Safe Stake – Cryptographic Reserve Proofs.
Part 3 of 3.
What differentiates XCASH’s staking versus the methods used by all other DPOS and POS currencies is XCASH’s use of cryptographic reserve proofs. For the first time, a staking wallet no longer needs to lose access to its funds for any amount of time in order to earn a stake reward as a reserve proof is created at the point of registering a vote, and is used as the proof of stake in the delegate election process. This means that after a vote has been counted, a staking wallet can be closed and will continue to receive a reward for as long as a delegate remains up and elected. A user could vote for a delegate then close their wallet for a year– or two–, and finally enjoy the accumulated rewards they’ve earned– or if they’re exceptionally shrewd, they’ll revote their accumulated reward and enjoy a greater return in the following year. The minimum vote requires a proof of 2 million XCASH.
As mentioned above, XCASH’s staking wallets can be closed and have their devices turned off and still receive a stake reward.
DPOS is by far the most environmentally-friendly algorithm, which was in mind when weighing cost/ rewards during the planning stages of DPoPS. As mentioned above, XCASH’s staking wallets can close their wallets and turn off their devices and still receive a stake reward. A dedicated server can draw a fair bit of energy, but no GPU power draw is necessary to run a DPoPS node, and a VPS is incentivised to keep energy costs at a minimum in order to keep their overheads down. Not only that, the Android wallet draws <1% of battery life on a 4,000mAh battery over 12 hours– device models can vary. If Bitcoin consumes more energy than Switzerland, XCASH consumes equal amounts of energy with a medium sized building.
Wallets – GUI/ CLI/ ANDROID/ IOS/ XBANK
As you’d expect, the XCASH wallet is available on all major OSs as CLI– and the soon to be released GUI is in public Alpha. The Android wallet is operational, in that it can be used for the typical wallet features, but it also enables wallets to stake in the same way a desktop GUI allows.The IOS wallet is also soon to be released and later updates will include Face ID/Touch ID authentication. Lastly, XBANK functions as a custodial service managed by the XCASH foundation. XBANK leverages extensive use of cold wallets and reserve proofs to ensure an enhanced level of security, and will soon be host to swaps between XCASH and it’s first wrapped implementation on Ethereum, and following this, staking.
Download the X-Cash Wallet here: https://www.xcash.foundation/wallet
Delegate explorer & ROI calculator
No iteration of DPOS is without a delegate explorer, and XCASH exceeds expectations by building its own visually-attractive and informative explorer, along with an in-house ROI calculator, that is the closest to accuracy that can be achieved, with all variables taken into consideration.
XCASH is looking for the best and brightest minds to propose and/or build projects that will not only have an impact on the XCASH ecosystem, but on the wider crypto industry. This program allows developers from all backgrounds to contribute and earn XCASH flexibly and be compensated fairly for their work. Typically XCASH foundation publishes what builder projects are available, but an allowance has been made for project proposals. Projects can range from core features, to supplementary features.
View on GitHub:
XCASH makes crypto accessible to everyone
The X-Ambassador program is a system for contribution which allows enthusiasts to earn XCASH for content creation, community moderation, and translation works. Please wait for the official announcement.
XCASH is a well-developed ecosystem of tools, products, services– and subprojects– with a large international community, and moderately-sized core team with a desire to expand and be net-positive movers in the crypto-industry, including upholding the principles of decentralization and open-source, while insisting on transparency through every stage of project development, and ofcourse pushing the boundaries of what is considered possible in the fintech industry. 2021 is XCASH’s most exciting year yet and much is to come between March and May, and beyond.
Special thanks to our ex-miners, Delegates and Alpha/Beta testers who have stuck with us day in, day out, for a long time– here’s to our continued success.
DPoPS technical paper: https://docs.xcash.foundation/dpops/yellowpaper-delagated-proof-of-private-stake
Block 800,000 (Start of DPoPS): https://explorer.x-cash.org/Block?data=800000