Ninjastic
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Board Announcements (Altcoins)
Re: [ANN] XtraBYtes - The Proof of Signature Blockchain Database
by
CCRevolution
on 13/04/2017, 09:49:50 UTC
Quote from: onnz423alt on April 13, 2017, 09:24:22 AM
Quote from: CCRevolution on April 13, 2017, 07:18:01 AM
Quote from: bibit714 on April 13, 2017, 06:03:25 AM

100 XBY transaction fee, that is alot

Yes, this is a new concept for a newly invented algorithm (invented by Barzolom, our programmer and developer). XtraBYtes will not have POW or POS mining for verification's, we will be using Proof of Signature (PoSign) which creates a stable, low maintenance (bandwidth/resources) method of verifying transactions. There are also no new coins being minted or mined and therefore rewards need to be created. Those rewards come from the 100 XBY fee for each transaction and these fees are distributed to the STaTiC Nodes as payment for their contribution to the XtraBYtes network. Those fees of course go back in to circulation when the node owners decide to sell their XBY or use them to pay for the future services.

Thank you for your interest in XtraBYtes!

Have a great day! Smiley

The incoming whitepaper is going to include information about this?
Also nice to see some volume on c-cex too. Only 0.1BTC left on 1 sat.

Hello Onnz! Yes, once he has everything set up and working properly we will be able to complete the white paper.

Volume is definitely nice but the 1 sat will not remain. I am about to create a post regarding XBY pricing and how the STaTiC Nodes are a fantastic investment.

Have a great day!