Digital Transaction, the company behind the quantum-leap blockchain ParallelChain™, recently announced that its utility token XPLL is open for pre-sales, and will soon be listed on crypto exchanges in 2021. Here’s what you need to know about this very promising crypto project that is poised to take over the blockchain world by storm.
I. Token Philosophy
The XPLL is a purpose-driven tokenisation project that fully utilises Digital Transaction’s competitive advantages that stem from its second-to-none technology and exceptional leadership team.
This project is a golden opportunity for enterprises to exploit the blockchain technology to maximise business potential and competitiveness. The XPLL-based payment method represents enterprises a cost-effective way to make use of ParallelChain™ — an extremely powerful blockchain that adheres to their own business purposes and meet specific needs. On the other hand, the wide usage of XPLL will in turn attach exponential value to the Token itself.
Participation in pre-sales allows a XPLL holder to immediately redeem Tokens in exchange for Digital Transaction’s products and services.
II. Token Metrics
• Token Name: ParallelChain Token (XPLL)
• Token Type: Utility Token (ERC-20)
• Issuing Entity: Digital Transaction Limited
• Trade Currency: Euro, USD (fiat); BTC, ETH, USDT and USDC (cryptocurrency)
• Total Supply: Capped at 1,000,000,000 for the first 3 years following completion of the Private Sale
• Token in Circulation: 400,000,000 (unsold token will be returned to the treasury)
• Token in Treasury: 600,000,000
• Current Issued Price (Private Sale): €0.50 or US$0.60 per token
How to participate in XPLL private sale?
1. Visit the official XPLL webpage on our website: https://www.digital-transaction.com/xpll
2. Click “Get XPLL Early” and fill in your personal information
3. Confirm your registration on your email
4. One of our representatives will get in touch over email and ask for your purchasing amount (min: 1000 in Euro/USD) and currency.
5. Fill out your personal details and sign the electronic SAFT (Simple Agreement for Future Token).
6. Make your payment: bank transfer OR crypto transfer (bank account number and wallet address are written on the SAFT)
III. Wallet
XPLLs can be held in the ParallelWallet, a digital wallet developed by Digital Transaction, as well as any ERC-20 compatible wallet. Similarly, ParallelWallet can also hold other ERC-20 tokens. When the XPLLs are used to pay for Mainchain transactions, they can only be held in wallets compatible with ParallelChain™.
IV. Token Ecosystem
Tokenomics: XPLL’s Proof-of-Immutability (PoIM) algorithm offers node operators a means to verify the immutability of data, without having the actual data be shared. This provides incentives for validators to protect community interests and safeguard the network from malicious users. The reward system ensures network decentralisation as XPLLs are given as compensation to node operators for their efforts in staking, running and validating transactions on the nodes.
Mainchain: The Mainchain, a public layer of the ParallelChain™ network, has been developed to facilitate trade transactions. The Mainchain is a public ledger viewable by the public and used to oversight organisations / auditors. No applications or smart contracts are run on the Mainchain as it only serves to facilitate token trading.
Governance: The XPLL Governing Council (also referred to as the Council) serves to oversee the conduct and decisions that directly concern the XPLLs. Members of the Governing Council are elected by a two-thirds majority community vote and are appointed by Digital Transaction’s Board of Directors. The term of an appointed member is 2 years, membership can be renewed for no more than 3 consecutive terms. At the beginning of the term of office, a Council member will receive a remuneration package of 1,000,000 XPLLs.
The duties of a Governing Council Member consists of, but are not limited to:
• Run an instance of the Auditor Node (highest level of node), whose responsibilities include performing secondary audits on transactions and applying rewards and penalties to node operators.
• Review and cast a Council Vote on major decisions related to the XPLL
IV. XPLL Community
Every XPLL owner is part of the XPLL Community. We recognize the importance of active engagement in fostering a sense of community. The node operation system offer each member an opportunity to make rewarded contributions to the network, as well as a means to participate in the decision-making process.
Token holders who hold a minimum of 100,000 XPLLs are able to stake, run and operate nodes to participate as network maintainers and be rewarded with XPLLs for their help in decentralizing the network. Community members can apply for the following 3 node tiers. Community members can apply for the following 3 node tiers:
Authority Nodes: store the ledger history of the whole network by running a full node of the Mainchain, they are the only nodes with the ability to pack blocks on the Mainchain. There can only be 120 existing Authority Nodes.
Validator Nodes: help keep the Mainchain distributed by querying full nodes for information on a regular basis, and validate transactions that are delegated to them by Authority Nodes. There can only be 600 existing Validator Nodes.
Support Nodes: store the block headers of the Mainchain like Validator Nodes. They represent the full decentralization of the Mainchain as the number of Support Nodes that can exist is unlimited.
V. Token Issuing Entity
Founded in 2018, Digital Transaction Limited is a Hong Kong breakthrough enterprise blockchain technology company. Digital Transaction is the home of ParallelChain™, the fastest, most scalable, most secure and the only GDPR privacy-compliant blockchain available today. With 10 patents pending in the US, China and the EU, as well as an award-winning technical team, strong business execution and deep market insight, Digital Transaction consistently rolls out technical innovation leading the Distributed Ledger Technology movement with unmatched products that unlock enterprises’ digital transformation initiatives.
For more info, on our XPLL webpage, you can download the Lightpaper and/ or request a softcopy of the XPLL Whitepaper. Or you can purchase XPLLs early here before they are listed on exchanges in late 2021.
