In an important development, the pioneering personality in the field of cryptography David Chaum has announced the arrival of the xx coin. The digital currency is going to support a host of dApp applications in addition to supporting payments and messaging on the xx network. The technical details related to this new arrival are still awaited and expected to be revealed only at a commemorating function scheduled to be hosted at the National Research Institute for Mathematics and Computer Science next week. One key highlight of this project is the collaboration between Elixxir and Praxxis, which going to be extremely beneficial for prospective users.
Speaking on occasion, Chaum said that this new invention is going to support the network by providing superior privacy of Elixxir and speedy transactions thanks to the support of Praxxis. So that you know, the fundamental Idea behind the invention of the xx network is to preserve the privacy related to the users’ transactions. The concept of quantum computing is increasingly being witnessed as a threat to the users’ privacy, and hence, the invention of the xx network came into being.
By specifically shredding the metadata of the user, the Elixxir network can provide the highest level of privacy and security to users. Praxxis, on the other hand, helps by breaking the large payment into individual coins, thereby providing additional security to the payments. It makes the whole transaction processes almost immune to attack from the quantum computer and other adversaries.
The xx network beta-testing phase is scheduled to be launched in 2020 and able to provide superior customer experience thanks to the integration of Elixxir and Praxxis. A total of 600 nodes have been selected for the implementation of the network of this year by developers.
Praxxis’s COO, William Carter, said that this new collaboration is going to provide a safe and secure user experience, which is a prime reason why people still hesitate while dealing with digital coins. Further, the high speed and low-latency of the project is going to help millions of users worldwide to derive benefit from this innovation. In sum, the xx coin is expected to spur the digital coin transactions and could very well prove to be the next milestone in the crypto world, integrating prowess of both Elixxir and Praxxis software.