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Smart Contract, Infrastructure

Elixxir

Elixxir works on a blockchain technology providing users with a confidential and secure decentralized platform capable of scaling to meet the demands of mainstream adoption without compromising its characteristic high transaction rates and short processing times.​​​​​​​

Rating: 3.6

Official contacts
Location: Greater Los Angeles Area, USA
Web-resources:   Whitepaper Website
Social networks:
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development
The Elixxir payment and messaging AlphaNet is running. No public beta is available.


Token description
ICO date
TBA
Token price
N/A
Platform
Own platform.
Blockchain
Own Blockchain
Token distribution date
N/A
Consensus method
Elixxir. In the Elixxir consensus protocol, nodes reach finality by evaluating short proofs that are propagated optimally through the network. As a result, the Elixxir consensus mechanism facilitates seconds-long finality times.
Escrow
N/A
ICO currencies
Bounty camping
N/A
Markets
N/A
Token functions
Tokens will be used for staking to run nodes.
Risks
MARKET
  • High level of competition in the field of a scalable private blockchain

  •  
PRODUCT
  • There is no link to GitHub to track the source code
  • The roadmap is not given
  • The current stage of the product development cannot be validated
BUSINESS MODEL
FINANCES
  • The financial metrics have not been released yet.
  • The token distribution structure has not been released yet.
TEAM
  • Some of the team members have empty Linkedin profiles
Full analysis
Market

Because of its immutable ledger and highly secure framework, applications built on blockchain can offer lower operational costs, better data security, and faster transactions in a number of industries, including financial services, retail, and personal identity. However, The technology is inaccessible unless you have full-stack DevOps and cryptography experience. On Ethereum, for example, a developer with expertise in Solidity is required to write a smart contract, and even an exceptionally skilled developer may make fatal security mistakes doing so. 

On top of that, existing blockchains don’t support the volume of transactions needed to run data-rich blockchain apps. That is why the potential of blockchain development solutions is huge.

There are a number of potential competitors to Elixxir that offer blockchain development solutions, including Stratis, Lisk, Ark, BlockApps, Hyperledger, and Esprezzo. Most of these projects gained high ROI since public sale or now have large communities. This may decrease the potential for Elixxir development.

Product

The Elixxir payment and messaging AlphaNet is running.

Elixxir provides users with a confidential and secure decentralized platform capable of scaling to meet the demands of mainstream adoption without compromising its characteristic high transaction rates and short processing times.  The architecture of the Elixxir platform provides with the performance that scales linearly as computers join the network. Network nodes are incentivized to maximize throughput while ensuring security, and payments use a faster hash-based ownership mechanism instead of digital signatures. Elixxir protocol utilizes accelerated mix networks to ensure confidentiality. A mix network is a routing protocol that uses cryptography to dissociate the origin, contents and destination of a message.

Token handling in most conventional blockchain systems today is wallet-based. In the Elixxir protocol, token handling is token based, meaning the token remains static, while a secret is required to prove ownership. These secrets are kept off-chain and change when ownership of a token is assigned to a new owner.

Elixxir provides users with:

  • Speed: Payment completion and message transmission are completed in a matter of seconds.
  • Transactional privacy: Only senders and receivers can review and prove payment history. Transaction data is not stored on the blockchain.
  • Communication privacy: The identity of communicating parties and their devices remains private
Business model

Nodes are selected to work together by a decentralized randomized algorithm. This creates increased privacy and network integrity. All per-transaction public key operations are pre-computed; only “hash functions” are used in real-time per-transaction.

The architecture of the Elixxir platform provides users with the performance that scales linearly as computers join the network. Network nodes are incentivized to maximize throughput while ensuring security, and payments use a faster hash-based ownership mechanism instead of digital signatures.

The Elixxir consensus requires nodes work in teams that are sequentially assigned the task of generating blocks as opposed to requiring all nodes to compete individually. Within teams, all nodes are required to independently create cryptographically verifiable proofs that are published alongside the new block, proving that transactions were received and processed properly. Elixxir users are able to validate the integrity of transaction processing using these proofs. Additionally, the existence of just one honest node within the team is sufficient to preserve the anonymity of users.

Finances

The token metrics have not been revealed yet.

Team

There are 12 people on the project team, according to the company's website.

Widely recognized as the inventor of digital cash, David is currently leading the Elixxir project to provide scalable digital sovereignty. He is also known for other fundamental innovations in cryptography, including privacy technology and secure election systems. With a PhD in Computer Science from UC Berkeley, he taught at NYU Graduate School of Business and the University of California, led a number of breakthrough projects as well as founded the International Association for Cryptologic Research, the cryptography group at the Center for Mathematics and Computer Science in Amsterdam, DigiCash, the Voting Systems Institute, and the Perspectiva Fund.

Other team members also have a strong background but in the business domain. Some of the team members have empty Linkedin profiles.

Social networks
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