OXT is not an Ethereum.
Created by the team at blockchain startup Blockchain, OXT is a digital asset designed to give users control over their digital information. OXT is built on the Ethereum blockchain and utilizes the Interplanetary File System (IPFS) to store data.
IPFS is a decentralized file storage system that allows users to access files without the need for a central server.
NOTE: WARNING: OXT is not an Ethereum. OXT is an asset created by the cryptocurrency exchange Coinbase and is not part of the Ethereum network. Do not purchase or use OXT if you are looking for Ethereum.
While OXT is built on the Ethereum blockchain, it is not an Ethereum token. Rather, OXT is its own separate token that is used to power the Blockchain platform.
Blockchain refers to OXT as a “utility token” that can be used to pay for fees associated with the platform, such as storage fees.
OXT is not an Ethereum, though it is built on the Ethereum blockchain. Rather, it is its own separate token that serves as utility token for the Blockchain platform.
7 Related Question Answers Found
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. In 2014, Ethereum launched a presale for ether, which received an overwhelming response. Ether is like the fuel for operating the distributed application platform of Ethereum.
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