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ChainX (PCX) is the 1183rd largest cryptocurrency in the world by market cap, valued at $68,530,128. The current price of ChainX is $0.44685531, which is -11.285% lower than yesterday. Prices have ranged between $0.532771 and $0.506786 over the past 24 hours. All prices are listed in US dollars and accurate as of January 31, 2023 01:01 UTC.
ChainX is a blockchain platform designed to help promote asset interoperability across a number of different blockchains. The project was launched in 2019 on top of Polkadot’s Substrate, which was designed to create scalable and efficient blockchains.
According to the whitepaper, many blockchains suffer from weaknesses such as scalability, security and smart contract capability. ChainX believes that, by combining all blockchains, these weaknesses can be overcome. Utilising an adapted Proof-of-Stake mechanism, ChainX allows users to share assets across different blockchain systems.
The protocol is built of 4 modules. The first is the PCX Module, which allows users to stake, pay fees, access governance and access Bitcoin financial derivatives. The second is the DEX Module, where users can exchange cryptocurrencies across chains. The third is the Inter-chain Module which allows users to enter and exit the system from different blockchains. Finally the fourth is the Relay Module which allows for data to be exchanged between ChainX and other blockchains.
PCX is the native cryptocurrency of the ChainX ecosystem. It can be used for a wide array of transactions including staking, facilitation of internal payments, rights-related on-chain governance and reward distribution.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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