Value Chain and Dexfin Coin
Dexfin Value Chain is a protocol based on a fork of the Bitcoin code which adds features specifically focused on allowing tokens to be issued on the public and open Dexfin blockchain. These tokens can have whatever properties the issue of the token decides – so they can be limited in quantity, named and be issued as securities or as collectibles.
- Dexfin Value Chain is a blockchain and platform optimized for transferring assets, such as tokens, from one token holder to another. Based on the extensive development and testing of the UTXO model of the Bitcoin protocol, Dexfin is built on a fork of the Bitcoin code. Key changes include a block reward time of one minute, a change in the number of coins issued, but not the weighted distribution schedule and the addition of asset creation and messaging capabilities.
- Dexfin Value Chain is a free and open source. All Dexfin Coins (DXFC) are fairly issued and mined publicly and transparently using Proof of Work (POW) using the X21s algorithm which was created for Dexfin Value Chain. Value Chain is intended to prioritize security, user control, privacy, and censorship resistance. It is open to use and development in any jurisdiction while allowing simple additional features for users based on need.
Representing real-world physical or digital asset
- Securities tokens: stock or shares of a company where the shares are represented by a token rather than a physical stock certificate
- Securities or partnership interests with the built-in ability to pay dividends in DXFC
- Tokens which represent a coop, limited partnership, royalty sharing or profit sharing platform
- A token which represents a cflexd-funded item with the ability to transfer or resell the item
Representing virtual goods
- Tickets to an event such as a Dexfin Hackaton with the ability to resell without worry of duplicates being made
- A license to allow an activity
- An access token to use a service
- In-game currency and items, transferable to other gamers outside of the game platform
Physical and Digital Assets
Representing a share of a project
- Gold bar
- Silver coins
- Physical Euros
- Land Deeds
- DC Comics Presents #26
- Energy credits (Electricity, Wood, Gas, Oil, Wind)
Representing a credit
- Gift cards
- Airline miles
- Reward points
What Makes Dexfin Coin Different from Bitcoin/Ravencoin?
The X21s algorithm intends to solve the centralization of mining seen on the Bitcoin blockchain caused by the introduction of expensive and highly efficient Application Specific Integrated Circuit (ASIC) hardware. By randomizing the order of 21 different hashing algorithms, Dexfin makes ASICs difficult to develop, allowing room for anyone to be able to mine the Dexfin network without the disadvantage of competing with ASIC hardware. The Dexfin team has also committed to change the hashing algorithms if a Dexfin ASIC miner is ever developed.
- Block reward of 5,000 DXFC instead of 50 BTC.
- Block time of 1 minute instead of 10.
- Total coin supply of 21 Billion instead of 21 million.
- A new mining algorithm, X21s which allows for more decentralized mining – non-ASIC, FPGA.
- Addition of Asset issuance, and transfer.
- The future addition of unique assets, sub-assets, rewards, messaging, and voting.
GPU Mine ability
Dexfin blockchain is anti-ASIC, anti-FPGA, and anti-NiceHash, and is committed to remaining a coin that is always available for mining by cryptocurrency hobbyists. We designed our X21S algorithm to be mined by GPUs only, and we will further develop our hashing algorithm as advancements are made by the opposing forces.
The X21S Algorithm
The cornerstone feature of our coin at launch is the new X21S algorithm, inspired by X22i and X16S. The hashing algorithm begins with 16 algorithms shuffled and hashed in the manner prescribed by X16S, followed by 5 additional hashing algorithms: haval256, tiger, lyra2, gost512, and sha256. The inclusion of lyra2 brings numerous advantages, making parallelization of the algorithm practically impossible, with each step relying on the previous step having already been computed. It is a “friendly” algorithm that makes GPUs produce much less heat and uses less electricity during mining.
We believe that the best ideas are discovered when many voices are heard. We desire our community to be a vocal group of differing opinions where the best ideas can float to the top and be considered. We must remain open and receptive to differing ideas, and be prepared to change even fundamental concepts in this project in response to those ideas and proposals.
