an ETH-compatible blockchain for everyday transactions such as micropayments or loans.
xDai is the ideal cryptographic currency for everyday payments and transactions. Fees are extremely low, payments are instantaneous and the value remains stable at ~1 USD per xDai. The easy-to-use tools make xDai easily adopted by a wide audience (both crypto and non-crypto users!).
The XDai chain is the first stable USD block chain built as the sidechain EVM of the Ethereum block chain, with a different consensus model -POSDAO, fast transaction times (5 sec.) and
low transaction fees (500 tx for $0.1).
xDAI is a combination of stablecoin DAI, embedded in a sidechain in POA (Proof of Authority) technology.
Why use xDAI? Doesn’t DAI already exist?
With xDai you greatly reduce the cost of a transaction (the cost to send xDAI to someone), which is about $0.00000021 USD, which means you can send about 500 transactions for 1 cent.
Comparing it with how much it can cost to send fiat money (3-5% of the merchant’s commission or up to 8% for international transfers) or even an Ethereum transaction while using the high traffic network ($0.10 USD) you can understand why xDAI might be interesting to use.
So if you feel like creating a dApp on a sidechain that needs stablecoin functionality (e.g. a forecast market or sports betting, so many transactions) xDAI might be a good choice !
Native & Stable Coin:
In the xDAI Stable Chain implementation, transactions are conducted using xDai, a stable currency with a 1:1 value ratio to Dai.
xDai is an independent network that supports secure and stable transactions.
Access to the Ethereum network:
Two bridges connect the xDai Stable Chain to the Ethereum Mainnet, supporting seamless transfer of goods between chains
Auction details XDai
Auction hours 28 April 13.00-15.00 UTC
Auction price: $0.40 – $0.55
Total bidding items: 400,000 POINT ($160k – $220k)
Initial supply: STAKE 8,537,500 ($3.4 million – $4.7 million)
The auction will take place on April 29th on the BitMax.com platform.
Rules of eligibility:
1. Users are required to complete KYC 2 and Google 2FA verification in order to participate.
2. Users must have a BTMX position ≥ 2,500 in the cash account (includes BTMX with a pending unlock status from a private sale).
3. Users must accept and sign the S T AKE auction contract.
4. Only users in jurisdictions where local laws and regulations allow it may participate.
Restricted countries / regions – users from the following regions may not participate:
United States, Balkan region, Belarus, Myanmar, Côte d’Ivoire, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syrian Arab Republic, Zimbabwe, Algeria, Bangladesh, Bolivia, Cambodia, Ecuador, Nepal, Afghanistan, Burundi, Central African Republic, Singapore, Ethiopia, Guinea, Guinea-Bissau, Lebanon, Sri Lanka, Libya, Serbia, Somalia, South Sudan, Thailand, Tunisia, Trinidad and Tobago, Ukraine, Uganda, Venezuela, Yemen.
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Independent researcher and consultant, crypto activist.