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.
What is ColossusXT all about? 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.
COIN DETAILS
PoW Algorithm | Quark |
Ticker | COLX |
Block Time | 60 seconds with re-targeting after every block |
Total Supply | 12,025,310,000 COLX |
Port | 51572 |
Minted Confirmations | 90 |
Transactions Confirmations | 6 |
Masternodes | 10,000,000 COLX per Masternode (Multiple masternodes per wallet, requires a VPS) |
Stake min age | 8 hours |
Transaction Fee | 10 COLX/kB Coin Fee on transactions |
PoW SCHEDULE
Block 1 | 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 | 2500 COLX |
Blocks 151,201 – 302,399 | 1250 COLX |
Blocks 302,400 – 388,000 | 1000 COLX |
Blocks 388,000- Infinite | 1500 COLX |
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. |
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