Understanding Onyxcoin (XCN)
Onyxcoin (XCN) is an innovative cloud blockchain infrastructure that empowers organisations to develop enhanced financial services from the ground up. The project has introduced the Onyx Protocol, which is supported by the native utility token, XCN.
The Rebranding Journey
The transition from Chain to Onyxcoin marked a significant evolution in the project’s vision. Alongside this branding change, the Onyx Protocol was unveiled. This protocol is designed as a permissioned and open-source blockchain that provides clients with the ability to engage in the Onyx Decentralised Autonomous Organisation (DAO) while earning rewards in XCN.
Functionality of the Onyx Protocol
The Onyx Protocol plays a critical role in determining how assets are issued, transferred, and controlled within a blockchain network. It facilitates operational capabilities for a single entity or a consortium of organisations, allowing them to either run a network or connect to an expanding array of networks that are redefining asset movement on a global scale.
Designing for Modern Financial Systems
Onyxcoin is aimed at addressing the demands of contemporary financial systems. One of its key features is the rapid transaction processing time, measured in milliseconds for creating, signing, and validating transactions. This efficiency is crucial for businesses that require swift and reliable financial operations.
XCN Token Overview
The XCN token serves as a shared, multi-asset, and cryptographic ledger. It ensures interoperability among various independent networks, enabling different operators to share a consistent format and operational capabilities. With the support of the Onyx Protocol, XCN aims to create a flexible and valuable ecosystem that enhances financial services globally.
Key Features of Onyxcoin
- Cloud-based blockchain infrastructure
- Permissioned and open-source protocol
- Support for Decentralised Autonomous Organisation (DAO) participation
- Low transaction processing times
- Interoperability among multiple networks
- Native utility token rewarding system
Relevant Resources
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