Verona

VERONA Price

About XION (XION)

XION is a Layer 1 blockchain designed for mainstream adoption through Generalized Abstraction, a protocol-level integration that simplifies complex blockchain interactions.

• The network utilizes a Generalized Abstraction layer to remove technical barriers such as seed phrases and gas fee complexities.
• Meta Accounts provide a familiar Web2-style login experience using email or biometrics while maintaining non-custodial security.
• A parameterized fee layer enables transactions to be denominated in stablecoins like USDC, providing familiar pricing and stability.

What Is XION

XION is a purpose-built blockchain infrastructure that aims to bring Web3 to a global audience by concealing technical intricacies. It operates as a Layer 1 network, the foundational layer of a blockchain ecosystem where transactions are finalized and secured.

Value moves through the system via network usage fees. These fees are used to offset the minting of new tokens; as network activity increases, the fee accumulation can outpace minting, potentially leading to a deflationary model where the total supply decreases. The XION token is put to work through staking to secure the network, participating in governance to vote on protocol changes, and serving as native liquidity or collateral within its ecosystem. This architecture scales by allowing developers to build user-centric applications without the fragmentation issues often found in traditional account abstraction implementations, a method that simplifies complex interactions by removing barriers like seed phrases.

What Makes XION Unique

• Generalized Abstraction: Unlike traditional solutions that add abstraction as an external layer, XION integrates it directly into the protocol's core, affecting accounts, signatures, and fees.
• Signature-Agnostic Infrastructure: The network supports various cryptographic curves, allowing it to work with common consumer devices like smartphones and laptops without requiring specific blockchain wallets.
• Abstracted Interoperability: XION uses middleware to enable interoperability, the ability to manage assets across multiple networks from a single account, extending its user experience to other connected blockchains.
• Stablecoin-Native Payments: It is a blockchain that can use USDC as its primary transaction currency, removing the need for users to acquire a separate gas token to interact with applications.

What Can You Use XION for?

• Mainstream Application Usage: Users can interact with decentralized applications (dApps) using familiar authentication methods like email, bypassing the need to manage private keys.
• Gasless Transactions: Developers can sponsor user fees, enabling a "gasless" experience where users do not pay for individual network interactions.
• Cross-Chain Asset Management: Through abstracted interoperability, users can control accounts on different blockchains, such as Ethereum or Solana, directly from their XION interface.
• Staking and Governance: Token holders can delegate their assets to validators to earn rewards and secure the network, or participate in deciding the future direction of the protocol.

How Does XION Work?

XION operates on a Tendermint-based Proof of Stake consensus mechanism, where validators are chosen to secure the network based on the amount of tokens they have locked up. The technical core involves Meta Accounts, which are smart contract accounts integrated at the state machine level. This allows the network to verify transactions using arbitrary logic, such as biometrics, instead of rigid private key signatures.

The system uses a modular design, an approach that splits the system into smaller independent parts, to manage permissions and authentication. The parameterized fee layer handles transaction costs by accepting various tokens and automatically swapping them for the native XION token to compensate validators. This system supports FeeGrant functionality, which allows one account to pay the gas fees for another, facilitating easier onboarding for new users.

Team Info and Investors

XION was developed by Burnt, a research and development company. The project was founded by Anthony Anzalone, also known as Burnt Banksy, who gained prominence in the NFT space for incinerating a physical Banksy artwork to demonstrate digital scarcity. The project is backed by a group of prominent investors including Animoca Brands, Circle, Multicoin Capital, Spartan Group, and HashKey Capital. Governance is handled through a decentralized model where token holders propose and vote on network upgrades.

Where can you buy Verona?

VERONA tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Verona is Bitget, where the most active trading pair VERONA/USDT has a trading volume of $653,077.94 in the last 24 hours. Other popular options include Gate and KuCoin.

What is the daily trading volume of Verona (VERONA)?

The trading volume of Verona (VERONA) is $5,569,990.73 in the last 24 hours, representing a 111.60% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Verona (VERONA)?

Verona (VERONA) reached an all-time high of $6.83 and an all-time low of $0.09154. It’s now trading -97.70% below that peak and 68.20% above its lowest price.

What is the market cap of Verona (VERONA)?

Market capitalization of Verona (VERONA) is $10,911,961 and is ranked #1133 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of VERONA tokens (71 Million tokens are tradable on the market today).

What is the fully diluted valuation of Verona (VERONA)?

The fully diluted valuation (FDV) of Verona (VERONA) is $30,801,493. This is a statistical representation of the maximum market cap, assuming total number of 200 Million ETH tokens are in circulation today.

How does the price performance of Verona compare against its peers?

With a price increase of 32.90% in the last 7 days, Verona (VERONA) is outperforming the global cryptocurrency market which is up 6.50%, while outperforming when compared to similar Smart Contract Platform cryptocurrencies which are up 6.50%.