[ANNOUNCING] XAP coin - Open-Source the Internet - API Marketplace

[fordlincoln]

XAP Coin is now released - go to www.buyxap.com
- designed to incentivize developers for their APIs
- capable of powering an open-source decentralized marketplace
- will cache and store API network data using Maidsafe's SAFE Network

The official announcement is coming out on Monday, June 16th is out today and we are bringing you this first as we want the Bitcoin community to be involved! Please take a look over our project and get our own XAP coins on June 18th when it launches to the public!

The announcement went out to the press today check out http://www.reddit.com/r/APInetwork/comments/28h095/official_press_release_for_api_network/


Advantages:
- No ASIC/Scrypt mining
- Use the same Bitcoin wallet
- Be rewarded for developing your own API

How does it work?
- new XAP coins are released when nodes provide a service to the network
- XAP coins are required to access the API network services
- XAP coins can be earned by sharing your private APIs

Why XAP coin?
- Because we believe it is possible to completely decentralize the personal computing environment
- The world needs an API Marketplace to help end users integrate applications across all platforms
- An incentivized token system will drive the growth of an open-source environment
- The API Network intends to use the SAFE Network to host its APIs and other content in a decentralized way and thus produce these SAFE coins which will be used to obtain APICoins on the Master Protocol Decentralized Exchange. These purchased API Coins (XAP) will be sent on a regular basis to the holders of API Coins (XAP).

Get XAP coin
Starting on June 18th 2014 at 11 AM U.S. Central time, anyone sending Bitcoins to the "API Address" is recognized by the protocol as purchasing API Coins (XAP).

- The first 500 XBT (BTC) sent to the "API Address" will generate 1 API Coin (XAP) for each 1.6 mXBT (millibits / 1/1,000th of a bitcoin).

- The next 1,000 XBT (BTC) sent to the "API Address" will generate 1 API Coin (XAP) for each 2.13 mXBT (millibits / 1/1,000th of a bitcoin).

- The next 2,000 XBT (BTC) sent to the "API Address" will generate 1 API Coin (XAP) for each 2.66 mXBT (millibits / 1/1,000th of a bitcoin).

- The last 4,692 XBT (BTC) sent to the "API Address" will generate 1 API Coin (XAP) for each 3.2 mXBT (millibits / 1/1,000th of a bitcoin).

The details of the pricing of the API Coins (XAP) during the crowdsale event can be found on this Google Doc: https://docs.google.com/spreadsheets/d/1Jo58sfAfXJ05ZUylzf9dGDbJ2ngPlDbCZ2B6FSP_xBc/edit?usp=sharing

Attempts to send funds to the API "Address" on or after 11 AM (central time) July 18th 2014 (as determined by bitcoin block chain records), will not be considered APICoins purchases and shall be sent back to the originating Bitcoin wallets in the form of Bitcoin minus transaction fees.

The total number of APIcoins generated during the crowdsale shall be limited to 3,000,000. Any APIcoins generated after this point shall be invalid and the bitcoin sent for their generate returned to the sender.

6/17 - Live broadcast with the founders of API Network: https://www.youtube.com/watch?v=EKgb61yQNHs&feature=share]6/17 - Live broadcast with the founders of API Network: https://www.youtube.com/watch?v=EKgb61yQNHs&feature=share

Bitcoin address for XAP coin: https://blockchain.info/address/12Stz3hoF1sY9J12GyMhsAGBa16vWrmufG

Want to know more?

The Git for opensourcing is here: https://github.com/APINetwork/personal-data-module
Check out the website at buyxap.com
Read the whitepaper and details about the protocol at https://github.com/APINetwork/ProtocolSpec
Visit the API Network at http://www.apinetwork.co/
Stay updated by joining our Developer group here: https://plus.google.com/u/0/communities/116050453698554265785

June 15th - due to overwhelming response, please see the below details:
Use of the XBT (BTC) from the Crowdsale Event:

-Buy the intellectual property and codebase to jump start the development of the API Network from Engine Inc. (website www.Engine.co) related to API and IMAP interfaces and then open source that code to the API community. Cost 900 XBT (BTC) and 2,000,000 API Coins (XAP) to be generated at the end of the crowdsale event.

-Buy additional intellectual property and codebase related to Exchange and other common data standards and open soure it the API community.

