By HM - MN.Investments content producer, Midas.Investments
Midas announces the listing of XDNA (XDNA) to the Midas platform as an Instant Share. Invest today to receive instant rewards.
What is XDNA and what does it offer?
XDNA is a cryptocurrency created last year with a few modifications to differentiate itself from thousands of other coins. The project is still around until today despite the year-long bearish market. The main sellling point for this coin is the fact that it claims to be ASIC/FPGA-resistant, which I will explain in a moment, and funds its own charity platform XDNA Foundation.
Quick background: Within the mining community, ASIC (application-specific integrated circuit) and FPGA (field programmable gate array) mining machines are cost-intensive, and they engorge much of the reward from almost every proof-of-work crypto projects. According to some, this is against the decentralization philosophy of cryptocurrency because these machines concentrate the network in the hands of few players and make smaller GPU home miners irrelevant in the big picture.
XDNA introduces an innovative coin emission schedule consisting of two phases to combat the problem - proof of work and then proof of stake with masternodes. The proof-of-work phase uses the HEX algorithm to verify transactions, which the team has created to include a random sequence of 16 other algorithms. The goal is to make the design and manufacturing of ASIC and FPGA machines no more efficient than any GPU miners on the market.
The proof-of-stake phase with a network of masternodes is called T.N.T or Triple Node Technology. There are three levels of collateral requirements with different rewards, ensuring people with varying budgets to join the network. The block reward scheme is called BitGun and involved with very intricate math, but essentially the goal is to reduce rewards over time. The reward from any block height is not a constant number as it can change dynamically depending on the network difficulty and how many miners are contributing their hashing power. The team calculated that the total supply is 80,620,000 XDNA.
Regardless of the changing block reward, 2% from each block will be dedicated to the charity platform XDNA Foundation. As long as you mine or operate a masternode, you are actively donating your earnings for the greater good. The platform is peer-to-peer globally, meaning anyone can announce a request and you can vote and send XDNA to help. There is an application form to complete, and the team will review and verify each request for authenticity. The platform has been operational here.
S.F. Vakano, Chief Executive Officer / Co-Founder, Email
Kazimir Frolov, Chief Technical Officer / Co-Founder, Email
Artur Prints, Chief Marketing Officer / Co-Founder, Email
Where can I purchase XDNA?
Total supply: 80 620 000
Consensus algorithm: PoW until block 1,440,000. MN/PoS from block 1,440,001 and beyond
Masternode collateral: three tiers of collateral requirements (1000, 3000 and 5000)
Block time: 60 seconds
Block reward: variable rewards depending on block height and difficulty
Can I get more information about XDNA?
Why have Midas offered XDNA (XDNA) to our community?
Midas have identified 2019 as the year of utility - projects can no longer exist solely by offering high masternode rewards to investors. We are taking large strides to be at the forefront of the shared masternode space, listing only projects we have identified as having strong fundamentals, potential for long term success and plausible application in real-world use cases in sectors that blockchain is poised to disrupt.
Do you want to become a Midas partner?
Midas is looking for great projects to join us on our journey. Get in contact with the team via Discord for more details, and visit midas.investments for information on our project, team and road map.