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About Chives Coin
Key Points
- Chives is a proof-of-space-and-time (PoST) blockchain platform.
- Goal is to be a green alternative to PoW cryptocurrency.
- Released on June 30th, 2021, with binary file for mining released on July 5th, 2021.
- Branch of CHIA XCH, allowing farmers to use free hard disk space to mine 90% of chives openly, fairly, and transparently.
Founders and Charity
- Founded by E. Savenkov, Y. Zikun, and T. Box
Introducing Chives Coin: A Revolutionary Cryptocurrency
Introducing Chives (XCC): A Comprehensive Overview
Chives is a pioneering proof-of-space-and-time (PoST) blockchain platform that aspires to offer a sustainable alternative to traditional proof-of-work (PoW) cryptocurrencies. Unlike most PoW blockchains, which rely on energy-intensive mining processes, Chives employs a significantly more environmentally friendly approach, setting a new standard for eco-conscious blockchain operations.
Chives was officially launched on June 30th, 2021, followed by the release of its binary file for mining on July 5th, 2021. As a fork of CHIA XCH, Chives enables farmers on Chives XCC to harness their free hard disk space to mine a substantial 90% of Chives in an open, fair, and transparent manner.
While Chives XCC operates as a layer 1 blockchain, it is concurrently developing a secondary network. This auxiliary network will be reinforced by Master Nodes, akin to those found in networks like DASH. The Master Nodes, also referred to as full nodes, will not engage in mining activities, but will instead facilitate instantaneous transactions, decentralized governance, and budgetary decision-making. The rollout of Master Nodes on the network is slated to occur within the next 12 months.
The remaining 10% of the block reward is dedicated to fostering a thriving and comprehensive Chives community ecosystem. The allocation of this 10% fund will be determined by the Master Nodes, which will cast their votes to support projects that make a positive, far-reaching impact on the Chives network as a whole.
The visionary team behind the Chives XCC blockchain is pioneering innovative applications for its technology, including the launch of captivating NFT gaming projects.
In July 2021, the company marked a significant milestone with the rollout of its blockchain explorer, a development that closely followed the successful launch of its proprietary wallet.
Delve into the world of Chives XCC and discover the visionary Founders behind the project, the robust network security measures in place, the intricacies of tokenomics, and the exciting future projects on the horizon.
The Visionaries Behind Chives: Meet the Founders
Chives XCC was established by a trio of visionary crypto-enthusiasts, comprising E. Savenkov, Y. Zikun, and T. Box, who shared a passion for the vast potential of cryptocurrency.
Notably, the Founders have embarked on a commendable charitable endeavor. In collaboration with The Chia Plot and other forks, Chives XCC is spearheading an environmental initiative. This noble project will be subsidized by donations from the Chives XCC community funds. The initial projection for this undertaking is an allocation of 10,000 XCC, disbursed on a monthly basis, to esteemed organizations such as
Eden Projects
and/or
Water.org
(with the final beneficiary of the donations to be determined by a vote among network members, pending the conclusion of all legal formalities surrounding this project).
Unveiling the Distinctive Characteristics of Chives
Chives XCC stands out for its distinctive design, carefully crafted with the following principles in mind:
Tap into the pulse of the Blockchain community, identifying what resonates with its members. Analyze the winning formulas and uncover the passions that drive their devotion to their favorite projects.
The project is founded upon a Proof-of-Space consensus mechanism, akin to renowned projects such as Chia. Notably, Chives XCC has distinguished itself by introducing a 0% pre-mine, eschewing ICOs, and featuring smaller plot sizes, thereby emerging as a more environmentally friendly alternative for cryptocurrency mining. Furthermore, the reduced plot sizes alleviate the strain on hardware components, such as SSDs and HDDs, during the plotting process, as the entire cryptographic process is seamlessly executed in RAM memory.
Chives XCC is actively developing and integrating smart contracts, while concurrently launching an immersive NFT-based gaming experience and a robust Master Node system.
What Is the Circulating Supply of Chives (XCC) Coins?
