Xelis XELIS
A from-scratch BlockDAG L1 with homomorphic encryption: Twisted ElGamal hides balances and amounts while fees stay plaintext, and a Kalman-filter difficulty controller smooths hashrate waves out of mining.
About Xelis
sources: official materials · verified 2026-10-13Xelis is a privacy L1 written entirely from scratch — not a fork — combining a BlockDAG topology with an account model encrypted under Twisted ElGamal: balances and transfer amounts are hidden homomorphically (the chain computes on encrypted state), while fees stay plaintext for spam control, and ZK proofs validate the transition conditions. The PoW pairs ChaCha8 with Blake3 to keep ASICs and FPGAs out in the CryptoNight tradition, so CPUs and GPUs mine the same algorithm. Its distinctive engineering detail is difficulty adjustment via a Kalman filter — a smooth controller that blunts hashrate-wave attacks where a whale mines during low difficulty and abandons the chain stuck at high difficulty. Lead dev Slixe came out of the DERO community (2018-2023); funding is a 10% block-reward dev fee rather than a premine, on the argument that a fee tracks emission and cannot exceed its configuration.
How it works
- Network
- BlockDAG + account model, from-scratch implementation (no fork)
- Consensus
- PoW with Kalman-filter smooth difficulty adjustment (anti hashrate-wave)
- Mining algorithm
- ChaCha8 + Blake3 (ASIC/FPGA resistant; CPU + GPU)
- Launched
- 2024-03 (fair launch, no premine)
- Hardware
- BOTH
Tokenomics — token & supply
- Ticker
- XELIS
- Maximum supply
- uncapped (emission schedule — verify current curve on explorer)
- Emission
- Fair launch March 2024, no premine; 10% of block reward funds development. Launch-window inflation measured ~+246%/yr by independent analysts, decaying with the schedule.
- Reward now
- see explorer for live reward
Reference material
cited on this page · links verified 2026-10-13Who to watch
sensors, not shills — verify before actingRisks
Launch-window inflation was extreme (~+246%/yr measured during 2024 heavy emission) — dilution has been the dominant force on holder returns; verify the current curve on the explorer before any position logic.
Dev funding is a 10% block-reward fee — perpetual, though capped by emission; a different trust profile from both premines (worse than none for purists, better than a dumpable allocation).
Smart contracts have shipped no deadline by design — the encrypted account model has no application layer yet, and 'no deadline' can mean indefinitely.
Engineering is unusually clean for the cohort: from-scratch codebase, homomorphic state, Kalman difficulty control, ~0.40 ms/tx batch verification (Oct 2024 figures) — the tech is not the risk; the curve and the missing app layer are.
tokenomics
- emission
- Fair launch March 2024, no premine; 10% of block reward funds development. Launch-window inflation measured ~+246%/yr by independent analysts, decaying with the schedule.
- reward now
- see explorer for live reward
Don't confuse with
XEL — other XEL tickers: verify chain before trusting any figure
catalysts
Not financial advice. Verify before deploying capital.