Whitepapers ColossusXT COLX White Paper Explained Summary

ColossusXT COLX White Paper Explained Summary

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ColossusXT COLX White Paper

Summary:

– ColossusXT COLX is a privacy-enabled cryptocurrency for the everyday user.
– COLX features a number of technologies that benefit users privacy and/or the participation of small individual investors in the COLX network – such as obfuscation and a see-saw rewards mechanism for staking nodes and masternodes.
– The paper will also outline future developments in COLX designed to further enhance its usefulness to individuals and small businesses – most importantly, a decentralized marketplace and Colossus Grid, a decentralized grid computing framework.
– COLX is built upon PIVX, which itself is built upon the popular DASH cryptocurrency.
– With an eye on the horizon, COLX is developing two novel services to fulfil its mission: Colossus Grid, a decentralized, distributed grid computing framework; and a general-purpose decentralized marketplace.
– In addition to C2C and B2C transactions for customers and small businesses, COLX also offers a significant opportunity for the individual crypto investor in particular, as opposed to whales” and high net-worth individuals that dominate most cryptocurrency infrastructures.

Explained – ColossusXT COLX White Paper. Learn in depth about differnet coins on the blockchain by understanding whitepapers.

There is a lot to learn about this futuristic tech, lets get started to dive into the ColossusXT COLX white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.

We will deep dive into how the coin works by understanding the whitepaper and its summary. ColossusXT COLX.

Lets understand ColossusXT COLX after going through the ColossusXT COLX white paper.

Without wasting any further time lets get started to dive right in and lets understand white paper first.

What is white paper?

A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.

A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.

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ColossusXT COLX White Paper

ColossusXT COLX white paper will be going to provide you, all the information that is needed to get started with ColossusXT COLX, including the inspiration for creating, the problem it is trying to solve and the solution proposed by ColossusXT COLX.

Abstract

In this whitepaper, we are introducing Colossus XT (COLX) as a privacy-enabled cryptocurrency for the everyday user. Currently, COLX features a number of technologies that benefit users privacy and/or the participation of small individual investors in the COLX network – such as obfuscation and a see-saw rewards mechanism for staking nodes and masternodes.

The paper will also outline future developments in COLX designed to further enhance its usefulness to individuals and small businesses – most importantly, a decentralized marketplace and Colossus Grid, a decentralized grid computing framework. COLX is built upon PIVX, which itself is built upon the popular DASH cryptocurrency.

While their lineages can all be traced back to the original Satoshi Core, each project has chosen a particular direction with goals and ideals that represent the communities they serve. The COLX blockchain was designed from the outset to provide a privacy coin for the everyday user. COLXs goal is to facilitate customer-to-customer (C2C) and business-to-customer (B2C) transactions of low to medium payment sizes.

Current features of COLX that make it distinctly suited for this purpose are:

− A large supply of more than 10 billion coins, enabling a lower-than-1:1 split with major fiat currencies such as USD and EUR.

− Therefore the ability to determine prices for everyday items without juggling decimal places. − Low to zero transaction fees (also see section Zero-Fee”).

With an eye on the horizon, COLX is developing two novel services to fulfil its mission:

− Colossus Grid, a decentralized, distributed grid computing framework

− A general-purpose decentralized marketplace.

In addition to C2C and B2C transactions for customers and small businesses, COLX also offers a significant opportunity for the individual crypto investor in particular, as opposed to whales” and high net-worth individuals that dominate most cryptocurrency infrastructures.

− The COLX network, due to its relative novelty, currently has fewer masternodes than other comparable networks, thus offering a higher return-on-investment (ROI) even for modest investments in masternodes.

− COLX is developing a Shared Masternodes technology (see section Shared Masternodes” below), which will allow small investors to pool their funds in order to run a masternode with shared expenses and shared revenues, thus lowering entrance barriers to this profitable niche.

White Paper Link: ColossusXT COLX White Paper

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