- Established dApp platforms are facing up and coming challengers, many of whom are currently under the radar
- x42 recently came 4th out of 64 in a Twitter tournament, despite being relatively unknown by all except its legion of committed supporters
- x42 represents “the future” of blockchain platforms – fast, free and scalable
- The platform will be powered by masternodes in 2019
Ethereum has long been the go-to blockchain app development platform, but new entrants to the dApp space have been emerging over the years to offer some competition. We all know about the big players like NEO, EOS and Tron, but less well-known competitors are also starting to make waves. One of these, x42, recently came 4th of 64 entrants in a Twitter voting competition called the Gem Tournament, competing in the final against projects with far bigger exposure. The platform makes bold claims to be feeless and infinitely scalable, with staking and masternodes in the mix to operate it.
Mark Hunter spoke with Chief x42 Officer Myke500 to discuss the project and what marks it out from the competition.
MH: Hi Myke. Please can you start by summing up x42 in one sentence?
Myke500: We represent the future of blockchain – scalable, feeless, fast and open to any aspiring entrepreneur by using x42 to build on.
MH: What is the specific problem x42 is trying to solve?
Myke500: The cryptocurrency space is in need of an all-encompassing platform that allows for the creation, promotion, publishing and marketing of that same software product, smart contract or altcoin. x42 has created the foundation to make this a reality.
MH: What would you say are the standout features of your platform?
Myke500: It’s feeless. That is usually the first thing that stands out. But the masternodes will be the real gem of the platform. The ability to host your project with as little or as much resources as you need with a minimal cost of entry. Your only limit is your imagination.
MH: You say your platform is ‘infinitely scalable’. Could you explain how that is possible?
Myke500: The developer will be able to control the attributes of their side chain in any way that they deem necessary, and it can be hosted by any or even all masternode owners. The more masternodes that host it, the more resources it will have available. Revenue sharing with the masternode owners will help to guarantee getting hosted quickly and reliably.
MH: How are you able to offer a platform with free transactions?
Myke500: Easy question – just don’t add fees to the code. It’s as simple as that. Although Dennis, our developer, spent months making that work.
MH: What’s the ethos that drives you and the team working on x42?
Myke500: The community and technology. We are not driven by price or market fluctuations, but to develop and create a new platform that anyone can use.
MH: You recently came 4th of 64 in the Twitter Gem Tournament, beating much better known opponents to get to the final. What do you put that down to?
Myke500: We have a strong community. Our community members are active and see the value in the project. We are an organic community. And often someone that takes the time to look at it and see what we are about will discover the real value of what we are here to accomplish.
Myke500: You achieved 4th place despite very little marketing and not being listed on index sites such as CoinMarketCap. How do you plan to grow the public awareness of the project?
Myke500: I think the simplicity, speed, quality and rewards speak for themselves. We continue to grow organically. There is no reason to market forcefully.
MH: What is your ultimate aim for x42?
Myke500: To deliver an easy to use platform for the users and developers alike.
MH: How important are masternodes and staking to your project?
Myke500: Staking is important for now. It adds value while the masternodes and dApps are being built and increases the available supply. Staking will not last forever. Once the maximum supply is reached it will end. The masternodes are the long-term income generators. x42 would not be the same without them.
MH: What’s your wider view of the crypto market? Do you think we’ll bounce back to where we were in 2017?
Myke500: I think we are past the initial discovery phase. Bitcoin has had mainstream media attention. The market is still fresh however and adoption is increasing daily. But the hurdles of entry and ease of use and will continue to prevent rapid growth. That is an area that needs to be fixed.
MH: Finally, can you expand on the name x42? Does it have a specific meaning?
Myke500: The ‘x’ represents the universal unknown and can also represent ‘anything’. The ‘42’ is a reference to the Hitchhiker’s Guide to the Galaxy books which cite 42 as being the answer to life, the universe and everything. So combining the two together illustrates our ambition to be the answer to the many large problems within the cryptocurrency universe. The ‘x’ is also lower case to indicate that the problem is never bigger than the solution. And the solution is x42.
x42 is currently working on the next iteration of their wallet and developing the masternode application, which is expected in early 2019.