July 9, 2019
2 min. read
We are thrilled to announce that we have decided to support the xDai Stable Chain as its 10th validator and were voted by the existing validators through on-chain governance to join the network.
The xDai Stable Chain has been initiated by our friends at POA Network. It is an Ethereum sidechain with bridged Dai serving as a native token to the xDai Stable Chain. Dai’s can be transferred seamlessly between the two chains. In contrast to Ethereum, the xDai Stable Chain is specifically designed to support fast transactions (the xDai Stable Chain has a block times of 5/sec) and low, predictable gas fees. As such the xDai Stable Chain is the perfect chain for end user Dapps that wish to capitalize on the features of a truly decentralized stable coin.
The Burner Wallet is the most prominent application that runs on xDai Stable Chain as of writing. It is the best browser wallet out there to facilitate usage of blockchain systems for easy everyday purchases. We have been big fans of the Burner Wallet from the get go and it has been an inspiration to our Minerva Cash browser wallet which started off as a fork of the Burner Wallet and is now being developed to grant simple access for everyone to make our vision of a zero-carbon society a reality.
We expect a lot of great use cases atop this chain and it is currently the best option to actually use Dai in an easy, user friendly environment. That is why we are keen to support its development and are delighted to contribute to it. But there is more:
As we have already announced earlier, there is more cooking in the kitchen. Together with POA Network we are currently implementing the Honey Badger (HBBFT) consesus mechanism in each of our respective blockchain networks. As part of that we are also transitioning towards a POSDAO / DPOS governance system as described in more detail in POA Network’s Forum. This is quite a daunting undertaking and requires quite a bit of diligence. The first chain that will transition to POSDAO will be the xDai Stable Chain and as such we are further vetted in its success. As a validator we can contribute to figure out configuration and governance details and hence make sure we are fully prepared when the transition of the ARTIS Blockchain system to POSDAO / DPOS can be executed.
In our next posts we will dive deeper and explain why the combination of Honey Badger with POSDAO / DPOS is the ideal fundament for a second layer Ethereum scaling solution such as the ARTIS Blockchain and also dive into the network’s token economics and governance. Stay tuned!