xx network

xx network September 16, 2023

xx network

This is a self-assessment, meaning, it is information that the issuer has written themselves. The XRP Ledger Foundation does not recommend or endorse any individual token. Read more.

Basic information

Project name: xx network
Currency: XXC (XXC)
Issuing account: rfjxCC4Nkwo8jGn3NKk4y3ji3u35X1M8oE
Distribution accounts: rBrF5xtBU3MvAMpZ6eqSnMFVnTSnbcHfBo, raCbDwASB4FPu6cp7dSAU2ubVpGnusPnRQ, rMeDZFnzLfcDCDamMKPpYMezCmUTLGBzMs

This is revision number 2, signed September 16, 2023 by rMeDZFnzLfcDCDamMKPpYMezCmUTLGBzMs

Description: xx network is a fast, low-fee quantum-ready layer 1 blockchain built in tandem with the most private communications network in the world (cMix). Founded by the godfather of digital currency and privacy technology David Chaum, the xx network mainnet launched in November 2021. Nominated Proof-of-Stake (NPoS) incentivizes coin holders to run and elect nodes as well as to participate in the governance of the platform via on-chain DAO.

By leveraging the xxDK, any application or blockchain can route their traffic through the xx network's communications layer in order to provide metadata privacy and quantum-secure encryption for all types of data communications. xx messenger, the first ever decentralized, quantum-secure, and E2E encrypted messaging app, is the first of many real-world applications built on this technology. Available on all major app stores, xx messenger's performance and unprecedented privacy has already attracted daily users in more than 65 countries.

Unique selling points: What makes this token unique, compared to the broader landscape of tokens?

xx network is one of very few projects to offer a network layer privacy protecting solution, which is provided by the cMix protocol. Using the cMix mixnet, any application, be it a blockchain payment system or a social network, can provide metadata protection to their users, ensuring that their privacy is respected.

The xx network team has built a couple of dApps to demonstrate the cMix privacy enhancement technology: https://hub.xx.network/dapps. This includes a social networking dApp, a messaging dApp and a MetaMask add-on that adds a privacy layer between the user and any EVM blockchain.

Purpose: What is the reason for issuing a new token, rather than using an existing? What purpose does this token serve, that is not possible with the native XRP token or other already existing tokens?

The xx network has its native blockchain and native coin called xx coin.

The xx Foundation is creating XXC tokens on XRPL, backed 1 to 1 by native xx coin on xx blockchain. The backing account balance and information can be seen here

By issuing XXC on XRPL, the xx Foundation is expanding the available onboarding methods for users to acquire XX, currently only listed on Centralized Exchanges. We hope this will allow both the xx and XRPL communities to more conveniently exchange, for example, their Bitstamp USD or XRP for XX without the need to navigate through numerous complex procedures.

Furthermore, the xx Foundation is driving the development of a Bridge between XRPL and the xx blockchain, which will allow users to seamlessly exchange XXC to native xx. This will allow XRPL ecosystem apps to use XXC on XRPL directly to pay for usage xx network's cMix privacy protection protocol.

Whitepaper/sales material: https://xx.network/whitepapers/

The whitepaper includes concepts of how and when are the tokens created, total supply and if applicable the distribution models and total amount of allocation.

Risk reminder: The issuer has disclosed a warning or a reminder of the risks associated with crypto/tokens.

Bug bounty program: This is not applicable for this token.

Sovereign Entity

The self-assessment is made by a soverign entity (i.e. not a legal entity, such as a general partnership, limited partnership, private limited company, public limited company, corporation, commercial association or other).

Website: https://xx.network/

Website information: The website should disclose the following information:
  • Contact information: e-mail and other contact information
  • Core team members
  • Whitepaper if available

The website contains relevant information.

Legal requirements: Legal requirements may vary per country and project. It is the responsibility of the legal entity to ensure legal compliance.

The issuer has assessed whether and what legal requirements apply to the project (licenses, jurisdictions, anti-money laundering regulations etc).

Self-assessment revisions
Revision 2September 16, 2023