Flexacoin (FXC) is now allowing apps to provide payments to merchants with confidence. Also, without the risk of malicious apps reversing a transaction after Flexa has transferred funds. Flexacoin Staking Aims to Make Cryptocurrency Spendable Everywhere.
The firm said that Flexacoin is designed to serve as “a reliable, neutral, and scalable token that collateralizes every payment on the Flexa network, regardless of input or output currency.”
According to the blog, “when someone pays with Flexa, the corresponding amount of Flexacoin is locked against their payment until a confirmation is achieved on both sides of the transaction, after which the Flexacoin is released and can be used to collateralize additional payments.”
The Flexa network allows the entire cryptocurrency community to engage in the collateralization of Flexa-enabled app payments. This is by opening the Flexacoin staking process to everyone.
Flexacoin Staking Aims to Make Cryptocurrency Spendable Everywhere. Once a staker collateralizes a specific Flexa-enabled app, they will earn network benefits. Thus, corresponding to the amount of payment-enabled by the collateral they contributed.
Which means, if a staker is the only contributor to the collateral, they’ll receive 100% of the network rewards processed for that app. For a given app to enable on the network, at least 100,000 FXC worth of collateral must be committed.
The firm concluded stating:
“launching Flexacoin staking will be the largest step we’ve yet taken. toward making cryptocurrency spendable everywhere. This is because it will open the door for any app to enable payments on the Flexa network.”