The Layer 1 payment network CrossFi starts EVM-compatible Mainnet

• CrossFi has started an EVM-compatible Mainset for scalable web3 payments.
• The network supports 10,000 TPS and seamlessly connects Ethereum assets.
• governance uses MPX token, whereby the fees are $ 0.02 per transaction.

Cross Finance, generally known as CrossFi, has announced the start of its EVM-compatible Minnets and thus marks an important step in the development of decentralized finance (Defi) and Web3 payment solutions.

The CrossFi blockchain aims to provide a scalable, decentralized ecosystem that supports payments with a high volume and everyday transactions and beats a bridge between the traditional finance and the world of cryptocurrencies.

The start of the CrossFi in-line follows a successful testnet that was carried out in cooperation with coinlist and attracted over a million active wallets.

The CrossFi blockchain

The infrastructure of the network is based on the Cosmos SDK and Tendermint and enables a modular structure that supports up to 10,000 transactions per second (TPS).

Due to this scalability, CrossFi is suitable for hosting payment applications that require a high throughput, similar to processing functions at the Visa level.

As an EVM-compatible network, CrossFi enables seamless integration with Ethereum native assets, which can be connected to its platform and used within its payment ecosystem.

Security is reinforced by the PCI DSS certification, a data protection standard recognized by large payment card companies that ensures that the platform maintains industry-leading data transfer and storage practices.

The decentralized network is controlled by the MINT Power (MPX) token, which is also used to facilitate transaction fees of $ 0.02 per transaction.

In addition, the Cross Finance ecosystem offers a variety of financial tools, including the CrossFi app, which enables services such as stucens, lending, crypto-fiat exchange and P2P payments. Users can also use CrossFi XAPP for token swaps, cross-chain-asset bridging and liquidity reduction.

To further improve its ecosystem, CrossFi supports the shaping of synthetic assets, overpassed stable coins and offers decentralized platforms for trading in real assets.

By integrating several functionalities into its components, Cross Finance is intended to democratize access to decentralized finances and facilitate the introduction of blockchain technology in global payment transactions.

The starting partners of the network, including Alchemy and other validators, will play a key role in optimizing performance and maintaining decentralization.

With this Mainnet start, CrossFi is able to become a central player in the developing web3 financial landscape and give companies and users the opportunity to explore new opportunities in the digital payment area.