What Is Oxen (OXEN)?

Oxen (OXEN) is a developer and secure messaging platform for privacy tools that was initially forked from Monero (a cryptocurrency). The network is based on the Oxen blockchain, a privacy-maintaining cryptocurrency network that seeks to help quick and secret value transfer. Through the blockchain and technology stack, the protocol seeks to offer many tools, libraries, and direct end user products that decode some of the difficult problems in the digital security space. Oxen's blockchain is supported by the Oxen Service Nodenetwork, a network of blockchain nodes managed by the Oxen community. The network aims to offer a censorship-resistant suite of tools that permits the users to transact and interact in private. 

The platform governance is developed to resolve possible issues by delivering a structured atmosphere for discourse and representation. The platform aims to solve source funding issues for the growth of Oxen without depending on external power. Oxen have acquired world-class privacy and security traits that seek to include ring signatures, stealth addresses, and ring confidential transactions. According to its whitepaper, the token aims to work on these problems by implementing ring sizes, and setting the ring size to ten.

The Oxen blockchain and the OXEN token are at the soul of the Oxen network. Together they aim to obtain incentivization, privacy, and decentralization to the Oxen tech stack. The OXEN token aims to be used for pushing secure, instant, unidentified transactions, staking to run Oxen Service Nodes, and purchasing quick and permanent usernames and domains for Oxen Wallet. The token is not just a stakeable crypto, but it also seeks to be the spine of a developing stack of privacy tools and services operating on the Oxen network. The token has an uncertain emission compensated by a token burning scheme. Cryptocurrency burning is the process where users can remove tokens from circulation, which decreases the number of coins in use.

History of Oxen (OXEN)

Kee Jefferys, Simon Harman, Johnathan Ross, and Paul McLean cofounded the Oxen. The platform released its whitepaper on July 13, 2018.