XMax is the new addition to an ever-growing list of open source ecosystems, providing developers the support they need for crafting their ideas into successful Dapps. The XMax team aims to establish a high performance, scalable, safe, and easy-to-use blockchain ecosystem for developers in the entertainment industry. Developers shall have the modules and templates they require for prototyping Dapps quickly with the XMAX SDK. Users would not have to necessarily learn low-level blockchain languages for programming blockchain applications.
XMX is the native token used on the XMax blockchain and is the first-ever hash power token to obtain an estimated hash rate of 35,000PH/s. This is the designated rate for Bitcoin mining.
This short guide will explain what XMax is designed for, the team behind it, the way it works, and the various uses and applications.
What Is XMax Designed For?
Cryptocurrencies, until very recently, were thought to be a fringe concept better suited for hypertechnical and convoluted applications at best, and money launderers and dark-web drug dealers at worst. However, in recent times, the mass adoption of blockchain tech and crypto has achieved a solid foothold. Doors have opened for everyday users to access blockchain tech. However, there are still numerous limitations preventing mass adoption. One of the biggest limiting factors is in the form of confusing coding and entirely new programming languages.
Who Is The Team Behind XMax?
The core team behind XMax comprises of Alex Nikolaev, Hughes Ching, and Christopher Manzano. Nikolaev is the founder of Forseti, which is an arbitration protocol for Dapps. He is also the co-founder of a blockchain development firm called Hashlab.org. He has won several blockchain hackathons, including Blockchain Hack 2017(Qtum 3rd place) and Blockchain Hack 2016 (Waves 1st place).
Ching is the founder of Jing He Capital, which is a TMT (Technology, Media, and Telecom) investment company focusing on the gaming and entertainment industry. He is also known for investing in various successful projects, such as UBER, ChangBa, the Wanda Group, and other entertainment industry projects. Ching has also founded a digital currency investment fund called Consensus Capital, which has made early-stage investments in various blockchain projects, like Elf, NBS, Seele, CNN, and ABT.
Manzano has worked with top gaming companies in Asia and believes that Dapps built with blockchain technology should be simplistic and efficient.
How Does XMax Work?
XMax works by consolidating specific functions onto different sidechains, as opposed to consolidating the smart contracts on a single public chain. The platform is established to be more than a mere public blockchain. It is an operating system in itself connecting to blockchain data sources for processing data, both off-chain and on-chain.
XMax connects to public blockchains, such as the Ethereum Network to provide a set of open-chain access protocols and to integrate other chains in the platform as sidechains. These sidechains consist of open-chain access protocols, which allow developers to easily access the data shared on other sidechains. This, in turn, enhances user and developer experience.
What Are Current and Future Applications of XMax?
XMX is designed to interact with Dapps or sidechains through dual wedging in a bid to facilitate asset exchanges on the platform. It supports the two token models - XMX Rice (Fungible Token) and XMX Lobster (Non-Fungible Token).
XMX Rice is used for operating the XMax ecosystem. The platform releases tokens similar to ERC-20 tokens, which can be employed towards payment of services. XMX Lobster allows users to release tokens similar to ERC721, in which each token is non-divisible and is unique. XMax Lobster represents ownership on the XMax blockchain.
XMX can also be used by users to pay for paid content on the platform, including in-game items and services that are tradable across different platform integrated games. It is expected that XMX shall be incorporated into a community-driven contribution and account systems as the platform grows.
It is expected that XMax would become the biggest change to blockchain since Bitcoin whitepaper. New realities could be created if WebX.js is successfully turned into the new standard for Dapp development by the XMax team. It could also develop a path for the future of blockchain entertainment.