On Thursday, AXIA, the company behind AXChat’s groundbreaking message-to-earn model, announced the mainnet launch of its blockchain and native currency. The new network is intended to produce a “hyper-deflationary” economic paradigm in which the cryptocurrency gets scarcer as it gains popularity.
The AXIA blockchain, according to its website, is a third-generation blockchain that aims to solve issues such as interoperability, speed, and accessibility.
A participatory “hyper-deflationary” mechanism is used by the AXIA network. This means that all action on the blockchain and inside the ecosystem contributes to the gradual scarcity of AXIA Coin. The existing financial and monetary system, according to an AXIA spokesman, is unproductive, fosters inflation, and worsens economic disparities.
‘Hyper-deflationary’ is designed to give long-term value
According to the AXIA, its economic model differs from that of fiat currencies and other cryptocurrencies in that it provides ongoing value creation with a steadily declining quantity of AXIA Coin.
“hyper-deflationary is designed to give long-term value, as well as protection from speculative instruments and the depreciation that occurs with fiat currencies. The approach is not only long-term viable, but it will also evolve.”
AXIA introduced AXchat, a decentralised messaging tool, two months before the mainnet debut. Users may talk with friends and family while earning digital currency incentives on this blockchain-based chatting app.
All AXChat messages, according to AXIA, are encrypted, and accounts are secured with multi-factor authentication (MFA) for added security. These privacy options are not available on traditional chat services such as Whatsapp or Facebook Messenger. Consumers contribute the value that is routed back into for-profit and centralised interests, according to an AXIA network spokeswoman.
Every project’s mainnet launch is a major milestone. This is because it is at this point that a project moves from being a concept to being a reality. A few blockchain mainnets have been launched this year. RUNE, Mono X, and Bitgert Chain are a few of the most noteworthy.