ChainXPrice

(PCX)

ChainX is an inter-chain central blockchain designed for digital assets, aiming to enhance interoperability across various blockchain networks. It functions as a Layer-2 solution for Bitcoin and was one of the earliest blockchains developed using Substrate. ChainX has plans to integrate further into the Polkadot ecosystem as a parachain, bridging different digital asset landscapes.

The native PCX token serves multiple essential functions within the ChainX ecosystem. It is used to pay for miner fees, functions as a market value unit, and acts as collateral for trust and consensus nodes, facilitating network security and stability. PCX also serves as an exchange medium, and it is integral to the Proof-of-Stake (PoS) algorithm, allowing holders to vote for validators and participate in network governance.

The PCX token has a total fixed supply of 21 million. This supply is designed to be halved every two years, implementing a deflationary mechanism. A portion of the initial supply was allocated to the founding team to fund early development efforts. A key aspect of its tokenomics is the long-term vision for the chain to transition to full community ownership after an initial two-year period, promoting decentralized governance and sustainability.

ChainX addresses barriers between assets on various chains by measuring users' mining power based on the market value of deposited assets like BTC, DOT, ETH, ERC20, and EOS. This is achieved through an inter-chain bridge that connects these diverse ecosystems. Furthermore, ChainX utilizes its proprietary version of the Lightning Network protocol, called X-Lighting, to enable faster and more cost-effective transactions, particularly for Bitcoin, thereby enhancing its cross-chain capabilities.

Users can acquire PCX tokens through several methods. One way is by actively participating in mining or staking activities, specifically by "locking" certain assets such as BTC. Alternatively, PCX can be directly purchased from supported cryptocurrency exchanges. This provides flexibility for users to either earn tokens through network participation or acquire them via market trading.

PCX tokens can be securely stored in various crypto wallets. These include non-custodial options, which empower users with complete control over their private keys, thus maximizing security and autonomy. For enhanced security, especially when holding significant amounts of PCX, hardware wallets are highly recommended. These specialized devices offer robust protection against online threats and unauthorized access, ensuring the safety of users' assets.