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XeniosCoin (XNC) is a digital currency and a blockchain protocol based on PoS mechanisms to improve the speed and security of transactions.
XeniosCoin, abbreviated as XNC, is a POW/POS based digital currency and a blockchain protocol. It is described as a business and asset management-oriented cryptocurrency. It is dedicated to enabling anonymous, secure and speedy transactions.
It is specially designed to be a digital currency with real use. It has started with the support of the Hellenic Blockchain Association; it is supposed to be used as the official currency for yearly member subscriptions to the association.
It was launched in October 2019 and designed to address the challenges that cryptocurrency traders and developers faced. This blog post discusses the ecosystem of XeniosCoin, its features, innovative solutions and the history surrounding its development.
History And Development Of XeniosCoin
Emmanouil Kafouros and Anastasis Oureilidis are the founders of XeniosCoin. It has a total supply of 110,000,000 XNC tokens. The company published and released its first green paper in March 2021.
Xenios Zeus is the inspiration behind the name and development of XeniosCoin. Xenios Zeus is the hospitable father of the Greek pantheon. The platform aims to build an easy and welcoming culture and environment for crypto holders. It achieves this objective of creating a welcoming environment through a unique incentive scheme and innovative reward structure.
The driving factor in the success of XeniosCoin is the Xenios blockchain, as it utilizes an X11-based algorithm and a unique software proof-of-stake (sPoS) consensus. It provides a scalable payment solution. It has a dual master node scheme, which ensures near-instant block verification. It allows for nearly zero fees transactions.
Working Of Xenios (XNC)
The Xenios consensus is achieved through a hybrid protocol called the X11 hybrid consensus algorithms. It functions through dual nodes, namely masternodes and software masternodes.
Both of these are involved in transaction verification, which verifies thousands of transactions in a couple of minutes. Its ecosystem is capable of handling millions of transactions with increased speed and low fees.
Anyone who wants to own a soft masternode needs to have about 30,000 XNC tokens in their existing crypto wallet and it should produce an average of 25 XNC tokens per day for an estimated period of at least 200 years. Additionally, it should experience halving at every 200,000 blocks, with an availability of only 30 masternodes.
In contrast, Masternodes cost 1,000,000 XNC tokens, and only three will be available for acquisition. On average, they produce 550-750 tokens lasting for 200 years with a block halving happening every 4,000,000 blocks.
Characteristics Of Xenios Coin
Semi-stablecoin with Unlimited Liquidity
The approach of XeniosCoin is different from that of other volatile digital currencies. It represents itself as a semi-stable coin and ensures a stable minimum price. This price stability provides unlimited liquidity to its fundraisers, and turned into an attractive option for those looking for reliability in the world of cryptocurrencies.
Frictionless Transactions
One of the most significant features of XeniosCoin that differentiates it from others is its frictionless transaction system. It provides nearly fee-less transactions or very minimal fees, regardless of the number of blocks involved in a single transfer. The cost-efficiency character of the platform attracts both users and traders.
Efficient XNC Blockchain
As it was also stated previously, the driver of the success of XeniosCoin is its in-house blockchain network. It is an efficient blockchain that can verify approximately twenty thousand micro-transactions in a couple of minutes. It helps XeniosCoin increase scalability and position itself as a robust payment solution in the crypto landscape.
Factors Affecting Prices of Xenios
It has semi-stable nature, like all other volatile assets. It reacts to the change in some factors that can positively or negatively impact the prices. The following paragraphs will discuss some of the essential factors that significantly influence the price of cryptocurrencies, including semi-stable coins like XNC.
Demand
It is an external factor that can significantly impact the prices of cryptocurrencies, including XeniosCoin. XNC marked its first all-time low in March 2021, around the same time when the platform released its green paper. With the release of green paper, demand increased sharply, pushing it to its all-time high in just five months, in August 2021.
However, XNC was not able to keep up the demand and the buying momentum as the sellers outpaced buyers, which led to a significant decrease in prices.
Supply
To maintain its price and not lose its value, a cryptocurrency needs to have a cap on its supply. The infinite supply can result in a loss in value because an increase in availability reduces demand forces and leads to excessive leftovers with no buyers left.
Although this is not the case with XNC, the developers have created scarcity by minting only 110,000,000 tokens. It gives them an upper hand over the currencies with unlimited supply.
Crypto Exchanges
When a new crypto is minted, multiple crypto exchanges analyze the currency and its movement, observing its movement and capabilities to reach highs in the first few months.
Once they see a value and growth proposition in the token and if it is gaining investors’ attention in the cryptocurrency space. They step in to add crypto to their platform to allow trade and purchase.
After getting listed on more and more crypto exchanges, the cryptocurrency gains publicity, leading to an increase in price. Once a renowned crypto exchange lists a currency, it increases its activity and purchases.
Conclusion
The main objective of the platform is to provide a blockchain that will resolve the everyday problems of blockchain in the crypto world and offer an eco-friendly environment in line with its fundamental principles of hospitality and generosity towards guests and strangers.
It is one of its kind in providing fintech solutions in the industry. The dual nature of XNC coins makes them unique, a means of exchange and a digital asset.
FAQs
What is the circulating supply of XNC coin?
The circulating supply is currently 76,274,958 XNCs.
What is the total supply in the ecosystem as of now?
The total supply is 100,413,374 XNC.
Which are the exchanges that support trading in XNC?
Some of the exchanges include Coinsbit and Finexbox.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
