Layer 1 payments network CrossFi will launch an EVM-compatible network
CrossFi has launched an EVM-compatible mainnet for Web 3 payments. The network supports 10,000 TPS and connects Ethereum assets seamlessly. Management uses MPX tokens, with fees averaging $0.02 per transaction.
Cross Financial, commonly known as CrossFi, has announced the launch of an EVM-compatible mainnet, marking a significant step in the evolution of decentralized finance (DeFi) and Web3 payment solutions.
The CrossFi blockchain aims to provide a decentralized ecosystem designed to support high-volume payments and everyday transactions, bridging traditional finance with the crypto world.
The CrossFi mainnet launch comes on the heels of a successful testnet run in partnership with CoinList, which attracted over one million active wallets.
The CrossFi blockchain
The network infrastructure is built using the Cosmos SDK and TenderMint, which enables a modular design that supports up to 10,000 transactions per second (TPS).
This scalability makes CrossFi ideal for handling high-throughput payment applications similar to Visa-level processing capabilities.
As an EVM-compatible network, CrossFi allows seamless integration with Ethereum-native assets, which can be integrated into the platform and used in the payment ecosystem.
Security is bolstered by PCI DSS certification, a data protection standard recognized by major payment card companies, ensuring the platform maintains industry-leading data transmission and storage practices.
The decentralized network is powered by the Mint Power (MPX) token, which is used to facilitate transaction fees averaging $0.02 per transaction.
In addition, the Cross Financial ecosystem offers a variety of financial tools, including the CrossFi app, which enables services such as staking, lending, crypto-fiat exchange and P2P payments. Users can use CrossFi xAPP for token exchange, cross-chain asset bridging and liquid mining.
Further enhancing the ecosystem, CrossFi supports artificial asset generation, cross-linked stablecoins, and provides decentralized platforms for trading real-world assets.
CrossFinance is set to integrate multiple functions in its components to democratize access to decentralized finance and implement blockchain technology in global payments.
The network's launch partners, including Alchemy and other validators, play a key role in facilitating its implementation and maintaining decentralization.
With this mainstream launch, CrossFi is positioned to become a critical player in the evolving Web3 financial landscape, encouraging businesses and consumers to explore new opportunities in the digital payments space.
