Introduction

XCHS is an inscription protocol on the Chia blockchain. It introduces a novel format by incorporating an account model into the UTXO-based Chia ecosystem. Diverging from inscription protocols on other blockchains, such as Bitcoin and Ethereum, XCHS leverages a unique feature in Chia - memos.

Features

• Information Value: Differing from solutions like smart contracts, L2, sidechains, etc., XCHS exists as a protocol inscription, aiming to not only strengthen but also streamline the value transmission of the first-layer blocks of Chia in an efficient and applicable manner.
• Distributed Confirmation: XCHS is implemented through Chia's memo system, bypassing the need for smart coins/contracts and avoiding the often complex ChiaLisp processes. It uses Chia's established regulations to handle memos, leveraging Chia's robust Satoshi coefficient to achieve expansive distributed message validation.
• Immutable: The core mission of XCHS is to foster decentralization, democratization, and fairness. It enables ordinary users to participate at nearly zero cost.
• Infinite Expansion: XCHS offers a more economical alternative to Non-Fungible Tokens (NFTs) in the Chia ecosystem. In the future, it also aims to present an economic alternative to the handling of complex and difficult Chialisp smart coins, thereby broadening opportunities for all users within the Chia blockchain.

Comparison

It's easy to discover that BRC-20 revolutionizes BTC by integrating smart contracts, while ETHS augments Ethereum with low fees. Given that XCH already boasts of low fees and superior Chialisp (smart contract). But it is still complicated for DEX to achieve high throughput due to the absence of an Account Model. However, the implementation of an Account Model in XCHS will truly make DeFi more captivating in XCH, like never before.

XSIP (XCHS Improvement Proposal)

All upcoming features will be implemented following the XSIP process, and no explicit roadmap is planned to be provided.