XTRABYTES (Proof of Signature) Revolution

What is XBY?

XBY is a storage platform that aims to integrate modular applications via the Proof-of-Signature (PoSign) consensus algorithm.

What makes XBY such a good investment?

No ICO + 0% Pre-Mine:

There was no ICO or pre-mine. Subsequently, this has resulted in a very fair distribution of coins, with the biggest holder currently holding just over 4% of the total supply. This makes XBY less liable to control by market makers such as whale investors looking to accumulate. In addition to this, it will also prevent some of the negative effects associated with whale manipulation like high levels of price volatility. A third benefit of having no ICO is that devs have more incentives to work hard and deliver a finished product that will drive the price up. This contrasts greatly with ICOs like EOS, which has already raised exorbitant amounts of money before their platform is even ready!

0% Inflation:

XBY has a fixed supply of 650 million. This means inflation is 0, thus you will not have to worry about your investment becoming diluted over time. The supply in circulation is also much lower when one accounts for money locked in nodes. There are currently 465 static nodes, all of which are holding at least 500,000 XBY, reducing total supply by over 230,000,000. This figure increases drastically when adding Level 2 nodes, which are estimated to lock up at least 250k XBY per static.

Not Mainstream:

Currently, XBY is only listed on obscure exchanges: C-CEX, Yo.bit, and Cryptopia with a market cap just over $11 million. All three of these exchanges are synonymous with pump & dump scam coins and have a fraction of the volume being traded when compared to the biggest exchanges. Most investors are not willing to trade on these high-risk exchanges, therefore XBY has a massively untapped market that can be accessed by applying for bigger exchanges. The plan is to get listed on Bittrex once statics are finished. This will undoubtedly result in a huge appreciation in value.

Community Coin:

It’s a community coin. In practice, this means holders will have greater control over the direction of the coin as well as improved transparency with developers. With many coins, you find that devs neglect the demands of prominent investors, and in some cases go months without responding to forums such as BCT. This contrasts with XBY which actively deploys mods to answer peoples queries alongside the founder.

Node returns:

The returns of the static nodes are currently undetermined, but one can assume the annual ROI easily compete with the likes of DASH and DYN. Unlike normal nodes, XBY static holders will not just gain from transaction fees, but also service and maintenance fees.

Future Scalability:

The ultimate goal for XBY is to become the supporting infrastructure for other modular applications. This will create a complex ecosystem where other developers can plug, and build their applications utilizing the XtraBytes platform. The superiority of the XtraBytes network from better security, efficiency, and flexibility is what will drive developers to use the platform. Once it starts increasing in popularity, a network effect will be created, resulting in the proliferation of more devs using the XBY platform.

Why XBY is a high-risk investment:

Lack of funds

Being a community coin also has its downsides. Firstly, it means that devs have severe budget constraints in comparison to ICOs raising $100’s of millions. As a result, development progress will be slower because most people have to work 9/5’s alongside XBY. Subsequently, this may also lead to organizational issues as people attempt to juggle crypto with their livelihoods, therefore completion dates are often delayed.

Experimental Project:

It is regarded as an experimental project. XBY is the first cryptocurrency to be backed by a proof of signature blockchain, so it can be considered a trip into the unknown. Despite the amazing risk-reward ratio that comes with this asset, the tech is still in its infancy so you should never invest more than you’re willing to lose.

Conclusion:

The tech takes precedence over any kind of marketing, and with the testnet now in the alpha stage, we can reasonably assume that nodes will be ready in a matter of months. My advice would be to invest before the tech goes live because the price will rise substantially once Statics are ready.Also, if you get in early this will give you the opportunity to buy a L2 node (250k XBY), and potentially even the chance to purchase a broken L1 node (500k XBY) in the near future. If XBY lives up to its potential, the returns will be ridiculous. My prediction is that XBY could 20–50x fold in market cap, and bare in mind that I have not accounted for the growth crypto may receive leading up to this period.

Why do I have such high hopes for this project? Well, mainly because XBY is a protocol that will allow for infinite scalability with other modular applications. Combine this with the backing of an ultra secure network, and you have a sleeping giant that many crypto investors dream of investing in. The current market cap is tiny when you consider the strong fundamentals and lack of marketing in this project. Considering all of the above, a 50x fold increase really doesn’t seem that unrealistic.

Important Links

Official website:

https://xtrabytes.global

Bitcointalk Announcement Thread:

https://bitcointalk.org/index.php?topic=1864397.0

Short Q&A with lead developer Borzalom:

https://bitcointalk.org/index.php?topic=1864397.1800

Socials:

https://twitter.com/xtrabytes

https://www.instagram.com/xtrabytes

https://www.facebook.com/XtraBYtesofficial

https://vimeo.com/xtrabytes

https://www.youtube.com/channel/UC_9hk28Wk5h7r0KhD9Va3Zg/videos

Slack invite link:

https://goo.gl/IUbyFR