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Author Topic: Let's learn about XC, And why it's the Future of Crypto "currencies"  (Read 5098 times)
dadon
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August 10, 2014, 10:49:48 PM
 #1

Let's learn about XC and why it blows it's competitors including BTC out of the water hands down...( this was mostly copied from the XC website because it explains it best)

Total coins:
5.5 Million
Premine: 125k
Block Times: 90 Seconds
POS interest: 3.33% per year
Min stake time: 8 hours
Max Stake time: 30 Days

TECHNOLOGY

The XC network is made up of two parts: (1) the standard XC network, made up of computers running the XC App, and (2) the anonymous XC network, which is run by XC Nodes.  All apps that are open and connected to the network while holding coins are a part of the standard XC network.  This network is very similar to what other cryptocurrencies currently use.

 The XC anonymous network, on the other hand, is something entirely different.  It can be accessed from any XC App, but if a user designates a transaction to be sent anonymously, it is processed by the XC Nodes which make up the anonymizing portion of the network.  Any XC App can be set up to run as an XC Node, as long as it meets certain criteria

no bloat

XC was designed from the ground up to be compatible with mobile devices. Currently, there are several projects that have an anonymizing strategy that results in an unworkable blockchain bloat problem, which will only be compounded if they are ever introduced to mobile platforms.  Technologies like ring signatures and zero-knowledge proofs fall into this category and currently lack a way of avoiding this major setback.  XCurrency is able to use standard transactions, but multi-path then achieves an extremely high level of privacy combined with a high degree of prunability.  This allows XC to avoid blockchain bloat, even with full mobile integration.

decentralized

Because every XC App can function as an XC Node, this allows XC to avoid what Bitcoin core developer Gregory Maxwell has recently called a security “chokepoint” in some other coins’ use of semi-centralized nodes to forward transactions.  Unlike most other anonymous strategies, XC avoids the need to hold a very large amount of coins in order for an XC Node to function.  This is made possible due to the small, random transaction sizes of XC’s multi-path architecture.  The smaller capital requirement to run an XC Node benefits the XC network by allowing more XC Nodes to exist, increasing the overall efficiency and effectiveness of the anonymous network.

network security

XC uses multi-sig and end-to-end message encryption. This solution improves upon the more common practice of simply forwarding transactions, which can be problematic because malicious actors can steal transactions instead of forwarding them.  Another issue resolved by the XC approach is XC Nodes cannot snoop on the broadcasting system and publish the identities of senders and receivers.  This further adds to XC's security.

not just for payments

From the onset, XC was designed to take advantage of Blockchain 2.0 architecture. This makes implementations such as secure messaging, secure chatting, and decentralized cloud storage possible. XC’s comprehensive approach to incorporating current and trending technologies provides a stable platform on which to implement exciting new ideas and features in the future. The XC community has already seen evidence of this forward planning in the efficiency with which changes can be made.

 XC was built for the future. While it successfully implements the imperative state of the art technologies that are expected of a cryptocurrency today, the foundation has been laid for even bigger things to come.

Near future (Coming months all of this will be implemented Most probably by the end of the year, Brace yourselves.)

XC Mobile

Currently in progress is the fully featured XC mobile wallet/app.  This app for smartphones will be made available for both iOS and Android operating systems.  Users will be able to earn interest on the go, made possible thanks to XC’s adaptive design.  XC is also working on the technology to allow the purchase of XCurrency directly through the mobile app – this will add ease-of-use for those with less tech knowledge, and will make reloading with XCurrency easier than ever.

Decentralized Cloud Storage

The incorporation of Blockchain 2.0 architecture into the XC framework allows for a broad range of future developments.  One area being looked into by the XC team is the use of the XC blockchain for decentralized cloud storage.  This storage could be utilized by individuals, businesses, or even political campaigns.  The ability to safely store and transfer important documents, without fear of disclosure to third parties, is something that a diverse group of people could benefit from.  XC is taking steps to make this feature a reality.

Payment Networks

As the XCurrency base is further developed, adding XCurrency to an existing payment network, such as the Visa network, will be a number one priority.  Imagine XC being as easy to use as a credit card, but without the need for the actual card, since XC will be fully functional on any mobile device.  This integration into any one of the larger payment networks will allow XC to be utilized at millions of point of sale locations across the globe.  It will also open the door for utilization with ATM’s, otherwise known as cash machines in some countries.  Combined with the ability to reload your mobile app with XCurrency at the click of a button, this will be the premier step toward bringing XC before the masses as a usable, functional, flexible, and robust currency alternative.

