Xtrabytes (XBY) will make bitcoin and ethereum obsolete
- Thread starter Donald J Trump
- Start date
TESTNET
Foreword
Last week, we released the Windows client for Testnet #3. The release proceeded after extensive effort to register all Level 1 STATIC test nodes was successful. As we moved to testing the network - specifically between the 5k to 10k blocks - we received feedback and a handful of useful bug reports from the community. Some of the errors found in the testnet included users noticing “Random Fee” or “Transaction Too High” errors. After thoroughly sifting through the code however, we concluded that these errors were being caused by wallet fragmentation.
Fortunately we now have a workaround (see Wallet Troubleshooting Below) for most of these errors and have decided to release a new wallet version for Windows, Mac, and Linux. The new wallet includes a cool new feature labeled Testnet Tools, which allows each of you to easily spam the network and push the limits of what the STATIC nodes can handle. For the upcoming 10k to 15k blocks, we have set specific dates and times to get as many people involved in spamming the network. Below are those times:
Coordinated Network Spamming Times
January 24, 2018 @ 9pm GMT +0
January 27, 2018 @ 9pm GMT +0
Newest Wallet Download (Mandatory)
Wallet Download
Wallet Troubleshooting
If for whatever reason you are having issues with your new testnet wallet, you may need to implement a defragmentation protocol in your wallet. It is a temporary fix that we are still resolving at this time.
How To Fix Wallet Fragmentation
Closing Statement
The Analytics from the testnet will be produced from the tests we will carry out on the upcoming 10k - 15k blocks. Once Testnet #3 is completed, the development team will then apply what they have learned and prepare for the next round of testing. Testnet #4 will include an updated client and several more components of the final XTRABYTES network. Users can expect a substantial improvement in network performance (meaning even faster transactions and confirmations).
SUPPORT CENTER
The Xtrabytes team is well aware of the lacking support strategies currently in place within the cryptosphere. For that reason we have spent the last month establishing an integrated Zendesk Support Center managed by our community moderators and technical support specialists. This agile team will be in charge of intaking various channels of communication (Facebook, Twitter, Youtube, Discord) and providing support where necessary. We have also set up an efficient ticketing system accessible via our newly designed Xtrabytes Support Center. Users can now read through our extensive FAQ and Guides covering topics from exporting XBY wallet.dat files to syncing your XFUEL when disconnected. It is our goal to put our users first and provide some of the best support out there! Take a look and see it for yourself by heading to:
XTRABYTES Support Center
XCITE
If you have not downloaded the XCITE app in our previous update here’s a chance to see it in action! Remember, what you are seeing is an early prototype and there is still work to be done.
XCITE Video
SOCIAL METRICS
Our marketing team has been hard at work in growing our brand equity. Just take a look at the stats for this month and you’ll see that the numbers don’t lie!
MARKETING INITIATIVES
With the community growth over the last few weeks we’ve decided to improve our current marketing strategy and shift towards an enterprise approach. This will allow us to better communicate across our departments and in turn create more efficient assets across the board.
Below are just a few of the initiatives we have planned for 2018:
RICH LIST
We were having a problem with the old rich list due to syncing issues so we decided to initiate a second explorer and relaunch the rich list. In the meantime here is a temporary link for you to use. We expect the new list to be active in approximately one to two days.
http://borzalom.hu/richlist.html
EXCHANGES & LISTING
Cryptopia has now fully updated and synchronized the XTRABYTES Wallet. Deposits are operational and the withdrawal fee is 1 XBY. In the rare event that anyone still has an unconfirmed transaction that was sent during the wallet update or synchronization process, please open up a support ticket with Cryptopia. Your funds are safe and need to be pushed through manually.
Nova Exchange is not closing. According to the news section of their website, they have "found a partner, a new main shareholder, willing and more importantly, able to carry on running Nova Exchange. We started negotiations and talks early in November last year, and now we can tell you the good news: The show will go on!"
