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Table Of Contents
*Note that Chain has re-branded, and is now known as Onyxcoin (XCN)*
Chain (XCN) is an enterprise-grade cloud-based blockchain infrastructure provider. The protocol seeks to drive large-scale adoption across the business sector via a combination of tools. Chain combines an advanced decentralized cloud network that offers blockchain access on demand, NFT as a service, Sequence, and more. Here's everything you need to know about Chain (XCN).
What Problems Does Chain Attempt to Fix?
One of the main issues that Chain attempts to reduce in the market is new user confusion. The protocol focuses on onboarding in multiple ways. For one, it eliminates technical boundaries via the protocols click deployment. The platform has professionals that work with businesses to help them get their blockchain products off the ground.
Another problem faced by businesses is understanding how to leverage NFT technology in the most effective way. Chain reduces this issue through the integration of a development structure, with the platform helping in all stages of the NFT launch. Companies gain valuable insight and guidance regarding compliance, integrating fiat conversions, and much more.
One of the biggest problems faced by cloud computing users today is centralization. Massive networks run by tech firms like Amazon, Google, and Microsoft dominate the sector. They use their positioning to control features and pricing to eliminate any competition before it gains momentum.
Chain provides a viable decentralized alternative to these large tech firms. It offers lower fees and is more open to use by the international community. In this way, Chain reduces centralization for anyone leveraging cloud computing options and seeking blockchain access.
One of the biggest advantages of decentralized cloud computing protocols is their performance. Unlike centralized cloud platforms that lose strength as the information is sent further from the transmission point or more people join the network, blockchain-based cloud computing platforms gain performance.
The more users on a decentralized cloud computing protocol, the more secure and responsive the network performs. This performance boost is because the protocol leverages individual network nodes rather than a centralized broadcasting structure.
Lack of Accessibility
Another major concern for enterprise clientele is gaining reliable access to decentralized infrastructure when needed and integrating it into their existing systems. Chain offers these clients the ability to access blockchain networks on-demand using its secure platform.
Lack of Scalability
Scalability is a primary concern when building a blockchain. These networks need to be able to scale vertically to meet the exponential growth demands of the sector. Chain tackles scalability head-on using a combination of factors that enable the protocol to provide more flexibility than earlier networks.
Benefits of Chain
There are a lot of benefits that Chain introduces to the market. The protocol operates as an industry-leading Web and Blockchain cloud infrastructure provider. The system was built from the ground up to meet developers' needs, making it ideal for the creation of decentralized applications.
One of the biggest advantages of Chain is its non-custodial format. This structure is superior because it never separates you from your cryptocurrency. All transactions are conducted with your funds in your wallet until the time of the transactions. This approach ensures you will never lose access to your crypto due to upgrades or outages.
Additionally, it makes it less attractive to hackers to attack the platform. There are no large community wallets that can yield massive fortunes. As such, most hackers prefer to focus on custodial options with major payouts for their actions.
Anyone can earn ‘XCN', the platform's utility token, through various forms of participation. The protocol enables users to stake and secure passive income. Staking is a popular option that enables you to secure consistent returns without the risk of losing your original asset. As such, it's a wiser option for new users versus trading.
How Does Chain Work?
The chain operates as a permission-less infrastructure that businesses can simplistically deploy. The protocol combines the Chain Cloud and Sequence features to empower developers and users to leverage blockchain capabilities to their fullest. Notably, the protocol even provides operational support.
Chain Cloud is the premier product offered by Chain. This decentralized cloud service provides users with better security and performance at lower fees than the nation's top competitors. Chain Cloud is fully decentralized and offers censorship-resistant fully encrypted services to the public. Enterprises can integrate blockchain protocols with less effort using Chain Cloud's helpful interface.
One of the main focuses of Chain was to ensure that NFT users could maximize their returns. The protocol has a complete NFT support suite. They can easily create NFTs to improve their user reach. These digital collectibles can operate as tickets, art, music, and much more. Best of all, creators can bounce their ideas and ask questions to the Chain NFT experts.
The sequence is another major offering from Chain. This infrastructure is what simplifies Dapp creation on the network. The protocol offers a variety of tools that eliminate coding requirements and other technical issues that could limit a new user's ability to create blockchain applications.
XCN operates as the main utility token for the network. This token is required to leverage the network's services and features. You can also use XCN to send value internationally. The token is available on many top-performing DEXs and CEXs.
Chain entered service in 2017 and was acquired by Stellar in 2018. The acquisition was part of Stellars, ‘Interstellar movement'. Two years later, the network was re-aquired and renamed back to Chain. Today, Chain is a popular option for traders and businesses alike.
How to Buy Chain (XCN)
Currently, Chain (XCN) is available for purchase on the following exchanges.
Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.
Kraken – Founded in 2011, Kraken is one of the most trusted names in the industry with over 9,000,000 users, and over $207 billion in quarterly trading volume.
The Kraken exchange offers trading access to over 190 countries including Australia, Canada, Europe, and is our most recommend exchange for USA residents. (Excluding New York & Washington state).
Chain – Infrastructure for Businesses seeking Blockchain Solutions
Chain is part of a larger movement within the crypto space to service enterprise clientele. The cat is out of the bag in terms of blockchain efficiency. Now there is a race to provide enterprise clientele with the best features to make the integration. As such, Chain continues to operate as a pioneer in this sector, making it a nice addition to any portfolio seeking projects with long-term growth potential.
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