What is VXXL?
VXXL emerged as a response on 51% attack happened with one small blockchain and which led to loss of over 6.2 billion tokens of that project on XT.com exchange, situation is very similar to issue of infinite minting which LUNA once suffered. Then the owner of that small blockchain project reacted same way as Kwon Do wanted to: both these guys decided to solve their problems pulling cash out of the community. So the the guy performed hard fork and reversed blockchain in order to delete all coins which community were buying on XT saving only “his” personal coins. Thus, he executed totalitarian centralization of that blockchain, made changes in the Core to force all mining available only inside a single pool which he solely controls and in such way becomes the totalitarian autocrat.
Though it turned for the best, because VXXL now exists and is our joint efforts to develop a truly decentralized and fastest, transactional PoW coin that can serve as a good alternative to the current industry standards. Various alternative currencies (alt coins) have come and gone. Some brought innovation, but they all had problems.
VXXL is a peer-to-peer web 3.0 currency that allows instant (7 seconds per block), nearly free payments to anyone, anywhere in the world.
Only 84 billion VXXL (84'412'531'699) will be mined during next 30 years.
Unlike any of other fast transactional coins, which either operate on PoS protocols (TRC, ETH, XLM etc.) or completely centralized (like XRP), VXXL is a global payment network that is fully decentralized and has no central authorities. So far no one can counterfeit transactions, change the emission size or seize funds injecting double-spending. While decentralization turns the maintenance of coin’s independence to a real challenge for the community, it also makes impossible to lose money with VXXL.
Relevant approach makes VXXL a far more practical alternative to both other altcoins and {especially} to fiat currencies, used in particular across corporate payments sector.
VXXL is about caring of its community, so we ensure your journey to mining and transacting on our chain is a comfortable experience and there is always someone on hand to help.
51% attack protection & steady growth of hashrate
To avoid major problem which all PoW coins face, we implemented unique functionality of hybrid PoW+PoS protocol.
How it works: VXXL still remains completely decentralized PoW coin with a maximum mining reward of 1500 VXXL per block, though we eliminated halving principle and instead of that, the amount of mining reward is related to network’s difficulty. At the same time, interception of mining hashpower is impossible, because additional layer of PoS verifies all PoW transactions via nodes/wallets holding coins for more than 10 days but not more than 900 days to avoid concentration of power in OG hands.
A very important point of VXXL hybrid protocol is its architecture, structured in such a way to prevent potential drop of hashrate in case of significant devaluation of the coin. We believe that growth of hashrate is only necessary for diversification of full nodes maintenance and not for artificial profits of asic rigs producers, that’s why we provide both PoW (mining) and PoS (staking) rewards at the same time.
We reward and incentivise mining community members to assure relevant growth of the community and further enhance the coin’s adoption. Our community is launching several mining pools to ensure everyone can participate in truly decentralized emission process and will be getting the share of this emission even having smallest mining power like old laptop or even smartphone.
You can connect to the mining pools, download wallets, find blockchain explorer and see latest reward sizes at official website https://VXXL.org.
And of course check the source at https://github.com/VXXL-Project/VXXL.
License
VXXL Core is released under the terms of the MIT license. See COPYING for more information or see https://opensource.org/licenses/MIT.
Business Development
VXXL community already chosen over 50 promising projects for funding and will be launching numerous liquidity pools steadily growing into major player of DeFi sector. VXXL will launch its Wrap Gateways to ETH in July and to BNB in August & is targeting to achieve 1 billion USDT worth in TVL within first year. VXXL roadmap is live at its official website, though VIP channel (VXXL Improvement Proposals) is available via our GitHub.
Conclusion
We created VXXL in order to close the liquidity gap for all emerging or existing projects, which have vibrant idea and relevant team though still facing necessity to look for “big” investors.
We believe it is possible to turn the clock of crypto power back to 2017 when currently prominent projects were able to raise funds just by placing PDF deck with their idea. And ideas were funded.
Here we go again with VXXL : to fund the ideas. So join us.
Our Telegram channel VXXL main:
