This project has a lot of good things going for it. But at the end of the day, it's another "me too" project.
It claims to champion the ideals of the original Bitcoin, but it really doesn't. The ultimate promise of Satoshi was peer-to-peer money, with the ability to build smart contracts. Xen is not that.
In all fairness, there are a few great benefits:
- No premine
- Cool proof of participation algo, which I think is the most fair
- No central authority, simple code
- The minting reward mechanism seems to make sense, at least in theory
But there are 3 major flaws in this project, in my opinion...
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The big one is the penalty for not claiming your stake in time. You could lose up to 99% of your reward. This smells a lot like Hex (see my review on that project). This isn't ethical.
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It's all about the tokenomics on their site, not any real world benefit.
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There is a burn mechanism. With unlimited supply, this kinda makes sense, but I'm not a fan of any project that burns. That usually means they are trying to pump price in the short term and not trying to create an ecosystem for the long term. Show Less
