- 1 Xenon Coin Network (XNN)
Xenon Coin Network (XNN)
At the beginning of the large-scale Xenon Coin blockchain project in early November, distribution of the Xenon token (XNN) began with a mass token campaign. Xenon Network plans to complete development in early October 2018. Corresponding messages were received from over 400 thousand users. A similar public distribution took place in November and will continue until June 2018.
A Crypto Alternative that Avoids Restrictions
According to co-founder of Xenon Coin Network, Andrew Kong, the implementation of the EOS project is being carried out by a professional team that has developed one of the world’s most innovative and powerful enterprise blockchain projects.
However, recent negativity regarding the proliferation of cryptocurrencies in China and the United States, as well as restrictions on the public distribution of tokens, may pose a potential obstacle to the acceptance of the project.
“We will present a comprehensive alternative to implementing the EOS project that avoids these limitations”, stated Andrew Kong.
The keys to success are to have as many owners as possible. The distribution of XNN tokens is as follows:
- 30% of the tokens were distributed in early October 2017 between holders of 0.1 Ethers or above.
- 20% of the tokens were distributed among confirmed Bitcoin owners in November.
- A further 20% of the tokens were distributed using identity verification mechanisms to promote the widespread distribution of tokens.
In July 2018, these XNN tokens can be exchanged for tokens on the blockchain.
The Meaning of the Airdrop
In the distribution and acceptance of addressees, the management of Xenon Network provides a guarantee for the success of this project: “We are determined to distribute this token between as many people as possible until the launch of the blockchain in 2018.” To date, XNN tokens have been traded on the MercatoxCom and EtherDelta platforms.
Xenon Coin Network: An Alternative Blockchain
The idea of creating an efficient business blockchain that has specific corporate solutions, such as identity verification, is already a reality today thanks to projects like EOS and Xenon Coin. We will focus on the last one here.
Xenon coin is the token of an alternative, two-pronged blockchain of the EOS project. It avoids some of the regulatory challenges faced by publicly offered tokens while having a wider distribution than the EOS token with its ICO crowdfunding.
The EOS Fork
Since Xenon coin is a fork of EOS, in order to understand the token a bit better, we should first explain what the EOS project is about. The EOS project initially promises an innovative high-performance blockchain capable of hosting enterprise-grade applications at low transaction rates.
It is being developed by block.one; a company with a proven development team that has already realized ambitious projects in this area. The Xenon project includes the creation of 1,000,000,000 XNN tokens, which are ERC20 compatible. 70% will be distributed in an Airdrop campaign.
Nevertheless, it should be remembered that while the EOS project itself is still in the making, many of its advantages over existing blockchains remain purely theoretical.
Although the EOS software is being developed as an open-source project under the MIT licence, developers, the block.one company or EOS token owners can take action to prevent counterfeit chains from becoming viable.
The Xenon blockchain is expected to hit the market in July/August 2018. For more information, refer to the white paper.
How Does Xenon Network Work?
The Xenon Coin Network aims to improve the shortcomings of the EOS project. The team behind the Xenon Network believes that the EOS project has the right goals in mind, but some features are missing. The Xenon Network is, therefore, designed as an EOS Altchain.
EOS promises an innovative blockchain with high throughput and enterprise quality. It has a well-funded development team with a proven track record.
However, the Xenon Network team believes that the EOS project has two major flaws, including the ICO-derived introduction of the token (which excludes EOS from many major exchanges) and limited token diffusion (the distribution is limited to the small number of people who buy during the ICO).
Difference from EOS
The solution of Xenon Coin Network is to distribute the tokens for an EOS Altchain in an Airdrop campaign. The tokens are issued to crypto operators and the holders of Ethereum and Bitcoin tokens, among others. 70% of the total offer of 1 billion tokens are thus sold. As soon as the Xenon Network platform is launched in July 2018, all tokens will be distributed to the EOS legacy chain.
The ultimate goal of Xenon Network is to be the primary, dominant EOS chain at launch time. This is to be achieved partly by the wider distribution, stronger community, better engagement of developers and lower regulatory risk. Xenon Network has a lower regulatory risk because it does not issue tokens through an ICO.
What is the Purpose of Xenon Coin Network?
The creators of Xenon Coin Network have some issues with the original EOS project and how it works. They see potential regulatory headaches, for example, in the EOS ICO.
Xenon Coin Network: The Verdict
Xenon Coin Network is an EOS legacy chain that launches its native XNN tokens through a dropout campaign. This aerial campaign distributed XNN tokens to Bitcoin and Ethereum addresses in October and November 2017, and then to more cryptocurrency users in December 2017 (through a “proof-of-individuality” system).
When Xenon Network starts in July 2018, the tokens will be interchangeable for network use.
Coin-Report.net was founded by Thomas Mücke.
With the help of Coin-Report.net magazine, he tries to bring light to the field of crypto-currency.