Parallax Protocol

This section explains the base rules of the Parallax protocol — cryptographic primitives, deterministic execution, proof-of-work (XHash), and the consensus logic that defines canonical history.

Purpose of this section
Parallax merges Bitcoin’s ossified monetary discipline with Ethereum-style programmability. These documents detail how Parallax maintains a fixed supply and predictable issuance while enforcing deterministic execution and open, work-based consensus.
  • Cryptographic Soundness: Transactions and state transitions are authorized with ECDSA (secp256k1).
  • Deterministic Execution: PVM mirrors EVM semantics under Bitcoin-like constraints.
  • Proof-of-Work as Time: XHash turns computation into a verifiable ordering of events.
  • Consensus through Work: Canonical history is the valid chain with the greatest cumulative work.

These pages target developers, miners, and researchers seeking a precise understanding of Parallax at the protocol layer.

Protocol Architecture
How Parallax unifies cryptography, deterministic computation, proof-of-work timekeeping, and Nakamoto consensus into a cohesive protocol stack.
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Block Reward & Halving
Bitcoin-like issuance: 50 → 25 → 12.5 … every 210,000 blocks, asymptotically approaching 21M with clear visuals and parameters.
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Coinbase Maturity Scheduling
How miner subsidies are escrowed on-chain and released at a fixed maturity height via the lockbox state mechanism.
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Difficulty Algorithm & Fork-choice
Epoch-anchored difficulty retargeting and cumulative-work fork selection, including Median-Time-Past checks and epoch anchors.
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XHash (Proof-of-Work)
Parallax’s memory-hard PoW based on Ethash-style Hashimoto with Parallax-specific seal hash, target mapping, and epoch/DAG handling.
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