XSL LABS | Creating the Internet you can trust

davidtosin (8)in #finance • 4 years ago

XSL Labs is an ecosystem that intends to protect user privacy and data. XSL Labs will ensure the decentralization of the network and the interoperability of all the services offered within the SYL ecosystem.

BUT FIRST, WHAT IS CRYPTOCURRENCY?

Cryptocurrency is a form of payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency for the cryptocurrency to access the good or service.

Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security. Offering friction-less transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Counterfeiting and anonymous transactions are impossible to achieve.

INTRODUCING XSL LABS

XSL Labs is an ecosystem that intends to protect user privacy and data. Several platforms in XSL Labs such as Pulsar, SDI, SYL Library, and ONE will operate and develop in the future to become platforms that truly understand users and protect their privacy. Meanwhile, XSL Labs will be the ecosystem that will be responsible for the development of these projects and provide SYL tokens as access to these platforms.

XSL Labs Ecosystem

As previously explained, XSL Labs is an ecosystem consisting of several platforms that have their respective functions. The following are details of the platforms;

Pulsar: Pulsar is a distributed ledger that serves as the bedrock for decentralized identifiers and the entire ecosystem of dApps and dApp extensions. Pulsar will be associated with KYC and AML.
SDI: SDI stands for "Secure Digital Identity" will be a set of encrypted personal data that only the user can read. Each data will be encrypted and only the user who has the key can access the data.
SYL Library: SYL Library is a distributed app store that functions like the App Store or Play Store, will display all the services of the SYL ecosystem.
ONE: ONE is a user-friendly distributed app running on Pulsar. This will be a platform for users to control all tools on the Internet of Trust.

SYL Tokenomics

XSL Labs issues a token called "SYL". This token is the native asset of the entire XSL Labs ecosystem. It is a token of type ERC-20 which can be traded by the user. At launch, SYL will only have a maximum supply of 10,000,000,000 and cannot be created again. Later this token will have a function as "fuel" that will support the operations of XSL Labs.
TOKEN INFORMATION :

Total SUPPLY: 10 000 000 000
TOKEN SYMBOL: SYL
NUMBER OF DECIMALS: 6
ONE SYLOSHI: 0.000001

As the project says, the SYL token will become a vehicle for exchange, purchase of services and execution of smart contracts in the SYL Ecosystem. As a result, the value of the assets will depend on the number of services and costs, the number of assets in circulation, the speed of the ecosystem, and the supply / demand in speculative markets. And XSL Labs also notes that even if XSL Labs disappears, the ecosystem will continue to grow independently and function permanently, provided by players on the network. This is possible due to the decentralized nature of the network and the lack of a single centralized decision maker. Through this “Tokenomics”, we can understand that all players in the ecosystem will have an impact on the price of an asset through their various services.

For more information about this amazing project, please visit the links below: