ColossusXT — 2nd Year In Review & A Glance To The Future

4 min readJan 15, 2020

While we left behind a year full of blood, sweat and tears, COLX kept building new relationships and reinforcing existing collaborations. Throughout the bear market, COLX took massive hits to its momentum due to several reasons, namely Cryptopia -as COLX’s earlier main exchange- being hacked & shutdown, bad actors like Tradesatoshi Exchange dumping ColossusXT owners coins, Cryptobridge shutdown and CryptoEmporium stealing the integration fee from the ColossusXT community crowdfund and refusing to integrate ColossusXT.

COLX kept on fighting for delivering targets, however, some technical vulnerabilities affecting the source code of most coins showed up & needed to be prioritized like fake stake attack & problems in zerocoin library (which were addressed accordingly).

All these unexpected technical issues eventually required more development hours as we were required to apply focus towards solutions for each of these instances. Weather it be development hours or engaging in the legal process which ultimately proves to be slow moving. Regardless of the bad actors and unfortunate events, ColossusXT continues to make headway in several fronts including technical developments, partnerships, and exchange opportunities; but due to these unforeseen circumstances there have been some delays in the development of the Colossus Grid; these delays do not mean we have stopped building we have; simply put had to apply those hours towards the vulnerabilities.

Despite all the things faced through, ColossusXT development continued; Armis entered Beta testing stage and we target to prepare a new build for the gamma testers in the coming months as we continue to push towards Armis going live; as we move forward through Armis, we will again be applying the majority of our focus towards the Colossus Grid.

We have recently released the ColossusXT business plan for 2020+ which includes additional benefits to masternodes with Colossus Grid while the need, solution, market, predicted use cases, new model and coin economy are discussed. In 2020, our focus will be on attracting new investors to increase the pace of development through various channels like angel investors, blockchain investment companies and also on creating meaningful partnerships with relevant crypto/non-crypto entities for highlighting mass adoption.

We will remain focused on unifying and improving systems, tools, technologies, and processes — all aimed at building a stronger platform capable of better serving the evolving needs of our clients and the crypto community.

Accomplishments

A look back on COLX’s second year:

Looking forward

Reflecting now on our accomplishments, our unified organization is strategically positioned to promote successful collaborations, innovations, and problem solving. Our combined efforts and partnerships with blockchain entities will enable the continuation and further development of ColossusXT’s mission. We will work with purpose to provide services that enrich the crypto experience and pioneer protecting the user through privacy technologies. By focusing on improving operational excellence, we can ensure every client interaction is simple, correct, and direct — delivered with empathy, efficiency, and pride. Our emotional connection to the work motivates us to make a positive impact on the world. Thank you for being part of our unique project.

COLX Team

ColossusXT LLC is a registered business in Wyoming, USA.

Website: https://colossusxt.io/
Twitter: https://twitter.com/ColossusCoinXT
Discord: https://discord.colossusxt.io
Telegram: https://t.me/@colossuscoin
Facebook: https://www.facebook.com/Colossuscoin/
Reddit: https://reddit.com/r/ColossuscoinX/
GitHub: https://github.com/ColossusCoinXT/
Governance: https://governance.colossusxt.io
Wiki: https://wiki.colossusxt.io
Email: business@colossusxt.io

ColossusXT — 2nd Year In Review & A Glance To The Future

Written by ColossusXT