Several questions have revolved around the XTRABYTES™ project since its inception in April of 2017. However, two of the most significant queries relate to its use case and development. For instance, XTRABYTES™ technology offers decentralized services as a unique use case, one that allows users to access data on a variety of different types of databases (both centralized and decentralized). We provide the reader with an update about decentralized services in the XTRABYTES development section below.
We briefly discuss decentralized databases below – since many industries today are beginning to realize the benefits of using a decentralized database to store and manage data.
In the XTRABYTES development section, we list the percentage completed for each ongoing project. We’re sure that you’ll be excited about what we are revealing. So continue reading until it eventually sinks in.
The Significance of Decentralized Databases
Among decentralized databases, blockchain technology is perhaps the most popular – a type of distributed database typically associated with cryptocurrencies. However, a decentralized database could be something other than a blockchain. A decentralized database is a type of database that is available on computers across the globe.
As the name suggests, a database can serve as a sort of home for data. What kind of data? All types of data – whether it be cryptocurrencies, smart contracts, or selfie photos. In short, a database is where all data is either processed or stored.
Why data remains critically important
We provided some reasons below as to why you should consider data to be as valuable as your favorite cryptocurrency or token. With this in mind, the XTRABYTES™ team seeks to ensure that all people understand the importance of data integrity and data security.
Storing data in a secure and efficient decentralized database system can considerably improve the quality of life. It enables various organizations to analyze, measure, and use data for continuous improvement. For instance, easily accessible and secure data can help an organization analyze the economy – and resolve any economic challenge before it becomes a crisis. By ensuring data integrity, decentralized databases enable organizations to confidently meet their data-driven problems head-on.
In particular, these organizations rely on credible data to compare and identify the most effective solutions and strategies. By doing so, they’re able to improve their operational capabilities and competitive performance. It is why establishing benchmarks and goals remain a critical element for measuring organizational success. With access to credible data, organizations can better analyze past performance for the sake of improvement.
Accordingly, securing credible data is critical for remaining competitive in today’s marketplace. However, preserving data integrity and security fulfills only part of XTRABYTES™ larger plan of decentralizing network access, network communication, and network operations. We will reveal more in the future.
Why placing data on the blockchain remains problematic
Most blockchain projects that exist on Coinmarketcap primarily focus on economics. Thus, blockchain data is frequently limited to the concept of cryptocurrencies, p2p payments, and smart contracts. Unfortunately, this limited focus neglects the fact that other significant use cases exist as well. After all, data encapsulates a lot of things (e.g., cryptocurrencies, smart contracts, documents, videos, and more). Consequently, distributed databases would do well to incorporate a structure that separates data integrity protection, data storage, and data validation.
Since most blockchain projects fail to see this kind of problem, modern industries remain ambivalent about whether they should use blockchain or not. Data can either remain private or be made public. As most organizations handle both data transaction types, they frequently require a blockchain network that can enable both data transaction types. And that is where XTRABYTES™ enters the scene.
Only the tip of the iceberg
XTRABYTES™ provides a network structure that separates the processes of data integrity protection, data storage, and data validation. As such, it provides organizations with the capability to decide whether data should be made public or private. This feature opens up the network to organizations and industries that cannot reveal their data publicly but still desire the ‘trustless’ characteristics of a typical blockchain.
By separating data processes, our decentralized network can provide superior data transaction speed, scalability, and security to other blockchain networks. Also, our PoSign™ technology and networking protocol will establish a higher benchmark for cybersecurity. Consequently, we expect websites, servers, blockchains, and other databases that use our network to be immune from attack.
Another pertinent feature of our network is its resiliency. For instance, even if 75% or more of the XTRABYTES network goes down, the industries and organizations that use our technology will still be able to access their data sources. As a result, their downtime will practically become zero.
Although these revolutionary features are what make XTRABYTES™ unique, they’re merely the tip of the iceberg. What will amaze you the most are the exciting developments going on behind the scenes.
Where are we at with XTRABYTES development?
This question is perhaps the most frequent query among community members. That’s because the XTRABYTES™ project is heavily inclined toward new technological concepts rather than merely another use case for peer-to-peer payments. As such, we’re very excited to provide you with a few up-to-date details about XTRABYTES development. We will drop the information below for you to ponder.
