About Xahau
Enterprise L1 blockchain with account-based programmability
The Network
What is Xahau?
The short explainer
Xahau is a L1 blockchain with a unique composition of features and a fresh approach to blockchain programmability, also known as smart contracts.
The long-term proven technology settles transactions in ~4 seconds at very low costs down to fractions of a USD cent. It is scalable, currently with up to 10,000 transactions per ledger, and is an inherently green and energy friendly blockchain.
Xahau offers native features for issuing and trading currencies on the built-in decentralised exchange, native non-fungible tokens, and endless opportunities for DeFi with custom logic through Xahau smart contracts, known as Hooks.
Hooks lives on accounts, making it a fresh take on how custom logic can be used to act on account-based events, such as receiving transactions. Hooks are currently developed in C, but JavaScript support is already developed and in testing, with other programming languages in the scope as well. This makes the world of smart contracts available, without a steep learning curve, to millions of developers.
The Protocol
What is the technology
behind Xahau?
Xahau is proven technology, as it is an evolved iteration of the XRP Ledger code, enhanced with smart contract, account-based programmability (Hooks), and equal support for issued currencies in native features such as escrows and payment channels.
Xahau, like the XRPL, uses a Federated Consensus mechanism as its method of validating transactions. Transactions are confirmed through a consensus protocol, in which designated independent servers called validators come to an agreement on the order and outcome of transactions. All servers in the network process each transaction according to the same rules, and any transaction that follows the protocol is confirmed right away. All transactions are public and transparent, and anyone can operate a validator.
Xahau introduces a governance game to ensure a community-centric approach towards decision-making of the network. To play the game, the members of the tables cast votes. The topics discussed on this 2 layers table system include seats, hooks and rewards topics.
The Currency
XAH, the native
currency of Xahau
The native currency on Xahau is called XAH and is an inflationary currency. Every account can participate in balance adjustment by interacting with a Hook on the genesis account, monthly accruing 4% of the account balance.
XAH is used to prevent network spam, by adding a cost of transacting. Normal transactions cost fractions of a XAH, while the price of transacting increases if interacting with Hooks. XAH is also required as a locked balance, or reserve, to own an account, own objects, or storing data for smart contract consumption.
Because of Hooks, the burn-rate of XAH is higher compared to that of XRPL. For projects that rely on Hooks for custom logic, it is recommended that they keep a balance of XAH that can generate a monthly balance adjustment to pay for fees.
