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STAKE Stock

STAKE

STAKE

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STAKE Whitepaper

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Börse Marktpaar Preis +2% Tiefe -2% Tiefe Volumen (24H) Volumen % Typ Liquiditätsbewertung Aktualität

STAKE FAQ

What is xDai (STAKE)?

xDai is a cryptocurrency pegged to the US dollar, operating as a stable payment blockchain crafted for fast and cost-effective transactions. The security of STAKE is maintained through a proof-of-stake consensus. xDai was established on October 1, 2018. STAKE serves as a multi-chain staking token developed to secure the payment layer. Through staking, validators and delegators can offer transaction consensus and earn staking rewards for block production. It is necessary solely for consensus providers and not for routine on-chain transactions. xDai was developed by the POA Network, an open-source public side-chain of Ethereum that was founded in April 2017. This offers a smart contract framework that provides developers with an easy and efficient method to execute coding on Ethereum while utilizing the capabilities of the POA Network.

Who Founded xDai?

The founder of xDai (STAKE) is Igor Barinov. He also established the POA Network, a research and development company dedicated to making the Ethereum protocol affordable, efficient, secure, and scalable. Barinov has previously developed several projects, including BlockScout and TokenBridge. Igor Barinov is also a co-founder of Block Notary and Forcera OU and serves as a blockchain consultant at Acronis. For more information, you may refer to Eulerpool.

What Distinguishes xDai? The xDai cryptocurrency offers unique features that set it apart within the blockchain ecosystem. It operates on a dual-token model designed to provide efficiency and stability. The first token, xDai, is a stablecoin that is soft-pegged to the US Dollar, which facilitates stable transactions and eliminates volatility—a common issue in other cryptocurrencies. The second token, STAKE, is used for securing the network through a proof-of-stake consensus mechanism. This structure helps to balance stability and security, making xDai an ideal choice for transaction settlements and numerous applications requiring predictable transaction costs. Additionally, the platform is known for its low fees and fast transfer speeds, further enhancing its attractiveness to users and developers. Moreover, xDai also supports compatibility with Ethereum-based tools and has robust governance protocols. The community is integral to network decisions, ensuring that developments and upgrades align with collective interests. To learn more about the viability, use cases, and market activity of xDai and STAKE, visit Eulerpool for the most updated information and analyses.

xDai is an iteration of the DAI cryptocurrency, a stablecoin that maintains a value equivalent to the US Dollar. Conducting a transaction with xDai costs $0.000021 USD and is completed within approximately five seconds. Users can send or receive xDai using the Dex Wallet mobile application or the Poketto xDai mobile wallet.

What is the Total Circulation of xDai (STAKE) Coins?

The xDai chain employs the ERC20-to-native TokenBridge functionality to enable stable, rapid, and cost-effective transactions. As of February 2021, the circulating supply of xDai (STAKE) stands at 4,058,408 STAKE, with a maximum supply cap of 8,537,500 STAKE, according to Eulerpool.

How is the xDai Network Secured?

xDai serves as a virtual public utility for its users. The xDai token plays a crucial role in securing the xDai chain, with both validators and delegators involved in this process. Users have the opportunity to engage in chain consensus by staking their xDai to enhance chain security while earning rewards. Two bridges facilitate the connection between the xDai Stable Chain and the Ethereum mainnet, enabling seamless two-way asset transfers. Tokens are initially acquired on the mainnet and later transferred to the xDai sidechain via the DAI-xDai bridge for transaction tokens. The OmniBridge facilitates cross-chain transfers. It is noteworthy that xDai operates on the public POSDAO consensus and employs delegated proof-of-stake. Individuals with sufficient STAKE to operate a node can assume the role of a validator. Delegators contribute to selecting validators by placing STAKE on candidates they support to become validators.

Where Can You Purchase xDai (STAKE)?

If you wish to purchase, sell, or trade xDai (STAKE), you can do so at the following exchanges: * HBTC * Hoo * Uniswap (V2) * Gate.io * Bilaxy If you are interested in learning how to buy Bitcoin and are unfamiliar with the process, please refer to our comprehensive guide available here on Eulerpool.

