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.