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Dear community,

today, we think that it’s necessary to take the time and take a step back to write about the latest development in the X-Cash ecosystem.

We would like to preface this article by addressing some concerns that arose from recent discussions within the community. Some members of the community have pointed out that it seems that most of X-Cash development is focused on DPOPS at the moment, and because it’s taking longer than planned it feels like the rest of the project is at a stop.

While this is true to some extent, we are moving forward in the background on several other projects that are not directly related to the state of the DPOPS development, albeit linked to its release. As you might know, we prefer not to make much noise about unfinished products.

With this in mind, we would like to write today about the progress that has been made to the DPOPS, talk about the new X-Cash website and what it means for the projects, and drop some hints about a project we have been thinking about since the birth of X-Cash.

DPOPS Beta update

At the time we are writing the article, the 10th beta run has just concluded, and we are preparing for the 11th with a series of updates and fine-tuning. Although those tests are taking a long time, we would like to point out that they are mandatory, as once we switch to main net there is no coming back. The DPOPS needs to be thoroughly tested, and with the unwavering help of our beta-testers, we are getting much quicker at pointing out issues.

1*N8Q-QK0hrXv5X_s6W-uD7g.pngNearly 1600 commits, 10 contributors, 30 closed issues and pull requests. The contributors help is getting more representative every day.

Since the start of the beta, there has been many software relaibility, quality of life, and compatibility improvments. The auto-installer has been revamped and made easier to use, the delegate explorer’s design has been drastically improved, LXC containers support have been fixed, and much more.

As Zach pointed out, we are in the lastest test runs before mainnet. Once the beta has been running for a satisfying amount of time, with a stable uptime for all beta delegates, we will start the transition to the mainnet.

The new X-Cash Website

The current X-Cash website hasn’t been updated for a while now, and it is mostly due to gathering most of the community activity on our Discord server. As the project is moving forward, we are well aware our current website is lacking updates and crucial elements to help newcomers and new investors into the project.

We have decided to reconstruct the website entirely, and bring some much needed features to help newcomers into the project.

Please be minded that every screenshot presented below is of a work in progress, and will change as we are closer to release.

The new website will have:

  • A “Get Started” guide for newcomers of the projects. This place will provide a step by step guide to get introduced to the project, and find all necessary information for new joiners.
  • A “Developer Hub” for contributors and people who want to build on X-Cash.
  • All the necessary link, list of exchanges, documentation, and a newly hosted blog directly on the website.
  • Instructions to become a delegate, how to vote and stake your XCASH, and a view into the delegates ecosystem.
  • Accessing every ways to securely store your XCASH.
1*HKlkS1Yp3yyq7BndVVyIyw.png
  • The contributor program will be hosted on the website. We will list all open contribution’s projects directly on the website for contributors to come and check if they can participate and earn a reward.
1*Pg_5auuIzAf03O9K43DnBA.pngThe technical roadmap of X-Cash.

Updating the website is important. When the DPOPS mainnet rolls in, we want new joiners to gain as much information as possible on the website, and go further by joining the discussion on Discord with the already well active community.

The new website will be the showcase of the project, and while we believe that the current website is satisfactory, we can do much more to ease the integration of new people into the project.

We would like to release the website before the mainnet of the DPOPS, but there is still much to write and to design. Do not hesitate to post feedback or ideas in Discord!

Codename: Viaduc

We don’t want to announce anything before its at least in a prototype stage, but we still want to address what is brewing in the background. I will give some bullet points of information I can safely share at this stage:

  • This project is heavely tied to the X-Bank;
  • It will help with X-Cash’s interoperability with other protocols;
  • It was designed a long time ago to help X-Cash listing on exchanges, but the current timing has pushed it up in the list.

It is still too early to tell you more about it, but we are waiting impatiently to present you the Viaduc Project in a longer article. In the meantime, put on your tinfoil hats and speculate on what it could be. ?

Closing words

Since the beginning of the DPOPS beta, we have seen a lot of involvement from the community, and we couldn’t be more happy from the direction the project is taking. We have seen people trying to engage deep discussion on Discord, forwarding news on Twitter and trying to bring new people in by posting engaging comments, etc… Theses past few months, the number of contributors on the DPOPS repository has skyrocketed, and participants have brought valuable if not gamechanging updates to the software.

We recognize these contributors as an integral part of the project, and we will enforce ourselves to incentives more projects with the contributor program. As discussed with some of you already, we will also reward projects and contributions retrospectively to keep it fair for early helpers.

There are still a lot to come before the end of this year, so let’s build together ?

The X-Network Team & X-Cash Foundation.

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X-Cash project update: DPOPS, new website, and future plans. was originally published in X-CASH on Medium, where people are continuing the conversation by highlighting and responding to this story.


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Dear community,

In a context where we are getting closer to DPOPS and with growing interests for X-Cash, we are announcing that X-Network, the primary contributor of X-Cash development, will perform a buy-back of 823,298,491 XCASH in a 3 months period starting Wednesday, September 16th, 2020.

The coins will be bought directly on the current exchanges where X-Cash is listed. These coins will be added back to X-Network’s inventory, currently standing at 9,176,701,509.156 XCASH (verifiable using the reserve proof on the segregated funds’ tracker). These funds will be locked under a new reserve proof totaling 10,000,000,000 (10Billions) XCASH which is also the initial amount granted to X-Network for the development of X-Cash. Because these funds will be locked for an undetermined period, they will be taken out of the circulating supply.

The primary reason for doing this operation is to reinforce once again the commitment of X-Network to make X-Cash a successful project in the next months. Once the buy-back is finalized, X-Network will be back to a neutral position in terms of X-Cash flow since the inception of the project.

Through this initiative, we also hope to support the price of the coins and contribute to increasing the market capitalization and adoption of the coin, which is a mandatory goal to ensure the long term financing of the project.

This initiative is the first one of a series that will gradually increase coverage for the X-Cash Foundation throughout X-Cash listings, cross-chain bridges, and OTC channels that we are preparing for a later announcement.

As always, thank you for all the support and contributions ?

The X-Network team & X-Cash contributors

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Announcement: X-Cash buy-back was originally published in X-CASH on Medium, where people are continuing the conversation by highlighting and responding to this story.


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DPOPS Beta Update — Phase 2

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Dear Community,

It is with great excitement that we are sharing with you this update about the DPOPS Beta progress.

During the last year, we have developed an innovative consensus protocol called Delegated-Proof-of-Private-Stake. This protocol is the first DPOS that allows the use of private stakes for staking. While we coded most of the features from scratch, we have chosen to rely on Monero’s core technology for the obfuscation of the transactions.

In this article, we are providing you with an update on what has been developed and fixed since the start of the Beta. We would also like to give a huge thanks to all the contributors who assisted us since the alpha to identify these bugs and also providing their feedback to improve DPOPS.

Bugs fixing

Below is the exhaustive lists of the bugs identified and solved in the last weeks.

Incorrect block producer picking up [DPOPS]

This issue caused some delegates to pay for blocks they did not create.

Wrong block producer in block [DPOPS]

The wrong block producer was stored in the created block.

Double pay replay round [DPOPS]

Shared delegates were paying double or more for replayed rounds.

Security issue VRF key generation [DPOPS]

VRF keys were generated using a non-CSPRNG generator, making them weaker.

Majority check for syncing not working [DPOPS]

Fixed the majority check which verifies the integrity of a DB synced from a delegate.

Server stability [DPOPS]

Various fixes to make server and messaging more stable and less prone to drops.

Empty DB sync error [DPOPS]

Syncing would get stuck if the DB to sync was empty.

False positives reserve proofs [DPOPS]

Some edge cases were causing false positives for reserve proofs.

Syncing issue [Core]

One should be able to sync even if 34%+ of delegates are offline, fall back is 80% of seed nodes need to be online to sync.

Sometimes vote fails but is added [Core]

Checking was too strict with a 100% seed nodes threshold + 67% of delegates. Now adjusted to 80% seed nodes + 67% of delegates.

Reorganization issues [Core]

Reorganizations were triggered while not allowed under DPOPS rules.

Changing from solo to shared setups [Autoinstaller]

Switching between setup was not working after the installation.

Blockchain bootstrapping [Autoinstaller]

Blockchain was not being bootstrapped during installation.

Spelling errors [Autoinstaller]

Various wording and spelling adjustments.

Showing wrong info sometimes [Delegates website]

Some wrong information was displayed in several delegates metrics/stats

Logo not showing [Delegates & Shared Delegates websites]

Fixed logo not being displayed

No-blocks produced error [Shared delegates website]

An error as displayed before producing the first block

Non-functional API error [Shared delegates website]

Don’t allow for lookup based on the hash of a block.

Features & Optimisations

We also added a few notable features thanks to your feedbacks !

Get online status [DPOPS]

Delegates are now sorted by online/offline status and followed by vote count. This way, only the top 50 online delegates are displayed.

Miscellaneous optimizations [DPOPS]

Various CPU optimizations.

Seed nodes backup DB [DPOPS]

Seed nodes now save a second physical backup of decentralized DB for extra security.

Seed nodes don’t produce blocks anymore [DPOPS]

Only elected delegates will now be eligible to become block producers.

Stricter block verification rules [Core]

Stricter rules for delegates to add blocks to the blockchain, and faster syncing for all users.

Average delegate estimate vote count [Delegates website]

Added an average estimate indicator for becoming a delegate (total votes / 45).

Show blocks produced [Delegates website]

Blocks produced are now displayed on the front page

What’s next

It is with great excitement that we are now moving to the next step of the tests: Beta v2. This version includes all the fixes and features described above and should be the last before the main net release.

On Saturday 29th August, at 6 pm Paris time, we will start the second phase of DPOPS Beta, all delegates should update both their version and their VRF keys.

To update your keys please refer to the documentation here.

On behalf of the team, the contributors, and all the network participants, I would like to thank once again our great community for their support in creating the first delegated Proof-of-Private-Stake consensus. With beta v2 we are one step closer to bringing our innovation to the ecosystem and continuing to make X-Cash a successful project.

Finally, as the project is progressing significantly, we are preparing a special announcement for next week that will strengthen once again our commitment to the X-Cash project.

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DPOPS Beta Update — Phase 2 was originally published in X-CASH on Medium, where people are continuing the conversation by highlighting and responding to this story.


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Delegated Proof of Private Stake — Beta general information and schedule

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The DPOPS (standing for Delegated-Proof-of-Private Stake) is a brand new and unique Delegate-Proof-of-Stake consensus integrated into X-Cash, an open-source fork of Monero which has since the beginning of the project brought new innovation to the privacy coin space (notably FlexPrivacy, public & private transactions on the same blockchain, from the same wallet).

The alpha phase of the DPOPS is officially over! ?

After nearly a year of development, planning, and testing, we are glad to finally enter the beta phase of the DPOPS. We are really excited to enter this phase with the community, stress test the network, and work together for the DPOPS to become mainnet.

If you joined us recently, we recommend that you have a look at our latest articles about the progress that has been made in the alpha, and general question about staking and voting.

In today’s article, we want to give you general information about the beta, establish the schedule, and accompany you into joining.

? Schedule

There are several organizational steps to observe before the start of the beta and the forging of the first block. We will give you a detailed explanation of each step, what it entails, and what you need to prepare.

  • Between the 29th to 30th of June: Snapshot of the blockchain
  • July 2nd: Release of the binaries and instructions
  • July 28th: Official start of the beta and forging of the first block (and XCASH 2nd anniversary ?)

In practice, this schedule should give you plenty of time to prepare a delegate node, get accustomed to the program and the ecosystem.

? Snapshot of the blockchain

The beta phase will run on an alternative chain of X-Cash that doesn’t interact with the mainnet. Because the new consensus might still be prone to some bugs and adjustments, it is important that the mainnet keeps running on a PoW consensus for the duration of the beta and until we are 100% sure that the DPOPS runs flawlessly.

We will take a snapshot of the X-Cash blockchain at the block 640,000 (at the current block time, this should happen on the 29th of June). While the main blockchain will keep running with the regular CN Heavy X mining algorithm, we will use this snapshot as a starting point for the DPOPS beta.

Practical information

1*sfhMdlNgJgXCOr9VmvqelA.pngSnapshot of the X-Cash blockchain at the block 640,000

After the snapshot, there will be two chains running in parallel. The mainnet will continue as it is, on the current X-Cash version (1.5.0). The entirety of the ecosystem, meaning exchanges, X-Payment, X-Bank, mining pools, etc… will continue to be on the mainnet until the end of the beta phase.

On the other hand, the alternative chain will run on the new DPOPS consensus. The delegates will be able to get elected with votes from the community, distribute rewards, and so on.

1*X98zIf-UjGXmpNzSzGvcYw.pngInteractions between the two chains.

At the snapshot, you will be able to interact with the two chains with different versions of the wallets. You can open with the current version (1.5.0) that will have your XCASH, and a copy of the main one with the same amount that you can open with the beta-binaries (2.0.0-beta), which will only be usable in the DPOPS ecosystem (voting for delegates, getting rewards, etc…).

As you know, you won’t be able to send XCASH from the beta-chain to the mainnet, and vice versa. It also means that any XCASH bought or obtained after the snapshot will not be reflected on the beta-chain, as they will be obtained on the mainnet.

If you want to run a solo node during the beta, you will have to get your XCASH before the snapshot. If you plan to vote with funds from your X-Bank account, you will need to send them before block 640,000 on a wallet where you own the private key as it is not possible to vote from the X-Bank yet.

Once the beta is over and we switch to mainnet, the beta-chain will be discontinued, so any X-Cash earned during the beta will not be taken into account.

Release of binaries and instructions

Once the snapshot of the blockchain is made, we will need a few days to build new binaries dedicated to the beta (wallet, daemon, etc…) to interact with the DPOPS chain. We plan to have the binaries ready for all platforms by July 2nd. We will also give additional instructions to be ready for the official launch.

If you want to have a look before the snapshot and prepare yourself, we recommend that you thoroughly read the documentation and get started with your node installation if you plan to run a delegate node: https://docs.xcash.foundation/dpops/get-started

We have also prepared a dedicated channel in Discord to post your question and get help with the community: https://discord.gg/fHvSXUh

? Official start of the beta and forging of the first block

The beta will officially start on Monday, July 28th ?. We believe that three weeks is sufficient for people who wants to participate in the beta to prepare themselves and get a server running.

If you want to run a delegate node, you should by this date have a server with the xcash-dpops program running and be registered as a delegate. At that point, people will be able to vote for you and you will compete for a place in the top 50 for a forging position. We will use the snapshot of the blockchain as a starting point and the first block will be forged.

I want to participate in the beta, what should I do?

If you plan on becoming a delegate, we thoroughly advise you to participate in the beta. You will learn to get accustomed to the programs and avoid user errors when we run the DPOPS in mainnet. As your ability to be online and a reliable block producer will an important factor for the voters, participating in the beta will give you hands-on experience and will put you at an advantage towards other delegates.

I just want to stake/vote

Before the snapshot on June 29th, you should have prepared a wallet (where you own the key) with the amount of XCASH you wish to vote with. When the wallet binaries release, you will need to download them. You will then be able to vote for your preferred delegate using the CLI wallet.
Refer to the voting guide to have an early look at the instructions: https://docs.xcash.foundation/dpops/vote-and-staking

When the beta starts on July 28th, the delegates you voted for will start forging blocks and you will earn rewards on the beta-chain. You can only use these rewards to increase your vote or to send to other wallets running on the beta-chain.

I want to run a delegate node

Before the snapshot on June 29th, you should have prepared a wallet (where you own the key) with the amount of XCASH you wish to vote towards your node. You can already prepare a server with our server setup guide. You can also install the xcash-dpops program and familiarize yourself with the different steps.
When the binaries are released, you will have 3 weeks to prepare your node, register yourself as a delegate, advertise on the delegates Discord channel, and place yourself in the top 50 delegates. The beta test will start on July 28th, at which point you will start forging blocks if you are selected as a block producer.

Got any additional questions or need help? We created a dedicated channel on Discord for that ? https://discord.gg/fHvSXUh

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Delegated Proof of Private Stake — Beta general information and schedule was originally published in X-CASH on Medium, where people are continuing the conversation by highlighting and responding to this story.


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DPOPS FAQ — General information, expected ROI, and more!

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The DPOPS (standing for Delegated-Proof-of-Private Stake) is a brand new and unique Delegate-Proof-of-Stake consensus integrated into X-Cash, a fork of Monero which has since the beginning of the project brought new innovation to the privacy coin space (notably FlexPrivacy, public & private transactions on the same blockchain, from the same wallet).

As we are entering the beta of the new consensus soon, we want to address some of the questions you’ve had and prepare you for the upcoming update.

Most of the questions are answered here but don’t hesitate to join us on our Discord server and ask your questions directly!

FAQ ?‍♂️

Can I run the validator node on my computer?

Short answer: No, you shouldn’t run a delegate node on your own computer.
There are several reasons for that. Firstly, the xcash-dpops software only runs on Linux Ubuntu, which additionally has to be specifically configurated to forward port connection.
Secondly, people who are voting for you are trusting their votes to you and your ability to produce blocks and secure the network with maximum reliability. It wouldn’t be fair to not provide a dependable delegate node to your voters. You are also assigned a reliability score, which would be negatively impacted if you were to miss a round.

Requirements
The program will only run on a Linux/Unix OS at this time.
We recommend installing this on a Ubuntu VPS/dedicated server (18.04) for the best compatibility.

Minimum System Requirements:
Operating System: Ubuntu 18.04 (or higher)
CPU: 4 threads, with at least 2.0GHZ or more for each thread
RAM: 6GB
Hard drive: 50GB (with 18 GB of space needed per year)
Bandwidth Transfer: 100GB per month
Bandwidth Speed: 100 Mbps

Recommended System Requirements:
Operating System: Ubuntu 18.04 (or higher)
CPU: 4 threads, with at least 2.0GHZ or more for each thread
RAM: 8GB
Hard drive: 100GB (with 18 GB of space needed per year)
Bandwidth Transfer: 500GB per month
Bandwidth Speed: 500 Mbps

How many delegates are there?

At the launch of the beta, the limit of the number of delegates will be 50. Depending on the evolution of the network, and with the decision of the delegates, we will increase the number of delegates up to a limit of 100.

