Bitcoin Press Release: ColossusXT offers a cryptocurrency that tackles issues currently plaguing digital Coins of today by bringing speed, efficiency, and privacy. The Colossus Grid is a framework for sharing and utilizing computational power and storage.
October 24th, 2018, Wyoming, USA – Blockchain startup ColossusXT will address multiple digital coin issues with its decentralized grid, offering superior levels of speed, efficiency, and privacy than the majority of alternatives. In a sea of digital Coins, ColossusXT aims to stand out, using a framework called Colossus Grid.
ColossusXT provides an energy efficient method of supercomputing and offers a series of unique attributes that separate it from many alternative coins of a similar nature. For example, some coins have just one layer of privacy where ColossusXT and the Colossus Grid will utilize two layers of privacy through Obfuscation Zerocoin Protocol, and Armis (I2P) I2P. These will protect users of the Colossus Grid as they utilize grid resources.
ColossusXT uses Masternodes and Proof of Stake which both contributes to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and this means is that users will begin to experience the Internet as a seamless computational universe.
Software applications, databases, sensors, video, and audio streams-all will be reborn as services that live in cyberspace, assembling and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.
PoS vs PoW
Users do not have to have a large number of coins in order to stake on PoS. This will determine how often they are rewarded but can stake with as little as 1000 ColossusXT (COLX). Staking Calculator: https://calculator.colossusxt.io/staking
ColossusXT also has two security protections that are not offered with PoW. PoS provides more security to prevent bad actors from attacking the chain. The company’s second layer is Master-node Technology. ColossusXT’s (TPS) is also currently faster than Litecoin, and has a feature for zero-fee transactions.
Instead of using more complex protocols to create workaround the above-mentioned issues, CollosusXT gives simpler solutions. The problem that ColossusXT addresses a lack of computational power to process all the DATA. (There are thousands of teraflops of DATA everyday), ColossusXT will provide an innovative solution, which is to use already existing computing power through the Colossus Grid, which can then be utilized to analyze the DATA as well as storing DATA through the Colossus Grid’s decentralized storage.
Website – https://colossusxt.io/
Whitepaper – https://colossusxt.io/whitepaper/
Twitter – https://twitter.com/colossuscoinxt
Facebook – https://www.facebook.com/ColossusCoin/
Telegram – https://t.me/colossuscoin
Discord – https://discord.colossusxt.io
Reddit – https://www.reddit.com/r/ColossuscoinX/
Contribute an Idea – https://governance.colossusxt.io/proposals
ColossusXT is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and coins are extremely volatile. There is no guarantee of a stable value, or of any value at all. Coinsales are only suitable for individuals with a high-risk tolerance. Only participate in a coinevent with what you can afford to lose.
The post ColossusXT: Armis bringing privacy solutions to the Colossus Grid appeared first on Bitcoin PR Buzz.
Source: BPRB Feed