The crypto most likely to open the era of anonymous cross-chain
The current blockchain world has become fragmented, and can be roughly divided into four major sectors:
1. Currency, such as Bitcoin, Dogecoin, etc.
2. Smart contract operating system, such as Ethereum, Tron, Binance smart chain, etc.
3. Cross-chain categories, such as Polkadot
4. Anonymous, such as XMR, ZEC, ZEN and other anonymous currencies
However, no matter which type of cryptocurrency is, it can only meet 1–2 kinds of needs at the same time, and cannot meet the needs of the increasingly large user group diversity. If you want to achieve diverse interactive operation needs, you need to pass CEX (such as binance ) Or DEX (such as uniswap) or mixed currency pool (such as tornado) to perform complicated transfer operations step by step.
Is there a cryptocurrency that can meet multiple needs at the same time?
While possessing currency attributes, it has an operable and interactive system, and at the same time it can meet the needs of personal privacy and security, and can achieve safe and seamless cross-chain transactions.
The answer is yes.
According to the latest Boxie white paper, Boxie is an operating system that supports anonymous smart interactive contracts. Its technical architecture is mainly smart contract layer + anonymity layer + cross-chain layer2. The anonymity layer uses the zero-knowledge proof that the technology is quite mature, and on this basis, the original infog protocol is created.
The official interpretation of the infog protocol is as follows,
Infog Protocol is Boxie’s original cross-chain anonymous exchange protocol. The chain pool realizes cross-chain value exchange through the liquidity of existing assets and the price protection of the oracle.
However, it is not enough to achieve cross-chain value exchange. Boxie is always committed to ensuring the privacy of both parties to the transaction. After the assets of both parties arrive in the sidechain pool, they will be obfuscated transfers by Boxie nodes, and the amount of obfuscated transfers is proportional to the transaction amount. In theory, the larger the number of actual operating nodes of Boxie, the larger the amount of cross-chain transfer, the larger the number of confused transfers, and it is very difficult to trace the actual transaction.
According to the information shown in its white paper, Boxie’s proof mechanism is PPoW (Private Proof of Work), and the principle is basically the same as that of PoW, with certain differences. It does not use the PoS proof mechanism that is popular nowadays. The total amount of tokens is 2,100,000,000 BXE, of which PPoW mining output is 59%; DeFi + meta universe mining accounts for 26% of the total issuance; 5% is reserved for the foundation tokens for the development of ecological incentives, advisory teams, and Marketing promotion, this part of BXE is divided into 5 years to unlock; 5% is used for the development team, and the unlocking rules will be depend on community DAO ; 2% is used for testnet airdrop rewards; 1% is used for early investors (including institutions and individuals) Sales (please refer to the official announcement for all sales information); 2% is used for long-term community incentives.
Compared with the token distribution of the recent star project SWARM (foundation 7%, private placement 42%, public offering 8%, DApp subsidy 10%, development team 20%, ecological construction 13%), Boxie’s token distribution mechanism is even more Scientifically reasonable and fairer.
The competition in the public chain may always exist in the blockchain world. How Boxie will perform in the future depends on its further development and actions.
I will continue to monitor the progress of this project, and I will also synchronize information here when opening the testnet for mining.
If you are interested, you can follow their twitter: https://twitter.com/boxiecoin
The market is risky, this article is not intended as financial advice.