Question 1

What is the Current Price of XEL?

Accepted Answer

The current price of XEL, or XEL, is £ 0.03077902. Over the past 24 hours, the price has increased by +8.56%.

Question 2

So, What Is XEL?

Accepted Answer

XEL is a decentralized computational network that allows users to lease their spare computational power in return for XEL tokens. This process is often referred to as "crypto-mining". Unlike traditional blockchain-based systems, XEL uses an elastic protocol that enables a highly scalable and flexible infrastructure.

Question 3

Who Created XEL?

Accepted Answer

The XEL project maintains a certain degree of anonymity, with the creators and developers choosing to remain publicly unknown. Nevertheless, they have established a strong online and social media presence mainly on platforms like GitHub, where the progress and updates of the XEL project are regularly shared.

Question 4

How Does XEL Work?

Accepted Answer

The XEL project works based on the Elastic Project, which uses a novel blockchain model designed to allow users to freely run computation tasks. It essentially allows users to rent their computational resources, like CPU and GPU cycles, to solve complex algorithms and tasks in return for XEL tokens. The developers claim, in this way, XEL can be used as a decentralized supercomputer.

Question 5

How Unique is the XEL Token?

Accepted Answer

XEL's uniqueness lies in its elastic protocol, a type of blockchain technology designed to be flexible in the way transactions are validated and executed. This flexibility allows for the ability to handle both large and small computational tasks, making it a valuable asset for those needing significant computer resources.

Question 6

How Much XEL Is in Circulation?

Accepted Answer

The current circulating supply of XEL tokens is 91.7M, however, the project's total supply is reportedly 100.0M.

Question 7

What is XEL's Market Capitalization?

Accepted Answer

As of now, the market capitalization for XEL is £ 2.8M. This places XEL at the #1 place in the global cryptocurrency rankings.

Question 8

Where Can You Buy XEL?

Accepted Answer

XEL can be purchased on several cryptocurrency exchanges. However, the particular exchanges currently listing it for buying or selling are Bittrex, UPbit.

Question 9

How Is the XEL Network Secured?

Accepted Answer

Being a blockchain-based project, XEL's network security is reliant on cryptographic techniques to secure transactions and control the creation of new units. The project's developers claim, it is secured via a proof-of-work algorithm, thereby ensuring the protection of the network against fraudulent activities.

Question 10

How to Keep Your XEL Safe?

Accepted Answer

Just like any other cryptocurrency, the security of your XEL depends on how well you secure your private keys. It's always a good practice to keep your private keys offline, either in a hardware wallet or a securely written down piece of paper. Additionally, always use strong, unique passwords for your cryptocurrency wallets and enable two-factor authentication whenever possible.

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