TEAMTALKS #28 — IXIAN
TEAMTALKS PROVIDES A SOAP BOX FOR THE CRYPTO TEAMS THROUGH RAW AND UNEDITED Q&A — THIS TIME I MET WITH DAMIR, CO-FOUNDER AND UX LEAD AT IXIAN.
Who are you? What is your role on IXIAN?
My name is Damir. I’m the Co-Founder and UX Lead at project Ixian.
What are IXIAN’s key features?
Ixian aims to be a fully scalable, decentralized p2p platform, which utilizes blockchain technology.
Ixian combines a DLT which is capable of handling high volumes of micro transactions with a decentralized S2 Network. This effectively allows encrypted high speed data transfer across a global network of nodes.
To display a perfect use case, we are developing Spixi, a decentralized instant messenger. It is powered by Ixian DLT and Ixian S2 networks, with an integrated IxiCash wallet. Spixi will not use any centralized servers, nor will it collect any personal information such as phone numbers and emails. All that will be required for use is to install the Spixi client and have a working internet connection.
In terms of Ixian’s specific features we can break it down to the following:
- High volumes of micro transactions are handled quickly and efficiently.
- Low transaction fees enable a true ecosystem for micro transactions.
- Fast and secure end-to-end communication and data transfer.
- Secure and private text, voice and video chat, with state of the art encryption methods.
- Every node (be it Ixian S2 or Ixian DLT) can earn revenue by participating in the network.
- Ability to stream real-time content to countless viewers, while earning revenue.
- Fully open source technology.
- No third parties, no central points of failure, no private information collected
- Ability to maintain presences of connected nodes which allows a number of different technologies and applications to be built on top
Why does the world need IXIAN?
In the recent past we have observed a number of high profile services experience severe downtime and hacks where personal information was compromised or leaked. Even some governments are enforcing censorship and forcing messaging services to decrypt communication.
We are also considering events such as the recent Facebook-Cambridge ordeal, Equifax and similar breaches, which suggest that there might be a real need for something like Ixian in the near future.
Ixian, by its design will never be in a situation where anyone can demand the user’s messages or “decryption keys” of Ixian users from us, simply because we won’t have them.
Additionally, a central repository of all user data and messages will not exist for it to be breached or leaked.
We are witnessing personal data becoming an asset for some and the public has become more aware of the dangers to their privacy and security of their data. So by building a decentralized platform, we are trying to eliminate the centralized server and the so-called `central point of failure´.
Not only are server farms frequent targets of attacks, they also consume enormous amounts of energy. Add to that the costs of renting/maintaining servers and you’ve got a perfect culprit.
Having said that, we do believe that there are a number of existing services which can significantly benefit from Ixian and in certain cases eliminate the need for servers all together.
Some of the benefits of Ixian platform include the following:
- Users do not have to pay for third party services and do not have to worry about potential data leaks, privacy issues or even censorship.
- Services utilizing Ixian S2 Network require smaller operating budgets, which in effect means that these services can be provided at a considerably lower cost.
- Indie developers with minimal budgets can now create products that require large infrastructures to run/scale without the costs related to such infrastructures
- Developers will be able to create their own crypto tokens based on Ixian DLT with a fixed conversion rate to IxiCash.
Imagine a group of indie developers who want to develop a streaming platform similar to Twitch. With Ixian they can create such a platform without having an infrastructure set in place, where the users of these services will effectively form that infrastructure that they will be using. In the same way multiplayer gaming networks will be possible. One of the main features of Ixian is the so-called presence list which allows developers to build such networks easily without the need for a centralized server.
Generally speaking, we want to empower developers to deliver their solutions on a decentralized platform, saving resources and reducing entry costs by doing so.
We believe that without the limitations most existing blockchains face in these areas, decentralized services will become more and more popular.
Who are IXIAN’s competitors?
When we started out we failed to find a project or a service that aims to solve the same issues with a wholesome approach as we are doing. Down the road we have identified certain projects, that are working on solutions which resemble parts of what we are doing.
To name a few:
- Adamant, a decentralized messenger
- Xaya which aims to handle blockchain based gaming
- Theta are tackling decentralized video streaming
We do believe that competition is healthy, especially for next gen solutions. It contributes to innovation and tends to improve the quality of such products and services. So in the end, it benefits the developers and users of such services as well.
Why is IXIAN superior/different? (to its competitors)
When we were starting out we planned on using an existing blockchain, but couldn’t find a perfect fit. So we decided to build one from scratch. While doing that we set out to develop an entire ecosystem which will allow developers and users to create a number of different decentralized solutions.
We didn’t copy anything, we know our technology inside-out and we’ve built it with end-to-end data streaming in mind from the beginning.
We’re focusing on a very specific problem, which blockchain can solve very effectively and not going overboard with broad features and different technologies. We have a realistic goal and a way to achieve it.
Can you give a quick rundown of important tokenomics?
As you might have noticed, Ixian did not hold any pre-sale, ICO or other funding campaigns.
We wanted a model where all users would be able to participate with minimal initial investment, but at the same time make it difficult and prohibitively expensive to subvert the network’s operation.
