What is Xenon (XNN) Crypto Beginner’s Guide
Xenon purports itself to be the most advanced blockchain offering the widest token distribution. It is forked from the EOS blockchain and offers some solutions to token circulation. Xenon has taken many of the positive aspects of the EOS blockchain and advanced them, hoping to continue to build off it to create an alternative blockchain.
Xenon (XNN) Features
The EOS blockchain is innovative in of itself, offering features like low transaction fees. It is well-funded and well supported with a solid development foundation, and EOS has a goal to pursue the widespread distribution of currency as well as the encouragement of a community around the blockchain. The goal of this kind of distribution model is to reach more people in a more equal manner to get more individuals involved with the future of the platform.
The Xenon creators, however, feel that their blockchain, which was forked from the EOS blockchain, will prove to be more a superior alternative. Xenon will offer many more features that advance its blockchain and make it far more appealing to users. For example, Xenon will participate in airdrop distribution to users of the Ethereum and Bitcoin networks, including developers to incentivize them into developing for the Xenon platform.
21 parties who commit to being nodes for the Xenon platform at its launch will also be rewarded with tokens, and it will not launch an ICO, instead employing mining or airdrop which they believe will present far better liquidity.
Xenon (XNN) Airdrop Distribution
Over 1 billion of the Xenon token, XNN, have been created. 70% of all created tokens will be airdropped while the remaining percentage will be held for promotion, bounty, advertising, and other miscellaneous needs. Within that 70%, Xenon has a roadmap of where their tokens will be airdropped and for what purpose.
A certain percentage of XNN will be airdropped to Ethereum addresses which will likely prove to be about 450,000 addresses. This will happen during times when the network is not being used in order to avoid oversaturating the blockchain. More XNN tokens will be airdropped to developers. Xenon hopes by rewarding developers with XNN, it will draw them to the Xenon network to encourage participation and development of the network. The last of the XNN will be rewarded to potential “block producers” to incentivize the involvement of well-maintained and qualified nodes.
Xenon (XNN) Risks
Since the blockchain that Xenon is based on is still in development itself, the perks and features it may offer in comparison to other blockchains aren’t tested or guaranteed. Of course, Xenon also runs this risk as a new blockchain, and nothing in the cryptocurrency market is assured. While many blockchains succeed, many more fail and are forgotten.
Xenon is certainly offering a unique model, and perhaps its method of distribution may prove to encourage the use and development of the blockchain in the way it is envisioned. It also may not work out. Hopefully, Xenon will be able to succeed by offering a useful and reliable blockchain alternative.