Staking Design of ChainX Asset Inter-chain Nodes

The Staking of PCX in ChainX is the same as that of general PoS projects, for security and community governance, but the staking of inter-chain assets such as BTC is for decentralization and decentralization of currency holders. Satoshi Nakamoto designed BTC, the long-term distributions of 21 million bitcoins, so that all people from different time period can come into participate in BTC, so that the holders are sufficiently dispersed. Now PoS has a pain point for the concentration of currency holders, because the early coins are concentrated in the hands of early investors. This will cause the PoS chain to always be an issue for early investors, and it is difficult for later people to participate.

The purpose of staking in BTC and SDOT is to decentralize the holders. At the same time, BTC over the chain has a very important role, because the BTC 10min block has been changed to 2s one block, the TPS has increased from 7 to thousands, and the handling fee has been reduced from tens of blocks to a few cents. As introduced in the previous article, inter-chain BTC, that is, X-BTC will be sent to the Polkadot network in the future, becoming the most trusted inter-chain asset, allowing BTC to truly have scalability and can be circulated to any Polkadot parachain for Dapp incentives.

The PCX of ChainX is the same as the ETH of Ethereum. The second aspect is that currency can be used as the basis of Dapp. Then, PCX has the attributes of ATOM in Cosmos, voting for mortgage management, and maintaining the security of the ChainX network.

About ChainX

ChainX is the largest Layer-2 network of Bitcoin, based on Substrate, and will evolve into the Polkadot Secondary Relay Chain.