xDAI

Overview of xDAI

  • xDAI is a blockchain that leverages Proof-of-Stake (much more eco-friendly!), uses a stable coin as its "core" currency, and has low gas fees (it costs about costs about $0.000203 to purchase a membership!) Today, we're very excited to see you deploy locks using our front-end and add these locks to your blogs and websites!
  • xDai recently integrated with Chainlink as its preferred oracle solution, providing smart contract developers a growing collection of pre-built price oracles that can easily support a wide variety of DeFi protocols for lending, derivatives, synthetics, asset management, algorithmic stablecoins and other financial services on xDai.
  • xDai uses a Proof of Stake incentivization model to achieve five-second block times with low transaction costs and is secured by a consensus process called POSDAO (Proof of Stake Decentralized Autonomous Organization) where a set of validators process and confirm on-chain transactions.
  • xDai was conceptualised in September 2018 by POA Network’s Tech Lead, Igor Barinov, as a way to create a stablecoin that is the native coin to its blockchain, via bridging an ERC stablecoin to its own sidechain.
  • xDai places strong emphasis on UX and private transactions, which is exactly what users need,” commmented a B-Tech spokesperson, adding “We are excited to be working together to advance payment adoption.”
  • xDAI is incredibly well-positioned to work with and enhance the countless Ethereum-based dApps currently being used and developed, giving it instant utility for a large number of blockchain developers.
  • xDAI’s stable and easy onboarding makes it suitable to reward participants of live events which include the EthDenver 2020, EthWaterloo II, RSAConference 2020, and Spunk19 Conferences.
  • xDai is one of the few projects that’s trying to face this issue by allowing fluid transfer between xDai and Ethereum mainnet thanks to the Bridge (more on that in a second).
  • xDai reportedly traded $3.327mn of Exchange Volume in the past 24 hours, equating to 119.14% of its Network Value; a hugely impressive figure, if only it was accurate.
  • xDAI has 13 known validators, with each receiving an initial 20K STAKEs as a fixed incentive to be actively involved in the running and security of the protocol.

    • Blockchain

    “xDai is the missing catalyst for mass adoption of current-day stablecoins, making them fast-and-easy-to-use at stable fees,” stated a member of Bixin, which also participated in the seed round.“We see great potential in this great project and are more than excited to see the changes it will bring to the industry.” This sentiment was echoed by Roger Lim, Founding Partner at NGC Ventures, who noted that “xDai solves the price volatility and scalability issues of blockchain adoption with its Ethereum side-chain that executes smart contracts very quickly, privately and affordably.”

    Mine

    At this point, xDai security guarantees can shift to the overarching Ethereum architecture, making xDai more decentralized and secure.For STAKE, this also means transitioning from a network security token to a mechanism for overall xDai governance as well as chain-based micro governance.Holders will use STAKE to determine things like transaction sequencing and priority on a per-block basis, giving a true community voice to the transactions written directly to the chain.  Value capture related to this concept, known as Miner Extractable Value, will give STAKE an intrinsic and important purpose when Eth 2.0 is ready for production.To bring this full circle, xDai plans to reunite with her sister and live in harmony.Once Eth 2.0 is fully realized, xDai will be well positioned to join Eth 2.0 either as a shard or in a rollup-type capacity.

    Network

    Within your RealT’ portfolio, you will now have the choice to claim your rents on Ethereum through a smart contract integrated to the website with a daily provision of rents, to receive your rents on the xDai network daily without charge or to reinvest your rents automatically on the reinvestment property, rents also compatibilized daily but with a sending of tokens certainly weekly.

    Support

    The current availability of wallets for xDai includes the Alpha wallet, which is a mobile wallet with a built in DApp browser; the Burner wallet for spending; the DEX mobile DeFi wallet; Metamask; the Nifty wallet; Poketto Cash, a mobile wallet for iOS and Android; the Portis web wallet; the Saturn wallet, which is a browser extension; and the Status wallet, which supports private messaging and secure mobile transactions.

    Transactions

    But xDAI is not just stopping there.There are many plans for continued development this year, including a transition to public staking for greater decentralization, the option for private transactions, the creation of fiat-based derivatives, a layer two scalability solution, and the creation of a new xDAI NG chain that will use a new HoneyBadger BFT consensus algorithm.

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    Our team is here to help you.If you have any question on how to buy or sell XDAI, you can reach us by email, on our official Telegram group or by phone (Monday to Friday from 9am to 6pm CET).

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    How Is the xDai Network Secured?

    xDai provides virtual public utility for users.The xDai token is used to secure the xDai chain by validators and delegators.Users can participate in chain consensus and stake their xDai to secure the chain and receive rewards.

    How Many xDai (STAKE) Coins Are There in Circulation?

    The xDai chain uses the ERC20-to-native TokenBridge functionality to provide stable, fast and inexpensive transactions.

    How to bridge between Ethereum and xDai?

    To pass your tokens from the Ethereum network to xDai you will therefore have to bridge the gap between the 2 networks.

    How to Get Started?

    Our easy to follow tutorials will help guide you through the different tools and features of Honeyswap.

    How to use xDai?

    A great way to use xDai is the popular Burner Wallet, which makes it quick and easy to get some xDai for spending on the go.

    What are sidechains?

