Knox FS Project… the Phoenix.
Knox FS Project… the Phoenix.
A phoenix is a mythical bird from Greek mythology which was periodically consumed by fire every 500 years, then rose from its own ashes.
When the time to decease arrived, it would make a nest, lay a single egg and on the third day, it burned. The Phoenix was burned entirely and, when reduced to ashes, the same Phoenix, always unique and eternal, would rise from the egg.
KnoxFS is currently experiencing a similar fate. The project was originally created in 2018 under the name AEG.
Now recreated with new tokenomics, a new name and ticker and a new marketing strategy.
At the end of February 2020, the snapshot of the old AEG blockchain was made and the new wallets were posted on GitHub. In addition, IOS, Windows and Linux wallets have been made available to the public.
Since the relaunch, there have been many news announcements and updates released by the KnoxFS marketing team:
- Coin Burn: On July 27 the team announced a massive coin burn: “Yesterday we burned almost 425 million coins from the supply, reducing the number of coins from around 550 million to 128 million. Burn address can be found here:
- New Exchange: Listed on Altilly.com: https://www.altilly.com/market/KFX_BTC
- Staking and mobile wallets for IOS and Android using the Trittium solution. https://medium.com/@Trittium_cc/kfx-added-to-the-trtt-mobile-wallet-2fcd5e79b093?sk=9bea9883ee8d6015ea9096cc6fe834cc
- KFX airdrop for all the Trittium platform users. (More than 4,000).
- KnoxFS is added to MynodePool.com; in this way, staking is much easier. https://www.mynodepool.com/
- KnoxFS will be listed on the Bastion Exchange https://bastionex.com/
- KnoxFS is in processing to be added to https://masternodes.online/
- ….. and much more to come with a massive marketing campaign and more exchange listings to follow.
KNOX FS coin economy:
- KnoxFS offers the following reward structure: 40 KFX per block. 30 KFX split between three tiers of Masternode holders/owners and 10 KFX for the staker.
- KnoxFS is implementing a 3 Tiered Masternode system to give investors with differing financial positions the option to own a full Masternode.
- Tier 1 Masternode: 30,000 KFX collateral with 4 KFX reward.
- Tier 2 Masternode: 50,000 KFX collateral with 10 KFX reward.
- Tier 3 Masternode: 70,000 KFX Collateral with 16 KFX reward
The Project Use Case
The KnoxFS project offers a real use case that can be utilized by millions of users all over the planet, the IPFS technology.
InterPlanetary File System (IPFS) is a distributed storage system that allows direct interaction through a secure and global P2P network. At the same time, it will enable users to store all kinds of information within a fast, safe and decentralized cloud file system.
In other words, the IPFS system seeks to change the conventional cloud storage method that is used today by centralized servers in large datacenters. A system that has shown severe weaknesses in terms of security and freedom of access to information. IPFS technology is the decentralized solution to this.
As the KNOXFS whitepaper states: KnoxFS will use IPFS to store securely, send and distribute all file types across a global IPFS node system initially and will then proceed to a customized IPFS KnoxFS node network at a later stage.
The KnoxFS Project will launch the alpha version of the IPFS platform to the public sometime during 2020. The first beta release will be in 2021.
Initially the Knox IPFS network will run via a dedicated platform. In time, it will be possible to execute the platform’s functions directly from the user’s KnoxFS wallet.
The future of IPFS technology
Detailed analysis of how the web content delivery system works today, shows that the underlying architectures of these services are often inefficient and insecure.
- High availability: The final objective is not achieved, since failures in the application or in the web server configuration are not covered.
- Growth in the number of users: Exponential increase in users and the number of times the data is accessed from multiple devices. In turn this means that each time the set amount of data to be delivered is more significant.
- Cyberattacks and unauthorized modifications (defacements): If the web server is attacked and all the content is deleted, users will not see the content until the administrator restores the data from a backup copy. This in turn can increase application vulnerability.
- Privacy and Internet censorship: The current browsing protocol (HTTP) design makes the delivery of web content centralized. As previously noted above, content is delivered from a server or central point.
The solution that IPFS technology offers:
- Fault tolerance
- Bandwidth requirements are significantly reduced and reliability is improved
With all these premises and the high compatibility between blockchain and IPFS (IPFS has been created from blockchain technology and its hashes), it is only a matter of time before this type of ground breaking technology is exponentially utilized by more and more users globally.
KnoxFS is betting on an innovative technology that has potential beyond our imagination.
KnoxFS Future and next steps
The launch of the new Knox has been incredible. The positive response from our community members confirms that the project is on the right track.
This is only the beginning. There are many new features under development.
— Reduction of the payment structure, seeking a reduction of inflation of 75%
- Implementation of a development fund from rewards
- Data Collaboration: Multi Send function will be available from the KnoxFS Network
- QT Wallet Redesign
- Wallet Tab Proposal/Voting
- Automatic Backup/External Storage Devices
- Hardware and Masternode Support
- U2F Integration
KnoxFS is a project open to the community and offers full transparency. The project has great potential for growth with a team of professionals who are genuinely enthusiastic about working on a project in which they strongly believe. The team is currently working hard to achieve a product with immense short, medium and long term demand.
All of developments that have been undertaken to date and those that are yet to occur are focused on the same objective: To increase the long term value of the project and its coin KFX, and provide profitability to its current and future investors.
As a growing project KnoxFS is currently looking for new core team members. KnoxFS mainly needs developers, marketeers and community managers. If you have experience in any of the before mentioned areas and want to participate in an exciting community project, please contact the KnoxFS team via any of the links below.
If you have any questions about the project or require more information, please do not hesitate to contact us at the following links:
- Discord; https://discord.gg/bTtgmMf
- Telegram: https://t.me/knoxFSOfficial
- Twitter: https://twitter.com/fs_knox