Why invest in BitcoinX?
Fully customizable solutions for businesses and individuals. Everyone can pick and choose what they want or need.
BTCX is the most integral currency in the space of cryptocurrency. With every new technology we build, we seek to make cryptocurrency an user-friendly envoirment.
Recieve 15% BitcoinX
BitcoinX users will be eligible to receives a annual 15% reward which accumulates automatically.
Protection against 51%
BitcoinX eliminates the 51% attack because of its unique algorithm which tends to make attacks to almost negligible.
BitcoinX supports multiple connections than many altcoins which makes BitcoinX a unique and better cryptocurrency.
Did you know?
BitcoinX is a implementation of the Zerocoin Protocol along with Proof of stake technology , which allows users to have complete privacy via Zero- Knowledge cryptographic proofs. It is worth noting that BitcoinX is unrelated to other cryptocurrencies utilizing the BitcoinX Protocol. Although BitcoinX is a development from Zerocoin, their respective implementations are not simple forks of each other, but rely on different cryptographic assumptions with various tradeoffs. Both approaches supplement each other quite nicely, and a good way to describe them would be sibling projects.
What is BitcoinX?
BitcoinX is a project to fix a major weakness in Bitcoin: the lack of privacy guarantees we take for granted in using credit cards and cash. Our goal is to build a cryptocurrency where your neighbors, friends and enemies can’t see what you bought or for how much.
This project began with a proposed extension, called “BitcoinX”, to the Bitcoin protocol that allowed users to mix their own coin. A collaboration between the the original BitcoinX project members and cryptographers at MIT, The Technion, and Tel Aviv University, has produced a far more efficient protocol that allows for direct private payments to otherusers of hidden value. For disambiguation, we refer to this new protocol as Zerocash.
Our goal for the BitcoinX Governance system is to involve the community. We’ve got a long way to get there, but soon we expect to be making huge initial steps. This process will take a long time, and we call it Community Designed Governance. BitcoinX will work towards a ‘Community Designed Governance’ system that dramatically expands and help to reach to the community.
Advantages of Proof-of-Stake
Proof-of-Stake offers advantages over the most well-known consensus algorithm, Proof-of-Work (PoW). These advantages include:
Saving on energy costs
History of BitcoinX
BitcoinX is first and foremost a globally distributed blockchain that addresses its community as its leading members. BitcoinX has been our first project to launch on september 2017 unlike other version of BitcoinX which has no correlation with us.
Transactions as Proof of Stake
Each transaction on the network may optionally include the hash of a recent block. If this is done, the signer of the transaction can be confident that their transaction may not be applied to any blockchain that does not include that block.Under POS, every stakeholder has influence that is directly proportional to their stake, and no stakeholders are excluded from exercising this influence
What makes BitcoinX and the old Bitcoin different from previous approaches:
BitcoinX operates in the Bitcoin network and is implemented as a series of extensions to the existing Bitcoin protocol. This approach means that BitcoinX can be deployed without relying on a central coin issuer or bank (as used in previous e-cash schemes). Moreover, since no single trusted party operates the BitcoinX system, attacks on BitcoinX must take on a substantial fraction of the Bitcoin network.
The BitcoinX protocol uses provably secure cryptographic techniques to ensure that BitcoinX cannot be traced. These techniques allow users to conduct transactions on the Bitcoin network while receiving strong mathematical guarantees that the transactions cannot be traced. These guarantees remain in place even if a portion of the Bitcoin network is compromised by an attacker.
Other anonymous cash systems rely on distributing the work of anonymizing users amongst a set of parties. This approach works well if all parties are fully available but can be subject to “denial of service” attacks where a small number of nodes are taken offline. Because BitcoinX is built on top of Bitcoin, it is widely distributed among all the Bitcoin peers, ensuring that the system can remain available even when many nodes are compromised.
With the new Zerocash protocol which BitcoinX uses, unlike the old Bitcoin protocol, users can make direct payments to each other much faster with a vastly more efficient cryptographic protocol that also hides the amount of the payment, not just its origin.
The road ahead
The plan is to make a BitcoinX, powered by the new Zerocash Protocol, that provides consumers with the financial privacy they expect from debit cards, credit cards, and cash. To do this.