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The previous two years can be called the years of cryptocurrencies as in the past two years Bitcoin has reached every corner of the world. While the journey of cryptocurrencies continues; it is not as fast as before. There might be many reasons to this including timely regulations that are being exercised by various countries. These regulations are resultant of the fact that cryptocurrencies are independent of central authorities such as governments and banks owing to their decentralized nature.
On the other hand, there are some limitations associated with Bitcoin. Bitcoin can manage a mere seven transactions per second when credit card companies can process up to 100,000 transactions per second. The lack of suitability to mass market was the main reason why some developers got together to analyze and optimize the knowledge of previous cryptocurrencies and especially Bitcoin in 2012. A new, improved Blockchain has successfully been developed: The Infinity Economics platform and the XIN Coin. The Infinity Economics platform places great emphasis on transaction speed to ensure that XIN is used as a digital currency as XIN in practice. This is because coin transactions take place between two wallets. It works in the same way as that of a bank wire, but here, it is based on encrypted messages. The confirmation time for a transaction differs depending on the cryptocurrency and that is what making all the difference.
On January 10, 2017, 9 billion XIN Coins were generated by a Genesis process like that of a “big bang”, and were distributed entirely to the largest founding community so far. Since then, the Infinity Economics platform has brought together the best of all blockchain developments. It builds the foundation for endless use cases on the blockchains. A very promising feature of the Infinity Economics platform is its automated transactions (AT), also known as smart contracts. These intelligent (smart) contracts are small programs that automatically fulfil the conditions of a contract according to a predetermined procedure (if-then-else-logic). They can be deployed on the Infinity Economics blockchain, and they have the potential to enable use of the Internet of things to the mass market.
It also facilitates Asset Exchange which permits the investment, purchase and sale of asset. This also permits the presentation of data beyond simple coin trading. This creates diverse new opportunities for businesses. The Asset Exchange Facilitation is based on the coloured coin concept, where a coin or a set of coins can be firmly designated to represent something else.
The Escrow Service in the platform enables secure payments by retaining the buyer’s coins until the terms of the sale are met and the buyer releases the payment to the seller. This eliminates disputes, and removes needs of any further measures by third parties. The XIN tokens which are central to the platform facilitates anonymous transactions in less than 60 seconds with its secure wallet. Users can also create and send simple text messages within the decentralized blockchain. They can also replace system-defined names with your own texts to use key terms or phrases. The subscribed users get the liberty to terminate the recurring payment any time they want. It is quite obvious that the creation of additional funds (coins) act as basic building block of the monetary system on the Infinity Economics platform.
As far as new businesses are concerned, they can make use of Infinity Economics to finance existing or future projects in a novel and innovative way. Since its inception, Infinity Economics Platform has been a 100% community-led project which implies, the deciding power of all community members corresponds to their voting power. Voting is also done using consensus-based blockchain technology which enables completely transparent elections that are totally secure against counterfeiting, while ensuring the anonymity of each participant without having to rely on a central monitoring body. This approach essentially makes infinity economics a DAO (Decentralized Autonomous Organization). All the processes including platform development; marketing; documentation and everything else are organized in a decentralized manner. Therefore, the “power” rests with the users – the only consistent and fair approach for a blockchain as that is the only way to eliminate sources of error. The platform has been designed for users to decide independently of major investors, developers or founders.
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