Investors interested in STAKE are also interested in these Cryptos

This list presents a carefully selected selection of Cryptos that might be of interest to investors. We have our own crypto analyses for all listed Cryptos on Eulerpool.

Beginnings and the Rise of Cryptocurrencies

The history of cryptocurrencies began in 2008 when an individual or group using the pseudonym Satoshi Nakamoto published the whitepaper "Bitcoin: A Peer-to-Peer Electronic Cash System." This document laid the foundation for the first cryptocurrency, Bitcoin. Bitcoin utilized a decentralized technology known as blockchain to enable transactions without the need for a central authority.

In January 2009, the Bitcoin network commenced with the mining of the Genesis Block. Initially, Bitcoin was more of an experimental project for a small group of enthusiasts. The first known commercial purchase using Bitcoins occurred in 2010, when someone spent 10,000 Bitcoins on two pizzas. At that time, the value of one Bitcoin was just fractions of a cent.

The development of other cryptocurrencies

Following the success of Bitcoin, other cryptocurrencies soon emerged. These new digital currencies, often referred to as "Altcoins," sought to use and improve blockchain technology in various ways. Some of the most well-known early Altcoins include Litecoin (LTC), Ripple (XRP), and Ethereum (ETH). Ethereum, founded by Vitalik Buterin, was particularly distinct from Bitcoin, as it enabled the creation of smart contracts and decentralized applications (DApps).

Market Growth and Volatility

The cryptocurrency market grew rapidly, and with it public attention. The value of Bitcoin and other cryptocurrencies experienced extreme fluctuations. Highlights such as the end of 2017, when the Bitcoin price nearly reached 20,000 US dollars, alternated with sharp market crashes. This volatility attracted both investors and speculators.

Regulatory Challenges and Acceptance

As the popularity of cryptocurrencies rose, governments around the world began to grapple with the regulation of this new asset class. Some countries adopted a friendly stance and encouraged the development of crypto technologies, while others introduced strict regulations or outright banned cryptocurrencies. Despite these challenges, the acceptance of cryptocurrencies in the mainstream has steadily increased, with companies and financial institutions starting to adopt them.

Recent Developments and the Future

In recent years, developments such as DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens) have broadened the range of possibilities offered by blockchain technology. DeFi enables complex financial transactions without traditional financial institutions, while NFTs allow for the tokenization of artwork and other unique items.

The future of cryptocurrencies remains exciting and uncertain. Questions about scalability, regulation, and market penetration remain open. Nevertheless, interest in cryptocurrencies and the underlying blockchain technology is stronger than ever, and their role in the global economy is expected to continue growing.

Advantages of Investing in Cryptocurrencies

1. High Return Potential

Cryptocurrencies are known for their high potential returns. Investors who got in early on projects like Bitcoin or Ethereum have made substantial gains. This high return makes cryptocurrencies an attractive investment opportunity for risk-seeking investors.

2. Independence from Traditional Financial Systems

Cryptocurrencies offer an alternative to the traditional financial system. They are not bound to the policies of a central bank, making them an attractive hedge against inflation and economic instability.

3. Innovation and Technological Development

Investing in cryptocurrencies also means investing in new technologies. Blockchain, the technology behind many cryptocurrencies, has the potential to revolutionize numerous industries, from financial services to supply chain management.

4. Liquidity

Cryptocurrency markets operate around the clock, which means high liquidity. Investors can buy and sell their assets at any time, which is a clear advantage compared to traditional markets that are tied to opening hours.

Disadvantages of Investing in Cryptocurrencies

1. High Volatility

Cryptocurrencies are known for their extreme volatility. The value of cryptocurrencies can rise or fall quickly and unpredictably, posing a high risk to investors.

2. Regulatory Uncertainty

The regulatory landscape for cryptocurrencies is still emerging and varies greatly from country to country. This uncertainty can lead to risks, especially when new laws and regulations are introduced.

3. Security Risks

While blockchain technology is considered very secure, there are risks associated with the storage and exchange of cryptocurrencies. Hacks and fraud are not uncommon in the crypto world, which requires additional precautions.

4. Lack of Understanding and Acceptance

Many people do not fully understand cryptocurrencies and the underlying technology. This lack of understanding can lead to misguided investments. Additionally, the acceptance of cryptocurrencies as a means of payment is still limited.