Privacy coin comparisons and a real gem in the space after Pivx and Monero: Xuez

in cryptocurrency •  7 months ago

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.

xuez-comparison-2018.png

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

  1. Multi-sig Escrow: up to 16 Multi-signatures 3rd party escrow and In-wallet user interface for easy management of Multi Signature.

  2. Self-Serve Markets

  3. Decentralized and secure Bounty markets

  4. User created and operated Bounty Service

  5. Auto-escrow release

  6. Set fees, vendor bond amount

  7. Familiar operations

  8. Encryption to Encryption Messaging, Sure-Spot style messaging, End to end messaging, Self-destructing messages and Private group chats,

  9. Multimedia support,

and most importantly,

  1. Atomic swap

  2. vault storage

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:

Screenshot from 2018-05-21 17-04-20.png

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.

bitcointalk https://bitcointalk.org/index.php?topic=3378762.0

Explorer http://xuez.donkeypool.com & http://xuezeast.donkeypool.com

Github https://github.com/XUEZ/xuez

Website https://xuezcoin.com

Reddit https://www.reddit.com/r/XUEZ

Discord https://discord.gg/Fyw3uju

Twitter https://twitter.com/XUEZcoin

Article https://medium.com/@xuezproject/welcome-to-xuez-d9241eeecc00

Any comment and suggestion will be appreciated. Upvotes will always be encouraging! Thank you!

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Why did not you include Dark Bytes?

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You got a 24.10% upvote from @luckyvotes courtesy of @stimialiti!

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You got a 23.47% upvote from @sleeplesswhale courtesy of @stimialiti!

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@youtake pulls you up ! This vote was sent to you by @stimialiti!

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This post has received a $20.00 % upvote from @siditech thanks to: @stimialiti.
Here's a banana! banana-small.png

You should check SmartCash which gave up privacy feature for favoring mass adoption but plan to release a privacy oriented sister coin (Bitcoin Confidential) in the upcoming months. Airdrop ratio will be 10 BTCC for 1 SMART.

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SmartCash: Wallet is shit can´t even sync it, staking works bad. Online wallet is buggy, this is crap compared to DeepOnion. DO has the best wallet and no buggs, smartcash can´t be adopted since it dosen´t even work!

Any adaption based on smartcash is a weak play, not private and no new functions...

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I don't have any issue with the wallet. I had a full sync in 2 hours or so.
Web wallet is really great as well, I did not experiment any bug. Plus, a lot of development is going on and a lot will be done before the end of the year (don't know if you have check the roadmap). And regarding adoption, you can already pay with SmartCash on several websites and in more than 2 millions shop in Brazil.

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This sound extremely partial! And self voted hrm hrm
The core wallet is known to be LEGENDARY bad, tried to run a "master node" with 12,000 smart, fuck that was not fun!

Wallet is not optimzed and loads the system to much. What can smartcash do that 1000 other coins cant? there are faster, more known coins? Can´t find a single reason to use smartcash : /

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I highly doubt theres two million shops in brazil that take smart cash....

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Ok well you proved me wrong! Thanks for the info, cool video showing them using a wrist band to buy something at starbucks in brazil and the wrist band was loaded with smartcash hmm makes me think smartcash might be worth investing even more into! I know its a steem related community and I saw someone in this post tipping with a smartcash tip bot on steem similar to pocket token
https://steemit.com/smartcash/@fieldsofgold/smartcash-an-introductory-guide

It really looks cool with this wristband having smartcash logo! a wristband for crypto sounds beautiful!

Any thoughts on pivx?

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I like Pivx. I like Monero but not zcash or zcoin that much because of the reasons explained above. I like Xuez of course!

I hope privacy coin is the best coins to holing portfolio !!!!

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zcash is the best privacy coin

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Research DeepOnion (ONION)

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NO question about their tech. Read my article. I never raised any question about any of their tech (or the tech of any other coin) except DASH, which is not entirely privacy coin.

First time I hear about this coin.

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Have you heard about XIOS? Possibly no! It was listed even on the coinmarketcap but then was abandoned because the main dev had family issues. Xuez is the new Xios!

How to buy?

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I think, they are now listing their coins. I'll suggest to visit their discord channel, interact with the community and then decide.

Nice summary :) I only miss DeepOnion!

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Yeah! DeepOnion (ONION)

This post has received a 26.16 % upvote from @boomerang.

