The initial Xx coin public sale started on 23 January, and will close when the target cap of $15 million is reached or on 19 February, 2020. This digital token is designed to support and incentivize the Xx network, the privacy-protecting blockchain led by Dr. David Chaum, founder of the Elixxir and Praxxis projects which underpin the decentralized ecosystem.
The platform will support decentralized messaging, payments, and apps, and was designed in response to growing public concern for user privacy and online security.
The Xx network is designed to allow people to communicate and exchange value without revealing any information to intrusive government agencies or companies that collect and sell personal data.
It was created by Dr. David Chaum, a world-renowned cryptographer and privacy advocate. The public sale of the Xx coin that powers the network is now live.
Xx Public Sale Is Now Live
The full details of the Xx network public sale can be found through the xx-coin.io website. Americans please take note that due to regulatory concerns U.S. persons are excluded from this initial public sale. The team and company (xx network SEZC) are based and headquartered in Grand Cayman.
The Xx network integrates technology from two projects and teams: Elixxir and Praxxis, both led by Dr. Chaum. Elixxir technology protects privacy by combining end-to-end encryption with a metadata shredding mix network which obscures metadata for messaging and payments. With Elixxir, both messages and payments are mixed together, shredding all metadata and preventing third parties from seeing that a message or payment was ever sent. Praxxis has developed what is a next-generation, quantum secure blockchain which uses a unique consensus mechanism. After transactions are mixed through Elixxir, payments are passed to the independently owned nodes running the Xx consensus protocol to be confirmed and added to the blockchain.
Explaining the difference from other privacy focused solutions, the Xx developers note that while many of today’s communications platforms are encrypted, they don’t protect metadata. Metadata is data about data, such as who sent a message, who received it, where it was sent from, and what time it was sent.
“Email, social media, and mobile applications have transformed the way we communicate and exchange value”, the team stated. “However, mainstream technology companies have proven unwilling or unable to protect user privacy, opting for profits based on advertising instead. Even with encrypted messaging applications, metadata is collected to track consumer behavior including the sender, recipient, and time stamp. Governments and organizations can use this data to manipulate users and ultimately threaten our freedom.”
When metadata is collected and analyzed, it can reveal a lot about an individual. The Xx network is meant to change this by offering secure, encrypted communications and payments that fully obscure metadata and allowing you to transact without the fear of being spied on. Former National Security Agency (NSA) and Central Intelligence Agency (CIA) Director, Michael Hayden, famously said in 2014 that “We kill people based on metadata.” He explained that “metadata alone can provide an extremely detailed picture of a person’s most intimate associations and interests, and it’s actually much easier as a technological matter to search huge amounts of metadata than to listen to millions of phone calls.”
Developed by Cypherpunk Pioneer David Chaum
Dr. David Lee Chaum is a pioneer in cryptography and privacy-preserving technologies, and widely recognized as the inventor of digital cash. Known as “The Godfather of Privacy”, Dr. Chaum first proposed a solution for protecting metadata with mix-cascade networks in 1979. In 1982, his dissertation at the University of California, Berkeley became the first known proposal of a blockchain protocol.
In 1995 Chaum’s company Digicash, an electronic money corporation, created the first digital currency with ecash. The renowned cypherpunk once lamented that internet technologies would create a dossier society where government would catalog information on each individual and track every person and keep tabs on their comings and goings.
Today, Dr. Chaum is the founder of Elixxir, Praxxis, and the Xx network. Chris Larsen, a serial entrepreneur and co-founder of the Ripple Network, commented about the Xx early private sale, “David Chaum has been a defender of privacy in the digital world for almost forty years. I am proud to be an early backer and look forward to seeing this consumer-facing blockchain open the door to secure use by millions of individuals in their daily lives.”
The Xx coin is used to incentivize governance that enforces transparent operation of the network and empowers users to participate in the ecosystem. The Xx coin is also used to pay for high volume messaging, effect payments and in decentralized apps.
In September 2019 Elixxir announced the launch of the Xx network public alpha and invited smartphone users to test the network’s private messaging capabilities. Maintained by a team of nodes run by independent operators, the Xx network alpha represents the first public demonstration of Cmix, the transaction network that shreds metadata and provides unprecedented consumer privacy and security. The Xx messenger ensures users’ messages are not only end-to-end encrypted but also are stripped of all metadata, protecting all private user information.