Cryptocurrency project Catena X (CEX) has announced that the CEX token will be deployed on the Solana (SOL) blockchain within a couple of days. Launching on the Solana blockchain is an essential step in achieving Catena X’s vision of delivering a cross-chain protocol that allows users to transact across several blockchains. Solana was selected because it is scalable and can process transactions very quickly at a cheap cost. In addition to deploying on Solana, Catena X plans to expand to other blockchains. This includes the Cardano blockchain in January 2022. There were initial plans to deploy the CEX token on the Ethereum blockchain, but this has since been delayed until after the deployment on the Cardano blockchain because of the high fees currently incurred on the Ethereum network.
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Founder Janssen says, “We are excited for the future of Catena X efficiently bridging blockchains. Our offering will provide a much-needed utility for the community and allow for seamless transactions across multiple blockchains. The Catena X project has achieved significant growth since launching, and our community has grown drastically in a short period of time – it’s really humbling!”
Catena X’s community has expanded significantly since the project’s launch earlier this year. Catena X is also gaining additional popularity after launching a community incentive program, known as a bounty campaign, and launching an NFT design competition where community members can create and submit Catena X NFT designs for a reward. Catena X also has some exciting features that make it a much sought-after cryptocurrency. As it relates to governance, community members can place votes, delegate, and add to Blockchain history.
Catena X is one of the latest cryptocurrencies expected to transform the world of Decentralized Finance (Defi). It is a multi-chain transfer protocol connecting several blockchains and allowing trades and transactions between different crypto ecosystems.