What Is Whitecoin (XWC)?
Whitecoin is a public chain that connects blockchains through the multi-tunnel blockchain communication protocol (MTBCP). MTBCP is whitecoin’s original communication protocol used to transmit point-to-point information among blockchains.
The Whitecoin ecosystem is based on the random proof-of-stake consensus. The ecosystem consists of the whitecoin axis, whitecoin wallet, decentralized mining pools, and smart contract platforms to seek to develop cross-chain blockchain ecological infrastructure. Smart contracts are like regular contracts, but instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. The whitepaper lists the properties of whitecoin as follows:
Interconnection of cross-chain: Due to the MTBCP, the interconnection of different blockchains was made possible. These cross-chains brought in improvements like:
Realization that interconnection is cross-chain.
Established a cross-chain ecosystem by eliminating the barrier between various blockchains.
Improved blockchain implementation for internet facilities and delivered better extensions and value sharing of blockchain.
100% reserve ratio: The reserve ratio of Whitecoin has been set to 100% to seek to ensure the safety and stability of the Whitecoin ecosystem. Every WAMP consists of an authentic original chain asset, and all assets are kept in a hot or cold multi-signature wallet address managed by the RPOS mechanism. Whitecoin Anchored Multi-properties (WAMP) are other asset chain digital assets anchored on whitecoin.
Efficiency: The parent chain seeks to create a block every 6 seconds with the help of a random proof-of-stake mechanism. On the other hand, it takes 10 minutes for BTC to produce a block and 2.5 minutes for LTC to produce a block, and compared to the former two, Whitecoin’s transaction speed is significantly better.
Smart contract: With smart contracts, Whitecoin users can process flexible and complicated services like financial contracts. Developers can use limited and controllable dynamic extensible applications like token contracts, trading contracts, lock contracts, and DApp contracts.
XWC is the native token of Whitecoin, which has utilities like upgrading the role of the network users (upgrading citizens to candidates). Also, the network users have presented block rewards, block transaction fees, and contract withdrawal fees based on the number of XWC tokens they have in their possession.
History of Whitecoin
Whitecoin was launched in April 2014, and the maximum total supply of XWC tokens is 1,000,000,000 XWC coins.
