The world of cryptocurrency is expecting the first aggregator of its kind. Xronos, as it is called, started as a garage project two years ago and is based in Teplice, Czech Republic. It is the first aggregator of cryptocurrency and blockchain technologies. What this means is that the project aims to create a Stable Coin, a cryptocurrency constant in relation to fiat money.
The goal of Xronos is to create a stable and a decentralized crypto circulating medium for masses, which will quicken the fiat money transformation into cryptocurrency and will aid to move from an obsolete banking system to the new era of the world economy evolution.
According to the mission statement of Xronos:
“It is expected that, as a result of such development and evolution of this type of systems, all managing, bureaucratic, banking, educational, legislative and other sectors will stop maintaining their enormous staff, and the human factor requiring systematic approach will be fully substituted with decentralized software algorithm in the form of smart contracts. Basically, the blockchain technology can exclude all intermediates out of any human activity and activate a new mechanism of relationships - «Peer-to-peer». Potentially, implementation of this technology can cause a huge tension that will multiply differentiation in population due to imbalance in distribution of the resources. Today we can already notice a significant distortion. It is commonly known that just 1% of the planet’s population possesses 99% of the resources.”
What does it consist of?
There are three major components: its own Blockchain, Wallet app and XRSS software.
- Blockchain XRONOS has a very high speed of work, self-optimization functions and the linear scalable speed of the work.
- XRSS works on solely transparent rules based on fully open data, which allows predicting its behavior and being sure of the reliability of the system.
- XRONOS Wallet is different from traditional cryptocurrency wallets, as it does not require much space on the device.
All of these three components are fully ready and can be tested during a month-long Presale of the new crypto currency, which started on September 21 and runs until October 21.
Four stages of stabilization
For the dynamic growth of the user base at the start and further development, Xronos has a planned period of speculative growth, divided into 4 stages. Each of the stages involves the sale of additional XPO coins with a guaranteed increase in the price of the subsequent ones. This will allow gradually connecting, testing and expanding the functionality of the system without risks for its reliability, as well as smoothly increasing the capitalization of the new cryptocurrency.
The distinctiveness of the Presale and ICO project lies in the fact that only a part of the collected funds (20% from each stage) will go to the development of the cryptocurrency and its services, the remaining 80% will become the guarantor of the solvency of coins. This will ensure its liquidity, give guarantees on return of investments and reduce the risks of the first users of the system.
The transition to a stable exchange rate will be made after the issuance of 21 million XPO. According to today's calculations, its planned value is $21.53 for XPO, but in August 2018 it will be slightly adjusted.