Nutbox DAO

dicesun (28)in #nutbox • 2 years ago (edited)

Nutbox is a Decentralized Autonomous Organization (DAO) that is built on the Ethereum network. Nutboxes work in parallel to increase how quickly and accurately they can provide answers to questions. It's a community where people work together to answer questions. It's like a super computer. It can be used for anything from completing a quiz to looking up how long it takes for the sun to go down in a specific location. The Nutbox is a decentralized autonomous organization (DAO) that is based on Ethereum smart contract. The DAO takes care of the storage of all the data needed for the project and will work on the basis of Ethereum smart contracts. The goal of the project is to create a network of virtual data centers that will be able to provide high-performance computing power for every project that will be based on Ethereum.

A nutbox is a machine which is designed to mine cryptocurrencies. A cryptocurrency is a digital or virtual currency that uses cryptography for security. A nutbox is a cryptocurrency miner. It is a device which is designed to mine cryptocurrencies such as Bitcoin. Blockchain technology is used for a lot of different things, but what could it do for the online gaming community? If you’ve ever played a game that is supported by microtransactions, you know that they can get pretty expensive. It is not uncommon for people to spend $250-$500 a month on in-game purchases. That doesn’t even include the game itself! What if I told you there was a platform that used blockchain technology to support an online gaming community, but it was completely free to use? It would be like playing the game for free!

How to use the Nutbox parachain validators

The parachain validators are responsible for verifying the blocks that are coming from the block creator. The block creator is the entity that does the consensus work in the blockchain. The parachain validators are therefore tasked with doing the same work for the parachains in the Nutanix Blockchain Framework. The parachain validators do not however do any consensus work. They simply verify blocks that have been created on the parachain. We launched the Nutbox dApp Controller v1.0, which is a dApp that helps you to setup a parachain, manage validators, and create dApps on the parachain. To help you get started, this blog will explain how to use the validators, specifically how to use the contract code and what to look out for. The Nutbox architecture allows you to use an unlimited number of validators, but we recommend you start off with just one.

The purpose of parachain validators is to validate non-essential transactions such as the transfer of assets from one address to another. In case of a faulty transaction, the validator would emit a rejected message which would be picked up by the parachain monitor. This monitor would reject the faulty transaction and go on to process the next one. The validator is non-essential because the core parachain protocol is sufficient to process the essential transactions. Therefore, validators can be run by anyone who is willing to stake their tokens. We’re happy to announce that the first version of the Nutbox validators are now available. These validators are an example of what we call parachains. Parachains have the ability to store and process data, and they can be created using the existing tools that are used to build its parent chain (the Ethereum main chain in our case). It’s important to understand that parachains are completely isolated from the main chain. This means that they cannot send information to or receive information from the main chain. Furthermore, all parachain data is stored in a local blockchain database (called the state database) that is unrelated to the main chain. You can read more about the parachain concept in the whitepaper .

USEFUL LINKS

Website: https://nutbox.io/#/
Telegram: https://t.me/nutbox_defi
Medium: https://medium.com/@nutbox.dao
YouTube: https://www.youtube.com/channel/UChMtQt_4E-WgstpMJt-W_EA
Twitter: https://twitter.com/NutboxDao
Discord: https://discord.com/invite/zPkMuGY

AUTHORS DETAILS

Bitcointalk Username: Dicesun
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2768267

#walnut #nut #web3 #dao

2 years ago in #nutbox by dicesun (28)

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