Experience Points (XP) is a completely independent, platform agnostic incentive rewards token and digital currency combined enabling you to earn XP through video games, activities, sports, education and conservation which you can then spend at participating vendors either online, in-game, or on the high street (cryptocurrency exchanges). Also, the blockchain utilizes a PoS (Proof of Stake) algorithm, enabling you to earn interest simply by holding onto your earned XP. The concept of real value rewards merged with the blockchain technology of Bitcoin provides an innovative approach to in-game currencies moving towards a unified platform, similar to the standards applied to mobile phone charges, for example.
This approach keeps the digital currency completely independent from any bank, central authority, government or corporation but at the same time allowing them all to collaborate and submit proposals, open source code, documentation and content that benefits other participants and parties in the network.
The issues of reducing total supply, reducing stake rate, and large wallets held by team members can be effectively managed through the introduction of the XP Pentanode System. Rather than relying on simple staking for the security of the network, XP will rely on five different types of specialized nodes to provide network security and the verification of transactions. In addition to receiving various annual returns, the nodes will also send a percentage of their stake rewards back to the XP Foundation to be used to grow the network or to be burnt in a transparent and auditable fashion.
XP Masternodes (Cost: 50m XP)
These are standard investment-grade Masternodes, paying out at roughly 50% annually. In order to guarantee uptime, stakes will occur every 60 minutes after the node has been active. Annual earnings assume a 24/7 uptime, with bonuses being distributed to nodes for being up and staking for the longest period of time. For each hour staking, these nodes will receive approximately 2,800 XP. The nodes will be configured so that It doesn’t matter whether the node holds 50m or 500m, the payment will be the same. This incentivizes the creation of new nodes and disincentivizes hoarding.