Author: Crypto Kindness

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This article comes fromSevenUp DAO。

XEN Crypto, a social experiment that suddenly exploded in the encryption world, caused another gas war in Ethereum.

Behind XEN Crypto is Google employee Jack Kevin No. 21. He was a guest on the Crypto Kindness channel today and shared with the host the design concept and project vision of XEN Crypto.

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Why did you think of doing XEN

Crypto Kindness: How did you first get the idea to develop XEN?

Jack Levin：This is a very good question. For a while now I've been thinking about what cryptocurrencies have to do with money. I did some research and a lot of economists think money is the glue that holds our society together. And if you ask me that question, I might sayMoney is sort of like a ranking in a game, it measures your economic level and determines how you interact with the world.So I had the idea of ​​building a cryptocurrency based on first principles, not only first principles of encryption, but first principles of economics,That is, you can keep your property yourself, and your property belongs to you and only you.The blockchain has evolved to the point where this can be done, so what I'm trying to achieve isSpread this idea to people so they can understand how best to use blockchain to securely store their economic energyfirst level title

First principles of cryptocurrency

Crypto Kindness: You just talked about the first principles of cryptocurrency, can you elaborate on what that means?

Jck Levin：The first principles of cryptocurrency meanYou should have self-custody of your cryptocurrencies and no one else should have any access to your cryptocurrencies.That's the number one thing we really want to educate people about, know your passwords and keep them safe. The blockchain has been designed to be trustless, which means you don't need to trust anyone's word, assuming the blockchain verifies transactions, for example, if I send you some cryptocurrency, it will be recorded on the blockchain and it will Be anonymized because we can use wallets that are not tied to our real identities. But if I say hey, did you get my funds, you can say no, I didn't get them, but I'm going to check the transaction history on the blockchain to see if you're lying.

Another principle of encryption iscensorship resistance, although not as important as first principles, but also played a key role. You have the right to do whatever you want with your money and it should not be blocked in any way or form by third parties.

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Fair Token Launch

Crypto Kindness: You mentioned the word fair, a fair token launch where everyone has the same opportunity, what does that mean?

Jack Kevin：Speaking of which, let's look back at the history of cryptocurrencies. In 2010,Bitcoin is technically fair, because no one owns Bitcoin, and no one can create Bitcoin out of thin air. You have to pay for energy and time to produce Bitcoin.Although I would say that Satoshi and his friends did the experiment and they were mining before everyone else was mining, but that's fair because it has no value.And then the world finally gave it a value, so fairness comes from the fact that

In the past 10 years, most cryptocurrencies have launched new projects, but they are technically unfair, because someone can press a button and mint a trillion coins, or

Give yourself tokens, and then they try to sell them on the open market by promising some kind of work you know. They will make up various stories to give value to this token, for example, Shiba Inu. They issued maybe ten trillion tokens and sent half of them to V God's address. The organization that launched it is technically unfair because the process mimics the process by which a company goes public and sells shares, whereasThis happens to be the problem of centralized financial and economic control that Bitcoin and the blockchain seek to solve.

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Long-term goals of XEN

Crypto Kindness: What is the long-term goal of XEN?

Jack Kevin：I hope XEN can become the world'sDominant peer-to-peer cash, just like Bitcoin. Because the barrier to entry is so low. People can easily know from the record on the blockchain that I have no admin keys, nor any pre-minted tokens and tools to prevent the protocol from running, which makes them immediately more valuable than any coin or token. . It has been proven that people are willing to spend energy and time on mining operations. And about 96% of the people in the world have never really touched cryptocurrencies, so why not give them a cryptocurrency that they can experiment with and not lose money?

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Multi-chain launch and token value

Crypto Kindness: Why are you planning to launch XEN on multiple public chains?

Jack Kevin：Some people prefer BSC over Ethereum because of lower fees, others might like Solana. Assuming the code is the same code, then as long as it is correct in one place, it is correct in all places, in details and in principle, it doesn't matter which blockchain we run on, we just want more people can Access to fair tokens.

We strive to be inclusive rather than exclusive. Sometimes I hear suggestions that I make my own blockchain, which may be fine in some cases, but the reality is that it just makes XEN more exclusive and more centralized. What we want is that almost everyone can use XEN.

Crypto Kindness: In the first few years, XEN will basically be in a state of hyperinflation. When do you think it will have real value?

Jack Kevin：I think XEN can have value from day one.Actually the difference between zero and one is arguably infinite, so there will definitely be value.

Crypto Kindness: Do you expect the price of the XEN token to be consistent across chains?

Jack Kevin：I don't think so in the short term. Due to the different ecological conditions of each chain, I think the prices on different chains cannot be consistent. For example, the prices on Ethereum and Polygon may have a difference of 1 to 5 percentage points.

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Optimal Casting Strategy

Crypto Kindness: Let's talk about a question that everyone is interested in, what do you think is the best casting strategy?

Jack Kevin：Great question, no matter what you do, you definitely want it to get you the most bang for your buck.In XEN, days of function are critical.

We added a reward amplifier to the agreement, set it to 3000 at the beginning, as time goes by, you will find that it becomes smaller and smaller, after one year you may earn 20% less, after four years you You may earn half less, and you may not get anything after eight years. So I would say that the strategy chooses at the beginning the maximum number of days to be able to wait, which should be 100.As time goes by, you should choose as large a number of days as possible, as long as you can, 1000 days should also wait.

I know a lot of people hate reading white papers, so we simplified our presentation as much as possible and added a lot of diagrams to help understand. At the first 5,000 people, the maximum number of waiting days is 100. As the number exceeds 5,000, the limit on the number of waiting days will gradually be released.Original link

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