XenBitcoin

Overview

XenBitcoin (XBTC) is a cryptocurrency that emerged from the XEN ecosystem, attempting to create a Bitcoin-like token on the Ethereum blockchain. It follows a similar first principles approach as XEN Crypto, emphasizing fair launch and equal opportunity mining through proof-of-work mechanisms.

Purpose and Utility

The stated purpose of XBTC is to create a minable token on Ethereum that combines Bitcoin's mining principles with Ethereum's smart contract capabilities. Users can mine XBTC through a proof-of-work system that requires computational power, similar to Bitcoin mining.

Business Model

XBTC's business model revolves around proof-of-work mining and trading. The project claims to have no pre-mine, no founder allocation, and no ICO, aiming for fair distribution through mining. The mining mechanism appears transparent and operates on open-source smart contracts.

Real-World Adoption

While still in its early stages, XBTC has gained some traction within the crypto mining community. The project maintains active development and community engagement through various social media channels and mining pools.

Token Distribution

XBTC follows a fair launch model with no pre-mine or founder allocation. All tokens are distributed through mining, which aligns with principles of equitable distribution. There are no vesting periods or lock-up agreements since there was no initial token allocation to founders or early investors.