NextGen - The Eco Fintech Project Building a Revolutionary Green Blockchain
NextGen
8 min read
MELBOURNE, Australia, Aug. 11, 2021 (GLOBE NEWSWIRE) -- NextGen - an evergreen project, has announced the release of its net zero emission based payment system for a truly sustainable solution to the impact of climate change.
The impact of climate change on our environment, health, and even lives are becoming quite severe as the days go by. Climate chaos like storms, floods, hurricanes, melting glaciers, forest fires, just to name a few, are on the rise -- creating an underlying threat to countries, species and people's livelihoods. And now, people all are threatened by these events as people strive to avert some of the worst effects of climate change in order to preserve their planet.
A recent study revealed that, to avoid the worst climate impacts, global greenhouse gas (GHG) emissions will need to drop by half by 2030 and reach net-zero around mid-century. However, reducing global energy-related CO2 emissions to net zero by 2050 might be impossible to achieve.
Recognizing this urgency, NextGen has emerged to facilitate a net zero emissions based payment system and make substantial financial investments to sustainability oriented technologies that will make a meaningful contribution to end the threat of climate change and clean up the planet.
The need for Green Energy Investment
"Through tree planting and supporting green projects, we aim for carbon neutrality both for the token and the blockchain, working towards making the world a better place. Our goal is to empower investors and help shape a bright future both for holders and the planet."
The dependence on fossil fuel based energy sources is on the uptick and its adverse effects are becoming quite evident. The development and adoption of renewable energy have become extremely important to decrease the reliance on fossil fuels, thereby preventing the chaos caused by climate change in our world. And this is one of the key offerings of the groundbreaking project -- NextGen.
NextGen is a team and community driven eco-fintech project focused on bridging the gap between finance, community and fundraising. The platform utilizes token re-distributions to holders, liquidity pool generation, an automatic charity support pool, accelerated burning process as well as long-term holder rewards, to ensure a fun, engaging and active community with great contributions towards creating a positive impact on the planet.
The green blockchain is designed with built-in carbon offsets and net-zero strategies to ensure an energy-efficient and environmentally sustainable world. NextGen is building an ecosystem where everyone, as a community, can invest in underfunded technologies that will help save the planet and make our future one to look forward to. Investors do not have to manually make donations to a wallet address to fund the projects they support and build funds for community giveaways and long-term holder prizes. These funds are added automatically to the funding pool, and will be used to support environmentally focused programs such as funding projects that have immense potential to decrease our reliance on fossil fuel based energy sources, restoring biodiversity, reducing CO2 levels and overall pollution levels in different parts of the world through non-profit organizations. It also helps in funding innovative new start-ups, taking recycling and upcycling to the next level and bringing their ideas into mainstream adoption, eliminating pollution of poverty by supporting African communities through farming diversification, and more.
Proof of Stake has gained a lot of traction due to its low power consumption, simplicity in implementation and ability to reward stakers. Unlike Proof of Work (PoW) networks that rely on miners, Proof of Stake-based blockchains are run by validators. Nodes seeking to become validators are required to stake (lock up) a minimum amount of tokens that serve as collateral. NextGen's native token, NXTG, will launch on the Binance Smart Chain network, which uses the Proof of Stake (PoS) consensus algorithm. With NextGen's mission of growing trees and investing in green energy projects, carbon neutrality and low power consumption is achievable. Instead of mining to get more tokens, one can hold the frictionless farming token -- NXTG, to increase their balance as the equivalent block rewards in proof of work based systems. Furthermore once their blockchain is launched, staking tokens will allow stakers to earn more tokens by becoming validators on the network.
Token holders will be able to make profits from NextGen's high-yield frictionless farming deflationary tokenomics with automatic token re-distributions that take place upon each transaction on decentralised exchanges such as Pancakeswap and Uniswap. Through positive market growth, long-term holders will be rewarded with return on investment and store of value.
