Greetings esteemed ExchangeCoin users!
It has been quite some time since we last communicated with you regarding the latest developments in EXCC. This does not mean that the time has been wasted. After several months of intensive work, we are proud and delighted to present to you the newest update of ExchangeCoin, which is based on the most recent Decred codebase, version 1.7.6.
What’s new?
- Significantly faster and more efficient synchronization with the main EXCC chain
- A Testnet that will now operate 24/7, serving all developers who wish to integrate EXCC into their platforms
- Updated versions of exccd / exccwallet / excctl, as well as Exilibrium
- A completely new voting system, free from registration on any additional websites
- The proper project documentation can now be found at docs.excc.co
- Numerous minor details, which can be discovered within the documentation
ExchangeCoin
ExchangeCoin (EXCC) is a versatile and innovative cryptocurrency that combines the strengths of both Proof of Work (PoW) and Proof of Stake (PoS) technologies. By harnessing the advantages of these consensus mechanisms, EXCC provides a secure, efficient, and decentralized platform for digital transactions.
PoW technology, which is the foundation of cryptocurrencies like Bitcoin, requires miners to solve complex mathematical problems to validate transactions and add new blocks to the blockchain. This process is energy-intensive and demands significant computational power. On the other hand, PoS technology, used by cryptocurrencies such as Decred, relies on validators who hold and lock a certain amount of the cryptocurrency in their wallet, enabling them to validate and confirm transactions. PoS is considered more energy-efficient and provides a more equitable distribution of rewards among network participants.
EXCC seamlessly combines PoW and PoS technologies, promoting a secure and decentralized network while ensuring an environmentally sustainable approach. This unique combination allows the project to tackle the challenges of centralization and energy consumption often associated with traditional PoW-based cryptocurrencies.
Moreover, ExchangeCoin serves as a foundation for other cryptocurrency projects, showcasing its potential and adaptability in the rapidly evolving digital currency landscape. By providing a robust and flexible platform, EXCC enables the development of various applications, fostering innovation and promoting the growth of the broader cryptocurrency ecosystem.
Exilibrium
We are pleased to announce that our refreshed Exilibrium wallet continues to be one of the safest and most convenient methods for storing, using your EXCC, and participating in the EXCC blockchain through tickets.
The new Exilibrium wallet introduces several notable features:
- SPV Mode — This enables a much faster synchronization of the EXCC blockchain.
- VPS Tickets — A new system allowing users to purchase tickets without needing to register on external websites. From now on, simply select vsp.excc.co from the list of available Voting Service Provider systems. We encourage all interested parties to open their own VSPs!
- Light/Dark mode
- Multiple minor improvements in functionality and performance.
Please note: The latest version for Windows and MacOS is not signed at this moment. This means you will need to accept the application from an “unknown source.” Signing of binary files should take place in the coming days.
Please be aware that if you are updating Exilibrium to an existing version, the wallet update may take anywhere from several minutes to over ten minutes, depending on its size.
VSP
ExchangeCoin Voting Service Provider (VSP) is a crucial component of the ExchangeCoin ecosystem that facilitates the staking and governance processes. VSPs enable users to participate in the proof-of-stake (PoS) mechanism, which is essential for the security and stability of the network.
Similar to Decred, ExchangeCoin employs a hybrid consensus algorithm, combining both proof-of-work (PoW) and proof-of-stake (PoS) mechanisms. This dual approach enhances network security, reduces the risk of centralization, and encourages community involvement in decision-making processes.
VSPs play a critical role in the PoS mechanism by allowing users to delegate their EXCC coins for staking. Delegation involves users “locking” their coins and assigning the voting rights to a VSP, without transferring ownership of the coins. This process enables users to earn staking rewards without needing to maintain an always-online wallet.
Once a user’s coins are delegated to a VSP, the VSP will use the user’s voting rights to participate in the blockchain’s governance process, such as voting on consensus rule changes, development funding, and other network decisions. The VSPs ensure that the user’s votes are cast in a secure and transparent manner, while the user maintains full control over their coins.
