KnoxFS is a Bitcoin-based cryptocurrency built on the KFX blockchain designed for sending and storing data. The platform aims to build a decentralized solution for providing an innovative, secure, and private storage application globally for the non-blockchain and crypto-based world. Subsequently, KnoxFS integrates with existing storage networks from Sia, Stroj, and Filecoin in a fully decentralized architecture to offer a redundant public Application Programming Interface (API) solution for automatic trading. 

According to the whitepaper, data transmitting and storing among peers has been common in recent times. While doing so, individuals have to forfeit their privacy in various real-life situations. Thus, KnoxFS is building a decentralized solution using InterPlanetary Files System (IPFS) and blockchain technology. IPFS is a variation of the file system that can store files and track versions over time. Another security aspect is addressed by following a delegated Proof of Stake (DPOS) algorithm that supports staking and masternodes. Masternodes are nodes running on the same wallet software and blockchain to provide extra services to the network. 

Further, KnosFS utilizes existing third-party open source storage networks enabling scalability, flexibility, and redundancy. The team intends to offer a range of commercially viable applications centered around decentralized storage with a broad user base. Additionally, the platform also seeks to facilitate the self-developed software solutions with the KFX currency as a payment option and therefore drive demand for the coin. 

The KnoxFS ecosystem runs a community-owned DAO governed structure with KFX token. Users can stake KFX tokens on the blockchain. Consequently, users can pay for commercially viable products like in-app advertisements, premium subscriptions, coin sales, grants, and sponsorships using KFX tokens. Users can purchase KFX from various decentralized exchanges (DEX) platforms. 

In the future, to create a solution for automatic swapping of coins and increasing liquidity, the platforms intend to bridge KFX to the Ethereum blockchain with the help of a wrapped KFX token. Besides, the launch of a wrapped token (token represented by another token to be available on a different network) intends to help the open platform possibilities to trade on DeFi platforms and attract new token holders.

Aegeus was the founder of the KnoxFS project in late 2017. Later, in 2020, Aegeus rebranded KnoxFS and made a pivot. The project aimed to issue a maximum of five million KFX tokens. 

Actualizamos nuestro KnoxFS a EUR en tiempo real. Obtén el precio de KnoxFS actual en Coinbase.