Nexalt introduces the concept of MLC coin by merging mass marketing and blockchain technology. To make the system secure against money laundering, Nexalt presents Proof of Network.
Each new user can join the system only through a sponsor link
Up to now, the world knows about the Proof of Work and Proof of Stake approaches in cryptocurrency. We are introducing a new concept in cryptocurrency networks. Proof of network refers to the existence of a network. Nexalt has merged the MLM referral system with blockchain to design a decentralized network.
In this decentralized network of cryptocurrency, no one can join without a referral link that confirms a new user's identity. Although every user is identified, it does not authorize any user or central authority in the network. This proof of network enables the user to receive marketing, staking, or mining rewards through multiple levels of the network. A Referral link is initiated for every new user, and they can invite more people to build their network. Referral link is compulsory for mining and staking in the Nexalt system. The system does not accept any coin without an upline. However, users can send and receive money through Nexalt without a referral system. A referral link is mandatory to activate the Nexalt core wallet for mining and staking.
In the Nexalt ecosystem, the mining reward is distributed in upline of miner or stacker up to ten levels. Each level receives 2 XLT on mining of a new XLT coin. This reward distribution becomes possible through Proof of Network. Proof of Network also helps to restrict money laundering through the network. It identifies every user in the network and keeps the network decentralization intact. Proof of Network enables for controlling the misuse of the network.
The proof of Network approach facilitates larger communities to join the cryptocurrency market and make their future good. It spreads the crypto benefits to more people and helps them elevate their social standards.Nexalt appreciates the widening user (human) network through the referral link and provides the opportunity to earn crypto coins for their marketing efforts. We welcome all the people interested in cryptocurrency and mass marketing. Proof of Network is expected to create a massive breakthrough in cryptocurrency and extend its benefits to all segments of society.