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ColossusXT is now an officially registered business

By Rafał - 2019-04-19

The ColosusXT recently released updates of its code development efforts and the quest to list the project in exchanges and harmonize its legal aspects.
In the release, it mentioned that the recently discovered vulnerability found in the platform that was the result of a flaw in the Zerocoin code base was being tackled by developers who are also using the avenue to work on scalability issues of the platform.
The post said that the bug would have resulted in an attacker voiding the serial number of a holder’s zerocoin by taking control of the user’s network.
It would be recalled that zerocoin provides privacy and anonymity on the ColossusXT platform.
The Colossus Grid platform will operate on enhanced privacy through obfuscation which adds a second layer of privacy on the network through the Zerocoin protocol. Armis (I2P) will work in tandem with the Zerocoin protocol to provide a foolproof privacy for the platform.
The user data which would be stored in a cloud would be encrypted in the COLX wallet which has been integrated with the I2P.
According to the update, the ColossusXT webwallet which has been offline for some time is now active and can be used and accessed whether the user is online or off making it convenient to access coins stored in them. However, the platform recommends that user take advantage of Desktop or Mobile Wallets if they have to store substantial coins.
The Sync loop vulnerability that affected the android version of the wallet is being worked on by developers. The bug results in the wallet going into a blockchain sync loop whenever the app is closed on a device. The android version 1.2.1 which has the issue is being rectified.
Te Colossus blockchain which was designed for ease of bootstrapping is increasing in size. This has been incentivized by the fact that the platform has been registered by the state of Wyoming. This is an important step in the quest to establish the Colossus Grid as a cloud platform.

ColossusXT LLC

A legal opinion letter was issued the Colossus team. This in effect assures the community and all partners that this is verified team of sorts that anyone could collaborate with, trust and do business with.
This has made the team more determined to break barriers as it strives to accomplish the 2019 roadmap.