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Summary
- XFUEL™ is the development token and first token on the XTRABYTES™ blockchain.
- XFUEL™ serves to fund XTRABYTES™, encourage participation, and demonstrate the PoSign consensus algorithm.
- XFUEL™ enables payment to participants for their time and efforts.
- XTRABYTES™ did not conduct an ICO, and XFUEL™ was necessary for project development.
- XBY is the native currency and protocol coin for the XTRABYTES™ platform.
- XBY has been completely distributed and cannot be mined or staked.
- XBY can be used to purchase goods and services and secure STATIC nodes.
- Total supply
About XFUEL: Empowering a New Era of Decentralized Applications
XFUEL™ is touted as the pioneering development token and inaugural token on the XTRABYTES™ blockchain. As such, it fulfills a multifaceted role, providing a means to fund XTRABYTES™, foster project participation, and serve as a proof of concept for the innovative PoSign consensus algorithm, which operates on a streamlined version that eliminates the need for miners to secure the chain. Furthermore, XFUEL™ offers a monetary incentive, enabling the project to compensate participants for their time and efforts. In essence, XFUEL™ has been instrumental in kick-starting and building out the XTRABYTES™ project, as the absence of XFUEL™ would have rendered it impossible to initiate and develop the project. Notably, XTRABYTES™ opted against conducting an initial coin offering (ICO), which meant that there was no ICO funding available to remunerate project contributors, and development would have been incremental at best.
Distinguishing itself from XBY, the native currency and protocol coin of the XTRABYTES™ platform, XBY boasts a unique characteristic. Having been fully distributed, XBY cannot be mined or staked. Like any other cryptocurrency, XBY can be utilized to acquire goods and services. Furthermore, XBY plays a crucial role in securing STATIC nodes on the XTRABYTES™ network. The total supply of XBY is capped at 650 million, with its circulating supply being dynamic and comprising those XBY coins not locked into STATIC nodes.