May & June 2019 Project Update
Dear X-Network Community,
As we have done in May, we would like to take the time today to go back through the main progress and milestones we have hit during the last two months. Please bear with us on this long journey!
Products & Technology
X-Bank
The X-Bank has been one of the key development of the first two semesters of this year. The goal was to offer an easy place for users to store their cryptocurrency while having the highest level of security. During the last two months, we have performed several releases:
- Optimised payments and account balances synchronisation;
- New airdrop staking process;
- Improved email verification process (new IP checkup on login), new 2FA reset features, new IP verification on login.
Thanks to this progress, the X-Bank overall stability and user experience have greatly increased and we are receiving very positive feedbacks. We are now working on the next features which will include KYC support for higher limits and preparation of future development, and integration of X-Payment.
X-Payment
During the last two months, we have also released the first version of X-Payment which has received a great interest in our community. People are starting to use it and we have received many positive feedbacks. We are now preparing the next version, which will include unique new features for users.
We are also working heavily on the features to onboard additional communities. To that extent, we have already started cooperation with 2 communities which integrated the current version. Thanks to their help, we will iterate and create the features that perfectly match their needs. Our goal is to release the public version for all communities following these feedbacks and improvements.
X-Blockchain
X-Blockchain has taken a significant part of our energy in the last two months. We have exchanged with many players industry to create and design the perfect solution. Today we are happy to announce that we have identified the use case where our technology can be leveraged the most and where there is also the biggest need gap. This use case, which we are also adapting to our community to manage X-Cash governance, will find many applications and we are already excited about the added value it can bring to the world.
Currently, we are in the process of filling a patent for this technology and once the process has been kicked off we will be ready to share more details.
delegated Proof-of-stake
The last two months were very intensive in terms of development of the new consensus protocol. Today, the development phase is finished and the code is made available publicly on GitHub. We are going to start an internal testing phase which will lead us to the beta testing with the whole community. Every user will be able to contribute to this phase and identify the potential bugs in the code. This phase will also be an opportunity to kick off the wide contributor and bounty program which we will progressively translate to.
Finance & Markets
Along with bitcoin price increase, the market's performance of X-Cash has been quite disappointing for many users and investors.
Although we understand some of the concerns that may arise, X-Cash remains on a 300% increase since the beginning of the year, largely overperforming most of the other crypto-assets. We can also mention that this has happened despite a significant dilution caused by the mining process. Overall, the market cap remains in a bullish momentum and we firmly believe the price of X-Cash will keep on increasing by building a viable ecosystem which has always been our primary focus.
Events & Community
May and June were quite intense from a community perspective. We want to accelerate and improve our communication and you probably have noticed more frequents updates on our channels and particularly Twitter. We also had the opportunity to organize an event where we gathered our community to talk about the state of the project.
We also went to Malta for the AI & Blockchain Summit and met many of our peers. These exchanges with investors, developers and other professionals were very fruitful and raise the scope of further cooperation.
Finally, we have carried our first voice chat AMA with the English Community. We will keep on carrying these initiatives every two months as sharing more information while gathering feedbacks is extremely valuable for us.
Business & Growth
The team continues to expand with new forces joining us in the marketing and communication team. As our needs keep increasing, we have started to work on our contributor program which will allow anyone in the community to work on the project.
Since June, we have integrated Pépiniere27, a startup incubator located in the heart of Paris. We are extremely excited and thankful for this opportunity which has already proven to benefit us by accelerating our growth and vision, notably through the many discussions we have had with the other teams.
Six months after the creation of the company, we are in the best momentum to keep growing while creating the best products for our community and end-users.
Conclusion
During the last two months, we have added new blocks to our ecosystem, notably by improving significantly the features and reliability of the X-Bank. Thanks to X-Payment, we have a first working use case of how our technology can simplify and improve the everyday life of our community by allowing frictionless payments through the growing media Discord.
The major part of the dPoS development has been executed and we are now entering the test phase which will be very beneficial both from a code debugging perspective as well as community involvement.
We are more than ever committed to building great things with our technology and we would like to particularly thank you for the continuous support we are receiving. These words and time spent helping are giving us an incredible amount of energy to make this project successful.
The information provided on this article does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the article’s content as such. Nothing on this article should be taken as an offer to buy, sell or hold a cryptocurrency. Do conduct your own due diligence and consult your financial advisory before making any investment decision. X-Network will not be held responsible for the investment decisions you make based on the information provided on the article.
