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XCH coin issuance and listing trading platform at a glance

XCH coin, a decentralized storage token, has seen its value fluctuate since its launch and is currently ranked 123rd in market capitalization as of February 2023.

Oct 29, 2024 at 02:09 pm

XCH Coin Issuance and Listing Trading Platform At A Glance

XCH coin is the native token of Chia, a decentralized blockchain network that utilizes a proof-of-space consensus mechanism. The coin was launched in May 2021, and it has since been listed on various cryptocurrency exchanges. In this article, we will take a closer look at the issuance and listing of XCH coin, providing a comprehensive overview of the process and the trading platforms where it is available.

1. Issuance of XCH Coin

XCH coins are mined through a process known as "farming," which involves dedicating storage space to the Chia network. Farmers earn XCH coins as rewards for providing storage space and participating in the consensus mechanism. The issuance of XCH coins is capped at 21 million, with a target block time of 10 minutes.

2. Listing of XCH Coin on Trading Platforms

Following its launch in May 2021, XCH coin was gradually listed on various cryptocurrency exchanges. The first exchange to list XCH was OKX, which enabled trading of the coin against USDT on May 17, 2021. Since then, XCH has been listed on several other major exchanges, including:

a) Binance

b) Huobi

c) Coinbase

d) Kraken

e) Gemini

3. Current Status of XCH Coin

As of February 2023, XCH coin is ranked 123rd in terms of market capitalization, according to CoinGecko. The coin's price has experienced significant fluctuations since its launch, reaching an all-time high of over $2,000 in May 2021 before declining to around $40 in early 2023. Despite the recent price volatility, XCH remains a popular cryptocurrency among investors and traders who are interested in proof-of-space blockchain technology.

Conclusion

The issuance and listing of XCH coin on cryptocurrency exchanges have facilitated its accessibility and trading for investors around the world. The coin's capped issuance and unique proof-of-space consensus mechanism have generated interest among those seeking alternative blockchain technologies to proof-of-work and proof-of-stake. As the Chia network continues to develop, XCH coin is expected to play a vital role in the ecosystem, providing incentives for farmers and supporting the growth of decentralized storage solutions.

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