Review on xDai by francis fernandez
XDai: a stable ecosystem
When selecting the cryptocurrency that we need to operate efficiently within electronic commerce, we must consider those digital currencies that offer us multiple services and tools to solve various situations.
XDai is a multifunctional platform that allows its users to make payments for goods and services using their native currency as a form of payment, make a large volume of asset transfer quickly, exchange digital assets and fiat currencies without intermediaries and at low cost.
Token:
xDai is a digital asset that operates as collateral to the Ethereum chain and its main advantage is that it has a direct connection with the US dollar, maintaining a 1: 1 stability; that is, 1 xDai = 1 USD.
Another important feature of the xDai token is that its mintage is backed by the Dai token in a 1: 1 ratio; since it is generated from this native asset of the MakerDAO chain.
Technology:
Because xDai operates on a collateral chain of Ethereum, it enjoys the same technological infrastructure of this robust network.
In this sense, xDai uses smart contracts to block the Dai funds necessary to generate the same amount of required xDai tokens; using the Bridge token as an intermediary to transfer the created xDai tokens.
Another important advantage of the xDai platform is the high compatibility of its collateral chain with the main structure of Ethereum; being able to execute all the contracts executed on the Ethereum base in its chain. Thanks to this interoperability, your transactions are less expensive and faster.
Pros
- It is a currency with stable value
- Offers low transaction fees
- Serves as a secure payment mechanism
- Allows to execute fast operations
Cons
- It has no disadvantages
