XDai Chain Is Making Strides With Three New Hosted Projects

Xdai Chain Is Making Strides With Three New Hosted Projects
Xdai Chain Is Making Strides With Three New Hosted Projects
INVESTORS3
.
  • The prediction market platform Omen is coming to the xDai Chain.
  • Two more projects that join the Ethereum alternative are OriginTrail and Colony.
  • The unique selling point of xDai Chain is that it uses wrapped DAI tokens as gas fee currency.

xDai Chain is emerging as another layer 1 alternative for blockchain developers, onboarding three new projects in a single day.

Omen, OriginTrail, and Colony Join xDai

The most high-profile project on the list is likely the prediction market platform Omen. Already, 18 markets have been created on xDai, most of them revolving around the crypto-economy.

Trading on the prediction tokens is starting to roll in slowly though, only attracting a total volume of less than 200 xDAI in the last 24 hours. Compared to that, Ethereum currently has 23 Omen, but not a single trade has occurred in the past 24 hours since the high gas fees on Ethereum make trading unfeasible.

Alongside Omen, two other projects have moved to the xDai Chain: the supply chain tracking protocol OriginTrail and the decentralized organizations’ platform Colony.

The World’s First Layer-1-Native Stablecoin

What sets xDai Chain apart from other blockchains is that it does not rely on a volatile asset as a native currency to pay for gas fees. Instead, a wrapped version of DAI is used as the main on-chain asset to pay for transactions. In order to secure the blockchain, a volatile asset called STAKE is used for transaction verification under a Delegated Proof of Stake consensus mechanism.

Additionally, xDai Chain features an on-chain random number generator and a cross-chain bridge for ERC-20 tokens. Like the Binance Smart Chain, xDai Chain uses the same address space as Ethereum and can be added as a network to MetaMask.