Place/Date: - June 8th, 2018 at 3:23 pm UTC · 4 min read
Our mission today is to answer these questions and unveil some of XMax’s upcoming features.
From Intellectual property to online videos, from music to games, the essence of entertainment is based on the connection between people and the media they consume.
Where traditional entertainment depends on user traffic from advertising and is regarded as a centralized industry, XMax will disrupt the entertainment industry model by taking a decentralized approach.
In simple terms, XMax is building a “public chain plus multiple functional extension chains,” which enables the creation of a blockchain ecosystem that scales with its userbase. This ecosystem will bring together developers and users by offering an easy to use platform for creating and consuming blockchain entertainment.
XMax’s Senior Management consists of CEO – Hughes Ching, CTO – Alex Nikolaev and Community Lead – Christopher Manzano. All three of them bring expertise and experience from their respective fields in the entertainment and blockchain industries.
Cheng Ye has been involved in the Entertainment Industry in the role of an investor for more than a decade, with projects such as Uber and Changba under his wing. His investments have a track record of bringing a return on investment of over ten times the initial capital outlay.
Alex Nikolaev is the founder of Forseti, an arbitration protocol for DAPPs and a winner of a number of blockchain Hackathons.
Christopher Manzano is a product manager for the developer community and specializes in user experience design for online economies. He’s worked with some of the top game companies in Asia and believes that blockchain technology should be designed with simplicity in mind.
Instead of saying XMax is a public chain, it is better to say that XMax is a complete blockchain operating system offering a set of developer solutions for the entertainment industry.
For many blockchain developers, the development process for blockchain applications can be quite difficult as there are very few all-in-one solutions or technology stacks pre-built for blockchain development. A developer would need to piece together different solutions or code their own in order to launch their DAPPs.
XMax’s team stated that instead of waiting for other blockchain projects to launch their main chains and then rely on cross-chain technology to solve the communication problems between the chains, it is better to build an ecosystem specifically designed for entertainment DAPPs, hence, the scale of the XMax blockchain ecosystem.
Extension chains use “SPV wedges” to communicate with other blockchains, which enable users to use 3rd party tokens like bitcoin. In addition, XMax extension chains are independent, isolated systems.
Errors that occur in an extension chain will only affect the extension chain itself, which greatly reduces the risk and cost of experimenting with new DAPP models.
As an extension of the main chain, the extension chains expand the functionality of the main chain, and their flexible structural design can make up for the technical limitations of running only a single main chain.
Theoretically, the number of extension chains that can be accessed is infinite.
XMax will support fungible (currency) and non-fungible (asset) tokens (like Ethereum’s ERC721) system, and also allow 3rd party currencies like Bitcoin and Ether to be used with the XMax system.
The main chain provides an extension chain for non-fungible asset tokens to support cross-chain trading.
By introducing non-fungible tokens, we can tokenize valuable digital items for use in crowdfunding developer projects and building dedicated userbases.
Combining community building with tokenized assets will help increase user retention and help indie companies build an active community around their games during development. In the future, all virtual assets or even “real-world” assets can all be linked and traded in XMax.
Entertainment is only the beginning for XMax. Since the project sponsors and investors have a background in the entertainment industry, including developing their own 3D Game Engines, leading top-tier film companies and running successful game studios. This is why the XMax project is focusing first on entertainment.
XMax hopes that the media production process will be improved by blockchain technology, allowing for an individual’s efforts to be fully digitized and valued. The XMax team firmly believes that the future of blockchain adoption will coincide with the growth of blockchain communities.
Every community on XMax is a small “Galaxy” and will have its own AI smart-contracts, consensus mechanisms, and incentivized token economies.
We believe that with the appearance of XMax, the blockchain industry will be ignited as blockchain DAPPs reach more developers and users through the next-generation of decentralized games, movies, and social media.