    Sidechains are generally EVM-compatible, separate blockchains with their own consensus models.xDai is moving towards a Proof-of-Stake mechanism using their own STAKE token on the Ethereum mainnet.Sidechains are designed to easily allow transfer of value and arbitrary state with the Ethereum chain.

    What does soft launch mean?

    It means we’re ready to play… gently.

    What is Colony?

    Colony is the most powerful, practical, flexible, and easy to use DAO framework, and we’re extremely excited to let people start playing with our sparkly new dapp.

    What is the xDai chain?

    The xDai chain is an Ethereum-based sidechain that uses a Proof-of-Stake mechanism.It has been live since late 2018 and uses a stablecoin, xDai, as its native cryptocurrency.

    What is the xDai cryptocurrency?

    This native cryptocurrency of the xDai chain has a price that’s pegged to the US Dollar, making it a stablecoin similar to USDC, Tether, and… the original Dai! Being pegged to the US Dollar is what makes the cryptocurrency “stable,” as it’s supposed to always be worth 1 US Dollar.

    What Is xDai (STAKE)?

    xDai is a cryptocurrency that is pegged to the US dollar.The xDai chain is a stable payment blockchain that is designed for fast and inexpensive transactions.STAKE is secured by proof-of-stake consensus.xDai was founded on Oct.1, 2018.

    What is xDai Stable Chain?

    xDai Chain provide users with fast transactions and low gas prices.xDai Stable Chain is Ethereum compatible, so data and assets can be transferred to the Ethereum providing backend safety and opportunities to scale.Interview with Igor Barinov, founder of POA Network.

    What is xDai STAKE?

    The xDai chain employs a Proof-of-Stake (‘PoS’) mechanism for confirming transactions, which is newer than the common Proof-of-Work (‘PoW’) mechanism.Ethereum, as an example, is currently transitioning from PoW to PoS.

    What is xDai used for?

    xDai is a layer 2 and will therefore allow the use of decentralized applications in the same way as Ethereum but at an infinitely lower cost and at a higher speed.There are currently several layers 2, such as Matic Network (now Polygon), Loopring, Celer, Optimism, or OMG Network.

    What is xDai?

    The xDai network is an EVM-based blockchain that uses xDai as the native currency.1 xDai = 1 Dai = 1 USD, and there is a bridge between the xDai network and Ethereum, which allows users to move assets between the xDai network and Ethereum.xDai is using POS consensus.Although xDai doesn’t provide the same high level of decentralization as Ethereum, it does allow faster and cheaper transactions.

    What is xDAI?

    xDAI is a decentralized platform powering payments using a trusted stablecoin.The protocol uses the proof of stake (PoS) consensus mechanism.Among its notable qualities is a 5-second transaction speed and transaction fees as low as $0.01 for 500 transactions.

    What is xDai?

    xDai Chain is an Ethereum sidechain with 5-second block times, low gas prices, and a native token that’s also called xDai.Developed through a partnership between POA Network and MakerDAO, xDai Chain is powered by a delegated Proof-of-Stake architecture called POSDAO.With POSDAO, users who hold the STAKE governance token on the xDai chain can apply to become validators, and community members with less STAKE can also participate in the consensus process as delegators.STAKE token is used to protect the protocol and also for governance through a snapshot integration.The STAKE community can add and vote on proposals for protocol changes.The xDai token is analogous to ETH on Ethereum.It’s a 1:1 representation of MakerDAO’s Dai stablecoin.Users can convert Dai to xDai via POA Network’s xDAI Bridge, which connects Ethereum and xDai Chain.Established in October 2018, xDai Chain attracted the attention of the ecosystem, thanks in no small part to Austin Griffith’s Burner Wallet, which provides a quick and easy way to carry and exchange small amounts of spending-crypto using a mobile browser and serves as a low-friction way to onboard new users.

    What is xDaichain?

    xDaichain is a stable payment blockchain designed for fast and inexpensive stable transactions.xDai is used for transactions, payments, and fees, and STAKE is used to support Proof-of-Stake consensus.

    What Makes xDai Unique?

    xDai is a derivative of the DAI cryptocurrency, which is a stablecoin whose price is pegged to the US Dollar.The cost to perform a transaction with xDAI is $0.000021 USD.Such a transaction takes up to five seconds.

    Who Are the Founders of xDai?

    The founder of xDai (STAKE) is Igor Barinov.He is also the founder of the POA Network, an R&D company whose mission is to ensure that the Ethereum protocol is cheap, fast, secure and scalable.Barinov has developed several projects in the past, such as BlockScout and TokenBridge.

    Who is POANetwork?

    POANetwork is behind the xDai Chain project and many of the tools that support xDai Chain.It is its own autonomous network as well, built on the Ethereum protocol.It uses a Proof-of-Authority consensus mechanism, which makes all of its validators public.Validators are independent and pre-selected using a solid vetting process that ensures a selection of validators with good behavior.

    Why is RealT switching to xDai?

    If you actively follow the news surrounding Ethereum, you will know that the network is currently congested.Transaction fees have become particularly high even (especially) for transactions with small amounts such as for rents paid to holders of RealT tokens.

    Why would one want to use xDai?

    The xDai chain is a good companion to Ethereum.

    Why xDai?

    ?Fast transaction times (5 seconds) & low transaction fees (500 tx for $.01).

    History of xDAI