The cryptocurrency market is being overrun with projects that seem to have no utility. This was seen in great power during the last year, with scam projects reportedly making up to 88% of all Initial Coin Offerings. Even those that are not scams do not offer any real-world utility, instead relying on a token economy for their platform.
However, there is one coin that has established its utility in a way that is ensured for the future. Not just that, it has a robust strategy to hold its value in a dependable and stable fashion and offers investors the opportunity to gain passive income. This is the brand-new, one-stop solution for cryptocurrency enthusiasts known as Exosis.
The ecosystem is made up of 5 platforms on one network, allowing users to access a variety of features in a seamless, easy-to-use and decentralized fashion. Moreover, the platforms native coin, EXO, can be utilized across all of the services.
The parts of the ecosystem include a decentralized exchange platform, a decentralized e-commerce site, an over-the-counter platform for trading, a multiplatform e-wallet and a feature for users to generate passive income known as a virtual masternode.
Setting itself apart from the multiple Ethereum based tokens, the Exosis platform will function on its own Mainnet. The net will be coded in the C++ language and has a block time of 2.5 minutes with 10MB blocks and SegWit-enabled. It also utilizes SHA3 hash ratings, a much more advanced algorithm than SHA256 used by Bitcoin and other PoW blockchains.
Exosis will rely on the Time Travel 10 PoW algorithm for consensus. This algorithm is ASIC resistant, and mineable using both GPU and CPU. Moreover, the mining power for the coin is low, leading to an interesting value proposition for miners.
The architecture of the PoW blockchain will also rely on proof-of-authority to ensure that the master nodes and nodes are secure, and to prevent Sybil and 51 percent attacks on the platform.
To go along with the security offered by the architecture of the blockchain itself, Exosis service holds itself to a high standard of security. It boasts of an A+ level of security, offering users with the transparency to check it themselves on Mozilla observatories such as X-XSS, X-Frame, CSRF, CSP, CORs HPKP, HSTS, and secure cookies. This is to ensure user trust in the platform.
A masternode is a server on a decentralized network. However, it is distinct from regular nodes as it is required to perform unique functions that are usually not possible with a node. Due to this, a masternode typically requires two things.
By requirement, the node has to be run on a powerful computer that can run a complete node of the blockchain which is synced to all its transactions. Moreover, users are also required to stake a large number of coins. However, this will provide them with an opportunity to gain passive income.
Exosis blockchain utilizes the masternode method to create a strong base to decentralize the network and control the supply and demand. It also requires those who wish to run a masternode to have the full version of the wallet and stake at least 10,000 EXO coins. The node also requires a constant Internet connection and power.
However, Exosis has come up with an opportunity for investors by creating a system known as Virtual Masternodes. This allows users to run the masternodes and gain passive income that users can run without hardware or real-world constraints.
The system will require the users to stake a small number of coins in a certain lockdown period. The charges for the period will be 10%, 7.5%, 5% and 2.5% for 1 month, 3 months, 6 months and 12 months.
This effectively reduces the barrier of entry for those who want to generate passive income from their involvement in the Exosis ecosystem. The site will also have wallet support, and deposit and withdrawal options for multiple cryptocurrencies.
The Exosis exchange platform is created by professionals with prior experience in managing exchanges, leading them to an optimal method of operation with no pitfalls. This has led to them creating an anonymous and decentralized exchange, with strictly no involvement from the government.
Staking EXO tokens in the user’s trading balance will reward them with a discounted trading fee, with price cuts of up to 50% on the fees. It will also have a speed of more than 10,000 transactions per second, to ensure maximum speed and easy usability for the end-user.
The platform also utilizes a decentralized chat platform as a part of the exchange. Keeping in mind the true decentralization of the platform, there will be no censorship enforced on the chat. Instead, there is a system in place to ensure the user’s reputation, based on the vote score of the user. This is calculated through a system of upvotes and downvotes which is decided by other members of the community. Posts which are downvoted will be banned automatically.
Keeping in tune with the community involvement of the platform, users will be able to vote for a coin to be listed on the platform. This includes support for the coin across all 5 platforms, offering optimum liquidity and exposure to a wider audience.
Exosis has a stringent check for coins to be listed, including background and compatibility checks. This also applies to their delisting policy, wherein a coin is delisted if it falls below a threshold of liquidity.
The exchange platform also offers a trading API for use by merchants and traders. The API can either be integrated into auto trading bots for optimal profits or used for integration into businesses by merchants on the platform.
Exosis utilizes its smart contract technology to provide OTC services as a part of their utility-laden ecosystem. The transaction in question will occur directly between two individuals, establishing a peer-to-peer connection.
The OTC service will be global as opposed to an exchange fixed in a specific area. Moreover, the service will also provide a localized cryptocurrency to fiat trading platform, offering users with the onramp into the ecosystem.
The service will provide multiple cryptocurrencies and fiat currency trades while providing authenticity, transparency, and security to users.
This creates a healthy ecosystem for the EXO coin, as this service utilizes the coin as a medium of exchange. This adds utility to the coin while removing risk from the user’s experience utilizing the inherent security of the blockchain.
The user’s data, personal information, and money will be protected by the blockchain, which secures every transaction on the platform. Moreover, funds will be held in escrow by the platform until the goods are delivered to combat fraud.
For sellers, the service does not charge fees for successive sales, instead imposing only a withdrawal fee. They have the option to hold both fiat currencies and cryptocurrencies on the platform while having the option to withdraw in both fiat and crypto.
The Exosis ecosystem will feature a cross-platform e-wallet service that will allow users to transfer funds across the various services that the network offers. It will also give users a single balance across the exchange, e-commerce, OTC, and virtual masternode services, providing a level of seamless service and interoperability like never seen before.
It will be secured using high-end cryptographic algorithms, thus ensuring that malicious actors such as hackers and phishers cannot gain access to the ecosystem. There is also a minimum wallet amount of 10 EXO to be staked, so as to avoid spam attacks and sockpuppets.
The wallet will be available on Windows, MacOS, and Web platforms, with the rollout of the Linux version to come in the near future.
The Exosis ecosystem has a cap of 21 million tokens to be mined. Out of these, 2 million coins will be premined in order to raise funds as part of the ICO. 50% of the supply will be reserved for backing up the market, with 30% and 20% used for promotion and development respectively.
The coins generated in the masternode will be put back into the economy to ensure a stable value for the coin. 25% of this will be utilized to generate free coins to prevent the market from dumping.
The Exosis ecosystem is set to become one of the most established and utility-oriented platforms in the cryptocurrency world. The creators of the coin have brought it into the market on the back of years of experience in the cryptocurrency ecosystem. This has resulted in a product with an absolute focus on the end user, along with major importance given to decentralization in the short and long term. Moreover, the ecosystem holds itself to an A+ security standard across the board, a product of countless code audits and tests.
To know more about Exosis, click here.
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