Mission Statement: To build a truly decentralized grid platform that caters to the privacy of its users. The Problem: A growing need for computing power without the crutch of centralization and the breach of users' privacy. Issues defined: 1) Computing power is the basis for all modern human activity. 2) Computational ability is reaching a ceiling. 3) Access to powerful computers has always been under the purview of governments or the richest of technology companies. 4) The centralized cloud computing market is dominated by a select few entities. 5) None of the current distributed computing platforms are addressing user privacy effectively. The solution: A full-scale transition to distributed systems that cater to privacy has finally become a viable option;
Colossusˣᵗ (ticker: COLX) is a community- orientated, energy efficient coin with a strong focus on decentralization, privacy, and real-world implementation. It utilizes an energy efficient Proof of Stake 3.0 protocol and a second-tier Masternode network for inclusive community-based governance along with a blockchain based self-funding treasury system ensuring its sustainability. In order to reach this level of usability, COLX is continually evolving. The goal of COLX is to be an advanced digital currency that is fast, secure, decentralized, private, and connects all of its users for a greater purpose as part of the Colossus Grid. Colossus Grid is an ambitious project that aims to reward individuals for voluntary grid contributions. With this, Colossusˣᵗ seeks to compete in the global market for distributed computing power and decentralized storage all while riding on the backbone of a world class privacy blockchain.
To build a truly decentralized grid platform that caters to the privacy of its users.
A growing need for computing power without the crutch of centralization and the breach of users' privacy.
1) Computing power is the basis for all modern human activity
2) Computational ability is reaching a ceiling
3) Access to powerful computers has always been under the purview of governments or the richest of technology companies
4) The centralized cloud computing market is dominated by a select few entities
5) None of the current distributed computing platforms are addressing user privacy effectively
A full-scale transition to distributed systems that cater to privacy has finally become a viable option;
ColossusXT is an open source, community driven, environmentally conscious cryptocurrency and an alternative to bitcoin that features better anonymity. It allows people to store and invest their wealth in a non-government controlled currency and make almost instantaneous and completely anonymous transfers with close to zero fees. Colossuscoin was founded as an long-standing, energy-efficient and environmentally friendly digital cryptocurrency and this concept is being continued.
A privacy-centric, energy-efficient, decentralized, open-source, peer-to-peer (P2P) digital currency with instant and anonymous transactions.
A two tier network based on the popular Bitcoin core software, utilises Masternodes and Proof of Stake 3.0 protocol for securing its network which gives it unmatched stability and easy accessibility.
Full privacy is secured by technology making transactions and user personally identifiable information (PII) untraceable. Anonymous transactions are achieved by using the ZeroCoin protocol, and privacy of PII is obtained through ARMIS. ARMIS creates a private overlay network across the internet which strengthens a user’s privacy. This protected network allows users to hide their geographical location by obfuscating their ip address, replacing them with encrypted identities.
ColossusXT Updates for the Week
Roadmap 2019+ has been released
New Wallet release addressing the “Fake Stake” attack issue on chain-based PoS cryptocurrencies
ColossusCoinXT is now available to trade on http://txbit.io !
|60 seconds with re-targeting after every block|
|10,000,000 COLX per Masternode |
(Multiple masternodes per wallet, requires a VPS)
Stake min age
|10 COLX/kB Coin Fee on transactions|
|12 Billion COLX pre-mined |
Reserved for a coin swap and four initial Masternodes. All initial Masternodes and colx not used in the swap has been destroyed. No pre-mined colx remains with the development team.
Blocks 2 – 10,124
|PoW 2500 Coins per Block for 10,123 Blocks|
Blocks 10,125 – 151,200
Blocks 151,201 – 302,399
Blocks 302,400 – 388,000
Blocks 388,000- Infinite
100% distributed to stake wallet and Masternodes
|Until block 388,000, after block 388,000 it will be 80% (1200 COLX per block) (see masternode proposals)|
10% (150 COLX per Block) to masternode proposals
|Masternode proposals (Decentralized Governance and Budget Funding) will begin to commence on block > 388,000. Masternode Owners have to actively create proposals which help the development of Colx.|
10% (150 COLX per Block) to the official developer Fund
|Budget supports funding the development of the ColossusXT project toward our roadmap goals and to cover maintenance costs.|