Topic: [ANN] [XEL] :: XEL - The Decentralized Supercomputer :: - page 18. (Read 253664 times)

Well, apart from the fact that there is no such thing as 100%, pretty much.

There are two widely recognized ways of "burning" coins, both include sending them to provably unspendable addresses. "Provably unspendable" means that the addresses themselves show that there is close to zero chance that anyone knows the associated private key by looking extremely deliberate. Basically, if someone is able to find the associated private key to a burn address, you can assume that they can find any key for any wallet on the chain.

I've pointed out the first method above.

The second method is not much different, but instead of the address itself, the public key is used. The public key is the key directly derived from the private key. Addresses are usually generated by taking a private key, performing cryptographic hashing on it to generate the public key. Then, cryptographic hashing is used on the public key to generate the address. XEL is no different in that regard. To generate a "burn address", you take a sufficiently non-random public key (all zeros is common) and generate an address out of it. This is a little more tricky and the address still looks random at first glance, which is why I'd prefer the first way.

I didnt follow this topic for a while but still holding some... so whats new with the Elastic project? Is the site still under development waiting for the new crypto-market bull run to start?

It us actually a really good question to create an address where nobody has had ever access to it. Maybe the genesis account might be the best option to go since no one should be able to actually use this address for personal reasons. But I might be wrong. But this would be a quite simple to answer question for EK I guess

So if I use the method you describe nobody will be able to claim those funds making them 100 % inaccessible, right?

There's a chance that someone has access to the genesis address. Not sure, though.

I tried finding out whether NXT-addresses (which XEL-adresses are based on) use checksums and I didn' find anything, so maybe you could "generate" burn addresses by choosing obviously non-random addresses, like XEL-BURN-ADDR-ESSX-XXXXX, XEL-XXXX-XXXX-XXXX-XXXXX and send the funds there. Not sure if this works, but since you want to burn them anyway, there's no harm in trying I guess. When making an address up, remember that NXT/XEL addresses don't use 0, O, I and 1.


There's a number of reasons, such as showing goodwill, getting rid of "tainted" (i.e. stolen) tokens which can't be returned for whatever reason etc.

Random fun fact: Counterparty used it as a means to distribute tokens to users. This is their burn address:

https://www.blockchain.com/btc/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr

(The last six random looking characters are the checksum I meant above)

Who may want to burn something that has value?

I do not understand, I imagine that everyone will want to have more XEL, but someone wants to get rid of them?

If you ask me I really don't know since I am not the most technical person :p But I would love to have a definite answer to the question

How about sending to genesis block account? Would that work?

http://elasticexplorer.org/address/XEL-H22F-GBXY-4BXS-6S4VQ/

Anyone knows if there's a burn address for xel, and if not, how can someone set one up?

Yes project is very active. It is already listed on trex and upbit. New exchanges are not priority right now.

The answer to your question lies just three messages above you. The latest updates (betanet,  revisioned whitepaper, and 2 (yes two!) new websites) got released a month ago. Also have a look at GitHub, it has constantly been updated every couple of weeks for the past year or so... So much for your "simply nothing" bs.

So you are either fudding or too lazy to even scroll up a bit.

As for volume, it's steadily anywhere from 10-50 BTC everyday for the past couples of months. Ok it's not huge but definitely not zero as you claim.

As for the "no new exchanges" thing, instead of complaining why don't you actually prove yourself useful and contact some exchanges asking for XEL to be listed? I bet you are too lazy to do that too so let me help. Here are two forms you can use:
1) https://m.poloniex.com/coinRequest
2) https://yobit.net/en/addcoin/

With enough requests combined with the fact it's a solid project with a working product, XEL has good chances get listed on either of these two exchanges. So go and fill them up instead of being a whiner.

Is this project still alive or dead? No volume, no new exchange, simply nothing.

I have made a fan account on steemit to promote elastic, I'll try to make regural posts, feel free to support and resteem the posts if you feel like it: https://steemit.com/xel/@xeline/xel-mining-demo-mainnet-video

on the verge of selling verge. I prefer to hold low cap coins than investing in overly inflated coins like xvg is.

Great find on https://www.elastic.pw and I feel like it's worth quoting this here as THERE IS LOTS OF UPDATES and the XEL progress this year has been fantastic.


About The Elastic XEL Project

Elastic is a revolutionary Open Source project aimed to create a decentralized trustless SuperComputer by utilizing cryptography and blockchain technology. It creates a complex platform that can execute a vast array of tasks in need of Computational resources; all is done in a P2P distributed way inside of the Elastic platform.

Elastic offers a versatile and flexible system by enabling self programmable tasks instead of hardcoded use cases. This is achieved thanks to the proprietary ElasticPL programming language. The system offers trustless access to computational resources at any time and from any location, while keeping privacy and anonymity.

Besides its own dedicated blockchain, the system contains three main components: A core client, the XEL miner, and the ElasticPL programming language. The Elastic platform uses the native XEL token. XEL serves as an accounting system and medium of exchange to reward miners with proportional bounties for providing computing power.

Want to learn more? please stay tuned, we are in the process of building our new website to give you more detailed information, and to showcase our system.

29.05.2018 - NEWS: XEL SuperComputing Demo. Click here!

28.05.2018 - NEWS: Betanet is now Online. Click here!

28.05.2018 - NEWS: WhitePaper is now Online. Click here!

27.04.2018 - NEWS: xeline testnet wallet is now Online. Click here!

25.03.2018 - NEWS: Developer update is now Online. Click here!

No deliveries? And what's all those updates listed on the bottom of this page? https://www.elastic.pw

Edit: Click the about button first and scroll down

Well, if you need the money to survive, you should sell instantly.

This game is a gamble, no matter how you look at it. Only keep the money invested that you can afford to lose. This has absolutely nothing to do with the quality of a project, every projects has highs and lows and if you happen to need the money when it's a low, you're screwed. I could tell you how much I think Verge sucks, that I think that Matchpool is a dead-end and that I still think XEL will make it in the long run, but that is not the point.

You need the money, you take it out. Easy as that. And by "out", I mean out-out, as in not Bitcoin, not Ethereum, but fiat. Unless you live in Venezuela or something.

After hodling since inception. I now feel tired and on the verge of selling my elastics and my verge xvg, and also my guppy matchpool.. no deliveries; need money to survive

Maybe it's okay to go back and buy XEL and wait! I ended up being disappointed with SNM! They raised $42 million and maybe that value is higher today, but nothing happens there! What's necessary is to have patience and to wait for things to happen, with this mentality, XEL is one step ahead.

I can see similarities with GNT, but not with DADI. Anyway, I don't see why GNT is way better than elastic and why it should get more adoption, however, GNT is 22x more expensive.