Review on xDai by Paul Maduagwu
xDAI Layer 2 is interesting.
As mentioned in the pro section, xDai is a Layer 2 project built on Ethereum. Its fast transaction speed (5 seconds) and low transaction cost makes it almost perfect for running highly demanding Dapps (Decentralized apps). Though it has its competitors.
The token is available on Ethereum, thus is an ERC20 token and can be stored on any Ethereum compatible wallet. Quite a number of dapps are built on xDai and running smoothly as we can see it gets over 20k transactions daily. But its in a competitive market and in my opinion isn't the most effective Layer 2 solution. Its token is doing better than most pricewise though, its worth mentioning that the xDai token $STAKE was very profitable this year.
Some layer 2 have already sold their projects due to the competition, Layer 2 technology is growing fast, lets see how long xDai can last.
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Pros
- Layer 2 project. Fast tx and low transaction. Good for building Dapps.
- Listed on popular exchanges.
- Good social media updates.
- Token can be stored on any Ethereum compatible wallet.
Cons
- Its usecase is competitive. It works, but is not the most effective layer 2 at the moment.
- This Layer 2 platform is lacking in user experience.
- Developers might be moving to more popular projects in the near future.