XTRABYTES was added to the vote to be listed on KuCoin Exchange. In true community coin fashion, a donation took place so people without the funds could still vote for XBY. For more information, please go to the #community-voting channel in our Discord or see this Reddit post. We want to send a special thank you to the community members who donated funds and the Subreddit Moderators for organizing this initiative.
Next.Exchange is not yet open for trading, but aims to be the first socially decentralized, fully functional, and compliant DEX with features such as fiat trading, community trading, and mining pools. XTRABYTES is now on the list of coins planned to be integrated on the exchange.
C-Cex Exchange switched to “limited service” until January 20th. Our internal testing has shown that deposits and withdrawals are open, but they have not updated to the latest wallet version. C-CEX has been provided with all necessary information to update, and instructed to contact us if they need any further assistance. Please be aware that because this was a mandatory update, we cannot officially endorse trading there until they have completed it.
Foreword
Last week, we released the Windows client for Testnet #3. The release proceeded after extensive effort to register all Level 1 STATIC test nodes was successful. As we moved to testing the network - specifically between the 5k to 10k blocks - we received feedback and a handful of useful bug reports from the community. Some of the errors found in the testnet included users noticing “Random Fee” or “Transaction Too High” errors. After thoroughly sifting through the code however, we concluded that these errors were being caused by wallet fragmentation.
Fortunately we now have a workaround (see Wallet Troubleshooting Below) for most of these errors and have decided to release a new wallet version for Windows, Mac, and Linux. The new wallet includes a cool new feature labeled Testnet Tools, which allows each of you to easily spam the network and push the limits of what the STATIC nodes can handle. For the upcoming 10k to 15k blocks, we have set specific dates and times to get as many people involved in spamming the network. Below are those times:
Coordinated Network Spamming Times
January 24, 2018 @ 9pm GMT +0
January 27, 2018 @ 9pm GMT +0
Newest Wallet Download (Mandatory)
Wallet Download
Wallet Troubleshooting
If for whatever reason you are having issues with your new testnet wallet, you may need to implement a defragmentation protocol in your wallet. It is a temporary fix that we are still resolving at this time.
How To Fix Wallet Fragmentation
Closing Statement
The Analytics from the testnet will be produced from the tests we will carry out on the upcoming 10k - 15k blocks. Once Testnet #3 is completed, the development team will then apply what they have learned and prepare for the next round of testing. Testnet #4 will include an updated client and several more components of the final XTRABYTES network. Users can expect a substantial improvement in network performance (meaning even faster transactions and confirmations).
SUPPORT CENTER
The Xtrabytes team is well aware of the lacking support strategies currently in place within the cryptosphere. For that reason we have spent the last month establishing an integrated Zendesk Support Center managed by our community moderators and technical support specialists. This agile team will be in charge of intaking various channels of communication (Facebook, Twitter, Youtube, Discord) and providing support where necessary. We have also set up an efficient ticketing system accessible via our newly designed Xtrabytes Support Center. Users can now read through our extensive FAQ and Guides covering topics from exporting XBY wallet.dat files to syncing your XFUEL when disconnected. It is our goal to put our users first and provide some of the best support out there! Take a look and see it for yourself by heading to:
XTRABYTES Support Center
XCITE
If you have not downloaded the XCITE app in our previous update here’s a chance to see it in action! Remember, what you are seeing is an early prototype and there is still work to be done.
XCITE Video
SOCIAL METRICS
Our marketing team has been hard at work in growing our brand equity. Just take a look at the stats for this month and you’ll see that the numbers don’t lie!
MARKETING INITIATIVES
With the community growth over the last few weeks we’ve decided to improve our current marketing strategy and shift towards an enterprise approach. This will allow us to better communicate across our departments and in turn create more efficient assets across the board.
