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Author Topic: [ANN] [BXR] Bitxor Blockchain - New next-generation DEFI protocol  (Read 247 times)
bitxordev (OP)
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January 03, 2023, 07:15:44 PM
Last edit: January 03, 2023, 08:20:39 PM by bitxordev
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What is Bitxor?

Bitxor is a trustworthy and easy-to-use decentralized PoS (Proof of Stake) multi-layer mining blockchain that allows the integration of applications for all types of businesses and projects requiring scalability at a local and global level. Developed by Latin American talent, Bitxor is composed of highly integrated tools that bring together the best of the main existing Blockchain in the world.


Team

Bitxor comprises a multidisciplinary team of talented professionals from Latin America. As leaders of their companies: Kriptxor Corp (digital finance), Microsula S.A. (technology services), and Focus On Results (marketing and communication), they are supporting and protecting the CosmoSystem in its origins to safeguard its integrity and principles until it reaches its full maturity, which will be once an adequate number of nodes are in operation to guarantee its absolute decentralization.


The Bitxor brand

Bitxor's approach is to build a powerful brand with a coherent and well-structured image. Its strategy, based on its identity as a brand of integrity, proactive and visionary with the permanent mission of developing 100% decentralized financial tools, which is essential to create a fair and transparent economy allowing each individual to achieve complete financial independence and have more significant opportunities to improve their life.


Bitxor Core

The Bitxor protocol is based on Blockchain with high-performance multi-layer architecture. These are the first principles that influenced the development of Bitxor.
Bitxor supports both probabilistic and deterministic block completion. Under Probabilistic Finalization, the probability of any particular block being reversed declines as more and more blocks are added or chained together. While the probability may be very low, it is always non-zero.  

In contrast, the deterministic completions include a mechanism in the protocol allowing the setting of checkpoints that can never be reversed. This can potentially lead to profound reversals. However, it provides a stronger guarantee. In either case, users risk blocking reversals and transaction invalidation.

As part of a focus on the lack of confidence, the following features have been introduced:

  • Block headers can be synchronized without transaction data, while the chain allows integrity verification.
  • Transaction Merkle trees allow cryptographic proof of contention (or not) of transactions within blocks.
  • Receipts increase the transparency of indirectly triggered status changes.
  • Status proofs enable trustless verification of a specific status within the Blockchain.

In Bitxor, a single server executable can be customized by loading different add-ons and extensions, the first for transaction support and the second for functionality.

There are three main configurations (per network). However, more customized hybrid designs are possible by enabling or disabling specific extensions.

The three main configurations are:

  • Peer: These nodes are the network's core and create new blocks.
  • API: These nodes store data in a MongoDB database for easy querying and can be used in conjunction with a NodeJS REST server.
  • Dual: These nodes perform the functions of the Peer and API nodes.


A robust network generally has many peer nodes and enough API nodes to support incoming client requests. Furthermore, allowing the composition of nodes to vary dynamically according to current needs should result in an overall optimized network in terms of resources.
We are establishing the central block and transaction pipelines on the circuit breaker pattern and using parallel processing whenever possible; this allows high transaction rates per second over a typical blockchain protocol.

Bitxor allows high customization at both the network and single-node levels. However, the entire network configuration, specified in the config-network.properties, must be the same for all nodes. Somewhat the node-specific design may vary among all nodes in the same network, which can be changed in config-node.properties.

Bitxor has been designed to use an add-on/extension approach rather than supporting Turing-complete smart contracts.
While complete smart contracts may allow greater flexibility for the user, they are also more error-prone from the user's perspective. An add-on model limits the operations performed on a blockchain and consequently has a smaller strike surface. In addition, it is much easier to optimize the performance of a single set of processes rather than an unlimited set. These features allow Bitxor to achieve the high performance it was designed for.


How layers work

Bitxor Core has multiple layers, all of which have a specific degree of importance within the Core.
  • Layer 1: This is the first layer of Bitxor Core and is the basis of the entire Bitxor CosmoSystem. It contains the functionalities required for performing transactions, wallet generating, encryption of public keys to base32 wallets, and the modules for plugins and extensions of layers 2 and 3.
  • Layer 2: In Bitxor, the applications created in this layer are called "plugins”. Depending on how much the status of a transaction affects the Bitxor blocks, they can only be modified by consensus.
  • Layer 3: The modules created in this layer are named "extensions"; they serve as a connection interface to the Bitxor Core. These extensions can be modified, and new extensions can also be created, not affecting the chain and therefore do not require consensus.


