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
  • 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.