SX Network update: SX Live price, price chart, news and markets

The SX price update as of now is $0.00002595. In the previous 24 hours, its trading volume was $434, and its value has decreased by -10.39%. As of now, SX's live market cap is $14,492, and it is ranked as the #6792 on the Coincu. SX has a circulating supply of 999,253,979 and a maximum supply of 999,253,979.

The Significance of SX Network

SX Network, the largest blockchain prediction market ecosystem worldwide, comprises three interrelated platforms that revolutionize the industry. These platforms include:

SX Bet

SX Protocol

SX Blockchain

The uniqueness of SX Network lies in its stand-alone smart contract blockchain with a native prediction market protocol. It caters specifically to blockchain application developers, providing EVM-compatibility, cost-effective transactions, and a PoS-based consensus model. The SX token functions as the native unit of account on the SX Network, serving various purposes such as transaction fee payment, validator staking bond, and governance empowerment. With over 50% of the SX supply allocated to the on-chain treasury in the next four years, the SX Network can fund community growth and technical innovations. Additionally, by incorporating a built-in prediction market protocol, SX Network pioneers the implementation of the futarchy governance system on a large scale.

SX Bet: Empowering Peer-to-Peer Betting

SX Bet stands out as a peer-to-peer betting exchange that allows users to create and accept bets. Unlike conventional sportsbooks, SX Bet's peer-to-peer model enhances odds and eliminates potential owner exploitation. This model also removes betting limits, allowing users to offer or fill any available bet without restrictions. A significant advantage of SX Bet is its ability to enable users to dictate their odds and act as the bookie. Bet offers can be manually generated through the SX Bet UI or programmatically via the SX API. These offers are presented side-by-side on the SX Bet exchange front-end, providing bettors with a wide range of options.

An Insight into SX Protocol

The SX Protocol consists of open-source smart contracts that drive the entire SX prediction market ecosystem. It facilitates the creation, processing, and settlement of all on-chain bets. The protocol encompasses control mechanisms, configurable fees, maintenance controls, and network rules. Additionally, it incorporates governance logic, allowing SX stakers to manage the Community Treasury. This section primarily focuses on the process of market creation and betting within the SX Protocol.

Introducing SX Blockchain

Initially deployed on the Ethereum blockchain, SX later became one of the first applications launched on the Polygon PoS network in September 2020. However, the SX core team identified several long-term risks and limitations associated with the Polygon PoS environment. These risks include rising costs on Polygon, lack of blockchain sovereignty, and misaligned incentives. To address these concerns and ensure a sustainable future, the SX Blockchain was conceived. This stand-alone public blockchain combines a smart contract platform, an on-chain community treasury, and a native prediction market protocol. By integrating these elements, SX Network aims to become the first smart contract blockchain to implement a market-based governance system for both its treasury and network parameters.