XCN
Reputation Ratings

XCN

Chain 2-5 years
Website https://chain.com/
Browser
OTH RELPs
White Paper
Avg Price
0.00%
1D

$ 0.0020 USD

$ 0.0020 USD

Market Cap

$ 57.855 million USD

$ 57.855m USD

24h trading volume

$ 14.859 million USD

$ 14.859m USD

7d Vol

$ 47.865 million USD

$ 47.865m USD

Circulating supply

27.9036 billion XCN

Related information

Issue Time

2022-03-16

Platform pertained to

--

Current price

$0.0020USD

Market Cap

$57.855mUSD

Volume of Transaction

24h

$14.859mUSD

Circulating supply

27.9036bXCN

Volume of Transaction

7d

$47.865mUSD

Change

24h

0.00%

Number of Markets

84

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Historical Price

Introduction

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3H

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1M

-1.39%

1Y

+4%

All

-96%

Aspect Information
Short Name XCN
Full Name Chain
Founded Year 2014
Support Exchanges KuCoin, CoinEx, Kraken, Gate.io, MEXC, Bibox, Bitget, Bithumb, Bitrue, Cofinex, etc.
Storage Wallet Exchange Wallets, Software Wallets, Hardware Wallets
Customer Support Email at hello@chain.com

Overview of Chain(XCN)

Chain (XCN) is a blockchain technology company focused on building a more connected and intelligent economy. Founded in 2014, is a blockchain platform that simplifies interaction with various cryptocurrencies and NFTs. After an acquisition by Stellar in 2018, Chain became independent again in 2020 and continues to develop a more connected financial system. Their platform supports earning, trading, investing, and spending digital assets, making it a comprehensive solution for cryptocurrency enthusiasts.

To obtain more information, you can visit their website: https://www.chain.com/and try to log in or register to use more services.

Pros and Cons

Pros Cons
Operates on a platform designed for smart contracts Complexity of ChainScript may deter non-technical users
Allows peer-to-peer transactions Dependence on network participants for transaction validation
Use of blockchain technology for transparency Subject to potential blockchain scalability issues
Advanced cryptographic techniques for security Cryptocurrency volatility may impact value
Potential for automation and reducing human intervention Real-world integration of blockchain technology still under exploration

Pros of Chain(XCN):

1. Smart Contract Platform: Chain(XCN) operates on a platform primarily designed for managing smart contracts. This essentially allows users to transact directly with each other using contracts written in ChainScript, which automatically execute the agreed terms, enhancing the efficiency of business processes.

2. Peer-to-Peer Transactions: Chain(XCN) facilitates peer-to-peer transactions, eliminating the need for intermediaries like banks or payment processors. This leads to lower transaction fees and faster execution times.

3. Blockchain Transparency: By leveraging blockchain technology, Chain(XCN) ensures transparency in its system. Every transaction is chronologically recorded and publicly viewable, which fosters trust among the users.

4. Advanced Security: Chain(XCN) incorporates sophisticated cryptographic techniques to safeguard transactions. This high level of security minimizes the risks of fraud and unauthorized access.

5. Automation Potential: Chain(XCN) underscores the potential of integrating physical industries with blockchain technology to automate several business processes, thereby reducing the necessity for human intervention.

Cons of Chain(XCN):

1. Complexity of ChainScript: Although the platform encourages the use of smart contracts, the complexity of ChainScript, the proprietary language used for writing these contracts, could pose a challenge for non-technical users.

2. Dependence on the Network: The functionality of Chain(XCN) depends on its network participants for validating transactions. If there aren't enough active participants, the speed and efficiency of transactions could potentially be affected.

3. Scalability Issues: As with other blockchain technologies, Chain(XCN) may be subject to scalability issues. As the number of transactions increases, the platform must be able to handle the increased load while maintaining transaction speed and efficiency.

