GRAND CAYMAN, Cayman Islands--(BUSINESS WIRE)--The xx network has announced support of crypto pioneers, including Chris Larsen, for the initial Cayman sale of the xx coin starting on January 23, 2020.
The xx coin is a quantum secure digital currency designed to support and incentivize the decentralized ecosystem of the xx network, the revolutionary privacy-protecting blockchain led by David Chaum, founder of the Elixxir and Praxxis projects which underpin the xx network.
Chris Larsen, a serial entrepreneur, co-founder of the Ripple Network and longtime advocate for consumer privacy, said, "David Chaum has been a defender of privacy in the digital world for almost forty years. I am proud to be an early backer and look forward to seeing this consumer-facing blockchain open the door to secure use by millions of individuals in their daily lives."
Ownership and control of the xx network will be widely distributed to people all over the world with no private venture backing. Larsen and two other crypto pioneers will own approximately 2.5% of the coins. Additional support from Alpha node operators and other service providers will total around 0.1% of the coins. As a reward for their early backing and assistance, these coins were sold to initial backers at a 20% discount from the $0.35 public sale price.
“We are delighted to see support from all over the world for the xx coin public sale, including investors at all levels,” said David Chaum. “I’m particularly honored that savvy pioneers have backed the project.”
Initial distribution of the coin will be via an ERC-1404 smart contract to non-U.S. persons. By xx network MainNet, the smart contracts are planned to convert to official xx coins on the xx network, possibly via an intermediary smart contract.
Any and all the details of the xx network public sale will be announced through the xx-coin.io website and should be the sole source of information. No other sources of information should be relied upon. Any offer of coins or the equivalent is not open to U.S. persons.
About David Chaum:
David Chaum is widely known for inventing the first digital currency, e-Cash, in the early 1980s, which he later deployed in the 1990s at his company DigiCash. He has also recently been credited with proposing the first decentralized blockchain as his PhD dissertation at Berkeley in 1982.
About xx network:
The xx coin is a digital currency that will support decentralized messaging, payments, and dApps on the xx network. The xx network was designed in response to growing public concern for user privacy as well as the emerging threat of quantum computing. The Elixxir cMix layer provides groundbreaking privacy and security by shredding user metadata. Praxxis provides a denominated coin structure that breaks payments into individual coins to provide privacy, and a distinctive consensus protocol using hash-based cryptography, which is secure against attacks from current nation-state adversaries and future quantum computers.
xx coins are not being offered to any U.S. persons as such term is used in the Securities Act of 1933.