Green Tech Projects
"Our vision is to create a carbon offset financial ecosystem that runs on the blockchain with incentives to long-term holders. Upon launch of our blockchain, holders will be able to become nodes on our Proof of Stake\Proof of Merit hybrid blockchain network."
Green Staker:
NextGen has started creating its solar powered Single Board Computer (SBC) staking unit aptly named the Green Staker, that can be used to run their blockchain. This unit will primarily run using a window mount solar panel and will have a built in LiFePO4 battery, which is a high recharge cycle battery, made from ethically sourced materials, has improved recyclability, highly stable and made from non-toxic components. All components of the Green Staker will be thoroughly researched with sustainability in mind.
Incentives to use this unit will be built into the operation of the blockchain. The platform's mission is to create a hybrid Proof of Stake/Proof of Merit consensus algorithm. The Green Staker's universally unique identifier will be registered to a smart contract. Every fourth block, during the Proof of Merit (PoM) validator election process, any operator that meets the minimum Proof of Stake requirements, has a Green Staker and participates in the regular community participation whitelist, will have the opportunity to be picked to validate transactions and update the ledger.
NextGen hopes to make its blockchain not only carbon neutral, but net zero emissions. Rather than relying on carbon offsets, the more nodes that run the Green Staker, the closer it gets to achieving that goal. Hopefully, this will drive eco innovation across the entire crypto space.
Xylonchain:
The platform's eco-fintech project, Xylonchain, will be the home of the NXTG token. The dev team will perform a nuclear swap once they are ready with the mainnet release. This will be the home to the platform's NXTG token, its stablecoin and will have bridging mechanisms in place to swap to other chains. With Xylonchain, the dev team will strive to build a net zero emissions blockchain based payment ecosystem for a truly sustainable alternative to financial transactions.
Rhiza protocol:
The Rhiza protocol is the center of NextGen's blockchain functional framework. This includes the hybrid consensus mechanism, hash function and the digital signature algorithm for secure communications over the network. Security is at the forefront of the protocol backing NextGen. Thus, NextGen's seasoned team are extensively researching the best post-quantum cryptography standards to ensure that the platform is running on one of the most secured, future proofed blockchains available today.
On top of being scalable, NextGen will use fast, post-quantum safe standards that are optimized for low powered computers like the Green Staker. Classical cryptography is based on algorithms that use factored numbers. Classical computers have a very hard time cracking these. Enter quantum computers, they are incredibly good at factoring numbers, so all base cryptography today is at risk as they grow in speed and capability, it puts our whole financial system and supporting systems at risk.
The PoS/PoM hybrid consensus mechanism is unique to NextGen and the team will be sure to perfect its functionality before going live.
Ultimately, NextGen will serve as a launch pad for the next generation of technological advancements across the blockchain space.
Tokenomics
10% Transaction Tax
NXTG employs 4 simple functions with the tax.
3% Re-distributed to token holders
Rewards holders with high-yield frictionless farming via token re-distributions, giving holders passive rewards.
2% Burn: Burned forever, reducing supply
The more volume the more burn. The burn wallet is a holder which helps to boost the burning process. The burn wallet is used to increase the price floor giving this token it's deflationary nature. This is locked forever.
2% Funding pool: Charity, community and green organisations
(1.5% to charity address/0.5% community pool address) Fundraise, reward and burn. The funding pool is used for supporting charities and investing in green technologies. More so, this will be used for token rewards to the community and competition winners. Any access is vested over time.
3% Liquidity pool: Exchange liquidity
Automatic market maker pool that builds liquidity for exchanges for a smooth trading experience. Unlike centralised exchanges, a decentralized exchange uses liquidity pools instead of order books. That way orders can be filled at the best price regardless of how liquid a token is. This is locked, only the DEX can access it.
The team has been working hard preparing for their Initial Dex Offering (IDO) launch. Don't miss it going live on September 10th, watch their socials for further updates.
