Question 1

What is Xai (XAI)?

Accepted Answer

Xai (XAI) is a cryptocurrency linked to the Xai Blockchain, developed by Offchain Labs and managed by the Xai Foundation. This blockchain is specifically tailored for web3 gaming, addressing the unique needs of this sector on a large scale. It offers features that cater to both traditional gamers and developers, such as an abstracted wallet and account experience for gamers, and increased gas and contract limits for developers. The Xai Blockchain is designed to be fully decentralised, fostering trust and transparency within its ecosystem. It also leverages the robust security measures of Ethereum to enhance its defence against potential cyber threats, including hacks and vulnerabilities.

Question 2

What is Xai (XAI) used for?

Accepted Answer

Xai (XAI) serves as the token of record for the Xai Blockchain, with its utility aligning with that of traditional tokens on popular Layer 1 (L1) and Layer 2 (L2) blockchains. The token is fully transferable, enhancing its versatility and accessibility within the blockchain ecosystem. A key function of Xai tokens is serving as the gas fee token on the Xai Blockchain, which is a Layer 3 (L3) network. This role is crucial as it facilitates transactions on the network by compensating for computational resources. Additionally, Xai tokens are used to reward validator nodes for maintaining network integrity and security. Beyond these functionalities, Xai tokens have a significant role within the gaming ecosystem of the Xai Blockchain. They are accepted as payment for games and in-game items, thereby integrating them into the economic fabric of the gaming world. Furthermore, Xai tokens are redeemable for esXAI, adding another layer of utility to their role within the Xai ecosystem.

Question 3

Who created Xai (XAI)?

Accepted Answer

Xai (XAI) and its associated blockchain technology were created by Offchain Labs, a company specialising in blockchain development, with a focus on enhancing the efficiency and capabilities of decentralised networks. The Xai Blockchain and the development and implementation of the Xai token are overseen by the Xai Foundation, which governs the blockchain and ensures its alignment with the requirements and aspirations of the web3 gaming community.