-Buy crypto currency in the protocols that API Network is built on top of. For example after the purchase of intellecual property and code from API services as described above, 25% of the remaining XBT (BTC) collcected during crowdsale will be used to puchase MSC, SAFE, and any other digital token that it functions on top of in order for the API Network to hold a stake in the platforms it is built on top of. Thus holding a mix of XBT (BTC), MSC and SAFE provides the API Network with a longterm stake in the future of these protocols

-Engage core developers to work full time to impliment the API Network protocol into a functional client. The Role Based Bounty system will be engaged to accomplish this.

-Engage community members in bounties and challenges build up the number and type of APIs available on the API Network.

June 18 - Official Press Release statement:
Official press release went out today:
http://www.reddit.com/r/APInetwork/


API Network Crowdsale to Advance Plug and Play API Marketplace Developers of the API Network (http://www.APINetwork.co), a plug-and-play, open source API marketplace, today announced that the API Network will be launching its crowdsale of digital tokens (known as XAP) this Wednesday June 18th 2014.

Austin, TX (PRWEB) June 18, 2014 -- The API Network empowers developers to expand the functionality of their applications without the need to repetitively learn different proprietary APIs. Beginning at 11:00 A.M. CST on June 18th, the API Network will launch API Coin (XAP). XAP will be the token in which the API Network marketplace transacts. The digital tokens will be issued using the Master Protocol, a secure layer built on top of Bitcoin that enables the creation of smart properties. A total of 3 million XAP tokens will be generated during the crowdsale which represents 30 percent of 10 million tokens total that will ever be issued. XAP will be released in stages based on volume, rewarding early participants with a significantly lower price for XAP.

Web service owners are incentivized to connect their APIs to the API Network in return for compensation in API Coins (XAP) for calls made to their web service APIs. Developers pick and choose APIs from the API Network marketplace as building blocks to their own applications. End-users begin playing with those applications and XAP are then rewarded to the web service owners bringing the API Network full circle.
Curtis Lacy, the API Network’s lead architect presents a bold mission statement. "The goal of the API Network is to take all the APIs in the world, and provide a universal mechanism for querying them. APICoin (XAP) will provide a transparent and distributed way to compensate developers and service providers for their effort."

Curtis has served the past two years as Engine, Inc.’s Chief Technology Officer and has led development on several crypto projects backed by the BitAngels Network.

Engine, Inc. (http://engine.co) is one of the first web services to plug in with the API Network’s marketplace. Engine’s API makes it possible for future applications to read, organize, and search all of an end-user’s messages between Gmail, Facebook, Linkedin, and 24 other platforms.

For more information, please visit API Network’s website at http://apinetwork.co or e-mail info(at)apinetwork(dot)co.

[Italian Technology]

Can you explain better how the system works, from what I read on the white I can only buy XAP coin... it that right?

[Acidyo]

Can you explain better how the system works, from what I read on the white I can only buy XAP coin... it that right?

Indeed, right now you are almost just telling us to go buy the coin without much information...

[blackhatzw]

looking forward to more information.

[lordoliver]

looking forward to more information.

why don't you just dig in their website?

[blackhatzw]

Safecoin will launch on September 2014 and this coin will use safecoin to store data and beta test will launch on July, it don't make sense.

[blackhatzw]

looking forward to more information.

why don't you just dig in their website?

I am doing it now, generally speaking, main information will be on BTT as a brief.

[blackhatzw]

can you share the client before crowd sale.

[rubberpool]

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[mishax1]

Get XAP coin
- On June 18th starting at 11AM Central go here: www.buyxap.com
- Use Bitcoin to purchase your XAP coins
- Or pay with Mastercoin, the protocol used to create it

Could you explain that please ?

[fordlincoln]

Can you explain better how the system works, from what I read on the white I can only buy XAP coin... it that right?

Thanks for the question! Currently XAP is only available through the crowdsale, once the system is released from Beta - XAP coin holders will be able to access the API Network to pick and choose which API they want to use i.e. if you design a better Facebook API then users will choose your offering, and you will get paid in XAP coin.

The ways to earn XAP coin are modeled after the Maidsafe SAFE's network, where nodes who provide a service to the API Network will be rewarded based on the number of API call/pull requests.

