Topic: [ANN] XGT - Sound money & robust programmability (Read 472 times)

XGT is a open source, 4th Epoch blockchain, built to facilitate

• Mining a finite supply of XGT coins, on the same supply schedule as BTC
• Executing smart contracts on the XGTVM, without burning XGT

(A) and (B) are generally incompatible in all prior blockchains because (B) requires a rate limiting system to prevent a decentralized merkle ledger being overwhelmed by bad actors (normally accomplished through gas costs). XGT overcomes this with the novel concept of Energy - with each XGT coin having a capacity of Energy which refills over time.

XGT uses gossip protocols and modern storage extensions to make significant improvements to memory, storage and network performance. It is intended to be mined on ASIC hardware to allow for efficient block generation, and facilitate pools of miners.

XGT is designed to be maximally open and easily decentralized. Our team has focussed heavily on developer - as - a - user, with several client libraries already implemented.

Alongside XGT, the XGTVM and the client libraries, we are also near to releasing HLX (an XGTVM bytecode emitting language, written in Ruby) and Lucidity, a new XGTVM bytecode emitting language written in typescript. Both HLX and Lucidity can be configured to emit the Ethereum subset of bytecode.

In terms of Supply technology, we have adopted the supply schedule of BTC as closely as possible while having the performance profile required for building enormous, long term applications. XGT is explicitly designed to have a stock-to-flow schedule superior to gold, as we believe this is one of the critical factors driving cryptocurrency value.

In order to have the same supply schedule, the necessarily extant supply of ~18,700,000 tokens at genesis must be distributed in an egalitarian manner, and will all be sold publicly by an offshore company.

Rationale

We believe that sound money and robust programmability can co-exist in the same blockchain. We believe that cryptocurrencies must be free of insiders, and that removing all forms of centralization, from mining, development, economic and dApp development can and must be done for network and chain security. Any move towards centralization, such as Proof of Stake, most alternatives to Nakamoto Consensus, economic hoarding by companies or other insiders, poses systemic threats to network security, and hence fundamentally threatens participants in the network.

Even Satoshi Nakamoto poses a threat to BTC - were their holdings of BTC to become active, it would pose a massive threat to the stability of BTC’s store of value properties.

System Overview

PoW Algorithm: SHA-256
Max Supply: 21,000,000 XGT
Divisions of XGT: 100,000,000 (G)
Block reward: 6.25 every 10 minutes
Difficulty: Adjusted every 2016 blocks
Halvings: Targeted every 4 years, targeted to halve in harmony with BTC


Features

• Fixed & finite token supply
• Offline wallet creation
• XGT Virtual Machine, supporting the Ethereum VM opcodes and custom extensions for
• future performance optimizations
• Non-token burning fuel used for smart contract implementation
• Implicit support for descendant tokens (XGT Token Trees)
• Flexible general purpose data storage on-ledger

Donations for development

BTC: 1K12Gt7AFCEKbiVcAgUUwBABPzJJR2vtjw

Miners

• CPU - open source - Gather’s C++ reference xgtd implementation

Linkage

• Our main XGT Site - https://www.xgt.network
• The XGT Codebase - https://github.com/xgt-network/xgt
• XGT Support libraries, dev kits & more - https://github.com/xgt-network
• Whitepaper - https://www.xgt.network/pdfs/whitepaper/xgt-whitepaper.pdf
• Reddit - https://www.reddit.com/r/XGTnetwork

Contact us

Discord - https://discord.gg/UTGAtFTv4a

The Team

XGT’s Engineering Team is

18730163 awarded and continue mining
the prize is huge

• Robert Day ⇋ Architecture, Protocol & Inventor
• Roger Jungemann ⇋ Lead C++ Engineer
• Liam Noroian ⇋ C++ Engineer

And we’re hiring engineers with C++ or Ruby/Python/Dart experience.
18730163 awarded and continue mining
the prize is huge

Anyone who is in on this will be super pleased. The creator of this is an absolute genius so don’t sleep on this if you happen to find this spread the word .  I know it will be a true gem

Gems don't require ASICs to mine.

Gems don't require ASICs to mine.

The future of sound money is here!!!! XGT is such a gem.   I hope you guys make a telegram and official Twitter account as the world needs to know.   I recommend anyone reading this join the discord for sure as I really love the team behind this and think this is going to be a very successful project.  https://discord.gg/5rJ4hwAn

Mining will start on Monday.

As for some warnings about the website, I take security extremely seriously. Please join our discord & post some screen shots in tech support so I can get that resolved. The SSL looks like it's working well for me and several other users.