Our Progress:
Important Points to Remember
We take our responsibilities seriously and as such, we’re laser-focused on achieving our goals. While we have yet to release our product, it would be a mistake for anyone to assume that we’re lagging behind the crypto industry.
We have already accomplished a great deal XTRABYTES released XFUEL on a lightweight version of our POSIGN technology about two years ago. In January of 2018, we transferred this POSIGN version to our XBY chain (to avoid ongoing PoW mining issues). We have been running this POSIGN light chain ever since. We have no PoW miners nor do we employ PoS. Instead, we employ our own mining algorithm (known as POSIGN-light). We fully intend to release more details about this technology after patent pending.
In addition, we’ve released our XCITE Mobile application in beta for testing purposes. Since then, we’ve had 150 people register as testing volunteers for this test and future testnets.
We intend to remain proprietaryNonetheless, we still face calls to release our proprietary code. We have no intention of doing that, given the unlimited number of forks that would come about as a result. Not only do forks present an obvious danger to intellectual property, they have also created an embarrassing amount of fraud and losses to unsuspecting people.
Instead, we intend to expose our technology on our terms. While we hope community members honor this path, we do not view ourselves as captive to any individual member’s interests or ideals. This is especially true with regards to open source advocacy. As far as we’re concerned, the crypto industry has been indelibly hobbled by the open source movement. Thus, any calls to make our code open-source can be considered wasted effort.
We have a committed teamOur refusal to entertain open source demands has lead to intemperate and unjust calls that we’re fraudulent or manipulative. And yet, every person involved in moving this project forward has come from the XTRABYTES community. And none were known to Borzalom or myself before we started this project. They’re passionate about seeing this project through.
Thus, any intimation that pulling the wool over these members’ eyes is somewhat insulting to their intelligence. We believe that their participation in our project is rooted in our revolutionary vision for the crypto industry. Team members are working hard on their respective project sections. And they’re fully appreciative of the fact that the founders and many early contributors are still on board. While outsiders might view the project as dead or inactive, our team members are plugging away to make it a success.
The Near TermGoing through the patent process has certainly been a learning process in its own right. Once I realized that the patent process was a bit more extensive than merely submitting notes, descriptions, and drawings, I remarked to members that the patents ‘will be completed when they’re completed’ (more or less). That statement has come in for some criticism as being unprofessional. However, It was born from the realization that this process would be of indeterminate length.
Fortunately, we’re nearing the end of this process. As they say, anything worth doing is worth doing right. If we were a mere bitcoin-clone, we would not be concerned with patents at all.
PromotionDespite not having a (releasable) product, we will continue to promote this project. In part, this is done to attract new community members to the project. These new members can take advantage of the current low prices, at least until these unfortunate and unforeseen delays end.
While any negativity within the discord is unfortunate, it will not affect this project’s long-term prospects. However, we will continue to purge our social channels of those who intend to sow FUD about our project (not unlike other projects). Otherwise, we will try to answer every actual (non-FUD) question that comes our way.
We hope you will continue to follow and support this project. Those that do will be happy they have done so. New and significant developments are on their way.
Thank you,
The XTRABYTES Team