TL:DR
Cloud blockchains such as Chain help organizations to develop better financial services from the ground up. Blockchain technology by Chain consists of two mechanisms, Chain Core, a permissioned and open-source blockchain, and Sequence, a ledger as a service product.
Chain (XCN) is its native token. It is used as a governance token and users can utilize it to pay for fees within the blockchain. In addition users can also get discounts if they utilize the token.
Introduction
Founded in 2014, Chain is a blockchain that allows financial institutions leverage the technology of blockchain into their market. Using Chain Core, institutions can launch and operate their own blockchain as well as connecting to other existing networks.
In addition, the Chain Protocol defines how assets are issued, transferred, and controlled on a blockchain network. This protocol allows for better communication amongst different networks and better interoperability, a common deficiency amongst many crypto projects.
Chain also has Chain Core which is engineered for modern financial systems. It is suited for any financial system seeking to create, sign, and validate transactions in milliseconds. It goal is to bring blockchain and merge iwth a real world industry, creating much needed improvements.
How Does Chain Work?
Chain Protocol, cryptographic ledger is designed to be a multi-asset ledger. Multi-operator networks with multiple operators can coexist and interoperate using a common format and set of capabilities. In accordance with the principle of least authority, control over assets and control over ledger synchronization are separated. There are two separate meachism that are the foundation for Chain.
Chain Protocol
As a participant in the Chain Protocol, you can define and issue assets by writing custom "issuance programs." Once these are issued, units of an asset are controlled by "control programs." These programs are expressed in a flexible and Turing-complete programming language. This allows you to create sophisticated smart contracts.
A federation of block signers protects each network. Providing the protocol is followed by a quorum of block signers, the system is secure against forks. Every node on the network can validate blocks and submit transactions to the network. Block creation is delegated to a single "block generator" to optimize efficiency.
Chain Core
The Chain Protocol is implemented by Chain Core, an enterprise software product. There also exists a free open-source developer edition.
Further, Chain also operates a Chain blockchain network as a freely accessible testnet that any user can utilize. The Chain Core is suited for modern financial systems and their needs allowing for faster transactions.
Sequence
As a ledger-as-a-service, Sequence allows organizations to track and transfer balances securely in a token format. By using Sequence, companies can securely manage their financial assets through tokenized ledgers and, in the near future, transfer them across public networks seamlessly.
Sequence is for any software business team who want to utilize the power of the ledger to store data. For instance, a ride sharing could use sequence to store driver balances, or a lender to manage loan lifecycles.
Chain (XCN)
Chain Token (XCN) is the native token for the Chain blockchain. It is a governance and utility token for the Chain Protocol. It is designed for holders of this token to vote on protocol improvements and various community driven programs.
Furtherm, XCN is also designed to be utilized for discounts, premium access, a payment method for commercial fees on Sequence and other Chain ecosystem products.
Tokenomics
The total supply of Chain (XCN) is 68,895,442,185 with a circulating supply of 23 billion ( ~33% of the total supply). The distribution is as follows:
Circulating: there are about 23 billion circulating XCN tokens. This is the total unlocked and freely circulating XCN available in the market.
Rewards: About 15 billion tokens are allotted for its Chain Rewards. Chain Rewards are designed to be a cash-back allocation rewarding users on Chain's products. These tokens are locked in a Smart Contract with a monthly release of 100,000,000 XCN.
Company: Another 15 billion are alloted to the company. The Company allocation is set aside for Chain's parent entity and designed to be utilized for corporate operations. These tokens are locked in a Time Lock Smart Contract with a monthly release of 100,000,000 XCN beginning April 2023.
Team: 5 billion XCN are for the team. The Team allocation is the amount of XCN granted to the founders, team members, community managers, and developers of the project. These tokens are locked in a Time Lock Smart Contract with a monthly release of 100,000,000 XCN beginning April 2023.
DAO: 10 billion XCN tokens were alloted to the DAO Treasury. The DAO Treasury allocation is under the control of Chain Governance Stakers who control these funds through community driven initiatives. The monthly budget passed on the last community constitution is 100,000,000 XCN.
How To Buy XCN?
You can buy XCN on Bybit.
Log In/ Create An Account
If you haven’t done so already you can create an account with ByBit. Keep in mind Bybit is a KYC platform so you need to provide some form of ID. If you have an account already you can just log in.
Search For XCN
Once logged in click on trade and search for "XCN" in the search box.
Select Amount and Buy
Once you find the token select the amount you want to purchase and select confirm the order.
Final Thoughts
Chain is a blockchain that allows financial institutions to leverage the technology of blockchain into their business. Using Chain Core, institutions can launch and operate their own blockchain as well as connecting to other existing networks.
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