New site with Proxima documentation https://lunfardo314.github.io.

It contains Overview of Proxima concepts, Transaction model and other technical documents.

Proxima's whitepaper is now available on arxiv.org: https://arxiv.org/html/2411.16456v1

Proxima just reached new milestone: open testnet.
To try it out by sending tokens, generating inflation, running node and sequencer join us in Discord: discord.gg/BHMv33ekzZ

no mining like in Bitcoin and PoW in Proxima.
However, there are several ways of contributing to the security of the ledger and receiving reward for that. In completely permissionless manner.
Sequencing is one of them, it is somehow similar to mining. Delegating is another.

In Proxima consensus is run by cooperating token holders, there are no third parties like miners of validators.

Proxima aims to be fully decentralized and permissionless L1 for settlement of crypto assets: fungible (money) and parallelized non-fungible assets (UTXO chains, L2 states etc).
It is money in the same sense as Bitcoin.

Censorship-resistance comes from the liquidity of the token and fully permissionless and decentralized set of token holders (who are also the "validators" of ledger).
If you send your transaction to the network, the only way to stop is >50% of on-chain capital colludes. It is unfeasible. There are no mempools btw.

Description of main Proxima architecture elements is available. Less technical than whitepaper

 --> Flollow the link to HackMD book   

Not PoS, not Kaspa, not clone. But thanks for GL

it is not defined yet. All options will be considered, thanks for suggestions.
Pre-mine is necessary for secure bootstrap of the network, due to its architecture.
In the beginning 100% the supply will be controlled by one sequencer.  It will be a fully functional network, potentially with many nodes, yet centralized. Worthless.
Then tokens from initial supply on the bootstrap sequencer will be gradually distributed to other committed parties who will run their sequencers
(or delegate to sequencers) and will start earning inflation and other income.
This will create liquidity of the token and the network will gradually become decentralized. Positive feedback loop between token liquidity and decentralization.
Not sure it can be called ICO, probably not.
The philosophy behind Proxima is cooperation among major token holders and social consensus.

Every token holder in Proxima is a “miner” of sorts. Yet it is not a mining as known in PoW.
They receive inflation proportional to their token holdings for their contribution to the consensus and cooperation with others. It is achieved by running so called sequencer chains on the ledger.  Details in WP.
Initially, supply will be premined and distributed to bootstrap token holders via ICO. Then supply will inflate along the activity on the network with halving rules.

Proxima

Proxima presents a novel architecture for L1 distributed ledger commonly known as blockchain.
The ledger of Proxima is organized in the form of directed acyclic graph (DAG) with programmable UTXO transactions as vertices,
rather than as a chain of blocks. It uses a novel cooperative consensus on a DAG which is completely permissionless.

Proxima is looking for collaborators and contributors.

Cooperative consensus

The approach offers new unique features for the blockchain space (see highlights below). Proxima is neither PoW, nor a PoS system.
Its cooperative consensus combines best of both worlds in highly parallelized architecture:

• it is as decentralized and permissionless as Bitcoin/PoW
• it is as performant, cost and energy efficient as PoS systems, yet it does not need BFT committee and staking

Resources
 
Further information can be found through GitHub repository: https://github.com/lunfardo314/proxima, which includes:

• Technical whitepaper with the concept details https://github.com/lunfardo314/proxima/blob/master/docs/Proxima_WP.pdf)
• Advanced node prototype
• README with introduction and other links
• Contact information

The prototype node is built completely from scratch (not a fork). Its code (Golang) is light and highly parallelized.

Highlights of the architecture

• Programmable UTXO tangle ledger, a transaction DAG instead of blockchain.
• Novel cooperative consensus among token holders. Token holders are the sole participants in the network: no miners, no validators, no committees.
• Consensus is fully permissionless and open-participation like Bitcoin/PoW. Ownership of tokens is the only prerequisite to participate in the consensus. No introduction or registration procedures of any kind.
• Fairness. Every cooperating and contributing participant (token holder) receives inflation reward proportionally to it's holdings and time.
• Sybil-protected by token holdings, PoS style, yet no staking, etc.
• Leaderless determinism. There's no need for a consensus leader or block proposers. No MEV.
• Nash equilibrium through the optimal strategy of biggest ledger coverage rule, an analog of the Bitcoin's longest chain rule.
• The optimal strategy is cooperative among participants rather than competitive.
• High throughput as a result of massive parallelism and the absence of global bottlenecks.
• Low energy requirements, unlike PoW, similar to PoS.
• Low cost per transaction, like PoS.
• Asynchrony. The architecture relies only on weak assumptions of synchronicity.
• Probabilistic finality. Depends on subjective assumptions, similar to 6-block rule in Bitcoin.
• Parallelism at the consensus level. Assets converge to their finality states in parallel.
• Parallelism at the node level. Independent transactions are validated independently. That enables efficient use of multi-core processors.