#CryptoLife Recap: Looking at the POA Network Projects
From October 26–29, POA Network judged the Status #CryptoLife Hackathon in Prague, Czech Republic. In this post, we’ll be reviewing the top 3 developments done on POA Network and xDai Chain. We had the opportunity to sit down and talk to the various teams that participated in these developments and learn more about their projects.
The team is made up of Alessio Delmonti, who is the founder of Dexlab and Nicola Di Marco. Dexlab is an open source infrastructure with an array of added value financial technology services to foster global adoption of cryptocurrencies while preserving the original decentralized ethos. Alessio tells us below about the project, the team and why they chose to deploy to xDai for their Hackathon project.
Can you tell us about your project?
xPay is an open Point Of Sale (POS) and payment platform that allows merchants to accept DAI. With this method, merchants and customers avoid the extra hassle and confusion of having to convert between different currencies, since the value of DAI has a consistent stable peg to USD. This solution is particularly secure since no keys are stored in the POS as the connected wallet is used in “watch mode” only.
What problem are you trying to solve with xPay?
The main pain points xPay plans to solve exist specifically in solutions offered today (WeChat Pay & AliPay), with some examples including high degree of centralization, censorship, mandatory bank account, and much more. These are all serious concerns and are addressed by xPay.
Why did xPay choose to launch on xDai Chain?
We believe that xDai Chain opens up avenues for real use cases that are essential within a local economy. By having a USD stable coin and predictable USD gas costs within a network, we’re able to operate in a high performance state executing transactions in merely seconds resulting in a quick and seamless user experience. We also wanted to add that the BlockScout explorer API is very easy to connect to and we were able to leverage it without any issues during the hackathon.
Nicolas Mahe, co-founder of MESG Foundation took part in the #CryptoLife as a solo developer where he created and xDai oracle to extend and add more functionality to the smart contracts that exist within xDai Chain.
Can you tell us a bit about xDai Oracle project?
One unique functionality that was included within this initiative was the ability to send e-mails directly through smart contracts. Each time an e-mail is sent using a smart contract, xDAI is used to pay the gas costs to facilitate the process. Whispers is another event that was being worked on, in order to be added to the xDai Chain smart contracts, but unfortunately it could not be completed within the hackathon time period.
What problem are you trying to solve with the xDai Oracle?
The authorities of the xDai Chain should provide more functionalities for their smart contracts. As it’s a Proof of Authority chain, users of the chain must already trust the authorities of the network. Adding “centralized” functionalities, like a built-in and inexpensive oracle or even trusted execution functions makes a lot of sense in this environment. By having more functionalities, we will bring a lot more DApps’ developers that want to create useful applications with a low barrier to entry and a UX as good as Web2 apps.
Why did xDai Oracle choose to launch on xDai Chain?
I chose to work on the xDai chain because of the interesting mix of a POA consensus, a stable coin and a fixed gas price. I think it’s a really good step for lowering the barrier of entry for users. The concept of tokens, POW, variable fees, and long wait for transactions to get mined, are concerning to people who don’t know blockchain. The tools around xDai Chain are great. I didn’t have any issues on using and deploying smart contracts on xDai Chain and the DAI to xDAI peg worked really well.
The team behind CryptoTeka is made up of Nelson Castillo, Camilo Soto and George Famutimi. We spoke to Nelson Castillo about CryptoTeka DApp, the problems they were trying to solve with and why they chose to deploy on xDai Chain.
Can you tell us a bit about CryptoTeka?
CryptoTeka can be defined as a jukebox where people can upvote songs that they would like to listen to. Whenever a song ends, it’ll play the following song in the list based on the number of received votes. If at some point no song has upvotes then nothing is played. The songs are represented as non-fungible tokens (NFT), where the songwriter’s address is tracked as the owner’s address. When a song is played, the song (actually the NFT) is paid with a microtransaction as a reward.
What problem are you trying to solve with the CryptoTeka?
In the music and entertainment industry, artists have difficulties giving people access to their work in a way that allows for fair compensation for their effort. In response to this issue, we aim to create a system that can be used to create incentives for content creators to share their work. At events, DJs and other single entities are the sole curators of different types of sounds and melodies. CryptoTeka also promotes social curation of media with its unique rewarding mechanism.
Why did CryptoTeka choose to launch on xDai Chain?
We were curious about POA from the beginning and definitely wanted to try it to see if it was faster than the test networks. We particularly liked two specific aspects of POA Network. The first being the use of xDai for gas and as the chain’s native currency for xDai Chain. This basically meant that our entire service offering within CryptoTeka could avoid things like volatility in digital asset valuations along with friction and hassle of an extra token. The second direct benefit we experienced were the 5 second block times which really helped us test the voting functions for our curating processes. In conclusion, POA Network has some great open source tools and we had a great experience with our deployment.
At this point, on behalf of POA Network we would like to thank all of our Hackathon participants. We had a great time judging all of the fabulous development done on xDai Chain.
Stay tuned for our next event!
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