Experience Points Whitepaper

Abstract

AN INTRODUCTION The Romans bought land with the solidus, the Umayyad caravansaries flowed with dinars on the Silk Road, cargoes were bought and sold on the high seas with pieces of eight, and the trade of a planet has been supported by the almighty dollar for the last century.

However, today, you have a new option, and you can mint it in your own home. Welcome to the world of XP. Since 2010, cryptocurrencies have redefined the meaning of wealth as we know it today. From the first record exchange-based transaction of Bitcoin, when it was valued at only 3/10 of one cent, the value has skyrocketed to over $5,500 today. Even so, a March 2017 report by Cambridge University estimated the number of cryptocurrency users at between 3-5 million, making you, the reader of this whitepaper, a member of an elite group of explorers sounding the depths of new oceans humanity has yet to explore. Racing ahead into this unexplored world is TheBigXP, cryptocurrency’s most agile representative to the rest of humanity.

It is the dawning of a new day for finance, and XP is bridging the gap between the cryptocurrency world of 3-5 million users, and the 1.2 billion gamers worldwide through an innovative Proof-of-Stake reward system and an aggressive marketing and expansion plan. How does this work? The first thing to understand about cryptocurrency is that you are your own banker. Gone are the days of standing in line to deposit a check or of nervously checking your account balance to wait for a check to clear. Gone even are the mind-numbing waits as you stare at your wallet waiting for a Bitcoin transaction to confirm. Instead, your account is on a permanent ledger called a “blockchain.” Your account is signed with a set of keys that only you have access to, but that you can use to approve and validate transactions. When you make a transaction, it is signed with your secret key and cannot be duplicated.

This system is one of the most secure ever devised as the blockchain is distributed globally. The blockchain is not like a bank record that can be destroyed by a computer failure or fire; it is permanent and global. The software upon which your wallet is based is open source and available for anyone to inspect or audit. When was the last time your bank let you look at their software protecting your money? Even massive corporations like Equifax can’t secure your identity or your funds – the only one who can is you. With XP you have the ability to manage transactions quickly and easily on your desktop or android wallets and can experience the joy of near instantaneous transactions.

XP can achieve this through the use of a Proof-of-Stake validation. It works like this: This process is known as “staking.” As opposed to the expensive and resource-intensive methods of “mining” used by currencies such as Bitcoin or Ethereum, XP’s Proof-of-Stake algorithm instead uses a minute amount of your processor’s power to “stake” the transaction. When you stake a transaction, you are entered into a probabilistic drawing to receive a reward based on the transaction. If you leave your wallet on the network to approve transactions 24/7, the payments based on your supplying the service of verifying transactions can be significant.

To summarize: – Everyone gets paid to keep the network secure – Everyone shares the bank history, so its transparent – The software is open source so you know it’s safe – It is anonymous and anyone can open an account – It is extremely fast; you can send money to anyone in the world within minutes – It is and will always BE FREE

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Experience Points Whitepaper

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