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LONDON, May 18, 2021 (GLOBE NEWSWIRE) — Smart DEX Chain is a one-of-a-kind blockchain introduced by the SwapDEX exchange platform to become the underpinning of the SwapDex ecosystem. As the name suggests, this new blockchain is a smart chain, meaning it will be capable of hosting smart-contracts.
There are already several blockchains allowing projects to deploy contracts, including Ethereum, Binance Smart Chain (BSC), Cardano, Polkadot, etc. However, the Smart DEX chain introduces a number of game-changing, more convenient, and reliable options for hosting smart-contracts. This chain is going to be the ultimate competitor against Ethereum and ultimately tower.
Among the best features of this blockchain include; zero gas fees, top speed and scalability, complete decentralization, the SDX coin, and attractive node rewards. This guide will look into this new smart chain to see how crypto investors will benefit from its launch.
Top Speed and Scalability
Unlike most other blockchains in the business today, the Smart DEX Chain will foster top speeds and convenience for the users. The current situation in blockchain is very discouraging, with top blockchains like Ethereum and Bitcoin facing problems like slow transactions and no scalability. It takes minutes, sometimes hours, for these blockchains to process transactions.
The Smart DEX Chain will completely redefine the role and features of blockchains. It is capable of completing 4,000 transactions every second.
Processing up to 4k transactions every second will help ensure there are no waiting times for transactions to complete. The scalability and speed of the Smart DEX Chain will attract many upcoming smart-contract based projects.
Zero Gas Fees on Smart DEX Chain
The current gas charges in the crypto space is a barrier to the development of the industry. Ethereum gas charges have, for instance, in the past year, surged over 1,000 percent, and the values are continually surging. BSC was introduced to provide a cheaper alternative to Ethereum, but having the biggest centralized exchange running a chain for decentralized projects is a contradiction itself.
The new Smart DEX Chain is, however, redefining the game. SwapDex, the first DApp in the Smart DEX Chain ecosystem, will complete many transactions at zero gas fee. It has instituted policies that will ensure this chain will be self-sustainable without depending on the gas fee collection. However, in deploying smart contracts, projects will be charged favorable fees.
Earn Great Rewards when Running Masternodes
Masternodes are systems instituted to help in mining coins. So how can someone run a masternode on the Smart DEX Chain?
Foremost, you must have at least 10,000 SDX coins to be eligible to run a masternode. If you have more coins you can choose to run multiple masternodes and earn more rewards.
Another requirement is a computing device with at least 4 GB RAM. These computing devices include a phone, laptop, virtual private server, and Raspberry Pi.
Persons running masternodes have a chance to earn significant passive rewards. The number of block rewards per minute in the first year will be 220 SDX coins, with masternode owners receiving 51% of the rewards along with 9% going to stakers of the SDX coin and 40% going to the Community Treasury. 220 block rewards per minute is equal to about 9.5 million SDX released monthly.
This blockchain will implement an annual reward halving concept to protect the coin’s value. Therefore after one year, the block rewards per month will reduce to 4.25 million SDX.
A Truly Decentralized Blockchain
There is no major blockchain today which can boast to be decentralized. All blockchains, including BSC, ETH, and Bitcoin are highly centralized since only a small number of people control the platforms and businesses.
Smart DEX Chain is introducing a truly decentralized blockchain network. The community will have control over the entire Smart DEX Chain. Persons holding large sums of coins and running masternodes will have voting shares. For instance, one masternode is one share.
The community will be able to put proposals up for initiatives which strengthen the platform and these will be voted on by those running masternodes. Generally, a proposal will have a set number of SDX coins required and these will be made available from the Community Treasury fund which amounts to over 35% of the total supply of SDX.
The SDX Coin
The SDX coin is the native coin of the Smart DEX Chain, and it will help power all the activities on the blockchain. One of the main functionalities of this new coin is a payment currency for services provided by the Smart DEX Chain.
Initially, the coin was an ERC-20 token, but with migration to the Smart DEX chain, SDX officially became a coin.
Since the coin was trading as an ERC-20 token, all token holders will swap with the coin version once the blockchain launches. The swap will take place automatically at a 1:1 ratio. When the blockchain launches, the starting supply of SDX coin will be 200 million, approximately 90 million of which will be used to settle things with the token holders.
Final Word
After looking into the Smart DEX Chain, it’s clear that this blockchain will redefine the crypto business. For the first time, crypto users will enjoy using a blockchain that does not charge any gas fees. This 0 gas fee policy is a relief for the DeFi and crypto community.
The Smart DEX Chain will also foster top scalability and speed by processing up to 4,000 transactions every second. Running masternodes will bring vast benefits for blockchain users. As the SDX coin gains value, the holders will enjoy making excellent profits from holding the tokens. Finally, SDX will be decentralized, meaning the community has full control over the project.
Media Contact –
Alexander Wayne
SwapDex
support@swapdex.net
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/61403264-b35f-499e-a30f-160313945aee
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