“Polkadot based cross-chain protocol that provides decentralized, safe and fast bridging solutions.”
Here at OIG we often seek to align ourselves with projects that solve real problems and have genuine use cases; X-Protocol does both of these things and more!
This Polkadot based cross-chain protocol provides decentralized, safe and fast bridging solutions. X-Protocol has some seriously advanced technology that allows super scalability, speed, interoperability, governance and upgradability. Their heterogeneous sharding technology, community governance and X cross-chain bridge, combined with a phenomenal team, are just some of the reasons why we are excited about this project.
One of X-Protocol’s major aims is to build a Decentralized Metaverse. They envision this Metaverse containing all kinds of DAPPs based on whatever people both need and want. Some examples would include Cross-Chain Asset Management, Data Aggregation Predictive Analytics, Social networking needs, and more!
Based on Polkadot ecology, X-Protocol will also eventually launch on other major public chains such as ETH, BSC, Polygon, Solana, AVAX and others in the future which will widen the potential revenue and reach as well as allow it to become a commercialized metaverse base.
Today we will cover two main features of X-Protocol that we see as core components of why this project will excel and achieve greatness. Although there are many aspects to be excited about, we’d like to highlight these two:
1) X-Protocol Bridge Protocol
Cross-chain bridge is an essential part of Polkadot’s ecosystem because other public chains that want to connect to Polkadot must use a cross-chain bridge. A cross-chain bridge is actually a special kind of parachain that acts as an intermediate bridge between different chains and connects some chains that cannot be directly connected to the relay chain.
The X-Protocol cross-chain bridge solution is a two-way cross-chain token bridge based on the relay chain. X-Protocol’s relay solution offers higher performance and speed, which means that once connected to the X-Protocol cross-chain bridge, customers can focus on business and applications without worrying about cross-chain infrastructure. Compared to other cross-chain bridges, the X-Protocol cross-chain bridge is able to achieve higher cross-chain asset liquidity, with advantages in performance and decentralization. X-Protocol establishes a trustless cross-chain bridge. It allows users to mint assets from other chains at a 1:1 ratio on Polkadot. These assets can be used for all applications and parachains in the Polkadot ecosystem and they have no difference from Polkadot native assets, thus bringing higher liquidity to Polkadot DeFi.
X Protocol has their own unique X-Protocol bridge protocol, X cross-chain relay, MMR, OWS, SPV and other core technologies to provide a comprehensive and perfect mechanism in terms of security and verification to ensure the smooth operation and transaction of users.
2) The X-Metaverse
X-Protocol is creating X-Metaverse, an immersive virtual world which will allow users to use decentralized identity to get a real world experience. Real-time communication, social networking, diversified applications, an independent economic system and much more will be available in their X-Metaverse. Everyone can enjoy the X-Metaverse anytime from anywhere. The things which particularly stand out about the X-Metaverse are:
Decentralized Equal Identity: They will enable anyone to create a virtual identity in the X-metaverse. The owner will have the ability to customize attributes and can make any face painting and body dressing they want. Their system fully protects the user’s data and privacy, allowing the individual to manage his or her own identity while eliminating the real-world barriers of race, colour, religion, class and politics, and truly becoming who you want to be.
Low Latency: The X-Metaverse, like the Internet, is a perpetual system that continues to provide services and content with an evolving and rich ecology, with the encryption technologies and affluent applications of the traditional Internet. To better connect with the real world, everything in the X-Metaverse happens synchronously, without asynchronization or delay.
Strong Social links: Relying on the social system of the X Metaverse ecosystem to break time and space constraints, users can establish social contact with people all around the world. Users can also invite their real-world friends to explore the X Metaverse together. The X 7 Protocol helps the vast number of Internet users migrate smoothly to the decentralized “Internet” by providing a more comprehensive, diversified, and convenient identification service.
Immersion: Through the instant interaction and virtual identity features brought by the high TPS and low latency, X-Protocol constantly pursues vivid graphics and provides users with a more immersive and realistic sensory experience beyond the real world, so as to build a virtual shared space beyond the real universe where you can immerse yourself in the metaverse and ignore everything else.
Diversification: X Metaverse creates multiple application scenarios based on the X-Protocol, offering rich content such as a variety of gameplay, props, art materials, and so on. With the interoperability and interaction framework of cross-chains, the X-Protocol enables the integration of user cross-chain data aggregation, credit computing, and identity value output into a platform. You can live as wonderfully as you do in the real world.
Anytime, Anywhere: You can log in to X Metaverse to immerse yourself in it anytime, anywhere. Inheriting the openness of the Internet, X Metaverse allows free access and exit, it encourages free creation and social interaction, so as to be able to absorb a wide range of scientific and technological, financial, and business model innovation and high-quality content, achieving sustainable ecological prosperity. You can derive value from a variety of actions.
Economic System: The fair, free and energetic X Metaverse ecosystem encourages users to innovate continuously and accumulate high-quality content:
▪️ Support the blockchain-based open-ended payment and clearing system to solve the real-time, fair, transparent and fast point-to-point payment needs of users in the metaverse.
▪️ The virtual items and innovation achievements of users will be able to be marked and converted into digital assets in the metaverse, where transactions, transfers, investments, etc., should be supported to encourage users to accumulate wealth through continuous innovation.
▪️ It provides an on-chain, decentralized open-source ecosystem. The application scenarios are not only entertainment, but also a parallel digital world where you can socialize, study, work, shop, watch dramas, watch exhibitions, exercise, and even invest and manage funds on the platform at the same time.
Civilization: The metaverse creates a virtual civilization. Just as the economic basis determines the superstructure, the X-Protocol’s community-driven “Play to Earn” model brings unlimited possibilities into the X metaverse, and the users’ group wisdom will promote the birth of a new X civilization. You can enjoy a new civilization brought by technology here or create a civilization of your own.
OIG is extremely excited about the X-Protocol project, we are looking forward to supporting, working with, and helping their team achieve their mission and vision. Once you start digging into both their technology and roadmap, it is hard not to start to realize the enormity of this project and its endless possibilities. We have only scratched the surface with this article as there are so many more things happening with X-Protocol. To learn more and join X-Protocol on their journey, connect with them here: