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Monday, November 29, 2021
Home News Massively Distributed EOS-derived Blockchain XenonNetwork to Begin Token Distribution

Massively Distributed EOS-derived Blockchain XenonNetwork to Begin Token Distribution

XenonNetwork, an enterprise-scale Blockchain launching in July 2018 will kick off with a massive distribution of their native Xenon (XNN) ERC-20 compatible tokens to over 400,000 active ethereum addresses at the beginning of October.

In addition to this, a similar distribution to bitcoin holders will occur in November, followed by a proof-of-individuality public token distribution from November through to June 2018.

“The EOS project engages a proven team developing the world’s most innovative and high-throughput enterprise Blockchain. However, recent regulatory issues surrounding initial coin offerings in China and the United States, as well as limitations of the crowd-sale distribution model may create potential hurdles for adoption of the project. We present a massively distributed alternative implementation of the EOS project which avoids these limitations,” said Andrew Kong, Cofounder of XenonNetwork.

The organization proposes to distribute the Xenon tokens as follows:

  • 30 percent of Xenon tokens will be distributed to ethereum addresses containing more than or equal to 0.1 ether in early October.
  • 20 percent of Xenon tokens will be distributed to bitcoin holders based on proof-of-holdings in November.
  • A further 20 percent of Xenon tokens will be distributed using proof-of-individuality mechanisms to encourage widespread circulation of the tokens.

In July 2018, these ERC-20 tokens will be redeemable for native tokens on the newly launched Blockchain.

“We believe that distribution and adoption are the most important factors determining the success of a Blockchain project. We are determined to have this token in the hands of as many people as possible at the launch of the Blockchain in 2018.” said Mr Kong.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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