Cryptonite (XCN) is the world’s first mini blockchain based crypto currency. Cryptonite (XCN) is the first ever implementation of the scheme of light weight mini blockchain. No user needs to spend days for the nodes to synchronise with the network. There is no fear for an average user to become a full node. This process is made possible because of the approach of decentralised balance sheet, which is an approach of Cryptonite.
Cryptonite is a combination of many great ideas. These great ideas are developed by the community of altcoins. It includes several novel features. These features are not found in any other crypto currency till now. The two novel ideas and features those help improving security and trust are Unmalleable transactions- transactions those do not use scripting, and exclude the signatures while hashing a transaction, and withdrawal limits- a limit set on addresses those dictate the maximum number of coins, withdrawable from an address.
Cryptonite (XCN) can be run on any of these platforms, which are Linux, Windows or Mac. Cryptonite maintains a better support for micro transactions as because Cryptonite need not bother about keeping any so called dust in the blockchain for ever. Blocks in Cryptonite blockchain can be larger because blockchain bloat is not a problem with Cryptonite blockchain. Cryptonite also encourages the use of custom transaction messages, just because of the same advantage of having no Cryptonite blockchain bloats.
Cryptonite achieves distribution of smart coin by adjusting the block reward and difficulty every block. Cryptonite has a very large supply of coins. So, it takes a fairly long period for mining to guarantee a fair distribution of smart coin. Half of the coins to be mined will need a period of 10 years. It will have a repeating half life of 10 years. It will take 10 years for halving the block reward and it will take 10 years mining half of all the coins. Cryptonite quickly adapts to different changes and is able to provide smoother transitions. The mechanism of Dynamic max block size- the mechanism idea to make the maximum block size a free floating value, guarantees the capacity of transactions of the network to grow over a period of time.
Cryptonite has been fully supported by native network for transactions with multi signatures. These multi signature transactions need a number of different parties to sign a transaction with different keys. It is not considered as valid without these signatures. Multi signature transactions have proved to be very useful in protection of consumers and escrow schemes.
Cryptonite’s potential is unparalleled for scalability and capacity of transaction. It is a crypto currency with a great future.
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