Why 50 delegates instead of the 100 initially planned?
We have run several polls with the community before the start of the beta, and after some internal discussions, we have decided to start the beta with a limited number of 50 delegates. The main reasoning was to ensure that we had a suitable number of delegates ready during the beta and at the beginning of the main-net, and avoid a situation where we don’t have enough validator nodes.
Having 50 delegates at the beginning also means that the bandwidth used will nearly half as much as it would be if there were 100 delegates, as in a DBFT consensus every delegate is sending messages to the others 99 continuously. We will increase the number of delegate on the mainnet progressively while monitoring the bandwidth and size increase of the blocks.

I have a minimum of 2M XCASH, and I want to stake. How do I start?

Let’s say you have 2M XCASH, on a wallet, or on the X-Bank, and you want to stake them. For the sake of simplicity, you will have to create a new wallet dedicated to staking. Once the new wallet is created, you can send the amount you are planning to stake to the new wallet.
Then you can vote for a delegate.

Can I stake from the GUI wallet?

Not at the launch. At first, it will only be possible to stake from the CLI wallet.
But it’s quite simple. Open the wallet you will stake from and type vote <delegate_name> or vote <delegate_public_address>, using the delegate information.
Your vote will be taken into account at the top of the next hour and a success message will be displayed.

How to choose a delegate?

All the delegates’ information will be listed and continuously updated on https://delegates.xcash.foundation. You will be able to choose the delegate that matches your philosophy the best (or has the lowest fee ?).

Can I stake any amount of XCASH?

Yes, provided it is more than the minimum threshold of 2M XCASH.

Can I stake from the X-Bank?

Not yet, at least not at the launch of the mainnet. We have a plan however to propose staking services from the X-Bank at a later update.

Is the airdrop still running?

Yes, the airdrop as it is now will keep running until the launch of the mainnet.

Can I change my vote at any time?

There is no limitation on the number of votes you can do. But only one vote can be applied from one wallet, and any new vote will be accounted for at the top of the next hour.
In practice, if you are planning to change your vote, you should do it before the top of the hour to make it effective quickly.

Can I stake toward multiple delegates?

Yes, but you can only have 1 vote for 1 wallet, meaning that if you want to vote for several delegates you will need to create 1 wallet for each vote.

Is my staked XCASH at a higher risk?

No, your staked XCASH never leaves your wallet, so you always stay in control of your funds.
One of the main advantages of our consensus is the use of reserve proofs to stake, which enables this added security measure.

Can multiple people run a joint node?

Yes, multiple people can organize themselves to run a shared delegate node.
They would need to find a suitable way to share the server costs between themselves.

What is the maximum amount a delegate can have at stake? Does having more at stake increase the chance of being selected to be the next block producer?

There is no maximum amount a delegate can stake. However, having more at stake than the other delegates does not increase the chance of being elected to be the next block producer.
Because the next block producer is selected with a randomized algorithm (called Verified Random Functions), everyone in the top 50 delegates has equal chances to be selected and earning the reward.

However, having more at stake than the others can be a good strategy to remain in the top 50 at all times.

Will misbehaving block producers be punished?

Delegates will have a reliability score which basically matches their node uptime. A delegate with a low-reliability score means that he/she was offline during a lot of block rounds.
However, if the delegate misbehaves in any other way (hack attempt, missed payments to stakers etc…), it is the responsibility of the voters to punish the delegate by changing their vote and stop supporting the misbehaving delegate.

How can I become a delegate?

There are several steps to become a delegate that will be described in an upcoming tutorial, but long story short you would need:
- A server matching the minimum technical requirements, with the xcash-dpops program installed and set up;
- A delegate and domain name (important! It’s your brand ?).

Then, it’s up to you to campaign and earn your place in the top 50 by having people vote for you.

When are the rewards distributed?

The block rewards are distributed at every block to the delegates' wallet.
The shared delegates can pay out the block reward to their voters every hour.

Will the block time and block reward stay the same?

The block time will be increased to 5 minutes, and the block reward will be doubled.
These changes will occur at the first block of the DPOPS mainnet.

As a shared delegate, how much fee can I take?

You can set the fee between 0% to 100%, with a granularity of 6 decimals.

How can I share the reward to people that voted for me? Do I have to send the rewards manually?

We have created the shared delegate pool, which is a website and application that will automatically calculate the rewards and pay your voters every hour based on their stake.
It works relatively the same as a pool distribution system.

How many XCASH is needed to run a solo delegate?

The exact amount to ensure to be in the top 50 delegates is currently unknown, but we can make an educated guess.
If we consider that the amount staked by delegates is equally spread between the 50 delegates (as it should eventually narrowing to), to guarantee your place as a delegate you would need to have staked 1/50 of the total staked amount.
This total staked amount, however, can fluctuate. Let’s consider the circulating supply of XCASH, currently estimated at 54 billion. Empirically, we have seen in other PoS and DPoS projects that 30 to 50% of the circulating supply is usually staked. With a conservative assumption of 50% of the circulating supply staked, it would mean that 0,5 * 54 bn. = 27 bn. XCASH would be staked.
You would need 1/50 of that staked on your delegate node to guarantee your place in the top 50, which would equal to 540M of XCASH.

Can I vote from my phone?

It will be possible to assign your stake directly from the Android wallet at launch.
Reminder: the android wallet is still in beta version. Make sure to always securely back up your mnemonic seed.

Can I spend XCASH from the wallet I voted from?

You can spend XCASH from the wallet you voted from, but it will cancel the vote you currently have on the wallet. You will need to vote again if that happens.
However, receiving XCASH on the voting wallet will not cancel your vote. You will need to vote again to update the staking amount.

Where do the block rewards go?

When registering as a delegate, you will also register a valid wallet address where the block reward will go.

Do I have to leave any XCASH on the server hosting the delegate node?

As a delegate, it can feel worrying to leave a substantial amount of XCASH on a server hosted by a third party. The system was designed to not be obligated to leave any XCASH on the server hosting the delegate node.
For example, you can register yourself as a delegate, and vote for yourself from another wallet.
This way, the wallet on your delegate node server will fill up with the block reward that can be redistributed to your voters directly.
If you are running a solo delegate node, you will need to manually empty the server wallet periodically.

Are my funds locked for a certain amount of time?

The funds are never locked in stakes. You can cancel your votes at any time and dispose of your funds as you see fit.

Do my staked XCASH ever leave my wallet?

Your funds never leave your wallet, you remain in control of your private key at all times.
This is achieved by using reserve proof, which is basically a cryptographic proof of a quantity of XCASH in your wallet.

Do I need to leave my wallet CLI running to receive rewards?

No, once you have voted, you can safely shut down your wallet program and you will start receiving your staking rewards.

Can there be only 50 delegates?

At the launch of the beta, the limit of the number of delegates will be 50. Depending on the evolution of the network, and with the decision of the delegates, we will up the limit of delegates up to the limit of 100.

How do I apply for the beta?

Anyone will be able to apply for the beta.
Although people who want to try staking will be able to join at any time, those who are planning on becoming a delegate will need some preparation. Instructions to join and video tutorials will be communicated 2 weeks before the launch of the beta.

Will the beta run on the main-net?

The beta will run on a separate chain from the main-net.
All XCASH earned and transferred from and to the alternative chain won’t be taken into account when switching to the main-net.

What is the expected return as a delegate?

It will depend on currently unknown parameters and we couldn’t give an exact number now.
But let’s take an example and assume some hypotheses to help you make your own calculation.
All calculations are made as of today, Monday, May 18th, 2020. 1 XCASH @ 0,0000153 USD

Flat reward
The current reward is around 35750 XCASH per block. When we switch to DPOPS, the reward will be double at about 71,500 XCASH per block.
Since the block time will be upped to 5 min, there will be (60 / 5) * 24 * 30 = 8,640 blocks per month.
In total, there are 71,500*8,640 = 617,760,000 XCASH generated monthly.
Because each delegate will be selected randomly, it is safe to assume that as long as a delegate stays in the top 50 during the whole month, he/she will make 617,760,000/50 = 12,355,200 XCASH monthly, flat.

In practice, the total will be lower because the XCASH reward will have decreased until the release of the mainnet.

Yearly return
Before calculating the yearly returns, we need to assume some parameters first.
We need to know how much XCASH are needed to stake to be in the top 50. We are assuming that 50% of the current circulating supply (54 bn. XCASH) will be staked, hence 27 bn. XCASH.
In theory, the law of the free market should dictate that the stake of all top 50 delegates is evenly spread. Henceforth, to ensure to be in the top 50, the delegates should have 27 bn / 50 = 540M XCASH staked. In practice, this number can fluctuate greatly. It will depend on the real proportion of XCASH that will be staked out of the total circulating supply. For the sake of simplicity, we will be using this number for the following calculations.

As a solo delegate
If you are a solo delegate, you will get 100% of the reward in your pocket, meaning 12,355,200 XCASH/month. Your only substantial cost will be to pay for the server.
If we assume the server cost to be $45/monthly (2,945,000 XCASH/monthly equivalent), it means that you will get 9,410,200 XCASH/monthly after spending.
Now, assuming you have staked 540M XCASH, it means that you are making around 1.75% return/monthly or 21% return/yearly on your stake net of the server costs.

As a shared delegate/stakers
The equation is a little bit more complicated here. Providing you are not imposing 100% fees on your voters, you will have to share the rewards with them, proportionally to their stake. But you will also have to pay for the server hosting. As a shared delegate, you should be aiming at being at least flat in your investment. For example, your stake should be higher than your voters, or you should set fees to help you pay for server cost and management.
Using the same estimate as before of $45/monthly (2,945,000 XCASH/monthly equivalent) for server hosting cost, this represents 24% of the monthly reward.
In theory, if you were to redistribute all the reward to the voters (you included) proportionally to their stake, this means that you should hold at least 24% of the total stake of your shared delegates to break even, meaning 130M out of 540M XCASH staked.

In practice, it will be normal and expected that the delegates set the fees to pay for server hosting costs (is it normal to have higher fees in DPOS system than in POW pools).

The delegates could also set the fees to a minimum of 24% to pay for the server hosting service. If the delegates set the fees at 24%, the return will be 1.75% return/monthly, or 21% return/yearly on your stake net of the fees.

Note: The return will change drastically as the price of XCASH changes. All of these calculations are made with the current XCASH price 1 XCASH @ 0,0000153 USD, and an estimation of the server cost of $45/month. We advise you to do these calculations again with your own parameters.

Latest updates ?

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DPOPS alpha report — Retrospective, enhancements, and future

1*14OBlsqV0oNIbxZLabFb3g.png

Dear Community,

Today, we would like to take the time to present you a report on the DPOPS alpha test phase and give you an overview of the tremendous progress that has been made. We will go in-depth into the changes, improvements, and enhancements of the consensus, as well as reminding some of the aspects of this next update.

We will also start talking about the organization of the beta, which will begin in the following weeks as the alpha phase is in its final stage.

What is DPoPS?

DPoPS stands for Delegated Proof-Of-Private-Stake, a custom DPoS consensus implementation on the X-Cash blockchain.

Delegated Proof-of-Stake (DPoS) is an efficient, decentralized, democratic, and flexible blockchain consensus framework that has been actively researched and implemented during the past years. However, the private nature of a coin can make DPoS implementation challenging as balances are obfuscated. As a representative system, DPoS needs the right balance of transparency to remain efficient, and most privacy coins cannot cope with missing part of their opacity.

To address this challenge, we have developed and proposed our custom DPoPS, an improved Delegated Proof-of-Stake algorithm for privacy coins. DPoPS inherits all the advantages of the original DPoS consensus while offering the opportunity to be used in a privacy coin.

From a technical implementation perspective, we have chosen to use a combination of Delegated Proof-of-Stake and delegated Byzantine Fault Tolerance (DBFT) with the use of Verifiable Random Functions (VRF) for the block producer election. As X-Cash is a privacy-based coin where balances are hidden, Monero’s reserve Proofs are extensively used through the election process.

There are three different actors in the DPoPS consensus algorithm:

Shared delegates

The shared delegates are people that wish to secure the network by running a node but don’t necessarily have enough coin to be in the top 100 delegates at all times. Stakers will be able to assign a vote to these delegates, assuming they share the same values!

The shared delegates have the possibility to retribute their voters by redistributing a share of the block reward to them or at least are expected too if they want people to keep providing their stake to them.
They can also decide to use the block reward to fund other projects in the X-Cash ecosystem.

In theory, you can run a shared delegates nodes with 0 XCASH! You would just need to convince people to vote for you ?

Solo delegates

The solo delegates are holding a substantial amount of coin, enough to be elected as a delegate and run a node without anyone assigning their stakes to them.
They will be able to secure the network and claim the block reward for themselves.

In theory, a solo delegate should hold at least 1% of the circulating supply (a bit over 500M XCASH at the moment) to be sure to stay in the elected 100 delegates.

Stakers/voters

Stakers are people who would want to participate in the network without the possibility or the desire to run a node. They can start staking with a minimum amount of coins (2M XCASH at the moment) to a shared delegate to help them get elected, in exchange for a share of the block reward.

Because of the design of our DPoPS consensus, the stakers can keep their stake in their own wallets. They keep the control of their stakes at all time!

? We need your help!

As we are preparing for the beta and soon the launch of the mainnet, we would like to ask you where do you see yourself in this setup. You can anonymously fill up the below form; it will only take 1 minute and enable us to better prepare for the beta, ultimately reducing the time to launch!

?Google Form: https://forms.gle/xp7KC9SF9RtfAWu49

Alpha phase report

We would like to preface the report to take the occasion to thanks every participant of the alpha phase, without whom it wouldn’t have been possible to find all these paths of improvements and potential bugs. ?

As you may be aware, the alpha phase of the DPoPS lasted for longer than we initially planned. First of all, this can be explained by the simple fact that this new consensus is not an adaptation or fork of anything existing in the cryptocurrency space. It’s an original work, starting from zero and is now soon reaching a state of an official release.

Although we have widely underestimated the time needed to validate the first iteration of the DPOPS and the strict application of our design on paper, having a working and bug-free system is mandatory for an update of this size. We also took the time to prepare the groundwork for the next technical features of X-Cash, as our development roadmap will continue right after the release of the DPOPS mainnet.

In this report, we will go through a selection of features and improvements that have been made and were necessary for the DPOPS to enter its next phase of development.

Auto-installer script

1*QLjnfqHS-jVbP_z-0t3ZzA.pngA screenshot of the installer script.1*EJPOIFOy-hRLfo3p6SiIvQ.pngThe script is installing and setting up every part of the DPoPS.

At the early stage of the alpha, the installation of the DPoPS needed to be done mostly manually (you can have a look at the historical instructions here ? https://github.com/X-CASH-official/xcash-dpops#installation-process, it will surely scare some of you if you were planning on hosting a node ?).

One of the first obvious tasks was to improve user experience and provide an easier way to install xcash-dpops to run a node.

That is why Zach, with the suggestion of Twinkie#2421, a skilled alpha-tester, has written the auto-installer script enabling in one simple command to install and set-up the DPoPS node easily.

1*9WKiNm769TxBEM300nMhKg.pngOnce the installation is complete, the installer will generate a delegate wallet where people can assign their stake. So much easier ?

Anti-DDOS system

This issue was first brought by picatextra, an engaged participant of the alpha-test and a seasoned bug hunter.

In any system where communication between peers is essential, an attacker could decide to flood a delegate to deny him/her a round of block creation. This has been seen a lot in other DPOS consensus, whenever the next block creator is known (in a round-robin type system), to deny them the next block creation and reward.

The delegate selection being random in the DPOPS, there is less incentive in using a DDOS attack as the attacker wouldn’t know in advance who would be the next block creator. This being said, any delegate must be able to withstand this kind of attack.

And when we say the selection of delegate is random, it’s truly random ? with our implementation of Verifiable Random Functions ?

This has been done by limiting the number of simultaneous communications to 20. Additionally, only the top 200 registered delegates (with a minimum of 100M XCASH) can send messages to other delegates.

Delegate Websites & Supervisor

To easily see the list of delegates, we created a delegates explorer website that gathers all information about the elected delegates and their statistics, helping you choose who to vote for a delegate.

We are also providing the delegates pool website, which will provide shared delegates the possibility to easily and automatically retribute people voting for them. No need to send the rewards manually and stakers can check their latest payment, such as in a classic mining pool website.

Finally, the delegates’ supervisor is a light webpage hosted by the delegates’ servers to check your delegates’ statistics quickly (before you would have needed to check in the CLI with specific commands ?)

All of these websites are part of the builders’ program, and are open to contribution!

Code Coverage

As the xcash-dpops will be part of the builders’ program, any community additions will have to pass a set of unit tests to ensure that every new integrated feature will not prevent another one from working correctly.

With that in mind, it was important that at the beta stage, most of the code is covered by unit tests. With 457 unit tests, the xcash-dpops code coverage is above 90%.

Performance enhancement

Lighter and more efficient messages

We changed the message sending system from a “send and receive” to a “send and close” style system. In short, this enables a block verifier to create a connection to every block verifier, send them data, and not wait for the response, greatly reducing the time it took to process data (from up to a minute to 10 seconds).

Before, the message function was using threads (pthreads) to send messages, which has been changed to a system combining worker threads (using phtreads) and event-driven asynchronous processing using file descriptors (epoll) ?, enabling reduced CPU usage (only one CPU thread is required now to send all block verifiers a message in under 3 seconds).

We also improved the way the node receives messages to make it quicker and more efficient (using a C-style memory trick to erase the raw TCP socket deliminator string, instead of using a string_replace call per received message ?).

In short, less data is transmitted with the same amount of verification, making it quicker and using less bandwidth.

Better p2p syncing

The syncing system was reconfigured to include multiple hashes at once for reserve bytes and reserve proofs, reducing the number of messages per database collection, reducing the syncing time. Adding data to the database has been optimized to be faster as well.

Additionally, we added a quick sync mode for block verifiers to participate in the next round they are joining in by quickly syncing their data from the seed node.

Decrease bandwidth and complexity

In every block creation process, the delegates need to exchange information. These messages include VRF information (have a look at page 25 of our yellowpaper for more information on how we use VRFs), the block and transaction data, the data necessary for dBFT verification, etc.…

In the first iteration, the number of messages sent was initially at seven (7) and was reduced to four (4), which greatly decreasing the blockchain size increase rate and bandwidth use.

