My Opinion on the Practical Design of Xi Coin

Due to my professional reasons, I often pay attention to new currencies to judge whether they are worth investing in. Recently, when I was chatting with friends, I happened to know the currency of Xibi, so I quickly went to the Internet to find its relevant information, do my homework, and find the results. as follows:
1. What is Xi Coin The full name of Xi Coin is "Ximalaya Currency", and its official exchange "Ximalaya Exchange" will be officially opened for access in April 2021. Currently (October 2021) is in the private placement stage, but it can be Fund your account (you need to pass KYC first). Hi Coin uses the Ethereum-based Quorum blockchain technology developed by JPMorgan Chase, and Quorum is a consortium chain solution. Hi Coin consists of two cryptocurrencies, namely:
Himalaya Dollar, English name: Himalaya Dollar, referred to as Hi Dollar, English abbreviation: HDO, with a constant ratio of 1:1 to the US dollar, is a stable currency Himalaya Coin, English name: Himalaya Coin, referred to as Hi Coin, English abbreviation: HCN, the price varies with the market The trend changes, the floating currency can be seamlessly exchanged between the two currencies

2. What are the features of Xi Coin that amazes me the most is that it has two currencies that can be exchanged for each other. The design of this dual-currency system takes into account the functions of asset preservation and appreciation space, and also brings its market value. The second feature that I care about is that it adopts the alliance chain and reserves the authorization method of the regulator from the beginning, which means that it is a multi-party supervision and multi-party authorization system. And some of these regulators can also be legal supervision departments, which can provide a very stable property security guarantee. It is not easy to convince many independent agencies and legal departments to use your property in an illegal form at the same time, right?
The third feature is that its stablecoin has a certain proportion of assets as reserves, and [allows an independent third party authorized by law to conduct asset audits], which is the most critical and allows independent audits. If independent third-party audits are not allowed, who knows how much the publisher's assets are? Then no one knows how much water the issuer has bet. If the issuer's reserve is much lower than the commitment, aren't these so-called stablecoins air coins? I haven't found any stablecoins issued on the market that allow independent third-party audits, none of them.

3. What problems does Xi Coin solve? First of all, it is based on the alliance chain, which means that it does not need to mine, and it does not need to pay so many costs in meaningless operations. These costs must be allocated to ordinary users. The actual manifestation is that the transfer fee is too high However, Xi Coin avoids this drawback, and the transfer fee can be very low or even negligible, which shows that Xi Coin is suitable for small daily consumption, and at the same time, there is no blockchain blocking problem without mining, and the transfer speed It can be done very quickly, in seconds, and it takes 3 or 5 days for bitcoin transfers to be confirmed. Have you all experienced it?

4. Background of Xi Coin The background of a coin is extremely important for most retail investors, because it is related to the prospect of the coin. If the development team is not strong enough, it means that there is no prospect. After many inquiries, the final I got the news that Xi Coin should be supported by some large financial institutions. It seems to be related to JPMorgan Chase. In fact, it can be seen from the previous introduction that Quorum itself is the technology of JPMorgan Chase. Although Quorum is open source, I want to use Quorum to develop Such a large-scale financial project would not be possible without the technical support of JPMorgan Chase. After all, Quorum's original application field is the inter-bank enterprise-level blockchain, so I think there are at least one or more banks behind Xibi.

My personal opinion on whether Xi Coin is worth trying. I think any coin with strong support is worth trying. For the coin whose development team is poorer than me, I am really afraid that it will run away. The strength of the issuing team is to decide one. One of the important factors of currency security, in addition to the appreciation space is also very important, I am a small retail investor, I buy a currency, of course I hope to make money and appreciate, those high concepts, lofty concepts The goal is to fly away at every turn. I don’t care. I only care about what benefits a currency can do to me. Don’t say I’m too realistic, because this is a very real problem in itself. Everyone needs to survive. Don’t spray. Some people say that any other floating currency may appreciate in value, such as Bitcoin, so since Bitcoin can appreciate in value, Xi Coin can also appreciate in value, so what is the difference? Moreover, the appreciation space of some well-known currencies is decreasing, and it is approaching the ceiling. So the remaining difference is the security issue, I just care about whether it will return to zero, don't talk about the belief in the currency circle, when it really falls, don't say zero, just drop by 30%, who the hell will run It's fast. Bitcoin can buy pizza before, but it can't buy pizza later? Who can guarantee it won't be cheaper than a pizza in the future? No one can guarantee it, and I wouldn't bet on it.
The situation of Hicoin is different. First of all, it provides a reserve fund that allows independent auditing and is regulated by law, which means that at least its stablecoin, HDO, will not return to zero, then the HCN associated with it will not return to zero. , because the two can be exchanged instantly, a currency will only return to zero when the development team runs away or no one buys or sells it, but the demand for value-added always exists. The existence of Fang, the development team will not run away, comprehensive judgment, at least my property safety is guaranteed

When I was looking for the information of Xi Coin, I also saw that some people said that Xi Coin was a liar, and my heart was not good, so I quickly contacted a few of them. To my surprise, none of these people had Xi Coin, half of them were I don’t have any coins or even a registered official website account, which makes me suddenly feel that this is not easy, because you believe that people who have no interest in it keep telling you that something is fake for no reason? Once or twice, there are still extenuating circumstances, and the road sees injustice, but what is the situation that continues? Make a living by telling everyone which product is fake every day? Professional counterfeiter? Besides, they didn't buy this coin, and it hasn't been officially listed yet. How did he get deceived? But what they said was so convincing, as if they had actually bought it, which made me wonder. It reminded me of the malicious slander of the Bitpay exchange. Could it be an organized and planned slander? Malicious extortion? Maybe this is what a new thing will inevitably experience when it grows up. In fact, this kind of thing is not new. The QQ group owner gathers a group of people to extort merchants in the name of cracking down on counterfeiting. I heard about it on the news. ?

Whether a coin is worth investing in, everyone has their own judgment, and it should be considered from an essential point of view. In fact, what do you rely on to choose coins now? To put it bluntly, don’t you just rely on hugging your thighs, Dogecoin hugs Musk, USDT hugs Bitfinex, JPMorgan Chase’s thighs are a bit thick, I have to hug