Xcpinata is a digital currency created in 2018 and designed to facilitate fast, secure, low-cost transactions on the Ethereum blockchain. It was developed by an anonymous team of developers using open source code and is intended for use as a peer-to-peer payment system. Xcpinata has been designed to be deflationary with a maximum supply of 21 million coins that will ever exist and no additional tokens can be minted or mined.
Using Xcpinata requires an Ethereum wallet which can store Ether (ETH) as well as other ERC20 tokens such as XCP. Once you have set up your wallet, you can purchase some ETH from an exchange like Coinbase and then send it to your wallet address. From there, you can buy some XCP using any decentralized exchange like Uniswap or Bancor Network where prices are determined solely by market demand.
Once purchased, you’ll need to store your XCP safely either in a hot or cold wallet depending on how often you plan on accessing them; cold wallets offer better security but require more effort when making transactions while hot wallets are easier to manage but less secure due to their connection with the internet being constantly open.
When transacting with someone else who also owns XCP, funds can easily be sent directly from one person’s wallet address to another without needing permission from any third party service provider – this allows for near instant payments at very low cost compared with traditional fiat currencies and most other cryptocurrencies out there today! The transaction process works similarly to Bitcoin’s; however since it uses smart contracts instead of mining blocks, it requires much lower processing power resulting in faster confirmation times than Bitcoin’s 10 minutes per block average time frame – thus allowing users greater freedom over their finances!
