As we move forward into the year it is important to understand which technologies, communities, and blockchain(s) will separate themselves from the rest.
Instead of a “one chain rule” however XSN believes the future will instead be the formation of a global backend — a 4th generation blockchain mesh consisting of every chain technology, and service created thus far.
- A united network of different tech from different chains fully communicating as one entity executing synchronously.
- A future where one powers software to run their vehicle, buys groceries, or signs contracts instantly using different chains will be amongst us, constantly evolving to fit users needs on the fly.
How do we get there?
A requirement and first step towards a chain participating in this cross chain “meta-network” will be the ability to autonomously swap fluidly back and forth between assets in a trustless instant manner. Transforming our chain first into a multi-currency wallet being able to hold, send and receive balances will provide a solid foundation, allowing smooth transitions into cross chain capabilities .
The most obvious starting point of functionality thereafter is enabling onto our chain what is called a DECENTRALIZED EXCHANGE (or DEX).
(note: Woooowww... They are planning to create a fully decentralized exchange!!!!)
In 1991 James Cameron directed and released a film about an artificial intelligence that became self-aware and fought against humanity. The infamous antagonist “T-1000” would download data and morph into objects it came across and observed — the movie was a hit partly because it was quite conceivable to be reality amongst critics and technologists alike. There is no reason networks shouldn’t be able to have this same ability — to fluidly download and replicate any and all peer networks which it connects. We are seeing the beginnings of this meta-connection now with emerging off chain technologies (lightning, raiden etc). Combined with the use of second layers we will also be able to run nodes while providing full functionality, liquidity, and communications between all.
Cross chain nodes are coming and XSN will be first in line to lead this newly disruptive technology.
Detailed below are a few key upgrades XSN-Core is working on to achieve their goals.
1. XSN Multi-Currency Wallet (Q3).
Allowing our network to hold databases and run full nodes of multiple chains we will be able to securely send, receive, and confirm transactions on separate chains from our own. 3rd party chains will be held on our second layer which will communicate with first layer nodes allowing our users to hold multiple wallets in one place
2. MN Watchtowers (Q3).
As of now the underlying technology powering swaps would require what are called “watchtowers” — entities that need to be relied on, holding multi chains, watching and punishing any bad actors involved in cross chain communications. Watchtowers are an important job and a backbone of this cross chain ecosystem — our XSN masternode network is aiming to be amongst the first decentralized watchtower network providing services not just for our own chain but others could plug into our network and securely, and safely rely on it — allowing groundwork for trustless cross chain swaps and trustless cross chain communication to occur as well.
3. MN Lightning channels (Q3).
There will be requirements for XSN masternodes to have light channels open totaling a minimum of X amount of XSN per IP. As we expect ~2000 masternodes to be online this will give our network a robust backbone to provide instant, private transactions to occur and liquidity on our lightning network.
4. DEX update (DHT) Q3.
XSN masternodes will hold decentralized hashing tables or DHT’s which will be the precursor in allowing our network to be also used as a DEX, holding and executing buy/ sell orders as a service. All required tech can be done in house on the XSN chain while accepting XSN as a fee powering these services.
5. Autonomous swaps executed by MN quorums (Q4).
Once Zeus is in place we will begin programming our second layer to trustlessly handle cross chain light swaps utilizing MN quorums. As of now a human or merchant is needed to convert your TPoS stakes into a new currency, with Merlin this will be autonomously done by the network with no human needed. By integrating TPoS staking into our MN network users will trustlessly stake and autonomously swap rewards to new chains and deposit them into our XSN multi currency wallet.
6. On Chain Scaling Solutions (Sharding) Q4.
XSN is actively researching scaling solutions, in particular how to incorporate sharding to raise tx throughput. As we believe there will be sufficient throughput allowed by the off chain lightning network to accomplish many of our goals, we are not overlooking the benefits that on chain scaling/ DAPPS will provide. We plan on implementing on chain scaling Q4 2018.
7. Privacy (Q3-Q4).
Utilizing Lightning Network and I2p protocols we will be able to give our users the option when converting wealth to do so publicly or privately in real time. These can also be combined with emerging tech such as bulletproofs and zkSNARKs.
8. Cold Exchanging from hardware devices (Q4).
As cold staking XSN from the Ledger Nano-S is underway, the next step will be executing cold storage exchanging. Allowing users to execute trades and convert assets with complete security provided by hardware wallets.
9. Auto Updates (Q3).
Due to the rapid rate of technological advancement soft/ hard forks are a natural part of any emerging network. We will incorporate an optional auto update system for our users that allow core team to update nodes automatically. This way our investors can passively run nodes without having to constantly concern themselves with mandatory upgrades during initial periods of rapid network development.
You can enjoy the great write up by John Draper, XSN director operations