that decides over the rest of the token holders. When the decision goes to a vote,it benefits the greater community.

  • 4.4.3 Incentive To Holders

  • The coin burn incentivizes token holders by increasing its value. Let’s say we have the following scenario of an asset Total Supply = 100,000,000,000 Circulating Supply = 100,000,000 Market Cap = 1,000,000 Price of ​Y​ = 0.01 Assuming a user has 10,000 coins, they are valued at 10,000(0.010) = 100. A coin burn takes place to reduce the circulating supply by 40,000,000. Total Supply = 100,000,000,000 Circulating Supply = 60,000,000 Market Cap = 1,000,000 Price of ​Y​ = 0.0167 It cuts the circulating supply by 40%. This then changes the price of ​Y. ​Assuming a user has 10,000 coins, they are now valued at 10,000(0.0167) = 166.67. This creates what is called digital scarcity so that token holders can increase their value holdings.

4.5 Community Distributed Application Platform

SonicX is also a platform for DApp developers to publish applications. Developers can write code to execute on the SonicX blockchain’s main network. A test network will also be available for developers for testing DApps before deployment to the main network. Using the bandwidth and energy model, developers can deploy apps that don’t incur high fees to process and store data. This aims to create a marketplace for both developers and users to have access to the ecosystem's features. For developers, setting up an account requires signing up on the main SonicX website(​https://sonicx.org​) which also creates a digital wallet with a private key. Once created,developers now have a way to deploy their DApp to the SonicX test or main network usingMetamask. From here, the DApp can be deployed. SonicX fully supports Solidity code for smart contracts and Javascript for front-end development. The platform also aims to be a distribution center for ranked DApps built on Ethereum, EOS, Steem, Tron, TomoChain, IOST and block stack. SonicX also supports projects which developers can create on top of the blockchain. Projects can be anything that can run on top of SonicX and makes use of SOX tokens. Masternodes and supernodes will vote on which projects to approve using SXCM. When the votes total 51% of the network, the project is approved and will be allowed on the platform and posted on the website. The project will then receive funding from the community which can be taken from the votes given to the project upon approval of unfrozen SOX or from a foundation created fund that comes from other sources. Note: More information about this process will be provided on the SonicX website at: https://sonicx.org ​. The latest details will be posted there for developers interested in launching their projects on the platform.

The Team

Kevin Engle Dole

Founder & CEO

Jessica Murphy

Compliance Advisor

Sasha Hodder

MBA, Esq., Attorney

Stanislav Shikhalev

Full stack developer

Maxim Prishchepo,

Lead Developer

Mohit Bhatia

Android/iOS Application Developer

APPENDIX Definition of Terms

API - Application Programming Interface - Software that allows developers to create an entrypoint to a system. Bandwidth - Refers to the amount of bytes of code a user expends on the network. Common Node - Full nodes on that maintain a copy of the blockchain. DApp - Distributed Applications - Software created by developers that run on the platform. DOLE - The unit of measure for Bandwidth. dPOS - Delegated Proof-of-Stake is a consensus protocol mechanism used in a blockchainwhich supports staking of funds for block producers voted under a digital governance system. ECDSA - Elliptical Curve Digital Signature Algorithm - A type of cryptographic encryptionmethod used in public key pairs. Energy - The time it takes to execute a smart contract. ENGLE - The unit of measure of Energy. gRPC - Remote Procedure Call framework developed by Google. IDE - Integrated Development Environment - The tool developers use to build applications. Light Node - Mobile devices used mostly for payments that connect to masternodes. Masternode - These are nodes that perform certain functions that manage and maintain the network. RPC - Remote Procedure Call - Invoked code that executes on a different computer on thenetwork. Secp256k1 - A type of encryption algorithm used in Elliptic Curve cryptography. SHA3-256 - A SHA3 hashing algorithm that produces a 256 bit output. SN - Abbreviation for Supernode. SonicX - The name of the blockchain platform. SOX - The token used on the SonicX blockchain. SP - SonicX Power is what allows token holders to vote when they freeze a certain amount oftokens. Supernode - Nodes that produce blocks on the network, voted by token holders. SVM - SonicX Virtual Machine - This is software that executes the code on the network. SXCM - SonicX Consensus Mechanism - The consensus protocol used on the SonicXblockchain based on dPOS. TCP/IP - Transmission Control Protocol/ Internet Protocol - The communications protocolsoftware used on the Internet.

All rights reserved © SonicX 2019

Privacy Policy
Terms & conditions