Xfinite will run a fair and transparent ecosystem that will utilize Algorand’s Protocol Evolution system to power community consensus-based governance and decentralized finance initiatives.
Xfinite, a new generation digital media platform has tapped the power of the Algorand blockchain to launch its first dApp dubbed the Mzaalo. The Xfinite platform is a blockchain-based ecosystem with the aim to create an engaging ecosystem based on trust, transparency, and inclusivity. Xfinite is built with the aim to usher in a future with a fairer system for everyone, as it aims to revolutionize digital media by prioritizing the needs and experience of its customers.
With the Algorand blockchain, Xfinite aims to churn out a lot of ecosystem initiatives for the benefit of its users. Part of the end-game in this partnership is to drive the mass adoption of the platform’s provisions through a scalable blockchain provision that can offer the complementary throughput.
Besides its embrace of the Algorand blockchain, Xfinite has also secured partnerships with mainstream corporations, such as Microsoft Corporation (NASDAQ: MSFT), Eros Now, Dailyhunt, and SpiceJet with their millions of users having easy access to the Xfinite ecosystem.
Xfinite Mzaalo dApp and Power of Algorand Blockchain
The Mzaalo dApp from Xfinite is a streaming service platform that offers more than 50,000 hours of content and new mechanisms for engaging with content and other consumers. The app provides unique incentivization mechanisms to reward content creators while also rewarding user engagement.
Per the press release shared with Coinspeaker, these and more use cases on the Mzaalo app are designed to create unique values for its diverse users, while also creating new markets for brands and authenticating content creation.
“Xfinite has a visionary understanding of how blockchain can be leveraged for new opportunities in the media industry. Broad blockchain adoption can only be achieved through the creation of products that are tangible and inclusive for any consumer, no matter what region they are in or what their background may be,” said W. Sean Ford, COO of Algorand. “With major partnerships with organizations that have millions of users, we are excited to support Xfinite’s new applications and welcome them to the Algorand community.”
The choice of the Algorand blockchain is based on the unique technical capabilities the platform has to offer. As a pure Proof-of-Stake (PoS) platform with capabilities for immediate transaction finalization, the Algorand blockchain comes in handy to help the Xfinite ecosystem thrive in its proposed product and ecosystem functionality.
“Xfinite has been searching for a trustable, scalable, and decentralized solution that caters to mainstream adoption. Algorand is a superior technology whose volume of transactions, activity, and cost, makes it superior to other public blockchains. We are proud to partner and collaborate with founder Silvio Micali and the entire Algorand team, whose commitment and focus to the technology are inspirational,” said Mario Casiraghi, CSO of Xfinite.
Xfinite will run a fair and transparent ecosystem that will utilize Algorand’s Protocol Evolution system to power community consensus-based governance and decentralized finance initiatives.
Xfinite’s Solution Targets and the Role of XET Tokens
Xfinite’s network seeks to use its revolutionary technology in revamping digital media, crypto exchange provisions, gaming, sports, and entertainment amongst others.
At the heart of the Xfinite ecosystem will be the application of the XET token in the network’s operations. Part of the benefits the XFI token will offer its holders include unique value exchange, tapping the economic incentives the Xfinite’s platform has to offer, access to premium and exclusive content, and being able to vote for changes to the Xfinite’s protocol.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
