True financial independence means that you can sustain your chosen lifestyle entirely from your investments’ interest and dividends. The first step towards saving money is generally getting an…
I highly advise you to read the whitepaper to fully understand, but I’ll try to give a small summary below.
ChainX is a community-driven project built on the next-generation blockchain framework substrate, the largest Layer-2 network of Bitcoin using the Light-client protocol with smart contract support, will evolve into the Polkadot network as a secondary relay chain in the future.
Its economic system is similar to bitcoin, where it’s total amount will be capped at 21 million and it’s reward halved every 2 years. Mining is done by Asset (BTC ETH FIL etc.+) and PCX staking. Holding an X-Asset like X-BTC, mines PCX which can be used for transaction fees.
ChainX adopted the light client inter-chain technology. Asset crossing chains is a process in which a user locks the asset in the original chain, maps asset onto the target chain where withdrawal is available, and finally unlocks the asset in the original chain.
Assets do not disappear in the original chain, but instead are transferred to the decentralized trust of Light Node Protocol, or to a centralized trust managed by an individual or individuals.
Pictures may speak a thousand words, but a video simply walks you through.
In words: After importing or creating your wallet, you go to the Dapps tab, Chainx Staking Tool, find ExxiBox and stake your PCX. From there you can also select the node and claim your interest.
That’s it, welcome to ChainX!
Alternatively there’s a desktop wallet you can use instead, which I made a guide for here:
Taken from CoinGecko there’s three exchanges that currently list PCX.
They are pretty much the same so pick the one you like most. The only difference is MXC has a much higher volume.
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