WHAT IS XENDBIT?
XendBit is a decentralised blockchain platform for remittances, payments, aid disbursement, store-of-value and credit.
Centralised exchanges are susceptible to internal and external security risks. The XendBit wallet uses bank-verified KYC and is being developed as an exchange.
XendBit will be a platform to enable new blockchain-based financial services, taking advantage of the new opportunities presented by the blockchain ecosystem such as smart contracts, ICOs, crypto-loans, venture financing, and tokenization which will power digital identities, certificate registration and verification services.
XENDBIT SERVICES
XendBit is a fully decentralised blockchain platform that allows users to trade safely and securely without risking customer funds.
XendCash
Remitting cryptocurrencies and instantly transferring value in any currency anywhere in the world through instant settlements.
XendAid
Leveraging blockchain technology to empower and provide grants and disburse aid by transparent, immutable & cryptograhic processes.
XendCredit
Application of blockchain technology for financial inclusion with access to credit after account creation.
WHY XENDBIT?
Unlike most global exchanges which are centralised, XendBit is the first decentralised digital asset exchange focusing on Africa.
Reduced Transaction Cost
XendBit features Xendcoin, which is native to the XendBit DEX. Transactions based on Xendcoin will attract lower fees.
Localised Tether Coins
As P2P trading becomes more fluid, traders can engage and settle trades faster than bank transfers or foreign TetherCoins.
Easy Bank Integration
The XendBit blockchain platform is able to integrate with most banks in Africa and beyond including Nigeria, Ghana, Kenya, South Africa and Rwanda.
XEND BLOCKCHAIN FEATURES
Smart Identity
Creating an identity on the blockchain can give individuals greater control over who has access to their personal information. Through the blockchain, identities can become globally accessible in a way that creates more transparency for service providers such as financial services, charities, donors, grant makers and sponsors. A blockchain-verified identity also addresses the challenges of establishing provenance, authentication and reconciliation faced by many industries. Xend’s Smart ID is a DApp that enables the use of blockchain in areas such as digital identities, banking, passports, e-residency, birth certificates; wedding certificates and online IDs.
The Xend Smart ID Card offers a convenient way for individuals to make micropayments through an embedded RFID which stores the Xend wallet’s private key, encrypted with a two-word phrase.
Smart Nodes
Smart nodes are blockchain nodes that require KYC registration of node owners, whereby the nodes run in a semi-permissioned mode with incentives (harvesting). Smart nodes are associated with a registered and verified XendBit wallet in a way that prevents the possibility of a 51% attack on the blockchain network.
Smart nodes will be further protected by a specially built Linux Operating System (OS) Live image comprising of uniquely selected applications, tools and packages with zero vulnerabilities that will ensure the highest level of OS security.
Smart Java Beans
SJBs are based on the concept of java beans, originally conceived by James Gosling, that can be run on the NXT blockchain. SJBs stateful smart contracts design is also drawn from the lessons of flexibility, scale, and security from digital circuit design principles.
SJBs must follow approapriate naming conventions. For example, methods that must return a value must begin with ‘get’ e.g. ‘public long getAccountBalance(). These types of methods cost 0 to execute and don’t affect the state of the SJB on the blockchain.
Xend dApps Platform
The Xend dApps platform inherently employs Java technology scalability features to handle high transaction volume. Often known to clog dApps networks, high transaction volume leads to slower transaction times and inflated fees as seen on other popular dApps-based blockchain platforms. Examples of Xend dApps include XendCash for remittance, XendAid for transparent and more efficient aid disbursement, and the upcoming XendCredit for financial inclusion.
Originally, NXT presented a powerful blockchain with a robust set of features as a leading 2nd generation blockchain. While NXT did not originally suppport smart contracts, they have now been added as part of Jerulda’s implementation of lightweight contracts. It is noteworthy however that the XendBit team was able to implement smart contracts alongside Jerulda’s current initiative.
TOKEN
TOKEN DISTRIBUTION
TOKEN ALLOCATION
ROAD MAP
With help from our team, contributors and investors, these are the milestones we have achieved and goals we are working to acomplish.
2017 Q1
Android Bitcoin Wallet.
Brokerage and asset custodian service development.
2017 Q2
Multi-Chain Wallet implementation
Support for Bitcoin, Litecoin, Ethereum e.t.c.
2017 Q3
Investigation of Various Blockchain Technologies.
Development of Wallet with Utility Coin.
2017 Q4
Semi-Centralised Exchange
Server-Side Implementation.
Remote Transaction Signing.
2018 Q1
XendBit Blockchain Forked
Alpha Release of XendBit Exchange
2018 Q2
Multi-Chain Decentralised Exchange Features
Fiat-to-Crypto & Crypto-to-Crypto
2018 Q3
Alpha Release of XendCoin Blockchain
Smart Contract Support
2018 Q4
Token Sale
Private Sale, Public Presale
Full Service Launch
Partner Onboarding for XendCash & XendAid
2019 Q1
Public Sale (ICO)
XendCash & XendAid Blockchain Applications v1.0 Release
API Development
2019 Q2
XendCredit Development
XendCredit Will Reduce the Cost of Micro-lending.
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