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About ChainX

ChainX (PCX) is a community-run layer2 network of bitcoin. The network aims to build a trustworthy and scalable Bitcoin layer-2, which is a secondary framework or protocol built on top of an existing blockchain network. This off-chain layer intends to increase Bitcoin’s payment speed as well as its function extension. ChainX’s community-run network aims to be the gateway to Bitcoin’s ecosystem as a layer-2 framework.

According to its whitepaper, due to the limitations imposed by block size and block production, Bitcoin falls short of providing a significant purpose when it comes to large-scale payments. Also, the network suffers from scalability issues. As a solution, Bitcoin’s reliability in the layer-2 network is built up by ChainX.

ChainX aims to allow the deployment of smart contracts using virtual machines such as EVM in order to achieve Bitcoin scalability and to provide a suitable development platform for Dapp developers. Virtual machines are sets of virtual space where code can run independently of the rest of the system. As a result, virtual machines help test new software or execute potentially harmful applications. Likewise, the Ethereum Virtual Machine (EVM) powers the Ethereum network’s nodes to execute smart contracts.

The platform aims to offer certain features like:

PCX is ChainX’s governance token. Accordingly, the token has three main utilities: governance, payment, and staking. PCX aims to represent the voting rights on the ChainX network, granting holders the ability to vote on protocols, products, new features, objectives, upgrades, and maintenance. Additionally, the network seeks to enable holders to stake their tokens in order to safeguard the network while also receiving incentives. Further, as a facilitator for the transaction process, ChainX charges transaction fees for the computational power through the PCX token.

Lipeng Yue co-founded the ChainX network in 2016 in China.

The PCX token has a total supply of 21 billion and halves every two years like Bitcoin. Halving is meant to reduce the supply of tokens in half to lower the availability even as the demand rises.

Market

Australia Market Stats

Market cap

A$3.7M

Volume (24h)

A$129,324.78

Circulating supply

12.5M PCX

All time high

A$30.22

Price change (1h)

-1.29%

Price change (24h)

-5.29%

Price change (7d)

-11.25%

Australia News about ChainX

Unchained • May 01, 24

Schonfeld Latest Wall Street Player to Make Push Into Bitcoin, Ether Options

Traditional finance multi-strategy hedge fund firm Schonfeld Strategic Advisors is pushing into crypto products. Schonfeld disclosed in SEC filings on March 29 investments in both bitcoin (BTC) and ether (ETH) futures. A number of Wall Street firms have been investing in crypto for the first time...

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Decrypt • May 01, 24

If the SEC Thinks Ethereum Is a Security, Are ETH ETFs Doomed?

It’s now looking like a long road ahead for ETH to come to Wall Street. But that’s a surprise to few.

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Blockworks • May 01, 24

Vitalik Buterin talks ways to make zk proofs more efficient

Binius operates over binary code and is designed to store information using bits

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Decrypt • May 01, 24

What Is Notcoin? The Telegram-Based Game, NOT Token, and Future Plans

UPDATED: When is the NOT token actually launching? Here's the latest, along with everything else you need to know about Notcoin.

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BeInCrypto • May 01, 24

Bitcoin, Ethereum, Solana Rebound as Fed Chair Jerome Powell Speaks

Cryptocurrencies like Bitcoin, Ethereum, and Solana rallied following the Fed's decision to maintain interest rates, reflecting investor confidence in a stable economic outlook.The post Bitcoin, Ethereum, Solana Rebound as Fed Chair Jerome Powell Speaks appeared first on BeInCrypto.

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The Block • May 01, 24

Memecoins look to be getting a second life

Earlier in the month it seemed like the memecoin sector’s flourish was diminishing, but it looks to be getting a second life this past week.

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ChainX is on the decline this week.

The price of ChainX has decreased by 1.29% in the last hour and decreased by 5.29% in the past 24 hours. ChainX’s price has also fallen by 11.25% in the past week. The current price is A$0.29 per PCX with a 24-hour trading volume of A$129.32K. Currently, ChainX is valued at 99.03% below its all time high of A$30.22. This all-time high was the highest price paid for ChainX since its launch.

The current circulating supply of ChainX is 12,505,374.7 PCX which means that ChainX has as total market cap of 12,505,374.7.

FAQ

What is the current price of ChainX?

We update our ChainX to AUD currency in real-time. Get the live price of ChainX on Coinbase.

What is the market cap of ChainX?

The current market cap of ChainX is A$3.67M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of ChainX?

The all-time high of ChainX is A$30.22. This all-time high is highest price paid for ChainX since it was launched.

What is the 24 hour trading volume of ChainX?

Over the last 24 hours, the trading volume of ChainX is A$129.32K.

What other assets are similar to ChainX?

Assets that have a similar market cap to ChainX include Lithium, Stobox Token, Cipher, and many others. To see a full list, see our comparable market cap assets.

How many ChainX are there?

The current circulating supply of ChainX is 13 million.

Can I buy ChainX on Coinbase?

No, ChainX is not currently available on Coinbase, but you can sign up to get the latest news on ChainX and be notified when it gets added to our exchange.