ChainX update: PCX Live price, price chart, news and markets

The PCX price update as of now is $0.02283. In the previous 24 hours, its trading volume was $12,276, and its value has increased by 19.22%. As of now, PCX's live market cap is $285,498, and it is ranked as the #1987 on the Coincu. PCX has a circulating supply of 12,505,375 and a maximum supply of 12,505,375.

Introducing ChainX (PCX) ChainX is a blockchain platform designed to facilitate the seamless interaction of native assets across various blockchain networks. This is made possible through the use of parachains and a Proof of Stake (PoS) mechanism to achieve consensus. One of the key features of ChainX is its ability to enable staking of coins that do not natively support this functionality, such as Bitcoin. Initially launched as a Single-system chain, the project has now evolved into a Dual-chain network and currently operates as a Multi-chain system, offering support for multiple other blockchains. ChainX stands as one of the early projects developed on Substrate, which allows for the creation of cryptocurrencies and other decentralized systems. Projects built with Substrate can seamlessly integrate with the Polkadot network, ensuring a smooth and straightforward integration process. The Challenges Addressed by ChainX ChainX aims to resolve several challenges in the blockchain technology space, including: - The decentralization and fairness of the Proof of Work (PoW) algorithm, which can still be easily monopolized by large miners, leaving smaller miners with the burden of expensive mining equipment. - The lack of fairness in the Proof of Stake (PoS) algorithm, where the confirmation vote heavily relies on the number of coins held by an individual. - The slow transaction speed on existing blockchain networks. - The limited integration of Smart Contracts, as evidenced by Ethereum's inability to transition to PoS. - The lack of interoperability between different blockchains, preventing seamless cooperation. ChainX's Innovative Solution To address these challenges, the ChainX development team utilized Polkadot's Substrate to create their own unique blockchain. The solution offers the following key features: - ChainX calculates mining power based on the market value of coins, eliminating the need for expensive mining equipment. - The platform employs the PoS algorithm to establish a fair and competitive mining environment. - Faster transaction speed for enhanced efficiency. - Enables seamless integration of Smart Contracts and smooth transitions across different platforms. - Facilitates cross-chain cooperation, allowing every chain to connect with the ChainX network. ChainX's Roadmap - ChainX v1 represents the initial generation of ChainX, enabling the integration of inter-chain assets from various networks such as BTC, LTC, ZEC, ETH, ERC-20, ERC-72, ADA, and EOS. This expansion boosts the user base and allows participation in mining and asset extraction. - In Q4 2019, ChainX plans to release ChainX v2, introducing a new Relay chain parallel to Polkadot. This chain will connect Polkadot assets and support the development of additional decentralized applications (dApps) within the community. - In 2020, ChainX will launch ChainX v3, which will evolve into a multi-architecture chain serving as Polkadot's Relay Network layer 2. - The project has recently launched a dApp system that enables users to experience low transaction fees of only 0.1% and rewards miners with up to 10% of transaction fees.