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Welcome to X-Chain
The founders of the company X-Chain (hereinafter referred to as “X-Chain team”) believe their main mission is to contribute to the building of a society united by the common desire to upgrade their standards of living through the implementation of top of the range innovation and through the use of ultrahigh quality technology. And in this context, blockchain is actually the most discussed technology nowadays, and is widely seen as the obvious successor of the internet.
The blockchain technology combines a set of existing technologies, including distributed data storage, peer-to-peer transmission, consensus mechanism and encryption algorithm, to introduce a novel way of data and value formation, transmission, storage and usage.
The breakthroughs brought by blockchain technology have already proven the potential to fundamentally change the existing economic and financial paradigm and will most certainly lead to a new technological innovation and industrial change on a global scale.
So, what is a blockchain, at its core? A blockchain is a tamperproof and decentralized data structure that joins data blocks chronologically. The modus operandi of the blockchain is through a distributed ledger system which ensures its security and stability. Encrypted digital assets, such as Bitcoin, are the digital data value of such a system. In other words, blockchain serves as the underlying technology for digital assets that may or may not represent a certain value, and for a distributed, encrypted and credible accounting and clearing system. What this means, in simple terms, that there is no single entity (single point) in control of a transaction of assets, instead it’s an entire community contributing to the blockchain.
Blockchain's role in trust is like that of internet in information. What is mostly absent in internet is the Trust Protocol used to confirm the validity and authenticity of every transaction.
The blockchain technology can provide bases to solve such problems, optimizing the approaches and methods adopted by people to allow people to deal with trust, security and privacy.
Features and benefits of the blockchain technology: a brand new distributed infrastructure architecture and calculation paradigm is established thanks to the blockchain digital structure used for data verification and storage, data generation and updating based on the consensus algorithm of the distributed computer node, data transmission and access security guaranteed by cryptography, as well as data programming and operation based on smart contracts consisting of automatic script codes.
The blockchain technology will store records in thousands of, or even millions of independent computers, while these computers can work in a coordinated manner, no single entity can control them to alter data and software but, having a functional and secure distributed ledger is not enough for an ecosystem. Its performance is also of the highest importance. And its performance is measured in Transactions per Second (TPS) and transactions costs (GAS).
This is where the X-Chain team comes into play. X-Chain is a crypto engineering organization that has built a super-fast blockchain, which has +100k TPS and has zero cost GAS fees.
But before we get into any further details, please note….