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STAKE

The founder of xDai (STAKE) is Igor Barinov. He is also the founder of the POA Network, an R&D company whose mission is to ensure that the Ethereum protocol is cheap, fast, secure and scalable. Barinov has developed several projects in the past, such as BlockScout and TokenBridge.

Igor Barinov is also a co-founder of Block Notary, Forcera OU and is a blockchain consultant at Acronis.

xDai is a derivative of the DAI cryptocurrency, which is a stablecoin whose price is pegged to the US Dollar. The cost to perform a transaction with xDAI is $0.000021 USD. Such a transaction takes up to five seconds.

xDai can be received or sent to another user through the usage of the Dex Wallet mobile application, or the Poketto xDai mobile wallet.

The xDai chain uses the ERC20-to-native TokenBridge functionality to provide stable, fast and inexpensive transactions.

xDai’s (STAKE) circulating supply is at 4,058,408 STAKE as of February 2021, with a maximum supply of 8,537,500 STAKE.

xDai provides virtual public utility for users. The xDai token is used to secure the xDai chain by validators and delegators. Users can participate in chain consensus and stake their xDai to secure the chain and receive rewards.

Two bridges connect the xDai Stable Chain to the Ethereum mainnet that supports seamless two-way asset transfer between the chains. The tokens are acquired on the mainnet and then bridged to the xDai sidechain through the usage of the DAI-xDai bridge for transaction tokens; the OmniBridge is used for cross-chain transfers.

It is important to note that xDai runs on the public POSDAO consensus and delegated proof-of-stake and anyone with enough STAKE to run a node can become a validator. Delegators help determine the validator bet by placing STAKE on candidates that they want to see become validators.

If you want 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, see our in-depth guide here.

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