Splunk Applies Ethereum-based xDAI Chain at Las Vegas SplunkConf 2019

Splunk Uses Ethereum sidechain xDai Chain for payments at its Las Vegas event. A look at the PonyPurse and Buttercup Bucks (BCB) story from the conference.

Splunk, a public traded software company, is using xDai Chain, which is an Ethereum sidechain, to foster payments at a conference in Las Vegas.

Remittance at the SplunkConf 2019

According to reports received by Cointelegraph on Oct. 24, the attendees at the conference were allowed to use a modified and committed version of Pony Purse. That is the xDai’s Burnerwallet.

The head of DLT and blockchain for Splunk, Nate McKervey, on his twitter account recently confirmed that more than 10,000 participants of the conference spent Buttercup Bucks.

His tweet read,

The company advertises itself as “The Data-to-Everything Platform.” According to NASDAQ, the market cap for this company is currently just below $18 billion. Its annual revenue is estimated to be around $2 billion by Crunchbase.

No application is required

McKervey also added that users of this platform did not have to manage private keys or download an app for them to interact with this system.

He noted,

Most users won’t even know they are interacting with blockchain-based digital tokens.

He pinpointed that this distribution method was not common. It entailed tokens being airdropped to around 25,000 ligneous poker chips. Users of this technology just scanned the QR code using their mobile phones, and they acquired the value contained in the wooden chips.

xDai’s block explorer reports that there are more than 22,000 addresses that are already involved with these tokens. Also, more than 48,000 BCB deals have happened. Splunk’s head of blockchain concluded that there would be more announcements about this project in the coming days.

XDAI is a crypto valuable that is pegged to DAI. DAI is an Ethereum-based stablecoin that is decentralized and is traded against the USD. xDAI tokens are initiated by locking up DAI tokens on Ethereum’s blockchain in a smart contract. The tokens can be redeemed as DAI tokens once more after the initial ones that have been destroyed.

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AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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