Xai

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Discover Xai's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Xai?

XAI is a cryptocurrency that operates on the Arbitrum platform, leveraging a unique tri-layer architecture that combines Ethereum's security, Arbitrum's scalability, and its own Layer 3 innovations focused on gaming. The XAI token serves multiple purposes, including facilitating transactions, rewards, governance, and ecosystem stability. It aims to enhance the gaming experience by enabling players to own and trade in-game assets, and its AI-powered tools assist in detecting token scams and generating unique digital assets as NFTs.

How is Xai used?

Xai (XAI) is a token used for various purposes, including decentralized finance (DeFi) and gaming. In the context of gaming, XAI is the primary token of the Xai blockchain, acting as the gas fee token on the Xai Layer-3. It plays a pivotal role in ensuring the smooth operation of the blockchain, facilitating transactions and rewards within the network, and contributing to governance and ecosystem stability. Additionally, XAI is used in explainable AI (XAI) to enhance decision-making accuracy in crypto trading arbitrage bots by providing transparency and interpretability to the bot's decision-making process.

How do I store Xai?

To store Xai (XAI) tokens securely, you have several options:

Store Xai in Your KuCoin Account

You can hold your Xai (XAI) in your KuCoin account, which provides quick access to trading products like spot and futures trading, staking, and lending. KuCoin serves as the custodian of your crypto assets, helping you avoid the hassle of securing your private keys. Make sure to set up a strong password and upgrade your security settings to prevent malicious actors from accessing your funds.

Hold Your Xai in Non-Custodial Wallets

For enhanced security, you can withdraw your Xai (XAI) to a non-custodial wallet. This grants you complete control over your private keys. You can use various types of wallets, including hardware wallets, Web3 wallets, or paper wallets. Be sure to store your private keys in a secure location, as losing them may result in the permanent loss of your Xai (XAI).

Use Hardware Wallets

Hardware wallets, like Ledger, are highly secure and allow you to store your crypto keys offline. Each hardware wallet comes with a seed phrase, which acts as a key to unlock the wallet. It is recommended to store the seed phrase in a physical form, such as metal seed phrase storage solutions, for added security.

Choose a Reliable Crypto Wallet

You can also store your Xai (XAI) in a reliable crypto wallet like Coinbase Wallet, MetaMask, or TrustWallet. These wallets can be downloaded as extensions on Google Chrome or as apps from the iOS App Store or Google Play. Research the types of wallets most suitable for your trading preferences, considering factors like security and convenience.

How to buy Xai?

To buy Xai (XAI) tokens, follow these steps:

  1. Choose a Cryptocurrency Exchange: Select a reliable exchange that supports XAI trading, such as MEXC, Binance, KuCoin, CoinEx, Bybit, or gate.io. Each exchange has its own fees, security features, and supported currencies, so research and compare them before making a decision.

  2. Create an Account: Register a free account on the chosen exchange's website or mobile app. You will need to provide personal information, including your name and email address. Some exchanges require KYC (Know Your Customer) verification to increase withdrawal limits and unlock additional features.

  3. Fund Your Account: Deposit funds into your exchange account using methods such as credit cards, bank transfers, or other cryptocurrencies like USDT, BTC, or ETH. Ensure the exchange supports your preferred payment method.

  1. Buy XAI: Navigate to the XAI trading page on the exchange and select the desired trading pair (e.g., XAI/USDT). Enter the amount you want to purchase and confirm the transaction. You can also use peer-to-peer services or third-party payment providers like Simplex, Banxa, or Mercuryo.

  2. Store Your XAI: Once you have purchased XAI, you can store it in your exchange wallet or transfer it to a personal wallet for added security. You can also trade XAI for other cryptocurrencies or use it for staking on the exchange.

  3. Monitor Your Investment: Keep track of your XAI investment's performance and adjust your strategy as needed. You can use the exchange's tools or external resources to stay updated on market trends and prices.

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History of Xai

The history of Xai (XAI) is marked by significant milestones, particularly in 2024. Xai is a decentralized platform built on top of Arbitrum, a layer-2 scaling solution for Ethereum, aiming to bridge traditional gaming with the Web3 space. This allows gamers to own and trade in-game items without the need for complex crypto wallets.

Initial Launch and Listing

Xai was officially listed on Binance on January 9, 2024, with various trading pairs including XAI/BTC, XAI/USDT, and others. This listing marked a significant milestone for Xai, positioning it for increased visibility and adoption within the crypto and gaming communities.

Launchpool and Token Distribution

Prior to its listing, Xai was part of Binance Launchpool, where users could stake BNB, FDUSD, and TUSD to farm XAI tokens over a four-day period starting from January 5, 2024. This allowed users to earn XAI tokens, which are essential for various functions within the network, including gas fees, governance, and rewards.

Token Supply and Circulation

Xai has a maximum token supply of 2,500,000,000 XAI. At its initial listing, the circulating supply was 277,118,150 XAI, which is approximately 11.08% of the total token supply. The Launchpool token rewards consisted of 75,000,000 XAI, or 3% of the total token supply.

Gaming Ecosystem

Xai is not just a blockchain but also a platform for various games that incorporate blockchain technology. Notable titles under Xai’s umbrella include Final Form, LAMOverse, and Carnivale, which offer unique gaming experiences.

Price Performance

Xai’s price has fluctuated since its listing. It reached an all-time high of $1.60 on March 11, 2024, and an all-time low of $0.4531 on January 10, 2024.

