Oxechain Prototype
Technology Overview
Last updated
Technology Overview
Last updated
Binance Smart Chain (BSC) is a high-performance blockchain built on top of the Binance Chain infrastructure, which allows for the creation of smart contracts and decentralized applications (dApps). BSC uses a proof-of-stake mechanism called Proof-of-Staked-Authority (PoSA) to process transactions quickly and inexpensively, making it an attractive option for developers and users alike.
One of the key benefits of BSC is its compatibility with Ethereum, as both chains support the Ethereum Virtual Machine (EVM) and the BEP20 token standard. This allows for greater flexibility and interoperability between different platforms, making it easier for developers to create cross-chain applications.
OXEChain will leverage the BEP20 token standard to create its utility token, OXE. The BEP20 standard is similar to the ERC20 standard used on the Ethereum network, but with some key differences that make it more efficient and user-friendly.
Using the BEP20 standard will allow the OXE community to use the token on decentralized exchanges (DEXs) where it will be listed, facilitate payment, and eliminate middlemen and double-spending. This will make it easy for users to participate in the OXE ecosystem and benefit from the token's utility.
Smart contracts are self-executing contracts that automatically enforce the terms of an agreement between parties. OXEChain will use smart contracts to automate processes such as staking, game mechanics, and token distribution.
By leveraging smart contracts, OXEChain can create a transparent and secure platform that is resistant to fraud and manipulation. Smart contracts will ensure that all transactions are executed according to predetermined rules, and that all parties are held accountable for their actions.
In addition, OXEChain will use smart contracts to create staking pools, where users can lock up their tokens and earn rewards for helping to secure the network. This will incentivize users to hold and use OXE, while also promoting network security and decentralization.
Overall, OXEChain is using cutting-edge technology to create a robust and user-friendly platform that will revolutionize the way we think about vouchers, referral programs, and cryptocurrency payments.
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