xDai DPOS
About xDai DPOS
Thanks to xDai, sending money to a friend, relative or vendor is fast, cheap and easy. It’s also stable - the value of xDai is pegged to the US dollar. Peer to peer (P2P) payments on the blockchain can replace the current expensive, slow, bank-driven processes that dominate online payment systems today. It’s already happening - click on the case study and see xDai P2P in action.
Native Stable CoinA stable coin provides peace of mind. Predictable currencies allow buyers and sellers to exchange value without the risks of volatility. In the xDai Stable Chain implementation, transactions are conducted using xDai, a stable coin pegged one-to-one with Dai. Because transactions occur on a bridged sidechain, they are extremely fast and inexpensive.
Bridges to EthereumTwo bridges connect xDai Stable Chain to the Ethereum mainnet, supporting seamless two-way asset transfer between chains. Tokens are acquired on the mainnet, then bridged to the xDai Stable Chain sidechain using either the Dai-xDai bridge for transactional tokens, or the DPOS bridge for staking tokens. Once a user is finished transacting or staking, tokens can be bridged back to the mainnet with ease.
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xDai DPOS Reviews
xDai is not making a new stablecoin - it enables any existing stablecoin to have their own sidechain with the native token of their choosing: be it DAI, Reserve, USDT, and so on. Users can enjoy payments without experiencing volatility - plus with increased speed, ease, and great UX. xDai is already implemented in a list of apps and is actively used on: Burner Wallet, Poketto, AlphaWallet, DEX Wallet, Nifty Wallet, Status, Portis, Wallet Core, Metamask Mobile and Discordtip Bot.
In simple words, xDai allows freezing tokens on the main chain and then issuing the same number of tokens on a sidechain, thanks to interoperability bridges.
It utilizes new POSDAO consensus to achieve greater decentralization. The Double token model implies that there can be any stablecoin as a native token for users, but only one DPOS staking token securing the entire ecosystem of sidechains and improving security. In the beginning, xDai Stable Chain was centralized since POA Network was the only one validator. But now, xDai has 10+ trusted validators onboard: POA Network, MakerDao, Giveth, Protofire, Syncnode.... more to be disclosed soon!
xDai plans to conduct a token sale at the end of September
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