BXR Coin

BXR is the native token of the Bitxor protocol, the basic unit of the Bitxor Blockchain.
BXR connects the entire Bitxor CosmoSystem, thus driving all transactions and applications across the Blockchain.

Initial Supply: 160,000,000 BXR
Maximum Supply: 800,000,000 BXR
Number of BXR created per block: 3 BXR

BXR Coin is up to 8 Decimal places dividable. Its basic unit is the XOR which corresponds to 0.00000001 BXR. For this reason, it is a versatile and multi-purpose coin.
BXR is designed for companies, businesses, and development projects embracing Bitxor Blockchain technology to use as a payment method for their products and services.

It can be adopted in both DEFI and regulated markets with regional and global scope.


Bitxor LSC-X

From the technical point of view, the Bitxor protocol is based on LSC-X (Logic Smart Contract Bitxor). It is an evolved multi-layer intelligent contract system, which, through its features with logical operators, allows the development of decentralized systems and structures in a more optimized, fast, and secure manner, minimizing programming errors and providing better stability to the whole system.

Several features have been added to the LSC-X, providing high flexibility and versatility while making it much more accessible and straightforward to run for anyone, even if you do not have programming skills. It has a code that integrates pre-established rules by the Core. This integrated global standard allows the creation of various digital assets to be completely functional and flawless, thus shielding and protecting the user.

In Bitxor's Logic Smart Contract, functions are controlled and managed by the Core itself, and the Bitxor Wallet is one of the resources that allow these digital assets to be created quickly and in a simple manner. This standard facilitates solving problems in a token's functioning without the need to re-create a smart contract. Furthermore, with the help of the Community, it can become scalable in the future to add new functions to a token that has already been created.


How to generate contracts

The system that supports the creation of Bitxor tokens is called Logic Smart Contract (LSC); the tokens created by Bitxor's LSC must comply with logical conditionals that determine the characteristics and functionalities of the token. It is important to emphasize that the functionalities of a token may be upgradeable, and new features may be added to support the Bitxor community. Still, they must be added in the second layer of the Core (token system); they should be in consensus and efficient regarding the new functionalities.

The wallet that creates the token is also the platform where the token shall be credited. Tokens are fixed assets that represent a set of multiple identical things which do not change. However, a token can also be a set of more specialized assets, such as rewards points, stocks, signatures, state flags, votes, or other currencies. Token specialization is achieved through the properties set during its creation. Once created, each token is allocated a unique identifier represented as a 64-bit unsigned integer. For example, Bitxor's native currency (BXR) has the token ID 0x3D1FE6EDC7F9611E in hexadecimal value.

Token Properties allowed in Bitxor LSC:
  • Divisibility: determines the number of decimals into which the token can be divided.
  • Initial supply: Indicates the number of initial tokens in circulation in absolute units.
  • Duration: Specifies the number of confirmed blocks for which the token is rented, token expiring or without expiration.
  • Mutable supply: Tokens supply can change at a later point in time.
  • Transferable: Tokens can be transferred between arbitrary accounts.
  • Restringible: The token's creator can set customized restrictions.
  • Revocable: Tokens can be revoked (i.e., reclaimed) by the token's creator.

These properties, as discussed above, may be upgraded by the community to meet their needs.


Creation fee

An account wishing to create a token must pay rental and transaction fees. After announcing a valid Defined Token Transaction, both fees will be deducted from the account balance.

By default, creating a token on the Bitxor public network has an initial cost of 1050 BXR (configured by the network through the TokenRentalFee property, as agreed.)


How Namespaces work

Namespaces are human-readable text strings that can be used instead of an address or token ID. They create a unique place on the chain for your project and your assets on the Blockchain.

Namespaces have the following properties.
  • Name: Namespaces work similarly to domains on the Internet. Creating a Namespace begins with choosing a name that will be used to refer to an account or asset. The name must be unique on the network and have a maximum length of 32 characters (the only characters allowed are a through z and 0 through 9).
  • Length: At the moment of Namespace registration, you must set the number of confirmed blocks you wish to rent. Currently, the public network establishes perpetual duration for Namespaces. However, the duration parameters may be modified by agreement by the network with the community's contribution.


Subnamespaces

On the Internet, a domain can have a subdomain. In addition, symbol namespaces can have subnamespaces to identify and organize assets.

In the public network, namespaces can have up to 1 level, i.e., only one Namespace; the Community may modify this option through agreement if more levels are desired.


Alias

The Namespace creator can link the Namespace to an account or token. This link can be editable, so the creator can unlink a previously established alias and link the Namespace to a different asset. The cost to detach a Namespace from a specific token is 1,000,000 BXR.

