GenesisX, truly a new beginning for cryptocurrencies!

Everyday, we hear that so and so got hacked. In 2017 alone, there were 1,293 breaches which revealed data from over 174 million records. And that was an increase of 45% from 2016. So we can only image how many institutions will be hacked in 2018! And there is no difference in the cryptocurrency world, they are just as vulnerable as the regular world when it comes to being hacked. The existing arena has to battle on a daily basis to keep users safe. By safeguarding their names, locations, transactions and of course their cryptocurrencies!

GenesisX understands that the way it is now, cannot be the way it will be tomorrow. The system has to change. The system has to become decentralized. And their goal is to support and defend those users. The will be the change!

First, let’s discuss what a masternode is and it’s benefits to the network:

• Record transaction conducted (time, date, and amount)
• Increase privacy
• Increase speed of transactions
• Decentralized budget governance
• Ability to vote on important decisions

Many masternode coins are created based on the fact that they want/supposed to be decentralized. However, that is not always the case. Normally masternode coins split their block rewards between the masternode owners and the miners (POS/POW). It supposed to be fair, and more advantageous for the masternode owner with a higher ratio of the rewards say 80%/20%. Now comes along a large investor (Whale/Shark) and makes one large investment in that masternode coin, by purchasing a large number of masternodes. Doing this, they can undermine the entire coins rewards system, buy earning the majority of the rewards. The issue is that masternodes are a vital to keep the network running properly. They should be rewarded according to their stature in the network-of-things. Because if they truly were based on functions performed they would really receive almost 95% of the the rewards if not 99%! GenesisX, has developed what they call the SeeSaw Reward Balance System to handle the imbalance in the reward arena. This will allow the staking nodes and the masternodes rewards to be adjusted dynamically in terms of blocksize. So, as the masternodes count grows, the masternode reward decreases, and the staking reward increases and vice versa. This will hopefully prevent an over abundance of masternodes in the network, since they won’t be as profitable. However, the masternode owners will still make a bigger profit being owners than if they were to just staking their coins. Each GenesisX POS block reward is shared with about 90% meant for stake mining rewards and masternodes, and the remaining 10% for the platform budget.

To become a GenesisX masternode owner, all you have to do download your specific wallet, and then purchase 5,000 XGX coins. Place them in you local wallet (you maintain control of them at all times), synch to the GenesisX blockchain and you off….

Next, GenesisX wanted to address another problem. Most blockchains are thought to be transparent, the majority of them are not. Do you really know whats going on behind the scene of the coins platform? Or with the team? Do you know what’s “really “ happening? This is one of the biggest reasons that many investors are very hesitant to invest in certain coins or any at all. No one wants to be scammed out of their hard earned money, by trusting what they were told, just to find out it was just a lie. Another important part of the problem, is the lack of governance. Supposedly, as masternode owners and community members, they are to have a say in all the major decisions made by the coins leadership team. That’s what decentralization is based on. GenesisX plans to build a platform with a foundation based on governance. A 100% community based platform, where members can use their local wallet to vote yes or no for important actions taken by the leadership. this is how it should be done…together.

However, that is still not a big of an issue, as is the security of the platform and for its many users. With the sophistication of the computers growing by leaps and bounds so fast, they pose a dark shadow over the blockchain itself. A super smart computer, that can break the “links” in the blockchain with ease, is a giant threat to the entire cryptocurrency space. GenesisX plans on having a payment system that cannot be hacked or traced, by the government or big corporations. Privacy from the top to the bottom, will be incorporated to protect all data on the blockchain, even the send and receive address! GenesisX calls it the Quantum Resistance System. The team plans to use Lamport signatures and other signature strategies that are resistant to attacks from both classic and quantum computers. They will test each part of the platform and all applications on the platform, using their open source community. This will be conducted by pin testers from the community and outside, to test the platform each on their own.

Once again, GenexisX to the rescue! The team behind GenesisX are in the midst of building a platform that will be 100% hack proof from attacks using classical or quantum computers. Unlike companies or coin makers, that claim to keep your personal information safe, the GenesisX platform will do just that. One way is by utilizing the Zerocoin Protocol. This a cryptographic technology that promotes absolute privacy and anonymity when needed. All transactions will be verified by showing that they are members of the community and on the list of valid coins, this is part of zero-knowledge. Through the use of zero-knowledge, there is no need for digital signatures or a centralized locale to prevent any form of double spending. They plan to even have two-factor authentication on the users local wallet for added protection.

As well, the coins leadership team should also be transparent with the details of the money coming in and going out, that is made through the sale of masternodes as well as each single coin. That’s gone by the way side in many cases as well. GenesisX will change all of this by ensuring that the entire community knows exactly what is going on, on the platform and off. Members will be able to see the budget at their choosing, to see where the money is being spent.

Next, the GenesisX team plans to introduce a online storage solution/platform. Here, the users will be able to store, upload, download and transfer files securely and anonymously. The main advantage is the fact that the user will have total anonymity when using or accessing the platform. There will be 100 masternode holders that will have the opportunity to receive a free account with access to 1GB of storage allocation, and this will will be a lifetime benefit. Non masternode owners will be able to sign up for an account and pay fees using GenesisX coins (XGS) or fiat currency. The price will range from $20.00 for 500MB to $200.00 per month for 1TB. But, that's not all of it. The second part of the storage platform is the ability to send files while sending a transaction. The file will be connected to the block and the TX hash in which it was sent. There will be an online system, that will enable the user to enter the hash or block, and then enter the password to gain access to the file. However, there is a time limit to do so, after which the file will be removed from the GenesisX storage server.

The GenesisX Team consists of 11 members:

• 2 Project Managers
• 3 Developers
• 2 Marketing Managers
• 1 Graphic designer
• 3 Tech support

All team members have experience in cryptocurrencies and have built a reputation by contributing to different projects. All this knowledge led to the creation of GenesisX.

The GenesisX Team members are serious in what they are doing, the future of the company and the contributions to the cryptocurrency space. And to show just how committed they are, they plan to build an office in the United Kingdom(UK) and will be under the legal name of GenesisX Ltd.

The GenesisX Roadmap:

Finally! If you’re truly ready to invest in GenesisX, the time is NOW! The opportunity to get in on the ground floor is here. They longer you wait the more it will cost to get in. This sounds very interesting, I may have to get myself a masternode.

To get started as a GenesisX Masternode owner or just for more information click below:

Website: https://genesisx.net/

Whitepaper: https://genesisx.net/whitepaper.pdf

Telegram: https://t.me/Genesisx_community

Discord: https://discordapp.com/invite/qRVW77a

Twitter: https://twitter.com/genesisx_xgs

Bitcoin Talk: https://bitcointalk.org/index.php?topic=4408230.0

• Exchange to purchase GenesisX (XGS) coins: https://wallet.crypto-bridge.org/market/BRIDGE.XGS_BRIDGE.BTC