XEN crypto is a decentralized blockchain platform that rewards participants for minting tokens. Through self-custody, investors maintain full ownership of their tokens; unlike other projects that use proof-of-work or proof-of-stake mechanisms, XEN uses its unique Proof-of-Participation protocol in order to encourage community participation.
Anyone can join the XEN community simply by connecting their wallet to its smart contract. Joining is free, without needing mining equipment other than paying Ethereum’s gas fees.
XEN is a decentralized platform
On 9 October 2022, XEN made its debut and saw an immediate surge of investor enthusiasm for its unique design and staking function – quickly reaching an all-time high price of $3.68 later that day before falling back down quickly thereafter.
XEN stands apart from other cryptocurrencies in that there is no central database where user accounts and sensitive information is stored; rather, the website xen.network serves as a thin interface layer between you and Smart Contracts deployed on Blockchains. As such, XEN cannot gain access to User Wallet(s) or their private keys except through standardised APIs (call, sign transaction, send raw transaction etc).
XEN stands out from its competition in several key ways. One such feature is its free minting function, limiting maximum term of claim to 100 days and using logarithmic function to increase difficulty of minting new tokens.
It is a token
XEN is a token designed to address issues in the cryptocurrency market, including overbuying and whale accumulation. Utilizing a community-driven approach, it has attracted significant attention since its launch. However, due to the nature of cryptocurrency investments – where prices fluctuate quickly – price predictions must be taken with a grain of salt; you should never invest more money than you can afford to lose!
The XEN token is created via an Ethereum-compatible wallet and traded on NFT marketplaces such as OpenSea or Xen. Minting time is determined by a formula taking into account factors like crypto rank (cRank), waiting time T and time-dependent reward amplifier (AMP). At present, maximum minting term is 100 days but this may change with increased participation; users can select their own minting period depending on how much XEN they wish to earn.
It is an ERC-20 token
Xen is an ERC-20 token that incorporates the tokenomics of Bitcoin. Built upon blockchain’s core principles, it promotes decentralization, transparency and peer-to-peer exchange without counterparty risk. Furthermore, its proof-of-participation cryptocurrency features free minting of tokens by users while maintaining ownership over them.
Joining the Xen crypto community is simple and requires no special software or hardware – simply connect an Ethereum compatible wallet to its smart contract and begin minting XEN for free! Your participation and wallet balance will determine rewards you earn; once the minting period has concluded, cash out any time.
Long-term predictions show that while XEN may experience short-term price gains, long-term predictions indicate it will decline due to its use of a “proof of burn” mechanism where tokens are converted to NFTs for burning purposes – effectively cutting into production of Ethereum and rendering its coin deflationary.
It is a utility token
XEN is an exciting utility token that has quickly gained considerable traction since its recent launch. Utilizing a Proof of Participation mining mechanism and featuring no supply cap, minters will see increasing returns over time as more people join and participate in minting XEN tokens.
XEN differs from other cryptos by not requiring large amounts of computing power to mine and has a decentralized structure with users owning their coins themselves, serving as self-custodians. Furthermore, this coin doesn’t utilize mining pools and encourages its users to open as many wallets as they desire.
While XEN may seem like an attractive cryptocurrency investment opportunity, it’s wise to do your own due diligence prior to investing. Crypto markets can be volatile and price forecasts often prove inaccurate for long-term investments. Always conduct independent research using technical and fundamental analysis before making a financial commitment and only invest what you can afford to lose.
