What is X-Cash and Delegated Proof of Private Stake
CoinEdition
Published Apr 27, 2021 10:36AM ET
Updated Apr 27, 2021 11:01AM ET
What is X-Cash and Delegated Proof of Private Stake
Blockchain technology is widely known for the transparency it creates. A blockchain is just like a ledger that records all transactions and displays them publicly. This transparency is blockchain’s way of ensuring fair practices in financial systems. However, it raises concerns of privacy among regular users. Not everyone enjoys having the entire history of their transactions published on a public ledger after all.
To counter this problem, we’ve seen a variety of privacy protocols with varying degrees of usability emerge in recent years. One such protocol is X-Cash.
What is X-Cash?
X-Cash is an open-source protocol launched in 2018 for developing a privacy-focused cryptocurrency. X-Cash’s blockchain is a fork of Monero and it has evolved over time to bring new features and innovations into the world of privacy-focused cryptocurrencies. Even though X-Cash started out with a proof-of-work (PoW) consensus mechanism, it ditched mining and moved to staking over time. When compared to other privacy protocols, X-Cash has developped a unique differentiating feature: FlexPrivacy. It gives users full control over their privacy. They are free to choose if the...
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