• Tue. Nov 2nd, 2021

The very first hyper-deflationary digital currency to launch its blockchain – Nairametrics

ByHazel R. Lang

Oct 24, 2021

Axia is a cryptocurrency oriented company run by Nick Agar. The organization is building a digital ecosystem around the world’s first hyper-deflationary digital currency called AXIA Coin (AXC).

The world of cryptocurrency is witnessing a new model of tokenomics. With the increase in demand for certain cryptocurrency projects, more and more projects are introducing some form of deflationary token mechanism to entice their holders to hold onto their tokens by creating value in a scarce commodity.

In an exclusive interview with Nairametrics, Nick Agar, the founder of Axia, gave us an overview of the world of Axia and how hyper-deflationary tokens work.

About Axia

Axia Coin (AXC) follows the pattern of a deflationary token but in a more accelerated fashion. The Axia coin is designed to have a constantly decreasing total supply with all transaction fees automatically burned, while the pool of supporting assets in the AXIA reserve can simultaneously increase. This way the coin has an ever lower circulating supply, making it more valuable over time.

Nick Agar, the founder of Axia has over 15 years of experience in the financial sector, where he began his career in investment banking.

“I started my career in investment banking because I had both a background in technology and finance. After that I developed my own software business and that’s when I started working on an open and more inclusive financial system.

“Then I started to look at blockchain and cryptocurrency and started to see a lot of gaps that currently exist in the industry, such as lack of utility and lack of real value distributed to its owners and users. These deficiencies ended up being the starting point of Axia, which started almost 5 years ago ”, Nick told Nairametrics.

Asked about Axia’s vision, Nick explained that the main goal is to provide a more inclusive and fairer financial system for the world as a whole.

“We want everyone to participate within Axia, removing barriers to entry, where we can advance people’s lives by creating new opportunities within the ecosystem, using this hyper business model. -deflationary at the center of it. “ he said.

The ecosystem

Axia currently offers a number of services, including AXIA Capital Bank, AXchat, AXemble, AXconnect, AXpress, AXbox and AXdepot. They also have other products that will be launched soon. Speaking about these business leaders, Nick told Nairametrics that Axia has a global and ever-expanding ecosystem that includes a number of companies, platforms and applications. As the network constantly offers new value through its various business leaders, it ultimately brings more utility and value to Axia Coin.

“For example, we just brought out our browser, which is more private and secure, and when it’s used by customers, they get all kinds of rewards.

“On top of that, we just acquired a company called UBDI, which stands for Universal Basic Data Income, where we also provide people with not only value for their money, but also for their time and attention.

“This is because they now own their data and are getting real rewards for their data in a way that was not possible before.” he explained.

The hyper-deflationary digital currency model

We asked Nick to give us an overview of what “hyper-deflationary” means.

“When you look at the current monetary systems, you lose purchasing power and things get more and more expensive because they are inflationary. When we look at Bitcoin or Gold, there is deflation because of their finite supply and because of this finite supply, they are hyper-deflationary because it is not a limited supply which is static but an supply which is constantly decreasing “, he has answered.

He further explained that any activity or form of participation in the Axia ecosystem helps to reduce the supply, thus making the coin increasingly scarce and thus creating value for all who are part of the Axia community. .

The double blockchain

Axia coin is a distributed application built on a public blockchain network that interacts with Axia’s Reserve blockchain. The dual blockchain design according to Axia, “Helps ensure public transparency by providing visibility into all network activities, as well as real-time reporting of AXIA Reserve assets. “

Asked about it, Nick Agar said: “What we have is also an asset support structure for Axia. Everything that happens in the ecosystem is tracked on a blockchain which provides full visibility and full transparency, which is very important to us.

He further explained that there is also the network for the utility of the Axia coin itself, which also offers transparency and the ability to use the tokens like cash. These two blockchains interact to provide the entire support structure and usage of the currency itself.

The Ethereum gas fee crisis

Axia is built on the Ethereum blockchain and although the Ethereum blockchain pioneers smart contract applications, the network is plagued by high transaction fees (gas fees), which has led many people to turn to other Ethereum competitors like Binance smart chain, Solana blockchain, Cardano blockchain and so on.

When asked if there were any concerns about gas costs, Nick replied: “Of course, 100%. “ He further explained that Ethereum has a number of different issues, citing network congestion and sky-high fees.

“Axia is currently developing its own network and we will be releasing it soon and, again, this will be a step up from what is currently available in the market today.

“This is something that we are very happy to announce in the very near future. We are taking blockchain to the next level where there will be no congestion issues, more stable fees, and a more inclusive blockchain that is also much more energy efficient. Nick said, adding that blockchain would be a dramatic advancement for the industry.

Axia’s competitive advantage

According to Nick, Axia’s competitive advantage is that the organization is a non-profit organization. He stated, “It’s not about creating a system for corporate interests. All value always goes to the user and to those who participate in the network in whatever form.

“Because we have created so many ways to participate in the network, it has now become something where everyone can rely on Axia. I mentioned the network itself, the application and the businesses, which is really Axia, through this constant evolution, keeping one step ahead.

“Where Axia is today is not where it will be in the future. It will be an ever-evolving process to deliver more and more value to its users and participants and we are excited about that because there is so much to come in the near future. ”

Conclusion

Nick Agar concluded by giving us his opinion on cryptocurrency regulation and its top 5 cryptocurrencies. To see the full interview, click here. AXC is trading at $ 1.48 at the time of writing.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *