BASIC INTRODUCTION TO BLOCKCHAIN TECHNOLOGY

INTRODUCTION

Imagination has continuously allowed us to take a position regarding what others are thinking and feeling, immortality conjointly curious on our mind and even to make entirely fictive lives; and that we have long-established desirous to recruit technology to its service. we've used art, music, books, movies, television, and currently, the net to thrust ourselves imaginatively into the places and lives of others. and also the rise of social networking has solely concentrated our creative capabilities by permitting us to forged snippets of our own lives painful, sorrowful, lonely, exuberant, standard into the tumult, inviting others into our place as we tend to are invited into theirs. The Avatars come up to be the logical next step, taking the narrative imagination of fiction, the aesthetic imagination of cinema, and also the self-styling power of social networks, and mixing them into virtual worlds that get to mimic real-world interaction.

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What is Xtrabytes?
"XTRABYTES (XBY) may be a standard blockchain platform designed to produce vital will increase in security, quantifiability and decentralization opportunities over current blockchain technologies. Utilizing a freshly created formula, (Zolt) and agreement technique, Proof of Signature (PoSign), XTRABYTES offers a platform on that redistributed application (DApp) developers and services will produce and form the longer term of blockchain technology. XTRABYTES isn't an ICO, it is a community-driven project."

Instead of one mineworker language every block in captive or POS, every block is signed by all Static Nodes. it's an inexperienced technology and far safer than the standard Proof of Stake agreement formula. This Medium article will a good job of explaining however POSIGN works, and why it's fascinating over alternative agreement algorithms.

So first, and most significantly, XtraBYtes’ developer Zoltan Szabo, aka Borzalom, is functioning on the PoSign, or Proof of Signature thought on the XtraBYtes platform. this can be a speciality in each work and theory, and separates itself from alternative coins by having the ability to truly log out within the organ (Virtual data Transmissions orienting STaTiCs, STaTiCs standing for Services, Transactions and trusty in Control) network, confirming that every signature to the blockchain is trusty and secure; and doesn't use the presently in style proof of labor and proof of stake ideas, which, once finished, ought to be revolutionary within the blockchain space; as it is the sole coin of its kind to presently try this.

The XtraBYtes network itself will all the work, and makes positive that with every group action to the STaTiC nodes, that it signs and secures to the trusty STaTiC nodes only; creating it not just one of the foremost secure blockchains that may be obtainable, however it'll conjointly facilitate with each information storage and people seeking to create on its platform and use that storage, and ensures security for future users of each the XtraBYtes platform and any hosted applications on the XtraBYtes platform that will use the network to each develop and performance on. Basically, think about it within the terms of an enormous, redistributed disc drive for applications and storage.

What makes Xtrabytes higher than good?
DApps engineered directly onto the blockchain
X-Vault: redistributed information storage
X-Change: redistributed crypto exchange
X-Deal: good contracts
X-Pay: payment services
Wallets: Windows, Mac, Linux

The STaTiC nodes speak with one another on the XtraBYtes platform, and homeowners of the STaTiC nodes receive rewards for each services getting used on the blockchain, transactions on the network, and group action fees that occur – which supplies STaTiC node holders a good reason to carry and not “break” their STaTiC nodes! every STaTiC node is that the same and sees constant transactions and every block is equally visible by the network. Now, if a STaTiC node were to become desecrated (hack, glitch, etc), the network would blacklist it and continue language solely blocks that were valid.

Skipping a small amount ahead as I don’t need to urge too slowed down within the initial structure of the platform as that has been already been explained in nice length on their ANN, CCRevolution, one among the 2 founders of this extraordinary platform, has recently discharged news regarding approaching modules. What do they do? The short answer is that an XtraBYtes module permits developers themselves to attach to the XtraBYtes platform and build each new and link existing applications on the platform.

Think of it reasonably just like the Apple Store, except for programmers to be able to build their platforms on prime of a secure, nearly impenetrable blockchain and within the same breadth, once the modules area unit online, developers are going to be able to interlink their programs and applications, granting cross use platform usage still. This, as CCRevolution says on their ANN, is that the “use case” of the program.

Features of Xtrabytes (XBY)
3rd Generation Coin like Eos and ada
Community coin, no majority holders.
10,000+ transactions per second (infinitely scalable)
New Proof of Signature Technology (Zolt - agreement algorithm)
Smart Contracts (X-Deal)
Decentralized DApps, Exchanges
Decentralized Cloud Storage Services (X-Vault)
Instant electronic communication Module
More secure than captive or POS systems (adjustable security protocol)
Payment Services (X-PAY)

When the platform involves life during a few a lot of weeks (my best guess), and it delivers as secure, we tend to might very well see ICOs that will supply larger initial investments over time, with none risk of the network or websites bloody as we’ve seen in several alternative blockchains. it'd conjointly solve the difficulty of hacking because the developers say that they're systematically testing and change the platform to confirm the best security; hopefully making brand new confidence in ICO investors.

The Roadmap