Below are just a few of the initiatives we have planned for 2018:
- Website Redesign
a. One that incorporates future use cases like XCITE, marketplace, and several other important functions we see being necessary
b. Integrating our Xtrabtes Support Center to centralize our ticketing feature.
c. Develop attractive UI and landing pages to improve our professional image
- Ad Spend
a. Strategizing for our upcoming Ad Spend across Google, Facebook & additional channels as we near the end of Q1
- Outreach / Integration
a. Working to build relationships with third-party platforms for real world integrations
RICH LIST
We were having a problem with the old rich list due to syncing issues so we decided to initiate a second explorer and relaunch the rich list. In the meantime here is a temporary link for you to use. We expect the new list to be active in approximately one to two days.
http://borzalom.hu/richlist.html
EXCHANGES & LISTING
Cryptopia has now fully updated and synchronized the XTRABYTES Wallet. Deposits are operational and the withdrawal fee is 1 XBY. In the rare event that anyone still has an unconfirmed transaction that was sent during the wallet update or synchronization process, please open up a support ticket with Cryptopia. Your funds are safe and need to be pushed through manually.
Nova Exchange is not closing. According to the news section of their website, they have "found a partner, a new main shareholder, willing and more importantly, able to carry on running Nova Exchange. We started negotiations and talks early in November last year, and now we can tell you the good news: The show will go on!"
XTRABYTES was added to the vote to be listed on KuCoin Exchange. In true community coin fashion, a donation took place so people without the funds could still vote for XBY. For more information, please go to the #community-voting channel in our Discord or see this Reddit post. We want to send a special thank you to the community members who donated funds and the Subreddit Moderators for organizing this initiative.
Next.Exchange is not yet open for trading, but aims to be the first socially decentralized, fully functional, and compliant DEX with features such as fiat trading, community trading, and mining pools. XTRABYTES is now on the list of coins planned to be integrated on the exchange.
C-Cex Exchange switched to “limited service” until January 20th. Our internal testing has shown that deposits and withdrawals are open, but they have not updated to the latest wallet version. C-CEX has been provided with all necessary information to update, and instructed to contact us if they need any further assistance. Please be aware that because this was a mandatory update, we cannot officially endorse trading there until they have completed it.
Important - Results from the Coordinated strike #1
January 24th - Results of first coordinated stress-test in testnet #3
XTRABYTES wants to thank all of the testnet #3 participants for their time and effort. We had a great time meeting many of you, chatting up a storm, and conducting a fantastic testnet. So let’s get right to the details!
Steps taken prior to testnet
An important distinction must be made between our results from January 24th’s coordinated strike and Testnet #2 conducted last year. But before moving forward, let us explain the two options our developers were faced with before commencing the event:
Use the sendmany() command for transactions
Use the tools provided in the testnet wallet for transactions
We wanted to stress-test our network, therefore the sendmany() command was not used. In short, sendmany() creates 1 transaction with however many addresses you insert as total outputs. This process was used in testnet #2. These outputs are still processed by the network as they deliver the specified amounts to the respective addresses, and are perceived as transactions in essence. However, this is effectively just a way to show high numbers without simulating a real-world environment. We have therefore opted to test using the tools instead. These numbers can unfortunately not be compared to testnet #2 as they are completely different. Therefore, we will use both the sendmany() and the tools on our next coordinated stress-test on Saturday, January 27th. Currently, there is a lot of confusion regarding these numbers and differences in transactions, and we hope to be able to give a clear insight on what the actual difference is in a separate article.
Details about the wallet & the old chain
Our current testnet wallet utilizes a lot of the Bitcoin clone code. This code is outdated with a lot of disadvantages, effectively not designed for high throughputs, as we have all witnessed. First, let us address a few basics:
For the testwallet, a PoW factor (mining) was still implemented to have a healthy supply of circulating XBY. Aside from that, the old code was always relying on Proof-of-Work (PoW), these code parts have been removed and have been replaced by the Proof-of-Signature (PoSign) code. This means that no mining or staking process is needed and nodes can sign off on the transactions. Further details will become available with the patent. We are held back by this old code because it has severe limitations, most importantly:
Block creation time: The block creation times in the old code are variable, with a minimum of 60 seconds per block. This value was implemented to prevent e.g. orphan blocks and chain splitting, acting as an additional security measurement.
The old code does not contain the core parts of the code, which are the VITALS and PULSE systems. This means that we are unable to ping the other nodes in the network to sign off on transactions, leading to slow block creations.
