Bitxor Blockchain is a platform that allows the creation of tokens using its Logic Smart Contract (LSC-X), an evolved multi-layer smart contract system. Through this system and the standard BPSX1, the authenticity of the tokens and their protection against cloning and fraud attempts is guaranteed by assigning each token a unique and immutable ID and Namespace in the network.
Bitxor LSC-created tokens can have properties such as divisibility, initial supply, duration, mutable supply, transferability, restriction and revocation, among others, which can be enhanced by the community to meet their needs.
The wallet creating the token is the platform where the token will be credited. Tokens are fixed assets that represent a set of multiple identical things that do not change. A token can also be a collection of more specialized assets, such as reward points, stocks, signatures, state flags, votes or other currencies, for example.
Bitxor Wallet offers MultiSignature as a form of two-factor authentication to approve transactions and ensure that funds are not compromised in any way, even if a hacker or virus were to compromise one of your accounts.
Token specialization is achieved through its properties, which are set during token creation. Once created, each token is assigned a unique identifier represented as a 64-bit unsigned integer.
For example, Bitxor's native coin (BXR), has token ID 0x3D1FE6EDC7F9611E
To create a token on the Bitxor public network, it is necessary to pay a rental fee and a transaction fee, which are deducted from the account balance after the announcement of a valid Defined Token Transaction.
NameSpaces
Bitxor namespaces are human-readable text strings that can be used in place of an address or token ID. These have a unique name in the network and a length that can be modified in consensus by the network with input from the community. In addition, namespaces can have sub-namespaces to identify and organize assets.
Tokens and industry
Some of the countless areas where the company can develop or incorporate IT projects based on the Bitxor Blockchain and where tokenization can bring great advantages are:
- Document registration.
- Medical records.
- Organization and distribution of energy resources.
- Voting systems.
- Digital identity.
- Monitoring of production processes.
- Clothing or food manufacturing process records.
- Property records.
- All types of operations such as rentals or property sales without the need for intermediaries.
- Customs controls, among many others.
In summary, Bitxor Blockchain offers a secure and efficient platform for token creation and management, giving the community the ability to enhance and customize the properties of their tokens according to their needs and preferences.
We invite developers and companies to learn about the benefits of tokenization, create their token and build their IT solutions on Bitxor Blockchain, an open, participatory and fully auditable multi-service platform designed to integrate services and applications into a CosmoSystem with enormous future potential in the world of decentralized finance.