USDX [Kava] (USDX) Price

USDX is the main native utility and algorithmic crypto stablecoin that leverages decentralized finance (DeFi) to power the Kava network. The Kava network is a fast Layer-1 blockchain network that features a special architecture known as the creator-optimized co-chain architecture. This special architecture combines the features of two main blockchain networks—Ethereum (ETH) and Cosmos (ATOM) into a single interoperable and scalable network. 

The Kava network is a blockchain-based decentralized finance (DeFi) platform where users can lend or borrow cryptocurrencies and crypto assets without the interference of centralized bodies or traditional financial entities. The Kava platform also provides its users with special services for its users, traders, and investors. 

How Does USDX [Kava] Work?

The creator-optimized co-chain architecture that the Kava network utilizes possesses the speed and flexibility associated with the smart-contract functional Ethereum (ETH) blockchain and the interoperability feature of the Cosmos (ATOM) network. By combining the benefits of both networks, developers on the Kava network will be able to create decentralized applications (dApps) that will benefit from the security and scalability of the Kava network. 

The Kava network is secured by the Tendermint consensus. This consensus is characterized by its unique scalability and single-block finality. The consensus will enable users of the Kava network to perform numerous transactions. It will also allow the network to support and cater to the needs of its millions of users thereby ensuring the integrity of the Kava network. 

The USDX [Kava] Team

The Kava platform was founded in 2018 by three innovative crypto experts known as Brian Kerr, Scott Stuart, and Ruaridh O'Donnell. The Kava network lending protocol started allowing the Binance Coin (BNB) collateral for cryptocurrency loans in USDX [Kava] in August 2020.