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.

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.

Exciting Tech

Proof of Stake 3.0 protocol | Masternodes | SwiftTX Instant Transactions | Private Instant Verified Transactions (full-time private transactions) | Obfuscation Mixing Mechanism

Energy and Cost Efficiency

Proof of Stake is a highly energy efficient method of securing a coin's blockchain. Mining does not require the intense computing power, only a small amount of CPU power.

Masternodes

Masternode technology is used for securing the network with a positive side effect of stabilizing the market price. Holders are rewarded with block rewards.

Extra Privacy

Full privacy is secured by technology making the transactions untraceable. Anonymous transactions are achieved by using the Obfuscation Mixing Mechanism. It allows mixing of coins through the masternode network to make those amount of coins much harder to trace in the blockchain.

Instant Transactions

Transfer your money instantly with SwiftTX, guaranteed zero confirmation transactions. This allows the network to function at optimal efficiency and guarantee steady transaction processing.

Secure Transactions

Public-key cryptography is employed, a process in which a pair of a public and a private cryptographic keys are generated. The core network is maintained by coin holders, and the Proof of Stake distributed consensus mechanism reduces the risk of 51% attacks.

COIN DETAILS

PoW Algorithm
Quark
Ticker
COLX
Block Time
60 seconds with re-targeting after every block
Total Supply
(from PoW phase, incl. pre-mine)
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.

Interested in buying COLX?

Cryptopia Exchange is the newest exchange to obtain COLX.

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