LXC Containers Support

LXC Containers enables people to install xcash-dpops on a machine that is not necessarily running Ubuntu 18.04, which is required for running a node. However, it is recommended to use the auto-installer on a Ubuntu-running server.

Testing infrastructure

Reuniting all alpha testers from different timezones on the same schedule limited the number of tests we could do during the week. It was important to prepare a test environment that would give us no limit on the number of tests that we could do.

That is why we have worked and designed a test environment of 20 virtual machines hosted in our server infrastructure. This enabled us to multiply the number of weekly tests by nearly 10, and while it took a lot of time to set up the environment, it enabled us to speed up the alpha phase greatly.

The Next Step

Above are just outstanding features and enhancements that have been made during the alpha test-phase, to only cite a few. In practice, more than a thousand commits were made since the beginning of the alpha, and it would be futile to list every bug fixes by them. In these commits, there is also the groundwork for the next features of the X-Cash blockchain, to facilitate the development of the next steps in our technical roadmap (token creation, smart contracts, etc…).

But before that, we need to validate in a real setup the DPOPS and make the switch to the new consensus on the mainnet. We are organizing the beta phase as we are speaking, while the alpha is coming to an end. This test phase filled its role perfectly, enabling us to test, validate, and improve what we had designed on paper.

This time, everyone will be able to participate in the beta, as we want to test in a close-to-reality setup. It may seem a bit blurry at the moment, but we are preparing a series of tutorials and videos to help you join. So rest assured, it will be made accessible for everyone.

In the meantime, please help us by filling out this form (if you haven’t already) to help us designing the beta ? https://forms.gle/xp7KC9SF9RtfAWu49

We hope that by reading this article, you are starting to get as excited as we are to see more about this new consensus and participate in the validation of the network, and to start staking.

We are more than ever grateful for your support. ? We will keep you posted for more news really soon!

Latest updates

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Dear Community,

First of all, we thank you for your unwavering support, and we hope that you are safe and healthy in these difficult times.

Today, we are glad to finally announce the official release of the X-Bank to the App store?

Available worldwide on iPhone devices, you can download it here ? https://apps.apple.com/fr/app/x-bank/id1480299373.
Or you can just search for keywords x-bank or x-cash ?

As most of you may know already, the X-Bank is a secure and online storage solution for XCASH. Providing instantaneous and free transfers to other X-Bank accounts, it is a safe and easy way to secure your XCASH, and access them directly, from anywhere.

1*BQ_KQug7uAf3dcYMfItXsw.pngThe application is light and user friendly

The X-Bank iOS app will harbor the same functions as the web application. You will be able to check your balance, payment history and send payment instantaneously to other X-Bank accounts. You can also directly register for the airdrop.

1*2jrZ4xivI-lCB4eE5cLh0w.pngDark mode is also available for better battery life and will be easy on your eyes ?

Furthermore, the app is open-source and will be maintained and improved for free, forever. The application will join the public repositories of the X-Cash-Official organization, and you will be able to join in the development to improve it, and earn bounties!

X-Bank Update

A new device means new access to your account. To help improving security, we are working on a new and improved session management system. In practice, you will be able to see a log of your different devices and IP that connected to your account.

Once DPOPS is live, we are looking into proposing staking directly from the X-Bank, for people who don’t want (or don’t know) how to do it from a regular wallet. This is still in discussion but your feedback is greatly appreciated.

What’s next?

So now we have a way to manage your XCASH from Android and iOS devices. We believe that eventually, they will replace most of the means to send and receive XCASH currently available. But some people prefer using desktop wallets, and we have had a lot of requests to improve our current GUI Wallet.

That is why we will release the GUI wallet as an alpha version, open-source through the Builders’ program. You will be able to try it, but it will need a lot of additional development before being able to be officially released. But we know our community, and we know that some talented people there will be able to help with the development, through bounties or contributions.

And the DPOPS?

The alpha test is nearly done, and we are currently preparing the organization of the beta in parallel. We are going to write a recap of everything that has been done during the development process, the improvements and enhancements of this new consensus.

It will be a very long read and packed with information, so we are preparing a special article for that. We will also give you more ideas on how to join the beta, how to stake, how to be a delegate etc …and what to expect for the future of XCASH!

? As always, thank you for your attention, and don’t hesitate to talk with us on Discord: https://discordapp.com/invite/4CAahnd

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Dear community,

I hope that every one of you and your dearest ones are in good health during these trying times. With France’s mandatory lockdown, we had to adapt quickly to organize ourselves to work remotely, but we came to a good balance and managed to keep our services online and without significant issues. Even in these difficult conditions, we are thriving to deliver what we have planned for the current year.

And so, we are happy today to announce the release of the Android wallet for X-Cash as the first contribution of the Builders’ program!

In case you missed it, have a look at our previous Medium article that explained the builders’ program and contribution to the X-Cash Foundation.
Video record of the X-Cash Android wallet screens

?Android Wallet

The Android wallet (beta) is downloadable on the official GitHub release.

It has been requested for a long time now, and we are glad to finally put it in your hands!

The X-Cash Android wallet will enable you to easily and securely manage your XCASH, directly on your phone.

You can manage several wallets directly on the dashboard, add contacts to your address book, and once DPOPS is released on the mainnet, you will be able to vote for a delegate directly on the wallet.

Thanks to the contribution of @snakewaypasser, you can now download and try the new wallet on your Android phone (compatible with Android 4.2+).

The Android wallet is the first successful project of the Builders’ Program, our high-reward bounty program to retribute contributions to the X-Cash ecosystem.
Our dear @snakewaypasser will be rewarded 35,000,000 XCASH for the completion of this project.

All transactions made from the community funds will be public and written in our monthly financial report.

So what happens next?

? WE NEED YOU!

The first project is done, but it doesn’t mean that the wallet is completely functional and can’t be improved. As a beta version, you will encounter bugs and services issues. We will need you to help us find these issues and report them.

And as in any open-source project, you will be able to participate in the development. Have a look at our contributing guidelines if you want to see how to develop with us while keeping the project clean and sound.

As people will encounter issues and report them, we will know where to concentrate our efforts. To some of these issues, we will assign a Bounty Tag.

The tag will indicate issues that we believe can be undertaken by a member of the community, and for which the X-Cash Foundation will give a reward for the completion.

As of today, you can participate in the development of every repository in the X-Cash Foundation organization, so keep your eyes open ?. Many more will be added as the ecosystem grows.

“I want to work on a project!”

We love your enthusiasm! That is why we are creating the X-Builders Projects ?. This repository will be a hub of all the projects that the foundation will fund with the community fund. Members of the community will also be able to propose projects that they wish to pursue and for which they need funding.

These projects will usually span for a few weeks to even a few months, and the reward will reflect the impact that they have on the ecosystem.

? Conclusion

While we are thrilled to be able to offer you today a secure and easy way to manage your XCASH on Android devices, we believe that this wallet is the first stepping stone to the builders’ program. As time goes on and with your help, we will increase tenfold our ecosystem and put X-Cash at the place it deserves!

Thank you for your unwavering support, and keep your eyes open for some news soon ?

⚠️ Beta Disclaimer

This release is a beta version of the X-Cash Android Wallet, in the process of being tested and improved before its official release. This being so, the X-Cash Foundation does not give any warranties, whether express or implied, as to the suitability or usability of the wallet.

The X-Cash Foundation will not be liable for any loss, whether such loss is direct, indirect, special or consequential, suffered by any party as a result of their use of the X-Cash Android wallet.

Should you encounter any bugs, glitches, lack of functionality or other problems, please raise an issue after checking if any other duplicates issue isn’t already signaled.
If you find a potential funds loss bug or hack, please contact us on email:
security@xcash.foundation

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Dear community,

In the past few months, we have been working intensively on the various projects we have for 2020.

Today, we want to tell you more about some big changes to the X-Cash project.

Since 2019, we have had a growing number of individual contributors and an increasing number of requests to help us working on this project. To address these requests which are extremely valuable for us, we have prepared a comprehensive open-source framework for contributors.

The framework includes general guidelines about contribution, templates to submit requests and guidance for the retribution in X-Cash.

? X-Cash Foundation

To provide more efficient governance and add another layer of transparency, we have decided to create a non-profit organization called The X-Cash Foundation.

This foundation will have three key roles within the X-Cash project:

Definition of the long term vision & roadmap for X-Cash

Management of the segregated community funds and their allocation

Governance of the project & Builders’ Program

In the sections below, we are going to detail the structure we have set up and how contributions will have to be made from now on. The fundamental goal of this structure is to allow us more efficient management of the projects while making sure we are very consistent in terms of retribution.

? Builders’ Program

TL;DR: Funded community-driven projects to develop the X-Cash ecosystem. And a new mobile wallet.

To its core, X-Cash has always been an open-source project. People who came forward to propose their help and participate in the project in the hope to make it better make a good part of the team. However, since the beginning, X-Network has been the sole maintainer of the code and different programs relating to X-Cash. We have brought you the GUI wallet, the X-Bank, X-Payment, FlexPrivacy, etc… and soon we will be the first privacy coin operating with a custom DPOS consensus.

We have established the base of the vision for the X-Cash project. Today, we believe that we arrived at a point where we can open the gates and bring people to help us carry this vision.

So, what’s the builder’s program?

The builder’s program will enable people to participate, develop, and promote the X-Cash Foundation through the funding of community-driven projects.

We call? Builders the people that propose or undertake the community-driven projects

In practical terms, we will create a centralized hub for the community to create and propose projects, ask for funding, and make their case to bring the project to light.

The founding team will also propose projects to the community, where anyone will be able to apply and propose their skills to complete the project.

These projects will be large endeavors and could span several weeks depending on the complexity, and the funding of the project will reflect the amount of work needed. In practice, the Foundation will establish project milestones with the Builder to split the payments and ensure the sustainability of the project and builder.

? This is still a work in progress, and we will describe the program in its own article really soon, but in short:

  • The projects can fall in three categories (Development ?‍?, Marketing ?or Others ?)
  • A Builder proposing a project would have to fill thoroughly a form for the team to consider. Notably, a description, budget, background, milestones, cost-benefit analysis, etc…
  • The projects should always be related to the X-Cash Foundation and the promotion of its ecosystem. We are thinking notably of Ledger Integration, iOS Wallet, JS Libraries etc…
  • We will integrate a way for the community to vote for projects that would like to see first.

The first project

In the background, we have run off a first iteration of the program with a willing member of the community. That is why today we are glad to introduce SnakewayPasser who built on his own a fully functioning Android wallet for X-Cash.

1*1djnNbjuQaNK0t1GHaZlkA.pngScreenshot of the Android wallet front page

For the moment, the wallet is not officially released yet. But soon we will integrate it into our official GitHub organization and enable other people to participate in its development (localization, theme etc…) for bounties.

With the Builders’ Program, we are hoping to see this kind of project and initiative multiply, growing the X-Cash ecosystem even more!

SnakewayPasser will be retributed with the Builders’ Program fund, which we are detailing more below.

? Community Funds and Airdrop changes

TL;DR: Adjustments to the current airdrop (30,000 XCASH/users), builders’ program community fund is 5,8B XCASH, and monthly financial reports coming.

For a few months already, we have had discussions about making some changes to the airdrop and allocate more funds to bug bounties, community funds, etc…

These discussions had always brought some heated arguments against changing the airdrop, but in the vast majority, we observed that the community is positive to redirect the airdrop funds toward project funding for X-Cash or a more positive promotion.

That is why, starting this month, the current airdrop will be adjusted and we will inject all of the remaining airdrop pool in the builder’s program community fund.

As you may know, once the mainnet of our Delegated-Proof-of-Private-Stake rolls out, it will be possible to stake a minimum of 2M XCASH by voting for a delegate and earn rewards by participating in the network.

Until it is possible to stake, we will continue a minimum airdrop of 30,000 XCASH to every user in the X-Bank who hold 2M XCASH and registers.

Most of the current claiming rules will be unchanged (you will still need 2M XCASH to register), however, the airdrop will be a bit different:

  • We want to reward those who have been supporting us until now, so we won’t accept the registration of accounts created after this article.
  • The number of referrals won’t increase the final amount. It will be a flat 30,000 XCASH for everyone.

We are excited to be able to fund projects such as the Android wallet, which we believe brings much more value to the project than the airdrop did.

Builders’ Program Community Fund

Because all of the remaining airdrop pool is going to the builder’s program community fund, it will have 5,800,000,000 (5,8 Billion) XCASH (5B remaining from the airdrop pool + 0,8B that we have been provisioning from the last airdrops) at its inception.

The community fund will only be used to pay bounties, contributions, and to fund projects.

Development and Financial Report

As one of our main values is transparency, we will provide every month a financial and development report of the spendings and fundings of the Builders’ Program Community Fund. The wallets containing the Community Fund will be held and managed by the X-Cash Foundation and will be fully auditable by anyone with the help of reserve proofs.

Also, every payment toward community projects will be made using public transactions and displayed in the monthly financial report.

? Open Source and Contributions

You may have seen in the past few weeks, we have been making some changes to our GitHub organization to have a better framework for contributions. Pretty soon, people that want to contribute to the variety of X-Cash related programs will be able to!

1*zFzUq_i0BQ8OHjsmOBI97w.pngAll of the organization repositories will be clean up to enable easier contributions

When someone makes a bug report, or asks for a new feature or enhancement through GitHub issues, an active community member will be able to take charge of them and propose solutions or work on the code directly, as in any open source project.

While free contributions are the centerpiece of any open-source project, the X-Cash Foundation will retribute some contributors with XCASH depending on the difficulty and the time taken to finish the task. We are also thinking about launching a contributor of the month program where the most active contributor will get a bonus every month.

? You can already have a look at our CONTRIBUTING guidelines.

There will be multiple ways to participate in the development of the X-Cash ecosystem, and we can’t wait to onboard skilled developers and contributors!

? General News

DPOPS Alpha phase

The alpha phase for our DPOPS consensus has been running for quite a while now. We understand that most of you are eager to start voting, creating a delegate and staking and you will soon be able to. We thank you for your patience.

Our mindset has always been to deliver a polished product. For something as critical as the creation from the ground up of a new consensus, it is imperative that we spend time testing, testing, and testing again.

The alpha phase has enabled us to pinpoint many enhancements, changes, and general UX improvements to ensure that the experience of using DPOPS is as smooth as possible.

Here is a breakdown of what has been done and what remains in the scope of the alpha phase:

Core functions
100%

Core blockchain functions
100%

PoC mining blocks
100%

Stability test
85%

Shared delegate functions (API and auto payment to voters)
90%

Delegates explorer
95%

Installation script and containers
80%

Bug tests with alpha-testers
80%

New GUI Wallet

These past months, we have also been working on the side on a new multi-platform General User Interface wallet to store XCASH securely. It is long overdue that we prepared a new GUI Wallet, as the current wallet still harbor the first version of the X-Cash logo ?

1*cRRQJUdbtP09J8C_VOur_Q.pngAn early build of the new GUI wallet

As in any other program of the X-Cash Foundation, you will also be able to contribute to the development of the wallet. We will notably propose bounties to, for example, increase the test coverage, create new themes, develop plug-ins, etc… So if you know your way with Angular, keep an eye on GitHub ?

X-Bank iOS App

1*qQObB2UdusVKAmAQAfCMQw.pngScreenshot of the X-Bank iOS app

Additionally, we have been working on porting the X-Bank to an official iOS app! We have worked a lot on design and user experience. We should be able to release it officially very soon, once we have had the approval by the Apple App Store.

1*qOiiHgbmZ7_LHbZiucqavA.png

? Conclusion

Thanks to the builders’ program, we believe that the X-Cash ecosystem will grow tenfolds. This comprehensive framework will help us easily on-board skilled people to the project and ensure the continuous development of X-Cash.

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Dear community,

2019 has been an intensive year of efforts through the development and release of many milestones of our project.

What is X-Cash

1*gBSMmT749z5j0IvuwuJ8wA.png

As a reminder, X-Cash is an open-source and no-ICO cryptocurrency project. Our goal is to build a privacy-centric protocol that offers the best trade-off between anonymity and transparency. To this goal, we have been building since 2018 a cryptocurrency derived from Monero that includes Hybrid transactions, Delegated Proof-of -Private-Stake consensus and Sidechains technology. In 2019, we started to build with the community additional products such as X-Bank and X-Payment to power this ecosystem.

If you care about data privacy, want to help us build a new type of blockchain protocol, or just want to know more about what we do, feel free to check our docs here.

Delegated Proof-of-Private-Stake (DPoPS)

1*Le_uW4H1m6Mw0UN12S0nOw.png

Last year, we have worked heavily on the development of the core of X-Cash which is its new consensus protocol. DPoPS allows a faster, more secure and efficient consensus in our blockchain and is also the first consensus protocol to combine privacy and delegated Proof-of-Stake.

In 2019, we released the yellow paper and have extensively developed the first version. As of today, we are counting a total of 814 commits and the dPoPS is being validated as part of the alpha tests. Since October, we are testing it with selected testers and many additional improvements have been made.

In 2020, after validating all the components from delegates elections to block production, we are now closer than ever to switch to the open beta which we will announce in the next weeks. The beta will be the final public testing of DPoPS before announcing the switch to mainnet.

After more than a year of development, DPoPS will offer new perspectives in our network and better decentralization. Thanks to it, we will be able to implement sidechains during the rest of the year as well as other exciting features on top of the built-in decentralized database.

New exchange listings

In 2019 we have decided and announced that we would not plan to list on additional exchanges. We believed the panel of existing exchanges was sufficient and in line with the advancement of the project. Also, considering the fact that X-Cash remained a self-funded project, we did not want to burn additional funds on listings and preferred to focus 100% on the development.

In 2020, following the release of DPoPS, we will have another feature and reason to grow further our community. In that context, we will resume application to additional exchanges that are in line with our transparency and quality values.

Our goal for this year is to get X-Cash listed on a tier 1 exchange but for this to happen we will need to keep delivering qualitative products and extend our user base.

X-Bank

In 2019, we created the X-Bank to allow easier funds management and online wallets operation as well as distributing the airdrop in the easiest and fairest manner.

