As blockchain technology offers the ideal answer with security, decentralization, and scalability throughout the entire protocol, the Exohood team is trying to advance it.
Exohood’s Protocol will therefore be able to function on a blockchain like Ethereum that permits DApps and on-chain compatibility. The Exohood Smart Chain implementation is the other standout development component of the project. It uses a modified version of the industry-standard IBFT proof of authority consensus protocol, making it the ideal consensus algorithm for public blockchains with a group of well-known validators participating in block creation.
Current validators can propose and vote to add or remove validators using our on-chain voting system. All the already available Ethereum tooling, smart contracts, decentralized applications, and standard applications built on the Ethereum JSON RPC, such as MetaMask, will support Exohood Smart Chain. However, the Exohood blockchain will enable a low carbon footprint and offer amazing scalability and performance.
The Monero/CryptoNote open-source projects served as the foundation for the Exohood blockchain, a UTXO-model blockchain that has now been completely stripped of all privacy features. Beginning with our blockchain update, transactions and addresses are completely open to the public, somewhat like Bitcoin’s. This aligns us with international regulations.
The protocol for CryptoNote
To provide end users with the greatest blockchain technology currently available, Exohood blockchain is built on top of the CryptoNote Protocol, an open-source platform with sophisticated mathematics and cryptography characteristics.
Proof of Double Spending
Because our UTXO bookkeeping is database-driven, no one can spend the same EXO more than once.
Evidence of accountability
Our block validation is permissioned, and the companies authorized to validate blocks are hired and closely watched based on how responsibly they use the money from their validations and how kindly they interact with other members of our network.
Exohood is developing and forking from the Monero project. Still, we have been making some distinctive and crucial changes to the protocol to move toward being the widely used mobile cryptocurrency. By eliminating Monero’s privacy features, some of the key features we’ve added allow for better transaction throughput in the blockchain and KYC & AML (Know Your Customer & Anti-Money Laundering) procedures.
ExoCoin is a mobile miner that distributes a small amount of EXO daily to users, facilitating market liquidity and fostering viral development. We’re developing a global platform for rapid bitcoin payments. Instantaneous SPEND EXO is simply one component of that equation. We are working on an API that will make it easy to integrate ACCEPT EXO immediately. As a result, it will be simple to enable rapid checkout on an eCommerce system and to provide seamless interaction with ePOS systems (electronic point of sales systems or tills). ExoCoin’s foundation is open source and available for use without limitations. With introducing a new consensus method we’ve dubbed Proof of Responsibility and converting the entire permission-less blockchain into a moderated blockchain, we made some significant changes to the cryptonote network.