Xai, a revolutionary blockchain project built on Arbitrum Nitro and Anytrust technology, has surpassed 60 million transactions. The chain processes more than 3 million transactions per day, about three times the daily transaction volume of Ethereum. So, what factors have contributed to Xai's extraordinary growth and enabled it to scale so quickly?
Back in 1996, Bill Gates envisioned a future in which the most valuable Internet asset would be content, including movies, games, and user-generated content on social media platforms, in an article titled “Content is King.” Gates realized that “Technology is King” was not an accurate prediction. His foresight has proven to be correct.
Today, there are billions of gamers around the world, and even more people who enjoy movies, TV shows, and social content. Imagine if platforms like Steam, Netflix, or TikTok didn't have games, movies, or videos, then what would these technologies be worth? They would become worthless.
According to Metcalfe's Law and Reed's Law, audience participation is the direct source of content value, and this participation is the driving force of contemporary network value.
“Metcalfe’s Law states that the financial value or influence of a telecommunications network is proportional to the square of the number of users connected to the system.”
Now, imagine a new encrypted industry network that enables seamless access to content. The network removes these barriers for users by handling the process of connecting wallets or paying transaction fees (GAS) on the backend. Among traditional games, large games like Fortnite have more than 400 million players. Imagine a game like this on a blockchain - one such game could almost double the number of existing wallets on Ethereum. Given Metcalfe's Law, this could significantly drive value across the industry.
The Xai testnet serves as an early test, proving that removing wallets and fees (Gas) can elevate the use and value of decentralized networks to unprecedented levels, especially when the purpose of the network is content delivery. Unlike the financial institutions that DeFi and TradeFi seek to emulate, content and entertainment networks focus on usage, audience, reach, engagement and audience metrics rather than deposit value or TVL. Xai successfully solved the complex process of wallets and fees (Gas) to achieve some of the most significant numbers in testnet history, which was demonstrated through the simple test game Web3 Warriors.
Now, imagine the potential numbers that could be generated when AAA games like Final Form and LAMO are fully launched on the Xai mainnet. Expect a surge in traffic (and value)!
If we compare the scale of adoption of the Xai testnet to the scale of adoption of gaming networks in past cycles, a compelling narrative emerges. Consider ImmutableX, which has been hailed as one of the most promising and valuable gaming networks in the crypto industry. How does its situation compare to Xai?
Since the launch of the Xai testnet at the end of August last year, more than 300,000 wallets have been connected, more than double the adoption in the entire history of ImmutableX. TX averages 3 million+ per day, and ImmutableX has never exceeded 100,000 in its entire history.
So, does more need to be said about Xai's future?
If you are interested in the Xai project and want to find more information, you can refer to the following creations I made in the square (all based on official searchable information):
Xai is built for the new generation of Web3 games, aiming to achieve real economy and free transactions within the game. With Xai, numerous players can buy and sell valuable digital assets in their favorite games without having to worry about complicated digital wallets. Anyone who participates and supports the Xai network will have the opportunity to receive rewards and participate in governance. In addition, Xai is carefully built by Offchain Labs using Arbitrum technology. In short, Xai allows everyone to trade freely in the game without having to delve into the technical details, and everyone can participate and benefit from it. For details, please refer to this article:
Game public chain Xai: a wealth code that cannot be missed
In October 2023, the Xai project announced Sentry Nodes. Running a Sentry Node will be rewarded with Xai blockchain tokens. The initial price of a Sentry Node is $300, and the price will gradually increase. You can read this article:
Detailed interpretation of the Xai game public chain Sentry node
Talk about the node income of the game public chain Xai
On October 26, 2023, the Xai project announced the token economic model. More than 50% of the tokens belong to the Xai community. You can read this article:
Interpretation of Xai Project’s “Token Economy”
In order to quickly find various consultations about the Xai project in Binance Square, you can refer to this article:
Game public chain Xai: Binance Square database
Finally, I hope that my sharing of the Xai project on Binance Square can give everyone a comprehensive understanding of the Xai project. I always believe that continuous efforts in the blockchain and Web3 industries will definitely realize my dreams. LFG!