Meet xDai!
What is ? It’s bridged DAI stable coin — running on a new chain — where you can make transfers in DAI and pay transactions fees in DAI as well. That simple, literally a bank on the . xDai has arguably been one of the hottest things since autumn 2018 when it was created, and thanks to Burner Wallet, it facilitated meals with little-to-no-fees.
So ye, this is hot stuff. But it runs on a new chain, and yet again it’s centralized (can you trust a bank on a handful of validators?) with validators being the POA Foundation, MakerDAO, and some founding fathers of xDai. It works, no one really minds that it’s centralized, but it’s imperative to spin this around. I wouldn’t really put my money on it now, despite liking the idea. Change it?
xDai goes on POSDAO
In order to decentralize the network and implement distributed incentives to run nodes and validate transactions, as well as build up network effects via economic incentives, POA Core team designed and are now implementing . Don’t puke just yet! It’s not style DPOS. The DPOS part here (it’s more like nominated POS) where you delegate your stake on-chain and can participate in the network. No 21 nodes restriction.
Advice: xDai POSDAO Stable Chain
MakerDAO (DAI) stablecoin is obviously the leader in collateral-backed stablecoins, despite how much recent IEOs try to trash them for their own benefits. But the thing is, people use USDC, USDT, and other fiat-backed [presumably backed, LOL] stablecoins aka fiatcoins. In order to become THE standard for stable transactions, it would be natural for xDai to enable a basket of stablecoins going forward -> and become a Stable Chain. POA Core team has not made any over-optimistic comments about it, but I don’t see why not. Great for bizdev, marketing, and for integrating all those stably’s.
Now how enough, huh? Agree… BOOM:
POA Network are introducing multi chain staking. The DPOS will be the staking that will be used on the xDai Stable Chain. As POA Network launches more chains and networks, the same DPOS can be transferred through the TokenBridge to the new network and used for staking there. This gives the DPOS multiple uses across many potential networks and chains.
Every chain created based on the new DPOS algorithm would be utilizing the DPOS . The supply and the inflation rate are assumed to be shared among all DPOS chains. Emission curve is spread out across all DPOS chains. There is no repetitive inflation on every DPOS chain separately.
Published at Sun, 26 May 2019 22:16:22 +0000
