# Introduction

Neoxi is a Blockchain Ecosystem that runs on its own network. Flexibility and scalability in self-developed networks create an integrated and controlled ecosystem.

Blockchain: Neoxi-Chain Layer 1

Cryptocurrencies: NEXI are digital or virtual currencies that use blockchain technology for secure and transparent transactions.

Smart Contracts: NEXI20 are self-executing contracts with the terms of the agreement directly written into code.

Consensus Mechanisms: The Neoxi Ecosystem utilizes a Proof of Stake (PoS) consensus mechanism with The Byzantine fault-tolerant (BFT) algorithm to reach a consensus agreement between validators.

Decentralized Applications (DApps): NEXIApps are software applications that run on a decentralized network.

Wallets: Neoxi wallets are software tools that allow users to store, manage, and interact with their cryptocurrency assets. They provide security features like private key management.

Exchanges: Neoxi exchanges facilitate the buying, selling, and trading of cryptocurrencies.