1*0vb0XxY7iVm6dYLEbue0pg.pngX-Bank is an easy-to-use interface to manage X-Cash, subscribe to Airdrop and redeem coins

In 2020 the X-Bank will grow further and follow the developments made to X-Cash. Below are some of the features we are reviewing:

  • Cryptocurrency Exchange
  • Swap Features between XCASH and MXCASH (X-Cash issued on another chain)
  • X-Bank Mobile App

X-Payment

2019 was quite intense for X-Payment with the release of Both the Alpha and Beta versions.

1*bR35fbNH50MazsAmlwsIJg.pngBetween the Alpha (left) and Beta (right) version we reworked the UX of X-Payment from scratch

In the last version, we added a new interface that provides an easier user experience as well as gaming pool features and a 5seconds onboarding process. If you want to play with X-Payment in your own community, all you have to do is adding the bot and start playing with it!

For the next year, we want to keep on improving X-Payment based on users' feedback as we have done in the past. For 2020, we notably have the targets to make it open source and onboard more builders with amazing ideas in its development.

Wallets

In 2019, we have preferred to focus on the 1st layer of the X-Cash blockchain as we had first working versions of GUI and CLI wallet. But we heard you and acknowledge how having an easy to use wallet is important from a user perspective and general cryptocurrency adoption.

Making X-Cash easy to use is our next priority for 2020. To this extent, we have started to work on the GUI 2.0 that we will release in a few weeks.

The wallet will onboard all XCASH cryptocurrency features (send, receive, contact management, sign data, reserve proof…). In the future, we will add the possibility to vote for a delegate directly from the GUI wallet and managing reserve proof and their voting destination.

1*ycuYAIXtcM2M_K1_z5dt6Q.pngThe X-Cash 2.0 wallet will be available on OS X, Windows and Linux.

Community

Like in any cryptocurrency project, the community remains one of the most valuable components. In 2019, we started to communicate more about the project through regular medium updates, interviews and AMA with the community.

In 2020, the release of DPoPS will strengthen the community by unifying users behind their delegates. To go further, we want to offer the opportunity for anyone in the community to join the team and help with the development of X-Cash.

We have been preparing a Builders Program where you will be able to contribute through Github in many areas: development, content creation, community management, and business development.

If you are interested, please get in touch with us on Discord and we will provide more information about the timing.

Miscellaneous

And because we could not write about everything here is some additional interesting stuff that was done during the year:

  • A segregated funds tracker: transparency is key and we wanted to allow anyone to track what we are doing with the premined funds
  • Continuous releases of X-Cash Core including our mining algorithm variant Cryptonight HeavyX
  • Filed a patent on anonymous digital voting
  • Joined the startup incubator Pépinière27 and received grants from the French Public Investment Bank
  • Created a non-profit organization to better manage the governance of X-Cash
  • Attended more than a dozen events to share the passion of blockchain and crypto, notably in France, Austria, Malta, Singapore, and Hong Kong.

In 2020, we will keep on working diligently and with transparency. We are confident this year will show great results for the cryptocurrency space and more particularly X-Cash as we continue to deliver.

Thank you for your continuous support.

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2019 retrospective and what to expect in 2020 was originally published in X-CASH on Medium, where people are continuing the conversation by highlighting and responding to this story.


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X-Payment Beta Release — Easy onboarding, new UX & features

1*MW91CegY8FHEO4yTxWq6Sg.png

Dear community,

Today we are releasing the latest version of X-Payment, which features a significant number of upgrades. The goal of this version is to be an intermediary release between the alpha and the production-ready software that we want to deploy next year.

This version will allow us to validate the following components of X-Payment:

  • New UX
  • One-click onboarding of communities
  • Testing of the next features

Also, feel free to have a look at our new X-Payment web page!
(We have also hidden 5 clues to find codes to claim on the X-Bank and worth 2M each!) ?

New UX

With the new version of X-Payment, we are releasing a completely revamped user interface for all features. We believe this will significantly ease the understanding of how X-Payment works while setting the graphical standard for the next functions to be added.

0*e9XM6-ZbrFhw4Mka.pngReceiving X-Cash through X-Payment for the first time

The screenshot above highlights the message sent to a user who is receiving a first payment. This first payment and message are extremely important because as we onboard more and more communities within X-Payment, new users will be reached. It is likely that these users will have never heard of X-Cash or even cryptocurrencies which is why we want to bring in some education at this stage.

0*Zh8ANslBabfj6HNQ.pngWelcome page of X-Payment

The next example we share above is the Welcome page that provides some basic explanation and the first functions to get started. We also refrain that X-Payment should always be used as a daily micropayment service and we highly recommend not using it as a primary method for storing your funds.

One-click onboarding of communities

X-Payment is built to be used by every Discord Communities.

Because we are convinced of its potential and its added value we have decided to release it for free before open-sourcing through our GitHub.
0*3x98r1MJ1oJA3Rtt.pngNew commands have been added for the community owners to better manage their X-Payment integration

But we still see it as a tool that can be mutually beneficial for users and community owners. For this reason, communities can set up their own fees and start generating revenues stream that can help them finance their activities. Following the free logic behind X-Payment, we have chosen to not take any percentage from the community fees either.

Onboarding X-Payment takes only 10s, just browse the following link, follow the directions and add the bot to your Discord, everything will be set up automatically and you can start playing with it! We are also offering free coins to new communities to support the expansion, contact us on Discord!

Gaming Pools

As Discord remains mostly used by gamers, we want to develop a unique feature that will enhance their gaming experience by using X-Cash as a betting token.

0*oR-juWrv4De9-JgU.pngExample of a Gaming Pool: players pay an entry fee and the winners get to win the pot

This feature offers the possibility to create gaming pools and bet X-Cash on the outcome of a game. Once the game is done, users can vote and the coins are released to the winners.

We have tried to make the gaming pools as user-friendly as possible although we know there is significant room for improvement.

We have set up a specific governance system where the players are asked to vote on the outcome of the game. There is an honesty score embedded within each user so that others can assess their credibility. We are convinced this system can be improved so any feedbacks are more than welcome!

0*pGlNx9Np-AIogApN.pngEach user have a Gaming Pool profile and can track their earnings or setup new gaming pools

The future of X-Payment

We are excited to receive feedback for this new version which will be the last before the mainstream release. Feel free to onboard your community, organize gaming pools and share with us your feelings and what should be added next.

We have a great development pipeline for X-Payment in 2020. Through the contributor program, we are counting on everyone to help us build the next versions!

If you are interested to help on the development and the marketing sides of X-Payment, please contact the team directly on Discord.

Thank you for your support!

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Dear X-Network Community,

As you know, we are thriving to provide innovation in the cryptocurrency and blockchain space. Today we are excited to announce that the alpha version of the dPoPS code is done and that we have processed through a series of internal tests that were successful.

Therefore, we are ready to move forward on live tests with the community. Once these tests will have been passed and are successful, we will be ready for live deployment.

What is DPoPS?

DPoPS is the first delegated Proof-of-Stake blockchain consensus protocol implementation in a privacy coin. This consensus algorithm has been studied and developed by the X-Cash team as part of the development roadmap for more than a year.

The main components are recapped below:

  • 100 elected delegates are in charge of the blockchain consensus
  • Stakes can be revealed and tracked through the use of reserve proofs
  • Block producers are elected from one block to another in a random fashion thanks to the use of Verifiable Random Functions
  • Removal of alternative chains, the number of confirmations needed can be lowered significantly

For more information, you can read the dedicated yellow paper.
The source code is made available under the X-Cash DPoPS repository.

DPoPS implementation timeline

To ensure a smooth switching process as well as validating the technical components, we have chosen to follow this indicative timeline:

  1. Alpha closed testnet — Monday 7th October — up to 20 participants
  2. Beta open testnet — Monday 21st October — up to 100 participants (indicative)
  3. Delegates votes open on mainnet —Friday 1st November (indicative)
  4. Mainnet consensus switch — Monday 4th November (indicative)

As of today, it remains hard to assess how long the tests will run for; they could greatly vary based on the potential issues we encounter. Therefore, the above timeline for steps 2., 3. and 4. remain extremely indicative at this stage.

How to participate

To participate in the Testnet, you need to make sure you have familiarized yourself with the installation steps described in the documentation. Please note some basic technical knowledge about Linux commands… etc is required until a full installation pack is provided.

If you wish to join the alpha closed Testnet, please fill this application form https://forms.gle/1jh74K2JvjkJ5HDr9. We will review all applications to fill the 20 places for the closed Testnet.

A dedicated Discord channel will be set up for alpha testers in order to facilitate communication between the dev-team and the testers.

Bug Bounty Program Announcement

As previously mentioned, we are launching a bug bounty program to retribute all vulnerabilities/bugs/issues contributors have found. This will also allow us to compensate alpha testers who are and have been involved in the DPoPS from the start.

The bug bounty program will start from Monday 7th October and will run until depletion of the funds or from a team consensus of program premature stop.

As of Monday 30th September 2019, 500,000,000 XCASH (20k USD at current market prices) have been allocated to the program for the alpha and beta test. Please note that we are currently in discussion as to whether or not extend the program to a permanent state after DPoPS is live, depending on the community involvement.

If you wish to participate in the bug bounty program for the alpha-test, send your application and join us in making DPoPS better. The bug bounty program details will be released on Thursday 3rd October.

Conclusion

DPoPS is an innovative implementation of DPoS under a privacy coin that has been designed by the X-Cash team. Along with the DPoPS test phase, a bug bounty program will be launched. The idea behind is to have anyone from the community contribute to the security of this new consensus algorithm.

The tests will be rolled out progressively throughout the month of October. If successful, we should be able to process to the mainnet switch in the early days of November.

DPoPS has the potential to become one of the best dPoS implementations and the community will play a key role in the test phase and future developments. More than ever, we are counting on your support.

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Dear X-Network Community,

During this summer, and despite some well-deserved vacation, the team has been quite active and significant progress has been made.

Products & Technology

X-Bank

The X-Bank remains one of the primary features of our ecosystem by allowing easy management of XCASH for our users. During the lasts two months the team has been able to deliver some upgrades:

  • iOS app (soon in App Store)
  • X-Bank security and reliability improvements (networking improvements, internal authentication of services, applications access control, etc)
  • X-Bank balance operation processing engine (in progress, will be used for payment gateways and X-Payment integration)
  • 2FA process improvement (released soon)

Due to many feedbacks regarding the 2FA process, where users could activate it without having scanned the code in 2FA authenticator, we have performed some modifications to make it more user-friendly. The focus is now on improving the infrastructure in anticipation for the X-Payment onboarding (and some other features).

X-Payment

We would like to thank all users who participated in the X-Payment alpha, as well as the communities who accepted to help in this testing phase. We are now working on the Beta version which will include the following additional features:

  • Community Management Fees
  • Gaming Pool ( ← This one is really nice )
  • OTC conversion
  • Instantaneous Onboarding of Communities

The targetted release date for X-Payment 0.1 Beta is set for October 30th, 2019. We really think you will like it. On another note, the X-Payment website is coming!

1*Qz9VYxwKwvlmktYOQOYT7A.pngThe X-Payment website will have some exciting interactions and even some easter eggs!

Support Desk

0*Py4HzgZF6ojC8Sbg.pngFor any issue related to X-Network products, you can now use the Support Desk to raise a ticket

To better aggregate and answer the growing number of support requests, we have worked on a dedicated support desk solution. This customer portal will be launched on Friday 13th September and we hope it will allow a more efficient treatment of the assistance needs.

Documentation

According to the latest poll, it seems you were interested in a document of $XCASH. Although it is far from ready, we started working on it this week.

 — @XCashCrypto

As teased in the summer, we have worked extensively on the X-Cash documentation. We are currently finalizing the last details about it and it should be ready to be shipped before the end of the month.

In the context of the DPoPS & X-Payment Beta release, we are also adding step-by-step guides and additional resources. The goal of the documentation is to aggregate all X-Cash related information in a single place and facilitate the use of our products for all users, whether they are beginners or more experimented.

Yes.

0*Vyby0Zt_HoDduC_9.pngYes. is an innovative solution revolutionizing shareholders meeting vote through the use of X-Cash technology

We have been working for the past months to prepare something for the B2B world. The goal is to fully leverage X-Cash Technology (Hybrid Transactions, DPoPS & Sidechains) to fill a need gap in the existing world.

Today, we are announcing that we have found the product that matches this philosophy by relying on X-Cash to offer:
- Hybrid public/private voting
- Fully decentralized voting through the use of the X-Cash delegates
- Scalable voting thanks to the sidechain technology (~200 votes/second)

We will publish a detailed article in the next weeks along with the full website release. Once the dPoPS is launched, Yes.Vote will become one the focus of the core team along with the sidechain implementation and the other pipeline of developments.

Delegated Proof-of-Private-Stake

The last two months have been incredibly intensive in terms of DPoPS coding, with 158 commits made to the project.

0*xWmETR4Bk3aRcfOo.pngRate of commits has been steadily high in the summer

We are approaching the final phase where many people have been able to already try some of the components of the DPoPS and we are still on track for the release of the Testnet on September 30th. Many members have already been able to provide extremely valuable feedbacks which have been implemented and we would like to thank you for that. At the current stage of development, we are confident the test phase should not require extensive time and we will quickly move on to the live switch. Dedicated documentation with step by step tutorials as well as an article will be published in the next days to allow anyone to grasp how the DPoPS will operate in practice.

As we will be launching the Testnet soon, we are counting on a maximum number of users to try it and give us feedback. As promised, a massive bounty program has been prepared specifically for the DPoPS, if you haven’t reached your targeted stake this is the time to get your hands on the system!

Finance & Markets

Market Capitalization performance

During the last two months, we have witnessed a significant increase in the market capitalization of the coin. This is done in a context of high anticipation for the staking mechanisms associated with the dPoPS and the release of more features in the network.

0*1MDmfOvjXV2DwVUA.pngEvolution of the market capitalization since the release of X-Cash

We believe there is a good chance this momentum will persist as we keep on delivering. We are convinced that focusing on technology remains the most important thing to do at this stage of the project and in the current crypto environment. Delivering new products and features will only lead to higher adoption and therefore increase in price. Although the price of the coin is not something we fully focus on, we are more than happy to see our early investors and adopters being rewarded.

Private token sale

From the inception of the project, we have highlighted the strong will to not perform an ICO as we believe seed level project deserves a seed level investment which we have committed to do on our own. Still, we had reserved 5% of the supply to perform a private sale when several conditions would be met:
- The need to finance the scale-up of our activities
- Once a track record is established
- Once a significant portion of the supply has been issued to avoid a potential dilution of the early investors

After more than a year of operation where we have significantly overperformed the market and delivered some of our milestones, we are getting closer to perform this sale.

We will release a communication in early October to announce the sale details that will happen later in the month, along with the DPoPS switch.

Events & Community

1 year of X-Cash in Paris

1*HzteCBrWgjcBTfFaFP91Ew.png

For our 1 year anniversary, we gathered at Le Perchoir in Paris. It was great to see you and particularly appreciated our ambassadors who traveled to Paris. This event was also the opportunity to announce the release of our new yellow paper about DPoPS. After one year of operation, we realized all the progress made and this is making us even more excited for the future.

Contributor Program

During the summer, we have started to give hints on our social media about the contributor program. The fact is that the open-source component of X-Cash is becoming more and more prevalent as many members of the community are already assisting the core team on the development and community actions.

☑️ Wednesday poll A big thanks to everyone for participating in the last poll ? Seems that Twitter is your preferred media to check our news, we will keep promoting them here? New question! Would you like to be able to contribute to the $XCASH project and help us improve?

 — @XCashCrypto

Wednesday poll ✔️ A big thanks to everyone for participating in the last poll ? Really interesting feedback, it makes us wonder: If we develop a "contributor program", what would you be more inclined to contribute to $XCASH on?

 — @XCashCrypto

Thanks to your feedback, we realized that despite some of you were already contributing, many people wanted to join without knowing specifically how to. In addition to this, we have a very specific vision of how contribution should be valued in a cryptocurrency project. Since we have allocated funds from the start to the bounties & airdrop program, we believe that the funds should be shared with the community helping us build this project.

Therefore, we want to launch a program to onboard each contributor on a specific level and in the fairest manner. While basic contribution will be still made at the discretion of users, we will offer additional levels of contribution for the ones who are interested.

To give you the general guidelines, we have identified three levels which will lead to potential compensation:
- level 1: delivery based compensation
- level 2: monthly based compensation
- level 3: monthly based compensation and coin stake in the team pool

In addition to the above, each level will grant access to more resources within the team such as internal chat conversations, team calls … etc.
The ultimate goal is to have the best contributors joining the board of the X-Cash non-profit association and have them take part in the key decision related to the project.

If you are interested to join, stay tuned as there will be a full announcement in October. In the meantime, keep contributing or assisting us in all the ways and do not hesitate to reach out to a current team member to express your interest in participating.

Conclusion

The last two months have been quite intensive for the team. While the core of X-Cash remains the primary focus, with the release of dPoPS notably, we keep working on the ground components of the community products through X-Payment and X-Bank. This is done in parallel of our B2B solution targetting shareholders assembly meeting that we will launch in 2020.

We are witnessing more and more involvement from the community on Discord who want to be part of the project and assist the development.
We are still making a lot of reflection and work on the deep structuration of the project and the X-Cash non-profit association along with the contributor program will be the next stone to be added.

The pipeline of projects remains loaded with a lot of delivery to expect in the next two months. More than ever, we are committed to make this project a success and we would like to reiterate our gratefulness to all supporters and early adopters. Let’s keep building this together.

Follow us on Twitter & Join the rest of the community on Discord

The information provided on this article does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the article’s content as such. Nothing in this article should be taken as an offer to buy, sell or hold a cryptocurrency. Do conduct your own due diligence and consult your financial advisor before making any investment decision. X-Network will not be held responsible for the investment decisions you make based on the information provided in the article.

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July & August 2019 Project Update was originally published in X-CASH on Medium, where people are continuing the conversation by highlighting and responding to this story.


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Dear X-Network Community,

As we have done in May, we would like to take the time today to go back through the main progress and milestones we have hit during the last two months. Please bear with us on this long journey!

