Cryptography Giants Unite: XX Network and Algorand Announce Partnership

Yesterday, the XX Network, a blockchain that is focused on privacy and quantum-proofing, took to Twitter to announce an exciting partnership with the Algorand Foundation.

Both Algorand and the XX Network were founded by giants in the cryptography and cryptocurrency industry. Algorand was founded by Silvio Micali, who was the co-inventor of Zero-Knowledge Proofs, as well as being involved in the development of many other concepts that underpin modern cryptography and cryptocurrency.

The XX Network, was founded by computer scientist and cryptographer David Chaum, who is renowned for his pioneering work in digital cash technology. Chaum, a visionary in the field, established DigiCash in 1989, which developed an electronic payment system based on the concept of digital money. His contributions extend beyond that, as he played a crucial role in the development of cryptographic protocols, including secure digital voting machines and digital blind signatures.

What is the XX Network

XX Network brings important developments to the blockchain and crypto space given the rising threat of quantum computing. Quantum computers have the potential to compromise traditional cryptographic systems, creating security issues for blockchains.

Privacy is another critical aspect that the XX Network and Algorand prioritize. The XX Network’s native cryptocurrency, the XX coin, is often categorized as a “privacy coin.” The network’s communication layer divides payments into multiple-denominated coins, creating separate transactions that enhance privacy. Each transaction on the XX Network is indistinguishable, making it impossible for the consensus leader to determine the amount of money being spent or the ownership of the funds. This emphasis on privacy aligns with the overarching theme of the partnership, as both organizations strive to enhance privacy mechanisms within their ecosystems.

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The XX Network claims to have solved the blockchain trilemma, which refers to the challenge of achieving scalability, security, and decentralization simultaneously. By utilizing a mix network technology, every new node added to the XX Network increases both the processing and relay capacity of the network. This unique characteristic fosters a cycle of growth, where more nodes lead to improved security, performance, and revenue generation, facilitating further expansion. Unlike other decentralized networks that face limitations as they grow, the XX Network’s design allows for sustained growth and development.

As quantum computing continues to advance, the XX Network, with its emphasis on quantum security and privacy, stands as a key player in the evolving landscape. The collaboration with Algorand strengthens their position, as they work together to address the challenges posed by quantum computing and enhance privacy mechanisms. Users of both platforms can look forward to groundbreaking innovations that will ensure a more secure and private digital future.