Algorithm X11
Block type Proof-of-Work
Coin name Xbits
Coin abbreviation XBT
Address letter X
Coin unit Xbits
RPC port 4621
P2P port 4622
Block reward 50 coins
Block halving 210000 blocks
Coin supply 21000000 coins
Masternode reward 50%
Masternode amount 1000 coins
Masternode confirmations 15
Coinbase maturity 20 blocks
Target spacing 5 minutes
Target timespan 10 minutes
Transaction confirmations 6 blocks
PrivateSend Basics
PrivateSend gives you true financial privacy by obscuring the origins of your funds. All the Xbits in your wallet is comprised of different "inputs" which you can think of as separate, discrete coins.
PrivateSend uses an innovative process to mix your inputs with the inputs of two other people, without having your coins ever leave your wallet. You retain control of your money at all times.
The PrivateSend process works like this:
PrivateSend begins by breaking your transaction inputs down into standard denominations. These denominations are 0.01 XBT, 0.1 XBT, 1 XBT and 10 XBT -- sort of like the paper money you use every day.
Your wallet then sends requests to specially configured software nodes on the network, called "masternodes." These masternodes are informed then that you are interested in mixing a certain denomination. No identifiable information is sent to the masternodes, so they never know "who" you are.
When two other people send similar messages, indicating that they wish to mix the same denomination, a mixing session begins. The masternode mixes up the inputs and instructs all three users' wallets to pay the now-transformed input back to themselves. Your wallet pays that denomination directly to itself, but in a different address (called a change address).
In order to fully obscure your funds, your wallet must repeat this process a number of times with each denomination. Each time the process is completed, it's called a "round." Each round of PrivateSend makes it exponentially more difficult to determine where your funds originated.
This mixing process happens in the background without any intervention on your part. When you wish to make a transaction, your funds will already be anonymized. No additional waiting is required.
IMPORTANT: Your wallet only contains 1000 of these "change addresses." Every time a mixing event happens, up to 9 of your addresses are used up. This means those 1000 addresses last for about 100 mixing events. When 900 of them are used, your wallet must create more addresses. It can only do this, however, if you have automatic backups enabled.
Consequently, users who have backups disabled will also have PrivateSend disabled.
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MASTERNODE PRESALE PRICE IS 0.07BTC - 10 MASTERNODES AVAILABLETo purchase a Masternode send 0.07 to following address: 3Arb8R1SNN1jjFgjyUFM7KRqC2X1FTgxKj and PM me with tx id. One person can buy more Masternodes than 1.
Exchanges soon after 10 masternodes are sold.
