Assets, Ethereum

What Is Ethereum X?

Ethereum X is a fork of Ethereum that seeks to provide a more user-friendly and stable platform for smart contracts and decentralized applications. The fork occurred on October 25, 2016, at block number 2,675,000.

The Ethereum X team is led by developer Taylor Gerring, who also worked on the original Ethereum project. The team has also been endorsed by Ethereum co-founder Vitalik Buterin.

Ethereum X is based on the same underlying technology as Ethereum, but with a few key differences. One of the most notable differences is that Ethereum X uses a different consensus algorithm called Proof of Stake (PoS) instead of Proof of Work (PoW).

With PoS, users can earn rewards for staking their ETHX tokens and validating transactions on the network. This is in contrast to PoW, where rewards are given to miners who use their computing power to verify transactions and secure the network.

Another difference is that Ethereum X has a different block time than Ethereum. While Ethereum blocks are produced every 10 minutes on average, Ethereum X blocks are produced every 5 minutes on average.

This faster block time means that transactions can be confirmed more quickly on the Ethereum X network.

The final major difference is that Ethereum X has implemented a new feature called Segregated Witness (SegWit). SegWit is a protocol upgrade that helps to improve scalability and reduce transaction fees by moving some data outside of the main blockchain.

So far, Ethereum X has been well-received by the cryptocurrency community and has been listed on several popular exchanges including Binance and KuCoin.

What Is Ethereum X? – Conclusion

Ethereum X is a fork of Ethereum that aims to provide a more user-friendly and stable platform for smart contracts and decentralized applications.

The team behind Ethereum X includes developer Taylor Gerring and has been endorsed by Ethereum co-founder Vitalik Buterin.

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