In Focus: ColossusXT
The Journey So Far
Released in September 2017, ColossusXT (COLX) is one of those projects that have sailed through the thick and thin of the cryptocurrency market and its volatility. The community-oriented and energy-efficient coin was designed to create a truly decentralized grid platform that caters to the privacy of its users.
The network has ensured sustainability through a combination of its PoS 3.0 protocol, 2-tier masternode structure and a self-funding treasury system.
One of the corner stones of COLX’s success is its need to evolve. And this can be seen in the milestones reached so far.
In its first year, COLX unveiled its ARMIS privacy protocol, integrated ZeroCoin protocol and atomic swap technology, launched its android and web wallets, and launched its governance system, amidst other partnerships and exchange listings. COLX is currently listed on Crex24, Txbit.io, Birake, InstaSwap, Block DX, Midas Exchange, Altilly, Stakecube, SocialSend, Cointopay, Plaak, Next.Exchange, Cryptaldash and soon on LuxGate DEX.
ARMIS is a free, decentralized, anonymity technology based on I2P’s open specifications. Our technology uses both encryption and sophisticated routing techniques to create a private overlay network across the internet which strengthens a user’s privacy.
By 2019, COLX became an officially registered business in Wyoming, USA. Within the same period, the COLX team was issued a Legal Opinion letter that certifies its legality and genuineness.
By Q2 2019, completed its GUI masternode setup. Other milestones in 2019 include the completion of its business payment system, beta launch of ARMIS, Trezor phase1 Blockbook integration and budget optimization.
A Glance to The Future
The future is already here and for ColossusXT this entails reaching some new milestones in 2020. The team has released its 2020 roadmap along with its business plan for 2020 and beyond, giving an overview of what its community should expect this year.
In Q1 2020, COLX will work on ARMIS gamma release, deterministic masternodes, non-custodial mobile wallet partnership, and Trezor Blockbook full integration. By Q2, ARMIS production and Colossus Grid Pre-Alpha are expected to be released. The community should also expect cold staking and a resource marketplace.
Whilst the team will focus on attracting new investments from blockchain companies, angel investors, and meaningful partnerships in 2020, masternode operators should expect additional benefits on their investment.
In addition to regular masternode rewards, investors will enjoy a two-step revenue model over marketplace transactions annually. The first step is a 5% cut, while the second step is a 10% cut.