Offchain Labs Develops Xai for Seamless In-Game Item Trading

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Xai (XAI), developed by Offchain Labs and using Arbitrum technology, is a decentralized platform that allows players to trade in-game items without needing a crypto wallet. Its open network architecture and community governance encourage user participation, while Arbitrum integration ensures fast and low-cost transactions. Additionally, its compatibility with other Blockchain networks allows seamless trading of assets from different games. In this article, you can find answers to two frequently asked questions: what is Xai (XAI), and how to buy Xai (XAI) with TRY.

What is Xai (XAI)?

Xai is an innovative decentralized platform aimed at revolutionizing how players trade in-game items. Developed by Offchain Labs and utilizing Arbitrum technology, Xai offers a seamless and user-friendly experience for players to trade their in-game assets without needing traditional crypto wallets. This approach eliminates the technical barriers that often discourage players from participating in Blockchain-based trading, making it accessible to a broader audience.

One of Xai’s standout features is its open network architecture. This design principle ensures the platform remains decentralized and democratic, allowing anyone to operate a node within the network. Individuals can contribute to the network’s security and efficiency by participating as node operators and earn rewards in return. This fosters community engagement and helps maintain the network’s integrity.

In addition to its open network, Xai embraces community governance. This means users have a say in the platform’s development and decision-making processes. Governance tokens are distributed among participants, enabling them to vote on proposals and influence the network’s future direction. This democratic approach fosters a sense of ownership and participation among users, ensuring the platform evolves in alignment with the community’s needs and preferences.

The integration of Arbitrum technology is another significant feature of Xai. Arbitrum is a Layer-2 scaling solution for Ethereum known for its ability to increase transaction throughput while reducing costs. By leveraging Arbitrum, Xai can provide fast and cost-effective transactions, which are crucial for trading in-game items. This technology ensures transactions are executed quickly and efficiently, enhancing the overall user experience.

Moreover, Xai’s design allows for interoperability with other Blockchain networks. This means in-game items from different games and platforms can be seamlessly bought and sold within the Xai ecosystem. This interoperability expands players’ possibilities, allowing them to diversify their assets and enter a broader trading market. It also promotes collaboration between different gaming communities, offering a more interconnected and vibrant ecosystem.

How to Buy Xai (XAI) with TRY?

Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy Xai (XAI). Binance TR allows the buying and selling of over 100 cryptocurrencies, including XAI, with a quick account setup. Follow these steps to buy Xai (XAI) with TRY on Binance TR.

How to Open an Account on Binance TR?

Opening an account on Binance TR is quite easy. Go to trbinance.com and proceed from the “Create Account” step. In the first step of account creation, you will be asked to enter basic information such as your email address, phone number, name-surname, date of birth, nationality, and Turkish ID number.

After entering the requested information completely and accurately, email/SMS verification will be conducted to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).

How to Verify Your Account on Binance TR?

Identity verification on Binance TR is one of the security procedures that must be completed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can choose to perform the verification process from your phone or through Binance TR’s official website. Note that you will need your mobile phone to perform identity verification from the website.

On the Binance TR website, hover over the “Profile” option at the top right, select “Identity Verification and Limits” from the drop-down menu, and then click “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, click “Copy URL” to send the identity verification address to your phone via SMS.

When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. First, tap the “Identity” option to continue.

Then a screen like the one below will appear. To continue the verification process, first select the document type that suits you.

After selecting the document type, tap the “Upload Front” option to continue. After taking a photo of the front of the document according to the document type you selected, tap the “Upload Back” option and take a photo of the back of the document and upload it. Ensure that the images are clear and that the information in the photo is easily readable when taking photos of the front and back of your ID card or driver’s license.

Then tap the “Selfie” option to continue. At this point, your phone’s front camera will open, and you will need to scan your face. Make sure your face fills the camera area as much as possible once the camera opens.

After completing all these steps accurately and completely, your identity verification process will be completed shortly.

How to Deposit TL on Binance TR?

You can easily deposit TL into your Binance TR account from all banks. You can deposit TL 24/7 and make uninterrupted transactions from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits up to 50,000 TL can be made 24/7 via FAST from other banks. Deposits over 50,000 TL from other banks are processed during EFT hours.

To deposit money into your Binance TR account, first go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click the “Deposit” option from the drop-down menu.

Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking the “Other Banks” option.

In this example, we will continue using Vakıfbank, but the process is the same for all banks. When you click the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST. Now, all you need to do is use the information displayed on the bank’s page to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.

After your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.

How to Buy XAI Coin with TL on Binance TR?

After the deposit process, you can proceed to the TL to XAI coin purchase step by clicking the “Buy-Sell” option in the top left menu on the Binance TR website.

After clicking this option, the following page will open. You can go to the TL to XAI purchase page by typing “XAI” in the search box on the right side of this page and clicking the XAI/TRY option from the results.

Now the following XAI trading page will open. On this page, in the area marked with a red box, you need to enter the price at which you want to buy XAI in the first box and the number of XAI you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy XAI” button.

What is Binance TR?

Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.

Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer trading services from fiat to crypto and crypto to crypto. Users in Turkey can seamlessly deposit and withdraw Turkish Lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.

Users gain access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls supported by Binance’s core functionalities through Binance TR.

The post first appeared on COINTURK NEWS: Offchain Labs Develops Xai for Seamless In-Game Item Trading