Those who have started following me recently must have realized by this time that I do my own research and find out real hidden gems from the crypto space out of the big names. Last time, I discussed about Artax(XAX), a coin which is still cheap but has huge potential.
This time, I'll mainly talk about Xuez, a new privacy coin in the crypto space developed by the community for the community. If you are not sure about the importance of privacy coins and their future potentials, I'll recommend you to go through this recent post.
Those who are in the cryptospace for few years now and quite experienced must be aware about Xios, which was an early contender in the privacy coin league but sadly, it's main developer had to abandon the project due to his family issues. A new group of developers and community members came forward to form a team and keep the project moving. A hard fork was scheduled in April and all the Xios holders received a brand new POW/MN privacy coins (, which later transitioned into POS/MN), Xuez. For an update on what went through the period of last few months from the take over by the new team to the transition of Xios to Xuez, you may look into this blog.
Now the question comes what's the big deal? What's new with this coin?
To answer this question, let us first discuss about the existing privacy coins like Zcash, Monero, Dash, Pivx and Zcoin and their issues.
Most appreciated coin among these is Monero, holds 13th position on the coinmarketcap . Monero is a privacy coin by default and is a proof of work (POW) coin based on cryptonite protocol developed as an open source CryptoNote project. They use ring signatures and stealth address features for private secure transactions. Monero has dynamic block size. As a result it maybe able to handle transactions up to 1000 per second if sufficient bandwidth in the network exists.
Dash, just one rank above Monero at the moment of writing this article is another proof of work with X11 algorithm coin forked from litecoin in 2014. Unlike Monero, a high degree of privacy on Dash transactions is questionable. The team mainly focuses on mass adaptability. It is one of the few coins which are accepted by legitimate merchants, provide visa debit cards and mobile apps with fiat convertability options making it the most adaptable and mainstream cryptocurrency in the market. But Dash with its 8MB block size can only process approximately 56 transactions per second, which is pretty slow in the current standard. A plan to increase current block size upto 400MB is in place for greater scalability.
For a comparison on their spec, one may have a quick look in the following figure.
Zcash on the other hand holds a rank 22nd on the table, an open source project grew out of the zerocoin project. Whereas, Monero mixes its transaction data with others, zcash, Pivx, zcoin eliminates traces of such data. Although, it's an open source project, cannot be considered to be fully decentralized just like Dash or Zcoin. They all support the ASIC mining, which scrambles the whole idea of decentralization and fair distribution. Moreover, Monero, Zcoin and Zcash have no decentralized governance system in place.
Another fun fact about both Monero and Zcash are that they have an inflationary coin generation model. Monero has almost 17% inflation between now and 2022 compared to 600% inflation for zcash in the next 7-8 years! Moreover, 10% of the total zcash (Zcoin 14%) will be spent for the development purposes and the entire amount will be released (by 2021) faster than the total coin release (by 2150). This means that developers may not be held responsible after 2021 for development of Zcash and may leave the project with 10% of the total Zcash! Keeping these facts in mind, Monero is actually a better investment option than zcash which will feel a lot downward pressure on price for the next 7-8 years due to its huge inflation rate.
Now, It's time for a discussion on the new player in the market, XuezCoin. I have been closely following their development from the beginning. It's a POS/MN coin with no pre-mine. It started with POW/MN with xevan algorithm with 8MB block size, 60 second block time and transitioned into POS/MN at block 43200. Privacy was implemented by a custom zerocoin protocol. The team aims to come up with an integrated platform with
Multi-sig Escrow: up to 16 Multi-signatures 3rd party escrow and In-wallet user interface for easy management of Multi Signature.
Decentralized and secure Bounty markets
User created and operated Bounty Service
Set fees, vendor bond amount
Encryption to Encryption Messaging, Sure-Spot style messaging, End to end messaging, Self-destructing messages and Private group chats,
and most importantly,
technology in the near future. Below is their reward distribution chart. It's clear that due to their low MN reward or ROI, supply will be fairly less creating huge difference between supply and demand. This should in turn surge the price of the coin in the near future.
PoW stage: 60% Masternode 40% PoW
PoS stage: 60% Masternode 40% PoS
PoS Stage with Masternode Governance: 60% Masternode, 30% PoS, 10% Masternode Governance
Current Minimum Coins for Staking: 200 XUEZ
Masternode Collateral: 1000 XUEZ
Full Block Reward Breakdown:
In conclusion, legitimate privacy coins like Monero, Zcash, Pivx, Zcoin and Xuez (not including Dash because it's not a completely privacy coin), all have potential to grow in 2018 based on their state of "decentralization", inflation rate, applicability, features and future. Xuez is still in its infancy state and currently is being listed in various exchanges. Once listed and marketed properly, it has huge potential for mass adaption solely because of its nature of private transactions and also for stuffs like atomic swaps, instant end to end encrypted messaging and vault storage in the roadmap for their platform.
Any comment and suggestion will be appreciated. Upvotes will always be encouraging! Thank you!