XEN Crypto, created by one of the senior engineers at Google Jack Levine, was the source of irregular Ethereum traffic. The token was responsible for deploying 40% of gas units last October.
What is XEN Crypto?
XEN is a new cryptocurrency created with the goal of making the blockchain more decentralized, transparent, peer-to-peer, and peer-to-peer. It is an ERC-20 token, which is a smart contract standard that runs on the Ethereum blockchain, with the aim of facilitating the work of developers.
Its creator Jack Levine and his team define their social mining project as a “global cryptocurrency,” accessible to everyone.
The token was first launched on the MEXC exchange which is currently the most liquid trading platform for the respective cryptocurrency.
The XEN price It opened at $0.006148 on October 9, 2022, and then peaked at $3.86 on October 20, 2022.
All participants in the XEN ecosystem can benefit from wallets compatible with the Ethereum network for XEN Instruments.
Because XEN puts ETH in deflation mode
Ethereum It is struggling to make good on its post-merger promise to become a shrinking company. The bear market and the decrease in transactions on the network worried enthusiastic users Digital currencies And the NFTswhich greatly reduces the running of non-fungible tokens on Ethereum.
The XEN cryptocurrency works through a sharing mechanism: to mint the token, all you have to do is pay the gas fee. Without a doubt, the launch of the cryptocurrency and the way it was purchased favored the latest growth recorded in 2022 for Ethereum.
In fact, the launch of Xen Crypto lowered the inflation rate of Ethereum From 0.21% to 0.13%.
A sharp increase in ETH transactions, generated by XEN at a good percentage, could turn into something very positive for the crypto market.
Should the demand for Ethereum increase simultaneously with the supply of ETH depleted, the market could change course, turning bullish.
This could therefore lead to Ethereum entering the promised deflationary mode before 2022, after that to merge.
Who is the man behind the XEN Crypto Project?
One of the first to work for the Internet giant was Jack Levine, a VIP investor who was born in Russia in 1974 and then moved to the United States with his family. In fact, he claims to be Employee No. 21 of Google.
From 2010 he started to be interested in bitcoin, became part of the crypto world and thus created the XEN project in 2022.
A project that Levine himself defines as “revolutionary” and one that could change the world, even in this downturn.
– Jack Levin (@mrJackLevin) October 31, 2022
Levin’s project is off to a very good start, but in a recent interview, the founder of the cryptocurrency argued that there was still a lot of work to be done and that the project would grow further, preferring to spread from generation to generation.
However, there is little doubt as to the identity of Jack Levine. Many theories believe that behind the face of Google employee 21, there is no Jack Levine, but rather Marissa Mayerthe first female engineer to be hired by Google and CEO of Yahoo from 2012 to 2017.