SANTA MARIA, BRAZIL, February 25, 2021 — A microcap cryptocurrency x42 Protocol has created a system that is similar to Bitpay. This has been done in a decentralized manner, and users can profit from it.
The project achieved this with a small team and zero ICO funds, as the developers dint go the ICO route, but invested their own money to start this coin.
The project started back in August of 2018 with a feeless proof of stake cryptocurrency that allowed for nearly instant transactions, which made the network ahead of most cryptocurrencies. As the team promised more, the global crypto community would see the first major result on the 20th of February, 2021.
x42 Protocol has an interesting two-client system to their network. First client xCore is the basic wallet, used for transactions, cold staking delegation and interesting features like; creation of a network profile, and a domain on the x42 network. This profile is used to host the second client, and also to interact with their decentralized application layer of the network, which has not been implemented yet.
The secondary client, xServer.
Their xServer proposal is a massive decentralized computer like Ethereum, but without the gas fees. This network of servers is constantly exchanging information with one another, which makes it a persistent and a resilient database on a completely decentralized blockchain.
Such servers can be used for many things, cold staking, profile registration and price locks. This Bitpay-like service allows x42 to be temporarily ‘paired’ to a fiat currency, meaning the price of the x42 coin and fiat will not fluctuate during that period, essentially getting rid of the question ‘but how much is that in Bitcoin?, or any other crypto for that matter’.
At present there are over 30 fiat pairs, including the most common ones, United States Dollars, Canadian Dollars, Euros, Indian Rupee and others. Their system covers most, if not all the developed world fiat currencies and this could be a gamer changer in the industry.
The team has solved two major problems regarding adoption. Their system solves the problem of price fluctuation from the client prospective, as the users will always face a known quantity – fiat.
The second problem it solves is the very nature of centralized payments, this system completely removes centralized banking. A service provider only has to click ‘Create Payment’ on their system and it is ready to go, unstoppable and non-refundable.
Even with their small team x42 Protocol has solved few of the biggest problems in this industry and plans to bring more solutions in future.
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