GenesisX ($XGS)

Current price: 1725 Satoshi

Circulating supply: 5,600,000

Max supply: 19,000,000

Market cap: $335,000

Exchanges: CryptoBridge, Tradeogre, Finexbox

Type: PoS, Masternodes

ICO: None

Main Features: Privacy coin using Zerocoin protocol, transparent budgeting system connected to governance, unique MN holder reward system and GenesisX secure storage system.

PURPOSE

The primary purpose of this project is to increase users’ security by the integration of two factor authentication (2FA) to the blockchain and by improving upon the privacy centered Zerocoin protocol. In addition, they are dedicated to transparency and fair governance.

INTRODUCING $XGS: A project dedicated to privacy and transparency.

One thing stands out about XGS immediately, and that is that in spite of being dedicated to privacy, unlike many other such projects most of their team have chosen to forego anonymity in the spirit of transparency. It says a lot about what drives this project. It shows that this team has studied the current environment and noted that in order to gain the trust of a community that has been consistently preyed upon by scammers it will be necessary to be very open about what’s going on in the background. Many of their objectives speak to this very issue.

To decrease scamming and hacking, they plan to integrate 2FA into a blockchain backed file storage platform. To help with privacy, they will work to improve upon the existing Zerocoin protocol which is used by many other PIVX forks. For transparency they have dedicated themselves to opening up their budget documents for community viewing which includes information about how their pre-mine and pre-sale funds are spent on continuing project improvement. XGS also uses Masternode governance which allows the community to be actively engaged in and vote on project development.

Recently the project announced that they are in development for their own exchange, GenXchange, for which they are creating a new coin, BitcoinGenX as the native coin for the exchange. This coin will be airdropped to holders of XGS, details to be announced in the future. This is slated for Q2 2019. Another future development on the recently released updated roadmap is the GenesisX Shield Platform which will be another use case for the XGS coin. This will be a platform for the team to review other Masternode coin projects against a specific set of standards to give an additional level of safety for those who may be interested in investing in these projects.

FEATURES

This project has so many features it’s almost hard to decide what to write about first. Being a PoS/Masternode coin already is a plus due to the passive income which has been a saving grace of many projects during this extended bear market. They have also integrated resistance to both 51% attacks and Quantum attacks into their code. As if that wasn’t enough, this team has dedicated themselves to building a quality multi-faceted project with many working parts that integrate their native XGS coin. Their dedication to privacy and transparency is evident in everything they do. Before I get into the individual features I also want to point out that their newest roadmap indicates they will be signing up for KYD Q1 2019 as that is an important additional step towards transparency.

GenesisX SPS. is a secure cloud storage platform that is currently in beta testing with holders of XGS Masternodes. As with other cloud storage solutions, this platform allows for convenient storage of files that can be accessed via the internet. The difference here is twofold. One, it has more security features than a normal cloud storage system, including the use of 2FA, passwords, and encryption, two, it has a feature that allows a user to sell or buy files using the native XGS coin. Masternode holders will be rewarded with a split of 50% of the revenue the project receives from this platform.

Currently in development for GenesisX project is GenXchange; as you can guess, this is a cryptocurrency exchange (slated for Q2 2019). This exchange will utilize another coin in development, BGX, the BitcoinGenX coin. This new coin represents a unique opportunity for XGS holders. This low supply (5M) coin will be airdropped to holders of XGS who wish to participate via a claim form and snapshot. The new coin will also be a masternode coin with a 1,000 collateral. The new coin will also have another use case called the SHIELD platform, details to be released in the future.

EXCLUSIVE INTERVIEW WITH CHRIS, MARKETING GURU OF PROJECT GenesisX:

Caribro interviewed Chris (Chockblain) to learn more about his background and the project.

How did you get involved with cryptocurrency?

Through word of mouth from friends and family. The concept was foreign to me at the time but I had a keen interest in investing so was willing to give it a shot. I had a friend set me up with my first BTC wallet and he deposited my first $100 worth in November 2017 and I watched it grow over the coming weeks so I started depositing my own BTC into the wallet and started trading during the bull run.

How did you get involved with the GenesisX project?

After being an active community member in GenesisX and having a keen motivation to help others in the community by answering some questions that they had showed GenesisX that I was willing to work for the project. Tom needed help with marketing and asked if I was interested in joining the team. From that point on I was able to do marketing and support for the project and it slowly become more of a senior role in the project through continuing to provide the community and team with direction and information they needed to get their questions answered.

Have you ever had a bad experience in crypto that made you realize the importance of safety and transparency in a cryptocurrency project?

I haven’t had any personal experience with that kind of cryptocurrency issues. Starting out in cryptocurrency the way I did I was quite fortunate to not fall victim to any hacks but that’s not to say they don’t exist. Being a part of a solution to a very real problem for many drives me to help create a safe, functional system that protects it’s users. Cloud storage is heavily used and it’s biggest downfall is it security so far which is where we chime in.

Do you think privacy will be important going forward?

“I see privacy as a way to prevent signaling concerns from encompassing all of our activity, and creating spheres where we are free to optimize for our own happiness and just our own happiness, and not what other people think about us.” — Vitalik Buterin

Privacy features definitely have their place in the world of economics and in business whereby it should be up to the discretion of the person to share as much information about themselves as they are happy to release. With that transparency is still possible even with privacy by sharing all information that is needed to execute a sale on our SPS Platform for example. That way the person buying can make an informed decision about whether they feel safe enough to make that trade with the information the seller has provided. So i believe it is as important to have privacy as it is to create more flexibility in others providing a product on our platform.

What updates are coming up with your project in the next couple of months?

Referring to our roadmap and current goals our main focus at this point is the airdrop for $BGX for $XGS holders. Being critical on our path to creating the ecosystem we like getting it off the ground and rewarding those who have invested in XGS in the long-term which creates a good relationship between us and our investors. With the SPS V1.0 due in Q1 next year it will be good to see our product being used to its full capabilities. Partnerships are also weighing in with regards to both XGS and BGX to form strong alliances and good services for each project to use is a main aim of ours.

My final question is what is it about your project that makes you the most excited?

The one thing that gets me most excited about GenesisX is it’s honesty and transparency. In the bear market it is not always easy to keep investors happy however our communication about who we are and what we are doing is the cornerstone of how I view cryptocurrencies should move forward. We have a product already out in beta release at the moment and have real use cases for it. The cloud storage market alone is huge. Looking forward to getting out there with a largely reliable and functionally safe platform that companies and individuals can rely on.


OPPORTUNITY

With GenesisX, you get opportunity times two. Not only do you have one coin with a real working product and use cases, but you will also have the opportunity to receive an airdrop of the newly created BGX as well, a low supply native currency of the new GenXchange. This project ticks all the boxes one should look for when DYOR, an experienced team dedicated to security and transparency, already on CoinMarketCap, listed on exchanges, real marketing, and even passive income via masternodes.


Researched by Brownmoose | https://twitter.com/br0wnmoose

Design by Analyser | https://twitter.com/Analyserxx

You can find the author of this article at https://medium.com/@pattonwriter