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How X-Cash Is Developing Both Privacy and Transparency for Web 3.0



The X-Cash protocol appears well-positioned to continue developing the decentralized Web 3.0 while promoting both privacy and transparency.

Every day, users of the internet lose more and more of their privacy as large technology companies encroach further and further on users’ right to freedom. However, blockchain technology and the development of Web 3.0 will likely change this, forever.

The X-Cash protocol is a privacy-centric and open-source technology that aims to power the next stage of Web 3.0 – also known as the decentralized Web. Built using privacy-focused blockchain technology from Monero, the protocol acts as a bridge between users looking to interact with Web 3.0 in a private fashion, while still also providing the option for transparency.

Technology to Power Web 3.0 Privacy

X-Cash was created in 2018. However, unlike many of its peers from the same time period, it did not undergo an initial coin offering, or ICO, to raise funds. Instead, it has been independently developed by a growing community of contributors over the past three years.

The protocol’s foremost mission is to build a technological framework for privacy when interacting with Web 3.0, while still allowing users to take advantage of the transparency that distributed public ledgers offer. As such, X-Cash offers hybrid transactions that allow for the same transactional transparency as Bitcoin but with the obfuscation capabilities of Monero, a leading privacy coin. This technology offers a privacy-switch of sorts for use when staking XCASH with a delegate, a Byzantine Fault Tolerant algorithm, and verifiable random functions when selecting a block producer.

The X-Cash protocol will also support development on the second layer, which will support greater scalability and increase the number of use cases while staying up-to-date with the world of non-fungible tokens (NFTs) and decentralized finance (DeFi).

Reinventing Delegated Proof of Stake for Privacy

X-Cash is, like many blockchain-based networks, public – meaning anyone may access it and see the distributed public ledger. However, users have the option to obfuscate their transaction data in order to remain private.

The network reaches consensus through a delegated proof of stake model, often referred to as DPoS. However, unlike other DPoS blockchains, X-Cash’s unique consensus model was designed on top of the famous privacy coin Monero’s technology – creating a novel type of DPoS called delegated proof of private stake, or DPoPS.

Being a form of delegated proof-of-stake, X-Cash’s network is secured by a selection of democratically elected delegates – 50, to be exact. Anyone may operate a node and attempt to garner enough votes to become a delegator, and any existing delegator may be removed from the top 50 at any time. Because delegators receive block rewards, they are incentivized to act honestly and in the best interest of the network. Delegates will also have the ability to host sidechains and execute smart-contracts – potentially increasing their profitability while securing the X-Cash protocol.

Despite being run by 50 delegates, anyone may stake their XCASH to a delegate, thereby endorsing said delegate. The minimum stake is two million XCASH – worth approximately $500, as of the time of this writing – and stakeholders receive a fraction of the block reward from the delegate they are staking with.

At the same time, where a user decides to stake their XCASH may remain entirely private. Also, staking one’s XCASH with a delegate does not give said delegate control over the user’s XCASH. Rather, users remain in control of their XCASH at all times, and the coins never leave the user’s wallet.

Though some delegated proof of stake networks have been accused of collusion in the past, the X-Cash network uses a DBFT communication system that guarantees a 67% consensus alongside a verifiable and randomized selection of block producers. This eliminates targeted attacks from or on delegates, and keeps the network highly secure.

Fair and Transparent Distribution

A project is nothing without a transparent allocation of its coins or tokens. Because the X-Cash protocol is focused on both privacy and transparency, the entire XCASH allocation may be verified at any time using reserve proofs – meaning that private transactions do not prevent the ability to track the project’s public spending.

The XCASH breakdown is as follows:

  • 60% of the total supply is allocated to minting for block rewards.
  • 14.2% was already distributed through a two-year-long airdrop program that started in 2018.
  • 10% of the total supply is locked by the company and may only be used for X-Cash development.
  • 5% of the total supply was allocated to private investors.
  • 5% of the total supply is locked away as rewards for the development team, and has yet to be unlocked due to the project not yet reaching its market-capitalization goals.
  • The final 5.8% of the total supply is used to fund contributions to the project and is managed by the X-Cash Foundation.

This clear and transparent allocation means that there is no change of getting “rug pulled,” as is the case with so many projects today.

Developing for the Future

Despite being developed without ICO funding since 2018, the X-Cash protocol has many exciting developments in the pipeline.

In the immediate future, the X-Cash protocol plans to offer sidechain payments not dissimilar to Bitcoin’s Lightning Network. These sidechain payments will enable near-instant payment processing, while other sidechains are being developed that will serve a dynamic variety of users’ needs. Complete programs that run entirely on the decentralized web will soon also be able to run smart contracts on the X-Cash blockchain. Additionally, non-fungible tokens, or NFTs, will be hosted on unique sidechains on the X-Cash network – enabling the creation of digital collections powered by X-Cash.