Our decision and approach to the so called “tokenomics” is based on long term prospects, where we estimate that IxiCash could potentially be used by millions of people to power the S2 Network.
Because of that we decided for a hybrid model. For initial distribution of IxiCash, mining seems to be the best way for various reasons. As more users set up their nodes, the network itself will become more resilient against attackers and increase its capability for handling large numbers of users. This will mean that more users will participate in the distribution of IxiCash as well. After a sufficient amount of IxiCash has been mined, mining will be permanently switched off and new currency will only be generated through other means.
The Ixian economy differs substantially from what we are used to in the crypto space. Most cryptocurrencies out there rely on a capped supply and smaller and smaller emissions over time to increase value for investors and early adopters, whether it be PoW related with reducing block rewards or PoS. We have decided to start with a minimum supply and gradually increase the rate of new IxiCash generated for the first 5256000 blocks (roughly five years), the idea here is to have a more even distribution of IxiCash among miners/users. On block 5256000, mining will stop and we expect the total supply at that point to be about 25 billion IxiCash. After block 5256000, the only way to generate new IxiCash is by running a Master Node, which will inflate the total supply at 5% per year until total supply reaches 50 billion IxiCash. While supply is between 50 billion and 100 billion IxiCash, the inflation rate will be at 1% and after 100 billion IxiCash in circulation (which should happen in about 100 years), it will be fixed to 1 billion IxiCash per year. By not capping the supply after 100 billion IxiCash in circulation, we are trying to compensate for coins that get lost over time (i.e. by users losing their keys, sending to invalid addresses, …).
IxiCash is as such intended for micro transactions, where users will be able to send the currency to their friends or pay for user created content on the Ixian S2 Network in real-time. It incentivizes node (DLT and S2) operators which are essential for network integrity and service stability.
The block reward through PoW is increasing all the time, but not to an extent that it would seriously diminish the value of early miners´ gains. What we are trying to do is discourage speculators and reduce their influence on the market, and at the same time encourage new miners to join the network and keep the distribution of IxiCash more even. Comparing block rewards at roughly the end of first year since the genesis block of 4000 IxiCash to 16000 IxiCash after 5 years is a 4-fold increase, while we can expect that the number of miners and mining power during that time will increase by a much larger factor.
The genesis funds or the so called premine amounts to roughly 2 billion IxiCash (2,000,320,000), of which 1 billion is locked as a team reward for a vesting period of 5 years (20% to be released at the end of each year). The other 1 billion IxiCash is intended for funding further development and all other important activities.
The current supply is 2,232,078,967 IxiCash.
The target mining inflation rate is as follows:
- Target mining inflation rate is 1.2 billion additional Ixis until block 1051200 (roughly 1 year from genesis block)
- 2.5 billion additional Ixis from block 1051200 to block 2102400 (roughly the second year of operation)
- 3.7 billion additional Ixis from block 2102400 to block 3153600 (roughly the third year of operation)
- 5.3 billion additional Ixis from block 3153600 to block 4204800 (roughly the fourth year of operation)
- 6.7 billion additional Ixis from block 4204800 to block 5256001 (roughly the fifth year operation) which totals to about 20 billion Ixis in about five years
After block 5256000, mining IxiCash will no longer be possible, after which time only staking will create more coins.
Staking inflation rate is as follows:
- 0.1% per year until block #86400 (blockheight was reached in less than 2 months)
- 5% per year until 50 billion IxiCash in circulation
- 1% per year after 50 billion IxiCash in circulation
- 1 billion per year after 100 billion IxiCash in circulation
This effectively means that after a certain period of time, and sufficient amount of IxiCash is generated, the staking reward will be locked. This way we will replenish the supply to compensate for lost coins, but not over inflate the circulating supply. By setting the inflation rates at these levels, we are ensuring the long term sustainability of the Ixian platform.
Can you give a quick rundown of the IXIAN motor?
Ixian relies on different sets of rules and algorithms which allow it to handle all the operations we wanted it to.
To name each as follows:
- Signing algorithm — RSA 4096
- Encryption algorithm combines RSA 4096, AES 256 and CHACHA
- Hashing algorithm — SHA512
- Mining algorithm — Argon2ID
- Consensus algorithm is a custom-made algorithm, called Ixiac, built specifically for Ixian.
You can find more information on the following link:
Block time is approximately 30 seconds, while operations per block are currently capped at 2000, which means that the number of transactions per second is capped at 66.6. This number can and will be increased in time as the technology is optimized. It also depends on the hardware and internet bandwidth.
Each Ixian Master Node and S2 node currently makes 6 outgoing connections and is capable of accepting 200 incoming connections. With this configuration, the network can currently support up to 50 clients per Master Node and S2 node. We plan to increase this limit as we further improve Ixian technology.
How does the IXIAN core team look right now?
The team consists of 4 core members. Marko Arh Tadic — Project Lead, Marko Zagar — Software Architect, Cristian Ciorba — Lead Developer and myself.
Keeping the team small was a great way to set the foundations. We managed not to over extend ourselves in the process. We have been working hard to get this project up and running, and we are reaching a point where extra hands are needed.
