Scaling

What Is the xDai Chain?

The xDai chain is an Ethereum-based sidechain that uses a Proof-of-Stake mechanism. It has been live since late 2018 and uses a stablecoin, xDai, as its native cryptocurrency. As the project’s site puts it, transactions on the xDai chain are “very fast, very inexpensive, and require a single token (xDai).” What is the xDai cryptocurrency? This native cryptocurrency of the xDai chain has a price that’s pegged to the US Dollar, making it a stablecoin similar to USDC, Tether, and… the original…

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How to Get xDai

Since xDai is based on the EVM (Ethereum Virtual Machine), any Ethereum account can also be used on the xDai chain. This means that if you have an Ethereum account, you also have an xDai account and can get started! If you don’t have an Ethereum account or want a new one specifically for xDai, it’s going to be best to get set up with MetaMask because most (if not all) xDai dapps support it, and many other wallet applications don’t have proper consideration built out for networks other than…

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How to Connect an xDai Account to MyCrypto

If you want one place to view and manage all of your xDai accounts at once, you’ll want to get set up with MyCrypto. Visit app.mycrypto.com/add-account Select the wallet you’ll be connecting to MyCrypto. Note: click View Address if you only plan to track an account and not send from it. Select the xDai network from the dropdown. Note: If you’re using MetaMask, you will not see this dropdown and you’ll need to make sure you’ve selected the xDai network within MetaMask before continuing…

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