Yes, we are moving into a world of interoperable blockchains. No, not all of the chains touted by your favorite Youtube shiller are good. Until further notice, because I believe we are early and any tech can improve, xDai is official garbage.
I'm using xDai because I'm following a favored project, Bao.Finance, to the sidechain. But the fact the Baoman chose xDai also throws a bit of salt on his project, because if the sidechain sucks, then so will the project. So what am I finding?
Extremely slow confirmations for transactions and some functions that simply don't work. For instance, I can't see the APY or any of the wallet-specific numbers on Bao.Finance. These numbers sometimes take a while to show up on trusted chains like BSC as well, but they eventually do. On xDai, they just take too fuckin long.
There's also no liquidity on xDai. So yea, you can get your favorite ERC-20 tokens there for no fees. But I fear you'll experience the DEX version of the COINBASE Effect when volume gets high for crypto in general — you won't be able to quickly get out of positions. With Coinbase, that shit company, it's because they can't scale throughput (which is ridiculous for a company that is going to have a multibillion dollar IPO). With xDai, the low liquidity will squeeze you.
So there you go. Watch it if you're investing in the STAKE ERC-20. From firsthand experience, the gains in that coins are purely speculative. The tech does not back up any gains in that shitcoin. The performance I'm experiencing from the chain is horrible.
Crypto Twitter doesn't seem to match my sentiment. Are they farming on the same chain? Maybe those folks just have more patience than me. But the slow transaction time is just as annoying as high Ethereum fees. I think the lack of a call for better speed on xDai and more liquidity on Honeyswap points to the fact that no one's using it.
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YOUR GUIDE TO MAKING MONEY IN CRYPTO STARTS HERE ---> Making Money in Crypto Part 1
Always remember:
Burgerswap Bridge will steal your crypto
Deus.Finance is led by a psychotic wannabe despot
AllianceBlock is a shit project
All algorithmic stablecoins (Basis Cash, Mithril, Empty Set Dollar) are a SCAM
Don’t get your bitcoin from PayPal
Trade on BSC, not Ethereum
Ivan on Tech, Elliotrades and Bitboy are complete liars, and
If you are always losing money trading crypto, read here.
Gems I'm investing in:
NFTs - Doki Doki
Trading - Unimex
Finance - Soar
