Before getting started, I want to thank the XTRABYTES community for their patience during these past several weeks. I have recently met with the XTRABYTES managers and a few other key members of our team to define future developments and organize various details as we continue to move forward (including the patent).
On that note, I think it is crucial to reiterate the amazing job our teams are doing. The work happening behind the scenes on all levels, as well as on the front lines, is very encouraging and exciting. Several teams are being streamlined and plan to bring on more people are in the works (more below). Several new development teams will be created for various aspects of the XTRABYTES project and although we will not be ready to move on many fronts until after the patent applications are completed, I think that now is a very good time for anyone interested in helping to let it be known to our management staff.
To understand this, we also must look at our usage of XFUEL. To find the most up to date information regarding XFUEL, please visit our Knowledge Base article. In summary, XFUEL was created to fund the development of XTRABYTES. We cannot support the kind of team we require without paying people something for their time and efforts. People have bills to pay and even though they may be totally in love with what we are doing and want to be part of the project, a steady income stream for our team members remains a priority.
Today, we have a healthy development budget which grows as our price climbs over the long term. We are also able to pay our people fair salaries so that they are able to give the 110% that we wish to see from them.
Why is this important?
Because XTRABYTES is not just another coin. We are a platform with intentions to become an industry giant. Many of you may feel this is a pipe dream, but let’s take a look at why we feel this is where we are heading.
Centralized systems and blockchains are vulnerable to attack. XTRABYTES is establishing the technology to be far superior in this regard and prohibit those vulnerabilities.
We will not bother to post our “true” target tps speed, but we will let you know we are patenting our method for this also. We believe we will be the new benchmark that few if any other crypto companies will be able to reach until they develop a better method.
As most people know, our Distributed Command Module will allow all developers to attach their project directly to the XTRABYTES platform. This means we have the potential for quick growth with many of the projects already in existence and those yet to be created.
Economic & Eco Incentive
The XTRABYTES protocol does not depend on heavy mining thus reducing the power needs for the blockchain to function properly. This means users will save in the long-term for their computing power and will be responsible for a more eco-friendly solution.
This is being done to prevent the following: useless clones that result in people losing money to failed projects, improper/unethical use of our tech and most importantly for the long-term development of XTRABYTES, the prevention of developmental brains branching off to different projects that effectively reduces the overall quality of the tech.
In other words, we want to keep everyone on the same team and focused on the greater good of the technology being developed here at XTRABYTES. That technology is best described as a supercomputer on a distributed ledger.
Adding to these points, we would like to confirm that XTRABYTES Ltd. will be filing (4) patents. Further detail on the specifics cannot be shared at this moment but rest assured we will be posting that information as soon as we can.
By registering our patents we can begin sharing some of the code and technical details/information with our core developers so they can begin to contribute and take the massive load off the shoulders of Borzalom. Until that happens, we are absolutely obligated by our patent law firm to keep our tech secret. However, this does not mean that we can’t begin looking for those developers to join our team for when the tech is ready for collaborated development and completion. By pre-selecting developers (who have signed an NDA with XTRABYTES Ltd.) we will be accomplishing two things. First, it will establish relations with vetted developers that will be on the front lines of our tech, and secondly, it will position us to begin a more collaborative effort the minute we enter a patent pending status.
Development Team Expansion
As many of you know, Borzalom and I have always maintained our desire for privacy and our lack of desire to be the face of XTRABYTES. Neither of us is properly qualified or comfortable for the front facing role of CEO, to be on stage at events, to be on television/video for promotions and interviews, or to meet with other high-level corporate leaders for the various upcoming growth and partnership challenges we will face.
As such, I would like to formally announce that we will begin our search for the first CEO of XTRABYTES Ltd. This person will play a top management role for XTRABYTES, filling the aforementioned requirements, along with all other general duties of a CEO. As this role is of utmost importance, we do not have a date for when it has to be filled. We will begin the search and will keep the community updated as we close in on a final candidate.
After contacting the owner of C-CEX, CCRevolution was able to bring down the withdrawal fee from 50 XBY to 2 XBY. For anyone looking to withdraw XBY please know this has been improved and is ready to go.
One Year Anniversary
On a last note, April 7th will be the official anniversary of XTRABYTES (the day when C-CEX accepted our version of the XBY chain). I would like to state that we HOPE HOPE HOPE to have our patents registered by early-mid April. This is our target and we will do our best to meet this timeframe.
Thank you again for all the support thus far,