| General information | |
|---|---|
| Global rank: | 3320 |
| Name: |
xDAI |
| Symbol: | xDAI |
| Current coin price (BBD): | 2.03 $ |
| Last hour: | arrow_downward-0.370 % |
| Last 24 hours: | arrow_downward-0.710 % |
| Last 7 days: | 0.510 %trending_up |
| Capitalisation (BBD): | 0.000000 $ |
| Volume 24h (BBD): | 465 717.29 $ |
| Available supply: | 0.000000 xDAI |
| Total coin supply: | -1 xDAI |
| Start date: | 2018-10-08 |
xDAI/Barbadian Dollar (xDAI/BBD) price chart
xDAI/Barbadian Dollar (xDAI/BBD) capitalisation and volume charts
xDai is an Ethereum sidechain designed to facilitate fast and affordable transactions with a token anchored to the US dollar. The primary token, xDai, is valued at $1 USD and is directly backed by Dai, a stablecoin active on the Ethereum mainnet. In the context of the Gnosis platform, xDai tokens serve as native tokens. The generation of xDai on the Gnosis chain takes place when Dai is moved to the xDai bridge. During this process, the bridge's validators mint xDai through the Gnosis reward native contract.
xDai stands as a versatile solution in the crypto landscape, addressing many challenges typical of leading networks. It primarily provides a solution to Ethereum's enduring scalability issues by offering swift transaction speeds at significantly reduced costs. With its anchor to the US dollar, xDai ensures stable transaction values, making it a more stable choice compared to numerous modern cryptocurrencies. Furthermore, its compatibility with the Ethereum mainnet enables smooth transfers between the two systems, enhancing its usability and flexibility. In the Gnosis platform, xDai tokens play a role in managing smart contract operations and covering gas charges.
The xDai chain was launched by POA Network in collaboration with MakerDAO, leveraging MakerDAO's DAI stablecoin to create the xDai stablecoin on the POA Network's platform.