XTRABYTES recently announced that it is registering as an Ltd. In addition, the company has decided to issue 1 million shares of company stock. While investors may second-guess this move, it was taken in order to protect the financial interests of the community. In particular, the need to protect XBY’s new and innovative technology. Crypto projects that derive from the open source community are highly vulnerable to being forked. Moreover, entities may very well patent such technology and seek make it their own. While simply registering as a company does not protect crypto technology from being forked, its a necessary step during the patent process. .
The community can be further protected by equitably distributing company shares. As was recently stated, STATIC node owners will likely be given the first opportunity to buy shares. And while the share structure has yet to be disclosed, a community coin such as XTRABYTES may take pains to prevent any one person or entity from gaining controlling interest. By doing so, they keep the technology safe from third party interference and enable the project to further flourish.
Of course, distributing company shares will impact how the XTRABYTES project is governed in unforeseen ways as well. While its tempting to endlessly speculate how, we do know that active shareholders are often keen to exercise their voting power. Indeed, as the project evolves, shareholders are expected to play a vital role in shaping the future direction of XTRABYTES. While such shares have yet to be distributed, many investors view this investment opportunity as another means to keep the community involved.
As we await further announcements, investors can rest easy that XTRABYTES developers will not waiver from a community-oriented progression. They recognize that the interests and financial security of the active community comes first and foremost over everything else.
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We don’t just publish articles, XTRABYTES is a whole new blockchain platform that allows DApps to be programmed in any language, utilizing a new consensus algorithm called Proof of Signature. In doing so, XTRABYTES presents a next – generation blockchain solution capable of providing a diverse set of capabilities to the general public.