By Spencer Kellogg | @Spencer_Kellogg
Open. Feeless. Infinite. Those are the three words that greet users of the x42 Protocol, a new cryptocurrency that launched in the late summer months of 2018. In the world of cryptocurrency, manufactured hype and speculation often cloud the true viability of new projects in the nascent marketplace. x42, however, appears to have all the trappings of a strong, working product for innovation and finance.
x42 is a decentralized cryptocurrency that promises zero fees and infinite scalability. The coin can be transferred privately in an instant and the platform itself acts as a creative authoring hub for launching an assortment of applications ranging from indie game developers to large-scale business models. Maintained by the blockchain, x42 provides a flexible entry for entrepreneurs and amateur content producers alike to create, maintain and execute smart contracts and customizable side blockchains.
A technology based on the Stratis cryptocurrency, x42 smart contracts are written in the common language C# and provide builders with a framework to launch their own blockchain applications and projects. Utilizing the Breeze Wallet, x42 transactions are private and untraceable ensuring anonymity for core community users. The project is growing in interest every day and their Discord channel boasts over one thousand users already.
At this moment, the x42 team is focusing on releasing tiered nodes and an entry-level master node is available by purchasing and holding 1,000 coins in the x42 core wallet. x42 protocol employs Proof of Stake (POS) and rewards users who stake coins in the wallet with a payout every 1-3 days. x42 coins can be purchased at the Start-Ex cryptocurrency exchange.
Unlike many cryptocurrencies that utilized ICO’s during the crypto gold rush of 2017, the x42 team used a traditional launch that included a pre-mine of 25% of their full coin supply (42 million coins). The rest of the coin supply will be printed by the year 2030. This incentivizes users to hold their coins in a wallet and receive staking benefits. Block rewards are 20 coins per block until the block number 550,000 is reached (likely October of 2019) at which time the reward will reduce to 5 coins per block. For more information on coin supply and market cap, check out CoinGecko’s page for x42.
The use cases for x42 are impressive in their diversity. Developers have suggested that the platform can be used to create casual gaming infrastructures like Ethereum’s wildly popular CryptoKitties or to build more sophisticated tech like Maps or Virtual Reality applications. x42 can also be used to uphold contracts via a modeled reputation system or to even remotely control small and large-scale equipment for businesses.
x42’s combination of feeless, private transactions and a smart contract platform that can create and execute decentralized applications make it an interesting project to purchase and hold for the future. The team is active on several social media platforms and they have, so far, achieved every stated goal in a timely and professional manner. With less than 600 followers on Twitter, this is still very much the early stages for the x42 project and a good opportunity for speculators and tech-interested investors alike to join a budding project in its infancy.
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