The recent blockbuster news that XUC has been launched in the OKEX fiat currency trading area has really become popular in the currency circle, which brings convenience to investors to quickly trade XUC! At the same time, this good news has also contributed to the market trend of XUC! The XUC index of OKEX-fiat currency trading area-point-to-point trading soared by 187% in 24 hours.
Before logging into the legal currency trading area, the XUC/BTC currency transaction fell at 0.000539 BTC, which was a good news for XUC. It peaked at 0.00078669 BTC, an increase of 45%. Currently, the total 24-hour trading volume of XUC on OKEX currency trading pairs XUC/BTC, XUC/ETH, and XUC/USDT reaches a maximum of 200,000 XUC. As of press time, it was around 140,000 XUC, and the price had stabilized to 0.00074486 BTC, an increase of 37% in 24 hours!
The rising trend of XUC has attracted much attention. Many people are curious. According to the convention, the legal currency trading area of OKEX platform provides mainstream currencies (BTC/LTC/ETH/ETC/BCH/USDT). So who is XUC who was selected as a "new member" of the legal currency trading area? Maybe we can know from the following introduction.
XUC is a token issued by the Exchange Alliance. It has opened currency trading functions on world-renowned exchanges such as HitBTC/OKEX/CEX. The popularity of XUC is mainly due to the exchange alliance project behind it. The Exchange Alliance is the world's first decentralized trading network that does not require credit endorsement. The project itself was born to break through the difficulties in the application of blockchain technology.
Vision and Mission of the Exchange Alliance
Born in 2017, the Exchange Alliance aims to enable users to trade between different exchanges/different digital assets through seamless connections between digital assets, and to solve the current situation of separation between exchanges and users caused by differences in region, legal currency, language, etc. The exchange alliance builds a decentralized exchange trading network that does not require credit endorsement to connect digital asset exchanges around the world and achieve a win-win situation for exchanges, users, and exchange alliances.
Exchange Alliance Technology Model
The exchange alliance opens up and connects digital asset exchanges and proposes the value proposition of a decentralized trading network. The biggest difference between the exchange alliance and Ripple is that the exchange alliance does not require both parties to trust each other when value exchange occurs. This allows any exchange to join the alliance. The exchange alliance does not even require an intermediary such as Ripple to realize value transmission (this method has been proven to be ineffective in practice).
Through the decentralized exchange solution, the exchange alliance can robustly avoid the damage caused by single points of failure, reduce the possibility of many malicious attacks, and at the same time avoid the risks caused by geopolitics. Unlike existing "on-chain" decentralized exchange solutions (such as 0x, ethdelta and altcoin.io), transactions that occur on the exchange alliance are instant, which solves the biggest pain point of all current decentralized trading technology solutions. Current decentralized transactions are not only expensive but also slow (for example, each Bitcoin transaction requires a $5 handling fee and transfer confirmation times are up to 1 hour). Such technology cannot be applied on a large scale. In addition, the exchange alliance supports cross-chain transactions, which means that transactions not only occur on a separate blockchain (the above-mentioned 0x and etherdelta only support digital currency transactions on the Ethereum blockchain).
The core technologies used by the exchange alliance include payment channels, atomic swaps and order book integration. Payment channels are a mechanism introduced by the Lightning Network for instant, off-chain digital asset transactions. In fact, the mutual conversion of two digital assets is achieved through "atomic swaps", which occur directly in the payment channel. In the exchange consortium, payment channels use slightly modified HTLCs. To put it simply, taking the BTC/LTC transaction as an example, real Bitcoin flows from exchange A to exchange B in the Bitcoin payment channel, while real Litecoin flows from exchange B to exchange A in the Litecoin payment channel. HTLCs guarantee the atomicity of asset swaps: either all succeed or the transaction fails. The exchange alliance collects order information through the corresponding payment channels (for example, BTC/LTC transaction orders will only be broadcast in the BTC and LTC payment channels). This method ensures the efficiency and decentralization of the system. The order book should be shared with all alliance members in the network with minimal latency. Each node in the exchange alliance will continuously monitor the trading order books of different digital assets.
To sum up, the exchange alliance will strive to solve the pain points in the development of the blockchain industry through technological innovation. It is not surprising that XUC was selected into the OKEX legal currency trading area! What is more worth mentioning is that XUC has a clear and long-term plan for value discovery: functionally, XUC will serve as a reward mechanism. Rewards are provided to developers of the exchange alliance open source community, service nodes of the exchange alliance network, traders, and exchanges that join the alliance; in terms of value, the current circulation of XUC is 65 million, most of which have a 10-year lock-up period, and most will be destroyed in the future, so XUC is scarce and deflationary.
January is cold and windy, and the currency market is also experiencing ups and downs. Some people cry and some laugh, but the industry continues, and excellent projects and tokens are also emerging. How to find a currency worth sticking to in the hustle and bustle? Users need not only luck, but also wisdom. The essence of investment is to invest in the future, and XUC represents the future era of exchange interconnection. The future is here, are you ready?
