Internxt (INXT) Rises as Some Companies Started Using X Cloud’s Beta

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by Julia Sakovich · 3 min read
Internxt (INXT) Rises as Some Companies Started Using X Cloud’s Beta
Photo: Internxt / Medium

X Cloud developed by Internxt is gaining popularity being adopted by a number of companies, which results in the growth of INXT value.

In the beginning of the year a blockchain startup called Internxt announced the launch of the first decentralized internet service – X Cloud. In January, CoinSpeaker reported that the startup was going to release alpha version of their product.

The main mission of Internxt is to change people’s lives offering them the Internet of new generation which is built on the base of distributed and decentralized technologies. According to the project’s team, the cloud platform can guarantee total security of stored data and files, absolute privacy and simplicity of usage, replacing such giants as iCloud, Google Drive, OneDrive and Dropbox.

The startup also issues its platform’s native token known as Internxt token (or just INXT). The token can be used for payments for X Cloud services including data storage opportunities. Moreover, it is also possible to use INTX for paying for resources of other users’ machines that are offered for hosting data.

With such an attractive offer, there is no wonder that the project and its token have attracted significant attention which has had its impact on the price of INXT. For less than a month last December the price increased by 600% and reached $25,23.

After this enormous hype the situation has already changed for several times. Nevertheless, following the release of beta version and attention from the side of a number of companies (which is actively covered by Internxt on its Twitter account), the price has started to increase again. Now the token is traded for $3.13 having gained nearly 8% over the period of the last 7 days.

The company has been actively working on the improvement of its product and of its token as well. Though the currently existing token economy has stayed untouched, starting from its beta release, the reward for hosts depends on the amount of INXT that they hold.

But, obviously, it is not the only change that has taken place in the project. X Cloud Beta is absolutely free for users which undoubtedly will greatly contribute to expanding of the client base. As the team explains in its blog post, they believe it is unfair to make users pay for the product that is still in development.

Moreover, it is very important to encourage as many users as possible to take part in testing of the infrastructure. That’s why the platform will take fees for its services only after its commercial release that is planned to happen Q4 this year.

Internxt has also taken a decision to buy INXT tokens from the market for each new X Cloud user who signs up to join the platform. Such a move from the side of the company will help to cover the costs and to ensure a high quality and effectiveness of X Core network performance.

Beta version of X Cloud is already used by a number of companies including Singaporean startup Boosto, education startup H-Network, digital payment system Wixlar, Estonian blockchain startup Musards and many others. But Internxt believes that it’s only a beginning of their long way.

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