NodeX Consensus Mechanism

The consensus mechanism for the $NODEX token is a proof-of-burn (PoB) mechanism. PoB is a consensus mechanism in which nodes burn virtual currency tokens to participate in the validation of transactions and the creation of new blocks on the blockchain network. This aligns with the concept of using the generated revenues from node operations to buy back and burn $NODEX tokens, as it involves burning tokens as part of the consensus mechanism.

The buyback and burn feature, combined with node operation revenues, is a strategy to create scarcity and potentially contribute to the long-term appreciation of the $NODEX token. This strategy involves using the revenues generated from node operations to buy back $NODEX tokens from the market, and then permanently removing them from circulation through burning. According to economic principles, a decrease in the supply of a token while demand remains constant or increases could potentially lead to an appreciation in the token's price over the long term.

The combination of these two elements - the proof-of-burn consensus mechanism and the buyback and burn feature with node operation revenues - is designed to create a sustainable and potentially appreciating value for the $NODEX token over the long term.