The developer fund is a key component of fostering a development-oriented community. By setting aside coins from the block reward during the first year, we can offer bounties to give to community members for work they do. This has already borne fruit with the development of the GPL-licensed ccminer for X21S, as well as improved compilation code, algorithm work, explorer code, an Android wallet, and website development. We feel that the developer fund will continue to be a valuable tool to motivate the members of the community to invest their time and energy into this project during its early life.
Proof-of-Work Algorithm: X21S
Coin supply: (21 Billion)
The issuance schedule (block reward of 5,000 DXFC)
Block Time: 60 seconds
POW Block Reward: Smooth curve down
Community fund: 1% first year
Difficulty Retargeting: DGW-180
Master nodes: Based on community decisions and voting
Asset layer: Activates at height 50,000
DXFC is based on Bitcoin/Ritocoin original core with some additional features to be added with the main net release.
Why own PoW blockchain and not Bitcoin?
Some Bitcoin Maximalists will ask this question of course not only them. We are Bitcoin Supporters and our exchange will be equipped with the latest bitcoin features, like seqwit, bech addresses, lightning, liquid, hw wallet support and more. We will be contributing to Bitcoin open-source development in any possible way. When we see persons like Jack Dorsey, founder of Twitter and his involvement we and truly inspired to contribute to the development not only of our core but to the bitcoin core as well.
There are several reasons why we are not using Bitcoin as a base layer for asset issuance. We are of course are fully aware solutions like Liquid – Confidential Assets, RGB, Colored Coins which can enable token issuance on the top of bitcoin blockchain. Our team members were issuing their first testing colored coins on Bitcoin in 2014, where there were no ICOs on the Ethereum yet:-) Now in 2019, the development around asset issuance on the top of Bitcoin seems still like in 2014 with minimal development around it with only with not very notable projects working on this.
Again, we will actively support the development of assets issuance on the bitcoin blockchain as well. However, the main goal is to enable asset issuance to everyone with few clicks without the need to be a command line hacker in the shortest period of time. We believe that with the main focus on the 2nd layer scaling, asset issuance is not the top priority for the bitcoin community and core developers at the moment. Companies like Blockstream trying to solve this with their Confidential Assets and we love what these guys achieved with their cool products like their bitcoin satellite. But there is lots of work on this needed to be done to achieve some wider adoption for bitcoin issued assets. Maybe hopefully some proposals will be merged into bitcoin core at some point and we will have interoperable assets between our blockchain and bitcoin.
There is another main reason why we have decided to launch own blockchain network which will be a backbone for tokenization, exchange and upcoming finance products. Our Proof-of-Work Algorithm: X21S is mainly targeted to utilize GPUs processing power. Which means everyone will solid graphics card can contribute to the network and earn some mining revenues. If we consider that solid laptop or home PC is also equipped with decent CPU, why not to enable also additional income from idle CPU processing power.
Our exchange will enable to sell your CPU processing power to other members of our network community for a variety of tasks like optimizing Expert Advisors optimization or developing mathematical algorithmic trading models and strategy backtesting.
With our upcoming features, traders will be able to create a computing cluster for optimizing trading systems and get rewards for their CPU contributions in DXFC coins. This is, of course, is not a new idea. One of the great cases is the MQL5 Cloud Network which is a distributed calculations network that unites computers from all over the world. And you also can make your contribution to solving various issues. For some strange reason, they still do not integrate some crypto and blockchain features so we would like the first step and maybe we can create some join efforts in the upcoming phases. Our aim will be to enable everyone to contribute their CPU power to the network and get rewards via blockchain DXFC coins which he can use for spending for goods and services, staking or cross-chain swapping into bitcoin or access some premium features on the platform which we have on the roadmap.
How to contribute?
- We are working hard on the testnet release coming in the upcoming weeks. If you want to contribute anyhow feel free to contact us. Currently, we are seeking pool, blockexplorer operators who will list our blockchain once it will reach its testnet/mainnet release.
- All testnet contributors will be rewarded with DXF service token for their contributions during the testnet phase.
- Technical paper and sources will be released before the testnet launch. Sources will be freely available on our Github.
- Follow updates on our social media channels for the testnet release date.
- In case of any feedback or partnerships feel free to reach us anytime at email@example.com