XelisPrice

(XEL)

Xelis is a Layer-1 private cryptocurrency blockchain built from scratch using the Rust programming language. It utilizes a BlockDAG (Directed Acyclic Graph) structure to achieve high scalability while maintaining user privacy. The Xelis mainnet officially launched on April 20, 2024. XEL is the native coin of its own independent blockchain; it is not a token on other networks like Ethereum or BSC, meaning it does not have a contract address on those platforms.

The project is designed to solve the "Quadrilemma," which involves simultaneously achieving Decentralization, Security, Scalability, and Privacy. Traditional blockchains often struggle to optimize all four features at once. Xelis uses its unique BlockDAG architecture and advanced cryptographic techniques to ensure the network remains highly scalable and private without sacrificing the security or decentralized nature of the platform.

Xelis employs Homomorphic Encryption (specifically the Twisted ElGamal cryptosystem) and Zero-Knowledge Proofs (ZKPs). This technology ensures that wallet balances and transaction amounts are encrypted and hidden from public view. While public addresses remain visible to balance privacy with accountability and prevent fraudulent tracking, the actual assets and amounts transferred remain confidential. This allows the network to verify that a sender has sufficient funds without actually "seeing" the numerical data.

Unlike traditional linear blockchains that process one block at a time, Xelis uses a BlockDAG structure. This allows multiple blocks to be created and accepted by the network simultaneously. This approach prevents "orphaned" blocks and allows for much higher transaction throughput (TPS). By processing multiple blocks in parallel, the network can scale more effectively while maintaining robust security and decentralization.

XEL has a fixed maximum supply of 18.4 million coins and operates on a Proof-of-Work (PoW) consensus mechanism. It uses the XelisHashV3 algorithm, which is memory-hard and specifically designed to be ASIC and FPGA resistant. This encourages decentralization by optimizing the network for CPU and GPU mining. There was no premine, though a developer funding fee (starting at 10% and decreasing over time) is taken from block rewards to support ongoing project development.

Yes. Xelis supports smart contracts through the Xelis Virtual Machine (XVM), which utilizes a custom programming language called Silex. This allows for the creation of "Confidential Assets," which are side-tokens that inherit the same privacy features as the native XEL coin. Additionally, the ecosystem is expanding to include "Xelis Forge," a planned decentralized exchange (DEX) and launchpad built natively on the Xelis Layer 1.