[ANN] XDT - Distributed Trust coin

[xdtcoin]

Distributed Trust coin

XDT - a novel cryptocurrency without miners or blocks and with a unique security mechanism. In XDT the risk of a double-spend is reduced by transferring coins via one or more random intermediate addresses of the network. As the probability of being selected to participate as an intermediary is proportional to the balance of the address, on average the most wealthy addresses bear the largest risk of double-spending but also stand to gain the most rewards from transaction fees.


Crowdsale halted due to problem identified with the XDT protocol

All XDT coins will be distributed to participants proportional to their contribution. There is no pre-sale, no pre-mine, no airdrops, etc. and no coins reserved for the XDT team. The total supply is planned to be 2^46 indivisible coins, and since there is no mining either, additional coins will never be created.

Estimated timeline for network launch

150 % bonus period: further details revealed in this thread
120 % bonus period: decision to launch the network, draft whitepaper
Before end of crowdsale: whitepaper 1.0
2018Q1: prototype implementation following draft technical spec
2018Q2: technical spec 1.0, GUI wallet under development
2018H2: GUI wallet 1.0, XDT network running in production


Feature comparison

Artificially limited maximum transactions / s?
No: XDT, XMR
Yes: BTC, LTC, ETH

Transactions validated by
XDT: sender, receiver and one (or more) random wallets
BTC, LTC, ETH, BCH, ...: Miners

Double-spend protection achieved by
XDT: coins received through random addresses of the network
BCT, LTC, ETH, BCH, ...: waiting for enough confirmations

Transaction fees
Yes: XDT, BTC, LTC, ETH


More info

Further details will be revealed in this thread. Please don't hesitate to post if you have any questions, comments, concerns, etc.

[xdtcoin]

reserved

[xdtcoin]

Crowdsale starts at the next BTC block!

[xdtcoin]

Here is a comparison of some features of XDT to popular cryptocurrencies:

Artificially limited maximum transactions / s?
No: XDT, XMR
Yes: BTC, LTC, ETH

Transactions validated by
XDT: sender, receiver and one (or more) random wallets
BTC, LTC, ETH, BCH, ...: Miners

Double-spend protection achieved by
XDT: coins received through random addresses of the network
BCT, LTC, ETH, BCH, ...: waiting for enough confirmations

Transaction fees
Yes: XDT, BTC, LTC, ETH

Comparisons of other features and additional cryptocurrencies to follow.

[turtledovestorm]

How will be the money, collected during the ICO be spent?

[lanmao]

need more detailed information. do you have a website? can you simply introduce the team? thanks

[xdtcoin]

How will be the money, collected during the ICO be spent?

Good question, thanks. That depends very much on the collected amount. As everyone has full time day jobs, an amount less than 1 BTC will just probably be held (hedl?). If the raised amount is 2-4x that, it will be possible to cut back on day job hours to spend more time on XDT, while spending the collected money on living expenses as needed. If the collected money is significantly larger than that it will be possible to focus fully on XDT and, for example, expand the development base with bounties for external developers. Even larger contributions would lead to more and more a professional approach with additional team members and dedicated responsibilities, etc.

[xdtcoin]

need more detailed information. do you have a website? can you simply introduce the team? thanks

Thanks, unfortunately XDT doesn't have a website at the moment. As you probably can guess from the previous answer, currently this is just a hobby since everyone has a full time job. The XDT idea is promising and very interesting but with the time currently available for development the priority is to present XDT to the community and see how many others agree. If there is sufficient agreement, in the form of contributions, then things can be taken to the next level. In any case, further details about XDT will be revealed while the first bonus period is ongoing and a draft of the whitepaper will be published some time before deciding whether to continue official development of XDT.

As for the team, it will most likely stay anonymous at least until there's a prototype implementation of the XDT network. The team has a science background, with one PhD in physics, and has been following the cryptocurrency scene since 2011.

[alex-nn]

Please launch Website and WhitePaper before starting crowdsale or nobody invest in Distributed Trust coin

[lanmao]

need more detailed information. do you have a website? can you simply introduce the team? thanks

Thanks, unfortunately XDT doesn't have a website at the moment. As you probably can guess from the previous answer, currently this is just a hobby since everyone has a full time job. The XDT idea is promising and very interesting but with the time currently available for development the priority is to present XDT to the community and see how many others agree. If there is sufficient agreement, in the form of contributions, then things can be taken to the next level. In any case, further details about XDT will be revealed while the first bonus period is ongoing and a draft of the whitepaper will be published some time before deciding whether to continue official development of XDT.

As for the team, it will most likely stay anonymous at least until there's a prototype implementation of the XDT network. The team has a science background, with one PhD in physics, and has been following the cryptocurrency scene since 2011.

Thank you for your respond.
i want to know that without miners or blocks, how does the coin produce? and can you provide a brief timeline?

[xdtcoin]

Please launch Website and WhitePaper before starting crowdsale or nobody invest in Distributed Trust coin

Perfectly understandable but hopefully the technology will speak for itself, stay tuned!

[xdtcoin]

Thank you for your respond.
i want to know that without miners or blocks, how does the coin produce? and can you provide a brief timeline?

Could you clarify what do you mean exactly by "produce" in this context? All coins will be created and distributed to contributers at network launch. The timeline currently looks like this:
150 % bonus period runs from BTC block 499000 to 500999 during which time further details will be revealed in this thread about XDT
120 % bonus period runs from block 501000 to 502999 with a decision to launch the network and a draft whitepaper
Crowdsale ends on BTC block 506000 and before that a 1.0 version of the whitepaper will be published, assuming the network will launch. If the network doesn't launch then all contributions will be returned, excluding the miner fee.