XCoin

XCoin is a decentralized digital currency built on a public blockchain. It was created in 2016 by an anonymous development group known as the X Foundation, with the aim of providing fast, low-fee peer-to-peer payments and a transparent ledger for personal and business use. The project is open-source and maintained by a community of developers, volunteers, and node operators.

The XCoin network initially used a proof-of-work consensus mechanism but migrated in 2019 to a proof-of-stake-based model to reduce energy consumption and increase transaction throughput. The transition was accompanied by a governance framework allowing stakeholders to participate in protocol decisions through XCoin Improvement Proposals (XCIPs). The blockchain supports light clients and SPV verification, enabling mobile devices and low-resource nodes to participate.

Economics and usage: XCoin has a capped supply designed to provide scarcity and long-term value accretion. New coin issuance and validation rewards are distributed to miners or validators based on their participation in block production and stake validation. The currency is traded on several exchanges and is accepted by a growing number of merchants and payment processors, particularly for cross-border transfers and microtransactions.

Security and reception: The project emphasizes open-source security audits, developer funding, and bug bounty programs. Like other public blockchains, XCoin faces risks including software bugs, network attacks, and regulatory uncertainty. Overall, it is regarded as a small-to-mid-cap cryptocurrency with a niche ecosystem.