Xion aims to be a complete and integrated solution for global payment systems based on Cosmos, scalable, secure, commission-free and integrated with the USDC stablecoin.
Burnt, a well-known Web3 foundry that is on a mission to make Web3 more accessible to everyone, has recently announced the public launch of the testnet XION, a Layer 1 blockchain, which has been built for mass consumer adoption.
The XION project is unique in several ways. First, it will use the USDC token, a stablecoin pegged to the dollar, as its primary transactional currency. This will remove one of the biggest obstacles to mainstream adoption: the need to understand and manage volatile cryptocurrencies.
Secondly, all transactions on XION are gasless. This means that users do not need to pay transaction fees, which can be a major barrier to entry for new users. Finally, XION is built on the most reliable and secure infrastructure in the industry. This includes the use of the Comet BFT consensus system, the use of the IBC cross-chain communication protocol, and the Cosmos SDK developer toolkit.
All the information about the launch has been made public on Burnt's Twitter account.
XION, global, fast, secure and cost-free payments
Burnt has already onboarded over 200.000 active on-chain wallets, produced over two million blocks, and processed over 1.000.000 on-chain transactions without any issues. This validates XION’s technical capabilities and shows that there is a strong demand for a user-friendly blockchain platform.
XION is supported by an ecosystem of over seventy-five partners, including global payment services provider Checkout.com, on-chain membership platform Exodvs, and cross-chain liquidity protocol Osmosis. These partners provide users with key functionality and a seamless experience. The launch of XION is a major milestone for Burnt and the Web3 ecosystem as a whole. XION has the potential to revolutionize the way people interact with digital assets and Web3 applications.
On the other hand, Wyatt Lonergan, director of Circle Ventures, who are participating in this development, has commented:
We are proud to support Burnt in their mission to empower developers to build user-friendly experiences that abstract away the complexities typically associated with using Web3. With the beta launch of XION, developers can build purpose-built applications that leverage USDC for mainstream adoption.
This infrastructure reportedly “holds over $50 billion in secure assets, supports millions of transactions, and is trusted by some of the largest projects in the industry including Binance Chain (BNB), Crypto.com (CRO), Injective (INJ), and DyDx (DYDX).”
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