Simplified Explanation: MaxxChain, $MAXX Token and the Maxx Ecosystem

EDIT: ALTHOUGH MOST OF THIS ARTICLE REMAINS VALID, PORTIONS OF THIS ARTICLE IS TO BE UPDATED AT A FUTURE DATE DUE TO THE MIGRATION OF $MAXX BSC/ETH TOKENS TO MAXXCHAIN

MaxxChain is a Layer 1 Proof of Work (PoW) blockchain powered by the Ethereum Virtual Machine (EVM) developed by the Maxx team with a goal to simplify the crypto space for developers, projects, and users.

MaxxChain serves as the backbone of the Maxx Ecosystem, which includes three $MAXX tokens and their utilities across three different blockchains.

Before exploring the offerings of the Maxx Ecosystem, let’s dive into the blockchain that drives it.

Powered by MaxxChain

MaxxChain, being an EVM-based blockchain, offers a user-friendly environment for creating and executing smart contracts, making it easily accessible for developers and projects. As a Layer 1 PoW blockchain, it provides crucial advantages like decentralization, security, and transparency, empowering developers to thrive without limitations.

All transactions within MaxxChain are facilitated by its native chain coin, PWR (Power) — similar to BNB and ETH on their respective chains.

Miners located worldwide play a vital role in securing the chain through individual or pooled mining efforts. Miners use specialized computers, or mining rigs, to solve complex mathematical problems which validate transactions on a blockchain network in exchange for the opportunity to earn PWR rewards. Their collective contribution ensures decentralization, security, and transparency for all user transactions on the chain.

$MAXX on MaxxChain

As ambassadors to the chain, the Maxx team will introduce their token project, $MAXX, within MaxxChain to promote this emerging blockchain. The trio of $MAXX Utility Tokens will ultimately span across three different blockchain networks, MaxxChain, BSC, and ETH, attracting users from different chains and rewarding them with the native blockchain coin, PWR, making them instant holders of MaxxChain.

To foster the growth of the entire ecosystem and reward loyal $MAXX token holders, the Maxx team will focus on enabling users to capitalize on arbitrage opportunities using the MaxxBridge. Additionally, future utilities such as Lotto Maxx and IgniteQR will aid in driving volume while strengthening the ecosystem.

As the chain expands, the Maxx team will continue to enhance the trio of $MAXX tokens with additional utilities and benefits. They will also dedicate their time in expanding the user base and attracting more projects to launch on-chain.

I’m still confused…

To simplify this, let’s imagine MaxxChain as a shopping mall situated on neutral land, embodying decentralization. The mall has its own currency, PWR (Power) coin, whose value is determined by the supply and demand of transactions made by shoppers and store owners within the mall’s currency exchange (CEX).

Miners, located worldwide, contribute to the network’s security and transparency by utilizing the PoW consensus mechanism, ensuring the safety of transactions while preserving the privacy of shoppers and store owners. For their efforts, miners are rewarded with PWR coins for their diligent efforts in maintaining the integrity of the supply chain.

Developers act as businesses and can easily open their own stores (projects) within the mall using the EVM. The Maxx team provides a wide range of on-chain utilities, including the unique support of MaxxLaunch, setting it apart from competing shopping malls (blockchains). Education is prioritized, and the Maxx team aims to educate shoppers and business owners of all skill levels through its extensive knowledge base.

During the grand opening (mainnet launch) of the mall, the management team (Maxx team) will open their own store, $MAXX, alongside other businesses. Discussions are already underway with interested businesses (projects) looking to open their own stores within the mall after the grand opening.

With the introduction of new stores (projects), the availability of diverse product lines (on-chain utilities) increases, providing more options and accessibility for businesses interested in joining the mall.

Moreover, the management team has access to other shopping malls (ETH and BSC). As stores (token projects) gain popularity, this opens opportunities for businesses to expand and franchise their stores (launch cross-chain) to other malls (BSC and/or ETH) using the MaxxBridge ($MAXX token has already been launched on BSC and ETH networks and will be available to move cross chain upon launch of the MaxxBridge and $MAXX token on MaxxChain).

As the mall (MaxxChain) expands its selection of goods (on-chain utilities and projects), it becomes a one-stop destination for shoppers (users), attracting more visitors to the mall.

In the long term, the management team envisions opening a department store and food court (real-life use-case) within the mall to further attract potential shoppers and benefit all stores (projects). However, investments in these ventures depend on the successful opening and short-term success of the shopping mall (MaxxChain).

So in summary:
MaxxChain = Shopping Mall
PWR (Power) Coin = Currency for the Shopping Mall
On-Chain Utilities = Mall Infrastructure
Projects On-Chain (Such as $MAXX PWR) = Stores in Shopping Mall
Project Utilities = Assortment of goods for sale
Cross-Chain Launches = Franchising of stores