1 month ago
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Key takeaways
- CrossFi launches an EVM-compatible Layer 1 mainnet, optimized for decentralized crypto payments.
- The network supports over 10,000 transactions per second, ideal for high-volume applications.
- CrossFi’s PCI DSS certification ensures top-tier data security for global payment processing.
CrossFi introduces scalable blockchain for decentralized payments
CrossFi has officially launched its EVM-compatible mainnet, marking a significant milestone in the evolution of decentralized payment solutions. Designed as a Layer 1 network, the CrossFi blockchain will power a broad ecosystem of web3 payments, enabling businesses to streamline transaction processing through a secure and scalable framework.
The launch follows an extensive testnet phase, during which over one million active wallets were created through partnerships with CoinList and leading validators like Alchemy. The mainnet is now live, allowing businesses to harness its capabilities to process payments for a range of use cases, from e-commerce to decentralized finance.
CrossFi’s blockchain is built using the Cosmos SDK and Tendermint consensus, giving it modular architecture and EVM compatibility. This enables seamless bridging of Ethereum-native assets to the CrossFi ecosystem. Additionally, the network is designed to support up to 10,000 transactions per second, ensuring smooth operation even for high-volume payment applications.
Secure, scalable, and decentralized
One of CrossFi’s standout features is its PCI DSS certification, the industry standard for secure data transmission used by major payment card networks. This certification underscores CrossFi’s commitment to offering a secure payment layer capable of bridging traditional finance and the crypto space.
Governance on the CrossFi network is powered by the Mint Power (MPX) token, which facilitates transaction fees and plays a key role in network maintenance. Transaction fees on CrossFi are projected to remain low, averaging around $0.02 per transaction.
An expansive ecosystem for web3 finance
CrossFi’s mainnet is the foundation for a larger decentralized ecosystem comprising six core products. The CrossFi Chain, at the base layer, provides infrastructure for interoperable financial services such as staking, lending, and crypto-fiat exchanges. It also supports the minting of stablecoins and synthetic assets.
Additional products in the ecosystem include CrossFi App, offering access to decentralized finance (DeFi) tools like P2P payments and virtual debit cards, and CrossFi xAPP, a DeFi platform for token swaps, liquidity mining, and cross-chain asset bridging. The ecosystem also features XAssets for decentralized asset trading and XStake, a platform designed to maximize returns on staked assets.
About CrossFi
CrossFi is a blockchain-based ecosystem focused on revolutionizing global payment systems. Built on a combination of Cosmos and EVM technology, CrossFi provides a secure, decentralized infrastructure for web3 payments, delivering high transaction throughput while maintaining the security standards of traditional finance.
Conclusion
With its mainnet launch, CrossFi will redefine how payments are processed in the web3 world. Offering security, scalability, and seamless integration with existing crypto infrastructures, the platform is set to bridge the gap between decentralized and traditional financial systems. Businesses and developers now have access to a robust Layer 1 blockchain capable of powering the next generation of payment applications.
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