ChainX PCX Price

What is ChainX (PCX)?

ChainX (PCX) is a community-run layer2 network of bitcoin. Co-founded by Lipeng Yue in 2016, this community-driven layer2 network of Bitcoin sets out to build a trustworthy and scalable layer-2 framework, addressing the limitations faced by Bitcoin in terms of speed, scalability, and functionality.

Interoperability and Market Value Measurement:

ChainX stands out by facilitating asset interoperability with various blockchains. Its innovative approach involves measuring users' mining power based on the market value of leading assets like BTC, DOT, ETH, ERC20, EOS, and more. This is achieved through an inter-chain bridge, showcasing its commitment to creating a seamless connection between different blockchain ecosystems.

Built on Substrate Framework:

ChainX takes advantage of the Substrate framework, making it one of the first blockchains to do so. Substrate enables the creation of upgradable and efficient blockchains, with easy integration into the Polkadot network at genesis. This strategic choice positions ChainX as a potential Polkadot parachain upon the platform's launch.

Development Milestones:

ChainX has achieved significant milestones in its development journey, completing the BTC bridge and decentralized exchange (DEX). Furthermore, the pipeline includes plans for bridges for BCH, LTC, ZEC, and continued support for Ethereum and other proof-of-stake (POS) chains. This expansion underscores ChainX's commitment to providing a diverse and comprehensive blockchain ecosystem.

ChainX (PCX) Token Utility:

At the heart of ChainX's ecosystem is the PCX token, serving a triad of functions – governance, payment, and staking. PCX holders enjoy voting rights, influencing protocols, product development, new features, and network upgrades. Staking PCX tokens not only safeguards the network but also offers holders incentives. Additionally, PCX facilitates transaction processes by charging fees for computational power within the ecosystem.

Bitcoin Layer-2 Framework:

ChainX positions itself as a community-run layer2 network for Bitcoin. Recognizing the limitations imposed by block size and production, ChainX aims to enhance Bitcoin's payment speed and extend its functionality through layer-2 solutions. The platform's commitment to deploying smart contracts using virtual machines, such as the Ethereum Virtual Machine (EVM), highlights its dedication to scalability and providing a development platform for Dapp developers.

History and Tokenomics:

Founded in 2016, ChainX has rapidly evolved into a significant player in the blockchain space. The PCX token, with a total supply of 21 billion, undergoes halving every two years, aligning with Bitcoin's strategy to manage token supply and demand dynamics.

Conclusion:

In conclusion, ChainX (PCX) emerges as a dynamic force in the blockchain landscape, offering solutions to Bitcoin's inherent limitations and contributing to the evolution of decentralized ecosystems. With its commitment to interoperability, scalability, and innovative tokenomics, ChainX stands poised to play a crucial role in shaping the future of blockchain technology. As the crypto community continues to explore new frontiers, ChainX remains a beacon of innovation and progress.

PCX is ChainX's governance token with utilities in governance, payment, and staking. Holders use PCX for voting on network protocols and receive incentives for staking, while the token facilitates transaction fees for computational power within the ChainX network.

What is unique about ChainX (PCX)?

ChainX is a community-run layer2 network of Bitcoin, aiming to enhance Bitcoin's payment speed and scalability by deploying smart contracts through virtual machines like EVM, offering low-cost migration, familiar tools, and plug-ins, making it a suitable development platform for Dapp developers.

Who are the founders of ChainX (PCX)?

Lipeng Yue co-founded the ChainX network in 2016 in China.

Who are the backers/investors of ChainX (PCX)?

Specific supporters and investors of the project are unknown. For up-to-date investor/backer information, please visit the project's official website.

Where can I buy ChainX (PCX)?

You can buy ChainX (PCX) on Gate.io, MEXC cryptocurrency exchanges.