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What is XFT

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1. What is XFT?

Offshift (XFT) Cryptocurrency Introduction

Offshift is an emerging cryptocurrency with the following features:

  1. Anonymous Transactions: Offshift provides the functionality for anonymous transactions, allowing users to trade online without exposing their identity and transaction information.

  2. Privacy Protocol: Offshift employs a privacy protocol that protects users' transaction and account information.

  3. Security: The primary goal of Offshift is to provide user privacy and security, ensuring that users’ transactions and information are protected.

Offshift has both an old version (Offshift [Old]) and a new version (Offshift [New]), with both focusing on user privacy and security.

2. Who founded XFT?

Based on the provided information, it is not possible to directly determine who founded the cryptocurrency XFT (Offshift). The search results mainly provide basic information about XFT, its price, and features, but do not mention its founder. Therefore, specific information about the founder cannot be provided.

3. Which venture capital invested in XFT?

According to the provided search results, no direct investment information regarding the cryptocurrency “XFT” was found. However, here are some investment details related to the cryptocurrency and NFT sector:

  • Axie Infinity: Its parent company Sky Mavis completed a $7.5 million funding round in May 2021, led by Libertus Capital, with participation from Blocktower Capital, Konvoy Ventures, Derek Schloss, Stephen McKeon, and Dallas Mavericks owner Mark Cuban.
  • OpenSea: In March 2021, it secured $23 million in Series A funding led by a16z, with various angel investors such as the Cultural Leadership Fund, Ron Conway, Mark Cuban, Tim Ferriss, Belinda Johnson, Naval Ravikant, and Ben Silberman participating; in July, it completed a $100 million Series B funding round also led by a16z, with a post-funding valuation of $1.5 billion.

This information does not have a direct relation to “XFT,” possibly because “XFT” is not a widely recognized cryptocurrency or NFT project.

4. How does XFT work?

The operational principles of the XFT cryptocurrency are similar to most cryptocurrencies and are based on blockchain technology. Here are its basic operating principles:

  1. Blockchain Basics: XFT cryptocurrency utilizes blockchain technology, which is a decentralized ledger documenting all transactions on the network. It is maintained by a network of computers rather than a central authority, making it difficult to alter or tamper with.

  2. Transaction Records: Each transaction is recorded in a block, and the blockchain is a collection of these blocks. Each block contains detailed information about the transaction, including participants, transaction time, amount, etc.

  3. Consensus Mechanism: The majority of participants in the blockchain network must agree on the validity of recorded transactions. This is typically achieved through consensus algorithms, such as Proof of Work (PoW) or Proof of Stake (PoS).

  4. Cryptographic Techniques: Transactions are protected using cryptographic techniques, ensuring the security and anonymity of transactions. Each user has a public and private key; the public key is used to receive cryptocurrency, while the private key is used to unlock and send cryptocurrency.

  5. Mining Process: The creation of new blocks is usually accomplished through a mining process, where miners use computer power to solve complex mathematical problems to validate transactions and create new blocks.

  6. Transaction Verification: Each block contains a cryptographic hash that links blocks together, ensuring the integrity and immutability of the blockchain.

In summary, the operational principles of XFT cryptocurrency are based on blockchain technology, utilizing a decentralized ledger, consensus mechanisms, cryptographic techniques, and the mining process to ensure the security and transparency of transactions.

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