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The aim of cryptocurrencies (and blockchain more generally) is to decentralize ownership and power so that coin holders, nodes, and users have control rather than entrenched, centralized entities. The blockchain movement, to a large extent, is a populist reaction to a global history rife with exploitation of centralized control by small groups serving their own self-interest.

In the modern tech world, the introduction of the high-speed, global internet has enabled email, social media, and mobile applications to transform the way we communicate and exchange value. However, mainstream companies that have become dominant during this transformation have proven unwilling or unable to protect user privacy, and instead, they have opted for maximizing profits based on advertising.

xx network is implementing blockchain technology and encryption which obscures metadata to offer a truly private, decentralized messaging and payment platform. This means that with xx network technology, there is no way for any third party — including governments, tech companies, or even the network itself — to see information about the sender or recipient(s) of communications or payments. Plus, the xx network will operate seamlessly, so that users can send messages and payments just as quickly as they can with any traditional network.

The xx network launched its mainnet on November 16, 2021 with 1 billion xx coins created at genesis. For the first 5-6 years, the xx network is deflationary with a small percentage of coins automatically burned at regular intervals in the on-chain treasury. The xx network will eventually become inflationary with a maximum annual inflation rate of 6.5% which will be distributed via block rewards to all coin holders who stake on active nodes.

Of the original 1 billion xx coins, less than 5% were in circulation at genesis. The coins allocated to the xx network developers and xx Foundation vest over 3 years starting at genesis. Over 90% of the xx network coin holders voluntarily locked their coins into 6-12 month vesting schedules starting at genesis and are staking those coins for rewards.

The xx network team is proud to be truly global, with collaborative and remote offices around the world. The primary development team is headquartered in the Cayman Islands along with a significant presence in Los Angeles, CA.

David Chaum, cryptocurrency pioneer, proudly leads the development effort at xx labs and has spearheaded the development of its privacy-centered tech since 2016.

David Chaum is one of the earliest blockchain researchers and a world-renowned cryptographer and privacy advocate. Chaum first proposed a solution for protecting metadata with mix-cascade networks in 1979. In 1982, his dissertation at the University of California, Berkeley became the first known proposal of a blockchain protocol. Chaum went on to develop eCash, the first digital currency, and has also made numerous contributions to secure voting technology. Today, Chaum leads the xx network, which combines his decades of research and contributions in the field of cryptography and privacy to deliver state-of-the-art blockchain solutions. To learn more about David Chaum, visit www.chaum.com.