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x42 Protocol
Open. Feeless. Infinite.
The Idea
This new blockchain platform offers every tool necessary for the development of smart contracts, side blockchains and the means to decentralize the final product in very few steps. It allows not only be able to create, test and debug your product on the same platform, but it also allows for the publishing and decentralized hosting of that same project.
x42 is a decentralized cryptocurrency based on the Stratis technology designed to be a multi-chain solution for DApps (decentralized applications). x42 allows for regular users to launch applications that would require big publishers to host them, at a much higher cost. This protocol allows for anyone that is creative and driven enough to launch any type of project for a near zero cost, and without any transaction fees after that. The x42 protocol will allow for private transactions and contracts to be signed, executed and maintained.
What exactly is x42 protocol
The main idea behind x42 is to be a scalable, on-chain solution for any developer that wants to launch games and applications in general with minimal initial investment, zero transaction fees and near infinite scalability. The protocol works around the main blockchain which hosts all the x42 coins and three types of nodes. Every project can have its own side blockchain, in which the development team can fully test and experiment on before going live to the store.
The main blockchain of the x42 protocol will have a maximum total of forty-two million coins mined into existence by the year 2030.
Possible applications
The x42 protocol allows for several existing and new business models to come to light in a much easier way than before with feeless transactions, side blockchains, smart contracts and much more. Some of the applications team is working on or hope to see eventually on side blockchains are:
- Casual games like Ethereum’s Cryptokitties
- Hardcore MMORPGs like Ultima and EVE Online
- Map applications improving on platforms like Waze and Maps.me
- Virtual Reality and Augmented Reality applications
- Voting systems, be those for small groups or entire nations
- Decentralized cryptocurrency exchanges
- Remote control of small and large equipment
- Upholding contracts via the reputation system
- Smart power grid control and energy distribution
- Allowing for the creation of entirely blockchain based communities
- Businesses and government automation of various processes
- New projects being launched in the form of an x42 token side blockchain
The possible applications for the x42 protocol are nearly infinite.
Key features
- x42 protocol – to publish anything they desire in a fast, cheap and secure manner, to launch a game or other type of application using a single x42 coin or even less
- Zero fees – the x42 protocol is meant to be used by everyone, so the main blockchain is completely free of any transaction fees, all block rewards will use the proof of stake as a block validation method to sign and allow for new transactions
- Proof of stake and masternodes – any user with at least a thousand units of x42 can host a masternode
- Infinitely scalable side blockchains – with the x42 protocol anyone will be able to create a unique side blockchain that will scale as much or as little as the developer needs, that side blockchain can be hosted by any or even all the masternode owners.
- Fast transactions per second – the common bottleneck of TPS does not affect x42. The x42 main blockchain already supports over ten times the number of transactions compared to what the Bitcoin is capable of today, August 2018.
- Affordable – x42 allows developers to publish with almost no investment. Side blockchains can be generated at the cost of a single unit of x42 on the main blockchain. This minimum price can be scaled down as x42 gains in price.
- Control over publishing – masternode owners can choose to host projects as they are launched on any of the non-private side blockchains. To host a private side blockchain you need access that can only be given by the developer or organization.
- Reputation system – the idea of the platform is to allow for users to vote on projects being hosted by smart contracts. By browsing store users will be able to download, run and host varied applications and smart contracts that were posted on the network. Users will also be able to recommend applications and comment on other users using the same system, which will also allow for blocking, downgrading users, applications, and smart contracts.
- Smart contracts – x42 smart contracts use C# to make them easy to develop, test, and debug.
- Privacy – users of the x42 protocol will be able to enjoy private transactions by using the Breeze Wallet protocol, which will make any transaction private and untraceable not only on x42’s main blockchain but also on all side blockchains that choose to enable the option for private transactions in their code.
Architecture and development
The platform itself allows for near infinite freedom when it comes to publishing, creating an environment where DApps can be posted on our blockchain easily and hosted by other node owners, allowing for decentralized processing of the various applications published to x42 side blockchains. The x42 protocol has a layered architecture, and it uses C#, Microsoft .NET and the NBitcoin library.
There are three main levels of the x42 architecture:
1. Stratis Bitcoin full node ‒ this is responsible for interacting with interface and infrastructure layer as well as the Node policy layer. All the APIs and user interface are handled through the x42 Bitcoin Full Node.
2. LibConsensus ‒ This is the Bitcoin Core version and is responsible for deciding what is to be considered a valid block.
3. NBitcoin ‒ This does anything remaining and fills in the gaps between the Consensus Layer functions while also handling messages between nodes in the Network Layer.
Block validation
Block reward will be 20 coins per block until block number 550.000, after that all blocks will only generate 5 coins until the maximum supply of 42.000.000 x42 is reached.
Owners of x42 masternodes will be able to stake their coins to generate new ones related to the amount they are currently staking until the total supply is created. Until and after that point owners will also receive a percentage of transaction fees from the games and decentralized applications hosted on the side blockchains that they decided to host on their masternode.
x42 masternodes uses proof of stake but not proof of work as the x42 team believes in a greener world. Proof of work (the bitcoin mining and block validation method) is quickly proving to be wasteful both in electricity and electronics.
Nodes
Three types of nodes will be available on the x42 protocol, two of them will allow the user to stake their coins:
- Client node
A client node in the x42 network is defined by any client that runs a wallet connected to the x42 main blockchain. This software wallet allows the user to be able to receive and send transactions at will. This type of node does not allow staking. - Full node
A full node is any device that is running a software wallet, has the entire blockchain saved and is connected to the x42 main blockchain. The full node can stake coins on the main blockchain. - Masternode
A masternode is a wallet client that has at least 1000 x42 coins on the main blockchain. This type of node not only allows for all the functionality of a full node but also by owning a masternode any user will also get a percentage of the income generated by the DApps, games and smart contracts on side blockchains that the masternode owner chooses to host. Like the full node, masternodes can also stake coins on the main blockchain.
Privacy
Having integrated the TumbleBit into the Breeze Wallet the Stratis team made a breakthrough in blockchain privacy, allowing for any and all transactions, be those Bitcoin, Stratis or x42 to be made completely private without relying on a central tumbler or node. By using this technology x42 will allow for compatible, private and trustless transactions, which will give an extra option for those seeking for truly private blockchain alternatives.
Coin specification
Coin name: x42 Protocol
Ticker: x42
Decimals: 8
Block validation: PoS (Proof of Stake)
Block reduction: 550 000 (from 20 x42 to 5 x42, until 42.000.000 coins exist)
Block time: 60 sec
Premine: 10 500 000 (25%)
Total supply: 42 000 000
There will not be ICO, only traditional launch.
Roadmap
August 1, 2018
Launch day
Q4 2018
Masternodes
Private transactions and contracts
Q2 2019
Blockchain application store
Q3 2019
Reputation system
Contract unique identification
Q4 2019
Contract auction house
After this short-term plan team will focus on code improvements and side blockchain DApps development.
Team
This project team is anonymous as they believe that this project doesn’t need a face. They say: ” We want this blockchain protocol to be used by everyone and be adopted as if it is their own because that was the idea from the start. We do not own x42, we merely developed it.” They reveal that the team is multi-country and the majority of them are cryptocurrency veterans.
Contact e-mail: [email protected]