Medallion XLN Is The Missing Component 💯🔥

A decentralized community needs to build on a decentralized architecture

“Scalability is this idea of coming up with a blockchain that can scale much larger than existing chains essentially by processing transactions in parallel. And moving away from this paradigm where every single node on the network has to process every single transaction.” - Vitalik Buterin

I met Vitalik Buterin once. It was my second year volunteering for Tech Crunch’s Disrupt conference in San Francisco. My job was to stand in front of the gates where everyone comes in and check to make sure that the attendees were wearing their lanyards. Lanyards validate the ownership of a ticket before they head into the Disrupt conference. I took my job seriously, “Halt! Kindly display your lanyard, sir!” Here I am in this position of authority, Drunk with Power. Suddenly, this skinny kid wearing a unicorn shirt comes barreling towards me, guided by an extremely large man dressed in all black. It didn’t register to me that this could be someone important because those people usually enter through the back. In my mind, these guys were trying to sneak in. NOT ON MY WATCH! I scream at the top of my lungs, “SIR! I NEED TO SEE YOUR LANYARD!!!” They rush right past me, I was about to run after them when the skinny kid turns around and shows me his lanyard, then it clicked. “Is that Vitalik Buterin? Yoooo Vitalik, what up!!?!!???” Arms wide out like I’m greeting an old friend. Vitalik gave me a thumbs up. I later found out that he was late to give his speech on Ethereum at Tech Crunch Disrupt 2017, that’s why he came through the front entrance instead of the back. That’s my Vitalik Buterin story, his path crossed with mine for a good 35 seconds. Such a funny memory. “Display your lanyard, good sir!” Not that I think I would’ve made it past his bodyguard, who was the size of a mountain. I would be holding on for dear life on the bodyguard’s leg, gnawing on his knees like a little chihuahua.

I had that interaction with Vitalik Buterin about 3 minutes before he went on stage to do this interview

Medallion XLN’s community has grown to the point where we are ready to start talking about our technology. A topic that I believe is very important to decentralization and scalability is the concept of Micro-Infrastructure. Ethereum has been trying to upgrade from Proof-Of-Work to Proof-Of-Stake since 2018. The reason why updating Ethereum is so hard is because it is like changing the engine of a train while traveling at 200 mph. When Ethereum was created on July 30, 2015, it missed the component revolution in technology by a year. By 2016, most tech companies in Silicon Valley began to realize that their monolithic architecture was hard to update, navigate and understand. Monolithic architecture means that the software is composed of a self-contained single piece that is interconnected and interdependent. Recent trends emphasize breaking the architecture down into small, self-contained pieces that can be inserted and removed without affecting the overall purpose of the application. This allows the application to perform small function-specific goals. Various components of the software can be updated piece by piece, instead of the massive effort that Ethereum is currently undergoing. On the backend this process is called Micro-Services, on the User Interface, it is called Micro-Frontends.

The concept of component scalability in the context of the Medallion XLN’s decentralized community culminates in an App Marketplace. The Blockchain space moves fast, in the 7 years since Ethereum’s release, many use cases have been developed. When I came into Blockchain, the main use case for Ethereum was Initial Coin Offerings (ICOs) which gave birth to Binance, EOS, and more. Over the years, the use-cases shifted to Non-Fungible Tokens (NFTs), Decentralized Autonomous Organizations (DAOs), Decentralized Finance (Defi), and FlashLoans. Medallion XLN expects our community to find innovative use-cases for our technology as well. The App Marketplace provides the ability to easily apply accessible components to any innovative implementation, which contributes to the longevity of the project. We are more likely to keep pace with upcoming trends in technology, and become the decentralized platform that creates the most innovative trends as well.

It is important to keep in mind accessibility. How can we claim to be a decentralized community but also require our community members to know how to code to contribute? The coding requirement only allows a portion of our community to participate in building Medallion XLN. Currently, if anyone wants to contribute to a dApp on Ethereum, they need to pay developers or be experienced in programming. Being familiar with Solidity or HTML/CSS/JavaScript, is necessary to build dApps. That has always been a barrier to entry for most creators. Everyone in the decentralized community should be able to build, regardless of their ability to code. Creators should not be shut out from contributing to their favorite community because they lack the programming aspect. If they had access to various customizable templates that they received from an app marketplace, those creators could create endless new industries and innovations. In the Web2 generation, many developers built amazing tools that were leveraged by billion-dollar corporations to earn great sums of money. These developers never received any compensation for their contribution, not even a “Thank-you” letter. Medallion XLN’s App Marketplace guarantees that the contributions made by developers in our community will be compensated in a way that will be inherently scaled to reflect the component’s usage.

Medallion XLN seeks to empower our decentralized community to harness the power of Blockchain, Artificial Intelligence & The Metaverse. The core company is responsible for building tools as various components that the decentralized community can apply to any goal that they may have. The only way to achieve our true vision for decentralization is to make it as easy as possible for anyone to build their vision. There are so many talented painters, sketchers, graphic designers, video editors, directors, writers, and poets who simply do not code. Their contribution should not be invalidated, and therefore all Medallion XLN components are created with accessibility in mind. Each component will be built similar to a Content Management System (CMS), that allows users to create and manage their assets from a User Interface (UI). The App Marketplace is designed to receive contributions from coders who have a vision for Medallion XLN, that the core team has not developed. While the core company builds the Blockchain, Smart Contracts, AI models, and various customizable UI components. The decentralized community will take those tools and build everything else. We provide extensive documentation that will allow the community to build their specific use-case, then take advantage of network effects to monetize it. Another function that the core Medallion XLN company provides is to build on-ramps to traditional media outlets. We seek to build leverage, then use that leverage to decentralize every aspect of the traditional media market.

The App Marketplace is only one aspect of the Medallion XLN Smart Chain. In upcoming articles, we will go into our unique approach to Asset Management and how that relates to our goal of Interoperability. These articles are designed to keep our community well-informed about our thought process, goals and progress. Great companies were built from an ICO, and we intend to be one of them. We are busy testing the security of our website, ICO Smart Contract & updating our Whitepaper. We hope you are as excited to build this technology with us as we are to build it with you.

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