Abstract
Parallax Network (PLX) introduces a new era of decentralized, mobile-first cryptocurrency mining. Unlike traditional mining systems that are energy-intensive and inaccessible to the majority, PLX offers a fair, session-based mining model that ensures equal opportunities for participants globally.
With built-in KYC verification, anti-fraud systems, encrypted data handling, and secure in-app wallets, Parallax Network creates a sustainable, transparent, and scalable crypto ecosystem. This whitepaper details PLX's mission, technology, mining process, tokenomics, roadmap, and vision for a decentralized future.
Introduction
The cryptocurrency industry has experienced massive growth over the past decade, yet mining remains inaccessible to everyday users. Traditional proof-of-work mining consumes vast amounts of energy, requires expensive hardware, and often concentrates rewards in the hands of a few.
Parallax Network (PLX) addresses these issues by offering a fair and energy-efficient mining solution accessible through smartphones. By eliminating hardware barriers and ensuring session-based mining fairness, PLX makes mining available to anyone with a mobile device.
Market Opportunity
With over 6.8 billion smartphone users worldwide, mobile-first blockchain solutions have massive growth potential. The demand for easy-to-access cryptocurrency platforms is rising as digital finance adoption expands globally.
Parallax Network taps into this opportunity by providing a scalable, low-energy mining alternative that aligns with environmental sustainability while promoting mass adoption of digital assets.
Technology Overview
Parallax Network is powered by a session-based mining algorithm designed to ensure fairness, scalability, and efficiency. Key elements include:
- Session-Based Mining: Each mining session lasts a maximum of 10 minutes, and users can complete up to 5 sessions daily.
- Fraud Prevention: The system uses data analysis and verification tools to detect duplicate or fake accounts.
- KYC Verification: Ensures only legitimate users benefit from mining rewards and referral bonuses.
- Encrypted Data: All user data is encrypted both in transit and at rest, ensuring privacy and compliance.
- Secure In-App Wallet: Tokens mined are stored safely in non-custodial wallets managed directly by users.
Tokenomics
| Parameter | Details |
|---|---|
| Total Supply | 1,000,000,000 PLX (1 Billion) |
| Distribution | 100% distributed via mining |
| Mining Sessions | Up to 5 sessions per day (max 10 minutes each) |
| Referral Rewards | 10 PLX granted to referrer after new user completes KYC (+ Separate Reward) |
| New User Bonus | 20 PLX upon successful KYC with referral code |
| Exchange Listing | PLX tokens listed once entire 1B supply is mined |
Distribution System
| Amount | Details |
|---|---|
| 60% | User Mining Rewards |
| 15% | Parallax Network Team |
| 10% | Ecosystem Development and Partnerships |
| 10% | Community Incentives and Marketing |
| 5% | Reserved |
Mining Ecosystem
Mining on Parallax Network is simple, fair, and inclusive:
- Users log into the app and start a mining session
- Each session lasts up to 10 minutes
- Users can complete up to 5 sessions daily
- Rewards are instantly credited to their secure wallet
- Referral and KYC mechanisms ensure authenticity of rewards distribution
This ecosystem creates equal opportunity for all users regardless of geography or technical expertise.
Roadmap
Phase 1: Foundation and Growth
- Launch mobile mining app with session-based mining
- Implement referral system with KYC verification
- Build secure in-app wallet for storing PLX tokens
Phase 2: Expansion and Ecosystem Development
- Enable cross-chain interoperability
- Establish strategic partnerships with blockchain projects
- Introduce PLX governance system for community voting
Phase 3: Global Scaling and Decentralization
- Fully decentralize governance to the community
- Scale globally with PLX use cases such as in-app purchases and rewards
- Implement advanced security protocols and cross-platform features
- Token listing on exchanges after the full 1B supply is mined
Governance Model
Parallax Network will transition from a centrally managed ecosystem to a community-driven governance model. Through decentralized governance, PLX holders will be able to vote on key decisions, including protocol upgrades, ecosystem partnerships, and future token use cases.
This ensures long-term sustainability and community alignment.
Security & Compliance
Security and compliance are central to Parallax Network:
- KYC ensures legitimacy of users and prevents fraud
- Encrypted data safeguards privacy
- Fraud detection tools prevent duplicate or automated accounts
- Compliance with global standards ensures a safe and transparent ecosystem
Use Cases
The PLX token will serve multiple functions within the ecosystem:
Conclusion
Parallax Network (PLX) represents a groundbreaking step in making cryptocurrency mining fair, accessible, and decentralized. By combining session-based mining, referral systems tied to KYC, fraud prevention, and global scaling, PLX ensures a secure, transparent, and community-driven ecosystem.
The vision is to build a worldwide network where users can mine, earn, and contribute to the future of decentralized finance.