Polkadot/Substrate and ChainX - Why they Matter for Ethereum and Defi

gamefiat89 (28)in #polkadot • 4 years ago (edited)

While much of the focus for the past few months has been on Defi and generally focusing on Ethereum projects leading the space.

Projects like RenVM and Aave have shown what Ethereum can do when you plug it into that use but extremely valuable rock that is Bitcoin.

Im sure you are fucking loving those gas prices am I right? Swappjng has been insane lately, bancor and kyber have fees that are almost criminal plus the netwrok is once again jammed up.

So how does ChainX fit into this? Well Parachains and the need for bridges my friends. Becuase of Polkadot, Ethereum will be able to scale to transaction speeds that will make visa and master card look like the dark ages.

Once Polkadot Launches in the coming months, all the already built projects on the networl will start to see exponential use and the need for scailing becomes a must due to Defi and the inevitable FOMO from institutional investors.

This is the biggest thing that is coming to Defi and Ethereum must be ready for the network to be assualted by never before seen activity. This is why Polkadot and the Web3 foundation will play such a massive role in the coming together of the blockchain space.

So where does ChainX fit into this? Well its the second layer of Polkadots relay chain built on the WASM. Its already mapping sDOT into the millions and as well has a serious amount of its own native PCX token locked into inter chain mining as well as thousands of BTC locked up for the same processes.

Best thing to do if you are curious about this project is to go to their website and read their litepaper and whitepaper, join their telegram group AND buy PCX and store it in your Math Wallet.

You can also stake on the MXC Exchange where you can buy PCX for a 38% annual return on PCX at the moment.