Xai (XAI), announced as Binance‘s 43rd launchpool project, has unveiled a new Layer 3 blockchain network built on Arbitrum’s Layer 2 scaling solution for Ethereum. Aiming to enhance the gaming industry, Xai integrates blockchain technology to enable real economies and open trade within video games.
What Is Xai and How Does It Benefit Gamers?
Xai is designed to bring blockchain advantages to mainstream gamers by allowing ownership and trading of in-game items without the necessity of a crypto wallet. Developed by Offchain Labs using Arbitrum technology, it permits anyone to support the network by running a node, earning rewards, and participating in governance, thereby fostering a decentralized gaming ecosystem.
How Does XAI Coin Function Within the Network?
The native token, XAI, plays a crucial role in the Xai network. It is used for paying transaction fees, facilitating the buying and selling of in-game items, and allowing holders to vote on significant proposals. With a capped supply of 2.5 billion units, XAI also rewards those who contribute to the network’s operations by running nodes.
Key Highlights of Xai’s Launch
The introduction of Xai brings several significant developments:
- Seamless integration of blockchain benefits into traditional gaming experiences.
- Elimination of the need for crypto wallets, lowering barriers for mainstream gamers.
- Opportunities for users to earn rewards and participate in governance by running network nodes.
- Enhanced scalability and performance through Arbitrum’s Layer 2 technology on Ethereum.
XAI tokens became available for trading on Binance on January 9, 2024, in pairs including XAI/BTC, XAI/USDT, XAI/BNB, XAI/FDUSD, XAI/TUSD, and XAI/TRY. Interested users can purchase XAI by registering on Binance, depositing funds, and selecting their preferred trading pair, thus participating in this innovative blockchain gaming ecosystem.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/xai-introduces-layer-3-blockchain-network