Updated: Feb 11, 2020
Bitcoin Rhodium is a project that has one of the most interesting use cases I’ve seen in my 11 years in Bitcoin and the blockchain space. Over that time I’ve studied and reported on countless projects but none since Bitcoin are as in-depth and thought out as XRC.
Bitcoin Rhodium is not a fork of Bitcoin [BTC] and operates on its own proprietary blockchain.
The Bitcoin XRC blockchain is programmed in C# language which makes it apt and readily available for future applications to be developed upon. XRC block consensus is reached through PoW [proof-of-work] only. One illuminating feature of XRC’s future success and vast potential is a partnership with FreeMarket ONE.
The Bitcoin Rhodium name is quite a clever one; Rhodium is a chemical element with the symbol Rh and atomic number 45. Rhodium is a very rare silvery-white, hard, corrosion-resistant, and chemically inert transition metal. It is a noble metal and a member of the platinum group. It has only one naturally occurring isotope, ¹⁰³Rh. The Bitcoin Rhodium core team obviously named their project after this rare metal to imply scarcity in the project and it also has great overlap with the use case of exchanging metals through their work with FreeMarket ONE.
FreeMarket One combined with XRC will enable and optimize TOR Browser’s features to voluntarily exchange with others world over with complete anonymity in a brand new methodology. Voluntary exchange is capitalism in motion and the combination of XRC and FreeMarket ONE has the ability to create great utility for the market; moreover, with their approach to anonymity, privacy, and sound token economics the future of XRC looks very bright.
The unique marketplace ties with FreeMarket ONE is not the limit of XRC’s goal of anonymity; moreover, the team is currently determining which of the anonymity spaces to join in the near future. The core members of the project will make the determination on which space suits XRC the best and move forward on implementing it in 2020.
Bitcoin XRC has also nailed the most important concept outside of trust-minimization to encourage a project’s success; token economics. Bitcoin XRC’s total supply of coins will be 2.1 million fixed. The eventual supply of 2.1 million is just 1/10 of Bitcoin’s finite supply of 21 million. So, automatically XRC is 9x more scarce than Bitcoin and therefore less coins will be in circulation at all times. The current circulating supply of XRC is 835,475 at press; furthermore, less than half of the total supply has yet to be mined and the project is still gaining in notoriety and popularity.
With 2.1 million total supply in the future and a vast breadth of utility, XRC has a great deal of potential to emerge as a great store of value asset over time.
The current price of Bitcoin XRC is $6.16. The all-time high of the project is $49.32 which was reached in April of 2019. Total Market Cap is currently over $5 million dollars at $5,145,121.
XRC and their link to FreeMarket ONE and the brilliance of this concept can’t be understated. The ability to transact using XRC’s blockchain to exchange without a central intermediary.
FreeMarket ONE has their road map for 2020 available on their site here. There, you can see what will be accomplished quarter by quarter for 2020. Their proposition is that through this anonymous P2P marketplace, cryptocurrency lovers and investors of specie money [precious metals] gold, silver, platinum, etcetera, will be have a way to settle contracts in a trust-minimized fashion with the XRC coins fueling the exchanges. According to the white paper, precious metal partnerships will be made and fuel this paradigm in 2020+.
Another unique feature of this blockchain is the Bitcoin XRC Strong Hands programme. I’ll breakdown this program further in next weeks article on XRC but the program encourages investors in XRC to hold the asset and rewards them every 3 months with a percentage of the distributed rewards for that cycle. This sort of programme encourages long term holding and with a distributed community throughout the world also encourages the breadth of sweat equity XRC adopters will put into the project to help it reach its full potential.
With proper token economics, FreeMarket ONE enabling barter of precious metals, The Strong Hands Programme, strong development, PoW consensus, Bitcoin XRC should emerge as a staple for a long time in the blockchain community.
The European XRC Team has set forth a road map for success moving forward and I’ll be breaking down the most integral aspects of this project in coming weeks, stay tuned.