If you don’t want to miss out on Chia, then get on board with XC2 -and work to build consensus and value for Chia’s eco-development
2021was the year of the blockchain, with many coins surpassing theirall-time highs. In addition to the global economy and the impact ofthe epidemic, the bull market was fuelled thanks to the hot conceptsof Defi, NFT and Filecoin. Meanwhile Chia came out of nowhere andtook the blockchain scene by storm.
Chiais a global open source decentralised network based on proof of timeand space, dedicated to creating a greener, more decentralised andsecure cryptocurrency. In Chia’s network there are no miners, nomining, but farms, farmers, seeding. By introducing a new consensusmechanism, Pos+Pot, to validate its blockchain with the help ofcheap, redundant and highly decentralised unused hard drive storage,it creates a digital currency superior to Bitcoin.
Atthe same time, in order to promote the further development of theChia network, a16z launched the P&P program which will giveretail investors access to Chia mining opportunities in the form of aretail sale of arithmetic power, and give participating P&Pmembers an airdrop of Chia’s fork XC2.
XC2is a decentralised storage network based on the fork of the Chianetwork, which promotes ecological consensus primarily for XCH. XC2encourages miners and payment parties to participate in the entireecology, promoting security of transactions as well as making theentire transaction more efficient and transparent throughpeer-to-peer data precision identification and authentication,immutability and consensus verification mechanisms. Like the Chianetwork consensus mechanism, XC2 also uses time and space consensusgeneration.
Themain value of XC2 is to benchmark Chia’s arithmetic power, to servethe Chia network, to oversee the Chia miner market, to build adecentralized distributed cloud storage service ecological network,to promote the rapid development of the Chia network, and to buildconsensus and value for Chia’s ecological development. At the sametime, a number of extensions have been made on the basis of Chia,which can greatly improve the verification probability and securityfor Chia, and significantly reduce the mining threshold, so thateveryone can easily participate.
XC2is a fork of Chia. XC2 extends Chia with several extensions that cangreatly improve the verification probability and security for Chia,and significantly lower the mining threshold so that everyone caneasily participate.
◉Extended storage range
TheChia network verifies its blockchain through hard drive storage spacefor mining, and the average retailer still has difficulty withprofessional knowledge of chia mining machine assembly, maintenance,and upgrades, making the chia network not yet more accessible to thegeneral public. Therefore, XC2 has written the same programminglanguage and arithmetic mechanism as chia into the XC2 network, andusers can use ordinary computers/cell phones/raspberry pies to enterthe XC2 network for XC2 mining, and then exchange XC2 for chia’sarithmetic power for XCH mining. In this process, users can no longerhave to assemble, maintain and upgrade the mining machine, loweringthe threshold of mining; at the same time, the huge base of retailcomputing power forms a more open cloud network.
◉Block fragmentation verification
XC2improves the probability of verification, e.g. relatively lowimportance blocks can be verified by 10%, only 10% of thenetwork-wide disk storage space is available to verify this block, orthe block can be verified via computer/mobile phone, greatlyimproving the probability of verification.
◉New transaction signatures
XC2incorporates a new signature hash (SigHash) type to provideprotection against replay attacks, improve hard disk space securityand also solve the secondary hash problem.
Thereis no upper limit to the total number of XCHs, nor is there a limit.Unlike XC2, which has a deflation mechanism, 20% of the XC2 used tobuy miners will go directly to the black hole address for destructionand is expected to enter deflation within a few years.
Inthe future, XC2 will become a pivotal ecological coin in the globaldigital currency field, continuously improving the application andmanagement capabilities of digital currency, providing a goodinvestment and application environment for investors and users, andpromoting the virtuous cycle of XC2. At the same time, XC2 is alsoworking hard to promote the development of the chia ecologicalnetwork, helping the chia network to realize mining for all and XCHto realize global circulation and payment.