Project Ixian and its native currency IxiCash is causing a buzz around the web. With a platform enabling secure text, voice, streaming and monetary transactions on the blockchain, it’s a timely contender in the online communications space.
Recent years have seen frequent debates around people’s ability to exist and express themselves online. From censorship and data breaches to WhatsApp’s controversial new terms of service, trust is low for many of the big names in social media and streaming.
Ixian is a self-funded project which is five years in the making. It’s a platform enabling streaming and messaging services on the blockchain, along with the ability to trade and transfer funds in IxiCash — which is currently surging in value.
The Ixian platform is entirely decentralised, as it is maintained by nodes which users can set up themselves to earn rewards. This means there is no central point of failure, minimising the risk of downtime for apps built on the platform.
Meanwhile, user data is stored on users’ own devices, safe from central data breaches and intrusive governments. This focus on privacy and security puts Ixian in a great position to capitalise on the growing mistrust against traditional streaming and messaging platforms.
The rise of IxiCash
US and China residents were unable to purchase IxiCash without considerable workarounds as the token was only available on Vitex up until a few months ago.
However, the Ixian dev team has built a bridge from the ground up, to the ethereum network to allow wrapping of the Ixicash(IXI) token to be traded on UniSwap, a move which is predicted to boost its value even further.
Currently an ongoing liquidity drive has been started to allow trading in higher volume on the Uniswap Dex.
A new type of blockchain
Unable to find a blockchain that offered sufficient functionality, Ixian’s team set out in 2016 to build their own blockchain from scratch. There are two central parts to the project: Ixian DLT and Ixian S2.
Ixian DLT (Distributed Ledger Technology) is a blockchain which processes a high volume of micro transactions every second. It’s optimised to maintain high speeds while consuming a low amount of processing power, disk space and energy.
This efficiency is possible thanks to a new, consensus-based block acceptance algorithm. It mitigates some common concerns about blockchain technologies demanding significant computing power, and the cost and carbon footprint that comes with it.
Meanwhile, Ixian S2 is a decentralised streaming network built for text, voice and video. It enables secure communication between users along with the opportunity to trade and earn revenue. The system is highly scalable and able to cater for both indie app developers and bigger projects.
What the future holds
Currently, the best example of Ixian’s power is Spixi, a decentralised messaging app available on Google Play and App Store. It keeps each user’s data solely contained on their own mobile device, offering a degree of privacy lacking on many other platforms. The app also includes a wallet feature, allowing users to trade or transfer IxiCash within the app. Among other things, this opens up for content creators to offer direct communication and receive donations from their fans.
Ixians latest roadmap, which stretches into 2022. It includes upgrades to the DLT network, new functionality for streaming and monetization, as well as a host of new features for Spixi such as video calls and self-destructing chats.