Products & Technology

X-Bank

The X-Bank has been one of the key development of the first two semesters of this year. The goal was to offer an easy place for users to store their cryptocurrency while having the highest level of security. During the last two months, we have performed several releases:

  • Optimised payments and account balances synchronisation;
  • New airdrop staking process;
  • Improved email verification process (new IP checkup on login), new 2FA reset features, new IP verification on login.

Thanks to this progress, the X-Bank overall stability and user experience have greatly increased and we are receiving very positive feedbacks. We are now working on the next features which will include KYC support for higher limits and preparation of future development, and integration of X-Payment.

X-Payment

During the last two months, we have also released the first version of X-Payment which has received a great interest in our community. People are starting to use it and we have received many positive feedbacks. We are now preparing the next version, which will include unique new features for users.

1*iMwpOWpaaWMnnOYC1UxY7w.pngAfter one month of tests, hundreds of instantaneous payments are processed every day with X-Payment

We are also working heavily on the features to onboard additional communities. To that extent, we have already started cooperation with 2 communities which integrated the current version. Thanks to their help, we will iterate and create the features that perfectly match their needs. Our goal is to release the public version for all communities following these feedbacks and improvements.

X-Blockchain

1*E_rnitxlqXXlDA-phdGqzg.png

X-Blockchain has taken a significant part of our energy in the last two months. We have exchanged with many players industry to create and design the perfect solution. Today we are happy to announce that we have identified the use case where our technology can be leveraged the most and where there is also the biggest need gap. This use case, which we are also adapting to our community to manage X-Cash governance, will find many applications and we are already excited about the added value it can bring to the world.
Currently, we are in the process of filling a patent for this technology and once the process has been kicked off we will be ready to share more details.

delegated Proof-of-stake

1*cJ-haS2fx2YqBHtWOzb8YQ.pngOverview of the commits made to the X-Cash Project

The last two months were very intensive in terms of development of the new consensus protocol. Today, the development phase is finished and the code is made available publicly on GitHub. We are going to start an internal testing phase which will lead us to the beta testing with the whole community. Every user will be able to contribute to this phase and identify the potential bugs in the code. This phase will also be an opportunity to kick off the wide contributor and bounty program which we will progressively translate to.

Finance & Markets

Along with bitcoin price increase, the market's performance of X-Cash has been quite disappointing for many users and investors.

1*Jzg7E5SZASNz8gIj4swJtA.pngEvolution of the market capitalization since the release of X-Cash

Although we understand some of the concerns that may arise, X-Cash remains on a 300% increase since the beginning of the year, largely overperforming most of the other crypto-assets. We can also mention that this has happened despite a significant dilution caused by the mining process. Overall, the market cap remains in a bullish momentum and we firmly believe the price of X-Cash will keep on increasing by building a viable ecosystem which has always been our primary focus.

Events & Community

1*eJdShEpMzNJPmf3azAgypQ.jpegDuring our event in Paris, Dragonchain presented their latest features

May and June were quite intense from a community perspective. We want to accelerate and improve our communication and you probably have noticed more frequents updates on our channels and particularly Twitter. We also had the opportunity to organize an event where we gathered our community to talk about the state of the project.

1*5kaLPk4mBH83RbrrTChggw.pngGuilhem (CEO) and Balthazar (Head of Sales) were invited to Malta for the AI & Blockchain Summit

We also went to Malta for the AI & Blockchain Summit and met many of our peers. These exchanges with investors, developers and other professionals were very fruitful and raise the scope of further cooperation.

Finally, we have carried our first voice chat AMA with the English Community. We will keep on carrying these initiatives every two months as sharing more information while gathering feedbacks is extremely valuable for us.

Business & Growth

The team continues to expand with new forces joining us in the marketing and communication team. As our needs keep increasing, we have started to work on our contributor program which will allow anyone in the community to work on the project.

Since June, we have integrated Pépiniere27, a startup incubator located in the heart of Paris. We are extremely excited and thankful for this opportunity which has already proven to benefit us by accelerating our growth and vision, notably through the many discussions we have had with the other teams.

Six months after the creation of the company, we are in the best momentum to keep growing while creating the best products for our community and end-users.

Conclusion

During the last two months, we have added new blocks to our ecosystem, notably by improving significantly the features and reliability of the X-Bank. Thanks to X-Payment, we have a first working use case of how our technology can simplify and improve the everyday life of our community by allowing frictionless payments through the growing media Discord.

The major part of the dPoS development has been executed and we are now entering the test phase which will be very beneficial both from a code debugging perspective as well as community involvement.

We are more than ever committed to building great things with our technology and we would like to particularly thank you for the continuous support we are receiving. These words and time spent helping are giving us an incredible amount of energy to make this project successful.

Follow us on Twitter & Talk to us on Discord

The information provided on this article does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the article’s content as such. Nothing on this article should be taken as an offer to buy, sell or hold a cryptocurrency. Do conduct your own due diligence and consult your financial advisory before making any investment decision. X-Network will not be held responsible for the investment decisions you make based on the information provided on the article.

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1*oFq_gwASpryez0ceXLDKkw.png

Dear X-Network community,

Thanks a lot for participating to our latest AMA session! We have had a lot of participation, it was truly exciting to talk with you.

For those who weren’t able to be there, we have prepared a transcript of the questions from the community.

X-Network

→ Are there strategic partnerships with companies outside crypto but not yet public knowledge?

We are part of a program from the INPI (National Institute of Industrial Property) to assist startups in protecting their intellectual property. We have initiated contacts with some companies but as the products are still in the development phase we have not signed nor are looking for additional partnerships.

→ What is the future marketing strategy for X-Network?

It is important to differentiate two different marketing actions here: the cryptocurrency (XCASH) and the company (X-Network).

From a cryptocurrency point of view, we have provided new services in the past few months (X-Bank and newly implemented X-Payment), enabling better managing of XCASH holdings, and a broader adoption with the integration on Discord. We are planning on onboarding X-Payment on other Discord communities to enable value interaction within ecosystems outside X-Network. This will bring visibility to X-Cash and a clear use case, enabling more people to join the airdrop and be included in our community.

On the company side, we are going to as many relevant events as we can. We have been to a Blockchain Summit in Malta and in Austria, we have organized a conference with DragonChain in Paris, and we are planning to do much more. We have other events planned, and we will be able to share our progress at another blockchain event hopefully!

→ What is the status of the integration between X-Network services?
In the last two months, we have gone through a significant reorganization of our pipeline of products to have a better coherence and make them more distinct. This also led to an internal reorganization with product owners and clear pipelines of development.

The initial strategy has been to develop the products separately to speed up the development and deliver MVP (Minimum Viable Products). This is now the case as X-Cash, X-Bank and X-Payment are all in production mode. While X-Bank and X-Payment already rely on X-Cash, we are now initiating a phase of convergence and harmonization with the inclusion of X-Payment into X-Bank.

X-Payment

Do you already have clients who will use X-Payment for Discord?

X-Payment is still mostly in the development phase with limited features released to the public. We have started to review the potential communities that could use it in order to be ready to accelerate once the communities onboarding feature is released. At this point, we will start contacting them progressively while also offering it to our user base.

However, we can say that at the time of writing we are in the process of onboarding X-Payment into another server.

→ How X-CASH will be used as a form of the payment system? Will it be used for global remittances?
With the use of sidechains, Remittance would be a perfect use case for X-Cash technology. Based on how X-Payment will be used and evolve, we will consider adding such a feature.

dPoS

Why should I become a delegate? What are the benefits?
We can distinguish three major benefits from being elected delegate:
- Staking: the emission structure will remain the same under dPoS and therefore the delegates will receive the proceed from the “mining” process;
- Voting: we are currently designing a voting system where delegates and users will be able to vote for proposals. This means that as a delegate you will be asked to take part in some of the decision making processes;
- Sidechains: the longterm goal of having a dPoS Network is to allow delegates to operate sidechains. These sidechains will be either directly linked to the mainnet of X-Cash to allow further scalability or be dedicated for a specific client/need.

How can I continue to earn XCASH with dPoS?
By continue, you probably imply that you already earning X-Cash under PoW through mining. Since all the generated supply from the PoW mechanism will be translated into the dPoS, this means that to keep on mining you will need to use your stake to vote for a delegate which in turn will reward you in a similar process as it’s currently done in the mining pools.

When will the switch to dPoS occur?
We are targetting to launch the testnet in July and if the tests are successful mainnet should follow shortly after.

How much of the network will be allocated to dPoS?
100% of the network will be “allocated” to dPoS. The key difference is that while all nodes are equal today, there will be tomorrow regular and delegates nodes. The first one will only serve as a relay for the blockchain and the transactions while the delegate will be in charge of writing the transactions in the chain.

Is it necessary to keep my wallet online to participate in dPOS?
It will be not needed to keep the wallet online to participate in dPoS. The only requirement will be to keep the funds locked in the wallet by not performing transactions. If the funds are totally or partially transferred, the reserve proof use in the vote count will become invalid and the vote, as well as its staking component, will be cancelled.

Will there be skill and/or technical requirements to fulfil in order to run a node for the dPoS system?
The technical skills required to run a delegate node will be similar to the one running a node. The technical requirements are detailed in our latest article regarding dPoS.

What is the minimum of XCASH to feel comfortable in “dPoS station”? So I could get a profit and won’t feel that other users have much more and they get almost ALL from nodes.
From the other dPoS coins, we get that the typical ratio of funds segregated towards voting is in the 40–60% area. With X-Cash and a circulating supply of 40bn, that would translate into 20bn used in voting. Assuming an equal repartition of stakes between all delegates (for which there is an economics rationale), this would translate into an average stake per node of 200M XCASH.

Is it planned to enable voting/staking for delegates from within X-Bank accounts?
At the moment, the funds stored in the X-Bank will not be used for staking. We are reviewing this option and based on the demand from the community this is a feature we could consider adding.

How will X-Cash avoid cartels being formed in dPoS?
The cartel prevention will be achieved through 3 mechanisms: the emission structure of the pre dPoS supply, the resilience of the algorithm and the pre-mined reserve. Because we have not gone through a public sale and thanks to the current decentralization of the network, we know that the concentration of coins will be much lower than other dPoS coins. The fact that we are under a Byzantine Fault Tolerant algorithm also makes collusion in the network more complicated as it would require 67% instead of 51%. Finally, should such an event occurs, we could consider in accordance with the community to use the reserve supply to restore balance in the consensus network.

dPoS is a relatively new system of consensus. The legal frame for dPoS is not very clear, the same is for taxation of revenues like dPoS rewards. Pool-staking adds even more complication:

Q1: did you check the dPoS consensus also from a tax-law prospective. If yes, can you tell us about the result / your expectations?
There is currently no jurisdiction that treat proceed from staking differently than mining. This means that coins generated from dPoS should be treated from a tax perpective as mined coins under PoW.
Q2: will the programs that you are building for dPoS also provide reporting tools that will help delegates / stakers to fulfill possible legal documentation duties?
This is not planned for the moment but could be developped if there is 1. a clear taxation framework in the countries the tool will cover, 2. a high demand from the community to develop such tool.

Do you have an MVP for DPoS rewards?
The reward under dPoS will be the same as PoW; therefore a good estimate of the average reward per block can be calculated by dividing the block reward by 100, i.e. 560 XCASH per block on average per delegate.

Are you planning to reward VPS based nodes just for running the daemon to support the network?
Given the interest from the community and the added value of such a feature, we are seriously thinking about how we could implement and reward it.

You are planning dPOS with 100 delegates. When a bad acting delegate finds out the IP addresses of the corresponding nodes he could attack them (DDoS). How is this prevented?

The IP of the delegates will not be displayed on the voting website, but security via obscurity is not best practice so we are treating this as if they were publicly available.

We will provide on GitHub a firewall script specifically built to stop these potential DDOS attacks.

In a DPoS system, every delegate is communicating with each other through signed messages. We have implemented numerous checks before a node is able to receive a message, notably:

  • Is the message signed by a top 100 delegate;
  • Has this top 100 delegate already sent a valid message;
  • Is this type of message valid at this point of the round.

To stop replay attacks, the message header also comprises additional information, notably the previous block hash, the current step in the block creation process, and the current iteration of the selection of backup nodes.

Are the 2 million X-CASH locked away while participating in the dPOS? Can I use the 2 million X-CASH immediately after leaving dPOS?
While you are using your stake to participate in dPoS you are free to remove/use it at any time. However, the delegates will automatically notice it and your vote count/reward will be excluded.

How many delegates will be operated by the x-cash team members?
We are currently planning to run between 1–5 delegates. Each team member or contributor will still have the possibility to stake at their own discretion.

Do you have already a “partner” that will use the DPOS during launch day?
We are not looking for partnership in this regards but we can already announce that the first commercial product we are developing will rely on the dPoS technology.

Could you explain the rate at which the circulating supply increases with dPoS?
The inflation under dPoS will remain the same, which is ~3%.

X-Bank

→ What services does X-bank offer?
The X-Bank aims at simplifying users’ life in managing their cryptocurrency and more particularly X-Cash by offering a more classic interface. At the moment this is used as a way to distribute the airdrop and allow users to manage their wallet easily. In the future, the range of features will increase, starting with the integration of X-Payment. We are eagerly looking for feedback and we plan on asking the community to vote about what should be implemented next.

→ How soon after the switch to DPOS will I be able to use XBANK (how long will it be down)?
The X-Bank will remain accessible during the dPoS switch. there will be a small downtime of ~1h around the block where the fork will happen to ensure everything works as expected.

→ Can you review the features that will be available with the x-exchange?

The exchange will work similarly to a traditional exchange with buy & sell features, limit/stop orders … etc

→ When is the eta on the in-house exchange?

The development of the exchange has not started. We are focusing on the X-Payment integration while adding other mandatory features and reviewing the coins to be onboard in the X-Bank next.

→ Will the exchange have fiat on-ramp?
It is not planned for the first version due to legal and capital constraints.

→ Will the exchange be decentralised?
We are currently studying a technical solution to offer the best tradeoff between full centralization or decentralization. This solution would also apply for internal transfers where an additional decentralized ledger would be used to store and track all transactions while the infrastructure itself remains centralized.

→ Will the exchange require KYC?
Yes, similarly to the one existing in the market above certain limits.

X-Cash

→ Will XCASH still be a minable coin?
From an economics perspective, there will still be an emission process which we call forging under dPoS.

→ What is x-cash’s strategy for tackling India?
As for any other jurisdiction, we comply with the legal framework of the countries we operate in; which can potentially imply some restrictions to specific locations.

→ Will X-Cash create a deflationary environment using strategic coin reduction, either in the protocol or in a periodic consensual burn of total supply?
A burn is currently not planned and would be hard to execute given that there is no structure generating fees or profits on top of the existing products/cryptocurrencies. This could be still implemented in accordance with the community’s choice if we can find a suitable model for this.

→ Are there any future plans for an X-Cash debit card?
It is not planned for the moment as this is well tackled by many other companies.

→ The airdrop is adding 1.000.000.000 X-Cash every month to the circulating coin amount. This is roughly 3% of the actual circulating coins. Assuming that ca. 1.000.000.000 X-Cash will be further added every month by means of dPoS rewards, this means that an additional 3% per month will be added to the circulating coins.
This leads to a fast dilution (6% per month) of already circulating coins causing potentially high inflation/big loss of value.

Q1: How do you expect Inflation to affect X-Cash?

The global inflation will remain the same under dPoS as the reward from forging/mining blocks will not change and the amount released from the airdrop will also remain.

Q2: Do you expect that the fast increasing number of circulation coins will be absorbed by the markets?

As the number of coins released to circulation will remain the same (or lower), there is no rational reason to see why they would not be absorbed tomorrow if they are absorbed today under PoW. On the contrary, one could argue that given dPoS is a much more efficient and cost-saving process, miners will not have to liquidate most of their mined coins to cover their electricity costs.

Q3: If not, do you plan other measures to keep the value of the coins stable (examples: burnig coins, place unused coins in escrow until the market will be capable of absorbing them etc.)

As this question has been brought by many members of the community, and more particularly in the context of the Airdrop, we will carry an in-depth review of how the Airdrop funds can be better used as well making the community vote on what should be done with it.

→ Will the 5 billion XCASH investment funds set aside to be sold to ordinary investors or institutional investors?
While we will soon publish further information on this topic we can already state that:
- The sale will happen once all products are working in MVP stage (X-Bank, X-Payment & dPoS)
- The full segregated supply will be sold during the sale (5bn XCASH) through OTC trades against BTC an ETH
- The proceeds of the sale will be fully used to fund the development of the project and more particularly to cover the costs for additional exchange listings
- To make sure there is no high concentration of coins, there will be a cap and the floor on the amounts that can be purchased
- Given the coins will be immediately released after the closing of the sale, there will be no significant discount on spot market prices

→ Is there an exchange of X-CASH paired with other cryptocurrencies and fiats?
X-Cash is currently traded on STEX, Graviex, Tradesatoshi as well as other exchanges. A non-exhaustive list of the available pairs can be found on CoinMarketCap.
With regards to the listing strategy, we believe the current list of exchanges is satisfactory at this stage of the project. The next listing phase will happen after the launch of the dPoS where we are targetting a tier-1 exchange.

→ Is X-Cash another pump & dump project? Why nearly 40% supply already distributed to limited people, why an investor put his money in X-Cash when people with millions of free coins can dump X-Cash anytime.
While we understand this concern could have been raised during the first months of the project, we believe that our one-year track record supports the opposite.

The 40% premine number is far lower than most of the ICOs (considering we are also not raising funds from the ICO itself), with a significant portion given back to the community directly.
At X-network, we believe transparency is the key to better adoption and approval from the community. For this reason, the uses of the remaining part have been clearly defined with significant energy put towards transparency and traceability: https://x-network.io/xcash/#transparency

→ In the whitepaper, for X-CASH 2.0, you speak of partnering with financial institutions, providing derivative products for increasing liquidity/hedging merchant positions. Could you speak to when (or if?) this is still planned, when the expected work for that is to begin, how you will begin and/or implement this, do you have specific targets identified to approach with this plan, etc? Your thoughts on this plan now that you’re this far into X-Network development.
We are still considering this path for the future of the project once the planets are aligned to trigger it. Lasts months taught us that the focus should be done on the technology while building a healthy community. Our goal is to reach this market once it will make sense from both perspectives as well as having gained the credibility from our own products. We believe this will be a long journey but the momentum around the project has been only increasing in the pasts month and we are getting each day closer to this target.

