X-CHANGE was first thought of several months ago and in fact, Borz had been trying to figure out a way to create a decentralized exchange long before XBY but was always stuck with the issue of liquidity. Where was it to come from? All exchanges have a top authority (usually the owner or owners) that more or less finance the project, allowing the exchanges to occur with liquidity so that the flow of money does not end up in a debt situation. The topic came up a couple times as Borz and I were discussing other aspects of the XTRABYTES project and then one day it clicked when we were in the early stages of XFUEL discussion: STATIC Owners make deposits of the "traded coins" that will be on X-CHANGE which creates liquidity and they get paid a percentage of transactions that is indirect proportion to their deposit in relation to overall deposits. Problem solved!
Not at this point. The fact that we are using a different technology and totally different blockchain (when X-CHANGE is live) means that other tech will need to have a module to connect. So, there are some development tasks involved before this can happen. However, one of the major long term plans is that the XTRABYTES platform will have an easy drag and drop coin creation system that will offer projects the freedom to focus on business projects, rather than coin tech. We believe this will create some much better trading opportunities and these coins will have their trading home at X-CHANGE, provided they garner enough support from the STATIC community as a result of developing a solid and attractive project.
Will this be similar to Etheriums contract system, or does XBY have another system to do that? The Drag and Drop coin creation sounds great, how do coins make themselves different though?
We have a system coming that we believe will be much better and as for coins making themselves different, this will not be about the coin tech, it will be about what the project offers. We believe that our coin tech will be perfect and the only thing an entrepreneur will need to do is plug into our system with their business ideas and they will quickly have a project available that people can choose to invest in.
I'm sure you guys have already considered this, but i was watching an interview with Lior from NXT/Ardor the other day and he made a comment that they had a similar concept with NXT and the result was that it was actually too easy to create shitcoins. The result was that NXT was loaded with a lot of useless coins, and this is something they have tried to address with Ardor. Making a coin shouldn't be *too* easy. You want to attract projects that are serious, otherwise it could end up being detrimental to the platform.
I agree with that. Just a hairbrained idea, but perhaps it should be like the static nodes where you have to lock up a little capital in order to create and maintain a coin or something to that order. Incentive for serious token creation while also lowering supply of XBY.
The way we prevent this is that the STATIC owners are the ones who will choose to support a project or not. Without the support of the STATIC owners, a project will not get any traction and without at least 1, it will not even exist. One of the key things we are doing here is creating a new system that prevents shitcoins having access to the crypto community, which puts peoples finances at risk. There will be much more about this later. Just keep in mind how XBY started. There is a big incentive for both Borzalom and myself (along with many others) who got sick of the scammers and did something about it. We will not fall back and offer the same scam potential with our project.
That's great to hear. I'm starting to get very attached to my XBY and really want to see the platform succeed. I'll look forward to hearing the details on this.
this sound like a really good plan! so with the solution and deposit of the Static Owners the market will be liquid. I really want that this X-Change is coming soon