In summary, ExchangeCoin Voting Service Providers offer a seamless and secure way for users to participate in the PoS mechanism, allowing them to earn rewards and contribute to the network’s decision-making process. By utilizing VSPs, the ExchangeCoin ecosystem fosters a more decentralized and democratic environment, similar to the Decred model.
What’s next?
We are currently working on refreshing our main website, excc.co, to include more essential information. Once this work is completed, we will update the entire environment to present a unified, visually cohesive experience, taking into consideration the design of the new website.
ExchangeCoin CSPP Mixing System
We are excited to start working on the ExchangeCoin CSPP Mixing System, a cutting-edge privacy enhancement feature for our users. Inspired by the Decred Coin’s privacy solution, our mixing system aims to provide increased anonymity and security for your transactions.
The ExchangeCoin CSPP Mixing System employs a technique known as CoinShuffle++ (CSPP), a decentralized, trustless, and censorship-resistant mixing protocol. It enables users to mix their EXCC coins with those of other users, making it difficult for third parties to track individual transactions or associate them with specific users.
Here’s an overview of how the ExchangeCoin CSPP Mixing System works:
- Users initiate the mixing process by connecting to a CSPP server.
- The server gathers a group of users who want to mix their coins.
- Each participant creates a new EXCC address, encrypts it, and shares it with other participants.
- Participants then collectively create a mixed transaction, which includes inputs from all users and sends the mixed coins to the newly generated addresses.
- The mixed transaction is broadcasted to the EXCC network, effectively obscuring the connection between the original inputs and outputs.
By leveraging the ExchangeCoin CSPP Mixing System, users can confidently transact on the EXCC network, knowing that their privacy and financial data are well-protected.
EXCC-DEX
ExchangeCoin DEX will be an innovative decentralized exchange (DEX) platform designed to facilitate secure, efficient, and user-friendly trading of cryptocurrencies. Inspired by the success of Decred DEX, our mission is to empower individuals and promote financial freedom through the use of decentralized technology.
Key Features of the Upcoming ExchangeCoin DEX:
Security: As a decentralized exchange, ExchangeCoin DEX will eliminate the need for a centralized authority, reducing the risk of hacks, fraud, and other security breaches. Users will maintain control over their private keys, ensuring the safety of their assets.
Liquidity: ExchangeCoin DEX aims to provide high liquidity, making it easy for users to trade and swap a wide range of cryptocurrencies. By integrating advanced order-matching algorithms, our platform will ensure seamless and efficient trading experiences.
Interoperability: ExchangeCoin DEX will support cross-chain transactions, enabling users to trade and exchange cryptocurrencies from different blockchain networks. This interoperability will foster an inclusive and diverse crypto ecosystem.
Governance: Drawing inspiration from Decred, ExchangeCoin DEX will implement a robust governance model that allows token holders to participate in decision-making processes. This community-driven approach will ensure that the platform remains transparent, fair, and accountable.
Scalability: ExchangeCoin DEX will be built on a scalable infrastructure designed to handle large volumes of transactions, allowing for seamless growth and adaptability as the platform evolves.
By combining these features, ExchangeCoin DEX aspires to become a leading decentralized exchange platform that offers secure, user-friendly, and efficient cryptocurrency trading experiences for all users.
Exilibrium
For the new version of Exilibrium, we plan to integrate the xchange.me service, enabling fast and private cryptocurrency exchange. Additionally, we intend to make it possible for EXCC accumulated in the Exilibrium wallet to be used for covering exchange fees on the platform.
Summary
We invite you to familiarize yourself with the ExchangeCoin ecosystem and interact with us on our social media platforms.
https://excc.co
https://docs.excc.co
https://t.me/ExchangeCoinChat
https://twitter.com/EXCC_Team
You can also follow EXCC on:
https://coinmarketcap.com/currencies/exchange-coin/
https://www.coingecko.com/en/coins/exchangecoin
