An entertainment-focused Ethereum
Priced at $299, the XForge will feature 256GB of storage and 12GB of RAM, in addition to a Snapdragon 8 Gen 2 processor, the company said. As a layer-3 network, Xprotocol is currently built on top of Base, the Coinbase-launched layer-2 scaling network on Ethereum.
Still, XProtocol said alongside its smartphone announcement that it will eventually migrate to its own layer-1 network to achieve “greater autonomy and scalability.” Initially, Base was chosen as the first stop for building XProtocol because of its need to handle many transactions at once.
The term DePIN, short for decentralized physical infrastructure networks, describes networks of physical hardware underpinned by blockchains. XProtocol said its network will be powered one day by software running on XForge handsets, in addition to so-called Xardian Nodes.
“XProtocol is pioneering a new era in blockchain technology,” said Saison Capital Partner Qin En, in a statement. “By combining the accessibility of mobile devices with the power of decentralized networks, XProtocol is setting a new standard.”
XProtocol’s announcement follows Solana Mobile’s foray into the crypto smartphone space with the release of the Saga last year. The subsidiary of Solana Labs recently unveiled details for its upcoming Seeker smartphone, which is striving to offer more features and functionality for less cash than its predecessor—as low as $450 for early pre-orders.
Selling node licenses is a model popularized in the blockchain gaming world by Ethereum networks like Xai and Hychain, but it has now expanded to DePIN and mobile infrastructure with XProtocol and the XForge phone.
XProtocol has launched a testnet for the layer-3 network. And the company said that XProtocol’s mainnet will launch sometime in the fourth quarter of this year. More than 5,200 nodes have already been sold, with node operators earning a share of network tokens for supporting the chain over its first 48 months of operation.
The Cayman Islands-based firm announced that it had raised $800,000 in a strategic funding round in July, lifting XProtocol’s total amount raised to $5.2 million. Aside from Singapore-based Saison Capital, the funding round has seen participation from the venture capital firms Dragonfly and Caballeros Capital, as well as gaming hardware giant Razer.
Cypherpunk Technologies is expanding its massive bet on Zcash by launching what it calls the…
MapleStory Universe is putting artificial intelligence in the hands of game creators with the launch…
Kalshi is making another major move beyond prediction markets, filing with the Commodity Futures Trading…
Coinbase is bringing high-leverage decentralized derivatives directly into its Base App through an integration with…
Hong Kong's first regulated Hong Kong dollar stablecoin is moving beyond testing and into real-world…
Cybersecurity researchers at Rapid7 have uncovered a sophisticated crypto fraud operation that used nearly 885,000…