Meanwhile, wrapped XCASH – an Ethereum bridge for X-Cash – is already being developed, and will enable the integration of X-Cash into the vast and incredibly successful Ethereum ecosystem. The platform will be highly secured within the X-Bank (a secured XCASH online custody solution developed by the X-Cash Foundation) and support swaps between XCASH and wXCASH on the Ethereum blockchain. This will replicate mainnet staking components and incentivize liquidity.

These in-the-works developments follow the completion of Flexprivacy – the aforementioned ability to enable both public and private transactions on the same network, and on a per-transaction basis. Only public transactions are viewable on the X-Cash block explorer, and appear similar to how Bitcoin transactions appear on a Bitcoin block explorer.

As it stands, the X-Cash protocol appears well-positioned to continue developing the decentralized Web 3.0, while promoting both privacy and transparency.

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Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

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Bitcoin Mining Stocks Jump 49% in Less Than One Month after Poor Figures Recorded in May




Bitcoin mining stocks have performed much better than Bitcoin has in the last one year. These stocks are rising despite China’s crackdown.

The three largest Bitcoin mining stocks are rising, following crashes seen across these companies’ valuations last month. These stocks have pulled in considerable weight over the last month, regardless of souring Bitcoin mining sentiments palpable across different geographic regions.

According to a recent report, the three companies include Riot Blockchain Inc (NASDAQ: RIOT), Canaan Inc (NASDAQ: CAN), and Marathon Patent Group (NASDAQ: MARA). Since May 21, Riot Blockchain has jumped 63% from $2.08 billion to $3.4 billion. Marathon also increased by 55% to its current $2.98 billion valuation. All three companies have increased an average of 49% in less than a month.

While these increases may spell progress for the crypto sector, extreme volatility may also be a concern. Between February and April, bitcoin mining firms maintained significant market caps after rising considerably. However, the month of April and early May saw some reversal. Again, by the end of May, their stocks began to rise. The instability is also more seen with a company like Riot Blockchain. Last year, RIOT had a valuation of less than $200 million. By February this year, the company’s market cap had hit $6.12 billion.

Bitcoin Mining Stocks and BTC

At the moment, Bitcoin mining stocks are considerably more promising than the asset itself. Over the past 12 months, stock prices for Riot Blockchain, Hive, Marathon, and Canaan have brought mouth-watering returns to holders. Marathon, which has spiked the highest, comes at 3,119%. In the same timeframe, Bitcoin has increased by an impressive but still much lower 334%.

Recently, China renewed its fight against Bitcoin mining and has come down heavy on operators. Last week, China’s Xinjiang province ordered all Bitcoin miners to immediately suspend operations. The Changji Prefecture Government in the province also sent a circular to subordinate government arms in the Zhundong Economic Technological development park. Specifically, the circular required the park to completely discontinue all mining and other undertakings related to crypto. This is considered a big blow on the country’s crypto clime as the park is considered a major hub.

Back in March, the Inner Mongolia region of Northern China also made a similar move. Its decision was said to be an effort to reduce energy consumption. Basically, Inner Mongolia was supporting energy efficiency demands set by Beijing. Regardless, many crypto community members suggest that the energy efficiency reasons are a ruse to hamper Bitcoin’s growth in the country.

The general effect of the mining ban is significant. Since the ban, large mining pools with Chinese clients have lost a significant chunk of their hash rates. According to data, mining pools such as AntPool,, Poolin, and F2Pool lost between 11% and 30% of their hash rates within 24 hours of the announcement. Binance and Huobi pools also lost 10% in the same time frame. However, pools outside China, including Foundry USA and Slushpool saw little to no changes.

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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.

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US Lawmakers Introduce Bipartisan Antitrust Bills That May Reform Top Tech Giants




Apart from the two bills focused on Amazon and Apple, the other three include the Platform Competition and Opportunity Act, Augmenting Compatibility and Competition by Enabling Service Switching (ACCESS) Act and Merger Filing Fee Modernization Act. 

House lawmakers have released bipartisan antitrust that may affect tech giants like Inc (NASDAQ: AMZN), Apple Inc (NASDAQ: AAPL), Facebook Inc (NASDAQ: FB), and Google LLC(NASDAQ: GOOGL). The bills came after the four tech companies were investigated over antitrust issues. At the time, the result of the investigation revealed that the tech companies hold monopoly power. In conclusion, the panel said antitrust laws needs review to address competition challenges in the digital space. 

New Bills May Affect Dominant Tech Companies

Now, these bills, which consist of five packages, are to challenge dominant platforms over mergers. Also, the five package bills will prohibit the companies from owning businesses that show obvious conflicts of interest. 

