Xwallet

Xwallet is an original compatible cryptocurrency wallet designed for the two-layered CROSSVALUE Chain ecosystem. It features a cryptocurrency wallet layer and a Voting module, which implements an automated response program based on a voting system. One of its key characteristics is the user-friendly experience it offers by liberating users from the stress of managing private keys, utilizing CROSSTECH's proprietary patented technology. Additionally, Xwallet enables users to participate in the mining process by VPoW.

The following features will be implemented in a phased manner:

Phase 1 (At the time of mainnet launch):

Initiate mining on a limited number of node servers.

Phase 2:

Launch Voting mining pools on node servers.

Enable users to connect their wallets, such as MetaMask, to the Voting mining pools and participate in mining.

Phase 3:

Release Xwallet to the public.

Upon wallet import, users will automatically connect to the mining pool and be able to participate in the mining pool directly from Xwallet.

Phase 4:

Implement a decentralized wallet that eliminates the need for private key storage, leveraging CROSSTECH's unique international patented technology.(Patent Number: 2019-052099)

This comprehensive and phased approach ensures the smooth integration and functionality of Xwallet within the CROSSVALUE Chain ecosystem, providing users with an efficient, secure, and user-friendly experience as they participate in the network's mining and voting processes.The development timeline is described in the Development Roadmap below.

Xwallet functions as a voting node and, as shown in the escrow account determination formula above, automatically replies True/Not-True to confirm the transaction as a smart contract, and a randomly selected node returns the validity to the Escrow node. If the selected voting node is online, it can participate in the CROSSVALUE Chain mining and receive mining rewards in return. The energy used by the node in this process is as low as a push notification. This mechanism maintains a voting blockchain involving all Xwallet users.

The figure below shows the Xwallet layers.

Patented technology for private key generation and storage

Typical crypto wallets today require users to hold their own private keys. However, this method is considered to have a high hacking risk because the private key is controlled by the individual. Hard wallets developed to alleviate this risk without connecting to an autonomous decentralized network, which is conventionally used for secure operation of crypto data, have limitations in terms of convenience. CROSSTECH has developed a technology to solve this problem and achieve secure and convenient operations in the financial technology market, and obtained a patent (patent number: 2019-052099).

Patent Information

Electronic Allotment Type Storage Method and its Operation System

Specifications

The autonomous decentralized network is connected to multiple users' node computers and a group of monitoring node computers. The users' node computers are equipped with an autonomous decentralized electronic certificate wallet execution program that serves as a means of storing cryptographic assets. The autonomous decentralized electronic certificate wallet execution program generates and splits a private key consisting of ciphers to protect the stored crypto currency data, and each part of the split private key is distributed and stored in several anonymous node computers randomly selected from a group of monitored node computers and regenerated at the time of use.