XendBit - Decentralized Exchange & Financial Services

The Cryptocurrency market is nowadays pretty similar to the Wild West during the gold rush period. It is possible to earn money very quickly, sometimes even good money, but you have to find a perfect spot, or in this case, a good project to invest. Common thing to the Wild West? No guaranties and almost no law. It is pretty easy to find bad cowboys which are going to promise you golden mountains to steal your last piece of bread. So in all this mess, if you want to find your gold nugget, you can trust just your own brain composites. With my research, I found this project in which I really put my faith: XENBIT. Very likely you haven’t heard about them, project is made by great team members. Nevertheless, guys have an advantage, many other teams does not: already existing product made on a very perspective field. But these are not all pluses I found in this project. Below you can read the analysis and decide on your own, do you want to send some pennies to the pot.

XendBit is a decentralised blockchain platform for remittances, payments, aid disbursement, store-of-value and credit. The XendBit wallet uses bank-verified KYC and is being developed as an exchange. XendBit will be a platform to enable new blockchain-based financial services, taking advantage of the new opportunities presented by the blockchain ecosystem such as smart contracts, ICOs, crypto-loans, venture financing, and tokenization which will power digital identities, certificate registration and verification services.

In addition, Centralised exchanges are susceptible to internal and external security risks. The XendBit wallet uses bank-verified KYC and is being developed as an exchange.

**BENEFITS OF XendBit PLATFORM **

Decentralised crypto-exchange and wallet with enhanced security.

Transparent aid disbursement and management.

Payments and remittance.

Easy access to account opening and other financial inclusion services.

Decentralised applications (dApps) development platform.

XendBit is a fully decentralised blockchain platform that allows users to trade safely and securely without risking customer funds.

XendCash

Remitting cryptocurrencies and instantly transferring value in any currency anywhere in the world through instant settlements.

XendAid

Leveraging blockchain technology to empower and provide grants and disburse aid by transparent, immutable & cryptograhic processes.

XendCredit

Application of blockchain technology for financial inclusion with access to credit after account creation.

FEATURES OF XENBIT PLATFORM

Smart Identity

Creating an identity on the blockchain can give individuals greater control over who has access to their personal information. Through the blockchain, identities can become globally accessible in a way that creates more transparency for service providers such as financial services, charities, donors, grant makers and sponsors. A blockchain-verified identity also addresses the challenges of establishing provenance, authentication and reconciliation faced by many industries. Xend's Smart ID is a DApp that enables the use of blockchain in areas such as digital identities, banking, passports, e-residency, birth certificates; wedding certificates and online IDs.

The Xend Smart ID Card offers a convenient way for individuals to make micropayments through an embedded RFID which stores the Xend wallet's private key, encrypted with a two-word phrase.

Smart Nodes

Smart nodes are blockchain nodes that require KYC registration of node owners, whereby the nodes run in a semi-permissioned mode with incentives (harvesting). Smart nodes are associated with a registered and verified XendBit wallet in a way that prevents the possibility of a 51% attack on the blockchain network.

Smart nodes will be further protected by a specially built Linux Operating System (OS) Live image comprising of uniquely selected applications, tools and packages with zero vulnerabilities that will ensure the highest level of OS security.

Smart Java Beans

SJBs are based on the concept of java beans, originally conceived by James Gosling, that can be run on the NXT blockchain. SJBs stateful smart contracts design is also drawn from the lessons of flexibility, scale, and security from digital circuit design principles.

SJBs must follow approapriate naming conventions. For example, methods that must return a value must begin with 'get' e.g. 'public long getAccountBalance(). These types of methods cost 0 to execute and don't affect the state of the SJB on the blockchain.

Xend dApps Platform

The Xend dApps platform inherently employs Java technology scalability features to handle high transaction volume. Often known to clog dApps networks, high transaction volume leads to slower transaction times and inflated fees as seen on other popular dApps-based blockchain platforms. Examples of Xend dApps include XendCash for remittance, XendAid for transparent and more efficient aid disbursement, and the upcoming XendCredit for financial inclusion.

Originally, NXT presented a powerful blockchain with a robust set of features as a leading 2nd generation blockchain. While NXT did not originally suppport smart contracts, they have now been added as part of Jerulda's implementation of lightweight contracts. It is noteworthy however that the XendBit team was able to implement smart contracts alongside Jerulda's current initiative.

Other benefits of using the platform include;

Reduced Transaction Cost

XendBit features Xendcoin, which is native to the XendBit DEX. Transactions based on Xendcoin will attract lower fees.

Localised Tether Coins

As P2P trading becomes more fluid, traders can engage and settle trades faster than bank transfers or foreign TetherCoins.

Easy Bank Integration

The XendBit blockchain platform is able to integrate with most banks in Africa and beyond including Nigeria, Ghana, Kenya, South Africa and Rwanda.

TOKEN AND ICO DETAILS

Token Details

Token Symbol: XTN

Tokens for sale: 100,000,000

Token Price: $0.20 USD

Specifications: XEND token

Max circulating supply: 200,000,000

ROADMAP AND DEVELOPMENT PERSPECTIVE

2017 Q1

Android Bitcoin Wallet.

Brokerage and asset custodian service development.

2017 Q2

Multi-Chain Wallet implementation

Support for Bitcoin, Litecoin, Ethereum e.t.c.

2017 Q3

Investigation of Various Blockchain Technologies.

Development of Wallet with Utility Coin.

2017 Q4

Semi-Centralised Exchange

Server-Side Implementation.

Remote Transaction Signing.

2018 Q1

XendBit Blockchain Forked

Alpha Release of XendBit Exchange

2018 Q2

Multi-Chain Decentralised Exchange Features

Fiat-to-Crypto & Crypto-to-Crypto

2018 Q3

Alpha Release of XendCoin Blockchain

Smart Contract Support

2018 Q4

Token Sale

Private Sale, Public Presale

Full Service Launch

Partner Onboarding for XendCash & XendAid

2019 Q1

Public Sale (ICO)

XendCash & XendAid Blockchain Applications v1.0 Release

API Development

2019 Q2

XendCredit Development

XendCredit Will Reduce the Cost of Micro-lending.

Above you can see the roadmap — how the team sees their nearest and long-term future.

TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT

Team seems to be the strongest part of this project. It consists of innovative and talented people. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field.

For more information, please visit:

Website: https://www.xendbit.com/

Whitepaper: https://www.xendbit.com/whitepaper.pdf

Telegram: https://t.me/joinchat/FM3F1BCTvtqF1KmjpBiyGA

Facebook: https://www.facebook.com/XendBit-1836013473152717/

Twitter: https://twitter.com/XendBit

Bounty: https://bitcointalk.org/index.php?topic=5049502.0

Author
nugezmils

BITCOINTALK PROFILE
https://bitcointalk.org/index.php?action=profile;u=1729621