Phraseology

Financial and Temporal Aspects

We employed key financial and temporal concepts in our project, such as the Annual Percentage Rate (APR) and Block Time. APR refers to the yearly rate of interest charged to borrowers or paid to investors. Block Time, on the other hand, denotes the duration taken to generate a new block in our blockchain network.

Core Technologies and Network Structure

We utilized the XCHAIN Virtual Machine (XVM), a crucial technology present on all nodes that ensured the appropriate and synchronized progress of all developments and activities within our network. Furthermore, we worked on Layer-2, a network structure with the goal of implementing solutions through structural modifications to the primary network configuration.

Mining and Consensus Mechanisms

We introduced various types of miners, including MacroMiners that operate with the XPoH consensus mechanism, and XMiners and MicroMiners that operate with the XPoS and XPoSW consensus mechanisms respectively. These miners, equipped with different capabilities and consensus mechanisms, have greatly enhanced the security, speed, and fairness of our blockchain network.

Smart Contracts and Cross-node Synchronization

We provided a user-friendly interface for smart contract creation with XASC, eliminating the need for technical knowledge in the ecosystem. We also developed XCHIWaspnest, an intelligent, platform-independent solution unique to XCHAIN, which offers cross-node synchronization and optimizes hardware usage in the hybrid mining system.

Special Features and Protocols

We introduced XCHI, the native coin of our XCHAIN network, and facilitated its use across the ecosystem. Our nodes, responsible for forming the blockchain network's consensus mechanism, securing in-network activities, and storing data, have been designed and maintained efficiently.

Moreover, we implemented the Proof of XCHI (PoM), a unique XCHAIN hybrid consensus mechanism incorporating XCHIWaspnest technology and XPoS, XPoH, and XPoSW consensus mechanisms.

Transaction Checks and Protocols

We established a system for checking transactions per second (TCPS) and designed a protocol for data transmission between devices (TCP).

The Transaction Check Time (TCT) was defined and monitored to maintain system efficiency. Our system also boasts a high Transaction Per Second (TPS) rate, enabling rapid processing of transactions on our blockchain network.

Transaction Pool

Finally, we successfully maintained a Transaction Pool (TxPool), an organized sequence where transactions are stored and sorted before being added to a new block. This structure has significantly improved the efficiency and speed of transaction processing in our blockchain network.

Consensus Mechanisms

The XPoS, or XCHI Proof of Stake, is a consensus mechanism we've implemented. It's akin to the traditional PoS (Proof of Stake) system but operates more swiftly and equitably. Another feature we developed is the XPoH or XCHI Proof of History.

This mechanism strives to verify the sequence and correctness of transactions happening on the blockchain, thereby maintaining the security of the blockchain network while ensuring rapid operations.

Innovative Mechanisms

In our project, we also developed and implemented the XPoSW, or the XCHI Proof of Social Work. This unique mechanism checks the transactions reaching the blockchain and ensures they are confirmed or denied promptly.

Additionally, it provides guidance to the user to answer questions about the ecosystem and contributes to the ecosystem in a social sense.

Node Functionality

In our network, nodes have an essential role. These devices form the blockchain network's consensus mechanism, ensure the security of innetwork activities, and store data. The nodes are vital to maintaining the network's efficiency and security.

Hybrid Consensus Mechanism

We have also worked on the PoM, or Proof of XCHI, which is a hybrid consensus mechanism. This unique XCHAIN solution incorporates XCHI Waspnest technology and XPoS, XPoH, and XPoSW consensus mechanisms, ensuring robust and efficient consensus-building in the network.

Transaction Efficiency

Our network measures the number of transactions that can be verified and confirmed per second (TCPS), ensuring a high throughput. We also use the TCP protocol, which provides data transmission between devices and aids in maintaining network communication integrity.

Transaction Speed

Transaction Check Time (TCT) and Transactions Per Second (TPS) are two parameters we closely monitor. TCT is the time it takes to check a transaction, and TPS is the number of transactions that our blockchain network can process per second.

By optimizing these two parameters, we ensure that our network remains fast and efficient.

Transaction Organization

Finally, we have a Transaction Pool (TxPool) where transactions are stored and sorted before being added to a new block. This organized sequence aids in maintaining the network's efficiency and ensuring transactions are processed in an orderly manner.

Smart Contracts and Virtual Machines

Our network is equipped with an XVM - the XCHAIN Virtual Machine, a crucial element residing on all nodes. This technology ensures the proper and synchronous progress of all developments and activities within the network. It is particularly vital in executing smart contracts and maintaining a consistent state across all nodes.

Structural Solutions

The Layer-2 network structure within our system seeks to resolve various challenges by implementing structural changes to the main network structure. This framework enables us to handle more transactions, improve scalability, and increase overall network efficiency.

