MINING STARTS MONDAY 6/7/2021 13:00 PST
XGT is a open source, 4th Epoch blockchain, built to facilitate
- Mining a finite supply of XGT coins, on the same supply schedule as BTC
- Executing smart contracts on the XGTVM, without burning XGT
(A) and (B) are generally incompatible in all prior blockchains because (B) requires a rate limiting system to prevent a decentralized merkle ledger being overwhelmed by bad actors (normally accomplished through gas costs). XGT overcomes this with the novel concept of Energy - with each XGT coin having a capacity of Energy which refills over time.
XGT uses gossip protocols and modern storage extensions to make significant improvements to memory, storage and network performance. It is intended to be mined on ASIC hardware to allow for efficient block generation, and facilitate pools of miners.
XGT is designed to be maximally open and easily decentralized. Our team has focussed heavily on developer - as - a - user, with several client libraries already implemented.
Alongside XGT, the XGTVM and the client libraries, we are also near to releasing HLX (an XGTVM bytecode emitting language, written in Ruby) and Lucidity, a new XGTVM bytecode emitting language written in typescript. Both HLX and Lucidity can be configured to emit the Ethereum subset of bytecode.
In terms of Supply technology, we have adopted the supply schedule of BTC as closely as possible while having the performance profile required for building enormous, long term applications. XGT is explicitly designed to have a stock-to-flow schedule superior to gold, as we believe this is one of the critical factors driving cryptocurrency value.
In order to have the same supply schedule, the necessarily extant supply of ~18,700,000 tokens at genesis must be distributed in an egalitarian manner, and will all be sold publicly by an offshore company.
RationaleWe believe that sound money and robust programmability can co-exist in the same blockchain. We believe that cryptocurrencies must be free of insiders, and that removing all forms of centralization, from mining, development, economic and dApp development can and must be done for network and chain security. Any move towards centralization, such as Proof of Stake, most alternatives to Nakamoto Consensus, economic hoarding by companies or other insiders, poses systemic threats to network security, and hence fundamentally threatens participants in the network.
Even Satoshi Nakamoto poses a threat to BTC - were their holdings of BTC to become active, it would pose a massive threat to the stability of BTC’s store of value properties.
System OverviewPoW Algorithm: SHA-256
Max Supply: 21,000,000 XGT
Divisions of XGT: 100,000,000 (G)
Block reward: 6.25 every 10 minutes
Difficulty: Adjusted every 2016 blocks
Halvings: Targeted every 4 years, targeted to halve in harmony with BTC
Features- Fixed & finite token supply
- Offline wallet creation
- XGT Virtual Machine, supporting the Ethereum VM opcodes and custom extensions for
- future performance optimizations
- Non-token burning fuel used for smart contract implementation
- Implicit support for descendant tokens (XGT Token Trees)
- Flexible general purpose data storage on-ledger
Donations for developmentBTC:
1K12Gt7AFCEKbiVcAgUUwBABPzJJR2vtjwMinersLinkageContact usDiscord -
https://discord.gg/UTGAtFTv4aThe TeamXGT’s Engineering Team is
- Robert Day ⇋ Architecture, Protocol & Inventor
- Roger Jungemann ⇋ Lead C++ Engineer
- Liam Noroian ⇋ C++ Engineer
And we’re hiring engineers with C++ or Ruby/Python/Dart experience.
