Axe is an open-source network with peer-to-peer cryptocurrency that focuses on the payments industry. The network offers a form of money, which is fast, portable, divisible, and inexpensive in nature and can be used securely both in-person and online against nominal transaction fees. 

Further, according to the whitepaper of the asset, the Axe network is based on the Bitcoin project and aims to be a scalable and user-friendly payment system for the world. In addition, the network also offers private and instant transaction features while operating on a self-funding and self-governing model. This, in turn, allows Axe network to payout businesses and individuals on the platform for the value they add to the network through their work. These payments made to the businesses and individuals for their work are made using AXE coin, which is the cryptocurrency of the Axe network and is denoted by its ticker AXE.

The AXE is a decentralized cryptocurrency based on an X-11 hashing algorithm. The X-11 hashing algorithm is a highly powerful crypto mining algorithm that uses 11 hashing functions to validate a block, in turn making the coin highly secure. Further, the coin reflects a faster transaction speed and has many utilities within the Axe network, they are:

Besides these utilities, AXE coins can be used for making payments against products and services that support cryptocurrency and can be acquired from different exchanges.   

These utilities of AXE coin, along with budgeting system and decentralized governance, have helped maintain a decentralized autonomous organizational structure (DAO) for the network.

The AXE is an experimental cryptocurrency built to facilitate private and instant payment to anybody across the globe. The whitepaper of the asset was released on August 6, 2019. The coin has a total supply of 21,000,000 AXE.