The First Private Ethereum-Based Asset EXM to Launch With No ICO

The First Private Ethereum-Based Asset EXM to Launch With No ICO

A new Ethereum fork is going to be executed on July 4. The novel project called Exereum claims to be the first private Ethereum-based asset with no commercial purposes but the tech research goal instead. It means that there’s going to be no ICO related to the fork, but the distribution of EXM tokens initial emission via fork among Ethereum holders.

What is Exereum?

The project positions itself as a non-commercial one that has been developed for tech research purposes. According to the information on Exereum’s site, its team is aspiring to generate a system that utilizes smart contracts for allowing network members carry out transactions privately.

Its anonymity, by the way, is provided by the ZCash technology, known as ZK-starks.

The New Fork is to Take Place Soon

The fork of Exereum is expected to take place on July 4 at between 12 PM and 6 pm UTC. As the project’s team has announced, initially there are going to be emitted 300,000,000 EXM, which will include:

  • 100M from Ethereum fork.
  • 200M reserved for Exereum participants who will develop apps and services based on its blockchain.

As per the consensus, half of the rewards are going to be spread between the master nodes holders, and the master node requirements are 60,000 of Exereum tokens per node. In this case, the high speed of transactions processing is provided. The rest is going to be distributed between proof-of-work nodes as the hashrate proportion is taken into account.

The emission inflation is predicted to be 20% in the first year, slightly decreasing by 5-10% within the next two years and finally getting a rate of no more than 3% after the third year.

When it comes to the scalability, the devs note that it should be 1000-10000 tx per second, whereas the block size of the fork is 2 MB with the block interval making up 15 seconds only.

The Fork Is Using a Special Architecture

As it has been announced, the novel fork is using a 2-level network architecture, which comprises:

  1. Masternodes that take care of transactions verification.
  2. POW nodes which help to add blocks and provide synchronization.

At the same time, it is possible to use the turing-full smart-contracts.

Is it Possible to Get EXM?

At the moment the team claims to hold negotiations with cyber money trading venues to let users receive Exereum tokens. However, it is still real to get EXM coins during the fork period between 12 PM to 6 PM on July 4, 2018. For that one needs to have ether on any cyber wallet to get access to a private key.

What’s Next?

In Exereum’s roadmap, it has been noted that the development of the project started in April, two months after the concept was created. After the fork executes as an Ethereum blockchain snapshot, the team plans to test the launch of the network this fall. The main launch of the network is planned for the end of 2018.

The team also pledges to expand the roadmap with the development of Exereum.