What is Experience Points? Beginner’s Guide to Real Life XP – CoinCentral

What is Experience Points?  

What if you could go through life earning feel points for just going about your day ? Picking up groceries ( +500XP ), shooting the bull with your buds on your darling message app ( +200XP ), or sitting down for dinner with your sweetheart at your darling Asian-American fusion gastropub ( +1000XP ) .
If it sounds like you ’ ve entered some IRL video recording gaming landscape, don ’ t worry : this international relations and security network ’ t some virtual reality-ruled dystopia like Ready Player One. It is, however, a rewards system that will make life play out like an RPG–a role-playing game where the character is your own and the game is biography itself .
It ’ randomness called Experience Points, and as its mission suggests, it wants to bring XP off the screen and into your casual act. The project is building a sharing economy for all aspects of life, anything from daily purchases to tourism, all driven by the XP coin. With Experience points, distribution is limited lone to adoption and acceptance ; if an industry or service adopts the visualize ’ south mannequin, you can earn XP coin for your casual experiences .

How Experience Points Works

As one might expect, Experience Points has some immediate relevance for on-line bet on communities. It ’ second coin, XP, offers gaming ecosystems a self-sufficient economic model where it can be used for purchases, in-game rewards, and player-to-player transactions.

however, the Experience Points team wants to take this model and superimpose it on to real life interactions and transactions. Basically, consumers and residential district members can be rewarded in XP for interacting with a avail or entity that has adopted the Experience Points platform, such as attending a concert or buying a meal at a restaurant that uses XP. Users can then spend their XP at participating locations, allowing them to take the experience they ’ ve gained and put it second into the XP-based economy .
Experience Points uses
ultimately, Experience Points is looking to unite actors from all walks of life and facilitate cooperation between any industries uncoerced to adopt it. The end product would be a real-life experience economy that links gambling, tourism, consumer industries, social media, entertainment, and more into a coordinated ecosystem .

Experience Points Pentanode System

In orderliness to secure network integrity and ensure distribution of XP across targeted industries, Experience Points employs a quintuple node system. Each node fulfills a specific function for the Experience Points ecosystem .

Masternodes:

experience Points operates under a Proof of Stake model, so the masternodes serve your typical PoS consensus mechanism. They promise ( approximately ) a 50 % annual render on investment and require a minimum 50mln XP to operate. Nodes that hold more than the minimum will receive the same hourly recurrence ( approximately 2,800XP ). This disincentivizes hoard and encourages users to establish more nodes to support the network .

Supernodes:

This node requires 1bln XP to operate and promises an approximate 200 % annual render on investment. however, the 1bln commit XP will be burned upon setting up the node to keep operators from dumping coins when they reach a profit target. This ensures that only good investors who believe in the future of the project will seek out supernodes .

Salesnodes:

These nodes will be distributed to vendors, retailers, and shop owners who want to adopt XP for requital and/or promotional reasons. They ’ ll function like masternodes, except that the stake can not be split up, sold, or moved. Staking rewards will be used to distribute XP to customers per the seller ’ mho free will, but these rewards will be capped at 150 % of the original stake to make sure that funds are actually being redistributed and aren ’ deoxythymidine monophosphate laying dormant .

Devnodes:

Devnodes are like salesnodes except for the on-line universe, and they ’ ll be granted to developers to use with their on-line products. Like Salesnodes, the impale XP can not be broken up or moved out of the node–the operator can not access the funds at all. They can entirely be distributed through the XP API to promote circulation among platform users, and for devnodes, any impale rewards that are not redistributed within 10 days of being earned are immediately burned. This is meant to encourage developers to pump XP into the organization and accelerate the coin ’ s adoption on their platform .

