IPX is the native cryptocurrency token powering the Tachyon protocol, designed to underpin the next generation of VPN, IoT, DeFi, CDN, DNS, data storage technologies, and also includes an innovative new take on staking.
Tachyon also aims to create a blockchain-based decentralized marketplace for bandwidth worldwide, built to empower a variety of growing business technologies such as IoT, VPN, CDN, DNS, and more. Tachyon VPN is the first application powered by the Tachyon Protocol.
The protocol is bridging anyone with bandwidth and anyone looking to use bandwidth and has already reached over 470,000 global users since its launch in March 2020. On the supply side, everyone can run a node and earn IPX rewards by offering VPN traffic. On the demand side, all VPN users can use IPX to access VPN traffic.
Tachyon Achieves Milestones in Node Growth and Total Tokens Staked
Tachyon achieved a milestone in just one week after its staking went live on ipxus.com and Bithumb with over 173,000,000 IPX tokens staked across 1225 nodes. When staking first launched, the blockchain-based network had just over 150 nodes, demonstrating over 700% growth in the total number of nodes in the network.
According to CoinMarketCap, there’s a circulating supply of 266,000,000 IPX in the market. This means that 65% of circulating IPX tokens have already been staked since the launch.
Everything You Need to Know About IPX Staking System
Node providers in the Tachyon network stand to earn additional rewards generated in IPX tokens by staking a set number of tokens.
Anyone can run a Tachyon node to begin earning incentives from the self-governed IPX Staking System. No technical skills are required to start earning a portion of the daily reward distribution.
Tachyon’s IPX Staking System utilizes both a Session Reward and a Staking Reward.
Session Rewards are variable and earned by selling bandwidth to global VPN users while Staking Rewards are set at a regular reward automatically generated by the system.
Standard staking capacity for individual Tachyon nodes stands anywhere between 20,000 and 200,000 IPX tokens.
IPX Staking debuted with partner ipxus.com, bringing over 1000 new nodes to the Tachyon Network. The staking model has also debuted on Bithumb, one of the largest cryptocurrency exchanges in the world, which further increases IPX’s visibility.
Additionally, Tachyon recently revealed an IPX Wallet which is designed for Tachyon VPN users to exchange other cryptocurrencies and fiat currencies to IPX tokens immediately inside Tachyon VPN to purchase premium VPN traffic.
Initial staking partners include ipxus.com and Bithumb, but the list will expand in the future and more users will demand access to the unique staking solution offered by Tachyon.
To learn more or get involved in the IPX Staking System, visit the company blog for more details.
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