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How Xai works

Xai (XAI) is a cryptocurrency designed specifically for the gaming industry. It leverages Arbitrum Technology to provide a seamless and user-friendly experience for traditional gamers. Here are the key aspects of how Xai works:

Blockchain and Gaming

Xai's blockchain is tailored for AAA gaming, focusing on simplicity and user experience. It eliminates the complexities of wallet management, making blockchain integration an unnoticed part of the gaming ecosystem. This allows billions of traditional gamers to own and trade valuable in-game items quickly and easily.

AnyTrust Protocol

The AnyTrust protocol, a variant of Arbitrum Nitro technology, manages data availability with a permissioned set of parties. This approach reduces costs while ensuring robust data availability and security. It tackles issues such as gas fees, unstable blockchains, and complex game design on blockchain.

Sentry Nodes

Sentry Nodes are crucial for maintaining the integrity of the Xai network. These observation nodes monitor the Xai rollup protocol, raising alarms if an incorrect block is proposed. They operate on laptops, desktops, or cloud instances and contribute to network security. Sentry Node operators receive rewards in esXAI tokens through a probabilistic algorithm.

Tokenomics

XAI is the primary token of the Xai blockchain, acting as the gas fee token on the Xai Layer-3. It is fully transferable and plays a pivotal role in ensuring the smooth operation of the blockchain. esXAI tokens are non-transferable and are staked by Sentry Node operators, providing benefits such as increased rewards, access to special events and NFTs, and governance rights within the network.

Redemption Process

The redemption process between XAI and esXAI is flexible. Users can redeem XAI for esXAI at any time without penalty, while the reverse process involves an unlock period with varying conversion ratios.

Explainable AI (XAI) in Trading

In the context of crypto trading, XAI (Explainable AI) is a set of techniques that make automated AI trading bot systems more transparent and trustworthy. It helps users understand how the bot makes decisions and executes trades, enhancing trust and accuracy in the decision-making process.

Overall, Xai's innovative approach to blockchain gaming and its integration with Explainable AI in trading make it a unique and promising project in the cryptocurrency space.

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Xai's strengths

The token Xai (XAI) has several strengths that make it a promising investment opportunity:

  1. Gaming Focus: XAI is specifically designed for AAA gaming, addressing the challenges prevalent in blockchain gaming. It offers a seamless integration of blockchain elements into games, enhancing the gaming experience and providing solutions not available in traditional Layer 1 and Layer 2 blockchains.

  2. Layer 3 Blockchain: XAI operates as a Layer 3 blockchain, leveraging the security of Ethereum (Layer 1) and the scalability of Arbitrum (Layer 2). This unique tri-layer architecture ensures efficiency, security, and scalability, optimized for gaming needs.

  3. Tokenomics: The XAI token serves multiple purposes, including facilitating transactions, rewards, governance, and ecosystem stability. It incentivizes participation and contribution within the network, particularly for those operating nodes or participating in governance.

  1. Sentry Nodes: The XAI network employs Sentry Nodes, which are crucial for maintaining the network's stability and integrity. These nodes monitor the Xai rollup protocol, raising alarms if an incorrect block is proposed, and contribute to network security.

  2. Governance and Community Engagement: XAI token holders have the right to participate in governance and voting, giving them a voice in how the network evolves and operates. This encourages a more engaged and active community.

  3. Staking and Rewards: Users can stake XAI tokens to support the network's operation and receive rewards, providing an additional incentive for participation.

  1. Wide Availability: XAI tokens can be traded on various exchanges, including Binance, Bybit, BingX, Bitrue, and Bitget, ensuring accessibility for investors.

These strengths position XAI as a pioneering project in the layer 3 space, particularly in the gaming sector, offering a comprehensive suite of features and functionalities.

Xai's risks

XAI (Explainable AI) in the financial sector faces several challenges and risks. Key concerns include:

  1. Model Complexity and Interpretability: XAI techniques are often limited in their ability to fully explain complex AI models, particularly those involving deep learning and neural networks. This can lead to difficulties in understanding the decision-making processes behind AI-driven financial decisions.

  2. Competitive Risks: Financial institutions may be hesitant to adopt XAI due to concerns that it could allow competitors to reverse-engineer their proprietary algorithms, thereby compromising their competitive advantage.

  3. Security Risks: XAI could potentially make it easier for outsiders to manipulate or launch adversarial attacks on AI models, which could lead to significant financial losses and reputational damage.

  1. Regulatory Compliance: Financial institutions must balance the need for explainability with the need to protect proprietary information. Regulatory agencies are pushing for greater transparency, but full disclosure of algorithms may not be feasible due to competitive and intellectual property concerns.

  2. Talent Acquisition and Training: The scarcity of XAI specialists and the need to train teams to work with AI models can be a significant obstacle for financial institutions looking to implement XAI effectively.

  3. Data Quality and Integrity: Ensuring the quality and integrity of input data is crucial for maintaining the reliability and trustworthiness of AI models. Poor data quality can lead to biased or inaccurate decisions, which can have significant financial implications.

  1. Algorithmic Discrimination: XAI can help mitigate the risk of algorithmic discrimination by ensuring that AI models are fair and unbiased. However, the lack of explainability can make it difficult to identify and address such biases.

  2. Reputation and Trust: The lack of transparency and explainability in AI models can lead to a loss of trust among customers and regulators, which can negatively impact a financial institution's reputation and bottom line.

These risks highlight the importance of carefully implementing and managing XAI in financial institutions to ensure that the benefits of AI are realized while minimizing potential drawbacks.

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Did Xai raise funds?

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Xai’s team

Here are the key team members behind the crypto Xai (XAI):

  • Tobias Batton: CEO, Ex Populus
  • Soby @SobyLife: Head of Strategy, Ex Populus
  • Mark C. Harris: Chief Creative, Ex Populus

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The fundamental analysis assistant for crypto value investors.

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