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About STAKE
Key Points
- xDai is a cryptocurrency pegged to the US dollar.
- xDai chain is a stable payment blockchain for fast and inexpensive transactions.
- STAKE is a multi-chain staking token securing the payment layer.
- xDai was founded on Oct. 1, 2018, by Igor Barinov.
- xDai is a derivative of the DAI cryptocurrency.
- Transaction cost: $0.000021 USD, taking up to 5 seconds.
- Circulating supply: 4,058,408 STAKE as of February 2021.
- Maximum supply: 8,537
About STAKE: Empowering a New Era of Decentralized Finance
Introducing xDai (STAKE): A Comprehensive Overview
xDai is a dollar-pegged cryptocurrency, underpinned by a stable payment blockchain engineered for swift and cost-effective transactions. The STAKE token is secured by a proof-of-stake consensus mechanism. Founded on October 1, 2018, xDai has been providing a reliable and efficient means of exchange.
STAKE is a multi-chain staking token meticulously designed to fortify the payment layer. By facilitating staking, validators and delegators can collaboratively provide transaction consensus, thereby earning incentives for their pivotal role in block production. Notably, this requirement is exclusive to consensus providers, and does not pertain to everyday on-chain transactions.
xDai was born out of the POA Network, an open-source public side-chain of Ethereum, established in April 2017. This innovative framework provides developers with a seamless and efficient way to craft smart contracts on Ethereum, while simultaneously harnessing the capabilities of the POA Network.
The Visionaries Behind xDai: Meet the Founders
The founder of xDai (STAKE) is Igor Barinov, a visionary entrepreneur who has also founded the POA Network, a research and development company dedicated to optimizing the Ethereum protocol for affordability, speed, security, and scalability. Notably, Barinov has a proven track record of innovation, having successfully developed several projects, including BlockScout and TokenBridge.
Igor Barinov is also the esteemed co-founder of Block Notary and Forcera OU, and concurrently serves as a distinguished blockchain consultant at Acronis.
xDai’s Distinctive Edge: Unpacking its Uniqueness
xDai is a derivative of the DAI cryptocurrency, a stablecoin whose value is pegged to the US Dollar, thereby maintaining a stable exchange rate. The transaction fee for xDAI is a mere $0.000021 USD, with an impressive processing time of up to five seconds.
xDAI can be seamlessly transferred or received from one user to another via the intuitive Dex Wallet mobile application or the user-friendly Poketto xDai mobile wallet.
What Is the Circulating Supply of xDai (STAKE) Coins?
The xDai chain leverages the ERC20-to-native TokenBridge functionality, thereby facilitating seamless, rapid, and cost-effective transactions.
As of February 2021, xDai’s (STAKE) circulating supply stands at 4,058,408 STAKE, with a capped maximum supply of 8,537,500 STAKE.
The xDai Network’s Security Mechanisms: A Robust Framework
xDai offers a virtual public utility, empowering users to engage with its ecosystem. The xDai token plays a pivotal role in securing the xDai chain, as validators and delegators utilize it to maintain the network’s integrity. By participating in the chain’s consensus mechanism and staking their xDai, users can contribute to the chain’s security and earn rewards in return.
Two bridges facilitate a seamless connection between the xDai Stable Chain and the Ethereum mainnet, enabling effortless two-way asset transfer between the two chains. Tokens are initially acquired on the mainnet and subsequently bridged to the xDai sidechain via the DAI-xDai bridge for transaction tokens, while the OmniBridge is utilized for cross-chain transfers, ensuring a streamlined experience.
Notably, xDai operates on the public POSDAO consensus, which employs a delegated proof-of-stake mechanism. This allows anyone with a sufficient stake to establish a node and become a validator. Furthermore, delegators play a crucial role in determining the validator set by allocating their stake to candidates they deem suitable for the validator position.
Where to Acquire xDai (STAKE): A Comprehensive Guide
If you’re looking to buy, sell, or trade xDai (STAKE), you can do so through the following reputable exchanges:
- HBTC Exchange
- Hoo.com
- Uniswap Protocol (Version 2)
- Gate.io Cryptocurrency Exchange
- Bilaxy Digital Asset Exchange
For those new to the process, we invite you to explore our comprehensive guide on how to purchase Bitcoin, available
here
.
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