AXEL BLOCKCHAIN

The AXEL Network Blockchain is one of the fastest growing blockchain networks in the world!

Join us on ProBit Exchange to purchase your first AXEL Tokens.

We’re currently trading under the ticker $AXEL paired with $BTC.

Proof-of-Stake (PoS) Consensus: Secure, Green, Sustainable, and Fast

The AXEL.Network incorporates a proof-of-stake (PoS) consensus algorithm for the purpose of transaction approval and updates to the AXEL.Network. Proof-of-stake consensus mechanisms require that each Masternode host stake a specified number of tokens in order to operate the node being deployed to the AXEL.Network.

This stake is considered collateral within the network to ensure the proper operation of each Masternode. In return for staking collateral, the Masternode host is given a reward (in the form of tokens) for their participation in the network. Proof-of-stake node holders have a vested interest in the security, integrity, and overall success of the blockchain associated with the network.

How Blockchain Works and What it Delivers

A blockchain is simply a chain of blocks that contain transaction information associated with the transactions that occur on the network. A block is created by the network by collecting a specific number of transactions, then grouping these transactions into what we refer to as a block.  Each block of transactions is added to the chain sequentially, meaning that the last block added always reflects that latest group of transactions.

A hash is created to identify each block that is generated and added to the blockchain.  The hash is a series of random numbers and letters that is used to identify each block. The hash is typically tracked through the use of a block explorer such as https://explorer.axel.network.  By selecting a hash from the explorer, each transaction stored in that block is visible.

Blockchain creates a method in which a completely decentralized and public network can create trust between nodes, enabling the network to fully function without a single controlling or centralized entity.  Since all nodes are sharing the same blockchain, each node has the entire history of the network and can ensure the accuracy and integrity of the blockchain and the network.  Without a technology such as blockchain, we would be relying upon centralized network control to ensure the network and transaction records are consistent and accurate.