Cryptonite XCN is a purely P2P crypto-currency scheme where old transactions can be forgotten by the network. In summary, it can be described as a decentralized payment network where computing power is required in order to mint new “coins”. It was released back in 12/06/2014.In its essence, Cryptonite XCN is a Bitcoin fork that has been heavily modified and expanded to improve scalability as it includes some innovative features. Supposedly one of those is the first implementation of a mini-blockchain. The mini-blockchain is a normal blockchain, except that it doesn't need to keep a copy of all historical blocks, which allows it to throw away old blocks and save vast amounts of disk space. However, it still provides a level of security. Cryptonite is one of the first altcoins to put withdrawal limits. That way users set their own limits on how much they send in one block. This helps when you doubt that you might double spend and it increases confidence in low-confirmation transactions.Its usage includes “addresses” resembling the email addresses we use in our everyday life. Those addresses are used to send and receive payments.

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