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X-Payment — Discord onboarding and beta launch

1*kh8SA-syN8C8xmRoiJtePA.png

Dear X-Network community, today we are glad to put in your hand X-Payment for Discord!

WHAT IS X-PAYMENT FOR DISCORD?

In its first iteration, X-Payment is a Discord integrated solution where users can execute off-chain p2p transactions instantly, and at no cost.

With X-Payment, we aim to increase adoption of XCASH and cryptocurrencies by providing solutions which are targeted for retail users. Those solutions will cater to various types of communities to implement our service for their desired activities. We are thinking of gaming communities, sports betting, etc. and any other communities that could need p2p exchange of value features.

X-Payment will be active only on X-Network community at the moment, but soon we will start onboarding new communities to use the service. Because we are convinced this solution is a game changer and can bring added value to other communities, we have decided to make it free. Communities owners will still have the possibility to set up their own fees if they want to generate revenues, but the use of X-Payment itself will remain free of charge.

Additionally, we are working to integrate X-Payment with X-Bank to improve the synergies between our products. This means that in the near future, a single X-Bank account will allow you to fully manage your balances.

Currently, X-Payment is at a Beta stage. The first available features are public and private transactions, account statistics, and deposits and withdrawals. In the next release, we plan to provide a solution for community owners to have the ability to set transaction fees, as well as the creation of reward “pools” and escrow type services for members.

For further information or application, please contact @Animus#4608 on Discord or send an email to lovro@x-network.io

TUTORIAL: GET STARTED

REGISTRATION

1*m8LXtmF7R-mybPMbcMSXOQ.png

To create your X-Payment wallet and start using it, go to any channel where X-Payment [bot] is part of and use the command:

$register

If someone has already sent you XCASH, your wallet has automatically been created for you.

Note: Your X-Payment wallet is automatically associated with your unique Discord ID. You can have only one X-Payment wallet per Discord account. On the first iteration of X-payment, only one user can register every 5 seconds to avoid crowding the server.

HOW TO DEPOSIT

1*v_nxiwRcmWbk5iXx4F7C7A.pngBy using the $deposit function, you will get instructions to deposit funds into your X-Payment wallet

You can request the deposit instructions by executing the deposit command either through a direct message with the X.Payment [bot] or on any channel where X-Payment can be accessed:

$deposit

To transfer XCASH to your own Discord Wallet, it is important that you provide appropriate address and exact Payment ID which is provided to you by the bot.

Payment ID is unique per user and is used to make sure that you are the one depositing to your wallet. Deposits can be made from a software wallet or from the X-Bank. Transferring directly from exchanges is not recommended due to the possibility of a deposit being lost.

HOW TO CHECK BALANCE

There are two ways for users to check their balance:

$me

which returns all the information associated with your wallet (including statistical data)

1*Kq1YXhJ6bRGNAFA4N0R9GA.png$me gives you information on your wallet and statistics.

or

$bal

which only returns the amount of X-cash in our wallet with the conversion XCASH to USD.

1*Zp3MXruKHpXE7Lw8dY-VvA.png$bal gives you only the wallet balance.

MAKING A TRANSACTION

1*ZCtupllggz3RyoxcTnT7iA.pngAn example of an incoming transaction and the associated information.

Currently, transactions can be done only on the channel where X.Payment [bot] is present.

In order to mimic a bank transaction’s options as best as possible, we have integrated a personal message feature to allow the recipient to know what was the sender’s intention. To go even further uppon executed transaction, a report will be sent to the recipient and the sender where in-depth transaction details are provided.

$send <@discord_user> <amount> <message[optional]>

The minimum amount for a transaction to be executed is 1 XCASH, and is limited to 1 transaction per 10sec per user.

You can also send a private transaction by using the command:

$private <@discord_user> <amount> <message[optional]>

This way, only you and the receiver can see the transaction which is hidden to everyone else. ?️

WITHDRAWING THE BALANCE

The user has two different ways to withdraw balance to their wallet:

$withdraw <XCASH_address> <amount>

where the custom amount needs to be greater or equal to 10,000 XCASH.

or

$withdraw_all <XCASH_address>

which will automatically withdraw the total balance to the <XCASH_address> wallet.

Withdrawal to addresses starting with XCA or XCB is allowed, but not to addresses with a separated payment ID.

Why the amount cannot be less than 10,000 XCASH?

While X-Payment is tailored for micro-payments, on-chain transactions should not be used for this purpose. Also, as we are currently not incorporating the blockchain transaction fees in the withdrawals, we want to make sure that the fees remain low relative to the transferred amount.

Disclaimer: It is important to stress out that X-Payment wallet should not be used as a personal holding wallet to store significant funds. Always prefer a wallet where you hold the keys or cold wallet, which will always be more secure.

The information provided on this article does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the article’s content as such. Nothing on this article should be taken as an offer to buy, sell or hold a cryptocurrency. Do conduct your own due diligence and consult your financial advisory before making any investment decision. X-Network will not be held responsible for the investment decisions you make based on the information provided on the website.

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1*Hob4jxRB-5VXa1LAiG0cSA.png

Dear X-Network community,

Today, we would like to give you a sneak peek into our next major upgrade of X-Cash core code 2.0: delegated Proof-of-Stake (dPoS).

To summarize, X-Cash dPoS is:

- An improvement of the public blockchain network where 100 elected delegates are in charge of the consensus;
- A unique algorithm that combines delegated Byzantine Fault Tolerant consensus mechanism and Verifiable Random Functions;
- The first dPoS cryptocurrency based on private transactions;
- The first dPoS cryptocurrency based on Monero and Reserve proofs;
- A backbone for the sidechain technology that will allow higher scalability and new use cases.

The first part of the article aims at summarizing the basic concepts behind dPoS and how it is implemented into other cryptocurrencies.

The second part describes what technological choices have been made for X-Cash’s dPoS, as well as detailing what will be the minimum requirements to host a delegate.

What is dPoS?

dPoS is a consensus mechanism where only a subset of nodes in the network are allowed to validate transactions and mine blocks. The nodes validating the transactions are known as the delegates as they are elected by the token holders of the cryptocurrency. Given that the process of block creation doesn’t require heavy computation as in Proof-of-Work, it is also known as forging.

In practice, the token holders can assign their stake to a specific node candidating to be elected as a delegate. At the end of each period (which can vary from a few seconds to days), the top x (typically between 7 to a few hundred) candidates in terms of staked votes are elected delegate. The delegates are in charge of validating the transactions of the network. The typical process of block creation is called a “round” and can be decomposed as follow:

1*077W2T1zXxt4jc9H0EpiOw.png
  1. A delegate is selected to be the block producer. This process can follow a certain pattern (e.g round-robin) or be random;
  2. The block producer creates a suggested version of what the next block should be in terms of transactions, including its block producer reward;
  3. The other delegates vote to accept or reject the suggested block. If the block is voted valid, every delegate (and therefore, the whole network) add the block to their version of the blockchain and a new round can start.

Advantages:
- Higher security (no 51% PoW attacks)
- Faster and easier consensus
- Lower energy consumption

Disadvantages:
- Higher centralization
- Implementation difficulty

delegated Proof-of-Stake in the current cryptocurrency ecosystem

The first implementation of dPoS was from BitShares in 2013 which holds a total number of 101 delegates. Through the impulsion of Dan Larimer (currently CTO of EOS), it showed that greater scalability could be easily achieved at a cost of a higher centralization. Since then a certain number of projects have decided to use dPoS as a consensus algorithm. While EOS is currently the most popular one from a market capitalization perspective, a few interesting projects have also set their foot in the space. The below table offers an overview of these actors and summarizes the main technical characteristics related to dPoS:

1*Io75MYIf_DpMeM-Y5449wQ.pngComparison of the main dPoS cryptocurrency projects
*currently, the delegate selection process is not fully open and adjustable on NEO and ONT. More details on the full process can be found here.
RR = Round-Robin
VRF = Verifiable Random Functions

X-Cash delegated Proof-of-Stake

At X-Network, we are convinced that delegated Proof-of-Stake currently offers the best trade-off between security, decentralization, and scalability while allowing a lower energy consumption. After assessing, using, and participating in most of the existing dPoS based cryptocurrency, we have designed a new version of dPoS that will combine most of the existing features while being tailored to our ecosystem and the future improvements we plan to make.

Additionally, one of the main rationales for switching to dPoS is to offer a real-world experiment of dPoS under a privacy coin, and eventually create some return on experience to the Monero community from which we have inherited a lot. The philosophy behind the development of X-Cash’s dPoS has always been aligned with X-Network and we want to make it fully open source, reusable, and transparent.

While most of the details will be given in the yellow paper which will be released in the next weeks, we want to give you a first look into what the algorithm will be.

Stake delegation

One of the key components of dPoS is the capacity for the users to vote for delegates using their stake. This creates an interesting momentum where delegates need to behave accurately to be supported by the users. Eventually, this leads to a healthier ecosystem by creating competition among the delegates. This competition materializes in higher block reward sharing, higher performances of the network, and better involvement of the delegates in the community.

1*Le_uW4H1m6Mw0UN12S0nOw.pngThe token holders of the cryptocurrency are electing the delegates.

The minimum stake to vote for a delegate has been set to 2M X-Cash to allow anyone to participate while keeping the number of voters manageable. The voting will be done directly in the wallet by assigning a reserve proof to a specific delegate. The top 100 nodes in terms of voting stake will be elected delegates and will take part in the consensus process. Under the current circulating supply, we have estimated that the minimum stake to be elected should be in the 200M X-Cash range. We have also prepared a tool for the delegate to automatically share the staking reward from the blocks forging, similarly to what is currently done in the mining pool. To be el

Byzantine Fault Tolerant Algorithm

The consensus algorithm will be based on delegated Byzantine Fault Tolerant (dBFT) scheme which was introduced in NEO. The primary interesting feature of this algorithm is the need to have ⅔+1 delegates to achieve consensus. This means that collusion (such as Lisk’s cartel of delegates) in the network is less likely to happen, considering that the company and the future foundation of X-Cash will also own a fully independent number of delegates.

The other interesting concept behind dBFT is the removal of alternative chains. This has two major implications; the first one is the fact that the number of confirmation needed to legitimate a transfer (more particularly a deposit on an exchange) can be greatly reduced, as there is theoretically no chance for a rollback of the chance. On the other hand, this also resolved the nothing-at-stake issue where delegates could be incentivized to support all alternative chain (on the contrary of PoW). In dBFT, since there are no alternative chains, there is no nothing-at-stake issue.

Random Block Producer Selection

Another fundamental technical component of our dPoS algorithm will be the random Block Producer Selection through the use of Verifiable Random Functions. As we have seen previously, most of the current dPoS algorithms currently use a round-robin process for the selection of the block producers. Without being a critical threat to the system, this can raise questions on the overall healthiness of the consensus as block producers know in advance when they will be creating the next block.

1*JryyVRfY-oqwzbG3nAY64Q.png

In X-Cash dPoS we will use another process derived from the algorithm used in Ontology (ONT). We believe having each block producer selected randomly to be a critical step. From a technical perspective, this can be challenging as this random selection process is controlled by one node at a time (the previous block producer). Therefore, how can a node guarantee that the process was truly random and not artificial to favorize some other block producers? This is when Verifiable Random Functions comes in as they allow a posteriori the network to verify the randomness of the selection process. In practice, the VRF generation is tied to the previous block hash to avoid any favorable precomputed data.

Requirements to run a node

In the design of the technical components of the algorithm, we have tried to find the best compromise between performances and features. As stated from the inception, we have always wanted to offer the possibility to have a delegates node run on light VPS. In practice, matching the minimum requirements on a node will allow it to run the mainnet while sticking to the recommended specs will also guarantee better stability and the possibility to run additional sidechains when they are released.

Minimum requirements
- Operating System: Linux Ubuntu 18.04 or higher
- CPU: 2 cores
- RAM: 2 GB
- Disk Space: 50 GB
- Bandwidth: 500 GB/mo
- Bandwidth(peak): 100 MB/s

Recommended specs
- Operating System: Linux Ubuntu 18.04 or higher
- CPU: 4 cores
- RAM: 4 GB
- Disk Space: 100 GB
- Bandwidth: 2 TB/mo
- Bandwidth(peak): 100 MB/s

Conclusion

The change of consensus algorithm from Proof-of-Work to delegated Proof-of-Stake is a significant milestone for the X-Cash blockchain, and will also bring innovation to Cryptonote, Monero and the overall blockchain ecosystem.

The design of X-Cash delegate Proof-of-Stake consensus algorithm has raised significant challenges, as it is a pioneering work for both a Cryptonote and public/private hybrid transaction coins. For this first version of the algorithm, it has been chosen to use a combination of delegated Proof-of-Stake and delegated Byzantine Fault Tolerance (dBFT) with the use of Verifiable Random Functions (VRF). As X-Cash is a privacy-based coin where balances can be obfuscated, Monero’s Reserve Proofs are extensively used through the election process.

From a growth perspective, the change of algorithm has been widely anticipated and will strengthen the community while providing more involvement and a better governance process. From a technological standpoint, delegated Proof-of-Stake will increase the security and resilience of the network as well as providing the foundation for the sidechain technology development.

Additional links:

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Dear X-Network Community,

Today we would like to take the time to cover some of the main milestones and progress we have had during the last months, as well as giving some insights on the next steps.

Products & Technology

X-Bank

1*qY8GZccyFTWceT316HpxmQ.pngView of the X-Bank home page

In March, we launched the X-Bank which is the community platform for storing X-Cash and carrying the airdrop. After a successful first run of the airdrop program where we distributed around 8,000 airdrops, we have closed the X-Bank after DDoS and other hacking attempts. Although no coins have been compromised, we have taken this opportunity to perform an upgrade of both security and features of the X-Bank. The X-Bank will reopen on May 6th with the new features and airdrop system.

X-Payment

X-Payment is an essential component of X-Network, and we have made some significant progress in its development during the last month. We will release an alpha version of X-Payment Communities on Discord on May 19th, 2019. This version will be primarily used to perform on and off chain transfers between the users as well as some surprises.

1*oveJXEVptbAYWj8EAcvBcQ.pngOff-chain transactions carried through X-Payment infrastructure on Discord

We are excited to have you try it and gather all the valuable feedback that will help us build the Beta.

X-Blockchain

While the community component of X-Network has significantly progressed over the lasts months, we remain in an early phase for X-Blockchain. Some significant progress has been made on the platform’s design, the first services of the MVP and the go-to-market. We are lucky to have secured a few partners who will help us build the solution, and we will soon communicate on the progress of the first phase.

delegated Proof-of-stake

The change of consensus algorithm is a critical piece of the Core technology X-Cash is offering. We are preparing a yellow paper scheduled for the third week of may that will describe in depth the key technical components.

As you might have seen on GitHub, the development is now in its final phase with the first internal tests scheduled for mid-May. Once validated internally, we will enter a deployment phase on test-net where the involvement of the community will be extremely important. To this extent, we are preparing an important bug/involvement bounty program where up to 500M XCASH will be allocated. This will also be the perfect occasion for everyone to accommodate to this new system.

Finance & Markets

During the last two months, X-Cash has been added to a few exchanges, increasing the range of possibilities while making the liquidity grow. On average, between 0.5 to 1.5% (fake volumes excluded) of the market capitalization is exchanged daily which is in line with the overall market.

1*4YIawZJQ7OeIrgptvvpWHg.pngX-Cash market capitalization since the start of the project

Since the beginning of the year, the X-Cash market capitalization has been steadily growing due to the progressive creation of the supply while the price of the coin remained in an increasing momentum. From a fundamental perspective, this is caused by a growing adoption mainly caused by the continuous release of our products and the anticipation of delegated Proof-of-Stake.

From a Finance perspective, we are actively reviewing what is the best timing to initiate the private coin sale (5% of total supply) for which we are receiving great interest. We believe we are now close to triggering this phase as the timing is right in terms of valuation, products release and community engagement — we will shortly communicate about this.

Events & Community

1*jIdV5aPohA5e0e69U1qOKg.jpeg

The lasts two months have been quite active for the team with a presence in a few of the major blockchain-related events in the world. While still being at an early stage, we believe creating awareness around the project is important. As we have been releasing and delivering our community and B2B products, this helps us set the first links with the actors of this environment to build our track record in the long run.

1*ilG4CSls_OrbhY6PNu5IFw.png

On the community side, we have seen a regain of interests since the market cap hit the 1M USD threshold. We are convinced more than ever that this user base we have attracted will be very helpful to calibrate all the ecosystem and thanks to the X-Cash cryptocurrency, we have a tool to incentive these early adopters.

Business & Growth

As X-Network is kicking off its B2B activity through the X-Blockchain program, we are starting to actively work on a new platform built on the X-Cash technology that will truly bring in some significant advantages.

The team is expanding, and to this effect, we are welcoming this month a new joiner in Paris who will be in charge of marketing and communication. We are still actively looking for two additional developers to assist us on both the X-Cash community-oriented products and B2B platform.

We are also very excited to announce to you today that the team will join a startup incubator in early June. This will help us in better coordinating our development while providing a structure for us to quickly scale up — more information to come in the next weeks.

Conclusion

The lasts two months have been the most intense since the starts of the projects, but thanks to new joiners in the team and the community, we are getting closer every day to our goal to build a new ecosystem around our products.

In terms of development, we have been able to deliver a first version of the X-Bank which will come back in production mode in the next days. On the core technology, we have made some significant progress on the dPoS, and we are confident it will go live in a few weeks.

This positive news, which is being priced in the market capitalization, also raises some new difficulties: better management, communication and a need to scale up the team in the next month. Thanks to the community, our investors, and partners we are more than ever well surrounded to face these challenges.

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Dear X-Network community,

Today, we are proud to announce the release of the X-Bank and the resuming of our Airdrop program.

https://x-bank.io

In the first iteration of the X-Bank, you will be able to access our dashboard where you can check your XCASH balance, send and receive crypto-asset and register for the XCASH Airdrop. Your X-Bank account will act like a personal wallet such as the one you have on an exchange.

The X-Bank 1.0 will be the ground base for the products we are developing around it. Our next step in development is to provide a multi-asset crypto exchange directly into the X-Bank. Secondly, our X-Payment service will be powered by our X-Bank transaction system, which will function using the liquidity provided by our exchange.