Great informations about alternative Tokens 👌

WOW...you gave so much information in this one article!! I wish everything could be broken down as simply as you've done here. Thank you.

Congratulation debasis! Your post has appeared on the hot page after 33min with 16 votes.

Felicitaciones por el gran post querido amigo, pero que sea la mejor moneda para que extienda la cartera, nuevamente te felicito amigo @debasis

I hope to get a fresh look at the news I've posted on my account at Steemit and tell me what your opinion is

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banning cannot stop these privacy coins. Instead, Governments have to come up with better innovative tax systems leaving crappy, traditional tax system. They cannot stop at least Xuez. It's simply because they are trying to implement Atomic Swap with litecoin and other coins as well.

Indeed its a nice summary! And Xuez is realy a promissing project! Im following it from swap on and it got great progress so far and is in coinexchange listing progress. Got a growing nice and helpfull community on discord. Feel free to join ;) https://discord.gg/8WxYkh

Great overview, man. Thanks! XUEZ looks really promising, I will look into it. Maybe a good time to get in early?

It seems you can buy XUEZ on Bisq (decentralized exchange), you can download the client for it here: https://bisq.network/

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I'll suggest to join their community on discord. They are in the listing process.

Nice awesome comparison and this is definitely a coin I will check out !

Thanks for sharing this with the community. It always nice to read something that is done with passion.

not heard of this one seems a solid contender

what about bitcoin private(BTCP)?

More decentralized than Monero XMR without the tail emission, anti ASIC/bot forks every 6mos and profitable GPU mining?

No way 🚯

#TeamXMR

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yes, it's more decentralized because it's not a POW coin. POW protocol was used for a short period of time during coin swap. Moreover, POW is energy consuming and people are considering to adopt POS since it's security has been proven over the last few years!

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PoS security has been proven yes, but decentralized it is Not.

Monero XMR can be mined on anything including your smart TV, refrigerator, watch, earphones... chances are your mining it right now without a clue; that my friend is decentralization and network security at it's finest.

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POS is indeed a better concept than POW.

  1. POW is not energy efficient

  2. Your claim, POS is not decentralized does not make any sense for the following reason:
    There are more than 200 countries, where ASICs/GPUs are not produced and importing such devices costs a lot of money due to import and export tax! So, your claim that GPU mining is decentralized is completely first world propaganda where GPUs are easily available! Not even all first world countries have easy access to GPUs. But again, of course GPU mining is more decentralized compared to ASICs.

But I agree that Monero has one of the finest security. I even promoted Monero and Pivx but at the same time, Monero like other privacy coins like zcash or zcoin does not have a decentralized masternode governance system in place as off now. Community has no right to take any decision. If they don't set that up, its equivalent to believing central banks! I've no doubt that the team working on the monero or zcash project are there with good intentions but you never know the future!

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You're correct, PoW is not energy efficient; that's why there are solar powered Bitcoin miners being launched into orbit 😎

Your dancing around my point; most smart refrigerators DO NOT have GPUs. Profitable GPU mining is a side affect or aspect but Not the entire picture. The point is it can be mined on virtually ANYTHING... including a damaged phone ( I gave friends with profitable Android Farms mining Monero and electroneum with bulk-purchased damaged Samsungs).

You are indeed correct when it comes to governance, but don't forget both extremes, with sides of the pendulum; no governance can lead to coin death or ASIC takeovers. Community intervention is the only way forward and if the community disagrees with the devs well... even without he node, we can switch to forked coins like Monero Original 😒 or Wownero 😂

To stake a coin you FIRST have to own it or have fiat to purchase it, I'm sorry but make all the points you want; PoW mined coins are better for global and third world adoption where people do not have disposable income to 'stake'.

Cheers 🍻

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So, there's something we study/research on resource theory in quantum information theory. Any protocol which uses more resources is bad. If you have no idea about these things, there's no point arguing. We will talk after 5 years. Just a point, forget fridge, 60% of world's population is living in the dark with no electricity. Of course solar panels will bring them electricity but you add GPU/ASIC mining usage with that then panel price won't be within the reach of them (simple supply and demand). Only 2-3 countries produce solar panels. POS protocol came with the aim to remove these issues and you are now arguing POW is better :D. You must be having good time with your mining rigs (So do I)! Enjoy!

