XMax | Build the Future with XMax

ansteadm (41)in #blockchain • 6 years ago

XMax

What is XMax?

XMax is an open-source blockchain platform that brings together the entertainment system onto an all-in-one set of tools, which enables users to take advantage of the SDKs, and APIs to build and distribute their DApps on the XMax ecosystem.

The Team

Before you look into the team members, there is something that you need to look into! Just a couple weeks ago, the Huobi-Hadax exchange, which is the main exchange in china, announced that XMax received the highest amount of "Super Voting Nodes" to be listed on their exchange in history. The previous record of 14, was crushed by XMax, who received a grand total of 20! Talk about an impressive feat for such a young organization. A "Super Voting Nodes" used to vote are pro investment institutions, which enables Huobi to list projects with low investment risk and ensuring a high-quality project.

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The XMax team definitely looks solid, but as they really start to expand, they definitely need to make it easier for investors to find the LinkedIn profiles for the team members. This will really make their project look more attractive when people start to look into their project. In their defense, this isn't their main focus at the moment. They're focused solely on development and creating the tools required for others to make the process of creating entertainment DApps even easier. They also aren't sharing a majority of the team on their site, or even public, because that is something fairly traditional for Chinese organizations. They want to focus on the project without receiving the "fame" along with it, something far different than in Western culture!

One thing I definitely like is seeing one of their early investors, and advisors is Roy Li. Mr. Li is the founder of Ruff Chain, who are building the infrastructure to connect simple smart devices that operate on the IoT to the blockchain.

The Platform

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The XMax platform has a few different layers, the first is where developers are able to distribute the DApps that they have built, and allow for anyone to use them. The second layer involves the main chain, and the forked side-chains. The third and final layer is the XMax blockchain OS.

XMax DApps

For many developers, it can be excruciatingly painful having to try to learn a completely new coding languages that allow you to create blockchain interfaces for your DApps. XMax is looking to solve this issue by implementing Javascript language into their SDK and API to make the entire process easy and streamlined.

It's awesome to see one of their DApps already functioning and available on the App Store to download. You can find it here! Unfortunately, this app looks to be only available in Mandarin, but I'll give you a quick rundown as to how it works. You're able to do live streaming through it and similar to how the sidechains work on XMax's platform where they are forked for scalability. In the app, by forking off from the main group, the smaller groups are able to be broadcasted directly from the main group. Talk about making live broadcasting easier!

It will definitely be interesting to get an idea of some of the other DApps that get released going forward as well.

XMax Service Chain

When thinking about this layer of XMax, the best visual example would be the your typical office man. They're typically the unsung heroes who do a majority of the work, but receive none of the credit. In this layer, XMax is able to communicate with third party blockchains like Bitcoin and Ethereum, while providing the tools necessary to build the DApps. As mentioned earlier, XMax is able to streamline the process of creating DApps by providing SDKs in simple coding language that the majority of developers are familiar with, known as Javascript. They basically created their own form of "Javascript" calling it "WebX.JS".

This will give you all another look at the "hardware" behind XMax

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The Blockchain Layer

The bottom layer of the XMax platform is their blockchain layer. Instead of functioning on a Proof of Work, similar to Bitcoin, or Monero, the blocks are completed through a DPoS algorithm (Delegated Proof of Stake). Other well known projects who use this similar tech are EOS, Steem, and among others. What makes the blockchain layer special for XMax is how their mainchain interoperates with the sidechain. For the different industries that XMax is looking to benefit, such as online gaming, messaging, and entertainment as a whole, XMax does not need to rely on the main chain to maintain operation. For these types of industries, the blockchain would get extremely bogged down with information, and by enabling the mainchain to fork into sidechains, while allowing them to interoperate, it creates a quality scalable solution.

One of the other aspects to point out, is XMax's blockchain is able to operate with with not only currencies, but also ERC721, which are non-fungible tokens- creating ownership for an item on the blockchain.

Roadmap

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For all that the team has accomplished while this project is still incredibly young, there is a lot to be completed going forward. For me personally, it will be extremely interesting to see if XMax and the team is able to launch the mainchain by September to allow for the different marketplaces on their platform. I think the biggest thing that will really benefit not only the XMax ecosystem, but also their community is to give additional incentive for developers to use their SDKs! They speak about this a little bit in the Whitepaper, but I think that having more concrete information about it would be beneficial for transparency.

The Token

The XMax ecosystem all revolves around their utility token, XMX. Right now, there is a circulating supply of 12,000,000,000 XMX tokens, with a total supply of 30B.

There are also solid incentives to using of the token on their platform

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For those who are selected as block producers, they are rewarded with a maximum of 5% of XMX tokens "for providing bandwidth, computing, capacity, and storage".