NFC Payments

A project that’s been in the works for years, near field communication (NFC) payment technology is starting to gain mass adoption and acceptance as a simpler, faster, and more secure way to make payments at point of sale locations.  With the development of XC’s mobile app, the timing for such an acceptance of NFC technology by the general population couldn’t have been better.  Some of the key benefits associated with utilization of NFC technology in conjunction with XC:

Blockchain 2.0 Apps

XCurrency is built on Blockchain 2.0, a flexible digital platform which allows easy integration for current and future XC applications.  A few examples of upcoming applications would include the use of the XC App for encrypted messaging and chat, and the use of the XC blockchain for decentralized cloud storage.  These are just the start; the potential to build upon the XC platform is limitless.  With the Blockchain 2.0 architecture already in place, the blockchain for XCurrency is like a foundation awaiting the actual building to be erected.  Stay tuned to see what the XCurrency team has planned, and as always, if you have a great idea that you would like to see implemented, by all means contact us and we’ll take a more detailed look.

Web 3.0 Development

Web 3.0 represents the evolution of the World Wide Web.  Poised to make the internet fully and provably secure against identity theft, fraud, and spying,  Web 3.0 is a fundamental change in the architecture of the Internet. XCurrency’s platform approach incorporates Web 3.0 concepts, like decentralization and appropriately secure protocols for various types of information. As XC’s Blockchain 2.0 applications grow in number, XC will increasingly become a fundamental building block of Web 3.0.

Proof of Blockchain

Proof of Blockchain (PoBC) is such new technology, that very few understand it.  Invented by Jasinlee, one of XC’s developers, PoBC will essentially allow blockchains to talk to each other.  At this point, PoBC is a revolutionary concept that, if successfully implemented, will become an incredibly powerful facet of the XCurrency project, further increasing privacy and reducing blockchain size.  PoBC is not going to be implemented in the immediate future due to the enormous amount of work required to code and implement it, (and there are more immediate goals, as outlined in the XC roadmap), but keep an eye out for announcements regarding PoBC, and the positive impacts that PoBC may have on XC’s future.

Learn about XC's free encrypted Messaging (soon to have free encrypted video and voice call)
http://xc-official.com/xc-news/

Lead developer
http://www.linkedin.com/pub/dan-metcalf/12/1a8/b82

TIMELINE
*2014-5-08 XC launches
*2014-5-26 Rev. 1.0 End to end encryption
*2014-5-26 Trusted mixer
*2014-6-16 Rev. 1.5 Early multipath  
*2014-6-16 XC team reveals their identities
*2014-6-24 XC TOR Stick test release
*2014-7-7  XC official website launch
*2014-7-7  XC social media platforms launch
*2014-7-7 Rev 2.0
*2014-7-7 Full multipath
*2014-7-7 Trustless mixing
*2014-7-8 New XC team members introduced
*2014-7-9 XChat app test release
*2014-7-21 Rev 1 mixer code open source release
*2014-8-4 XChat and private payments merge
*2014-8-7 XC TOR Stick
*2014-8-7 XChat release
 COMING SOON
[Undisclosed Rev 2 privacy feature]
*Rev 2.5 XChat, New UI preview
*Rev 3.0 [Undisclosed tech update]
*XC app UI
*Official public launch
*XC TOR Stick ships to buyers
*Public bounty to provably break privacy
*XChat mobile
*XC mobile staking wallets
*XC ATMs
*XChat voice calling
*Point of sale integration
*XChat video calling
*Proof of Blockchain
*Decentralised cloud storage
*Decentralised exchange
*Interchains
AND MORE TO BE ANNOUNCED!!

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dadon
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August 10, 2014, 10:58:36 PM
 #2

Some more info provided by one of XCs team members

Let's sketch a scenario here:

- I want to pay someone

- I don't want to publicly reveal my address

- I don't want to publicly reveal the amount paid

- I will need to prove to the recipient that the amount has been paid

- If the product/service I'm paying for is not delivered I want the option of using this proof of payment to demand a refund or otherwise seek redress.


- The recipient does not want to disclose his/her address

- The recipient does not want to disclose the amount received

- The recipient needs proof of payment before providing the product/service


Solution:

- Sender uses multipath to conceal the amount paid

- Sender uses trustless mixing to conceal the address paid from

- Sender sends to a single-use address that (s)he is in control of

- Recipient provides a publicised address but will receive payment on a stealth address, thus concealing the address received on

- Sender then makes a public payment to the recipient's publicised address that is recorded on the blockchain as successfully sent


- In the event of a dispute, the sender can sign a message proving to be the owner of the public key associated with that address. This involves disclosing - at least to the recipient and possibly also publicly or to a mediator - the address and the amount. As such, users will be discouraged from engaging in illicit transactions due to inability to dispute publicly should products or services not be delivered.


So that'll work pretty well - and I haven't even need to use XChat, which would come in handy for other scenarios.

Secondly, when XC starts on smart contracts there'll be an additional tool at our disposal: escrow service nodes (which earn fees for forwarding/arbitrating multisig transactions). Now that'll be powerful. There'll be no conceivable situation we can't engineer optimally.

