xx coin: The first public sale will begin on 7th January at 11 pm GMT and will end once the limit of USD 15 million has been reached or on the 7th February, whichever is earlier.
xx coin is the name of the new token with which David Chaum is aiming to disrupt the entire Bitcoin and cryptocurrency community. His new token is designed to be better, faster and, above all, more practical. The xx coin is defined by its special algorithm, the so-called xxBFT algorithm, which is resistant to quantum computers. Or, at least, it should be as quantum computers only officially exist on paper. In this blog post, you’ll find out why the launch of his coin is making great waves, as well as when and precisely how you can buy the first tokens.
David Chaum is a cryptology legend
David Chaum is a pioneer in cryptography and the inventor and owner of numerous patents and founder of Digi Cash, one of the early versions of Bitcoin. Bitcoin technology is largely based on Chaum’s innovative spirit. However, he had his own issues with Bitcoin and this criticism is not exactly unjustified. Bitcoin is a data leech first and foremost. Far too much data is publicly stored on a permanent basis on the Bitcoin network. This will be gathered by governments, criminals and commercial enterprises all around the world at some point. As a result, every digital transaction will be a security risk. With his new currency, xx coin, David wants to solve this very problem with his blockchain storing and divulging only the most essential data. Chaum wants to do away with all other data – so-called metadata – from his xx coin blockchain.
The first product will be a messenger for the masses which does not store metadata such as location or time, but allows the user to do what they intend to do: send messages. A messenger is important as, after all, a digital transaction is nothing other than a form of message. His xx coin is also based on this messenger.
Ben Wenger, technical director at Elixxir says:
The xx messenger will be a mainstream and everyday application as the future of the blockchain lies in everyone using it daily. However, the first move is to ask the community to test the messenger and see whether the xx network solves all scalability problems.
The xx coin is a digital currency that has been designed to be part of the decentralized ecosystem of the xx network.
The xx network will support decentralized messaging, payments, and dApps and was designed in response to growing public concern for user privacy as well as the emerging threat of quantum computing.
The Elixxir communications layer provides groundbreaking privacy and security by shredding user metadata while Praxxis provides a denominated coin structure that breaks payments into individual coins to provide privacy. The xx coins and the Praxxis breakthrough blockchain consensus protocol that enables them are based on distinctive hash-based cryptography, which is secure against attacks from current nation-state adversaries and future quantum computers.
xx coin cryptocurrency
The sale of xx coin will begin on 7th January at 11 pm Greenwich Mean Time and will last for a month until 7th February 2020. It is likely that the sale will end earlier than this once the coins have all been sold. There is a limit of 15 million US dollars. The tokens will be sold at a fixed price of 35 cents and a maximum token value of 250,000 US dollars is permitted per user. This is because the xx community needs as many users as possible from all around the world to get the cryptocurrency off the ground. Users from the US are not permitted to take part in this token sale for legal reasons. Anyone interested in more information can visit this website. It includes the first version of the whitepaper as well as a “technical letter” on the Praxxis blockchain protocol. Anyone wanting to buy coins must download the Praxxis app, register and undergo a stringent verification process. These days you never know what these kinds of apps are all doing on your phone. Anyone simply wishing to speculate will soon be able to buy options for this coin. It is recommended to create an account on one of the various Bitcoin exchanges and verify the account so that you are prepared. As usual, it is advised to invest in knowledge and know-how. Ideally from this blog here.
Initial Sale on January 7th
Of the 700 million total coins sold, part will be sold in the initial sale on January 7th and the rest timed with the launch of the xx network main net in 2020. The initial sale will have a target cap of $15 million USD or approximately 4.3% of the network.
The coins in the initial sale will be sold at $0.35 to qualified participants who want to help grow the xx network. Because we believe in a fully distributed network, the cap participation will be at $250,000 or approximately 710,000 coins.
Methods of payment accepted will be USD wire transfer, BTC, ETH, USDC and GUSD.