What is xBit?
xBIT represents the first truly “high-volume, socially conscious digital value” unit that is designed with NO price volatility. xBit can offer real stability in an otherwise chaotic world. Built on its own designated platform, XBIT’s sociability transcends the current issues of over-priced, volatile gas costs by transacting all operations with a very low constant fee structure built into the smart contract. Fees generated are used to maintain the systems low transactional costs. And, as these costs are built directly into the blockchain smart contract there is no downtime for mining etc. Completed transactions are immediate, and appear on the blockchain ledger. And this immediacy, reduces all frictions associated with cost and middle parties. As noted, xBIT is an all inclusive socially responsible digital value: with no mining, there is no need for endless systems of computers burning up power for the sole purpose of verifying transactions towards the addition of another block on a chain of blocks. No, xBIT is self contained and self reliant, using its transparency to populate the social market xBIT represents a step up in the digital world: This is entirely alien to the true nature of crypto currency. Crypto Currency needs to be liberated and democratized and available to real use for everyone. xBIT it just that, valued at a percentage of gold, usable, exchangeable, tradable, and useful. xBIT is the easy choice for your Digital Wallet.
Why do we need xBit?
xBit has been designed as a common digital value to be used and accepted as a payment/transactional settling vehicle for all social and commercial operations involving individuals, businesses and governments. xBit will transact as an established value Coin between the crypto-wallets of holders at xChange and xChange Wallet. xBit works seamlessly with xChange and will convert many types of Alt-coins into xBit coins. xBit coins are Gold-backed and can be exchanged directly with XGC (XGold Coins) coins. XGC are redeemable for Real Physical Gold directly.
What is Blockchain Technology?
A blockchain is a database with a twist. It is decentralized (the blockchain is not stored in any single location), meaning the records it keeps are not falsifiable and at the same time easily audit-able by design. The blockchain has a tamper-resistant and authorized transaction history assured via cryptography. Blockchain can be public or private, the differences can essentially be distilled down to what are the default permissions built into the network to allow new blocks to be written to the chain. Decentralization: No single point of failure or excessive influence. Immutability: Transactions are viewable by all parties creating transparency. Transaction history cannot be unnoticeably altered or deleted. Cryptographic proofs: Everything stored in xChange Blockchain is secured with cryptographic proofs, the data you provide won’t be tampered with or altered.
What is the Blockchain Consensus?
xChange Blockchain uses RAFT consensus algorithm that keeps your data safe without needing to “mine” blocks, even in the case of a situation where your nodes malfunction or become susceptible to the actions of bad actors. This feature also makes it near impossible for a bad actor to add incorrect data or change the history of the xChange Blockchain. In case of many compromised nodes, the RAFT consensus algorithm still maintains its fundamental security properties, protecting the data. xChange Blockchain also updates immediately with the addition of every new block. This consensus algorithm also allows your up to 8,000 transactions per second (within a global, distributed network) with a clearing latency of 2.5 seconds, and can handle up to 15,000 TPS in custom cases. Consensus Performance: xChange handles up to 8,000 transactions per second with a clearing latency of 2.5 seconds, and can handle up to 15,000 TPS in custom situations. Consensus Resilience: xChange Blockchain can function even if up to 1/3 of the nodes in the xChange Blockchain network are offline or compromised. Consensus Safety: In the rare case all of xChange Blockchain nodes are compromised, bad actors cannot circumvent fundamental security properties.
Why is Blockchian safe?
xChange is based on RUST, the most secure programming language to date. Rust is a systems programming language designed to be safe, concurrent and practical. It is similar to C++ with emphasis given to thorough memory management which protects against many common errors in programming. Rust is currently faster than Java and Go programming languages and continues to improve. Rust Safety: Rust uses a powerful static code analyzer and type system inspired by functional programming languages to assure execution safety. Rust Performance: Rust is a Top-3 fastest programming language together with C++ and C. Rust is also predictable in its use of resources (CPU, memory, I/O, etc).
What is Blockchain Green Friendly?
If there is no paid mining how does xChange Blockchain work?
The idea of crypto-related “proof of work” data-mining was put in play with the creation of Bitcoin. At the time it was a principle that pushed aside issues of transactional trust because it was developed to be 100% autonomous and largely anonymous: One person meeting another at a specific time and location and saying I agree with what he said.” This idea is a chain of agreement relying on the previous transactions. But, the idea has serious flaws: it serves a system of data-miners eager to confirm transactions through ”proof of work” systems at phenomenal costs of infrastructure and resource costs. And, these independent data-miners drive the transactional fees high due to the necessary recovery costs and expenses related to their business investments in “mining equipment”. A point in fact, Bitcoin was developed as a social tool to expand payment solutions for the common good. But, transactional costs have reached over $30.00 USD per use thus making the purchase of simple daily items absolutely impossible (3.50 Qt Milk + Bitcoin transaction $30 = $33.50 for Milk). Outside of the obvious extreme waste of power to drive these singular systems, Bitcoin mining has one function, to confirm transactions. And, as such, the process is entirely unsustainable and a sheer waste of natural resources. Fortunately, this type of process is not the only way to achieve the same function: Welcome inexpensive cloud. Cloud computing distributed in strategic locations using high-end performing enterprise computers backed with hyper-security, and non-penetrating hacking software lowers transactional costs and produces low and stable transactional capability. No volatile transactional markets No wasted natural resources Lower transactional fees Ability to use crypto-currency for basics Same secure functionality Let’s be clear, “proof of work” is out-dated technology. Even Ethereum have been trying to move away from it for ever. The xChange Blockchain uses RAFT consensus algorithms that keeps data safe without the function of specific “block” mining. This is due to the use of a powerful static code analyzer and type system inspired by functional programming languages to assure execution safety, and makes it impossible for any “block” interference. Immutable transparency, with 8,000 transactions per second with clearance latency of 2.5 seconds, xChain blockchain has moved far away from the out-dated technology of Bitcoin. RAFT consensus is built using Rust language, and is without doubt the most secure programming language to date and is why we have eliminated paid-mining.
Who do I contact if my account has been suspended?
If suspicious activity is performed using your wallet, you may be required under KYC laws to provide more information. Contact firstname.lastname@example.org and be sure to give us your email address and phone number used when registering.
How do I exchange xGold for xBit?
The following document is a step by step process. You must have metamask and have ethereum to make the transfer.
Download now: processing xgc to xbc
What is 2FA authentication?
Google Authenticator is a software token that implements two–step verification services using the Time-based One-time Password Algorithm (TOTP) and HMAC-based One-time Password Algorithm (HOTP), for authenticating users of mobile applications by Google.
Turn on 2–Step Verification. When you enable 2–Step Verification (also known as two–factor authentication), you add an extra layer of security to your account. You sign in with something you know (your password) and something you have (a code sent to your phone).