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Dialogue X Protocol: Exploring the ecological possibilities of the meta-universe

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X Protocol's first Dapp X Predict Market has been launched in the metasverse.

At 4pm on November 10th, X stands for unknown and infinite, and most of us face the "metasomes" and the future with such confusion or incomprehensiveness.

Jessie Chua, CHIEF Marketing Officer of X Protocol, held an online chat with users to discuss how X Protocol will interpret the future of the metasomes, her vision for the future of the Metasomes, and the advantages of X Protocol in the metasomes.

X Protocol builds an app-based metauniverse ecosystem backed by PolkaDot and Solana Web3.0 ecosystems and developed in RUST. In X Protocol, large and small blocks will be constructed and various facilities will be built in the blocks. Players will be able to explore the X Protocol meta-universe from a first-person perspective.

The following is a transcript of the online conversation

BlockBeats: Tell me a little about yourself. How did you get involved in blockchain?

Jessie Chua:Everybody is good! I'm Jessie from X Protocol. I previously worked in the banking and financial technology industries. This summer I was introduced to the concept of the metasurverse, and I thought it was a trend in the tech world, so I chose to join the X Protocol as CMO.

Two-thirds of X Protocol's team members are developers. The rest of the partners work in operations and marketing.

BlockBeats: X Protocol is a cross-chain Protocol based on Polkadot.

Jessie Chua:X Protocol is developed with RUST language as its core, centered around the ecology of Boca and Solana, and includes both the Protocol layer and the application layer of the metaverse project. The seed flow can be obtained through self-developed DApp in the meta-universe, and the technical solutions for third-party DApp to access the meta-universe with zero threshold can be provided to enrich the project ecology in the later stage.

Boca and Solana are currently the most technologically mature, community-active and ecologically rich of the metasurtical tracks.

BlockBeats: As a cross-chain Protocol, users are most concerned about the cross-chain security of assets. How does X Protocol solve the security problem?

Jessie Chua:First of all, our team is the 10th team in the world to complete all milestone development tasks, and the second team in the world to complete all milestone development tasks at one time. In addition, in order to deal with the problem that audit institutions could not audit RUST code, the team took the initiative to launch a GLOBAL SRC attack invitational competition with a prize of $500,000. It lasted for a month, and the core of the cross-chain bridge and other business cores of the project were not found any vulnerabilities by White Hat. The team's technical strength was sufficient to deal with various problems.

BlockBeats: Can you introduce the three technical features of X Protocol: MMR, OWS and Relayer excitation model of bridge miner?

Jessie Chua:X Protocol uses MMR to validate any historical block versus the latest block, with the advantages of low storage, on-demand, and low cost.

Merkle Mountain Range (MMR). MMR is a data structure that improves the efficiency of block validation. It fulfills the promise of the block header, which contains the root value calculated by the MMR of all previous blocks in the history chain. MMR is a variant of Merkle Tree. This allows the X protocol to validate any historical headers by recognizing the latest headers. Therefore, it can greatly reduce the network burden and improve verification efficiency compared to the traditional Merkle Tree blockchain.

The Optimistic Whistleblower System (OWS). The X Protocol lightweight client makes it possible for the latest block to be validated by any historical block through the MMR. To determine the correctness of the latest block, X Protocol incentivizes Repeaters to move blocks, while keeping Repeaters restricted to each other through an optimistic snitch system. Repeaters need to bet tokens to qualify as miners, and malicious behavior will result in them being reported and losing some of the tokens they bet on.

The X Protocol Cross Chain Bridge has Bridge Miner miners who can submit their observed bulk to the Light Client and then receive enough financial rewards to ensure that the data in the Light Client is correct.

BlockBeats: What are the advantages of X Protocol over cross-chain projects like Cosmos and Polkadot?

Jessie Chua:X Protocol takes Protocol as the core, builds its own ecosystem, and uses the form of meta-universe to make the ecosystem three-dimensional and truly build a chain world. The biggest advantage of X Protocol is that we can visualize data through the meta-universe, so that users can truly reach the blockchain world.

Moreover, compared with other pioneering Metaverse worlds, X Protocol makes DAPP first and then puts the DAPP with conference users into the Metaverse as the infrastructure, so X-Metaverse naturally has more active users than other Metaverse worlds. At the same time, X-Metaverse also supports other public chain DApps to join through interface migration, so both ecology and users can snowball.

BlockBeats: Can you introduce X Protocol's Token POT economic model?

Jessie Chua:POT will be used as the only governance Token for X Protocol and X Metaverse. For example, a user can use $POT to become a governance node.

Ecosystem development: 15% of total circulation; For marketing, partnerships and exchange listings. It will be unlocked linearly for 3 years and once every 3 months.

Teams and consultants: 10% of total circulation. Lock after TGE for 6 months, then linear unlock for 3 years, once a month.

Liquidity pool: 20% of total liquidity for Uniswap and other exchanges, unlocked linearly over three years.

Ore pool: 35% of total flux. Used for network excitation after the main network is started.

Financing: 20% of total outstanding amount. Unlock according to investment terms.

BlockBeats: X Protocol is also developing in the direction of the metaverse, using DApp drainage to create its own metaverse. What is X Protocol's vision for the metaverse?

Jessie Chua:The meta-universe is an immersive virtual world close to reality and an open network world in the future. This straddling of the physical and digital worlds is a natural fit for blockchain technology. Because digital objects, content, and intellectual property can flow through the metasexes, blockchain technology can flourish not only with user data, but also by allowing users and companies to create content and goods. What's more, blockchain technology can also create a fully functioning economic system in the meta-universe that is connected to the real world.

Therefore, we decided to build a metasexes based on blockchain-based protocols, and the X protocol metasexes were born.

BlockBeats: Can you explain the ecology already on X Protocol? Including prediction markets, DeFi, NFT, social, and more.

Jessie Chua:Currently, X Protocol is the first Dapp X Predict Market is online in the metasverse.

X Predict Market is a decentralized, cross-chain prediction platform that automates Market making through a new fixed product Market maker (FPMM). Users can earn governance rewards by creating forecasts, participating in forecasts, successfully forecasting, and providing liquidity. By anchoring a certain amount of $POT, users can qualify for governance nodes, participate in community governance voting and other important activities.

At present, 11,000 + access addresses have been accumulated under the mechanism of no wool pulling, and the daily income of at least 50K +USDT can be achieved by maintaining the current activity after the main network goes online. Twitter 27.2K followers, telegram group 39577 people, active and positive community communication.

In the future, we will also launch first-party NFT market and DeFi products.

BlockBeats: What other ecological projects are you inclined to develop in the X Protocol ecosystem?

Jessie Chua:Currently, we have cross-chain Bridges, predictive markets, NFT, DeFi, social platforms as business scenarios. At the same time, we will actively develop commercial applications, achieve sustainable cash flow, and establish an open app ecosystem to expand more commercial applications.

BlockBeats: What are your immediate plans for X Protocol?

Jessie Chua:A few days ago we held IDO in DuckDAO, FLY, Dao Starter three platforms received warm attention from the community.

DuckDAO has 484 seats and received more than 1,400 whitelisted registrations, not counting the number of applications before the review.

FLY's target quota was 50,00U, and it received 398,991 USDT, which was nearly 800% oversubscribed. The Dao Stater platform's 200 seats were sold out in one minute. This result is not bad, everyone is very enthusiastic.

We have tentatively scheduled a joint debut in MEXC and Gate. Now there is our new campaign here, you can pay attention to it!