What is the difference between ``coin`` and ``token``?
Coin is basically a digital currency like Bitcoin, Litecoin, Monero, and Dash, which are described as a value of money and medium of exchange and can be traded as such. Coins have their own blockchain and support their own currency.
Tokens are virtual assets or tradable commodities. Think: loyalty points, certificates, in-game rewards.
Which blockchain protocol is XIF using?
The protocol is a fork of the bitcoin protocol with heavy modifications to achieve substantially higher speed and reliability. The cryptography adopted is an elliptic curve algorithm, where finding a base point in a discrete logarithm curve is infeasible. Each new node is approved by the network and the network ensures high performance of each node. Network traffic is segregated to various sub sections of the network to ensure optimal performance, which is also known as sharding. Each transaction on the network is verified by multiple nodes, and transmitted across the relevant shard groups for redundancy, also known as multi signing. Due to the nature of an approved network, the Proof of Stake algorithm is adopted, both for efficiency and future public interoperability. We have combined all of these components to create an ultra-fast, resilient and reliable network on which our customers can build world class applications.
Which blockchain protocol is XIF using?
The criteria for a cryptocurrency to be listed on CoinMarketCap are as follows:
(i) Must be a cryptocurrency or a crypto token.
(ii) Must be on a public exchange with an API that reports the last traded price and the last 24 hour trading volume.(iii) Must have a non-zero trading volume on at least one supported exchange so that a price can be determined.
(iv) For market cap ranking, an accurate circulating supply figure is required.
The XIF management endeavors to list XIF on a reputable cryptocurrency exchange after the conclusion of the ICO as soon as is strategically practicable.
We cannot comment on exchanges at the moment. The XIF management endeavours to list XIF on a reputable cryptocurrency exchange after the conclusion of the ICO as soon as is strategically practicable, and has already commenced speaking to various reputable exchanges.
What will XIF do with unsold coins?
Unsold coins will be locked for 12 months and 10% of total unsold coins will be unlocked in each quarter and released to the public, subject to business requirements.
Will XIF ICO include a roadshow? If yes, where can investors find XIF’s roadshow schedule?
We have completed the following roadshows as of 20th June 2018 and will be releasing announcements on our subsequent roadshows on our official community platforms.
Singapore: 23rd May 2018
Penang, Malaysia: 2nd June 2018
Sydney, Australia: 12th and 13th June 2018
Melbourne, Australia: 14th and 15th June 2018
Are you taking precautionary measures to ensure that potential scammers will not be able to mislead token purchasers into sending funds to the wrong address?
The XIF team has put in place SSL certificates on the official website (https://www.xinfinity.io). Users are encouraged to check the webpage security and download the XIF wallet app from the links provided on the official webpage. XIF coins can only be purchased through the XIF wallet app, and no funds should be sent to any other addresses.
Users are reminded to exercise caution when
dealing with monetary deposits and transfers.
Is XIF SEC-compliant?
XIF’s ICO will be launched in Singapore and therefore does not fall under the purview of SEC which only governs US-based ICOs.
What will happen if XIF does not reach the soft cap?
XIF has already raised over US$8M in the pre-ICO sales. There are sufficient funds to complete Phase 1 of XIF’s roadmap, and XIF will work towards generating revenue, and then using the revenue generated to drive business and technological growth.
What is the KYC process?
KYC or “Know Your Customer” is the process of verifying the identity of the investor in XIF i.e. in our case, we will be asking for the national ID and residential address of each token purchaser.
What is the minimum requirement for investments during the pre-sale?
Please check the XIF website for the conditions on each round.
Why is the purchase price fixed at 1ETH = 6000 XIF?
The purchase price is fixed based on a combination of various factors, including total token supply and the current prices of BTC and ETH.
When will the price be adjusted again?
Price will be adjusted when BTC/ETH fluctuates by a margin of more than 15%.
What can be done if I have forgotten my E-wallet login username & password?
A password recovery option is available as long as you have access to your phone and email.
How secure is the E-wallet?
The E-wallet is secured by multi factor authentication, by way of accessing our secure APIs. We also enforce various forms of identity protection to ensure that your data and your privacy is highly protected.
How can XIF achieve a transaction speed of 1 second, while Bitcoin takes an average of 78 mins?
We have made vast improvements to the technology of the standard Bitcoin protocol. We have built an algorithm that is called “Balanced Sharding”, whereby data is distributed across a data tree in a balanced fashion, and then separated into large data trunks to allow for fast data retrieval; at the same time, data is overlapped to ensure reliability and resilience.
I have deposited ETH which is reflected in my wallet, why can't I purchase XIF coins immediately?
As ETH’s and BTC’s networks are slow, it will take time for the funds to arrive, be verified and become available for use. This can take up to 2 hours so we suggest that customers log in again after this time to check.
I just bought XIF coins, why is the balance not showing?
As ETH’s and BTC’s networks are slow, it will take time for the funds to arrive, be verified and become available for use. This can take up to 2 hours so we suggest that customers log in again after this time to check. XIF coins will be issued as soon as the transaction is verified.
Are there risks involved in purchasing XIF coins?
As with any token purchase, there is always risk. Please refer to our disclaimer on our Whitepaper:
XIF makes no representation, warranty or undertaking that the information provided in this White Paper is current, accurate and complete.
This White Paper has been prepared for information purposes only and is not a statement of future intent. XIF disclaims all liability for any loss or damage of whatsoever kind (whether foreseeable or not) which may arise from any person acting or relying on any information or opinion relating to XIF or the XIF token ecosystem contained in this White Paper or any information which is made available in connection with any further enquiries, notwithstanding any negligence, default or lack of care.
Where can XIF coins be used?
(i) In the long term, as the XIF wallet and merchant app (to be developed) becomes widely used, it is envisaged that XIF coins will be useable in retail outlets, both online and offline. Upon the completion of the ICO, XIF management will seek to bring onboard more merchants.
(ii) With the launch of the XIF debit card, XIF coins will be useable at more than 200 million points of
sales globally and the XIF debit card will also allow for ATM cash withdrawals internationally.