All transactions are stored in the wallet.dat file, causing a high amount of disk transactions and fragmentation of the wallet.
Results from testnet
The Bitcoin protocol runs at 2 - 7 transactions/second. By simply changing the code to run off the PoSign algorithm, we were able to increase these numbers to more than double, reaching more than 23 transactions/second, proving that the new algorithm is indeed more efficient than Bitcoin’s. This reassures us that the ability of the technology with all its components can indeed reach the desired tps figure of our marketed 10.000+ transactions/second. Remember that these numbers cannot be compared to our previous testnet, as we used different spamming tools. With this stress-test we have confirmed the limits of this old protocol, and it has provided us with more details to work with.
For our second coordinated strike, we will utilize both tools available, starting with a sendmany(). After finishing round one we will once again use the provided tools to check a more real-life environment.
Closing
Again, we want to send a massive thanks to the XTRABYTES community! We hope you (and your friends and family) will help
us again for our next coordinated testnet event on:
Saturday, January 27th @ 21:00 GMT+0
Best,
The XTRABYTES Team
TLDR :
In the testnet, some node holders were able to pull 12-15 tps, they had i7 core processor. Ones with lower processor were doing approx 6-8 tps.
There was wallet bloat issue where size of the wallet increases dramatically with transactions you do, so after some point the speed was slow than it was in the beginning of testnet.
Since dedpull was saying that if each node did 12 tps and there are 3592 nodes in total, we can easily do around 30k tps. Some with faster processor were doing 30 tps. If they use amazon AWS servers, then it can get even faster.
Points to be noted were, this is a old chain and can not keep up with the speed, the posign was tested successfully and proven in yesterday's test. Wait for results, and it will be a bit low coz some were doing 3 transactions per min due to their hardware and wallet bloat issue but they should be better than last testnet where we received 1k+ tps.
These were some inferences that I got from chats in discord. Pardon me if i misunderstood something
January 24th - Results of first coordinated stress-test in testnet #3
XTRABYTES wants to thank all of the testnet #3 participants for their time and effort. We had a great time meeting many of you, chatting up a storm, and conducting a fantastic testnet. So let’s get right to the details!
Steps taken prior to testnet
An important distinction must be made between our results from January 24th’s coordinated strike and Testnet #2 conducted last year. But before moving forward, let us explain the two options our developers were faced with before commencing the event:
Use the sendmany() command for transactions
Use the tools provided in the testnet wallet for transactions
We wanted to stress-test our network, therefore the sendmany() command was not used. In short, sendmany() creates 1 transaction with however many addresses you insert as total outputs. This process was used in testnet #2. These outputs are still processed by the network as they deliver the specified amounts to the respective addresses, and are perceived as transactions in essence. However, this is effectively just a way to show high numbers without simulating a real-world environment. We have therefore opted to test using the tools instead. These numbers can unfortunately not be compared to testnet #2 as they are completely different. Therefore, we will use both the sendmany() and the tools on our next coordinated stress-test on Saturday, January 27th. Currently, there is a lot of confusion regarding these numbers and differences in transactions, and we hope to be able to give a clear insight on what the actual difference is in a separate article.
Details about the wallet & the old chain
Our current testnet wallet utilizes a lot of the Bitcoin clone code. This code is outdated with a lot of disadvantages, effectively not designed for high throughputs, as we have all witnessed. First, let us address a few basics:
For the testwallet, a PoW factor (mining) was still implemented to have a healthy supply of circulating XBY. Aside from that, the old code was always relying on Proof-of-Work (PoW), these code parts have been removed and have been replaced by the Proof-of-Signature (PoSign) code. This means that no mining or staking process is needed and nodes can sign off on the transactions. Further details will become available with the patent. We are held back by this old code because it has severe limitations, most importantly:
Block creation time: The block creation times in the old code are variable, with a minimum of 60 seconds per block. This value was implemented to prevent e.g. orphan blocks and chain splitting, acting as an additional security measurement.
The old code does not contain the core parts of the code, which are the VITALS and PULSE systems. This means that we are unable to ping the other nodes in the network to sign off on transactions, leading to slow block creations.
