[NEW XBY ANN] XTRABYTES - THE BLOCKCHAIN EVOLUTION CONTINUES

[Delphinus]

Looks nice - does it work same?

I've only played around with the Android version (with limited functionality) which was released as part of the testnet. That worked pretty well though 

[lukikato]

XTRABYTES is a very good and innovative project, a project that has a detailed explanation and a good concept and has a clear purpose. I love this project

[Artyhardy]

Damn how nice the X-Cite Wallet looks like. Really curious to see first testnet results. Keep up the good work guys!

[InTheSameBoat]

Does this project have a set date for the mainnet launch?

[kesany]

looks like a very promising coin

[kthq426]

Withdraw fee still 50 xby on c-cex

[VALTER 1017]

 only for some reason the volume of trade on exchanges is constantly decreasing

[smokim87]

Withdraw fee still 50 xby on c-cex

They must still be on vacation lol...haven't updated the wallet. Meh shitty exchange anyways, Blacklisted it on my firewall 

[fishfishfish313]

Does this project have a set date for the mainnet launch?

No set date at this time. But you are more than welcome to join us in Discord for the 2nd Coordinated Network Strike Event.  

http://join.xtrabytes.chat/

We have a link for assistance if you wish to participate:

https://testnet.xtrabytes.global/

After the first network spamming event, there was an impromptu Q and A session on voice chat in the Discord.   Join us guys!!!

[fishfishfish313]

January 24th - Results of first coordinated stress-test in testnet #3


XTRABYTES wants to thank all of the testnet #3 participants for their time and effort. We had a great time meeting many of you, chatting up a storm, and conducting a fantastic testnet. So let’s get right to the details!

Steps taken prior to testnet

An important distinction must be made between our results from January 24th’s coordinated strike and Testnet #2 conducted last year. But before moving forward, let us explain the two options our developers were faced with before commencing the event:

Use the sendmany() command for transactions
Use the tools provided in the testnet wallet for transactions

We wanted to stress-test our network, therefore the sendmany() command was not used. In short, sendmany() creates 1 transaction with however many addresses you insert as total outputs. This process was used in testnet #2. These outputs are still processed by the network as they deliver the specified amounts to the respective addresses, and are perceived as transactions in essence. However, this is effectively just a way to show high numbers without simulating a real-world environment. We have therefore opted to test using the tools instead. These numbers can unfortunately not be compared to testnet #2 as they are completely different. Therefore, we will use both the sendmany() and the tools on our next coordinated stress-test on Saturday, January 27th. Currently, there is a lot of confusion regarding these numbers and differences in transactions, and we hope to be able to give a clear insight on what the actual difference is in a separate article.

Details about the wallet & the old chain

Our current testnet wallet utilizes a lot of the Bitcoin clone code. This code is outdated with a lot of disadvantages, effectively not designed for high throughputs, as we have all witnessed. First, let us address a few basics:

For the testwallet, a PoW factor (mining) was still implemented to have a healthy supply of circulating XBY. Aside from that, the old code was always relying on Proof-of-Work (PoW), these code parts have been removed and have been replaced by the Proof-of-Signature (PoSign) code. This means that no mining or staking process is needed and nodes can sign off on the transactions. Further details will become available with the patent. We are held back by this old code because it has severe limitations, most importantly:

Block creation time: The block creation times in the old code are variable, with a minimum of 60 seconds per block. This value was implemented to prevent e.g. orphan blocks and chain splitting, acting as an additional security measurement.
The old code does not contain the core parts of the code, which are the VITALS and PULSE systems. This means that we are unable to ping the other nodes in the network to sign off on transactions, leading to slow block creations.
All transactions are stored in the wallet.dat file, causing a high amount of disk transactions and fragmentation of the wallet.

Results from testnet

The Bitcoin protocol runs at 2 - 7 transactions/second. By simply changing the code to run off the PoSign algorithm, we were able to increase these numbers to more than double, reaching more than 23 transactions/second, proving that the new algorithm is indeed more efficient than Bitcoin’s. This reassures us that the ability of the technology with all its components can indeed reach the desired tps figure of our marketed 10.000+ transactions/second. Remember that these numbers cannot be compared to our previous testnet, as we used different spamming tools. With this stress-test we have confirmed the limits of this old protocol, and it has provided us with more details to work with.

For our second coordinated strike, we will utilize both tools available, starting with a sendmany(). After finishing round one we will once again use the provided tools to check a more real-life environment.

Closing

Again, we want to send a massive thanks to the XTRABYTES community! We hope you (and your friends and family) will help us again for our next coordinated testnet event on:

Saturday, January 27th @ 21:00 GMT+0

Best,

The XTRABYTES Team

[CCRevolution]

Update for Patents

In an effort to help the XTRABYTES community stay up to date with our patent process, we have decided to share our current progress with you all! 

For those of you who feel we are not moving fast enough, we are happy to inform you that quality and protection are the top priorities, not speed. XTRABYTES is a long term project and we always have and always will ensure that we do what is best for the long term vision we have.

During the last several days, I have met our patent lawyers on 2 separate occasions. The first meeting was January 17th and was intended to evaluate the law firm, which also offered them the opportunity to evaluate us. The second meeting was on the 23rd, when the initial tech discussions took place and the retainer was paid.

The law firm (which we will not disclose) conducted initial research on the XTRABYTES project after our first meeting and during the second meeting revealed they are very happy to work with us on this patenting process.

We did not get into full disclosure during the second meeting but upon providing basic details, the law firm was extremely impressed and excited to be working with us. Future meetings will include both Borzalom and CCRevolution and will include finalizing all the information the law firm needs in order to complete the patenting process, which will lead us to the highly discussed "patent pending" status.

Please do not assume times and dates, nor is it practical to try to dictate how long this should be taking us. We always work within our available time frames and this also includes availability of the lawyers we are working with.

Thank you all for your dedication and please continue to help the new community members gain a full understanding of the great things we are doing here at XTRABYTES Ltd. 

The XTRABYTES Team

[moneyball]

thanks for the update!

[jaimepenag]

Very nice explanation, I just invested in this coin, the price is still low , good community group, nice project. So I will keep close to the development of this project.

[Sobogunkenny]

Great update. The project is under-valued now........ I look forward to the full tech in coming months( not minding even year/s)

Good one.

[frank.jaeger]

Thanks for the update

[thendzor]

@CCR
I read that you are going to get US and International patent.
Could you tell me, if you guys will wait for international "patent pending status" untill release a tech?

[kthq426]

Hello, I have invested in this project since April 2017, the technology around XBY is great.

with the listing on Bittrex and the decrease of the total supply and the launch of the product is what one can claim a price of 100 $ the token towards the end 2018 ?! if you think it's exaggerated I invite you to share your forecasts for 2018 end

[fishfishfish313]

Patent Progress Announcement also on our community forum:

https://community.xtrabytes.global/threads/update-for-patents.533/

[ayasemoon789]

Patent Progress Announcement also on our community forum:

https://community.xtrabytes.global/threads/update-for-patents.533/

If not publicized to everyone, everyone thought the team did not act, but in fact, the team has been doing things, a very pragmatic team, continue to support

[fishfishfish313]

For anyone that is going to participate in the network test today, here are a couple articles that should help.

https://xtrabytes.zendesk.com/hc/en-us/articles/360000204112-Testnet-3-Client-Setup

https://xtrabytes.zendesk.com/hc/en-us/articles/360000326192-How-to-reduce-wallet-bloat

https://xtrabytes.zendesk.com/hc/en-us/articles/360000332971-How-to-use-the-sendmany-script