About TrxSys
TrxSys governs the experimental ChainCasting system as well as blockchains created using ChainCasting. We are both similar yet very different from other blockchains and cryptocurrencies. The biggest difference is that there is a governing body, TrxSys, that works to continuously improve ChainCasting features, maintain security and keep transaction times blazing fast.ChainCasting is the technology developed by and used by TrxSys. ChainCasting is our implementation of a blockchain system. We are also the inventors of the Transaction Container and Transaction as a Service.
We are an early stage startup. New features will be released frequently. Check back at our home page.
TrxSys is the Internet's "Transaction System" providing "Transaction as a Service". It does not matter if you are a Fortune 500 company or an individual, we are your blockchain. TrxSys is a new type of centrally controlled blockchain enabling "Transaction as a Service". We only do one thing and do it better than anyone else. TrxSys allows people, companies and things (like IOT devices) to share data without giving up ownership and control. We challenge the status quo of Internet companies that operate under the principle that they own your data. TrxSys enables you to own your data.
While many blockchain and cryptocurrency systems claim anonymity in transactions TrxSys does provide actual anonymity to prevent your transactions and your data from entering the public domain. However, if you publish your PID (Primary ID) or primary public key then you will lose true anonymity. Additionally, TrxSys adheres to practices that aim to prevent illegal activities such as money laundering, drug dealing, crypto-extortion, etc. TrxSys requires users who make transactions, create chain apps or post information to register with the system.
Who is the TrxSys founder?
Robert comes from the world of big tech (Intel Corporation) but this is his personal "weekend" project. He is, "Doing this for fun." Amazingly enough, he studies information theory for fun, architects systems for fun and codes for fun. "Welcome to our journey!"
Robert Lawson Vaughn on LinkedIn.
Why is there a fee to signup? Registration is currently FREE! The signup fee is currently waived for US and Canadian users. Instead we use a phone number validation method.
TrxSys uses our a native cryptocurrency. You may see it referred to as TrxSys cryptocurrency or more simply as "T". We require a minimum purchase of T at the time of registration as both a means of validating who you are (through a credit card transaction) as well as to pay for transactions.
What is meant by the designation of "expermimental"? TrxSys is new. New technology. New use cases. New data model. We are rolling out very slowly so as to refine our architectural model. The "experimental" means that we are at a "alpha" level software release where available features may change without notice. The system can be used. We will not be deleting data. In fact, even if we deleted (which we won't) the entire ledger any transactions written and signed with our public keys will continue to be valid transactions. That capability is a core feature and designed into TrxSys.
Does TrxSys use Bitcoin, Ethereum or other blockchains? We are our own blockchain. We are an entirely new type of blockchain. We are not built on top of or even based on other blockchains (like Bitcoin or Ethereum). TrxSys does not interoperate with other crypto or blockchain platforms. It is unlikely we ever will as we do not consider other platforms to have the security, privacy, performance or services that we provide. TrxSys operates in a model called "as a service" which means that you have no servers to setup and no cloud instances to pay for. We are a fully centralized blockchain provider.
TrxSys Monetary Policy for Cryptocurrency:
TrxSys is both the operator and controlling authority for transaction execution and cryptocurrency issuance.
- TrxSys is a closed cryptocurrency that is structured around a micro-license. Therefore, to own TrxSys cryptocurrency "T" means that one has the right to execute and store a given amount of transactions.
- The TrxSys cryptocurrency is typically designated as "T"
- TrxSys is not available for purchase or trade through cryptocurrency exchanges. This is forbidden per TrxSys Terms of Use
- Details of TrxSys cryptocurrency monetary policy is located at Monetary Policy
Some myths about blockchain and facts about TrxSys:
Can TrxSys actually be a blockchain if centralized?
Yes. Blockchain, in its most basic definition is a ledger of records cryptograpically bound to each other. We do this.
However, we do not publicly share the entire blockchain. Individual users and independent "inspectors" will exist to monitor the integrity of the entire blockchain. We will rollout
various types of nodes and replication systems to facilitate high performance and low cost. We are full centralized and can therefore optimize the network based on needs of the users.
There is no shadow governance with TrxSys.
Is centralization a bad thing?
No. All blockchains are actually centralized to varying degrees. They just give the impression of having "no one in control." In fact,
the folks who develop the software control what features are included. The miners that adopt the software decide what features to include. The mining pools can decide which fork is
the "real fork."
Can I mine TrxSys to earn cryptocurrency?
No. TrxSys has found that mining is unnecessary. While mining is intended to facilitate decentralized trust we have found that
mining introduces an architectural model that (1) decreases or slows down transaction throughput, (2) introduces unnecessary complexity and energy cost, and (3) creates security risks.
TrxSys does not appear to use Byzantine Fault Tolerance. Is this true?
Yes. This is a bit of technical topic but, yes, TrxSys rejects the conventional wisdom around
BFT or Byzantine Fault Tolerance as being a requirement for cryptocurrency transactional consensus. With a trusted central authority BFT is not required to provide for a trusted record of transactions. In fact, TrxSys
views BFT, as the basis for modern cryptocurrency consensus methods, as a false model of trust given that it can only work in purely encapsulated or perfectly closed systems.
If TrxSys is centralized does that mean that it is just another cloud service?
No. TrxSys enables people, companies and things to share data without giving up control. So, in
contrast to cloud service providers, transactions are cryptographically signed on a transaction by transaction basis. This means that for a given type of transaction (like social media, or
ecommerce, or photo sharing, or supply chain data) the person or thing that created the transaction will always own the transaction. The data owner can select a different service provider
to provide services on your data. Additionally, the owner can "authoritatively" export that data to an entirely different system.
Do I need a "crypto wallet" to use TrxSys?
No. Given that we use a Software as a Service model we do not require user's to store their own cryptogrpahic keys. We do that for you.
Of course, if you want to maintain your own wallet, or local key store, then you will be able to do that in a future release. We do not encourage the use of third party wallets as this can introduce security risks.
Can I buy TrxSys at crypto exchanges such as Coinbase.com or Binance.com?
No. At TrxSys we see no benefit in partnering with crypto exchanges. Our view is that a cryptocurrency
should be a component of an information system that enables transactions to work more dynamically, not an investment or speculative activity. We will not list on any crypto exchange.
Can I buy TrxSys cryptocurrency as an investment?
No. TrxSys is not an investment or security type of cryptocurrency. TrxSys is a micro-license for a given quantity of
transactions and data. Just like Microsoft has an infinite supply of licenses for Windows or Adobe has an infinite supply of licenses for Photoshop we have an unlimited supply of licenses for
TrxSys cryptocurrency.
If I cancel my TrxSys account will my transactions be deleted or blocked?
No. Transactions, once written to any TrxSys blockchain are permanent. You can cancel your account and your prior transactions will remain on the blockchain.
A note to crypto investors and speculators. TrxSys provides a cryptocurrency to facilitate remuneration within the TrxSys ecosystem. TrxSys does not offer or provide for a means of exchange back to cash (i.e. US dollar). Additionally, the supply is unlimited so as to prevent an increase (or decrease) in the value of our cryptocurrency. Do not sign up and purchase TrxSys Cryptocurrency with the intent of profiting from currency price changes. Any users acting with the intent of investing with be banned from the system without refund. Only purchase as much of our cryptocurrency as is required for account sign up or for your expected transactional needs.
Again, TrxSys cryptocurrency is not for investment use. To put it bluntly, TrxSys cryptocurrency will NEVER go up in value. TrxSys cryptocurrency will NEVER be listed on cryptocurrency exchanges.
