xDai is a digital asset that is pegged to the value of the US dollar. It is an ERC20 token that is backed by the Dai Stablecoin System, which is a decentralized platform that is built on the Ethereum blockchain.
The Dai Stablecoin System is designed to provide stability in the value of the Dai token, as it is pegged to the US dollar. The system uses a collateralized debt position (CDP) platform to create and manage Dai, and to ensure that its value remains stable.
NOTE: WARNING: xDai is not an Ethereum. It is a sidechain to the Ethereum blockchain and uses its own token, DAI. xDai does not use Ether and has different mechanisms for transaction fees, gas costs and security.
The xDai digital asset was created by MakerDAO, and it is meant to be used as a payment system on the xDai network. The xDai network is a sidechain of the Ethereum blockchain, and it uses the native currency of Ethereum, Ether (ETH), as its collateral.
The xDai network was created to offer users a fast and cheap way to send and receive payments in Dai.
So, Is xDai an Ethereum? Yes, xDai is built on Ethereum blockchain and it uses Ether as its collateral.
9 Related Question Answers Found
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. xDai is a digital currency that is pegged to the value of the Dai, a stablecoin that is soft-pegged to the US Dollar. xDai is built on Ethereum and uses the same blockchain infrastructure as Ethereum.
No, XDC is not an Ethereum. XDC is its own blockchain platform with its own native token, XDC. While both platforms are decentralized and allow for the development of dapps, they differ in their consensus mechanisms, features, and Target use cases.
If you were to ask someone whether XRP is built on Ethereum, you would likely get a variety of different answers. Some people might say yes, while others might say no. So, which is it?
XDC is a public, open source blockchain platform built on Ethereum that enables developers to create, launch, and deploy decentralized applications. The XDC protocol is designed to provide a scalable, efficient, and secure foundation for building decentralized applications. The XDC protocol is based on the Ethereum Virtual Machine (EVM), which is a decentralized platform that runs smart contracts.
In 2015, a 19-year-old Russian-Canadian programmer named Vitalik Buterin published a white paper describing Ethereum, a decentralized platform that would use blockchain technology to enable anyone to build and run decentralized applications. The vision was to create a “World Computer” that would be more resilient and democratized than the centralized servers that power the internet today. Since its launch in 2015, Ethereum has grown to become the second largest blockchain platform by market capitalization, with a community of developers building thousands of decentralized applications on its network.
There is no doubt that Ethereum has been a game changer in the world of cryptocurrency. In less than two years, it has become the second largest blockchain platform after Bitcoin, with a market capitalization of over $1 billion. But what is Ethereum and what makes it so special?
Cosmos is a decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint. The Cosmos Network is an ecosystem of blockchains that can scale and interoperate with each other. The vision of Cosmos is to create an Internet of Blockchains, where different blockchains can transfer value and data to each other in a trustless and decentralized way.
IMX Ethereum is a public, decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is similar to Bitcoin in that it is a decentralized digital currency. However, Ethereum goes beyond being just a digital currency.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is not just a platform but also a programming language (Turing complete) running on a blockchain that helps developers to build and publish distributed applications. The applications on Ethereum are running on their own platform-specific cryptographic token, ether.