The STATIC Network
- Decentralized node database: 90%
Yes, you read it right – XTRABYTES’ decentralized database is now 90 percent complete! We will continue working very hard to complete a decentralized database that can operate all registered nodes. It will enable the XTRABYTES network to verify whether a node is still working or not. This component plays a crucial role in our network’s node regulation process since it serves as the primary source of information for protocols that monitor both access and connection for the nodes.
- Interim Network Communication Protocol (rabbitMQ): 75%
Now 75% complete, the interim network communication protocol will temporarily substitute our custom network protocol (which is still ongoing development) to regulate connections between nodes. This protocol is based on rabbitMQ – an opensource messages broker protocol.
- Coin transaction service: 80%
Allow me to abbreviate this as CTXNS™ (Coin Transaction Service). Since we’re creating something new, we should proceed in a creative yet reasonable manner. Already 80 percent complete, CTXNS™ is offered by our nodes as a service to clients. It enables clients to create and sign transactions without needing a local copy of the blockchain. Although Coin Transaction Service is currently in use with the XCITE™ client, it still needs to be transferred to a 3-level network if its to perform to full capacity.
- UTXO database: 75%
The UTXO (Unspent Transaction Output) database will enable our STATIC nodes to provide the data required to create transactions for any existing address. Although a local wallet keeps track of the UTXO’s for its own addresses, the UTXO database keeps track of the unspent output of all the addresses in the network.
- Market value provider: 70%
This service provides real-time coin price and trading volume information for all coins traded on an exchange. Thus, an investor can quickly view the value of their coins with a simple request. We expect this service to provide information about $XBY and $XFUEL initially, with more cryptocurrencies being added in the future.
- Key-value storage service: 80%
The key-value storage service is based on a Redis-cluster (which allows data to be automatically ‘sharded’ across multiple nodes). This service enables users to store data in a decentralized database. Each data package links to a reference (key) that can be used to retrieve the data from a decentralized database (which is very helpful since it’s a sort of read-and-append database). Not incidentally, this service is the earliest version of X-VAULT v0.1.
- Message board: 75%
Our message board is the simplest and earliest form of X-CHAT v0.1. Users will be able to publicly post a message on the board for everyone online to see. As such, we view it as a decentralized type of a ‘Trollbox.’
- API Endpoints: 50%
By using API endpoints, users and developers can connect to the XTRABYTES network and utilize its capabilities for their own software applications. Not incidentally, developers can also create a demo to test and review these capabilities. At present, XTRABYTES developers are midway through completing all API-related project tasks (having already documented all API endpoints). In addition, they’re also creating samples of code for these endpoints.
Other XTRABYTES development
We’re not yet done! The next paragraph will surely help you connect the dots as to what kind of trailblazing technology we are currently working on. So keep reading.
As soon as all the features mentioned above are fully operational, we will then transfer from PoSign lite to full PoSign™. Once completed, we can start focusing all our energy on implementing our new chain technology and custom network communication protocol. We’re providing you with brief information about these new tech components below:
- The new networking communication protocol
This new networking communication protocol is a patentable technology designed to significantly increase connection and transfer speeds, as well as network security and stability. It notably challenges existing concepts of network connections and communication. Using this new approach, we intend to ameliorate the way current network types connect and communicate with each other.
- The new chain technology
Once we fully implement PoSign™, our new (patentable) chain technology will enable an extremely high rate of customizable/conditional data transactions to occur -the process whereby users can have full discretion over their data, reverse a missent data transaction, and more. Nevertheless, the new chain technology can add conditions to any data transaction, and can also link various data types in the network. We’re dubbing this as “smart contract 2.0.”
- PoSign™ (Full)
As another patent-pending technology, PoSign™ will offer data integrity protection beyond cryptocurrency transactions. We will make it operational as soon as we complete work on the features previously mentioned, particularly the 3-level STATIC network.
- STATIC network
The STATIC network will decentralize network access and service resources. As such, it offers industries, organizations, businesses, and governments protection against network attacks. It is also designed to protect service resources from bad actors. Our 3-level network can be completed once our decentralized node database and networking protocol are fully operational.
And there you have it! A summary of what we’re currently working on in terms of development. One of XTRABYTES™ short term goals is to bring together exceptional minds who are willing to help us build a new and highly efficient decentralized network. As such, we’re still hiring mid to senior-level developers to help us speed up XTRABYTES development and solve real-world challenges. If you have those skills, we invite you to become a part of the XTRABYTES development team. Our campaign seeks to not only conquer crypto but the entire data industry as well.