Alias transactions have the following restrictions:
  • An account or token can be bound to many namespaces, but a Namespace can only be bound to one account or token.
  • An account can assign a Namespace to any account that allows the reception of AddressAliasTransaction.
  • An account can only bind the alias to a token ID when this account is the token's creator.


Super Node / Voting Node Voting System

Bitxor provides fast reply times, even when network disconnections isolate some nodes. When connectivity is restored, the conflicts that may have arisen (network junctions) are solved through a Finalization Process. This process would require some nodes to vote periodically on which strings are valid according to their records. Blocks considered invalid are then reversed.

That is why voting nodes or super nodes are essential; they are the chain guides and provide immutability to the blocks. The process of closing a block is called Finalization.


Finalization

It is the process of making permanent changes in the blockchain ledger. Before blocks achieve Finalization, they may still require to be reverted whenever there is a network failure or crack. However, once blocks are finalized, they become immutable.

Finalization happens in rounds. During each round, a classification algorithm selects the accounts in charge of validating all blocks pending Finalization (Voting Nodes). If a proposed block matches an account's node records, the account issues a positive vote.

The block has been completed when more than 67% of the participating Super Nodes selected to vote issued positive votes. At that point, all transactions linked to the block are permanently recorded on the Blockchain.


Bitxor PoS Mining

The PoS (Proof of Stake) mining function, unlike the POW process, requires meager computing power, causing a low impact on the environment. The number of blocks a staker can mine will depend on the number of BXR Coin he has (the higher the number of BXR, the higher the mining capacity). However, suppose the user has a low number of BXR. In that case, he will also be able to make a delegated staking, which consists of transferring its mining capacity to an account with a higher power, thus increasing its chances of mining a block.

The consensus algorithm is the dynamic method by which nodes in the Bitxor Blockchain system reach an agreement and take decisions.

Bitxor uses the well-known Proof-of-Stake (PoS) consensus mechanism. However, it also supports Proof-of-Stake Plus (PoS+), an innovative modified version of those mentioned above.

In a basic PoS consensus algorithm, the creation of a new block on the Blockchain is stochastically assigned to a node based on a combination of factors related to the wealth of the node's owner exclusively.

The PoS+ mechanism not only takes into account the currencies at stake but also promotes the ecosystem's health by rewarding participants based on their activity.


BPS-X1 Standard

The Bitxor Protocol will incorporate first and second-layer standards for creating Token's, NFT's, NameSpace and MetaData. These standards, which are currently being developed, are called BPS-X1 (Bitxor Protocol Standard - First Generation); they are designed to meet the high standards required by traders and liquidity pools (financial groups, exchanges, stock exchanges) for the integration of these assets into their financial platforms.


Contributor Rewards Policy

Bitxor is an open-source project with many ways to contribute. From writing tutorials or blog posts, improving documentation, submitting bug reports and function requests, writing codes that can be integrated into the Bitxor Core, developing or integrating DAPPS projects, generating content for social networks, designing, programming websites, and even supporting other contributors to improve their projects proposals. In exchange for doing this work, Bitxor has defined a reward policy for programmers, developers, advertisers, influencers, and anyone who wants to contribute with their knowledge and work.

Our rewards policy aims to encourage the inclusion of new contributors and to help them to permanently keep playing that vital role in the development and consolidation of the Bitxor CosmoSystem.


Financial strategy

We have developed mechanisms within our financial structure to capitalize on our Blockchain.
  • Start-Stake:
    The Bitxor Start-Stake is the beginning (initial sale) of the Blockchain start-up; it is a financial support pillar for the development of Bitxor CosmoSystem.
    Start-Stake impacts the Blockchain with several positive features and, in its initial phase, starts the first Nodes and Stake of the Blockchain to ensure mining power and transaction effectiveness.
    Its built-in system of gradual increase over its sales enables the price of BXR Coin to increase through demand, thus benefitting the first buyers of the coin: investors, mining nodes, and stakers.
  • Control-Stake:
    Decentralized mechanism designed to protect the Bitxor CosmoCommunity from the attacks and manipulation carried out by large financial groups. This process will be implemented through an oversight committee established by the Super Voting Nodes.
    This mechanism implies that from each mined block, 2% is allocated to a backup fund intended to capitalize, increase and secure the Blockchain. The Control-Stake (2%) can. It is always managed by consensus (voting). It can establish a percentage with profits from the sale of the BXR obtained for the private sector (exchanges) and public sale (community). It can even give way for future investments in assets, commercial backing cryptocurrencies, and Fiat liquidity systems to support  Bitxor CosmoSystem, thus providing stability to all bitxornauts.
    The assets that form this backup will be held in custody by the Super Voting Nodes in storage-topped wallets under multiple signatures and different wallets.
    Synthetics:
    In addition to the possibility of investing in long-term BXR Coin (hold) or trading, Bitxor has implemented a model allowing the backing of capital with the leading cryptocurrencies and stablecoins of most significant relevance in the world of digital finance, which includes the following synthetic tokens: USDT(X1), EURT(X1), MXNT(X1), BTC(X1), ETH(X1), MXNT(X1), ETH(X1).
    Upon their acquisition, these synthetic tokens, exclusive of the Bitxor network (BPS-X1), are backed in their official currencies under their own network. Example: Tether (Omni), ETH (ERC20) provides safeguard, security, and permanent availability of capital to operate in the crypto-financial markets.
  • Swap:
    Bitxor community created a decentralized platform to exchange network assets (BPS-X1). This structure will support traders, like API's reference, in the prices of tokens created in the Bitxor Blockchain network.



