The chain

X Coin is a hard fork of the Ravencoin code. It keeps the parts that work well, like coins, addresses and named assets, and replaces mining with a one-minute lottery tied to X accounts.

At a glance

Coin: XFER. 1 XFER = 100,000,000 xferons.
Block time: About one block per minute.
How blocks are made: A lottery, not mining. No proof-of-work.
First block: Height 0, the genesis block: 12 September 2026, 3:16 AM ET. It pays nothing.
Block reward: 5000 XFER per block at the start, split among that minute's winners.
Halving: Every 2,100,000 blocks, about every 4 years. Each halving adds one more winner per minute.
Total supply: About 21 billion XFER over the life of the chain (20,999,994,999.727).
Launch: Fair launch. No premine and no founder allocation.
Network fee: 0.01 XFER per kB. It goes to that block's lottery winner.
Addresses: Start with X.
Backup: 12 words (BIP39). The same words work in the web wallet and the desktop apps.

Blocks and heights

A block is a page in the shared ledger. It lists payments and pays the lottery winners. Each block has a height: 0 for the first, 1 for the next, and so on.

Each height has its own minute, called the slot. The slot is the genesis minute plus the height. One height, one slot, one payout. A height cannot be paid twice or skipped.

At most one block is made per minute. If blocks fall behind, the chain catches up one block per minute. It does not burst.

Supply and the halving staircase

Height 1 paid the first 5000 XFER. Every 2,100,000 blocks the reward halves: 5000, then 2500, then 1250, and so on. Each step also adds one winner to every draw, so the smaller reward is shared more widely.

The explorer's Stats page draws this as a staircase. The lit step is the current era. Over the life of the chain that adds up to about 21 billion XFER.

There was no premine. Every XFER that exists was paid by a lottery block after height 0. Coins spent to create assets are sent to burn addresses nobody can spend from.

Who makes blocks

Each minute, the chain draws winners from the desktop nodes that are signed in with an X Verified account and heartbeating. The draw uses the last block's hash and the slot, so anyone can check it. Full details: The lottery.

Today one seed node writes and signs every block. Every other node checks that block against the rules before accepting it. See Decentralization.

A lottery payout has to wait 100 blocks, about 100 minutes, before it can be spent. Normal payments are spendable as soon as they confirm.

Nodes and seeds

A node is a program that keeps a full copy of the chain, checks every block, and passes blocks and payments to other nodes. The Light and Heavy desktop apps are nodes.

There are no public DNS seeds. The desktop apps ship with the address of a seed peer to connect to first. After that they learn about other peers. Nodes talk on port 38443.

The seed node is the first node and the one that signs blocks. It is not in the lottery and cannot win it.

Assets on the chain

Assets are built into the chain, not added by a smart contract. A name like NAME, NAME/PROJECT or NAME#ITEM is recorded on the chain along with who holds it.

On X Coin you get one free root name from your X handle. You make everything else under it. See Assets 101.

X Coin vs Ravencoin

Kept: Coins and addresses, the 12-word wallet, named assets, sub-assets, unique assets, IPFS files.
Replaced: Mining. X Coin has no proof-of-work. Blocks come from the minute lottery.
Added: Sign in with X, one free root name per X account, the lottery, and sharing lottery wins with guests.
Removed: Restricted assets, qualifiers, tags, and freezing.
Separate: Its own genesis block, network, ports and addresses. It is not a copy of Ravencoin's coins.

The code is open source under the MIT license: NiftyRaven/x-coin.

For the curious

Numbers from the code

Subsidy: 5000 XFER shifted right once per halving. It reaches zero after enough halvings.

Winners per minute: 1 + (height ÷ 2,100,000), rounded down.

Main network ports: 38443 for nodes, 38442 for RPC on your own machine only.

Wallet path: BIP44 coin type 3844.

The wiki explains how the software works. It is not legal, tax, securities or financial advice. Rules differ by country and change over time. Nothing here is a promise that XFER or any token will have value. Terms of Use.