Modern society is increasingly interested in blockchain technologies and the opportunities they open up to us.
In 2021, there was a lot of noise from the world of cryptocurrencies and perhaps each of us heard news about Chia, dog coins, meme coins, the ups and downs of the crypto market, about Elon Musk, his rockets, cue ball and Ethereum.
Cryptocurrencies have become a part of our life and every year they penetrate deeper into all its spheres, from games to works of art.
Today, every artist, author or musician and every small or medium-sized entrepreneur can release their cryptocurrency, become public and feel like Satoshi Nakamoto to some extent. All this has become available thanks to the magic of modern blockchain technologies that does not stand still and are improving every day.
Chives coin (XCC) is a hard fork created by volunteers from the community using the open source code of Chia. Being completely decentralized, without pre-mining, without ICO and an autonomous cryptocurrency, it creates an energy-saving, green and environmentally friendly blockchain system.
The goal of the project is to create an independent community and a global decentralized payment network using its own cryptocurrency, called Chives or XCC, as the main payment method.
As a result of the latest update of the Chives network, a new token issuance mechanism, CAT, was inherited.
What is CAT?
Chives Asset Tokens (CAT) is a completely new token issuance standard based on the environmentally friendly Chives blockchain, similar to ERC20 for issuing interchangeable tokens on an ETHERNET network.
CAT tokens are minted from chives coin (XCC) coins and live in the Chives blockchain. The received CAT tokens can be withdrawn from circulation and recycled back into XCC.
If it is difficult for you to imagine the process of minting and decommissioning CAT, it is worth thinking about copper and coins:
- For example, in the real world, if you have a sheet of copper, you can mint pennies. The nominal value of the received coins is not directly related to the value of the copper from which they are made. With Chives, if you have a small emergency, you can issue SFE tokens, the cost of which is not directly related to the cost of the emergency from which they are made.
- In the real world, you can also melt coins and get raw copper. In Chives, you can do the same with your tokens and melt them back into XCC.
Any CAT tokens you create must follow the rules you set. You have full creative control over how the token will be put into circulation and how it will be withdrawn from it.
Here are some examples of using CAT tokens:
- A means of payment within your ecosystem or Gamefi project
- Issuance of stablecoins and meme tokens
- Issue of shares.
How do I issue my CAT token?
Anyone can issue their own token based on the Chives blockchain using the CAT standard, while not having programming skills and experience writing smart contracts using the new Chives Swap functionality, as indicated in the screenshot below:
- Visit the website chivescoin.net (1)
- Expand the Chives Asset Tokens tab (2)
- Select Issue Token (3)
- Enter the address of the chives wallet to which ownership of the tokens will be issued (4)
- Enter the number of tokens to be issued (5)
- Enter the code from the mail to confirm the transaction (6) and click Submit (7)
For the issue of the token, Chives Swap takes a commission of 2,000 XCC, which at today's exchange rate = $ 22. To issue a token, you will need 2,000 HR + a little emergency for processing from into tokens in the equivalent of 1 HOUR = 100,000 X-tokens.
Congratulations! You have become the owner of your own token, the success of which will depend on tokenomics, the marketing budget and the success of the ICO.
You can receive and send tokens using the Chives light wallet.
Along with the global energy crisis, new, environmentally friendly and energy-saving technologies are emerging that are ready to completely replace their predecessors in functionality.
The Chives blockchain, based on the outstanding Chia source code, is no exception and makes simple, understandable and accessible what has been difficult for many for a long time.