August 13, 2021, | AtoZ Markets– XTblock is probably best described as a hyper-capable network with an ambitious agenda – to revolutionize and transform every industry by bringing about very significant changes in technology.
This high-performance network will deliver the capability to power a new decentralized Bot and artificial intelligence (AI) computing economy. With the numerous technology and blockchain projects in the market today, XTblock appears to show fresh promise, bolstered by its novel business model and potential use cases.
- The Time-sharding architecture of XTblock has been designed to solve blockchain systems’ scalability and high latency issues.
- XTblock’s hyper-capable network will power several vital and high-potential frontiers of technology such as decentralized artificial intelligence and bot computing, among others.
- By solving the problems of scalability and performance, XTblock is aiming to make decentralized AI computing significantly more viable.
- By leveraging the massive computing power of the decentralized network, enabled by revolutionary Time-sharding technology across possibly thousands of nodes, XTblock aims to enable bots to compute with large data volumes.
With the advent of blockchain technology, many blockchain-based projects have been developed to offer solutions to the problems facing various industries today. However, very few blockchain networks seek to solve the “in-house” problems facing blockchain technology since its inception. The problems of low transaction speed, poor computational power, limited scalability, high latency, etc., continue to impede the mainstream adoption of this novel technology.
Apart from its wide-ranging applicability, XTblock’s hyper-capable network is aiming, at one level, to be the solution for the blockchain industry. Although blockchain technology has great potential, CapEx and OpEx are often quite significant and prohibitive, thus hindering its widespread adoption. In its whitepaper, the XTblock team says, “we have developed a multi-chain, high-performance, scalable blockchain technology that effectively addresses the key issues facing blockchain today, such as speed, scalability, and high latency.”
Important Features of the XTblock Network
Low capital expenditure (CapEx) and operational expenditure (OpEx)
The XTblock subscription model will facilitate significantly reduced CapEx for users unless there is a request for a private network setup with other associated IT infrastructure. According to the XTblock team, as highlighted in their whitepaper, the economical subscription model will be able to offer lower costs than when using other blockchain networks. On-premise networks will also be made possible for large corporations, while their Platform Terminal tool will help to reduce time expenditure, and consequently the cost, of DevOps.
The supercomputer architecture of the XTblock network will ensure true scalability. Users will be able to subscribe to the speed they need and even switch from low to high speeds, or high to low speeds easily through the Platform Terminal tool. It will save time and effort as well, as these users wouldn’t need to configure the entire network again.
Endless Possibilities: Two Compelling Use Case Examples that Demonstrate What’s Possible
Since the XTblock network’s significant capabilities extend far beyond blockchain, with the ability to power bot and AI computing, there is a multitude of potential use cases. Importantly, since it is fundamentally a powerfully advanced network, it can be used by practically any industry across both, the private and public sectors. Let’s look at two compelling examples that demonstrate interesting possibilities.
Supply chain management
To illustrate one possible use case, medium- to large-sized corporations can utilize XTblock to address the considerable challenges of supply chain management. With XTblock’s advanced and scalable architecture, the volume of transactions desired can scale significantly and in a cost-effective manner. This has significant positive implications, for instance, when it comes to economically record massive amounts of cold chain data, data from IoT devices, RFID, and more. But beyond this, it is also applicable to information flows, inventory flows, and financial flows, with multiple parties such as retailers, suppliers, and banks, as well as others in the ecosystem, being able to access the immutable record-keeping and transparency enabled by the blockchain. According to an article in Harvard Business Review, “Since participants have their own individual copies of the blockchain, each party can review the status of a transaction, identify errors, and hold counterparties responsible for their actions.”
Traffic management in smart cities
An exceptional example of the nexus of AI and blockchain is traffic management in smart cities.
Distributed AI and a high-performance blockchain enabled by XTblock’s high capability network can be used to track vehicles, execute live vehicle behavior monitoring, fuel consumption analysis, and more. The advanced network, in conjunction with decentralized artificial intelligence and decentralized bot computing capabilities, offers advanced functionality lacking in most networks, blockchain or otherwise. With the right hardware infrastructure, network, and software, XTblock would be able to help collect real-time data for very large numbers of vehicles, aiding in critical traffic-related decision making, accident and risk mitigation, and other important aspects.
There are many other promising scientific and commercial use cases also under development, including a decentralized exchange (DEX), yield farming, a non-fungible token (NFT) marketplace, crypto market analysis and trading bots, a decentralized live video streaming platform, and more, as listed in XTblock’s roadmap, which can be found in their whitepaper.
On paper, XTblock’s hyper-capable network appears to have its important parts all sorted out. However, in the blockchain industry, deployment is always where the issues lie. Only time will tell how the XTblock team is prepared to excel in the highly dynamic and constantly evolving blockchain industry – and beyond that, across technology at large.