1*3ygwnDf8Azz4lUadZXjVuQ.pngYou can create your account easily from the front-page of the X-Bank

You can start using the X-Bank by clicking the “create an account” button and easily register.

1*Thr5CplrsaMMKJ-EYPeyPA.pngYou need to provide basic information to get registered.

To create your account, you need to provide basic information that will be used later for your authentication to use our exchange service. A deeper KYC process will be put into practice to access our exchange when it is available. No more information will be needed to access the basic service of the X-Bank (check account, send and receive crypto-assets). To be able to register for the airdrop, the only additional level of verification we will ask is a valid phone number, to help us verify valid accounts.

Once you click register, a confirmation email will be sent to you.

1*fBzMOezTgbIIRqGOYaC_yQ.pngYou will receive a confirmation email from no-reply@x-bank.io

Once validated, you will be redirected to the x-bank front page and will be able to access your dashboard.

1*skVIScuB478iKtn9MaNcHQ.pngOn the dashboard, you can check your total balance and USD equivalent value.

On the main dashboard, you will see your total XCASH balance and the payment history of your incoming and outgoing transactions. You balance is also converted into equivalent USD based on the latest market data value.

1*EbBqF5JMaQwqHAI3zn2Ulw.pngGo to the “deposit” tab to get your deposit address to send XCASH to your X-Bank account.

If you wish to deposit XCASH to your X-Bank account, go to the “deposit” tab to access your deposit address. You can give this address to someone to receive X-CASH, or send directly XCASH from another wallet.

Once the payment has been processed in the blockchain, the funds will automatically be updated in your balance and the history of the transaction will appear in the deposit history.

1*DZnUDC9GXR7qYuztORR6uA.pngThe transfer page works the same as sending funds from your wallet.

To send funds out of your X-Bank account, you can go to the transfer tab and send XCASH such as you would do with a regular X-CASH wallet.

Sending XCASH to another X-Bank account will be instantaneous and free (0 fee); this is an off-chain transaction.

Register for the XCASH monthly airdrop

1*Rkpe3yYPlA5i3cdBJHHfEA.pngThe airdrop registration is accessible from the airdrop tab.

On the airdrop section, you will be able to register for the airdrop and check the airdrop registration dates. We also indicate when the airdrop distribution starts.

1*fK7lAUEY3w66Xw5HkHV8Jw.pngYou will get an error when trying to register if your phone number is not validated.

You will have to go to the settings tab to verify your phone number.

1*j8SfWewO4v5IznShU0v6ug.jpegOn the settings page, you can change your account information, change the password and activate 2FA for your account.

To verify your phone number to access the airdrop, we will send you an SMS with a verification code. You will need to choose the correct country code (for example, +33 for France) and start your phone number without the 0.

A verification code will be sent to your phone by SMS, that you can put into the form bow that appears.

Once your phone is verified, you can register for the current airdrop.

Referral System

1*17i5WVkx8ArEDXbhf61i4w.pngThe referral program is accessible through the “airdrop” page.

Each X-Bank account has a referral address. This address can be given to people wishing to register to the X-Bank to earn a bonus on the airdrop.

At the moment, the referral program will increase the amount you will receive during the airdrops by 25% per person referred and by 25% if you have been referred.
Only validated account and airdrop subscribers will be counted for the referral bonus.

In the future, additional bonuses will be given to referral, notably when we open the exchange.

Your referral address will look something like this:

https://x-bank.io/signup?reflink=92fc2685-b61e-4c0a-984b-cc36240eb694

The “92fc2685-b61e-4c0a-984b-cc36240eb694” part is your user ID. If you wish to refer someone that has already created an account, you can give him this part that he can manually enter in his “your referrer user ID” field.

What is the future of the X-Bank?

1*k-dvFYqNzQnS5eHzDy18vg.pngX-Bank will be the base for X-Payment

The X-Bank will be the base for our X-Payment solution, enabling fast cryptocurrency transfer with instant crypto to fiat conversion. The aim is to facilitate payments between users and merchants.

We plan on releasing the first product of X-Payment with our Discord Community payment system that will be managed by the X-Bank.

In the X-Bank 1.0 version, only XCASH is supported. We plan on adding support for more cryptocurrencies, and ultimately FIAT with a low fee conversion solution.

1*fow5ijcfOW0kf6_y-mdfjA.pngThe exchange is planned to arrive during Q3 2019.

This will pave the way to the development of our own crypto exchange that will be hosted by the X-Bank.

The exchange will enable better liquidity to facilitate instant transactions and currency conversions.

The exchange will be accessible to X-Bank account holders from the dashboard.

Last notice

The X-Bank is out and ready for you to use. There is still a lot do to but the current iteration will be a ground base for what is to come. If you encounter any bugs or have questions, please do not hesitate to contact us on the X-Bank support section on our Discord: https://discord.gg/KsBZkhA

For more information about our project, please visit https://x-network.io and https://x-network.io/x-cash

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X-Bank — details & new airdrop process

1*jFH3J_yigAPrdXUP6kgqng.pngCreate an account on the landing page of the X-Bank.

Dear X-Network community,

As the deployment of the X-Bank is right along the corner, we would like to give you more information on what it is going to be, how to interact with it, and how to apply to the XCASH airdrop.

X-BANK: A cryptocurrency assets storage

The first version of the X-Bank will be an online XCASH storage facility.

On the X-Bank 1.0, you will be able to store your XCASH by depositing them into your account or receive them through the airdrop. You also have the choice to send them out of the X-Bank by transferring them to another wallet.

1*nr9DS9XIBdDrX_VVTyCH8g.pngCreate an account and start using the X-Bank quickly.

By creating an account, you will have access to your dashboard, where you will be able to manage your assets and register for the airdrop.

1*WCWTOP95D-Evie8YvfvZeQ.pngOn the X-Bank dashboard, you can check your account XCASH balance and payment history.

X-CASH Airdrop

1*O3uKa7Ob7D2SttNpdk2tlA.pngThe XCASH Airdrop will be processed through the X-Bank.

As you may have heard by now, we are planning to switch the airdrop distribution process to be managed by the X-Bank.

The aim is to enable better regularity in the airdrop distribution and simplify the process of registration for the users. We built a clearer interface, that we believe will answer our users’ concerns and advices.

In principle, the airdrop will remain the same: a 20-month airdrop program where the monthly airdrop/bounty pool of XCASH is distributed fairly between all registered users.

From now on, the airdrop will be distributed to the X-Bank account holders.

To be able to access the Airdrop tab, you will have to verify a valid phone number in the Settings tab.

1*BrknN1aG2d_fnT2WEqTnPw.pngPhone number validation will be the only verification we will proceed to register for the airdrop.

Being in the Telegram Airdrop group is not a requirement anymore. Only phone validation is a requirement for now. We will add other steps of verification if needed.

Once your phone is validated, you will have access to the airdrop tab and its features.

1*SCOnLw23qvBWW0Ebv2OAbg.pngThe airdrop page gives more information on the registrations state.

The referral program has been revamped but the bonus is the same (+25% on your airdrop per valid users that registered to the current airdrop).

Please note that your referrals won’t be transferred to the new system. We understand that some people can see that as a setback, but resetting the referral system was required to ensure the healthiness of the program.

As you know, some people were abusing the system, notably fake accounts using the referral link of valid users and flagging them in our database. This made us take time doing unnecessary checks to ensure that affected people would get their fair amount. The process was lengthy and took time from us where we could have been working on developing our project.

By starting over, we believe that our users will see this as a way to support us and ensure that this project comes through. As the first airdrop going through the X-Bank will be a transition, we believe that our most devoted community members will get a good share at the beginning.

1*HLV1JxJJUXABPh39y65zmA.pngThe referral program gives a clearer view of your referral link and count number.

From now on, you will be able to see a history of the previous airdrop, notably the amounts you received. This will enable you to better track when you got the airdrop and the number of valid referrals that was taken into account.

This will help to address the issue where some users had a high number of referrals but the airdrop received didn’t match this. Most of the time, your referrals weren’t registering correctly to the airdrops and weren’t counted as a valid referral for the airdrop session. A discrepancy between your referral count and valid referrals for the airdrop means that your referrals didn’t follow the process correctly, implying that you might sit down with them to help them through the registration to improve your valid referrals count.

1*dMynL6kwPw782HvIz7naFw.pngThe airdrop history page gives you information on the previous airdrop you received.

Once the airdrop is distributed, it will be added to your balance. You will have the choice to have it stored in the X-Bank, or transfer it to an XCASH wallet.

What is the future of the X-Bank?

1*k-dvFYqNzQnS5eHzDy18vg.pngX-Bank will be the base for X-Payment

The X-Bank will be the base for our X-Payment solution, enabling fast cryptocurrency transfer with instant crypto to fiat conversion. The aim is to facilitate payments between users and merchants.

We plan on releasing the first product of X-Payment with our Discord Community payment system that will be managed by the X-Bank.

In the X-Bank 1.0 version, only XCASH is supported. We plan on adding support for more cryptocurrencies, and ultimately FIAT with a low fee conversion solution.

1*fow5ijcfOW0kf6_y-mdfjA.pngThe exchange is planned to arrive during Q3 2019.

This will pave the way to the development of our own crypto exchange that will be hosted by the X-Bank.

The exchange will enable better liquidity to facilitate instant transactions and currency conversions.

The exchange will be accessible to X-Bank account holders from the dashboard.

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Dear X-Network community,

Since the beginning of the project, we have always emphasized the importance of transparency. As you all know, X-Network is a self-funded project launched without ICO and relying on a cryptocurrency, X-Cash, with the following coin allocation:
- 60 %: to be mined (23.82% mined as of 04/02/2019)
- 20 %: airdrop and bounties programs
- 10 %: project & company
- 5 %: private investors
- 5%: team

As X-Cash is derived from Monero and cryptonote, its core nature remains privacy with an upgrade in November 2018 to enable hybrid public/private transactions.

To complete the transparency picture, and in accordance with our whitepaper, we are releasing today a segregated funds tracker that will allow anyone to check the balance of the locked wallets.

The primary goal of this tracker is to facilitate the community to review and confirm that the funds are used as intended. For instance, the team funds (5%) will be locked until stringent conditions linked to the market cap are met. More information is available in the whitepaper and in the announcements.

Current Status of the segregated funds

As of 04/02/2019, the inventory of the non-mined coins is distributed as follow:

1*NORz1OO2w16_STwid9iMiw.pngSegregated funds balances (as of 04/02/2019)

During the five previous months, five bn of XCASH have been released through the airdrop program while 498M XCASH have been spent by the company, mainly to cover for regular expenses and exchange listing. The team’s wallet remains locked until the first tier is triggered by the market cap as well as the investor’s supply which sale will start in February. More information will be provided shortly.

How to check the funds status

To validate the segregated wallet’s balance, we are using cryptographic reserve proofs which allow confirming that a specific address holds a certain amount without revealing its public key. Once the funds are being spent, even partially, the reserve proof becomes inactive, and a new one needs to be generated.

Checking the wallet status in the explorer/website

1*bB2S8wA6SXhmBuOLo5diuA.pngScreenshot of the segregated funds explorer

To check the funds’ current state, we have set a dedicated page on our explorer: https://explorer.x-cash.org/SegregatedFunds

On this page, you will be able to verify that the reserve proof of each wallet is valid while confirming the amount held in it.

Checking the wallet status in the CLI wallet

Because it could be clearly argued that the explorer induces a certain level of centralization and potential collusion, we are also publishing the reserve proof for anyone to manually check their validity directly in the blockchain.
To check the proof’s validity, follow the next steps:

  1. Go to https://explorer.x-cash.org/SegregatedFunds and click on the Verify Reserve Proof In The xcash-wallet-cli button.
1*D21S8OxexyIjLRgQcVRhcA.png

2. On the opened pop-up hit the Copy The Reserve Proof button

1*JEBk7LFZPjcndM6lxazMog.png

3. Paste the proof into a new notepad file

1*Qzz4juxDPIAqnpae7ZvNSw.png

4. Save the proof in your wallet folder (ex:verifyreserveproof.txt)

1*n_E0kjlZaeswFapoq_hnxQ.png

5. In the CLI Wallet, run check_reserve_proof WalletAddress ReserveProofFile. On the below example we run “check_reserve_proof XCA1Sg2ByXygMcLUbT915R854R6J2J2H7Vo7cRLxyJ3qEVa26hxPDjaUdZPCQjmthbYBxXK8z13sFBPG16LLxF8Y5T5m6x5Dfp verifyreserveproof.txt”

1*X3iZKSZd0s71XggylfbzfQ.png

The CLI Wallet will confirm the proof’s validity by displaying “Good signature” and the associated spent/unspent amounts.

We are very happy to provide this new feature and believe it will add the needed transparency as well as increasing the trust with everyone involved in the X-Network project.

Thank you,
Guilhem

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X-CASH DISCORD AMA #2

1*t_gnF1xRCdrram4WqN4IXw.png

First of all, we would like to thank everyone for taking the time to submit questions. The second round has brought loads of interesting questions and points we are glad to be clarifying.

1*nJ6K2rLtmTCLeL-aLRSRkQ.png

Can you introduce the re-brand reasons?

The rebranding is the logical conclusion of these lasts months reflexions about the products we wanted to have in the X-CASH galaxy. The initial line of products do not drastically change but thanks to the rebranding they can now be easily identified and understood, more particularly for new joiners.

Will the ticker “XCA” be changed?

No, the ticker will remain the same. It was initially set as “XCA” but since the exchange listing, we chose to change it to “XCASH” to make it easier to read.

What are the major hurdles and obstacles the team feel they need to overcome in order for success?

The list of obstacles could be endless so we chose to stick to the three major ones. The biggest obstacle is definitely the technical part, as switching a Monero-like coin to a proof-of-stake consensus is far from being easy. Further down the road, the implementation of sidechains will also be very challenging. For many reasons, we always felt that such a project had to be disruptive from a technical perspective to be successful. Our stance on this has not changed and we think we will be able to deliver these items along the year.

The second most important obstacle is the community growth. Any project in the cryptocurrency/blockchain space cannot succeed without a significant community of investors/users/developers. Our stance on this has not derived from the beginning, deliver first and then handle marketing. As we start delivering the technical upgrades in early 2019, we will also accelerate our communication and community growth.

Finally, it is important to recall the strong correlation of our business to the cryptocurrency markets. This last component is why we have decided through the rebranding to put more stress on x-blockchain services. This offers a good hedge to our company as we will be generating profits next year, whatever the crypto market condition is.

There will be 4 different coins or only xcash?

There will only be one coin which is the current XCASH. The technical details of the coin remain unchanged and it will be used in all other services.

How can we exchange xcash to BTC right now?

You can buy xcash on 3 different exchanges:

However, only Cryptopia and Trade Satoshi have the BTC/XCASH pair. We recommend you check the price of the pair before deciding to buy using BTC. At the time of the article, buying XCASH with BTC is 3 to 4 times the price of buying XCASH with LTC.

X-Cash (XCASH) price, charts, market cap, and other metrics | CoinMarketCap

Note: since the initial writing of the article, Cryptopia has suffered significant funds loss due to a hack of their Ethereum wallet. It is currently unclear whether or not they will resume operations.

How will the signature campaign/advertising XCA/XNETWORK look like?

The signature campaign will start shortly and will advertise all 4 products with a strong emphasis on the Airdrop.

How do I become part of the team/are you guys hiring?

We are in the process of hiring people in Paris. The job offers will shortly be published on our website and some other crypto-related news pages. In short, if you have a passion for crypto with deep coding, marketing and or finance skills, please contact us.

However, we are still looking for ambassadors. We have had great applications that are still being processed but are always glad to get more. If you are interested, please send an application to jobs@x-cash.org with information about yourself and your experience in crypto.

Did you find Private Investors for the 5 Billion XCASH (5%)? Did you start the sales?

There are several investors who are in line to buy from the 5bn coin reserve dedicated to it. We will open the sale in the next weeks with plans to slowly release this reserve throughout the first half of 2019. There will be an online tracker to watch the funds status.

Are you planning to offer Nano Ledger support? If yes, when? If no, how to achieve total security for one owns X-cash savings?

We have just started to look at Ledger implementation. This will require some development and we plan to add it in the year. This is not the top priority for the moment.

In any way, the most secure way of securing your funds remain using a cold wallet.

Any future partner plans?

We are not ready to announce any partnership for the moment but there are some ongoing discussions.

Where do you see XCASH in 3–5 years?

Several paths are possible but the one we are targetting is the same since the beginning. Wide adoption from both retail consumers and corporates, more particularly in finance, with the highest level of regulatory compliance. XCASH will be the core utility token of the network and be used to create sidechains while allowing onchain and offchain payments.

Among this bad market, what makes you sure that this x-cash project will survive since we already know that besides exchange, there are so many blockchain implementations for payment project out there, you have many competitors, but what makes you sure?

There is no certainty is any business, more particularly startups, and even more particularly blockchain projects. Our strategy to “survive” is to generate the first profits to show the viability of the project. To generate these profits, we will need to generate sales and find the potential use case and clients for our products. The growing community we are building will help a lot in gaining the initial traction but as the business will become more and more competitive the key to success is comparative advantages. We have already described in the Whitepaper how we plan on becoming a true competitive payment solution and the x-bank will go in the same direction. On the blockchain services part, we have a similar stance where we strongly believe our solution will be cheaper and easier than the competitors’.

As many projects are closing down due to funding issues, does x-cash team have enough funding or financial support for the project to continue or finish all the project commitments?

From the beginning, we have prepared for the worst by building a cost-efficient structure. We now see this as another advantage as many projects have to close or lay off staff due to the inability to pay salaries. This is more an opportunity for us to grow as we will start generating revenues in 2019, while using our crypto and equity market cap to secure additional funding. To conclude, according to our current funding structure we should be able to support the project throughout the year of 2019 without significant funding issue.

Will there be a fork?

The next planned fork will occur for the switch of x-cash to PoW to PoS in Q1 2019.

What do you plan to do to ensure high liquidity for future project plans?

If you are referring to market liquidity, we have several plans, most of them being described in the Whitepaper. The primary one will be to add x-cash to additional exchanges and increasing numbers of trading pairs. One of the other solutions we are seriously investigating is the release of derivatives instruments but this is further down the road as we will need to already have well-established markets.