Notably, Chives XCC does not have a capped maximum supply, and as of the time of writing, its circulating supply stood at approximately 129,600,000 units.
Notably, this cryptocurrency boasts a unique characteristic: the absence of a pre-mine or ICO. Furthermore, it features a block issuance time of 18.75 seconds, accompanied by a block reward of 200 XCC.
There are two distinct stages involved in the distribution of Block Rewards:
The Chives XCC Network: A Fortress of Unwavering Security
Chives XCC is fortified by a cutting-edge, eco-friendly Proof of Stake (PoST) protocol, ensuring a secure and environmentally sustainable framework.
At the time of writing, the project boasts an impressive network of over 6,400 miners/farmers, collectively contributing a substantial 271 PB of storage space. Notably, the Chives XCC blockchain, although a fork of Chia XCH, distinguishes itself from other forks by its unique incompatibility with plots and network space from the Chia network or other Chia forks. This deliberate design choice significantly enhances the security of the Chives XCC network, mitigating the risk of a 51% attack. Furthermore, to bolster its defenses against potential blockchain assaults, Chives XCC is actively developing Master Nodes, an additional layer of security.
The Master Nodes, collateralized by Chives XCC, will serve as the linchpin for advanced services, governance, and security, with each node maintaining a comprehensive replica of the blockchain.
Incentivizing mechanisms are in place to reward miners, farmers, and Master Nodes, thereby acknowledging and compensating participants for their crucial role in ensuring the seamless operation of the network.
Introducing Chives Farm: A Revolutionary Blockchain-Based Yield Farming Platform
The Chives Farming Game is poised to revolutionize the gaming landscape with its innovative “play-to-earn” concept, drawing inspiration from beloved titles like Pokémon and Axie. This immersive experience will boast a bespoke narrative and tailored features, carefully crafted to resonate with our distinct community.
If you’re acquainted with play-to-earn games like Axie, you’ll be delighted to discover that our platform will feature an array of engaging functionalities, including breeding, battling, trading, and renting, all accessible to participants contributing to the game’s growth. For those with multiple pets, a lucrative opportunity awaits – renting them out to fellow players for supplementary passive income. This rental model will operate on a 20/80 or 30/70 revenue-sharing basis. Furthermore, a comprehensive Marketplace will be at your disposal, facilitating seamless trading experiences.
Chives Farm will debut with six distinct Pet races, each boasting a minimum of 6-8 diverse development paths. Furthermore, each path will be subdivided into 10 unique variations, thereby facilitating an astonishingly high degree of pet customization. The evolution of Pet levels is a intricate process, with a comprehensive set of mechanisms in place to ensure a seamless integration of the growth and development system with the economic system.
Acquiring Chives (XCC): A Comprehensive Guide to Exchanges and Marketplaces
In the vast expanse of the cryptocurrency universe, Chives XCC, a newcomer to the scene, has thus far secured listings on a mere two exchanges. At the time of writing, enthusiasts can acquire Chives XCC on the LBank exchange, as well as on the platform’s proprietary peer-to-peer exchange, accessible via chivescoin.net.
The current trading pair listed on LBank is XCC/USDT, whereas the peer-to-peer exchange on ChivesCoin.net will offer a diverse range of pairs, including, but not limited to, XCC/USDT, XCC/HVQ, and XCC/XCH.
Inaugural Phase:
A substantial 90% allocation is designated for miners and farmers, amounting to 180 XCC, while a smaller yet significant 10% portion, equivalent to 20 XCC, is reserved for the community fund, which fuels the ongoing development of the network.
Phase II:
A total allocation of 200 XCC is distributed as follows: 45% is reserved for miners and farmers, amounting to 90 XCC, while an identical percentage is allocated to Master Nodes, also totaling 90 XCC. The remaining 10% is earmarked for a community fund, dedicated to the ongoing development of the network, equivalent to 20 XCC.
The network is designed to undergo a halving process every three years, with the block reward gradually decreasing to 12.5 XCC per block by the 13th year.