What is CCNX?
CCNX stands for Cash Coin NeXt. It is the token economy of the entire CashCart community, the utility coin that circulates around the whole ecosystem for rewards and payments as well as delivery payments. With CCNX you can earn and redeem rewards, shop with accumulated rewards, give to peers, and cash-out to local currency thru CashCart Switch Mode. (Cash-out is initially available in PHP and within the Philippines only during this time and will be available to global users soon!)
CCNX is a mosaic created via ProximaX Sirius Private Blockchain Instance and is the most recommended method of payment in the CashCart Shopping eMarketplace. (Other modes of payment are widely accepted like Visa and MasterCard but using CCNX affords you the fastest transaction.)
CCNX is a stable coin pegged at current USD rate with the value of 0.02USD/CCNX. A stable coin is a coin that is not speculative in nature, such that, its value is not dictated by the crypto-trading market.
CCNX is a transferable and immutable digital asset wherein one can transfer to another CCNX wallet holder. We call this peer-to-peer (P2P).
CCNX transactions are recorded in the ProximaX Sirius Blockchain Instance as immutable and distributed ledger verified thru a transaction hash.
CCNX is available thru accredited CCNX top-up agents and resellers, and from your CashCart account as SCV (shopping credit voucher).
CCNX is primarily used for shopping transactions in the CashCart eMarketplace. CCNX is available at CashCart as Shopping Credit Voucher (SCV) and wallet top-up. Upon check-out of a product or service, a user can pay from his or her CCNX available balances. The payment is then deposited to CashCart’s system internal “escrow” and will be released once the item is confirmed delivered by the buyer.
Once the buyer confirms the Pick-O delivery, the internal “escrow” will release the payment to the seller and the delivery fee to the Pick-O deliverer. The payment is made in CCNX.
CCNX as token rewards are accumulated in the user’s CashCart account. These accumulated rewards can be used to shop items and avail of services, as fund to boost online stores, and transfer Peer 2 Peer (P2P) or to your own CCNX wallet. Using CCNX is highly encouraged and users who top up his or her e-wallet through his or her CashCart account gets more rewards in CCNX.
CCNX accumulates in a shopper’s account for continuous shopping within the CashCart e-Marketplace and for patronizing the products and services in the platform.
CCNX is available as fund to sellers who wish to boost their online stores to enable internal marketing features. Any user that pays attention to the merchants’ advertisement gets an allocated reward by the merchant.
Every time a user refers another as shopper, merchant or deliverer, he or she gets rewards in CCNX.
CCNX is generated for every right and responsible transaction within the platform. The consensus mechanism known as the Proof of Transaction (PoT) outlines the code of compliance within a transaction. Policies compliance by the users results to gaining rewards in CCNX.
The CCNX Wallet is an app that enables you to transact with CashCart online shopping and Pick-O shipping and deliveries. You can send and receive CCNX tokens here. Using QR codes, transactions are made even faster and easier.
Note: Registration is initiated through the CCNX Wallet. The wallet is only available in the Philippines during this time and will be available to global users soon!
Once the CCNX Wallet App is downloaded via Google PlayStore and AppStore, the same username and password will be used to login to your CashCart account. Inside their user accounts, members can top up their e-wallets with CCNX using a fiat source and more rewards are given to users who do so.
The CCNX Wallet is derived from the NEM open source and free software under MIT license. Our base source code is available at https://github.com/NemProject/NEMAndroidApp. Please report any issues at https://github.com/NemProject/NEMAndroidApp/issues.
When you create the CCNX Wallet, please read and understand all the security protocol notifications. The CCNX app is NOT an open source project. Although it has been continuously and extensively tested by the community, the CCNX team is not responsible for any malfunction or loss of funds due to misuse and low device security. The security of your device is the first layer security of your CCNX Wallet. Be a responsible user.