LINKS TO XC RELATED
*https://bitcointalk.org/index.php?topic=630547.0
*http://xctalk.com/
*http://www.reddit.com/r/XCofficialreddit/
*http://xc-official.com/

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dadon
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August 11, 2014, 01:54:53 AM
 #3

XC introduction video.
http://youtu.be/00WyuTm5jvQ

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dadon
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August 11, 2014, 10:16:04 AM
 #4

no one..

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Silly Money
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August 11, 2014, 10:19:48 AM
 #5

Lol, I see no evidence of why it's the future. Just looks like another dime a dozen alt to me.

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August 11, 2014, 10:22:49 AM
 #6

Lol, I see no evidence of why it's the future. Just looks like another dime a dozen alt to me.
Roll Eyes Does it lol..wow..fell free to name something better..and not just promises i want to see working tech..or fell free to link the sender and receiver addresses and claim the 2 BTC bounty that's been out for over a month.

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August 11, 2014, 10:34:47 AM
 #7

Lol, I see no evidence of why it's the future. Just looks like another dime a dozen alt to me.

thats because it is, plus its POS...
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August 11, 2014, 10:38:32 AM
 #8

Lol, I see no evidence of why it's the future. Just looks like another dime a dozen alt to me.

thats because it is, plus its POS...
you peeps make me giggle, go ahead name something better, i dare you, real working tech no vaporware allowed, and what's wrong with POS no new coin mintage means stable price, can't see the faults.

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dadon
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August 11, 2014, 11:07:38 AM
 #9

just name something better, should be easy since it's a dime a dozen..ohh that's what i thought it's not a dime a dozen, it's in a league of it's own, you all BTC fan boys, and your terrified, don't blame you really.

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Cannon Fodder
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August 11, 2014, 11:44:15 AM
 #10

Lol, I see no evidence of why it's the future. Just looks like another dime a dozen alt to me.

LOL, I see no evidence that you have a brain.  Roll Eyes

How can anyone that reads up on XC and who the main developer is come to the conclusion that XC is just another dime a dozen alt?
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August 11, 2014, 11:48:09 AM
 #11

please stop the constant spamming of XC

Sell that shit and write it off as a loss instead of trying to get another pump going.. it's not going to happen
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August 11, 2014, 11:51:55 AM
 #12

please stop the constant spamming of XC

Sell that shit and write it off as a loss instead of trying to get another pump going.. it's not going to happen

Why? Why we should sell?  Give us some reasons.
You know something that we don't?

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August 11, 2014, 11:54:53 AM
 #13

please stop the constant spamming of XC

Sell that shit and write it off as a loss instead of trying to get another pump going.. it's not going to happen
no loss i put less then 5k into it when it first came out, and got 80k i hold 75k right now, all profit no need to pump and dump, has a bright future and i'm in profit since it's sitting around $1 mark, and not spamming i'm spreading awareness because half this forum seams to living under a rock.

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August 11, 2014, 11:56:55 AM
 #14

Must be hard to have missed the train and now just feed in uncertainty and shitcoins. XC has been, is and will be constantly delivering till we bypass the haters in the community altogether and get noticed in the open world.

XCurrency Price Speculation Topic
Coin Control Basic guide                                                                XChat address/private/instant/absolute: XSKu1fpwvRcAekfK91qVHi51Tgz4ckoA91
XChat public key: zcfx74j4fFK9hW7rQniTvLyDyXd9SyRCrncP9vdukbVT
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August 11, 2014, 11:58:38 AM
 #15

please stop the constant spamming of XC

Sell that shit and write it off as a loss instead of trying to get another pump going.. it's not going to happen

Why? Why we should sell?  Give us some reasons.
You know something that we don't?


No

You know it as well but you don't want to believe it.
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August 11, 2014, 12:01:36 PM
 #16

please stop the constant spamming of XC

Sell that shit and write it off as a loss instead of trying to get another pump going.. it's not going to happen

Why? Why we should sell?  Give us some reasons.
You know something that we don't?


No

You know it as well but you don't want to believe it.
no one is going to pay you any attention until you explain WHY!! ohhh well we can't all retire off crypto investments good luck with whatever P&D your holding.

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August 11, 2014, 12:08:37 PM
 #17

Nothing special, you're talking nonsense IMO.


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August 11, 2014, 12:09:58 PM
 #18

please stop the constant spamming of XC


Sell that shit and write it off as a loss instead of trying to get another pump going.. it's not going to happen

Why? Why we should sell?  Give us some reasons.
You know something that we don't?


No

You know it as well but you don't want to believe it.

I don't know what are you talking about!?
Plecase do explain...

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August 11, 2014, 12:11:59 PM
 #19

Nothing special, you're talking nonsense IMO.
very special, your talking nonsense IMO.

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August 11, 2014, 12:13:57 PM
 #20

Nothing special, you're talking nonsense IMO.
very special, your talking nonsense IMO.
How about you start a poll newbie and see what happens. It wouldn't even matter since the older members are with Monero (a nice portion of them).


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