Ethereum
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ETH · 1w

Prediction Markets Platform Becomes First Dapp on xDAI Sidechain

Prediction Markets Platform Becomes First Dapp on xDai Sidechain Helena goes live on the xDai sidechain to speed up transactions, reduce gas cost, and revamp Ethereum UX

Helena, an Ethereum-based platform that leverages the power of global prediction markets to deliver real-time quantified blockchain insights, is proud to announce that it is now the first full decentralized application (dapp) to go live on the xDai sidechain, significantly improving the user experience by making transactions faster and cheaper. The average block time on the xDai sidechain is 5 seconds, and gas price is fixed at 1 Gwei and paid with the xDai stablecoin.

The xDai Chain is an Ethereum-based blockchain, created by POA Network in partnership with MakerDAO, that uses USD-stable xDai (a representation of Dai token) as the native coin of the network and leverages the Proof of Autonomy consensus model, in which the validator set is managed by a decentralized autonomous organization (DAO). xDai was recently used at ETHDenver as a platform for the burner wallet, which allowed thousands of attendees to seamlessly buy food and transfer funds.

Ethereum User Experience 2.0

“With xDai, we wanted to create an Ethereum 1.0 complimentary network without launching a highly volatile and competing token,” said Igor Barinov, Tech Lead of POA Network. “We love Ethereum and our aim is to see it grow as much as possible. Helena is an early adopter that is reaping the rewards of the xDai Chain as it is cost-efficient, fast, and serves effectively as a USD stable network. We look forward to seeing more dapps like Helena join the xDai ecosystem.”

Users can now go to the Helena interface and sign up with MetaMask. Users’ accounts will be whitelisted within 24 hours and they will receive 2000 xP+ tokens to participate in prediction markets. xP+ tokens are essentially zero value reputation tokens used to track performance on the xDai sidechain. Helena will also send the first 500 use...

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