Currently, maintaining Bitcoin requires enough energy to supply a small European state. Also, if BTC was to be classified as a country, it would rank 61st in terms of its energy needs (0.13% of global power consumption as of December 2017). What makes Bitcoin so power hungry is the PoW (Proof-of-Work) algorithm in which transactions are being confirmed by “miners” in a process called hashing. More transactions require more hashing power and it is predicted that if BTC maintains the trend, by the end of 2018 it is going to consume energy equivalent to that of the United States.
So, what is XtraBytes and why is it revolutionary? It’s a new modular blockchain platform offering scalability and unprecedent security (SHA-512) resistant to quantum technology lurking behind the corner. It is also based on Proof-of-Signature (PoSign) algorithm rendering mining practically obsolete. XtraBytes will be operating under a system of nodes that sole responsibility will be authenticating transactions. Each and every alteration to the blockchain has to be approved by all of the nodes and those consistently trying to sign invalid portions of the code would be immediately blacklisted from the network. This technology is already successfully utilized by other big players in crypto world such as DASH or IOTA. What differentiates XtraBytes here is that XBY is not going to be just another Security Coin but a fully-fledged platform with unlimited possibilities of application. It will also allow integration of any known coding language removing limitations of other projects built upon a single hermetic code (Ethereum, Waves). Another strong selling point of XBY is practically an instant confirmation of transactions with technology capable of reaching up to 10,000 transactions per second leaving recently hyped Ripple (1,500 tps) far behind. On top of that, the developers also claim that the system is completely resistant to 51% attack preventing any forks in the future.
Why is XtraBytes then such a great 2018 buy opportunity? A third static node test (testnet) will be held within the next couple days. Also, the developers are claiming to be under the process of patenting part of the code after which it will be opened to the public. It is difficult to find another promising project like that with such a low total supply of coins at the price of $0.5. Furthermore, it is not known by many that right after a successful 3rd testnet, a final rollout of the mainnet wil take place with all nodes actively locking up 80% of the tokens. This means that the circulating supply will drastically drop to approximately 120 million tokens, practically instantly increasing the price 5 to 10 times. If the project proves to be successful it is possible to gain a fiftyfold increase in price by the end of 2018.
The project is currently in an advanced stage of development and it’s one of the last moments to jump on the rocket taking XtraBytes to the Moon. The price has already increased by 500% just in December and it seems that nothing can stop XBY from reaching top 10 in next couple months. Very reserved predictions estimate that XBY upon successful release can almost immediately skyrocket to 10$ per token and reach higher values as the project matures.