NOWChain Pioneers Proof of Mobile, Poised to Redefine Security Through the Unified Power of Mobile Devices

NOWChain Joins Hands With Intract

On 7 August, NOWChain proudly announced a strategic partnership with Intract, a Web3 growth platform dedicated to educating new users and fostering community engagement.

To commemorate this alliance and the notable achievement of processing 100,000 transactions on 29 July, which is within just seven days of its testnet launch on 22 July, NOWChain and Intract are offering a unique giveaway.

They are awarding 100 Dauntless Explorer II Roles to fortunate participants as well as unlocking potential airdrop opportunities in the future.

This event will conclude on 30 August at 2:46 PM SGT.

To join in on this celebration and be eligible for the giveaway, participants are required to follow NOWChain on X, Discord, and Telegram, as well as follow Intract on X, and retweet the announcement.

Over 250K Transactions Processed on its Testnet in Just Over Two Weeks Post-Launch

On 6 August, NOWChain achieved a significant milestone as its Testnet exceeded 250,000 transactions, marking just over two weeks since its launch on 22 July.

This launch was accompanied by the introduction of the NOWChain point system, which incentivises users to engage with the NOWChain Testnet through activities such as swapping, adding liquidity, daily check-ins, and requesting faucet tokens.

To participate in the NOWChain Testnet, users must first claim tokens from the designated faucet webpage.

Then to initiate a swap, users navigate to the swap webpage, connect their wallet, select the cryptocurrency they wish to exchange, and specify the desired amount.

In addition, adding liquidity to NOWChain requires users to hold a sufficient balance of tokens, which can be obtained through faucet requests and swaps.

Upon adding liquidity, users receive pool tokens representing their share in the pool.

These tokens entitle holders to fees proportional to their pool share and can be redeemed at any time.

The Point System rewards users for their Testnet activities.

On the Point System webpage, a leaderboard displays the wallet addresses with the highest point totals.

Users can earn 20 points per daily check-in and an impressive 100 points for each successful referral through social media and Telegram.

Additional points are earned for each swap transaction and liquidity pool contribution, with 100 points awarded for each activity.

The accumulation of points positions users favorably for the upcoming NOWChain airdrop.

NOWChain's tokenomics are as follows:

What is NOWChain?

NOWChain represents a blockchain ecosystem that synergistically integrates blockchain technology with the inherent security features of mobile devices, thereby establishing a new benchmark for trust.

The platform is dedicated to constructing a robust ecosystem that empowers individuals to conduct transactions with unwavering confidence, assured that their assets are protected by an innovative security approach.

NOWChain has spearheaded the development of Proof of Mobile (PoM), a revolutionary innovation designed to transform security paradigms by harnessing the collaborative strength of mobile devices.

Proof of Mobile (PoM): Redefining Consensus Mechanisms for the Age of Mobile Devices

As society's dependence on mobile devices for communication, commerce, and social engagement continues to grow, the demand for efficient and secure consensus mechanisms suited to the mobile environment's distinct challenges becomes increasingly evident.

Traditional consensus mechanisms like Proof of Work (PoW) and Proof of Stake (PoS) have been foundational to blockchain networks, ensuring decentralised agreement on the ledger's state.

However, the significant resource demands of PoW and the potential for centralisation in PoS pose challenges in the mobile landscape.

In the ever-evolving realm of blockchain technology, security remains a top priority, with the pursuit of robust consensus mechanisms and strong defenses against attacks being an ongoing endeavour.

In response to these challenges, Proof of Mobile (PoM) emerges as a compelling alternative, offering a fresh approach to achieving consensus in mobile-focused networks by capitalising on the widespread use of mobile devices to broaden participation and enhance security.

At its essence, PoM is a consensus mechanism that authenticates and secures transactions by exploiting the mobility patterns of users' devices.

In contrast to PoW, which requires miners to solve intricate cryptographic puzzles, or PoS, which depends on participants locking up their cryptocurrency holdings, PoM introduces a radical shift by using the physical movement of mobile devices as a method for reaching consensus.

This approach not only addresses the shortcomings of conventional consensus mechanisms in mobile settings but also unlocks new possibilities for creating decentralised networks that are efficient, secure, and accessible to all.

The concept of PoM is centred around the idea that the movement of mobile devices can act as a substitute for computational work or staked assets in traditional mechanisms.

By utilising GPS or location data from mobile devices, PoM algorithms can determine the physical closeness of devices, fostering trust and allowing them to collaboratively validate transactions.

In a nutshell, by leveraging the connectivity and integrity of smartphones, PoM introduces a decentralised method for consensus, enhancing network resilience and scalability.

Tony Le, Founder and CEO

Le, the visionary Founder and CEO of NOWChain, has transformed the blockchain industry with his innovative mindset and unwavering ambition.

Renowned for his contagious passion and motivational leadership, he firmly believes in the synergy of teamwork and the impact of individual contributions.

A dynamic professional with a comprehensive skill set spanning both technical and non-technical domains, Le boasts over 20 years of diverse experience in marketing and sales across various sectors, including IT, finance, real estate, marketing, and consumer electronics.

His reputation for exceptional multitasking and adept management of cross-functional teams to meet deadlines with outstanding results is well-established.

He excels in collaborative settings and is an early adopter of emerging technologies, including AI and blockchain.

His favourite quote:

"The future belongs to those who believe in the beauty of their dreams"

Other than work, Le dedicates his free time to exploring cutting-edge technologies, traveling to new destinations, and networking with diverse individuals.

Under his leadership, NOWChain continues to challenge the status quo and empower the future.

Le holds a bachelor's degree from Western Washington University and an MBA from Webster University.

His socials: X and LinkedIn

NOWChain's Socials

Website

X

Telegram

Discord

Facebook

Bringing in a New Era of Blockchain Consensus

PoM signifies a transformative shift in blockchain consensus mechanisms, leveraging the ubiquitous presence of mobile technology to advance decentralisation, efficiency, and inclusivity.

PoM's energy-efficient, scalable, and innovative incentive models position it as a potential game-changer in how we approach consensus in the mobile age, unlocking new avenues for decentralised applications (dApps) and services tailored for mobile use.

As mobile device adoption surges globally, Coinlive is confident that PoM will be instrumental in defining the future trajectory of blockchain technology and decentralised systems.

With NOW Chain spearheading this innovation, the potential impact of PoM on the global blockchain ecosystem appears limitless, heralding a new era of possibility and transformation.

To add to their credibility, ever since the launch of its testnet on 22 July, its transactions have been on a rise — from over 100,000 on 29 July, to over 250,000 on 6 August, and almost 343,000 at the time of writing on 8 August.

This translates to nearly 54,000 daily transactions.