All transactions are stored in the wallet.dat file, causing a high amount of disk transactions and fragmentation of the wallet.
Results from testnet
The Bitcoin protocol runs at 2 - 7 transactions/second. By simply changing the code to run off the PoSign algorithm, we were able to increase these numbers to more than double, reaching more than 23 transactions/second, proving that the new algorithm is indeed more efficient than Bitcoin’s. This reassures us that the ability of the technology with all its components can indeed reach the desired tps figure of our marketed 10.000+ transactions/second. Remember that these numbers cannot be compared to our previous testnet, as we used different spamming tools. With this stress-test we have confirmed the limits of this old protocol, and it has provided us with more details to work with.
For our second coordinated strike, we will utilize both tools available, starting with a sendmany(). After finishing round one we will once again use the provided tools to check a more real-life environment.
Closing
Again, we want to send a massive thanks to the XTRABYTES community! We hope you (and your friends and family) will help
us again for our next coordinated testnet event on:
Saturday, January 27th @ 21:00 GMT+0
Best,
The XTRABYTES Team
TLDR :
In the testnet, some node holders were able to pull 12-15 tps, they had i7 core processor. Ones with lower processor were doing approx 6-8 tps.
There was wallet bloat issue where size of the wallet increases dramatically with transactions you do, so after some point the speed was slow than it was in the beginning of testnet.
Since dedpull was saying that if each node did 12 tps and there are 3592 nodes in total, we can easily do around 30k tps. Some with faster processor were doing 30 tps. If they use amazon AWS servers, then it can get even faster.
Points to be noted were, this is a old chain and can not keep up with the speed, the posign was tested successfully and proven in yesterday's test. Wait for results, and it will be a bit low coz some were doing 3 transactions per min due to their hardware and wallet bloat issue but they should be better than last testnet where we received 1k+ tps.
These were some inferences that I got from chats in discord. Pardon me if i misunderstood something
Gonna cop alot more... 
In an effort to help the XTRABYTES community stay up to date with our patent process, we have decided to share our current progress with you all!
For those of you who feel we are not moving fast enough, we are happy to inform you that quality and protection are the top priorities, not speed. XTRABYTES is a long term project and we always have and always will ensure that we do what is best for the long term vision we have.
During the last several days, I have met our patent lawyers on 2 separate occasions. The first meeting was January 17th and was intended to evaluate the law firm, which also offered them the opportunity to evaluate us. The second meeting was on the 23rd, when the initial tech discussions took place and the retainer was paid.
The law firm (which we will not disclose) conducted initial research on the XTRABYTES project after our first meeting and during the second meeting revealed they are very happy to work with us on this patenting process.
We did not get into full disclosure during the second meeting but upon providing basic details, the law firm was extremely impressed and excited to be working with us. Future meetings will include both Borzalom and CCRevolution and will include finalizing all the information the law firm needs in order to complete the patenting process, which will lead us to the highly discussed "patent pending" status.
Please do not assume times and dates, nor is it practical to try to dictate how long this should be taking us. We always work within our available time frames and this also includes availability of the lawyers we are working with.
Thank you all for your dedication and please continue to help the new community members gain a full understanding of the great things we are doing here at XTRABYTES Ltd.
The XTRABYTES Team
For those of you who feel we are not moving fast enough, we are happy to inform you that quality and protection are the top priorities, not speed. XTRABYTES is a long term project and we always have and always will ensure that we do what is best for the long term vision we have.
During the last several days, I have met our patent lawyers on 2 separate occasions. The first meeting was January 17th and was intended to evaluate the law firm, which also offered them the opportunity to evaluate us. The second meeting was on the 23rd, when the initial tech discussions took place and the retainer was paid.
The law firm (which we will not disclose) conducted initial research on the XTRABYTES project after our first meeting and during the second meeting revealed they are very happy to work with us on this patenting process.
We did not get into full disclosure during the second meeting but upon providing basic details, the law firm was extremely impressed and excited to be working with us. Future meetings will include both Borzalom and CCRevolution and will include finalizing all the information the law firm needs in order to complete the patenting process, which will lead us to the highly discussed "patent pending" status.
