Whatever you do, at some point you were a beginner, and crypto is no exception. The following answers some common questions and should help point you in the right direction for what you’re looking to do.
What is CHI?
CHI is the native cryptocurrency for the XAYA blockchain.
What is a blockchain?
A blockchain is a distributed ledger. You can think of it as a bit like a database that everyone shares. You can read what’s in the database, or you can make changes to it.
How do I make changes to the XAYA blockchain database?
You make changes by sending transactions to the blockchain. In order to send a transaction, you must have some CHI. Some examples of transactions you can do on the XAYA blockchain are:
- Send CHI to someone
- Create a “name”
- Send a XAYA “name” to someone
- Do moves in a game
What is a “name”?
A name is similar to an account, such as an email account or a game account. You can use it to play games built on XAYA.
How do I get some CHI?
You can get CHI from anyone that has it and that wants to part with their CHI. The easiest way to find these people is at an exchange such as Liquid.com where CHI is listed. Once you purchase CHI at an exchange, you can send it to yourself.
Can I keep my CHI on the exchange?
Yes, you can. However, unless you’re buying/selling on the exchange, it’s best to keep your CHI in your own local wallet as you are trusting the exchange with your money, and even though you may think they are safe, countless exchanges have been hacked and crypto coins stolen.
How do I send my CHI from an exchange to myself?
You need some XAYA wallet software. Check the XAYA forums or website for information on how to download an install a XAYA wallet. Once you’ve done that, you can create a CHI address and then send your CHI to yourself. That information is available in the XAYA forums.
What is wallet software?
Wallet software lets you securely keep your coins as well as send coins to others. There’s more you can do with a wallet, but that’s the basics. CHI isn’t an ERC20 token, so you can’t use MEW; you must use a XAYA wallet available at the website.
How much does CHI cost?
CHI has no set price. It’s purely what the market says it is.
Where can I spend CHI?
As more games come out, you’ll be able to spend on them. As CHI was just launched, only Treat Fighter is available. Check the forums for more information about how to get and play Treat Fighter.
Want to know more about the benefits of blockchain for gaming?
Visit https://xaya.io
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