What is XPLL
XPLL is the native cryptocurrency of ParallelChain Mainnet (TXPLL in Testnet). The users of the ParallelChain Mainnet need XPLLs to pay for their transaction fees when using the network. The transaction fee is denoted in GRAY, the smallest unit of XPLL, where 1 GRAY = 0.00000001 XPLL. Other than that, XPLL also plays an important role in this Delegated Proof-of-Stake (DPoS) Mainnet; it incentivizes good behaviors and punishes actions that threaten the network's security, availability, and user experience.
For more information about XPLL, including allocations, circulation, and inflation, please refer to the XPLL Token Metrics.
XPLL acts like your ticket to the ParallelChain Ecosystem; its utilities include the following:
- Pay transaction fees on ParallelChain
- Stake XPLL to run a validator node
- Delegate to earn block rewards
- Vote on proposals and help govern the network
The smallest denomination of XPLL is called Gray. Users buy XPLL to pay for gas costs with the ParallelChain Mainnet and other purposes as mentioned in the Utilities section.
The goal of defining a denomination for XPLL is to standardize its scale with all currencies in the financial system. The table below shows the different denominations of XPLL, their abbreviations, and their equivalent values in terms of XPLL.
|Denomination||Abbreviation||Value in XPLL|
Gray is named in honor of James Nicholas Gray, a renowned computer scientist who was considered a pioneer in modern database technology. He was the award winner of the prestigious ACM Turing Award in 1998, which is the highest distinction in the field of computer science.