4. Cryptocurrency Volatility: Volatility is a common trait in cryptocurrencies, and Chain(XCN) is no exception. The value of Chain(XCN) can fluctuate wildly, leading to potential losses for users.

5. Integration Challenges: While Chain(XCN) explores the potential integration of blockchain technology in real-world industries, implementing this on a large scale remains a challenge. Concerns around regulation, adoption, and technological personnel capacities might slow down progress.

Crypto Wallet

Chain Wallet is a non-custodial wallet, meaning you hold the private keys to your own funds. This emphasizes security and user control over your digital assets. The wallet supports buying, selling, and managing over 100 cryptocurrencies and NFTs. It allows you to track market prices and manage your entire digital asset portfolio in one place. This makes it a comprehensive platform for cryptocurrency users who want to buy, sell, hold, and track a wide range of digital assets.

What Makes Chain(XCN) Unique?

Chain(XCN) presents several innovative aspects in its design and operation, distinguishing it from other cryptocurrencies.

Primarily, Chain(XCN) is designed as a platform for managing, transcribing, and interacting with smart contracts. In this regard, it deviates from currencies focused solely on token exchange, opting for an expanded utilization scope. The reliance on its proprietary language, ChainScript, specifically constructed for these contracts, is particularly unique.

Furthermore, Chain(XCN) aims to bridge the divide between blockchain technology and physical industries. Their goal is to leverage blockchain's decentralization and transparency for a potentially broad range of industrial applications, unlocking automation possibilities and reducing the need for human intervention. This physical-digital integration ambition sets Chain(XCN) apart.

Finally, Chain(XCN)'s focus on transparency is noteworthy. Using the blockchain's immutable and chronologically organized record-keeping capacity, every transaction on the Chain(XCN) platform is publicly accessible, contributing to their transparency objectives. This broad-scale visibility may not be as emphasized in some other cryptocurrencies.

How Does Chain(XCN) Work?

Chain(XCN) is a blockchain platform built for automating transactions and interactions. It uses smart contracts, written in their own language ChainScript, to define agreements that execute automatically when pre-set conditions are met. This removes the need for central authority, making transactions faster, cheaper, and more secure.

Chain(XCN) relies on a public blockchain to record all transactions. This creates a transparent and tamper-proof record of everything that happens on the platform. Additionally, Chain(XCN) aims to bridge the gap between traditional industries and blockchain technology, potentially streamlining processes and increasing efficiency across various sectors.

Market & Price

As of March 8, 2023, the price of Chain (XCN) stands at $0.0027. At this time, there are no ongoing coin airdrops for Chain (XCN), indicating that there are no new tokens being distributed to existing holders or new users.

The circulating supply of Chain (XCN) is reported to be 27,126,068,814 XCN. This figure represents the total number of Chain (XCN) tokens available for trading and investment activities within the cryptocurrency market. Investors and enthusiasts monitoring Chain (XCN) should consider these details when analyzing its market dynamics and making investment decisions.

Market & Price

Exchanges to Buy Chain(XCN)

Onyxcoin (XCN) is available for trading on several cryptocurrency exchanges. Here's a breakdown of some popular options, including the currency and token pairs they support:

1. KuCoin: A global exchange known for its wide variety of cryptocurrencies. It offers XCN trading pairs with major cryptocurrencies like Bitcoin (XCN/BTC), Ethereum (XCN/ETH), and Tether (XCN/USDT).

See this link for details on how to buy XCN: https://www.gate.io/how-to-buy/onyxcoin-xcn

  • Log in to your Gate.io account.

  • Fund your account with a supported currency. If you already hold the desired currency in another wallet or exchange, transfer it to your Gate.io account. Alternatively, Gate.io might offer options to directly purchase these currencies using a debit/credit card or other payment methods (limited based on location).

  • Navigate to the XCN market. You can search for “XCN” on Gate.io to find the trading pairs available (e.g., XCN/USDT, XCN/BTC).