The only way to obtain XAP coin is:
- earn them
- buy them at the crowdsale starting June 18th
 

[poon4]

how to buy?IPO?scam!!!

[fordlincoln]

can you share the client before crowd sale.

Hey thanks for the questions and feedback, the API Network will be one of the first projects to launch on the SAFE network from Maidsafe. The client is currently in development and we hope to release it very soon after the Beta.

If you would like to join our discussions about the development and release, please let us know by posting your interest here:
https://groups.google.com/forum/#!forum/apinetworkdev
or emailing apinetworkdev@googlegroups.com

[fordlincoln]

how to buy?IPO?scam!!!

Thanks for being the first to ask this, API Network is not a scam - its based on a registered company who has proprietary technology, they are going to open source this technology as the first phase of the API Network platform.

XAP coins are not a IPO, they can be earned through a Proof of Resource algorithm similar to the one used in the Maidsafe network.

Currently, the only way to obtain XAP is by waiting until the network is finished its Beta in the next year (2015) or purchasing XAP coins now to be apart of seeding the network

[fordlincoln]

Get XAP coin
- On June 18th starting at 11AM Central go here: www.buyxap.com
- Use Bitcoin to purchase your XAP coins
- Or pay with Mastercoin, the protocol used to create it

Could you explain that please ?

Excellent question and thanks for asking this, XAP coin is modeled after the Safecoin - the token used to transact value across the Maidsafe network.

- The API Network may well sit on top of the SAFE Network when it is launches to store and cache API data
- Safecoin/Maidsafecoin was created on the Bitcoin network using the Master Protocol from Maidsafe
- XAP coin will be using the same open-source technology
- all transactions will be recorded in the Bitcoin blockchain, viewable on sites like blockchain.info
- XAP coins can be used with BitcoinQT or web wallets like blockchain.info

[blackhatzw]

how to buy?IPO?scam!!!

Thanks for being the first to ask this, API Network is not a scam - its based on a registered company who has proprietary technology, they are going to open source this technology as the first phase of the API Network platform.

XAP coins are not a IPO, they can be earned through a Proof of Resource algorithm similar to the one used in the Maidsafe network.

Currently, the only way to obtain XAP is by waiting until the network is finished its Beta in the next year (2015) or purchasing XAP coins now to be apart of seeding the network

Are you convenient share the registered company information, we need evidence to prove this is not a scam then we can buy some XAP coins.

[username here]

wtf is this shit?  This doesn't make any sense, what does this mean?  How does one make money?  This is literally the less transparent IPO ever.

[fordlincoln]

how to buy?IPO?scam!!!

Thanks for being the first to ask this, API Network is not a scam - its based on a registered company who has proprietary technology, they are going to open source this technology as the first phase of the API Network platform.

XAP coins are not a IPO, they can be earned through a Proof of Resource algorithm similar to the one used in the Maidsafe network.

Currently, the only way to obtain XAP is by waiting until the network is finished its Beta in the next year (2015) or purchasing XAP coins now to be apart of seeding the network

Are you convenient share the registered company information, we need evidence to prove this is not a scam then we can buy some XAP coins.

Thanks for the question - we look to be transparent and appreciate your feedback. The XAP coin is the forerunner to open-sourcing the technology behind http://Engine.co.

The release of XAP coins will crowdsource resources to build the API Network, in effect laying the infrastructure for decentralizing applications.  This layer will enable a marketplace of APIs.

[yzhi]

he only way to obtain XAP is by waiting until the network is finished its Beta in the next year？

[fordlincoln]

wtf is this shit?  This doesn't make any sense, what does this mean?  How does one make money?  This is literally the less transparent IPO ever.

Hey there and thanks for the message, I appreciate your honesty. To help clarify, one is able to make money by following these steps:
1. Participate in the crowdsale starting June 18th at 11 Central using Bitcoin or Mastercoin to obtain XAP coins
2. Trade or Use XAP Coins

Its value and quantity are discussed in detail here: www.buyxap.com

Hopefully this helps with the confusion, and lastly this is certainly not an IPO as we are not issuing securities.

We will only be releasing 3M of the tokens, the remaining coins will be awarded according to the data in slide 6
https://docs.google.com/a/distributed.buzz/file/d/0Bw_D-1wK1JG_SWNpa3dCV0NoU1U/image?pagenumber=7&w=138