Please do not assume times and dates, nor is it practical to try to dictate how long this should be taking us. We always work within our available time frames and this also includes availability of the lawyers we are working with.
Thank you all for your dedication and please continue to help the new community members gain a full understanding of the great things we are doing here at XTRABYTES Ltd.
The XTRABYTES Team
Prodigital
All Star
So I dived in on xby on strength of this thread, I didn’t go crazy with the buy but there’s a couple things I like about this alt that got me interested
- active development team
- cheap as fukk with low market cap
- relatively stable, no random pumps
- not listed on big exchanges yet so thatll be a jump
- low market cap with big circulating supply
All this and the technology is attempting to solve a major problem with crypto. Even ethereum is slow as hell now days. It makes sense that more mature technologies would be developed. Not saying this is a sure bet but if the devs really fall through on what they plan to do, there could be plenty of activity switching over to this platform.
I’m gonna watch it for a while, i think it’s still gonna keep dropping in price at the moment until a significant milestone is made in the tech. Also there’s just not much to lose at this price. If it doubles anytime soon I’m gonna dive in heavy.
Cheers brehs
- active development team
- cheap as fukk with low market cap
- relatively stable, no random pumps
- not listed on big exchanges yet so thatll be a jump
- low market cap with big circulating supply
All this and the technology is attempting to solve a major problem with crypto. Even ethereum is slow as hell now days. It makes sense that more mature technologies would be developed. Not saying this is a sure bet but if the devs really fall through on what they plan to do, there could be plenty of activity switching over to this platform.
I’m gonna watch it for a while, i think it’s still gonna keep dropping in price at the moment until a significant milestone is made in the tech. Also there’s just not much to lose at this price. If it doubles anytime soon I’m gonna dive in heavy.
Cheers brehs
you buy before it doubles breh
these prices will never be seen again when mainnet launches and the supply drops to 100 mil due to masternodes
Im looking to jump into the cryptocurrency game. I bought a hardware wallet already, just need to setup a software wallet to facilitate transfers between the xchange and the hardware wallet. Im a beginner in this arena but I love tech and catch on pretty quick. What would be the best exchanges to buy this and othet altcoins/bitcoins with the lowest fees that are safe?
I read something about segwit has lower fees over the other transfer protocol (name escapes me atm). I know the Ledger Nano S wallet I bought suppose to support that. Also what would the recommended route to go about cold storing coins that isnt supported by your hardware wallet?
Paper wallets are good for cold storage as long as you make more than one copy and have safe places to keep them.
Altcoin exchanges I would recommend are Bittrex and Binance.
Segwit only comes into play when sending or receiving bitcoins specifically for the most part. (There are other coins with segwit but not that many).
If you have a hw wallet already it really sounds like its time for you to start picking and researching coins you want to invest in. Youve done the hard work already
Altcoin exchanges I would recommend are Bittrex and Binance.
Segwit only comes into play when sending or receiving bitcoins specifically for the most part. (There are other coins with segwit but not that many).
If you have a hw wallet already it really sounds like its time for you to start picking and researching coins you want to invest in. Youve done the hard work already
What problem is that?
Prodigital
All Star
Transaction speed. The so called Zolt protocol is supposed to be insanely fast, but they don’t really have any proof out on it
So I got a lil over 2000 shares now. So school me where do y'all keep it? Right now it's on cryptopia. What do y'all suggest?
Also if this thing does blow up, how do y'all get the funds? What's the process with this crypto?
Also if this thing does blow up, how do y'all get the funds? What's the process with this crypto?
- All hail Borzalom
777: XTRABYTES’ February Q & A With Borzalom - XTRABYTES Today
The lead dev for XBY has spoken
My lambo license plates will say XBY HODL
Ps
DollarDestruction
Bought a couple hundred xby today, will buy 1000 at the beginning of next week (assuming price doesn’t change) then i’ll Buy another couple hundred at the end of the week.
- Goal is to hodl 175,000 xby before takeoff and own a master node