Business Wire

xx network Announces Support of Early Backers of xx coin Sale

Share

The xx network has announced support of crypto pioneers, including Chris Larsen, for the initial Cayman sale of the xx coin starting on January 23, 2020.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200120005068/en/

xx network photo (Photo: Business Wire)

xx network photo (Photo: Business Wire)

The xx coin is a quantum secure digital currency designed to support and incentivize the decentralized ecosystem of the xx network, the revolutionary privacy-protecting blockchain led by David Chaum, founder of the Elixxir and Praxxis projects which underpin the xx network.

Chris Larsen, a serial entrepreneur, co-founder of the Ripple Network and longtime advocate for consumer privacy, said, "David Chaum has been a defender of privacy in the digital world for almost forty years. I am proud to be an early backer and look forward to seeing this consumer-facing blockchain open the door to secure use by millions of individuals in their daily lives."

Ownership and control of the xx network will be widely distributed to people all over the world with no private venture backing. Larsen and two other crypto pioneers will own approximately 2.5% of the coins. Additional support from Alpha node operators and other service providers will total around 0.1% of the coins. As a reward for their early backing and assistance, these coins were sold to initial backers at a 20% discount from the $0.35 public sale price.

“We are delighted to see support from all over the world for the xx coin public sale, including investors at all levels,” said David Chaum. “I’m particularly honored that savvy pioneers have backed the project.”

Initial distribution of the coin will be via an ERC-1404 smart contract to non-U.S. persons. By xx network MainNet, the smart contracts are planned to convert to official xx coins on the xx network, possibly via an intermediary smart contract.

Any and all the details of the xx network public sale will be announced through the xx-coin.io website and should be the sole source of information. No other sources of information should be relied upon. Any offer of coins or the equivalent is not open to U.S. persons.

About David Chaum:

David Chaum is widely known for inventing the first digital currency, e-Cash, in the early 1980s, which he later deployed in the 1990s at his company DigiCash. He has also recently been credited with proposing the first decentralized blockchain as his PhD dissertation at Berkeley in 1982.

About xx network:

The xx coin is a digital currency that will support decentralized messaging, payments, and dApps on the xx network. The xx network was designed in response to growing public concern for user privacy as well as the emerging threat of quantum computing. The Elixxir cMix layer provides groundbreaking privacy and security by shredding user metadata. Praxxis provides a denominated coin structure that breaks payments into individual coins to provide privacy, and a distinctive consensus protocol using hash-based cryptography, which is secure against attacks from current nation-state adversaries and future quantum computers.

xx coins are not being offered to any U.S. persons as such term is used in the Securities Act of 1933.

Contact information

Wachsman
Layla Tabatabaie
elixxir@wachsman.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Verimatrix and Qt Company Join Forces at Embedded World 2020 to Showcase IoT Shielding21.2.2020 19:35:00 EETPress release

Verimatrix, (Paris:VMX), formerly known as Inside Secure, a global provider of innovative, customer-friendly cybersecurity solutions that protect video content, endpoint devices, software and applications, today announced its 2nd annual collaboration at Embedded World with The Qt Company (Nasdaq Helsinki: QTCOM), a global software company with the leading independent technology behind millions of devices and applications. Verimatrix will showcase a pre-integrated solution of the Verimatrix Code Protection product with the Qt Software Framework at the Qt Ecosystem stand at Embedded World 2020 in Nuremberg, Germany. Qt is the platform of choice for in-vehicle systems, medical devices, industrial automation devices, and other business critical application manufacturers. Verimatrix Software Shielding suite consists of Code Protection, Whitebox and ProtectMyApp tools; with Code Protection and Whitebox now integrated within the Qt software development framework – the industry’s first-ever su

Counterpoint Research: Fugro, PTC and Mapbox Lead the Spatial Intelligence Platform Capabilities21.2.2020 17:00:00 EETPress release

