GRAND CAYMAN, Cayman Islands, Dec. 19, 2019 /PRNewswire/ -- The xx network has announced new details regarding the token economics of the xx coin, the revolutionary blockchain and cryptocurrency led by David Chaum, founder of Elixxir and Praxxis.
The announcement, published as an addendum to the xx network Whitepaper, adds detail and clarity to the economic incentivization of stakeholders within the xx network ecosystem. Network token economics address how the decentralized xx network will align the interests of stakeholders such as node operators, dApp developers, and ordinary users. Members of the public can read the updated whitepaper at xx-coin.io.
"The xx coin is a digital currency designed to support and incentivize the decentralized ecosystem of the xx network," said David Chaum. "The token economics of the xx network are a critical building block of our strong foundation to assure longterm privacy, usability, and security. We are excited to share these details with the community."
To promote public understanding of the xx network, xx coin, and token economics, the xx network team is currently hosting an eight-part series of free webinars. Community members can register to attend the webinars, ask questions, and provide feedback via the Praxxis website.
This token economics announcement comes soon after the release of the xx network Whitepaper and technical documents published by Elixxir and Praxxis. Elixxir technology enables the xx network to provide unprecedented privacy protection by shredding user metadata. Praxxis technology provides the xx network with its xx coin currency and a consensus protocol which incorporates endorser sampling, linear scaling, committed randomness, and compact endorsement signatures to deliver efficient quantum security.
David Chaum, Founder of Elixxir and Praxxis, is available for interview.
About David Chaum:
David Chaum is widely known for inventing the first digital currency, e-Cash, in the early 1980s, which he later deployed in the 1990s at his company DigiCash. He has also recently been credited with proposing the first decentralized blockchain as his PhD dissertation at Berkeley in 1982.
About xx network:
The xx coin is a digital currency that will support decentralized messaging, payments, and dApps on the xx network. The xx network was designed in response to growing public concern for user privacy as well as the emerging threat of quantum computing. The Elixxir cMix network layer provides groundbreaking privacy and security by shredding user metadata. Praxxis provides a denominated coin structure that breaks payments into individual coins to provide privacy, and distinctive hash-based cryptography, which is secure against attacks from current nation-state adversaries and future quantum computers.
Praxxis is a digital currency and a consensus protocol underpinning a full-stack blockchain. Praxxis has been designed and developed by WBM Corp. Led by William Carter, WBM Corp. is one of the first companies officed in the Cayman Enterprise City in the Cayman Islands. Carter is a computer scientist with an extensive systems design background gained working in the blockchain space, in optics R&D, and earlier at JPL in Pasadena. The WBM team is made up of cryptographers, developers, operational personnel, and marketing professionals. Early work on the Praxxis chain was conducted at Privategrity Corporation in the Los Angeles area.
xx coins are not being offered to any U.S. persons as such term is used in the Securities Act of 1933. Additionally, this press release shall not constitute an offer to sell or the solicitation of an offer to buy nor may there be any sale of xx coins discussed in this press release in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release and documents referenced in this press release contain forward looking statements, including among other things, statements concerning the distribution of xx coins, and other statements identified by words such as "could," "expects," "intends," "may," "plans," "potential," "should," "will," "would," or similar expressions and the negatives of those terms. Forward-looking statements are not promises or guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond our control. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, market risks and uncertainties and the satisfaction of customary closing conditions for a distribution of xx coins. Forward-looking statements speak only as of the date hereof, and, except as required by law, Praxxis undertakes no obligation to update or revise these forward-looking statements.