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Scala is a digital currency or cryptocurrency which is decentralized, secure, and untraceable. It is so safe that no one can even trace one's transfers unless the person allows him to do so.
It is an open-source cryptocurrency, which means that everybody can access it completely free without any restrictions. Scala aims to use blockchain technologies and mobile mining to redistribute wealth worldwide. XLA is currently being traded on two active markets, and the most active market that trades XLA is TradeOgre. The current market cap of XLA is around Rs. 84.3 Million and more than 9.7 billion XLAs are currently circulating in the market. Certain features that can attract users include:
● Privacy- The user's transactions are not quickly revealed on the blockchain, allowing users to send and receive funds privately.
● Untraceability- The transactions cannot trace back to an individual user or computer that makes them highly untraceable.
● Security- each transaction is highly secured by using a distributed peer-to-peer consensus network. The wallet files are encrypted with a passphrase so that they will become useless when stolen.
● Decentralization- Scala has a decentralized peer-to-peer consensus network maintained by software development that minimizes the cost of running the software and inhibits the proliferation of specialized hardware.
Its PoW algorithm, i.e., Panthera, is designed to provide a high-performance mining experience on mobile devices. Scala developed a Mobile Miner application that offers two protection layers to prevent the mobile CPU & battery from overheating and provide a high-performance experience. Another wallet called scala Vault is designed for Android devices that offer a secure platform to send, receive and store Scala coins.
Panthera has been proven to have a more stable hashrate across mobile devices and is more resistant to specialized hardware. It uses its version of delayed proof-of-Work, which doesn't require any other blockchain. It uses the same database as that of its blockchain.
Scala’s mobile miner 2.0 has several improvements over its previous version, including support for older Android and ARMv7 devices, more stability, temperature charts, support page, updated statistics, revised user interface along with providing the useful features of the previous version, such as detailed mining log, efficient and mobile-friendly PoW, two-layer temperature control, and control over temperature and intensity threshold.
Users can easily mine using their Android devices by installing the Scala Miner application. People often think that mining using mobile is not profitable. It's not right when we consider the technological evolution and energy efficiency of its ARM CPU architecture.
A well-established fact of cryptos is the vulnerability of PoW to 51% attacks, where a person holding the majority of the power controls all the transactions' destiny. There is a novel twist on delayed Proof-of-Work in scala to secure the network, unlike many other coins. Scala’s delayed Proof-of-Work uses the combination of Interplanetary File System and ZeroNet for security.
The Scala team is trying its best to make the users' experience better and secure. Recently, on February 1, it announced the listing of XLA on their first Decentralized Exchange (DEX), i.e., BTDEX that aims to provide the opportunity to trade at low fees. Here, the users are also rewarded in TRT tokens.
We are now listed on our first #DEX! @btdex_trade provides a serverless exchange method, and fees are distributed among Trade Token (TRT) holders. This will give our community the opportunity to trade safely, privately, and at very low fees.
Scala (XLA) @ScalaHQ, February 1, 2021 (On Twitter)
To allow more transparency, the Scala network has launched the Scala Trello Board, enabling the user to see the tasks in progress and those that are completed. The idea behind this is to make this project more accessible.
Scala is seeing continuous growth since July 2019, maybe because of privacy and decentralization, and it would be amazing to see it reaching new heights in the near future. The team has spent a lot of attention on tackling the problems of user experience. The apps are built in a way to improve their user-friendliness.