“End-to-end encryption has always been a controversial topic. Coming will work with the government to find solutions to ensure the safety of citizens without compromising user privacy or network security.” The founder of Coming said, “Coming is like an encrypted world. Wechat will have both security and privacy at the same time.”
Coming is built with the well-renowned Signal protocol, which can truly realize end-to-end communication encryption. The reason why Coming chose to cooperate with ChainX is mainly based on four advantages.
ChainX is the first project to run on Substrate
The PolkaX development team started to study the Polkadot white paper as early as 2016, and successfully ran the first public chain ChainX based on Substrate. PolkaX can be called the world’s first batch of Substrate builders.
The Substrate framework is currently the best blockchain technology framework in the world. It has strong development scalability and is compatible with the ed25519 algorithm, which is also compatible with the Signal encryption algorithm. A perfect match. ChainX has proven the resilience of Substrate for nearly two years now. They have matured the technology and grown a healthy community with a large userbase, something we value dearly.
ChainX is pure decentralized cross-chain technology
ChainX uses Wasm technology to implement Bitcoin light nodes, supporting POW verification of Bitcoin block headers and complete transaction proof verification, making the cross-chain from Bitcoin to ChainX fully realize decentralization and Bitcoin-style security. Now proven with almost two years of service. The light node cross-chain is a purely decentralized cross-chain, perfectly in line with Coming’s design principles.
ChainX has created an on-chain DEX (decentralized exchange), allowing for free exchange of X-BTC with other tokens. When Coming is ready, we will introduce XBTC as a means of payment. XBTC is the better option as it has a faster transfer speed and lower handling fee, only 6 seconds, and fees of less than 1 cent. ChainX’s Bitcoin smart-contract platform has many advantages, including high-latitude decentralization, low-cost use, and the adoption of a more secure contract language, even outperforming other Bitcoin auxiliary projects of the same type.
The ChainX trust mechanism is the same as the Central Bank Digital Currency Bridge Project
ChainX’s technology is at the forefront of the crypto market. Its trust mechanism is the same as what the m-CBDC Bridge project will use. The Multilateral Central Bank Digital Currency Bridge research project was announced by the Hong Kong Monetary Authority, the Central Bank of Thailand, the Central Bank of the United Arab Emirates and the People’s Bank of China Digital Currency Research Institute, using the same technology as ChainX. A testament to its quality and a reason for the Coming team to be very excited about its development.
ChainX mirroring cross-chain will become a means of crypto-asset circulation
ChainX assumes the role of Polkadot’s cross-chain digital asset network. The circulation of assets is the driving principle of cross-chain technology. What ChainX wants to achieve is to allow any Polkadot project to use any asset. Through its design, any asset can be cross-chained on ChainX.
The essence of ChainX mirroring cross-chain makes that by holding X-BTC on the ChainX parachain, all other currencies across the chain can be mirrored with it, which will bring any cryptocurrency as a means payment and circulation to Coming.