What is Infinity Economics?
Infinity Economics is a platform for people who value freedom as much as we do.
On October 31, 2008, Satoshi Nakamoto sent an e-mail to a group of people working for data protection in electronic data processing. That was the start of cryptocurrencies, and the creation of a new monetary system that exists outside the banking system. In his e-mail, Satoshi Nakamoto introduced a digital currency that works entirely independently of middlemen. He described an encrypted online exchange mechanism that permits two parties to exchange assets without revealing their identity. This currency was to allow people outside of the traditional banking system to send money to each another directly. Similar to an e-mail, but without transmission of personal data. He called this digital currency Bitcoin. It is the first and best-known cryptocurrency today.
The 8 million euro pizza
A well-known story tells of Laszlo Hanyecz, a pioneering Bitcoin miner, who was hungry on May 22, 2010. He offered 10,000 self-made Bitcoins for 2 pizzas in a forum. He didn’t care whether it was homemade or sent via a delivery service. At this time about, the 10,000 Bitcoins were valued at 30 Euro. A forum participant went for the deal and sent him two pizzas for around 18 Euro to his home address. In 2013, these 10,000 Bitcoins were worth around 8.8 million euros. That probably makes it the most expensive pizza in the world.
A new blockchain generation
Over the years, many more cryptocurrencies followed. These were mostly developed on the basis of the Bitcoin blockchain, and each generated their own coin. This technology is now reaching its limits, since it is technically no longer capable of processing the accumulated data at speed.
For this reason, a group of independent developers has come up with an improved blockchain based on the advanced NXT technology. They came up with the “Infinity Economics” blockchain platform and a coin (XIN).
The Genesis Process
On January 10, 2017, 9 billion XINCoins were generated by means of a Genesis process – something of a “big bang”, and entirely distributed to the largest founding community so far. Since then, the Infinity Economics platform has brought together the best of all blockchain developments and continues to bring the evolution of cryptocurrency to a new level.
Cryptocurrencies are independent of central authorities such as governments and banks thanks to their decentralized nature.
The journey of cryptocurrencies continues, though not quite as fast as before. While credit card companies can process up to 100,000 transactions per second, Bitcoin can manage a mere seven transactions per second. The lack of suitability mass market was the main reason why some developers got together to analyze and optimize the knowledge of previous cryptocurrencies and especially Bitcoin in 2012. From these findings, a new, improved Blockchain was developed: The Infinity Economics platform and the XIN Coin!
Our platform builds the foundation for endless use cases on the blockchain. The community’s ideas won’t be limited thanks to the sidechain and the testnet.