XX Network: A quantum-proof blockchain by the “Father of Crypto”

The xx Network’s white paper argues that all blockchains have inherent weaknesses, including:

• they are built on mechanisms that inevitably lead to the consolidation of power, therefore threatening the decentralization of the network
• they lack the ability to scale to the extent that would drive everyday adoption
• they are vulnerable to attacks (including in the future from quantum computers).

The xx Network is the first blockchain of its kind, in the sense that it is both scalable and secure, even to attacks from cryptography-breaking quantum computers (while at the same time not compromising the decentralization of the network).

In this article, we’ll take a look at the xx Network in more detail, including how it achieves speed and optimum security without compromising the decentralization of the network.

Who is David Chaum, the founder of xx Network?

The xx Network was founded by prominent computer scientist, cryptographer, and one of the pioneers of digital cash, David Chaum. Chaum founded a company in 1989 called DigiCash, a company that developed an electronic payment system based on digital cash technology. DigiCash was one of the first organizations to explore the concept of digital money. Chaum was also instrumental in the development of other cryptographic protocols, including the first secure digital voting machines and digital blind signatures.

xx Coin

The xx coin is the native cryptocurrency of the xx Network.

Xx coin uses Nominated Proof of Stake to incentivize network participation and decentralized governance. Users can earn xx coins by running an active node, nominating an active node, building an xx app, or contributing to the xx ecosystem.

At its essence, xx coin could also be classed as a “privacy coin”. The communication layer of the xx network divides payments into multiple-denominated coins that create separate transactions, resulting in exceptional privacy capabilities for the xx coin. Every transaction on the network is identical, making it impossible for the current consensus leader to determine the amount of money being spent or the ownership of the funds.

xx Blockchain

How does the xx Blockchain reach consensus?

Like many other blockchains (including bitcoin) xx Network’s blockchain uses a consensus mechanism that is byzantine fault tolerant (BFT). This means that the network can come to a consensus, even in the event that up to one-third of the network is maliciously compromised or goes offline.

However, what its whitepaper claims sets it apart are three “core innovations” which allow the nodes on the xx Network to reach consensus:

• Committed Randomness generates a new random number for every block that can’t be manipulated by any participant. Each node secretly generates many random values and publicly commits to them. When a node is chosen to produce a block, it reveals a secret that can be checked by other nodes. The chain of all previously revealed random values and the new one is used to schedule the nodes for the next round.
• Endorser Sampling chooses a smaller group of nodes to endorse a block, which allows for better scalability. A large network may have too many nodes to communicate efficiently, but a smaller group can receive, verify, and endorse the transactions in a block. The remaining nodes only need to receive a condensed record of all transactions and the endorsement of the selected nodes.
• Compact Group Endorsement Signatures is a technique that allows for quick verification of transactions, making it useful for mobile devices. The xx Network has developed a new method that reduces the size of proofs of finality by having endorsers sign only a small number of bits corresponding to the block. While each individual signature is insecure, the signatures of enough endorsers signing the same block make it secure and compact.

How the xx Network claims to solve the blockchain trilemma

The blockchain trilemma is one of the problems that all blockchains aim to solve. The blockchain trilemma asserts that when trying to achieve scalability, security, and decentralization, a blockchain compromises two of the three. The more decentralized, the slower the transaction speeds (harder to scale).

The xx network claims to have solved the blockchain trilemma – having developed a blockchain that is secure, scalable, and decentralized.

When new nodes are added to a blockchain network it usually slows down the network.

The xx network is different. It uses a mix network (a technology Chaum developed in the 1980s). Every new node that is added actually increases the processing and relay capacity of the network. This means that as more nodes are added, both the security and performance of the network improve.

This unique characteristic of the xx network creates a cycle of growth that leads to even more growth. As more people use the network, the revenue generated from usage allows the network to add even more nodes, which in turn increases the network’s capacity and availability. This leads to even more usage and revenue, and the cycle continues. This makes the xx network an attractive platform for growth and development, unlike many other decentralized networks that face limitations as they grow.

XX Network: Final Thoughts

Quantum computing has undergone rapid development in the past few years. Dell CTO recently wrote a blog post for MIT Tech Review, in which he argued that companies needed to take quantum computing and how it will impact cryptography seriously. He said:

“With the rise of quantum computing comes the need to better understand post-quantum cryptography, the development of cryptographic systems for classical computers that are able to prevent attacks launched by quantum computers. Bad actors globally are actively trying to capture and archive encrypted traffic on the assumption that sufficiently powerful quantum computers will eventually be able to decrypt that data.“

Attacks from quantum computers are likely to become a problem in the near future for blockchain networks and in some circumstances, bad actors may be able to take crypto assets directly from a user’s wallet. Chaum’s xx Network is uniquely positioned in this respect.

Where to buy xx coin

Xx coin can be purchased on the MEXC Global cryptocurrency exchange. Click the link below to sign up.