x42 Protocol — NOT Just another PoS + MN project

An open, feeless, scalable blockchain protocol that lets indie developers publish their projects and thrive.

Ever since the Bitcoin blockchain came into existence in 2009, numerous other projects based on the idea of decentralization have eventually surfaced, with various implementations of the concept.

The emergence of DApps and smart contracts, which became popular during the Ethereum era, opened the doors to new possibilities and further innovation in the crypto space. Nowadays, it’s becoming increasingly difficult to keep up with all the different innovative crypto projects, be them PoW or PoS, being developed with various goals and philosophies in mind.

Generally, I’m not a big fan of proof-of-stake (PoS) projects (I have my reasons, but that’s a discussion for another day). But there’s one that I’m particularly interested in. It’s the x42 Protocol.

Why x42?

x42 is a proof-of-stake + masternodes-based (MN to launch soon), decentralized cryptocurrency that provides a scalable, on-chain solution for any developer who wants to launch apps and games in general, with a minimal initial investment, zero transaction fees, and near-infinitely scalable side-chains.

The x42 protocol is going to facilitate regular users to launch apps that would usually require big publishers to host them, at a much higher cost; be those decentralized applications (DApps) for your cell phone, PC, Mac or even single-board computers like the Raspberry Pi.

Now, this may all seem pretty common for a crypto project of similar nature, but there are a few striking aspects of the x42 project that caught my attention.

PoS with Max Supply limit

The x42 team decided to implement proof-of-stake for block validation, as it is a greener alternative. PoS-based cryptocurrencies usually have infinite supply to help support long-term staking to keep the network running. However, such practices are usually known to encourage inflation.

x42 is one of the very few, if not the only, PoS-based cryptocurrency that has a limited (42M) maximum supply. This solves the inflation problem, which is good for potential investors.

But how can a feeless blockchain network with a limited max supply be sustainable in the long run?

Feeless, yet Sustainable

As already pointed out, projects that are based on the feeless model usually aren’t sustainable in the long run. What makes x42 unique is that it allows for continuing to incentivize masternode gatekeepers through hosting of DApps and services, even though staking rewards are no longer issued after maximum supply is reached.

The main x42 blockchain will remain feeless, while sustainability is also maintained.

Protocol-based

One of the advantages of a protocol-based project like x42 is that the value of various side chains, impacted due to the demand for running DApps and services on them, will eventually flow into the main chain as well; thus potentially impacting the price of the main x42 coins over the long term.

And once the network becomes stable, mainnet x42 coins are a great candidate for payments in online marketplaces in general, because it’s fast and feeless. A few websites like Spectre Security and MCM Marketplace have already started accepting x42 cryptocurrency. In the future, x42 will also support private transactions.

The Team

Up until now, I’ve been describing a potentially game-changing project idea. But an idea is nothing if the team executing it fails to deliver on its commitments. I have seen some great crypto projects that have failed to thrive just because the team lost its motivation to continue development. This is not the case with x42.

x42 hasn’t been performing particularly well in the exchanges over the last six months or so. But the price of x42 has never deterred the team’s enthusiasm and dedication towards the project.

Gabriel, the CEO, and co-founder of x42 has made it clear that his team is not concerned with the price of the x42 coin. They are upfront and transparent about project developments. The community is active on social media channels, especially on Discord, where anyone can directly connect with Gabriel, Dennis (main dev), Myke and other members to resolve their queries regarding the project.

I am in touch with the team members and have had a lot of interesting discussions with them about the project’s plans, which has further strengthened my confidence in it.

Currently, the team is closely working with independent developers to launch their DApps on x42 masternodes and is actively involved in the fixing of a few bugs that they discovered in the masternodes module during the testing phase.

Rather than sticking to the original timeline and creating a false hype earlier on, the team decided to delay the release of the masternodes feature, so that the developers can fix their code and release a better version of the product later. x42 masternodes will be released soon after the bug fixes have been completed.

A few more interesting tidbits about x42

• The team is studying Atomic Swap, and exploring the possibility of implementing the same in the future.
• As per the plan, the side chains will likely be proof-of-work (PoW) to start with. Support for proof-of-stake side chains will be rolled out later, and when it does, developers would have complete freedom to choose between the two.

As of this writing, x42 is trading on STEX and Graviex. If you are interested to know more about the masternodes collateral, and other features of x42, you can check out the official website or read the whitepaper.

I’ve been staking x42 since for last seven months, and can’t wait to try out the masternodes. Yet, last I checked, the coin’s market cap is just around $700,000, which, in my opinion, is way too low for its potential.

But hey, this is crypto. What the hell do I know? 🤓