Due to its trustless nature, blockchain technology will come to dominate many interconnected systems as its rate of adoption grows. When cryptocurrencies first became available to the public, initial methods of mining blocks used tremendous amounts of hashing power. However, Elixir proposes and implements a new mining system based on proof of time and batch creation with genesis transfers.
Elixir aims to provide a lending, payments, and crowdfunding platform that will allow the mainstream and non-cryptocurrency-adept user to utilize blockchain technology and easily take control of their financial assets. In the pages below, the mining system which Elixir is built on will be explained in detail, as well as the initial market that Elixir intends to pursue to introduce cryptocurrencies to the mainstream and provide real world use-cases of this new blockchain technology.
Elix