Have you thought about creating a physical card you can use for payment?

Yes, this is considered but there are already many actors in this market so we will have to carry an extensive review of what is doable. What we will need to particularly clear out is whether or not we are able to provide a solution with lower costs while keeping the efficiency high.

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What will the xbank do?

The bank will first be an online x-cash storage facility where we will later allow the storage and exchange of other assets. x-bank will be tightly linked to x-payment with the goal to facilitate payments between users and developers through APIs implementation.

When the xbank will be launched, will there be an option included that involves fiat currency?

We are reviewing the possibility to later add FIAT currency (EUR) to the x-bank but this is more complicated as it involves a license from the regulator.

Can you please elaborate on the implementation details of xbank? How will you ensure safety/reliability while also not becoming fully centralized and suffering from issues that have plagued Ripple?

While we cannot fully disclose the full security features we are implementing, we can mention that we will be using a combination of hot and cold storage to guarantee most of the funds are out of reach. In addition, we have implemented a multi-signature wallet mechanism that increases the number of validators in order to perform wallet operations. x-bank will be added on top of the x-cash network meaning that all wallet operations will always be done on the x-cash network itself which is already significantly decentralized.

Will issuing gateways be used outside of the xcash ledger?

If your question is whether or not additional cryptocurrencies will be added in x-payment the answer is yes.

Will sidechains be involved in the xbank?

Likely no.

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What are the changes to the airdrop? / How the new project additions will impact airdrop and what about KYC?

In principle, the airdrop will remain the same: a 20-month airdrop program where the remaining of the monthly airdrop/bounty pool of XCASH is distributed fairly between all registered users.

Now, the airdrop will be distributed through the x-bank users. Users will have to create an account on the x-bank, and validate their account using a phone number (SMS based verification). This is the only level of verification that we will operate to validate an account to receive the airdrop. Users will have then the option to register for the airdrop when the registration is opened. The process will be relatively the same as before, except it will not go through the x-cash.org website but the x-bank.

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With POS coming in, will there be any change to the total supply of the coin?

No, the technical characteristics of the coin remain the same.

With the upcoming MN, what if a user does not have enough XCA to setup his/her own masternode?

Unless major changes in the architecture, the minimum stake to participate in the dPoS consensus will be 1M XCASH. Amounts below will not be able to participate.

I am sure there will be shared MN’s, but how to prevent the MN owner ‘runs away’ with the coins in the shared MN?

In a regular proof-of-stake scheme, there is no finite way to prevent this as the stake has to be centralized in a single wallet, meaning that this is mostly trust based. x-cash proof-of-stake will be slightly different as the “stakers” will always be in control of their stakes. We will provide shortly a detailed article on this.

If I have 100M XCA and want to setup my own MN, what is the procedure? / Will I need to setup my own server and do all the work myself? Or the team will take care of everything and I will just lend my tokens?

Setting up a masternode/delegate will involve some technical work for which we will provide a detailed tutorial. Also, we will carry an extensive alpha tests period on test net where everyone will be able to accommodate (and discover potential issues) about the new mechanism.

Another thing is, what is the minimum duration of a MN? For how long will my tokens will be locked up?

There will be no time lock for the collateral of the Masternodes/delegates. Your stake behind the voting mechanism always remains available.

To be able to run a masternode, will the quantity remains the same or will be reduced a little bit into 1M?

The minimum amount to participate is set at 1M XCASH. This might evolve, particularly based on the price of XCASH itself.

Having enough collateral is it possible for a single holder to setup multiple masternodes on the same PC?

Although it is theoretically possible to run multiple delegates on the same instance due to low computing power usage, it would require some significant additional work which we have not planned to do for the time being.

When will PoS will be available?

We are planning on switching to PoS in Q1 2019.

100M stake and limited to 500 as of the last update, is it still the same? What are the reward fees and such?

We are going to reduce the initial number of masternodes to ease and accelerate the consensus process. The reward mechanism will remain the same as initially stated which corresponds to the mining reward structure.

Will staking be through the wallet on Windows or will it be through Linux where best option is VPS?

For stability reasons, we will recommend to use a Linux based operating system to run a masternode but the binaries will be compilable on all OS.

Can you confirm there will be a way to participate to a MN even with less than the 100M?

Yes, as stated above minimum stake will be in the 1M XCASH range.

What role will masternodes play, if any, in the operation of X-Bank?

Masternodes will play a significant role with regards to consensus mechanism on the blockchain. There is no particular link to the x-bank beside the fact that it might operate one of them.

1*NhRyrGYrJDn5FWIcyC3iEw.png

Why do you help to create ERC20 tokens?

Our blockchain service offer will progressively scale up to other blockchains including ethereum. The primary reason is that there are several answers for several needs. While x-cash sidechains will be very interesting to answer customized needs, we feel there is still a strong demand for more standardized products like ERC20 tokens.

Will X-Cash be needed for creating ERC20 tokens? If X-Cash is not needed for creating ERC20 tokens please explain why?

The x-blockchain services will be the first implementation of x-payment merchants solution and as a result, x-cash, as well as fiat and other cryptocurrencies, will be used to buy the services.

Don’t you think you should focus on the X-Cash blockchain and should not provide help creating competitive ERC20 tokens?

ERC20 tokens are very standardized and do not compete with x-cash sidechain tokens. We see this more as a way to extend our offer than creating competition between products.

How Will X-Cash run its own mainnet in the future?

x-cash mainnet structure will not drastically change in the future. There will be a change in the consensus algorithm to dPoS and later on sidechains will be added.

How will the sidechain work for xcash and ERC20 tokens?

ERC20 token will always remain on the ethereum blockchains. Sidechains will have many use cases including the creation of token.

Will xcash run their blockchain on ETHEREUM? NEO? EOS ? or will it create its own mainnet?

X-cash will continue to run on its own mainnet, just as it is now.

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X-CASH DISCORD AMA #2 was originally published in X-CASH on Medium, where people are continuing the conversation by highlighting and responding to this story.


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Dear X-CASH Community,

Today, we would like to give you more insights into the development of the mobile wallet, specifically the iOS wallet (Apple devices).

This article is designed to give you a deeper look into the general user experience of the mobile wallet.

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Creating a new wallet

You can create a brand new wallet in the X-CASH wallet app. You can personalize the wallet icon to differentiate your wallets, name them and secure them with a password.

1*6V2UdK9CyeGiy56-aZT90w.png1*NGufX3rkJ8qWPHSN_UZHJw.png1*PdfGBihG33-I9pGgBrP0Rw.png

Importing an existing wallet

If you already have an X-CASH wallet, you can easily import it into the app using your mnemonic seed.

Please note that all encryption and security-related features are handled on the client side. The application does not send Mnemonic seeds and private keys to any server.
1*HBVjvCbgcO-_63d4wlwqVQ.png

Account summary and transaction details

As you can do already with the GUI and Web Wallet, you will be able to check your account summary, incoming and outgoing transactions of your wallet on the main page.

1*6UQOq_bFGpciBKICztETDw.png

Settings and wallet details, generate QR Code

You can check your wallet public and private keys, and mnemonic seed in the wallet details tab. In the settings tab, you will be able to change the parameters of your wallet app such as security (password, add a timeout and change the app server).

1*IywYxbiXmYwSh15-GRfw9g.png

You can also generate a QR code of your wallet to give to others to receive transactions.

1*d8H1HgSHGGb_MZefjxvAYw.png

Create new contact

You can add new contacts to your app by providing the wallet address or a QR code of your recipient’s wallet.

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Send transactions

Finally, you can send transactions, either by entering the XCASH address of your recipient, by choosing a contact in your contacts book or by scanning the QR code of your recipient’s wallet.

1*BRZXYmwvgwzVDqjx5GrwSA.png

As you can see, the wallet development is quite advanced, and we are planning on releasing it to everyone soon. We still have improvements to bring on the send x-cash function and on the transaction information display, but you will be able to experience it hands-on in a short time.

Do you have suggestions or questions? Please don’t hesitate to comment on this article with your remarks.

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X-CASH iOS Wallet Development Update was originally published in X-CASH on Medium, where people are continuing the conversation by highlighting and responding to this story.


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Dear X-CASH community,

It has now been 4 months that we launched the X-CASH project and it has been an incredible adventure from many perspectives.

A brief history

We have received an overall good feedback from the community and I wanted to recall the 3 major positive comments that have been brought to us lately:
- level of dedication of the team: we do work all day, 7 days a week on this project and I want to thank again all the team for this
- transparency & self-investment: we are a no-ICO project with a significant initial investment made from ourselves
- project potential and vision: we are addressing real-world issues with a blockchain technological answer

To be consistent and fair, we must also recall what has been the major critics and suggestions that have been brought to us:
- network technical issues in the early days: mostly due to potential threats from the Monero source code we inherited from and that we progressively solved
- wallet bugs and synchronization issues: partially solved thanks to the deployment of a worldwide network of remote nodes.
- lack of marketing and hype

On this last point, I want to highlight that this has been partly intentional (and mentioned from the start) as we needed time to structure the deep vision and roadmap we have for this project.

Through multiple iterations, discussions with the community, the writing of the whitepaper and several presentations, we have now come to the end of this process and we are both excited and thrilled to present you what will be the future of X-CASH.

X-CASH rebranding to x-network

1*cnLOgSumwGbSh_HZrhHAXQ.jpegX-CASH project becomes x-network

As you have noticed, our goal has always been able to build a galaxy of products that interact and have a high level of synergies. To do this, we now need to put words on ideas and create a new line of 4 products that will fall under a global brand called x-network.
In practice, this will translate in a global rebranding of x-cash.org while adding 4 other websites along the products releases in the next month.

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x-cash: a utility token to power the x-network (launched: July 30th, 2019)

In this new configuration, we are keeping the initial goal of our cryptocurrency which is to be a mean of peer-to-peer payment and a utility token to create sidechains/blockchain.

The roadmap for our cryptocurrency remains the same as we have already delivered the flexprivacy© feature that allows for transparency/privacy in the transfer at the discretion of the user’s choice.

1*Lmk0Lh8LNH4E9-OdgMT1Ug.jpegx-cash flexprivacy was released in November 2018

The PoS switch, which is a similar challenge from a technical perspective as cryptonote does not initially incorporate it, is currently under development and we are targetting February for the release of the open alpha. We will be heavily counting on the community to assist us in the tests as this will be another innovation in the blockchain space. The PoS is very important for the project as this will be the ground base that will be later used for the creation of the sidechains protocol that will allow greater scalability in the x-cash network as well as the possibility for anyone to create their own blockchain according to specific features.

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x-bank: crypto assets storage, transfer, and exchange (to be launched in December 2018)

The second product, x-bank, is a coherent path for us to follow from several perspectives. The first one is the need to onboard our users in a proper manner to facilitate the airdrop distribution. After many internal reflexions, we have decided to not carry extensive KYC to allow the users to receive the airdrop. Similarly to what has been done so far, we will ask for basic user information in order to allow the users to receive their shares of the 20-month airdrop program. Of course, in a global need and willingness to increase regulatory compliance, we will perform extensive KYC for the users requiring higher limits.

The second is our desire to launch a cryptocurrency exchange within x-bank in the first months of 2019. In short, we aim at offering low exchange fees while using the liquidity to perform the cryptocurrency conversion of our payment solution at no additional costs. Therefore, this will lead to a win-win situation for both our community and the other products thanks to the various synergies it will create.

We will provide additional details about the exchange in the next weeks but we can already emphasize that our goal is not to create the next Binance or HitBTC. This market is already very competitive and well addressed and we do not think creating an exchange with hundreds of assets would have any added value. Our goal is more to create an x-cash and main crypto-based exchange with a limited number of assets that respond to the highest standard of compliance and that operates in Europe.

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x-payment: crypto payments made easy and affordable (to be launched in December 2018)

Our third product, x-payment, reuses the concepts we initially described in our whitepaper by tackling on the long-term two major problems that are currently not well addressed:
- easiness of use and integration: users currently have to connect (remotely or not) to the blockchain to perform payments. This is not satisfactory for 90% of the current users and 99% of the remaining users in the potential growth market. We are tackling this issue by removing the technical part and offering the possibility to make crypto transfers/payments similar to traditional bank transfers
- fees: currently a crypto to fiat (and even to crypto) conversion often involves more commission than traditional payment systems. Our goal is to create the infrastructure and network to progressively lower these fees down to the point where crypto (and eventually fiat) payments will cost a fraction of what they used to. As previously mentioned, the x-bank will play a major role in this friction reduction but the access to a wide liquidity of vanilla and derivatives products will be one of the key drivers as well

This month, this will materialize in the release of x-payment communities which some of you have already tried during the open beta. The x-bank will also incorporate x-payment and you will be able to transfer x-cash (and soon other cryptocurrencies in a very similar way as you are making bank transfers). Finally, we will offer the possibility to other Discord communities to incorporate x-payment, allowing them to also generate revenues through the (very low) fees charged. The integration of x-payment in other communities will be the first of many steps that will lead to the wide adoption of x-cash and x-network in general.

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x-blockchain: blockchain made affordable, easy and efficient (to be launched in January 2019)

Our last product is a logical conclusion to the pasts months of intense work and significant knowledge increase. We are now running 13 different blockchains on our servers with tokens deployed on most platforms. We have built a significant connection in the cryptocurrency space with dozens of exchanges, coin tracking sites, and other PR agencies. We have a real expertise in designing tokens to fit the legal requirements they are intended to meet and we can create public or private blockchain to answer the needs of corporates.

We think our first x-blockchain product will be simple but disruptive. In brief, we will be launching in January a platform to create ERC20 tokens without coding skills in a matter of minutes from conception to deployment. Our key advantage will be again on the pricing side where this will start at 99€ (VAT excl.). We have already designed the templates of the contracts and fully automated the back end generation process. We are incredibly excited to launch this service as we firmly believe this will be a key part in our short-term development.

Conclusion: 4 products, countless synergies

To conclude, this rebranding is more about adding features to our ecosystem than following a new path. Despite the negative cryptocurrency market environment, we will stick (more or less) to the initial milestones we have set while adding new components in the network. Our capacity to deliver on time the innovative flexprivacy© feature is our best proof-of-commitment and proof-of-capacity to execute this project.

Our key point is the synergies that these products will generate. The x-payment solution will have access to a wider and ‘free’ liquidity from the x-bank exchange allowing to further reduce down the costs. Our x-blockchain services are benefiting from the technical expertise and infrastructure gained from the other products and will also be a first live use case of the x-payment merchants’ gateway in January. The payments made on the back of x-payment communities will use the x-bank infrastructure allowing instant execution at no marginal costs. What is more interesting is that despite the significant reduction of margins, these businesses will still be profitable because of our low-cost structure. We have a feeling that these synergies will fulfill their full potential on the back of the x-cash development, keeping in sight the long-term goal of making the market capitalization grow to allow further investments and meet investors’ expectation.

To conclude from a more philosophical and pragmatical perspective, our project is more than ever about accomplishing the long-held promise of costs and friction reduction thanks to blockchain technology. If you have the talent, creativity, skills, and risk-tolerance that such a journey requires, you are more than welcome to join us.

Many thanks,
Guilhem

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Rebranding and project updates was originally published in X-CASH on Medium, where people are continuing the conversation by highlighting and responding to this story.


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Dear X-CASH Community,

Today, November 6th at around 6PM (GMT+1), we will update the network to the latest X-CASH release 1.4 with the hardfork (V10 then V11). There will be a few major changes and exciting additions to X-CASH, such as :

FlexPrivacy©: Chose between public or private transaction with the same account

FlexPrivacy© is the most anticipated feature that we have planned for X-CASH since the birth of the project :

FlexPrivacy© adds the possibility to send a public transaction or a private transaction from the same wallet on a per transaction basis.

It will be as easy as clicking a toggle switch in the GUI, and typing « public » in front of the transfer command in the CLI.

Private transactions will work the same as before, being fully anonymous from the use of stealth addresses and RingCT. Public transactions will show :
- Senders XCA address
- Receiver XCA address
- Amount sent
- The change amount sent back to the senders address

Note: These types of transaction will never compromise either the senders r receivers wallets full balance or the real mixin of where the X-CASH came from. It is very important to keep these two details always unknown in every transaction.

This system simulates the current fiat system :
- make a transaction using a check, credit card, bank transfer etc… and leave a transaction trail (public transaction)
- pay with cash from person to person, without any outside party witnessing the transaction (private transaction)
Either way, similar to the fiat system, there is no need to have multiple accounts to pay with cash or check. Your account balance, as well as the receiver’s account balance, is never made public.

Public transactions can be enabled on any X-CASH mining pool as well, and even on a per user bases (meaning you can decide if you want them enabled or not), so make sure to check with your mining pool to see if they support them.

You can start using public transactions right after the hard fork, there’s no need to create a new account either, they are compatible with all X-CASH accounts, created at any point in time.

Revamped block explorer

With this update, we will release the new X-CASH block explorer, from which you will be able to check transactions and blocks with better visibility and clarity.

1*AiwcheKNR4O6RsKKlQvzCA.pngThe revamped block explorer will provide better reading of the blocks, and information from public and private transactions.

New additions comprise

  • a separate transaction pool for better readability on the front page;
  • an API tab;
  • statistics on the X-CASH network;

Fixed ring size

We this update, we decided to fix the ring size to 21. Fixing the ringsize enables better privacy, as to avoid multiple and unusual ringsizes that could be used to link transaction.
We found that 21 enabled a good compromise between quickness of execution, privacy, and low impact on size.

Bulletproof transaction

The latest addition of Monero 13.0. Bulletproof transaction enables much smaller transaction, hence decreased fees and more transaction per blocks. From now on, the blockchain size incrementation will decrease.

Switching algorithm

We are switching mining algorithm from CNv7 (=CNv1) to new ASIC resistant CNv8 (=CNv2). It is recommended to check if your mining software is compatible with the new cryptonight algorithm.

How to update

Please read the update instructions in the GitHub release: https://github.com/X-CASH-official/X-CASH/releases/tag/1.4.0

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X-CASH Major Update 1.4.0: FlexPrivacy©, CNv2, bulletproof and fixed ring size was originally published in X-CASH on Medium, where people are continuing the conversation by highlighting and responding to this story.


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