SINGAPORE--(BUSINESS WIRE)--Roxe Chain Foundation Limited, a Singapore non-profit that owns and operates the Roxe Chain blockchain, today announced its Supernodes Partner Program outlining its key benefits and requirements, as well as how companies can apply to become a supernode. Roxe Chain technology powers third-party applications to transfer value as instantly as information is transferred over the Internet, helping major banks, financial institutions, and consumers to move value much faster and more cost-effectively.
Roxe Chain is the infrastructure of third-party value transfer solutions, powering applications such as Apifiny Inc.’s Roxe Global Instant Settlement Network. In addition to supernodes, the Roxe Chain Foundation plans to activate additional network nodes over time, making Roxe Chain even faster and more decentralized, secure, and reliable.
What is a Supernode?
Roxe Chain supernodes are highly connected network nodes that provide computing power to ensure efficient operations for the entire Roxe Chain network. Responsibilities include block production, bookkeeping, and real-time recording of account books. For a detailed description of the Roxe Chain, please refer to the Roxe Chain website.
Benefits for Supernodes
A maximum of twenty one (21) supernodes will govern and maintain the Roxe Chain across the globe. The main benefit of becoming one of Roxe Chain’s 21 supernodes is a financial incentive. Each supernode will earn 1 percent of the total revenue from sending transactions using the Roxe Chain. The Roxe Chain Foundation will pay the 1 percent revenue share to each of the Roxe Chain supernode organizations on a monthly basis.
Another key benefit for supernodes is recognition as an innovative leader in the blockchain and cryptocurrency ecosystem, especially in global instant settlement and cross-border payments.
Starting today, institutions can apply to become a Roxe Chain supernode here.
“We became a Roxe Chain supernode because we recognize the tremendous value of the Roxe Chain infrastructure in connecting an extremely fragmented, global financial system,” said Erez Simha, chief financial officer of Mercurity Fintech Holding Inc. (Nasdaq: MFH). “Being a supernode will allow us to generate extra revenue with minimal time and capital investment, position us as an innovator, and benefit from faster, more cost-effective international payments and remittances powered by Roxe Chain.”
“The time has come for value transfer to meet expectations. Roxe Chain enables value to move freely, with lower fees and without friction,” said Leo Sun, Director of Roxe Chain Foundation. “We were excited to have Mercurity and Apifiny Asia onboard as our first supernodes and are looking forward to working with additional qualified applicants to our Roxe Chain Supernodes Partner Program.”
Requirements to Become a Supernode
Roxe Chain supernodes are permanently switched on and constantly run the Roxe Chain blockchain software, which makes them a reliable point of contact for other nodes to join or rejoin the network. Supernodes use considerably more processing power than other nodes because they make connections and transfer information to other network members.
Two Hosting Options
Organizations that wish to become a supernode can either self-host or run a supernode via a cloud-service provider.
More information on the initial hardware and technical requirements for self-hosted and cloud-based supernodes, and more details can be accessed here.
Timeline -- Roxe Chain Foundation Supernodes Partner Program
- First Round Application Deadline: Oct 31, 2020
- Selection of Additional Roxe Supernodes: December 1, 2020
- Rolling Applications Begin: December 1, 2020
- Pilot Testing of Roxe Supernodes: December 1 - December 31, 2020
- First Term Service: January 1, 2021 - December 31, 2021
- Voting for Roxe Supernodes (3-Year Term): January 2022
- Voting for Roxe Supernodes (3-Year Term): January 2025
About Roxe Chain Foundation
Roxe Chain Foundation Limited is a non-profit organization that owns and operates Roxe Chain, a permissioned blockchain that uses Graphene technology to enable a new paradigm for global value exchange. Roxe Chain serves as the infrastructure for third-party payment settlement and other value transfer applications like those running on the Roxe Global Instant Settlement Network. Roxe Chain Foundation Supernodes Partner Program is designed to educate the market about Roxe Chain and the benefits and requirements to become a supernode. Headquartered in Singapore, Roxe Chain Foundation was founded in 2018. For more information, visit https://roxe.io/.