The idea of creating a business blockchain, efficient and specifically dedicated to corporate solutions such as identity verification of people, is a reality in development thanks to projects such as EOS and Xenon. On this last one we will briefly talk here.
Xenon, an alternative bifurcated blockchain of the EOS project, avoids some of the regulatory challenges facing tokens derived from public offerings while having a wider distribution than the EOS token with ICO crowdfunding.
But to be able to understand a little better, we need to explain in advance what the EOS project is about. The EOS project initially promises an innovative high-performance blockchain capable of hosting enterprise-level applications at low transaction rates. It is being developed by the block.one company who has a proven development team with a track record of accomplishing ambitious projects in this area.
The vision is to have an alternate EOS chain as an alternate block chain, distributed over the next 9 months as an ERC20 token, becoming tokens in an alternate EOS chain at the time of its launch, scheduled for July 2018.
It is worth mentioning that the EOS project has declared that they will not participate in the launching of a network, but only in the production of open source. The responsibility for the release of the blockchain rests in the community. The objective is to be the main and dominant chain at the time of launch due to a wider distribution, a stronger community and a better commitment of the developers, as well as a lower regulatory risk by avoiding an initial currency offer.
The online ecosphere of today suffers continually from its inability to say who is a genuine and unique human, and who is not. The proposed mechanisms for a fairer individuality test involve simultaneous videoconferencing parts based on http://www.brynosaurus.com/log/2007/0327-PseudonymParties.pdf in which the participants verify the identities of others in a single point in time to identify individuality. EOS has a web-based implementation for this and that involves the Ethereum blockchain. The proposed model will consist of simultaneous monthly videoconference events in which single people with tokens will be rewarded.
Xenon Network believes that the above factors present an opportunity for an alternative block chain to be launched simultaneously from the open source base EOS with properties that make it superior to the originally planned EOS blockchain. Its two main arguments for this are: 1.- the distribution of Airdrop to the participants in the Ethereum and Bitcoin networks, as well as through other channels, which guarantees a generalized distribution of the tokens. They believe that this can raise the profile of the blockchain and increase community participation. 2.- Absence of an initial offer of currencies, reducing the regulatory risk associated with this form of capital increase. Coins and tokens distributed through mechanisms such as mining or airdrop may therefore have a greater liquidity compared to products launched through ICO.
The Xenon project involves the creation of 1,000,000,000 XNN tokens – the project’s native token – of the ERC20 modality. 70% of these will be launched from the air.
Notwithstanding the foregoing, it must be borne in mind that, on the one hand, the EOS project itself is still in the process of being developed, and many of its advantages over preexisting blockchains remain purely theoretical. Although the EOS software is being developed as an open source project under the MIT License, developers, block.one company or EOS token holders can take steps to prevent forged chains from becoming viable, and this could affect Xenon Network.
It is anticipated that the Xenon blockchain will be launched in July / August 2018. For more details you can check your White paper.