WEB3
by BSCN
October 6, 2023
The platform has received a strategic investment from Circle Ventures and will become the first network to utilize USDC as transactional currency.
Summary
Burnt, a Web3 foundry, has officially unveiled the public testnet for its Layer-1 blockchain, XION. The announcement also includes a strategic investment from Circle Ventures, the venture capital arm of Circle, and USDC issuer.
Notably, XION will become the first blockchain to use USDC as its primary transactional currency, eliminating a significant technical hurdle, as all XION-based applications will display prices in USDC. Furthermore, XION transactions will be gasless, streamlining the user experience.
XION already boasts over 200,000 active on-chain wallets, more than 2,000,000 produced blocks, and over 1,000,000 seamless on-chain transactions, reaffirming its technical prowess. With a focus on tangible use cases, such as communities, membership, loyalty programs, and games, XION aims to revolutionize the digital assets landscape.
"Our long-term vision for XION is to empower user-friendly applications that harness the power of Web3 without the complexities typically associated with blockchains," stated Burnt Banksy CEO of Burnt.
Burnt also revealed its plan to collect fees generated from USDC, convert them into a native token, and distribute them to validators, combining stablecoin convenience with Proof-of-Stake security.
Latest News
March 18, 2025
KAS Review: Understanding Kaspa's Native Coin
March 18, 2025
Pi Network (PI) vs Ice Blockchain (ICE): Mobile Mining Powerhouses
March 18, 2025
Why is PI Network (PI) Down Today? Price Analysis
March 18, 2025
Sidra Chain Deepdive: Reshaping Shariah-Compliant Finance
March 18, 2025
The Role of Smart Contracts in Building Trustworthy Digital Economies
March 18, 2025
What is Pi Open Network?
March 18, 2025
Cronos Just Reversed a $5.6B Token Burn—Here’s What Happened
March 18, 2025
Offchain Labs & Foundation's New Initiative: What is Onchain Labs?