Burnt Launches Public Testnet for Xion Blockchain
Burnt, a Web3 developer, has announced the release of its public testnet for Xion, a Layer-1 blockchain that will utilize the Circle-issued USDC stablecoin as its primary transactional currency. The network will focus on various use cases including payments, social communities, web subscriptions, loyalty programs, and games. Over seventy-five partners will support Xion by providing key functionalities such as onramp services and managing on-chain communities.
User-Friendly Experience with Pricing in USDC
In addition to using USDC for transaction fees, all products built on Xion will display prices in the stablecoin to enhance user-friendliness. Burnt’s CEO, Burnt Banksy, stated that their long-term vision for Xion is to enable user-friendly applications that leverage the power of Web3 without the usual complexities associated with blockchains.
Burnt has raised more than $11 million from investors including Animoca, Circle Ventures, Multicoin, Spartan, HashKey, and others. According to their website, they aim to empower developers to create user-friendly experiences that simplify the usage of Web3 technologies.
Xion Blockchain Technical Details
The Xion blockchain is built on the Comet BFT consensus framework and utilizes the Cosmos SDK developer toolkit. This toolkit has been used in various projects such as the BNB Chain, Injective, Osmosis, and dYdX Chain. While USDC may be used for transaction fees on the network, validators will use a native staking asset to secure the Xion network.
Hot Take: Simplifying Web3 Adoption with Xion
With the launch of Xion’s public testnet and its integration of the USDC stablecoin, Burnt aims to simplify the adoption of Web3 technologies. By providing user-friendly applications and abstracting away complexities, Xion has the potential to drive widespread adoption of blockchain-powered solutions in various industries.
By
By
By
By
By