What is Chain? All You Need to Know About XCN

What is Chain?

Chain is a leading provider of blockchain-based solutions for the financial industry. The company offers a range of products and services designed to help businesses and organizations leverage the power of blockchain technology to create innovative financial products and services.

One of the key offerings from Chain is its closed-ended blockchain network, which allows businesses to adopt blockchain technology without the risks associated with public networks. This network provides a secure and reliable platform for businesses to issue, store, and transfer digital assets, enabling them to create new financial products and services that are faster, more efficient, and more transparent than traditional financial systems.

In addition to its closed-ended network, Chain also offers a range of ecosystem products that help businesses integrate with the blockchain and build applications that leverage its capabilities. These products include Sequence, a ledger infrastructure for modern applications; Chain NFTs, a service for creating and managing non-fungible tokens; and Chain Cloud, a set of remote procedure call (RPC) API endpoints and fully managed nodes that make it easy for developers to build applications that integrate with the blockchain.

Chain is dedicated to helping businesses and organizations create a smarter and more connected economy through the power of blockchain technology. With its innovative products and services, the company is well-positioned to help businesses and organizations around the world transform the way they do business and create new opportunities for growth and success.

History of Chain (XCN)

Chain is a company that uses blockchain technology to create cryptographic ledgers and cloud infrastructure for financial products and services. The company was founded in 2014 and has received funding from various investors, including Khosla Ventures, Pantera Capital, Capital One, Citigroup, Fiserv, Nasdaq, Orange, and Visa.

In 2018, the company was acquired by Stellar and became a part of Interstellar, a commercial arm of the Stellar Foundation. In 2020 Chain was re-acquired and is now operating as a privately held corporation with a mission to build a more robust global financial system through blockchain technology.

Over the past few months, the XCN team has made significant progress toward achieving its goals, with several major updates and developments to the project. One of the most significant updates to the XCN in recent years was the release of its mainnet, which went live in early 2022. This marks a major milestone for the project, as it now offers a fully functional blockchain network that can support decentralized applications and smart contracts.

In addition to the mainnet launch, the XCN team has been working on several new features and enhancements to the platform. One of these is the integration of a new consensus algorithm, which offers improved speed and scalability compared to traditional blockchain consensus mechanisms.

The XCN team has also been actively engaged in building partnerships and collaborations with other blockchain projects and companies. These partnerships aim to promote the adoption of the XCN platform and expand its reach to new markets and use cases.

Looking ahead, the XCN team has ambitious plans for the future of the project, including the development of new features and applications, the expansion of the platform’s user base, and the continued growth of its ecosystem.

How does Chain Work?

Making multiple blockchains work together

Chain allows multiple, independent blockchain networks to work together, even if they are operated by different organizations. It uses the principle of least authority to separate control over assets from control over ledger synchronization, ensuring that all parties are protected.

The Chain cloud protocol enables network participants to define and issue their own assets using “issuance programs.” Once issued, units of an asset are kept in custody by “control programs,” which are written in a flexible and Turing-complete programming language that can be used to create advanced smart contracts for blockchain networks.

The network is secured by a group of “block signers” and the system is protected against forks as long as a majority of block signers follow the protocol. The protocol also designates a single “block generator” to create blocks, while any node on the network can validate blocks and submit transactions.

Chain’s Main Features: Sequence, Chain Cloud, Chain NFT and Chain Enterprise

Sequence

Sequence is a ledger infrastructure for modern applications that was developed by the Chain project. It is designed to provide a secure and scalable platform for building decentralized applications (DApps) and conducting transactions on the blockchain.

One of the main features of Sequence is its support for smart contracts. Smart contracts are self-executing contracts with the terms of the agreement written into code. They allow for the automatic execution of contracts when certain conditions are met, enabling the automation of complex processes and the creation of decentralized autonomous organizations (DAOs).

In addition to smart contracts, Sequence also offers a number of other features that make it well-suited for building DApps:

• Multi-asset support: Sequence allows for the creation and management of multiple assets on the same ledger, making it easy to build applications that involve multiple types of assets.
• Customizable rules: Sequence allows developers to customize the rules and logic that govern their DApps, giving them greater control over the functionality and behavior of their applications.
• Scalability: Sequence is designed to be highly scalable, allowing it to handle a large number of transactions and users without sacrificing security or performance.

Source: Sequence - Chain

Chain Cloud

Chain Cloud is a set of remote procedure call (RPC) API endpoints and completely automated nodes that are provided by the team behind the Chain project. It is designed to make it easy for developers to build applications that integrate with the Chain network and conduct transactions on the blockchain.

This product uses RPC API endpoints. These endpoints allow developers to access the functionality of the Chain network and conduct transactions through a simple API. This makes it easy to integrate Chain into a wide range of applications and systems.

Chain Cloud also includes completely automated nodes, which are nodes on the Chain network that are fully managed and maintained by the team behind the Chain project. These nodes allow developers to access the blockchain and conduct transactions without having to worry about setting up and maintaining their own nodes.

Source: Chain Cloud - Chain

Chain NFTs

Chain NFTs is a service provided by the Chain project that helps businesses and organizations create and manage non-fungible tokens (NFTs). NFTs are a type of digital asset that represents ownership of a unique item or piece of content. They are often used in the art and collectibles market, but they have also been applied to a wide range of other industries, such as gaming, real estate, and more.

This feature provides a range of services to help businesses and organizations create and manage NFTs, including:

• NFT strategy: Develop a strategy for using NFTs, including identifying potential use cases and determining the best way to implement NFTs into their existing operations.
• NFT development: Create and design their NFTs, including developing the underlying smart contracts and creating the user experience.
• NFT execution: Launch and manage their NFTs, including handling the distribution and sale of the NFTs and providing ongoing support and maintenance.

Source: NFT-as-a-service - Chain

Chain Enterprise

Chain Enterprise helps businesses and organizations implement blockchain technology into their operations. The team has partnered with industry leaders to bring blockchain networks to market and has a track record of successfully developing and deploying blockchain-based systems for a wide range of clients.

This product offers a range of services to help businesses and organizations implement blockchain technology, including:

• Prototyping: Develop prototypes of blockchain-based systems, allowing them to test and validate the technology before moving to production.
• Development: Develop and build custom blockchain-based systems to meet their specific needs and requirements.
• Deployment: Deploy their blockchain-based systems, including handling the setup and configuration of the necessary infrastructure.
• Maintenance and support: Chain Enterprise provides ongoing maintenance and support for deployed blockchain-based systems, ensuring that they are running smoothly and efficiently.

Source: Chain Enterprise - Chain

Chain Prime

Source: Chain Prime - Chain

Chain Prime is an automated over-the-counter (OTC) trading system that has been developed by Chain, the top provider of blockchain infrastructure and Web3 services, to give customers access to deep liquidity through the Chain Engine.

To give users the best execution rates, Chain Prime will be built to combine centralized order books from leading exchanges. Chain Prime won’t charge a significant fee or a hefty spread to conduct huge volume deals, in contrast to traditional OTC providers. Instead, the entire process—including settlement and distribution to confirmed accounts—is automated by its in-house Chain Engine. Chain Prime will be accessible around-the-clock, 365 days a year, but not everywhere.

Chain Governance

Chain Governance is designed to allow community members to have a say in the direction and development of the project, ensuring that it reflects the needs and desires of its users.

The Chain Governance system is based on a voting process in which community members can propose and vote on proposals for changes and improvements to the project. These proposals can range from technical updates and improvements to changes in the direction of the project.

Its system is designed to be transparent and open, with all proposals and votes being publicly recorded on the blockchain. This ensures that the process is open and transparent and allows community members to track the progress of proposals and see how their votes have been counted.

Source: Whitepaper - Chain

What is the XCN Token?

XCN is the native token of the Chain project, also known as Chain Token or simply Chain. It is a decentralized, open-source cryptocurrency that was launched in 2014 and is based on the CryptoNote protocol. The main purpose of XCN is to provide a fast and secure way to conduct transactions online, addressing issues such as slow transaction times and high fees that are often associated with traditional payment methods.

One of the main features of XCN is its focus on anonymity and privacy. The CryptoNote protocol uses a unique form of cryptography called “ring signatures” to provide anonymity for transactions, making it difficult to trace the origin of a transaction back to a specific individual. This makes XCN an attractive option for those looking to conduct private transactions or avoid the restrictions of traditional financial institutions.

In addition to its focus on privacy, XCN is also designed to be resistant to mining centralization and censorship. It uses a proof-of-work algorithm called “CryptoNight,” which is designed to be ASIC-resistant and require less computational power to mine. This makes it more accessible to individual miners, rather than being dominated by large mining pools.

XCN has a number of use cases, including as a means of payment for goods and services, as a store of value, and as a means of conducting cross-border transactions. It has been adopted by a number of merchants and organizations as a means of payment and has gained popularity as a means of conducting transactions privately.

Source: XCN - Chain

Is Chain (XCN) a Good Investment?

Chain has a strong track record of active development and has a dedicated team of developers working to improve and update the token. The team has released several updates and improvements to the token since its launch and remains actively involved in the community.

The project has a strong focus on privacy and decentralization, which are important features that are likely to become increasingly valuable in the future. With increasing concerns about data privacy and the centralization of power and resources, decentralized, private technologies like Chain are likely to become more popular. It also has a number of potential use cases, including as a means of payment for goods and services, as a store of value, and as a means of conducting cross-border transactions.

How to Own XCN

One way to own XCN is to go through a crypto centralized exchange. The first step is to create a Gate.io account and complete the KYC process. Once you have added funds to your account, check out the steps to buy XCN on the spot or derivatives market.

Take Action on XCN

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