XEL

1. Project Introduction

It uses the well-known programming language Rust to achieve security and high speed through its memory safety features. Based on an event-driven system, asynchronous tasks are used for I/O (database, P2P, API) operations.

Developers can easily monitor the network through the event system, and can receive timely notifications of any events occurring on the network and react immediately.

Main features:

BlockDAG is enabled to improve the scalability and security of the network. During a soft fork, instead of choosing one of the two chains, the two chains are merged into one.

Homomorphic encryption is enabled with ElGamal to provide privacy for transactions (transfer amounts) and balances.

The ElGamal encryption system was chosen because it is a well-known and well-researched encryption algorithm with homomorphic properties. ElGamal is fast and provides a good security level (about 128 bits of security) in combination with the Ristretto255 curve. Homomorphic operations that can be performed using ElGamal include addition/subtraction between ciphertext and plaintext and multiplication with plaintext values.

2. Team Introduction

Slixe

https://github.com/slixe

3. Token Application and Distribution

Token Application:

Block reward

Transaction fees

Token Distribution:

XELIS is a community-driven project and is not funded by any company or organization. To helps its development, success, and provide continous support, the team has set a decreasing dev fee curve starting at 10% on block reward. The funds are crucial to ensure a strong early ecosystem. This guarantees, a constant stream of capital exclusively used for the growth of the blockchain.

The funds are not there for a money grab, nor for being dumped; they are exclusively used for past / future network development expenses. The community can also suggest, ask questions about, and help decide how the funds will be spent.

Current dev fee halving is as following:

10% from block 0 to 3,250,000 (expected time is ~1.5 years with BlockDAG).

5% from 3,250,001 until the project being developed is stable on major facets of the ecosystem in order to reduce it.

Here is the estimated circulating supply for the next 5 years:

First year: 2 831 221 XEL circulating supply

Second year: 5 226 799 XEL circulating supply

Third year: 7 253 766 XEL circulating supply

Fourth year: 8 968 841 XEL circulating supply

Fifth year: 10 420 016 XEL circulating supply