qzl9899
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January 04, 2023, 07:47:04 AM
 #2

The cost of creating a token is 1050BXR - even at your current selling price, this is close to 90u. How many people do you think are willing to use your network if it is so expensive to just create a token? Also, the cost of separating the namespace from a specific token is 1 million BXR, about 80000 u, do you think this is possible?
bitxordev (OP)
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January 04, 2023, 06:04:07 PM
 #3

Hi qzl9899


Thank you for your opinion. Prices have been set up according to a policy that seeks to avoid the proliferation of fraudulent or scam tokens. Furthermore, there are alternatives for its financing, such as our rewards policy, which through collaboration allows to obtain BXR as payment for services rendered (https://forum.bitxor.org/public/d/31-developers-rewards-policy). So far, several tokens have been created and none of their creators have complained about the price. However, taking into account the characteristics and requirements of its users, the prices you refer to can always be reformulated to make them more accessible to people with fewer resources, if the Community in consensus decides so.
In terms of prices, how much would you propose the amounts for token creation to be?
On the other hand, we would like you to give a general opinion about Bitxor Blockchain and if you have other suggestions to help improve the network, they will be very welcome.
And of course, you are invited to join the community.
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January 05, 2023, 02:02:43 AM
 #4

Hello, I have joined your discord, but I find it seems very blank. To be honest, I love your project very much. At least it is very serious and pure. I want to be your employee, especially in East Asia.
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January 05, 2023, 05:08:19 PM
 #5


Nice project, I like your explorer, will be following your progress.
 

███ STAKING ████████████████ ANTARES CODES █████████████████ MASTERNODE SHARING ███
███ NFT MARKETPLACE ██████ CRYPTO MOST LUCRATIVE AFFILIATE PROGRAM █████ DAILY FAUCET ███
███ BLOCKCHAIN DOMAIN █████████████████ ONE-CLICK TOKEN CREATOR ███████████████████ METAVERSE ███
bitxordev (OP)
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January 06, 2023, 03:11:53 PM
Last edit: January 06, 2023, 03:58:26 PM by bitxordev
 #6

Hi qzl9899

We need to understand that because it is a new project there is a lot to do and the support of programmers, developers and communicators is required.
In which of these areas do you think you could join the Community?
I leave you the links so you can evaluate the reward amounts for the contributors.
Let's stay in touch.
https://forum.bitxor.org/public/d/29-programmers-rewards-policy
bitxordev (OP)
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January 06, 2023, 04:09:03 PM
 #7

Antaresproject
Thanks for your comment! We are very happy to have interested people like you who want to see Bitxor Blockchain thrive. We are working hard to develop our blockchain to be a better version of itself. Don't hesitate to follow us to get periodic updates on what we're doing!
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February 21, 2023, 05:40:54 PM
 #8

We communicate that Bitxor Blockchain will return to the Genesis Blockchain https://explorer.bitxor.org/blocks/1 90% of the BXR that were not sold in its Start-Stake (private sale). This figure amounts to 84,458,432 BXR. The completed transaction can be validated in the Start-Stake public wallet.

The remaining 10% (9,384,270 BXR) that will be kept in the public wallet https://explorer.bitxor.org/accounts/BXRCFF6RIWXAWEZ6GYEZZTJSUCR7LDITUEVAIDI will be destined to the payment of benefits and rewards for programmers, developers, nodes, influencers and anyone who contributes to the development or improvements of the Bitxor protocol.

The rationale for burning these BXRs is a commitment to the transparency of the Bitxor Blockchain to its Community.
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