XTRABYTES (XBY) is a blockchain platform based on a new concept called PoSign (Proof of Signature) to achieve a blockchain consensus. In combination with the new algorithm named Zolt, PoSign ensures fast processing of all blocks and verification of signatures. A completely new concept Proof of Signature, provides users with unmatched levels of security and speed (according to the developers it will be 10000 transactions per second).
XTRABYTES "Proof of Signature"
It gets rid of the flaws existing in the current consensus algorithms. In contrast to Proof-of-Work, PoSign is not about kicking blocks to add transaction records to your blockchain. Eliminating this, XTRABYTES ensures that no miner or group of miners can take control of a blockchain (known as the 51% attack). By removing this threat, Proof of Signature solves one of the most complex problems in cryptographic.
PoSign it also reduces the energy needed for the Proof of Work consensus. The enormous computational power required to check each transaction makes Proof of Work a highly ineffective and wasteful process, while using network nodes to verify transactions consumes significantly less energy. PoSign also uses a proprietary warning system PULSE (Ping Unified Leger Synchronization Equalizer) to communicate with network nodes, thus determining when to verify a block of transactions.
XTRABYTES is a project that most people have never heard of, but has the potential to make all the best obsolete crypto accounts.
XTRABYTES is a completely decentralized, secure platform that is applicable worldwide because it is scalable and the transaction capacity is higher than other cryptographic platforms.
Xtrabytes XBY platform
The XBY platform has been designed based on D-Appsthat can be written in almost any programming language. Starting of X-CHANGE, a decentralized cryptocurrency trading platform (DEX), to X-VAULT, secure, encrypted data storage, XTRABYTES offers it all.
Since most people in the crypto-currency space have not heard about XTRABYTES yet, this project is very undervalued. Thanks to his vision, XBY focuses on solving the most urgent problems in the world of cryptocurrencies.
Xtrabytes it is a new modular blockchain platform offering scalability and unprecedented security (SHA-512) resistant to quantum technology lurking around the corner. It is also based on the Proof-of-Signature algorithm (PoSign), which makes it Digging coins is technology obsolete.
XtraBytes will run on a node system whose sole responsibility will be authentication transactions. Every change in the blockchain must be approved by all nodesand those who consistently try to sign invalid parts of the code will be immediately blacklisted from the network. Similar technology is already successfully used by other major players in the world of cryptography, such as DASH or IOTA.
The creators want to stipulate the uniqueness of this cryptocurrency, so they are striving for patenting this technology. Work on eight patents has been going on for several months and is entering the last stage. After XBY is patented - it will be one of a kind and it will not be possible to create similar coins on the same code. This will be the first cryptomonet whose code has been patented. An additional advantage is that the developers created the company XtraByte Ltdwhere he became the president Allen rothwellwho resigned from the manager function at HP.
If you are looking for something new, innovative, then maybe it is worth XBY's interest, because it can mix in the world of cryptocurrencies.
The XBY cryptocurrency is available for purchase on the stock exchange Cryptopia.