  • Choose a trading option. Gate.io might offer different trading options like spot trading or margin trading. Select the option that suits your needs and risk tolerance.

  • Place a buy order. Specify the amount of XCN you want to purchase and the price you're willing to pay. You can choose from various order types, like market orders (instant execution at current market price) or limit orders (purchase at a specific price or better).

  • Review and confirm your order. Double-check the details of your order (amount, price, fees) before confirming the purchase.

  • Your XCN will be credited to your account. Once your order is filled, the purchased XCN will be deposited into your Gate.io wallet.

  • Exchanges to Buy Chain(XCN)

    2. CoinEx: Another popular exchange with a user-friendly interface. You can trade XCN with Bitcoin (XCN/BTC), Ethereum (XCN/ETH), and USD Coin (XCN/USDC).

    3. Kraken: A reputable exchange known for its security and reliability. Kraken supports XCN trading with Bitcoin (XCN/BTC), Tether (XCN/USDT), and USD Coin (XCN/USDC).

    4. Gate.io: A global exchange offering a wide range of features and functionalities. Gate.io lets you trade XCN with Bitcoin (XCN/BTC), Ethereum (XCN/ETH), USD Coin (XCN/USDC), and Binance Coin (XCN/BNB).

    5. MEXC: A growing exchange with a focus on innovation. MEXC provides XCN trading pairs with Bitcoin (XCN/BTC), Tether (XCN/USDT), and USD Coin (XCN/USDC).

    6. Bibox: A veteran exchange popular in Asia. Bibox offers XCN trading with Bitcoin (XCN/BTC), Ethereum (XCN/ETH), and Tether (XCN/USDT).

    7. Bitget: A rising exchange known for its competitive fees. Bitget supports XCN trading with Bitcoin (XCN/BTC), Tether (XCN/USDT), and USD Coin (XCN/USDC).

    8. Bithumb: A leading Korean exchange with a strong user base in Asia. Bithumb offers XCN trading with the Korean Won (XCN/KRW) alongside Bitcoin (XCN/BTC) and Tether (XCN/USDT).

    9. Bitrue: An exchange focusing on margin trading and derivatives. Bitrue allows XCN trading with Bitcoin (XCN/BTC), Tether (XCN/USDT), and USD Coin (XCN/USDC).

    10. Cofinex: A smaller exchange offering various crypto assets. Cofinex supports XCN trading with Bitcoin (XCN/BTC), Ethereum (XCN/ETH), and Tether (XCN/USDT).

    How to Store Chain(XCN)?

    Several wallets support storing and managing XCN. These wallets typically won't allow you to directly purchase XCN with fiat currency. However, you can transfer XCN to these wallets from exchanges that support buying XCN. Here are some popular options:

    • Exchange Wallets: Many cryptocurrency exchanges provide built-in wallets for storing the digital assets you trade on their platform. If you purchase XCN on an exchange like Gate.io, CoinEx, or Kraken, you can store them securely in the exchange's wallet.

    • Software Wallets: These are downloadable applications you install on your computer or mobile device. Popular options include MetaMask, Trust Wallet, Atomic Wallet, and more (depending on whether they support XCN). You can transfer your XCN from an exchange or another wallet to these software wallets for safekeeping.

    • Hardware Wallets: These are physical devices resembling USB drives that offer the most secure storage for your cryptocurrencies. Ledger and Trezor are well-known hardware wallet brands that might support XCN (always double-check compatibility before purchasing

    Is It Safe?

    The safety of XCN itself is dependent on two main factors: the security of the Chain network and how you store your XCN.

    Chain Network Security

    Chain utilizes a public blockchain, which inherently benefits from strong cryptographic techniques and immutability of recorded transactions. This makes it difficult to tamper with XCN on the network itself.

    Wallet Security

    How secure your XCN ultimately is depends on where you store it. Non-custodial wallets like Chain Wallet give you control over your private keys, but this also means you are responsible for their security. If someone gains access to your private key or seed phrase, they can steal your XCN. On the other hand, exchange wallets offer more convenience but may be less secure as you don't directly control the private keys.

    For maximum security, it's recommended to choose a reputable wallet with strong security features and practices, and prioritize keeping your private key or seed phrase confidential.

    How to Earn Chain(XCN)?

    Obtaining Chain(XCN) would typically involve one of several avenues, like mining, purchasing it on a supporting exchange, partaking in its network activities, or possibly receiving it as a form of payment. However, the exact methods of obtaining Chain(XCN) have not been stated in our given information. Still, potential participants should consider the general coin-earning advice below:

    1. Mining: If Chain(XCN) could be mined, it might offer one way to earn this currency. Mining is a process where transactions are verified and added to the blockchain ledger. It usually requires a high-power computer setup and could be time and energy-consuming.

    2. Cryptocurrency Exchanges: You can purchase Chain(XCN) directly from supporting exchanges using either fiat currencies or other cryptocurrencies, depending on what pairs the exchanges offer. Always use reputable and secure exchanges when buying cryptocurrencies.

    3. Staking or Network Participation: Some coins offer incentives for holding a certain amount of the currency to help secure the network or partaking in network activities. It isn't clear if this is part of Chain(XCN)'s model.

    4. Payment for products or services: If you have a business, consider accepting Chain(XCN) as a form of payment. This can help you accumulate this crypto while also potentially attracting a larger customer base.

    For anyone who wants to buy or earn Chain(XCN), they should adhere to these general guidelines:

    - Do Your Research: Before you start, thoroughly research Chain(XCN) and the crypto market. Understanding how it operates, its pros, cons, the technology behind it, and its future outlook are essential.

    - Start Small: If you're new to cryptocurrencies, start with a small amount that you are ready to lose. Over time, as you gain understanding and confidence, you can gradually invest more.

    - Diversify: Don't put all your eggs in one basket. Consider purchasing different cryptocurrencies to spread your risk.

    - Protect Your Investment: Make sure you use secure wallets to store your Chain(XCN). Depending on the amount, you may want to use hardware wallets for better security.

    - Keep Up with News: The crypto market is dynamic and can be influenced by technological and regulatory news. Regularly following the latest developments can help you make informed decisions.

    Remember, crypto investments can be risky, and it's crucial to only invest what you can afford to lose.

    Conclusion

    Chain(XCN) is a unique cryptocurrency designed for smart contract management and interaction via its platform, utilizing ChainScript, a proprietary language. It aims to integrate blockchain technology into physical industries, emphasizing automation and reducing human intervention. All transactions are publicly recorded on the blockchain for transparency and security.

    Chain(XCN) has promising development prospects due to its focus on smart contracts, peer-to-peer transactions, and industry integration. However, its investment potential is uncertain and depends on factors such as demand, regulatory changes, and market performance. Thorough research is advised before investing in Chain(XCN).

    FAQs

    Q: What functionality does Chain(XCN) primarily serve?

    A: Chain(XCN) principally functions as a platform for creating, managing, and transacting with blockchain-based smart contracts.

    Q: Can you explain more about ChainScript?

    A: ChainScript is Chain(XCN)'s proprietary coding language, used for scripting autonomous smart contracts on the platform.

    Q: What sets Chain(XCN) apart in the realm of cryptocurrencies?

    A: Chain(XCN) differentiates itself by aiming to integrate physical industries with blockchain technology, focusing on automation and reducing human intervention in transactions.

    Q: How does Chain(XCN) ensure security and transparency in its system?

    A: Chain(XCN) uses blockchain technology for recording transactions and includes advanced cryptographic techniques to secure these transactions, improving transparency and security.

    Q: Is Chain(XCN) a decentralized platform?

    A: Yes, Chain(XCN) operates on a decentralized system, enabling peer-to-peer transactions and eliminating the need for trusted intermediaries.

    Risk Warning

    Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

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