RubiX is a public blockchain where anyone can set up a full node & become validator. There are a total of 50.7 million native tokens that can be earned by validators. However, RubiX technology suits permissioned & private tokenchains as well.
All transactions on RubiX are peer-to-peer. Transactions in RubiX are validated using a Multi Party Computation(MPC) using non-linear secret sharing. There are no super nodes & clusters that vote in RubiX. There are no PoW miners that can gain control of the network hashrate. Storage of proofs & data is decentralized. The network stack of the framework is also distributed.
RubiX achieve significant scalability on-chain using asynchronous parallelism. Each tokenchain scales indepdent of the other (each tokenchain compares to a traditional blockchain with each block carrying only one transaction). With RubiX, there is no need to build centralized layer 2 solutions.
The RubiX token does not carry any value by its own. It is a utility token that is required to bind a transaction to the respective tokenchain. The public RubiX chain has 50.7 million tokens, each binding one tokenchain.
Every token in the network has its own tokenchain, thus a node only needs to maintain the tokenchains for all its transactions. A full node does not maintain data & proofs of unrelated transactions. At any point of time, all the tokenchains together constitute and preserve the global state of the network.
There are several off-chain and sidechain projects on top of Ethereum and Bitcoin to improve scalability and cost parameters. However, security and trust risks are inherent in representing significant amount of transactions and data off-chain. RubiX achieves significant scalability on-chain without needing to trust third parties to keep intermediate states or channels.
No. Privacy is built in by design. Transacting parties and quorum members keep only a non-linear secret share of the actual payload, thereby securing the privacy of data exchanged while maintaining its integrity.
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