Two of the bills focus on Amazon and Apple. These tech firms own marketplaces that include their personal products and apps, which compete with other merchants or developers that utilize and rely on their marketplaces to offer services to consumers. These tech companies create platforms for other businesses and then compete with the same businesses that they provide marketplace services to. The two bills are the Platform Anti-Monopoly Act, which has been renamed the American Choice and Innovation Online Act, and the Ending Platform Monopolies Act. The former was sponsored by the House Judiciary subcommittee on antitrust Chairman Rep. David Cicilline, D-R.I. Vice-Chair Pramilia Jayapal sponsored the latter. 

Earlier this week, the CEO of the Chamber of Progress, Adam Kovacevich, commented on these two bills. Kovacevich said that the approval of the bills would result in consumers losing out on over a dozen popular features. The CEO noted that rules against discrimination would disallow Google from providing results on the most popular results for businesses in users’ locations. Also, Amazon will no longer offer Prime free shipping. At the same time, the conflict of interest and non-discrimination provisions will stop Facebook users from easily cross-posting to Instagram. In addition, Apple will not continue its Find My apps pre-install that helps users locate lost items conveniently.

Before the signing of these bills into law by the president, the Senate must first approve it. Before then, the bills will need to gain support from the Judiciary Committee. 

Antitrust Bills

Apart from the two bills focused on Amazon and Apple, the other three include the Platform Competition and Opportunity Act, Augmenting Compatibility and Competition by Enabling Service Switching (ACCESS) Act and Merger Filing Fee Modernization Act. 

The Platform Competition and Opportunity Act will make dominant platforms involved in mergers prove that their actions comply with the law. Eventually, dominant tech companies will reduce their acquisitions. As for the proposed ACCESS bill, these tech firms would order dominant platforms to maintain stipulated standards of data portability and interoperability. As such, consumers will find it easier to transfer their data to other platforms. The Merger Filing Fee Modernization bills seek to raise funds for the Federal Trade Commission and the Department of Justice. 

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Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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Didi Set to Make US Stock Market Debut, Files for IPO




Anticipated to be one of the biggest tech IPOs of 2021, Didi IPO could fetch the company a $100 billion valuation while raising $10 billion.

Didi Chuxing, founded in 2012 by Cheng Wei, filed for an Initial Public Offering (IPO) under its formal name Xiaoju Kuaizhi Inc. It has become a market leader in the mobility technology industry in a short time, having acquired its biggest competitor, Uber’s China unit, in 2016. In return, Uber now has a 12.8% stake in Didi. Other high-profile investors include tech giants SoftBank Group Corp with a 21.5% stake in the company, and Tencent Holdings Ltd, which holds 6.8% of the company. Despite constant competition in the ride-hailing industry, Didi has managed to stay dominant through its continuous expansion in providing related services using top-notch technology.

Like other industries disrupted by the pandemic, Didi, too, suffered huge losses estimated at $1.6 billion for 2020. Its net profit contracted by almost 10% between 2019 and 2020, thanks to the pandemic that reduced passengers and affected business across countries. However, the first quarter of 2021 brought good news as it saw an astounding 107% growth and doubling of revenue, earning a profit of $30 million. Like major tech startups, Didi has seen losses in its 8 years of existence, however, it still reins the country’s ride-hailing industry.

Didi Chuxing has its operations in 15 countries across Africa, South America, Asia and Europe, including China, although a vast customer base comprises the Chinese population. In addition to providing app-based transportation facilities, Didi also offers food delivery, financial and automobile services. The Beijing based company has also worked in partnership with BYD Co. Ltd., a Chinese automobile manufacturer, to develop electric cars, specifically engineered for their ride-hailing business. Not just that, the company has also been a part of the strategic partnership with Guangzhou Automobile Industry Group to design, develop and manufacture autonomous electric vehicles.

In the Founder’s Letter submitted alongside the filing, CEO Cheng owned the company’s mistakes and failings, notably the rape and deaths of two female passengers and the plight of drivers who face unfair treatment. The letter mentions the solutions adopted to overcome the shortcomings that include redesigning over 200 app features, installation of safety-enhancing mechanisms and devices and the establishment of a SWAT Team that would respond to all safety incidents on a real-time basis.

With such a revaluation and improvement of existing services, Didi is all set to take advantage of the vast investment market in the US With the Covid effects diminishing and the universal rollout of vaccinations, the ride-hailing services have already hit the market like never before and Didi plans to make the most of it through the strategic use of its IPO proceeds. More than a quarter will go towards developing technological competencies while an equal share will be put on international expansion efforts. Roughly 20% of the proceeds will be used to develop new offerings, and the rest will be put to use for corporate activities.

Goldman Sachs, Morgan Stanley and JPMorgan are chosen as the lead underwriters for the IPO.

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