Are there plans of team expansion & in which part(s) of the team?
Considering the fact that we are self-funded, there are obstacles to employing more people, that is why we are turning to Ixian community instead. We have a small but vibrant community, which helps us a great deal with testing and we hope that this help will soon include other areas where needed. Later on, when conditions are met, we hope to include Ixian’s prominent community members into the Ixian Team.
The areas we hope to expand as soon as possible include development (both blockchain and other development tasks), support and spreading the word about Ixian.
Where is IXIAN based?
Ixian is based in the EU and we are in the process of establishing a legal entity in Estonia.
How does IXIAN relate to local legislation & worldwide regulation?
Regulation and relevant legislation has been at the focus of our long term planning and we have taken a really systematic approach and kept every aspect of the project in full accord with local and worldwide regulations that we know of. Ixian should not constitute as a security under any legislation.
How does IXIAN get income from the project? What are the future plans for income for the project?
To help sustain further development and evolution of the Ixian project, we’ve designed Ixian’s consensus algorithm (Ixiac) to collect 3% of the total transaction fees earned by the signing master nodes and transfer them to the Ixian foundation wallet.
In the future we intend to set up a non-profit Ixian Foundation or even a DAO which will be funded from the Ixian foundation wallet. This foundation or DAO will be tasked with maintaining standards of operation and further developing and promoting Ixian.
How will the man on the street and ordinary shop owners experience/use IXIAN?
Imagine a day in the near future, it’s sunny outside and you are in the business of providing various tech support for people using a specific software. You work remotely and as you are drinking your cup of coffee you are also browsing through your tasks for the day. At noon you have a session with one of your clients, where you will help them set up their system. This client requires remote but real-time tech support, and they will transfer their payment for this service in IxiCash. You connect with your client through the Ixian platform (i.e. with Spixi), you are guiding them and helping with any problems and questions they might have. You successfully help your client and receive the payment in IxiCash in time intervals. Satisfied with your work, you check your wallet balance to see how much IxiCash you’ve earned in the process.
In a different part of the world, someone is about to live stream their extreme stunt, something you are a fan of. That person sets up their channel using a service developed on Ixian and is charging a specific amount of IxiCash for interested viewers. This stream in 4K is enabled by Ixian S2 Network, and every node operator along the line who helps stream this event receives a particular amount of IxiCash in transmission fees. The stunt has just finished, and the person that performed it is happy to hear that a few hundred viewers were witnessing his stunt in real time, netting a nice income in IxiCash.
That person is now preparing for his next stunt, but he needs to buy some additional gear. He finds his favorite online retailer selling the gear he wants. He orders his desired goods and proceeds to pay in IxiCash.
In the meantime, after viewing this stunt, you decide to head out for lunch with your friends. You pick out a restaurant which also accepts cryptocurrency payment through their POS (Point of Sale). You decide to pay for lunch using your IxiCard because unfortunately your smartphone battery is dead. IxiCard is a card like any other credit/debit card that contains your wallet’s keys and is tied directly to your IxiCash address. The funds you intend to transfer using this card will be directly credited to the restaurant’s IxiCash wallet. No middle men and no custodians required. Your IxiCash balance on your personal wallet will be reduced for this exact amount.
So there you have it, every person out there will be able to create and get paid for their own content, the ease of use will enable various subjects to benefit from the technology and take part in the greater Ixian economy. Many will benefit from not being dependant on a custodian of funds, and centralized servers for flow of data, information and value. Developers will be able to leverage Ixian to provide enterprise level solutions and cutting out the middle men, diminishing server and bandwidth costs. No downtime, no privacy issues.
What is the next big thing for IXIAN?
Quite a few big things in the short term. Ixian DLT is about to get a major update in the coming weeks, with many important features to be implemented.
We are also nearing the release of the S2 Streaming Network which will allow for encrypted end-to-end data streaming.
At the same time Spixi, the cross-platform Instant Messenger and Wallet is going to be launched.
After that we will start with listing IxiCash on exchanges.
An SDK is also in the works, along with an entire documentation overhaul. This will help all developers looking to build their next idea on Ixian.
It is a very busy period for us, and we are quite excited about all these developments.
Our further plan includes steady improvements of the DLT software and S2 Streaming network, bringing new features with every small update.
Join our Discord and follow our Twitter account to stay up to date.
Where do you see IXIAN in 5 years?
In 5-year time, we hope that Ixian will have helped countless developers in delivering their decentralized solutions which scale effectively.
From the beginning we wanted to empower the development community and provide a platform on which they can produce awesome decentralized products that require secure streaming and scalability.
So it would be a dream come true to see and experience decentralized gaming networks, streaming platforms and amazing use cases brought forth by the developers.
In the end, a platform is only successful if there is a strong development community leveraging its potential. And we believe that once the developers from around the world get their hands on Ixian, we will start seeing amazing solutions brought to life.
THANKS TO IXIAN FOR TAKING THE TIME TO PARTICIPATE! I, FOR ONE, WILL BE FOLLOWING THIS PROJECT CLOSELY!
MUCH OBLIGED, FLASHY GORDY