XTRABYTES, also known as XBY for short, was started out by a group of investors who had a wanted to implement safe cryptocurrency transactions. It was started by Zoltan Szabo, as a result of a Bitmox scam, which Zoltan was a victim of.
Initially, he had a vision in mind and created a community for all the Bitmox scam victims by developing an algorithm to repairing the source code and rebuilding the node network.
XTRABYTES was introduced to the world through its marketing campaign which promised users safety, speed, and scalability. It is implemented to be a safe platform which would allow any dApps to be programmed in any language.
One of the most distinctive features about XTRABYTES is that it aims to make the whole platform a world of its own by applying the laws of decentralization. The algorithm creates a decentralized cryptocurrency of its own.
The dynamic structure of XTRABYTES lies in the team of developers behind it. Beside the founder of the community, there is a group of three developers who are constantly working on the XBY Blockchain.
Apart from that, a small team of developers is also incorporated to work on the front-end application of XTRABYTES called X-CITE which is designed for easy accessibility. The user interface and the User Experience is also heavily worked on by another group of developers to ensure that they both complement each other.
XBY is a whole new world besides being just a form of cryptocurrency. It comes with its own data storage. called X-VAULT; a decentralized messaging app for the XBY community, X-CHAT; and X-CHANGE which is also a decentralized platform for the exchange of cryptocurrencies.
XTRABYTES was initially introduced in late 2017 with a vision to provide safety in th exchange of cryptocurrency along with speed and scalability. The owner and founder of XTRABYTES, who is also known famously by his nickname Borzalom, was a victim of the infamous Bitmox scam.
Although it was a situation that discouraged the crypto community, Borzalom decided to fix the problem instead.
Apart from fixing the whole node network and the source code algorithm, XTRABYTES developed into a whole separate platform instead of just being a cryptocurrency.
In just a short time, XBY has garnered interest and support from the community and the crypto crowd as well. It has a huge following in their social media platform as well.
The Reddit account for XBY has 4000 active subscribers and has dedicated Facebook pages in 25 countries. According to the latest Red Coin news, its official website page for XTRABYTES is being translated in over 26 languages too.
It has been in the market for a little over a year, but it seems that people are slowly easing into the concept of welcoming a reliable form of cryptocurrency.
Like all cryptocurrencies, the implementation of XTRABYTES is simple enough since the whole concept of it is to provide accessibility and easy UI to the users.
First, a user has to download a virtual wallet from the official website. One can send and receive tokens from those wallet sections respectively. Transactions give the user a detailed account on the transaction history, and the address book will contain the wallet addresses with whom the user has performed any transactions and saved wallet addresses as well.
Proof of Signature is a more superior algorithm as compared to Proof of Work (PoW) or Proof of Stake (PoS). XTRABYTES has implemented Proof of Signature, and it is an improvement over PoW and PoS. Proof of Signature does not require a computing power that requires high energy to perform transactions.
Apart from the nodes divide among themselves to check the transaction blocks. The online nodes perform the first phase of the checking, and the offline nodes will double check the transaction blocks when the blocks come online again, and for the second practice, a signature is not required at all.
Pulse stands for Ping Unified Ledger Synchronized Equalizer. It is a signal that is used to complement the implementation of ‘Proof of Signature' when there is a transaction that needs to be performed.
PULSE alerts all the static nodes which prep the nodes to process the blocks as well as provides timestamps to all possible transactions. So, in a way, this implements the steady and organizational method of dealing with transactions Allong with Proof of Signature, it allows for a safe environment that is free from suspicious activities.
With the incorporation of the energy saving technique in Proof of Signature, it makes it a reliable and a relevant form of cryptocurrency.
The transactions that are performed are 20% faster as compared to other cryptocurrencies. It has to do with the fact that the nodes in the central algorithm were improvised to perform an organized way of performance by providing timestamps to each block.
A user has to convert the money into Bitcoin, Etherium or Litecoin in order to buy XBY. Once the conversion has been completed, a user can go to Coinbase. They can then create an account with a valid email and a password.
Once the user has access through Coinbase, a they can use cash from a debit card or a credit card to convert them into bitcoins, litecoins or ether. After that, a user can head to Cryptopia, Binance, coinFalcon, Bluetrade, YObit or any reliable websites that offer XTRABYTES in exchange for bitcoins, litecoins or ether.
After verifying their account, anyone can set up a 2FA account for more security. After doing that, a user is now ready to convert the Bitcoins to XTRABYTES.
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