Cryptocurrency attributes
Other attributes
The xx coin is the native digital currency of the xx network. The xx coin secures the network
through staking, enables payments, incentivizes governance, and acts as the network’s
economic vehicle. To achieve this, the xx coin is both cryptographically and structurally
unique. Coins rely upon one-time-use hash-based signatures. They provide
quantum-security that can be used to construct denominated payments which, when
combined with xx network usage, facilitate even more private payments.
xx coin technology is capable of supporting many coin structures, including:
● Denominated coins emulate physical money by having pre-set values, which are
base-two numbers such as 1, 2, 4, 8, 16, 32, etc .
● Wallets allow users to have a multi-use address in order to send and receive xx coins.
This is achieved by linking a list of hash-based public keys to the wallet address.
Transactions sent via wallets lack the privacy properties offered by denominated
coins.
● Multi-signature, whether denominated or wallet based, requires signatures from
different parties in order to be spent. This type can be used to escrow funds, share
custody, and act as the core operation in dApp consensus.
Denominated xx coins are tailored to leverage the unprecedented privacy provided by the
network’s communications layer. Payments are split into multiple denominated coins that
form individual transactions indistinguishable from one another. After being processed by
the communications layer, transactions are provided to the current leader of consensus,
who has no way of identifying how much money is being spent or is owned by each user.
xx coins can be converted to paid postage in order to send paid mix packets through the
xx network. Free postage is made available to all users in limited quantities to support free
sending of messages. Further details can be found in the xx network communications and
xx coin economics sections as well as Appendix II: Network Communications Economics.
A critical goal of the xx network is to broadly distribute coin ownership by MainNet in order
to ensure robustness of the network, create egalitarian incentives, and support
decentralization.
