- 4 January, 2019
- Posted by: sekker2k4
- Category: Blockchain, Cryptocurrency, Media
1: Let me introduce you to XCN first
“Cryptonite was born to solve the scaling problem of bitcoin and all the coins based on the classic blockchain. The idea is to have a full node without the full chain, by changing how it works from the internals. You can’t expect a coin to keep the full history of transactions of all the users in the world and forever; this is a big limitation of the original bitcoin design, and those are words of no less that Edward Snowden himself. Bitfreak, while on it, introduced other innovative concepts, like dynamic max block size, which considering the time, were very forward thinking. Now a lot of coins have dynamic block sizes, but none has employed a technology like mini-blockchain yet.”
2: What are the specific practical problems of XCN?
“XCN is a ‘better bitcoin’: its intended usage is day to day transactions, done in a simpler and lighter way. I can imagine a lot of uses for a full cryptocoin node which is also much lighter and faster: think IOT, embedded systems, etc.”
3: What are the technical advantages of XCN?
“Basically, a mini-blockchain is about keeping relevant data only. There is no need to know about the full history of coins back to the coinbase, like most coins do. You just need to know the current balances of the accounts. Mini-blockchain features a ‘balance sheet’, which is linked to the blockchain, and shared among all the nodes of the network. This, and other improvements, make the typical XCN data directory much smaller; it also makes the first synchronization much quicker: if you run a new XCN node now, after 4 years of running, it will take 1 hour or a little more.”
Micro transactions and messages
Thanks to the mini-blockchain scheme Cryptonite has superior support for micro-transactions and custom transaction messages attached to transactions. In Bitcoin and other altcoins where the full blockchain is required to synchronize with the network, small value transactions and transaction messages tend to be discouraged because they cause “blockchain bloat”.
Cryptonite is the first altcoin to feature withdrawal limits, allowing users to set a limit on how many coins they can send from an address in one block. This is useful because it helps to prevent double spending and increases confidence in low-confirmation transactions. If a merchant can see that the withdrawal limit on an address prevents it from being emptied in a small number of blocks they can have much more confidence in any transactions sent to them from that address, even without any confirmations at all. So the main advantage of withdrawal limits is that 0-confirmation transactions become safer in the right conditions.
Cryptonite features unmalleable transactions in order to avoid any repeat of such undesirable events and allow the transaction ID’s to be reliable. This is achieved by having the sender sign the txid and by ensuring the txid will always change when the contents of the transaction changes.
4: XCN community construction.
China and Thailand are our biggest markets. XCN was so popular in China and Thailand, as it was listed a few days after launch on both BTER and BTC38: they became very big markets and made daily volumes of up to 3000 BTC (June 2017). A lot of users from those countries are still holding XCN.
We are on Bitcointalk, Telegram, QQ, Discord, Twitter, instagram, Facebook and Youtube.
5: What is the current progress of the project?
We were badly hit by the Chinese cryptocurrency regulations of summer 2017, because our main exchanges were closed, and the related communities were in part disbanded. We’ve been working hard on reestablishing our market presence and rejoining our communities since then.
We also did technology improvements, and we continue to work on our wallet and related services, but we also want to capitalize on the original promise: we offer a better blockchain, and after more than 4 years we can say we delivered!
6: How does XCN break out in a bear market?
During this dramatic year of 2018, with enormous problems and price drops in all the cryptocoin spectrum, we had a chance to show that we are a stable currency. And we achieved this despite the most part of the community did not participate in the trades because, since we did not have an exchange platform, they decided to HOLD; and they did even though we were able to be more profitable than others to mine and trade, with a good position in the cryptocoin indexes.
Now we are listed on several platforms and the biggest is zg.top with USDT pair, which we believe, in this bear market, will bring us greater stability and value.
7: Project party can increase the problem by itself and promote the project. let me know your thought about it
1: How many peoples in your official telegram?
Around 100, But we want to mention we are on many groups including QQ, Discord, BTCtalk, twitter (1000 users), etc.
2: The major Developer.
Bitfreak and Pallas.
3: Application scenario of XCN
Given the qualities of XCN (scalability, quick an light transactions, low fees, etc.), we can truly be the real world coin everyone wanted bitcoin to be, but given its limitations, has never been. Paying for a coffee with Cryptonite is surely more convenient than with most other digital forms of payment.
4: What is the advantage than other coins?
We already mentioned scalability, quick transactions, security by multiple means, now let me add “ASIC and FPGA resistance”: about this topic, please refer to this article explaining the characteristics of Cryptonite proof of work algorithm:
5: Total quantity and Circulation quantity
725 000 000 XCN current circulation supply.
~2 billion XCN total amount aver 20 years.
6: The next exchange will the XCN been listed?
That will depend on how good zg.top will do 🙂 but we are confident that our partnership will bring good volume and price increase for our coin, and expand the community of both parties.
7:how much size of wallet? and the links of download? and others
Less than 1GB full blockchain with 5 years old.
Other sources And languages translations: