xDai is a digital currency fixed to the value of the US dollar. Its underlying blockchain focuses on stable payments, aiming for quick and low-cost transfers. The network relies on proof-of-stake consensus for security and was established on Oct. 1, 2018.

STAKE serves as a multi-chain staking asset intended to protect the payment infrastructure. Through staking, validators and delegators help achieve transaction consensus and earn rewards for producing blocks. This mechanism is necessary only for those providing consensus, not for standard users making on-chain transactions.

The POA Network developed xDai. This organization launched an open-source public Ethereum side-chain in April 2017. It provides a smart contract framework that lets developers code on Ethereum efficiently while utilizing the features of the POA Network.

Igor Barinov is the founder of xDai (STAKE). He also established POA Network, an R&D firm dedicated to making the Ethereum protocol secure, scalable, fast, and cheap. His past development work includes projects like TokenBridge and BlockScout. Additionally, Barinov co-founded Forcera OU and Block Notary, and he serves as a blockchain consultant for Acronis.

xDai is derived from DAI, a stablecoin with a value tied to the US Dollar. Transactions on this network cost $0.000021 USD and are completed in up to five seconds. Users can send or receive xDai using either the Dex Wallet mobile app or the Poketto xDai mobile wallet.

The xDai network leverages the ERC20-to-native TokenBridge to enable transactions that are stable, quick, and low-cost. As of February 2021, the circulating supply of xDai (STAKE) stands at 4,058,408 STAKE, while the maximum supply is capped at 8,537,500 STAKE.

The xDai network functions as a virtual public utility, with its security maintained by validators and delegators who utilize the xDai token. Participants can contribute to chain consensus by staking their xDai, which helps secure the network and yields rewards.

Connectivity to the Ethereum mainnet is established through two bridges that enable smooth two-way asset transfers. Transaction tokens are moved from the mainnet to the xDai sidechain via the DAI-xDai bridge, while the OmniBridge handles other cross-chain transfers.

xDai operates on the public POSDAO consensus mechanism, which is based on delegated proof-of-stake. Any individual possessing sufficient STAKE to operate a node is eligible to become a validator. Delegators influence this process by assigning their STAKE to specific candidates they wish to see appointed as validators.

You can buy, sell, or trade xDai (STAKE) on these exchanges: