|Market Cap / Market Rank||$105,166,607 USD / #421|
|All-time high||1.956128 USD|
|All-time low||0.113738 USD|
|Circulating supply||53,767,271 OXEN/ 53,767,271 OXEN|
|Total Value Locked (TVL)||–|
What is Oxen?
Formerly known as Loki, Oxen is a developer platform focusing on privacy tools. Through Oxen, developers can easily create software programs with greater security, privacy, decentralisation, and safety. After rebranding from Loki to Oxen in early 2021, the project has grown steadily, and its PoS network now boasts over 1,600 incentivised nodes. Oxen’s anonymous and powerful PoS network is already being put to use, and it provides the network infrastructure for a secure messaging platform called Session. Through its Oxen blockchain, network, and technology stacks, Oxen offers users various tools, libraries and other end-user products to overcome some of the challenges in the digital security landscape.
The brains behind the Oxen project are Simon Harman (CEO), Christopher McCabe (COO), Kee Jeffreys (CTO) and Josh Jessop-Smith (CMO), who first met at the Melbourne Blockchain Center back in 2017.
How Does Oxen Work?
The main aim of the Oxen cryptocurrency is to provide tools and services to users looking to leverage decentralised blockchain technology to achieve unparalleled privacy and security. The project’s proof-of-stake implementation, Pulse, makes the token stakeable. The huge global network of Oxen Service Nodes is considered the foundation of the entire network. Oxen also has a revolutionary instant anonymous payments system called Blink. It powers instant transactions with absolutely no security or privacy issues. This makes OXEN the world’s first token with no compromise on instant transactions.
The team behind Oxen has already come up with two end-user products:
What is Session?
Session is Oxen’s anonymous encrypted messenger which has amassed almost 100,000 active monthly users. To minimise metadata leakage, it uses public-key-based cryptography and onion routing. It offers a fully anonymous account creation function, without requiring any identifying information. Users can communicate in full privacy via one on one chats or small close group chats which are fully encrypted. Users can use Session as a basis for applications or services relying on real-time communications and notifications. Session has the crucial advantage of not having to provide any phone numbers or reveal their IP addresses.
What is Lokinet?
Lokinet is Oxen’s cutting-edge onion router that relays traffic using the Oxen Service Node Network. It can route both User Datagram Protocol and Transmission Control Protocol traffic using network-layer onion routing. This makes Oxen ideal for secure and anonymised video streaming, video and voice calling and other bandwidth uses that competing onion routers do not offer. If implemented correctly, Lokinet can allow developers to modify existing web applications, completely anonymising its incoming and outgoing network connections. Developers can also use Lokinet’s exit node functionality to access clearnet addresses. This function allows users to browse the normal Internet with the added privacy and security protections that Lokinet has to offer.
What does Oxen do differently?
Perhaps the most important and crucial aspect of Oxen is its privacy stack which includes Session, Lokinet and Oxen Name System or ONS. The ONS is a registration system allowing users to burn OXEN to purchase temporary or permanent domain names for Lokinet services or usernames for Session and Oxen wallets.
Oxen’s privacy stack has endless possibilities as developers can leverage a myriad of tools, features, protocols and libraries. This allows them to create a new tool with superior privacy and security. These technologies can also be plugged into existing stacks to provide them with better privacy and security when interacting with products.
As mentioned before, the possibilities are endless if developers use Oxen’s privacy stack. Here are some examples of what can be created using the Oxen stack.
- A virtual LAN functionality, allowing private networks to be built on public internet networks.
- A messaging system that leverages the swarm protocol
- An onion VPN marketplace
- A P2P networking replacement library
- An encrypted voice and video call service
- An encrypted app that can compete with Slack or Mattermost.
Oxen Market Dominance and Dynamics
At the time of writing (13/04/2021), OXEN has a market cap of $105,106,989.51 and a 24hour trading volume of $445,557.62. It has a total circulating supply of 53,767,271 OXEN.
Oxen Partnership and Deliverables
Oxen has secured multiple important partnerships before its rebranding from Loki with one of the most important partnerships being that with Arweave. Berlin-based Arweave is a data storage blockchain protocol, which has partnered with Oxen(formerly Loki) to create SILO. SILO allows users to create and maintain private websites with added security. Through SILO, users can create and maintain permanent, private web pages, allowing users to access and communicate with them anonymously. SILO will use Oxen’s platform transport security layer for interactions and anonymous network access.
Oxen ICO Details
OXEN’s Initial Coin Offering was conducted more than three years ago from 1st March 2018 to 27th March 2018. As of 12th February 2021, Oxen had a $2.10 ATH price which allowed investors to sell this position with a 3.08x Return on Investment.
Oxen Project Listing
The OXEN token is available for trading and purchase on a variety of different exchanges, paired with both BTC and stablecoins. It is listed in exchanges like TradeOgre, Uniswap(V2), Bittrex and Kucoin, spread across a total of 7 markets. You will get OXEN tokens paired with BTC, ETH and USDT in Kucoin and paired with BTC and USDT in Bittrex. TradeOgre only has a singular OXEN/BTC market. OXEN also has a wrapped ERC20 version of its token called wOXEN, which is listed on Uniswap. The wOXEN and OXEN tokens can be swapped on a 1:1 ratio using wOXEN bridge.
According to its roadmap for 2021, Oxen has several exciting updates on the horizon. For Session, this includes a monetisation scheme, encrypted and onion-routed voice calls, removal of Proof of Work, and a visual overhaul of the app. Plans for Lokinet include a VPN marketplace for, and multi-casting traffic – which will allow for things like onion-routed video conferencing with many users in a single call. . The project can be perceived as not only an anonymous and stakeable cryptocurrency, but also as the backbone of the growing class of security and privacy tools running on its network.
Disclaimer: Do your own research related to the promoted company or any of its affiliates or services mentioned in the article. Coingape.com does not hold any responsibility for your damage or loss.