XPLA is a Layer 1 blockchain based on Tendermint, serving as a hub for digital media content. With the "Explore and Play" concept, the platform encompasses a wide range of digital content and offers advanced infrastructure for blockchain gaming, supported by a sustainable ecosystem.
What is XPLA Chain
XPLA Chain is an open blockchain that thrives on an ecosystem of decentralized applications (dApps) and modern tools for developers. This platform is based on Tendermint, a well-known blockchain engine that utilizes consensus based on Byzantine Fault Tolerance (BFT), ensuring protection against double-spend attacks and tolerance to errors within up to 1/3 of participants. Thanks to integration with IBC and COSMOS SDK, XPLA Chain easily connects with various blockchains, offering convenient opportunities for developers. The use of proof-of-stake consensus, compatibility with Ethereum Virtual Machine (EVM), XPLA Game Developer SDK, and XPLA Vault provide users with a wide range of applications in areas such as:
- decentralized finance;
- Play to Earn games;
- facilitating the transition of users from Web 2.0 to Web 3.0.
XPLA is the native staking token within the XPLA Chain network, used for governance and staking.
Earning Profits with XPLA Chain
Validators are the "miners" of the XPLA Chain network, responsible for its security and accuracy. They manage full nodes, allowing them to verify every transaction in the blockchain.
Validators propose blocks, vote on their validity, and add new blocks to the chain, receiving staking rewards from transaction fees in return. Users can delegate their XPLA to validators in exchange for staking rewards. Validators also play a crucial role in the governance of the XPLA Chain network.
The consensus in the XPLA Chain network is based on the proof-of-stake mechanism, which operates on the Cosmos SDK blockchain and is protected by a verification system known as the Tendermint consensus. The Tendermint consensus process includes the following factors:
- defining a validator that will generate the next block of transactions;
- two-round voting by validators on whether to accept or reject the proposed block;
- signing and adding the accepted block to the chain;
- distribution of transaction fees as staking rewards among validators and delegators.
Validators protect the integrity of the XPLA Chain and ensure the validity of each transaction.
Staking is the process of locking XPLA to a validator in exchange for staking rewards. The XPLA Chain allows only the top 130 validators to participate in consensus. A validator's rank is determined by their stake or the total amount of XPLA locked to them. Validators can accumulate larger stakes from delegators, increasing their chances of being selected to propose new blocks and receiving proportionally larger rewards.
Delegators are users who wish to receive rewards from consensus without running a full node. Anyone staking XPLA is a delegator. Delegators stake their XPLA to a validator, increasing their weight or total stake, and in return, receive a portion of transaction fees as staking rewards.
XPLA exists in three phases:
| Phase | Description |
|---|---|
| Unbonded | Can be traded freely and is not staked by a validator. |
| Bonded | The validator earns rewards for participating in the staking process. |
| Unbonding | The procedure for withdrawing staking from a validator that does not generate revenue takes 21 days. |
The processes of staking, delegating, and unbonding are crucial for the stability and security of the XPLA Chain, and also contribute to democratic governance and community participation in decision-making through voting and proposal mechanisms.