There are many cryptocurrencies out there expanding and improving on privacy within the crypto industry to make trades, withdrawals, transfers and deposits transparent... anonymous. GenesisX focuses on both improving privacy (Zerocoin protocol) and increasing security substantially so hacking, key logging and scamming are a thing of the past. We look to adapt and integrate a 2FA (Two Factor Authenticaton) feature so each withdrawal and transfer requires your wallet to be unlocked and a timed generated code is sent either to your email or mobile device. These both will improve security - further to this we are going to announce more features throughout 2021 and the unforeseen future.
- For those who do not know of Zerocoin or the possibilities of this extension. Through zero-knowledge proofs, coin holders financial transactions are kept completely private and anonymous. In other words, Zero-knowledge proofs allow for financial transactions to occur with the only public information being that money was indeed sent or received.
- Fast transactions featuring guaranteed zero confirmation transactions, PIVX named it SwiftX.
- In simple terms, a masternode is a cryptocurrency full node or computer wallet that keeps a full copy of the blockchain in real-time this is always kept up and running (unless you close the server your masternode is running on). There are many positive aspects to masternodes as they can increase the privacy of transactions and can contribute to perform instant transactions. GenesisX masternodes has also introduced a governing system which enables and gives masternode holders rights to vote for possible upcoming changes and gives them power in this project so the community is supported. Masternodes also help the circulation of XGS (GenesisX) and gives others opportunity to invest if reward holders choose to sell their gains. We look to enforce a budgeting system in the future which will involve the use of masternodes. Having a masternode enables you to mine without the stress of having to keep your mining rig running (because you won't need a mining rig) and it will not produce high electricity bills. Of course you won't need the hardware such as GPU's (Graphic cards) which tend to cost a lot to use your masternode.
More information at GenesisX.network Visit our ANN thread at BitcoinTalk
| Algo | Xevan |
| Block Time | 60 Seconds |
| Difficulty Retargeting | Every Block |
| Max Coin Supply (PoW Phase) | 190,200 XGS |
| Max Coin Supply (PoS Phase) | 19,000,000 |
| Premine | 190,000 XGS |
| PoW Phase | |||
|---|---|---|---|
| Block Height | Reward Amount | Notes | Duration (Days) |
| 1 | 190,000 XGS | Initial Premine | 0 Days |
| 2-200 | 1 XGS | Test Mining | Approx 0 Days |
| Phase | Block Height | Reward | Masternodes | Stakers |
|---|---|---|---|---|
| Phase 1 | 0-200 | 1 XGS | 60% (0.6 XGS) | 40% (0.4 XGS) |
| Phase 2 | 201-25000 | 15 XGS | 60% (9 XGS) | 40% (6 XGS) |
| Phase 3 | 25001-100000 | 30 XGS | 70% (21 XGS) | 30% (9 XGS) |
| Phase 4 | 100001-200000 | 20 XGS | 80% (16 XGS) | 20% (4 XGS) |
| Phase 5 | 200001-500000 | 10 XGS | 85% (8.5 XGS) | 15% (1.5 XGS) |
| Phase 6 | 500001-1000000 | 5 XGS | 90% (4.5 XGS) | 10% (0.5 XGS) |
| Phase 7 | 1000001-2000000 | 2 XGS | 90% (1.8 XGS) | 10% (0.2 XGS) |
| Phase 8 | 2000001-Max | 1 XGS | 90% (0.9 XGS) | 10% (0.1 XGS) |