The XX network (XX/USDT – Trade it Here) is a fast, low-fee, quantum-ready layer 1 blockchain. The xx network utilizes nominated Proof-of-Stake (PoS) to incentivize all coin holders to run and elect nodes as well as participate in the governance of the platform via an on-chain DAO. This article explores the core features and overall tokenomics of the xx network (plus how to buy and earn XX on MEXC).
Core Features of XX Network
The xx consensus leverages three innovative mechanisms:
- Committed Randomness. Each node in the xx network publicly commits (using hash functions) to a large number of random values that they generate but keep secret. Every round, one node is chosen to be a block producer (by a prior round’s random) and reveals its predetermined secret that is verifiable by the rest of the network. When combined with the chain of all prior revealed randoms (extending back to the random published in the genesis block), which generated a new verifiable but unmanipulatable random to schedule nodes for subsequent Rounds.
- Endorser Sampling. Randomly select constant-sized subset of the network to endorse a block. By sampling a subset of the network to receive, verify, and endorse the transactions in a block, the majority of nodes only need to receive a condensed ledger of all transactions along with the endorsement of the sampled nodes.
- Compact Group Endorsement Signatures. A new quantum-secure group-signature scheme based on hash signatures that vastly reduces the size of proofs of finality. Each endorser signs only a small number of bits corresponding to the block. As a result, each individual signature is insecure on its own, but if enough endorsers sign the same block, then the signature as a whole is quantum-secure, compact, and quick to validate.
There is no limit on the total supply of xx tokens. In the genesis block, one billion xx coins were minted. To illustrate more, a total of 30% of the xx coins are reserved for sale by xx network, 25% of the xx coins were reserved for project creators and vested over 3 years, 10% of the xx coins are reserved for an xx network Foundation to incentivize ecosystem development, and the final 35% were allocated to coin holders to receive as staking and incentive rewards for participating in node nomination and governance and for pre-MainNet node rewards and community air drops.
Other than serving as rewards for stakers and node validators, xx coin also helps to facilitate xx network’s most important function of communication. In order to make payments private, denominated coins are split into individual messages as described in the xx coin section. Due to the limitations on free postage, private payments will likely require the use of paid postage to submit the entire payment simultaneously for fast finality.
At the time of writing, xx coin has an estimated market cap of $36,623,436.
How to Buy XX?
Looking for a way to buy XX? You can purchase XX on MEXC following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “XX” using the search bar to see the available trading pairs. Take XX/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of XX you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy XX] to confirm your order. You will find the purchased XX in your Spot Wallet.
Recent XX Price & Performance
In 2022, XX reached the highest price (ATH) of 0.7698 USD on August 5th, 2022. The lowest price of XX since the ATH date was 0.2825 USD on August 21st, 2022.
Interested in Crypto like XX?
MEXC lists moonshot and provides access to trading of major crypto coins like XX, keep an eye on our listings in Innovation and Assessment zones, as well as major tokens in the Main Zone – we have more great projects to come! Also, visit the Hot Projects section to find more listed hot tokens. If you would like to know more about crypto trading itself visit MEXC Academy.