With the expansion of connectivity, several innovative technologies are becoming more prevalent; location intelligence is one; leveraging location and positioning data to generate insights and create value. However, location intelligence and navigation have historically lacked the ability to navigate effectively inside buildings. This has given rise to a technology innovation that we term “Spatial Intelligence.” This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200221005009/en/ Counterpoint CORE Scorecard - Spatial Intelligence Platforms - (Dec-2019) (Graphic: Business Wire) Spatial intelligence platforms leverage real-time simulation of 3D models to provide visualized real-time insights, which include absorbing multiple data sets, IoT integration and enabling rapid development of digital twins. The technology can collaborate with existing new technologies like smart city, digital twins, Industry 4.0, AR/VR to create multiple i

Prohibition at Any Cost? Philip Morris International Hits Back at Global Campaign of Disinformation21.2.2020 16:58:00 EETPress release

Statement by Dr. Moira Gilchrist BSc (Hons) Pharmacy, PhD Pharmaceutical Sciences, Vice President Strategic & Scientific Communication, Philip Morris International: “‘You should develop a safer product.’ For decades, that is what governments and the public health community have told the tobacco industry. PMI has invested billions of dollars in science and technology to achieve that precise objective. “A campaign coordinated by American special interest groups, all of whom are seemingly funded by the same source—Bloomberg Philanthropies—are dedicated to just one mission. Under the guise of promoting public health, they are working to rob adults who smoke of their right to choose scientifically substantiated better alternatives to continued smoking. We have a question for them: Why are they using an elaborate network of organizations to deceive adults who smoke, elected officials, and the public health community? We can only conclude that they are pursuing a disastrous prohibition-only c

Preeminent Tax Practitioner Yash Rupal to Join Simpson Thacher in London21.2.2020 13:00:00 EETPress release

Simpson Thacher & Bartlett LLP announced today that Yash Rupal will join the Firm as a Partner in its London office where he will be a part of its global Tax Practice. He currently heads the London Tax Group at Linklaters. Yash represents a broad range of U.K. and international corporate clients, financial institutions, investment funds, hedge funds, asset managers and their respective executives on complicated, often cross-border, mergers and acquisitions, investment fund planning and tax planning matters. He also advises extensively on tax disputes, tax litigation and HMRC enquiries. “We are delighted to welcome Yash to Simpson Thacher,” said Bill Dougherty, Chairman of the Firm’s Executive Committee. “With more than 30 years of experience advising many of the world’s leading asset managers and financial institutions, Yash is widely regarded as one of the most preeminent tax practitioners in London. He will expand our tax capabilities for clients with interests in the U.K., continent

Tej Kohli Foundation Seeks to Incubate New Projects That Can Eliminate Corneal Blindness By 203521.2.2020 11:00:00 EETPress release

The Tej Kohli Foundation is to establish a new incubator to provide seed and acceleration funding to projects with the potential to help eliminate corneal blindness worldwide. Funding, practical resources and intellectual capital will be available to both commercial and non-commercial projects that have a clear path to the prevention, treatment and cure of corneal blindness; with funding decisions based on the magnitude of the total impact that a project will likely have in poor and underserved communities worldwide by 2035, as well as the likelihood that a project will succeed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200221005010/en/ Mrs. Gurujalli Tejavathi outside her home in the Bhadradri District in India. Mrs. Tejavathi receives free eye care for a previously transplanted cornea from the Tej Kohli Foundation. (Photo: Business Wire) The Tej Kohli Foundation continues to build its position as a multi-disciplinary

Advanced Bionics Announces Voluntary Field Corrective Action of The HiRes Ultra / Ultra 3D Cochlear Implant21.2.2020 05:23:00 EETPress release

Advanced Bionics (AB), a global leader in developing advanced cochlear implant systems, announced today that it has begun notifying regulatory authorities that it will voluntarily initiate a field corrective action related to the initial version of HiRes Ultra and Ultra 3D cochlear implant devices due to a decrease in performance experienced by a small percentage of recipients. AB’s priority is to ensure that all cochlear implant recipients and health care providers have the information they need to understand this situation and that they receive the necessary support. Existing recipients of HiRes Ultra and Ultra 3D may continue to use their device as normal. If recipients experience issues of hearing degradation they should visit their audiologist or other health care provider. In addition, we will begin the notification process for device recipients worldwide, where allowed, to make them aware of the potential issue. This voluntary action is being taken in an abundance of caution in

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom