Burnt launches the XION testnet and declares a strategic investment from Circle Ventures
In order to promote wider market acceptance, Burnt, a Web3 foundry, has announced the public launch of its testnet for XION, the first layer-1 blockchain to employ USDC as its main transactional currency.
The company has also announced an earlier strategic investment from Circle Ventures, the venture capital division of Circle, a major player in the global financial technology industry recognized for issuing USDC. With a major focus on changing the digital asset ecosystem by putting an emphasis on real-world use cases, such as private and public communities, membership programs, loyalty programs, and gaming, XION is a Layer-1 blockchain network.
The unique feature of XION is that it will be the first blockchain to use USDC as its main transactional currency. USDC is a digital dollar that is fully backed by reserves.
In order to demonstrate its technical prowess, XION has so far onboarded more than 200,000 active on-chain wallets, produced more than two million blocks, and painlessly handled more than one million on-chain transactions. A strong network of more than 75 partners provides XION with valuable features and guarantees a positive user experience.
Users of CHRGE can buy assets using their credit cards because Checkout.com, a well-known international payment service provider, is on board. Exodvs functions as an on-chain membership portal for XION platform projects, promoting the growth of the community. Osmosis enhances XION’s ground-breaking implementation of the Fee Abstraction module by enhancing the user experience with cutting-edge capabilities.
The Comet BFT consensus architecture, the IBC inter-chain communication protocol, and the Cosmos SDK developer toolkit are the foundations upon which XION is built. This reliable infrastructure safeguards over $50 billion in assets and manages millions of transactions. It has undergone extensive testing in real-world circumstances. Numerous well-known projects in the sector, like Binance Chain (BNB), Crypto.com (CRO), Injective (INJ), and DyDx (DYDX), favor it.
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