Miner Classification

In our ecosystem, we have different types of miners based on the consensus mechanisms they operate with. MacroMiners operate with the XPoH consensus mechanism, while XCHIMiners operate with the XPoS consensus mechanism.

Furthermore, we have introduced MicroMiners, which are mobile miners operating with the XPoSW consensus mechanism. This variety of miners enhances the network's robustness and adaptability.

Smart Contract Formation

We have simplified the process of smart contract creation with the XASC, which provides an easy interface for the formation of smart contracts. This feature is designed to be user-friendly, not requiring any technical knowledge for users to create their own smart contracts in the ecosystem.

Optimized Synchronization and Mining

Our unique XCHAIN solution, the XCHI Waspnest, offers intelligent, platform-independent cross-node synchronization. It optimizes hardware usage in the hybrid mining system, making the mining process more efficient and balanced.

Native Coin

XCHI, is the native Coin of our XCHAIN network. This coin serves as the primary medium of exchange within the network, used for transactions, rewarding miners, and participating in network governance.

Transaction Verification and Processing

The number of transactions that can be verified and confirmed per second (TCPS) is a vital metric in our network. It indicates the network's capability to handle a large volume of transactions and directly influences the network's scalability and user experience.

Consensus Mechanisms

We've developed unique consensus mechanisms for our network. The XPoS (XCHI Proof of Stake) is a Delegated Proof of Stake variant by XCHI that works faster and fairer than the traditional PoS algorithm. It selects validators based on their stake, performance, and other factors.

Furthermore, the XPoH (XCHI Proof of History) verifies the chronological order of transactions and their correctness, ensuring a fast and secure network. Our XPoSW (XCHI Proof of Social Work) checks incoming transactions for confirmation or denial, providing guidance to the user and contributing to the ecosystem in a social sense.

Nodes

Nodes are essential components of our network. They perform various functions, including forming the consensus mechanism of the blockchain network, ensuring the security of in-network activities, and storing data. Our network's robustness and reliability depend heavily on the performance and integrity of these nodes.

Proof of XCHI and Hybrid Consensus

We've implemented the PoM (Proof of XCHI) or Hybrid consensus mechanism, which is unique to XCHAIN. It incorporates XCHI Waspnest technology and XPoS, XPoH, and XPoSW consensus mechanisms, providing a balanced and secure network operation.

Data Transmission

Our system utilizes TCP (Transmission Control Protocol) to ensure reliable and ordered delivery of data between devices. TCP plays a crucial role in maintaining the smooth and accurate transmission of information within our network.

Transaction Check Time

Transaction Check Time (TCT) is a critical metric in our system. It is the time taken to check, verify, and confirm a transaction in our network, affecting user experience and network efficiency.

Transaction Per Second

Our network's capacity to process transactions per second (TPS) is a key performance indicator. Higher TPS values mean that our network can process larger volumes of transactions, demonstrating scalability and efficiency.

TxPool

In our network, TxPool represents an organized sequence where transactions are stored and sorted before being added to a new block. It plays a critical role in managing transaction flow and maintaining network stability.

Hybrid Mining System

Our network employs a hybrid mining system, optimizing hardware usage and providing cross-node synchronization. This system is powered by our unique XCHI Waspnest technology, which supports both XCHI Miner and MicroMiner operations, offering flexibility and efficiency in the mining process.

XCHI Miner and MicroMiner

We've developed specific miner types for our network. The XCHI Miner operates with the XPoS consensus mechanism and is primarily used for larger, more resource-intensive mining operations. On the other hand, MicroMiner is a mobile miner that operates with the XPoSW consensus mechanism, offering a more flexible and accessible option for users who want to contribute to network security and earn rewards.

Smart Contract Creation (XASC)

We've simplified smart contract creation within the ecosystem through the XASC feature. It provides an easy interface for users, removing the need for deep technical knowledge to create and deploy smart contracts.

This approach has democratized access to blockchain technology, opening opportunities for more users to build on our platform.

Transaction Verification and Confirmation

Our network's ability to verify and confirm transactions per second (TCPS) is crucial in maintaining efficient operations. Higher TCPS values mean faster transaction confirmation times, leading to an improved user experience and a more efficient network.

Layer-2 Network Structure

We've implemented a Layer-2 network structure aimed at enhancing the main network structure through structural modifications. This approach helps address scalability concerns, reduces transaction costs, and improves transaction speed, significantly improving the overall network performance.

MacroMiner Operations

In our network, MacroMiners operate with the XPoH consensus mechanism. These are large-scale miners that contribute significantly to maintaining network security and processing transactions. The MacroMiner operations ensure a steady and reliable network performance.

XVM: XCHAIN Virtual Machine

The XVM or XCHAIN Virtual Machine is a core technology within our network. Present on all nodes, it ensures the proper and synchronous progress of all in-network developments and activities.

The XVM plays a crucial role in the execution of smart contracts, ensuring consistency and reliability in their operation.