There are several banks in the world. If community cann't keep faith in Monero, there's no doubt that people will come up with several other better versions of monero just like banks. But if the working principles are the same for all these coin with a slight modification in the tech/application, then that's not decentralization. That's what I meant. Surely, a world with several banks is more decentralized than a world with just a single bank!

With Xuez or Pivx, you get a coin run by the community. And this simple change in the working principle matters a lot in the long run. I hope, you get my point, my friend!

But anyway, I like monero and Pivx(not zcash or zcoin ). The aim of this post is to introduce a new contender in the space.

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There's nothing wrong with a healthy debate. I'm all for the PoW fun; tuning rigs as a hobby and for profit has me (and many of my peers) building barebones machines like it's the 90's again. PoS takes much of that away,, much of the technology replaced by monetary algorithms.

I may be biased but, let's agree to disagree on this one.

So, there's something we study/research on resource theory in quantum information theory. Any protocol which uses more resources is bad. If you have no idea about these things, there's no point arguing. We will talk after 5 years.

Bitcoin ... the shoe fits, but has lasted longer than 5yrs and likely will another. Let's talk then indeed.

There are several banks in the world. If community cann't keep faith in Monero, there's no doubt that people will come up with several other better versions of monero just like banks. But if the working principles are the same for all these coin with a slight modification in the tech/application, then that's not decentralization. That's what I meant. Surely, a world with several banks is more decentralized than a world with just a single bank!

Thanks for elaborating on my point; why some in the community choose to endorse the forks.

With Xuez or Pivx, you get a coin run by the community. And this simple change in the working principle matters a lot in the long run. I hope, you get my point, my friend!

Personally, I think we need a purge. There are way too many coins and if that 'simple change' is all there is to these new competitors, then it likely won't be ground breaking.

Cheers

You got a 41.05% upvote from @upmewhale courtesy of @debasis!

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It it a good article for the beginning to do some research on the area of cryptocurrency with privacy. It is like an introduction.

The risk behind the development of cryptocurrencies with privacy is the government regulation. The japanese exchange Coincheck announced that they has to delist Monero, Dash and ZCash.

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banning cannot stop these privacy coins. Instead, Governments have to come up with better innovative tax systems leaving crappy, traditional tax system. They cannot stop at least Xuez. It's simply because they are trying to implement Atomic Swap with litecoin and other coins as well (as I wrote in the article). I'm sure other coins also come up with solutions to these issues.

You got a 4.39% upvote from @emperorofnaps courtesy of @debasis!

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Lots of degital currencies coming up but what I say is al of them are good or maybe they using lots of degitalsigns currency for more and more...

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Are the returns on this new coin worth staking it for a year or so?

hey, this post resteemed by @manikchandsk to over 7400 followers and voted. good luck
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We have done a review on some of the top anonymous cryptocurrencies but xuez is something really new and interesting. Thanks for the great post and information.

DeepOnion (ONION) is the best coin for dark web. Check it out!

Guys&girls i am new member plz vote me.

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Super bullish on XMR.

These days, keeping the privacy is most important tool for the crypto coin. Last time i saw, coinbase demanding for identity verification. So, privacy coin is really something to look into.

Very interesting, I can not find any comment on existing exchanges, also the Website itself does not state where to get the coins. Since it has been mined and stacking requires at least 200 coins I wonder where to get those?

Any hint?

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Hi @bitcoinquest Xuez is still in its infancy so it's yet to be added to major exchanges. You can purchase it on Bisq at the moment and other exchanges soon. Alternatively if you want to purchase it sooner you can go to the Xuez Discord Channel for more information on purchasing it from the Xuez Team Developers @ https://discord.gg/PbWqDs or contact them via their facebook or twitter accounts listed above in the article.

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Thanks for your feedback. I have been in contact with the community lately on discord. Great response and positive impression. It is a shame that mining has been finalized, this would have been great.

A shame that the article wasn´t published earlier.

There was some pretty helpful stuff there @debasis. I always did want to learn more about PIVX..

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Good post dear friends. Very helpfull this is. Thank you.

You got a 50.30% upvote from @brupvoter courtesy of @debasis!

While its nice to see the tables with all the features of the respective coins, IMHO another important aspect that should be included is the community and developers involved with the coin.

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Not sure If we need more privacy coins, but okay.

what about ALQO? they a great under valued privacy coin.

I need to add a privacy coin to my portfolio. I'll definitely keep up with your articles.

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