XELIS price

XEL

#1305

XELIS (XEL) stands out in the cryptocurrency landscape with its innovative technology stack. At its core, XELIS employs a combination of BlockDAG, Homomorphic Encryption, Zero-Knowledge Proofs, and Smart Contracts, all built using the Rust programming language. This unique blend of technologies ensures that XELIS achieves fast transaction speeds, robust privacy, and versatile utility on its Layer 1 blockchain.

BlockDAG, or Directed Acyclic Graph, is a fundamental component of XELIS. Unlike traditional blockchains that rely on a linear chain of blocks, BlockDAG merges multiple chains into one cohesive structure. This approach enhances scalability and security by allowing the network to process transactions in parallel, reducing bottlenecks and increasing throughput.

Homomorphic Encryption is another critical feature of XELIS, implemented using the Twisted ElGamal cryptosystem. This encryption method allows for operations on encrypted data without needing to decrypt it first, ensuring that transaction amounts and balances remain confidential. The use of the Ristretto255 curve provides approximately 128 bits of security, making it a robust choice for maintaining privacy.

The Account Model, as opposed to the UTXO (Unspent Transaction Output) model used by Bitcoin, offers several advantages. It simplifies the blockchain by eliminating the need to link inputs and outputs, thereby enhancing privacy and fungibility. This model also supports a fast-sync feature, allowing nodes to download only the latest state of the chain rather than its entire history, which speeds up the synchronization process.

XELIS also incorporates a pruning system to manage blockchain size efficiently. By removing old blocks and transactions, the network can maintain a leaner and more manageable ledger, which is crucial for long-term scalability.

The P2P Encrypted Network in XELIS ensures that all communications between nodes are secure. Using the ChaCha20-Poly1305 encryption algorithm, messages are encrypted, and keys are rotated every gigabyte of data to prevent network traffic analysis and enhance privacy.

Smart Contracts, although not yet available on the mainnet, are in development. These contracts will enable automated, self-executing agreements that can facilitate a wide range of decentralized applications (dApps) once implemented.

XELIS also features an event-driven asynchronous task system, which allows for efficient handling of multiple tasks simultaneously without blocking the main execution thread. This system is crucial for maintaining high performance and responsiveness in a decentralized network.

The technology behind XELIS is designed to prevent attacks from bad actors through several mechanisms. The encrypted communication between nodes makes it difficult for attackers to intercept or tamper with data. The use of Zero-Knowledge Proofs ensures that transactions can be verified without revealing any sensitive information, adding an extra layer of security.

Furthermore, XELIS employs a difficulty adjustment mechanism to maintain network stability. This feature dynamically adjusts the difficulty of mining new blocks based on the current network conditions, ensuring that the blockchain remains secure and resistant to attacks such as double-spending or 51% attacks.

The combination of these advanced technologies positions XELIS as a highly secure and efficient cryptocurrency. Its focus on privacy, scalability, and utility makes it a compelling choice for users seeking a robust and versatile digital asset.

XELIS (XEL) is an innovative cryptocurrency built from scratch in the Rust programming language, incorporating advanced technologies like BlockDAG, Homomorphic Encryption, Zero-Knowledge Proofs, and Smart Contracts. These features enable XELIS to offer fast transaction speeds, privacy, and utility on its Layer 1 blockchain.

One of the primary real-world applications of XELIS is providing privacy for transactions and balances. This is achieved through Homomorphic Encryption using the Twisted ElGamal cryptosystem, which allows for secure and private financial interactions. This ensures that transaction amounts and balances remain confidential, enhancing user privacy.

XELIS also supports the creation and execution of smart contracts, which are self-executing contracts with the terms directly written into code. Although smart contracts are not yet available on the mainnet, their development is underway. Once implemented, they will enable decentralized applications (dApps) and automated transactions, broadening the scope of what can be achieved on the XELIS blockchain.

The cryptocurrency's use of BlockDAG technology improves scalability and security by merging multiple chains into one, rather than choosing between them. This allows for faster and more secure transactions, making XELIS suitable for daily use and potentially integrating into various financial systems.

Another significant application is the creation of custom assets that are identical to the native XEL. This feature allows developers to create local currencies or tokens for specific communities or projects, fostering a more inclusive and versatile blockchain ecosystem.

XELIS also emphasizes community-driven decisions and aims to provide a user-friendly platform. This focus ensures that the development and evolution of the blockchain are guided by its users, making it more adaptable to their needs.

The platform's account model, as opposed to the UTXO model used by Bitcoin, offers a more flexible and private system. It allows for faster synchronization by downloading only the latest state of the chain, rather than its entire history, and enhances privacy by eliminating the need to link inputs and outputs.

Additionally, XELIS employs a pruning system to reduce the blockchain's size by removing old blocks and transactions, making it more efficient and easier to manage. The peer-to-peer encrypted network further enhances privacy by preventing network traffic analysis, ensuring that all messages between nodes are securely encrypted.

In summary, XELIS provides a robust and versatile platform with applications in private transactions, smart contracts, custom asset creation, and community-driven development, all while maintaining high levels of security and privacy.

XELIS (XEL) stands out in the cryptocurrency landscape with its innovative approach, built from scratch in Rust Language. It integrates advanced features such as BlockDAG, Homomorphic Encryption, Zero-Knowledge Proofs, and Smart Contracts, aiming to combine fast transaction speed, privacy, and utility on its Layer 1 platform.

One of the pivotal moments for XELIS was its launch, which introduced the world to its unique blend of technologies. The implementation of BlockDAG was a significant milestone, enhancing the scalability and security of the network by merging chains rather than choosing between them. This approach set XELIS apart from traditional blockchain models.

The integration of Homomorphic Encryption using Twisted ElGamal marked another key event. This feature provides privacy for transactions and balances, leveraging the well-studied ElGamal cryptosystem in combination with the Ristretto255 curve to ensure a high level of security. The homomorphic operations available include addition and subtraction between ciphertexts and plaintexts, as well as multiplication against plaintext values.

In the realm of privacy and efficiency, the adoption of an Account Model instead of the UTXO model used by Bitcoin was a notable development. This model allows for a more flexible system, better privacy, and real fungibility by eliminating the need to link inputs and outputs. Additionally, it enables a fast-sync feature, allowing users to download only the latest state of the chain rather than its entire history.

The development of a pruning system to reduce the blockchain size by removing old blocks and transactions was another significant event. This system helps maintain the efficiency and manageability of the blockchain as it grows.

XELIS also made strides in network security with the implementation of a P2P Encrypted Network. This feature prevents network traffic analysis and enhances privacy by encrypting all messages between nodes with ChaCha20-Poly1305, with message keys rotated every gigabyte of data.

The listing of XELIS on exchanges such as MEXC Global expanded its accessibility and liquidity, marking an important step in its adoption. Partnerships with companies like Arcus Biosciences further underscored its growing influence and potential applications in various sectors.

The development of a Smart Contracts L1 platform was another critical event, although these contracts are not yet available on the mainnet. Progress continues to be made, with updates regularly provided through the project's official channels.

XELIS's ability to accept multiple occurrences of the same transaction was a technical advancement that improved the robustness and reliability of its transaction processing system.

These events collectively highlight the innovative trajectory of XELIS, reflecting its commitment to enhancing blockchain technology and cryptocurrency utility.