Geonodes:

Geonodes connect Experience Points users to the physical global. These nodes will be responsible for distributing XP to individuals who visit a specific location, monument, or other drawing card. Simply by showing up and scanning a QR code, you could receive XP for visiting a democratic tourist hot-spot or a museum, thus retentive as it ’ south connected to a geonode .
Experience Points Ecosystem

Experience Points Use Cases

It should be noted that salesnodes, devnodes, and geonodes are staked with the specific function of circulating XP for the ecosystem ’ s adopters and consumers. As such, the coins are effectively ( not literally ) burned when staked as they are taken out of the circulating issue and used entirely to redistribute impale rewards for users .
These rewards could be distributed across a number of industries, and hera are just a few examples of likely practice cases :

For salesnodes:

Say Molly owns a restaurant called Smack Yo Mama Mac. She wants to create a rewards system for her restaurant, wherein for every 10 meals a customer purchases, they receive 5,000XP. They can then use the XP to purchase their next meal if they desire. In another case, Angela runs a massage and hot spring watering place in New Mexico. With Experience Points, she sets up a referral program that awards customers 3,000XP for each newly person they bring to the health spa .

For devnodes:

Carl runs a lyric learning messaging app that allows its users to interact with individuals in multilingual new world chat rooms. If one user offers another user helpful linguistic process coaching or tutoring on the app, that individual can tip the other in XP for the aid. Carl besides runs a recipe sharing app. Using XP, Carl can rewarded recipe contributors for their additions to the application ’ second recipe book.

For geonodes:

The tourist office in Edinburgh wants to encourage sightsee, so they decide to set up an feel Points genode for this function. Rewards could take many forms, including awarding users per distance walked on the Royal Mile, giving them 4,000XP for hiking Arthur ’ south Seat, or gifting them 2,000XP for visiting Edinburgh Castle .

Experience Points Team and Roadmap

edit : Since print, the project has removed the team section from their web site .
On the project ’ s web site, the only team data comes as a list of pseudonymous, emoji-represented members without LinkedIn profiles. This has given some investors pause in the past, but for what it ’ sulfur worth, the team keeps an active Discord, Telegram, and Github. If they ’ re legit, it appears that they ’ d rather remain anonymous .
Experience Points team
The project ’ second roadmap seems to focus on playful comedic illustrations to get its goals across, and these goals include rudimentary milestone descriptions and reasonably concrete deadlines. For 2018, the team hopes to tackle ball-shaped on-boarding by offering developers and businesses a kit to get started with their own node, establish an feel Points market for service/product list and requital, and create an freelancer developers portal for the XP ecosystem .

Experience Points Trading History

At the vertex of the 2017/2018 holiday bullrun, Experience Points peaked into the top 100 with a $ 1bln grocery store cap. As it stands now, the mint is ranked # 141 on CoinMarketCap with an asking price of about half a penny .
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Where to Buy Experience Points

To acquire some XP, you ’ ll have to go a bit off the beat path. CoinExchange accounts for the majority of the mint ’ sulfur deal volume, and you can trade for it with either BTC or DOGE ( seriously ). The adjacent largest market comes from CrytpoBridge, but this lone accounts for roughly 3 % of 24/hr trade volume in BTC or MONA. XP does not trade for ETH on any of its host exchanges .

Where to Store Experience Points

The entirely wallets available for XP are the core wallets offered on the project web site. These include software wallets for Windows, Mac, and Linux, along with a mobile wallet for Android and a newspaper wallet .

Final Thoughts

In its stream stage of development, Experience Points is more gear towards online gaming platforms and services. Its approaching development kit out will make it easier for developers to integrate the coin into their games for in-game rewards and purchases, a well as giving users a coin to develop a player-driven economy .
Adopting this token for gambling purposes is one thing, but seeing XP in real earth practice is another. A cool concept ? possibly, even if a little moment far-out. quixotic to think that the concept will become a reality ? potentially, but it all depends on whether or not some retailers, businesses, and industries see rate in using a exemplary like XP to incentivize occupation. If they do, and a few get the ball seethe, who knows how far it will go ( and who/what it will pick up along the room ) .
All of this said, the miss of team foil has troubled some, while others say you equitable need to get involved in the experience Points community to get some screen clock time with the men and women behind the project .
Assuming the project is legit, watching it expand will be an feel in its own right. If it does expand well, who knows : it may mean that your future trip to New York could give you XP for taking a slip to Ellis Island or crossing Time ’ second Square .
Additional Resources:

Website
Whitepaper
Subreddit

source : https://tuvi365.net
Category : QUESTION COIN

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