What Is XNN (Xenon)?
Let us explain:
Xenon is a project within the EOS open-source codebase realm that aims to provide an alternative blockchain. To avoid the risks that come with initial coin offering crowdfunding, and ensure a fair and wide distribution of tokens, Xenon has chosen to distribute tokens through an airdrop system.
Xenon Network (XNN) boasts itself as the world’s most advanced blockchain with the most widespread distribution of tokens. How does it work? And are these claims accurate?
Let’s dig deeper into the secret world of Xenon, the warrior crypto blockchain creat
What Is Xenon Network?
XNN or Xenon Network is an EOS-based blockchain used for enterprises. This blockchain is to be launched summer of 2018.
Back in September 2017, the company distributed the XNN tokens to over 400,000 Ethereum addresses, along with a similar event for Bitcoin token holders back in November.
Another 20 percent of tokens are to be distributed by using proof of individuality systems such as the KYC verification in order to encourage more widespread token sharing.
Xenon Network’s goal is to provide a huge distributed implementation of an alternative EOS project without any key limitations, which are common hurdles introduced recently in the U.S. and China.
By airdropping tokens as opposed to selling them through an ICO, Xenon plans to avoid common issues that could be experienced through the original EOS project.
Xenon plans to put as many tokens in the virtual wallets of cryptocurrency users as possible — all starting once the final 20 percent token distribution commences.
So, how do they plan to do this?
How Does the Xenon Network Work?
The Xenon Network plans to better the shortcomings of the overall EOS project.
The Xenon team believes that the EOS project holds the proper set of goals but is seriously lacking in specific features.
Cue: Xenon Network’s EOS alt-chain.
EOS swears to offer a highly thought-out, innovative, and enterprise-worthy blockchain. This blockchain idea is supported by a highly funded development team with a respectful track record in the field of blockchain development.
However, that being said, the XNN Network thinks the EOS comes with two huge shortcomings:
As mentioned earlier, Xenon Network plans to airdrop tokens for their EOS alt-chain.
These tokens will be airdropped based on the distribution structure. While 70 percent of all of the 1 billion tokens are planned to be airdropped, the full amount will be ready for use through the EOS alt-chain as soon as Xenon Network announces its launch.
Through this system and long-thought-out plan, Xenon Network plans to make themselves the primary EOS chain, dominating the scene at launch time. This will be based on its ability to create a stronger community, wider distribution, lowered regulatory risk (due to the lack of reliance with ICO), and more efficient developer engagement time.
The technical director at Xenon Network, Daniel Larimer, plans to meet the following goals with their airdrop distribution, to set off at the end of summer 2018:
As a team, Xenon believes this plan and its XNN token distribution will help create a better functioning blockchain environment for everyone to benefit from and enjoy.
Quick Facts on XNN
Now that you have an idea of what XNN provides and what the network’s plan is, it’s time to discuss the FAQs on XNN and the Xenon Network.
In this section, we go beyond Xenon Network’s alt-chain token airdrop distribution plan. If you like the idea of Xenon, what it’s offering in terms of alternative blockchain choice, and their token offers, we suggest you learn about the basics of Xenon and the XNN token.
We’re here to help with that.
How Do I Buy Xenon?
If you’re familiar with the cryptocurrency world, you probably know that most currencies aren’t able to be purchased with U.S. dollars. Most coins can be purchased through a system such as Coinbase. This allows you to use U.S. dollars to buy the cryptocurrency token of your choice.
Coinbase allows you to purchase Bitcoin, Bitcoin Cash, Litecoin, and Ethereum. Once you’ve purchased one of these coins, let’s say you purchase Bitcoin, bring it to an exchange such as Changelly or Binance where you can buy other currencies like Xenon.
How Can I Obtain an XNN Wallet?
Alright, so you need a Xenon wallet. As Xenon prefers going its own route, it’s also decided to produce its very own wallet software which is available on their website through a simple download.
This wallet then allows you to capture and keep XNN on your computer. For the most amount of security, you can store your currencies on a specific hardware wallet such as Ledger Nano S or a TREZOR wallet.
If you don’t want to buy a hardware wallet, you could also use a mobile-based wallet such as Coinomi or Jaxx.
What’s the Value of Xenon?
Before you start purchasing Xenon tokens, it’s important to understand their current value.
One XNN, as of now is worth $0.0 on all major exchanges for cryptocurrencies. You can also exchange a single Xenon for 0.00000042 Bitcoin(s) on all major exchanges.
The total value of all XNN tokens in U.S. dollars is $813,267.00.
According to recent data, XNN and possibly its market environment has been stuck in a downbeat cycle over the past year or so. Also, according to AI experts and analysts, predictions point to a negative trend in Xenon’s future and, therefore, the XNN is not considered to be a good investment for making money.
Due to the negative outlook on this currency, experts recommend looking for alternative projects for now if you’re wanting to build a portfolio. Xenon’s plan for the future of cryptocurrency and their alt-chain is admirable. However, for now, it’s not a good investment. Trading within bear markets is always more difficult so unless you’re a veteran, you’ll want to avoid this currency until it shoots up.
If you’re new to investing in crypto, you’ll want to make sure you’re constantly reading about optimal investment strategies.
Xenon Network: What We Think
The Xenon Network offers a lot of potential for the cryptocurrency industry and especially new, innovative thinkers who are looking to expand on and improve the blockchain system.
The question with Xenon is, are they biting off more than they can chew?
A native XNN token airdrop campaign, the launch of a new blockchain, and proof of individuality system in a short time frame may be a bit much. So, what’s the purpose of Xenon?
They're trying to also fix the way blockchain does things, by dodging some unfortunate mishaps that come with ICO systems. The Xenon cryptocurrency system, an isolated alternative blockchain, may do what they say and offer a way to avoid the regulatory issues that come with public offerings which are used more often than the EOS token.
Although the coin doesn’t look too promising at the moment, we suggest you stay tuned to see if the network’s airdrop campaign is successful in distributing the widest amount of tokens possible.
So, what do you think? After going over the bleak-looking stats that are currently available and taking into consideration the potential outcomes of Xenon’s masterplan, is there hope on the horizon?
Will Xenon change the face of cryptocurrency or at least offer a new and viable fork away from the sometimes problematic ICO route? The only way to know is by constantly keeping an eye out on reliable cryptocurrency screenings and statistical sites, follow your favorite crypto blog, and stay in the know to see whether or not Xenon makes it to their destination with time and a bit more effort, or if they sink to the bottom of the cryptocurrency pecking order.