Eternal Token (XET) is a cryptocurrency created as a mechanism to trade the XEC token without the need for authorized exchanges (XEC exchanges). XEC Coin (Eternal Coin) is a digital currency issued by Atom Solutions, as per the whitepaper. XEC token is only tradable at approved exchanges.
There are many advantages of being traded at authorized exchanges, like having a multi-currency wallet. These wallets preserve traditional currencies in one wallet because of being a typical worldwide wallet. These exchanges are also traceable, with chances of being hacked.
Authorized exchanges allow XEC value to be divided into smaller fractions. These exchanges enable payments in traditional currency and transfers made via mobile phones. Also, dividends are distributed weekly on 50 percent transaction fees. Although these exchanges have all these advantages but authorized exchanges are not suitable for users who wish to obtain XEC tokens where these exchanges are not available.
XET token has been created for countries that don’t have XEC exchanges and wish to obtain the XEC tokens. Also, XET can be exchanged with other cryptocurrencies through various trading platforms worldwide. In countries without an XEC exchange facility, users cannot receive XECs when they open a wallet. In addition, there is no merit in owning XEC because users cannot send funds overseas or pay to member stores.
XEC cannot be exchanged for other cryptocurrencies because XEC allows users to receive dividends via the Eternal Wallet. This shortcoming has been eliminated by exchanging XEC and XET and vice versa. There are solutions to deal with hacking and incorrect transfer issues. XEC users who do not need to exchange XECs for XETs, can earn additional dividends by holding the XEC token.
The method of issuing virtual currencies compatible with XEC and XET is a new form of cryptocurrency. The method solves the shortcomings of common cryptocurrencies and the shortcomings of Eternal coin and its characteristics.
