'Hyper-deflationary' community launches mainnet amid rising inflation

AXIA, the workforce behind the novel message-to-earn method of AXChat, introduced the mainnet launch of its blockchain and native foreign money on Thursday. The brand new community is designed to offer a “hyper-deflationary” financial mannequin wherein the cryptocurrency turns into an increasing number of scarce as its adoption grows. 

Based on its web site, the AXIA blockchain is a third-generation blockchain that makes an attempt to handle issues like the shortage of interoperability, pace and accessibility.

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The AXIA community makes use of a participatory hyper-deflationary system. This means that each one exercise on the blockchain and throughout the ecosystem helps to make sure that AXIA Coin turns into scarce over time. An AXIA consultant advised Cointelegraph that the normal monetary and financial system is ineffective, promotes inflation and exacerbates earnings disparity. 

As per the AXIA, its financial mannequin differs from fiat currencies and different cryptocurrencies in that it options steady worth creation with a repeatedly lowering provide of AXIA Coin.

“This mannequin is constructed to offer long-term worth, safety towards speculative devices and the lack of worth we see with fiat currencies. The mannequin itself just isn’t solely sustainable however will proceed to evolve over time.”

The mainnet launch follows two months after AXIA launched AXchat, a decentralized messaging platform. This blockchain-powered chatting platform permits customers to talk with family and friends whereas incomes digital foreign money rewards.

Associated: Crypto seen because the ‘future of cash’ in inflation-mired nations

AXIA claims that each one AXChat messages are encrypted and that accounts are protected by multi-factor authentication (MFA) for enhanced safety. Conventional messaging platforms like WhatsApp and Fb Messenger should not have these privateness options. AXIA advised Cointelegraph that the worth different messaging functions present is derived from shoppers and funneled again into for-profit and “centralized pursuits.”

A blockchain mainnet launch is a big step for each undertaking as it’s the second when a undertaking transitions from being an concept to actuality. Numerous blockchain mainnets have been launched this yr. A few of the most notable embody RUNE, Mono X and Bitgert Chain.

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