XAG Labs has made significant progress in the cross-chain field and developed an innovative payment protocol combined with Filecoin.
The traditional blockchain has always been restricted by performance in terms of payment. The new generation of blockchain represented by XAG has greatly improved the traditional blockchain represented by BTC. In Xrpalike Gene, it can make global currencies can efficiently complete payment and conversion. In one minute, you can pay to anyone in the world.
However, payment is only a part of modern business. Taking house purchase as an example, a house buyer needs to go through the steps of viewing a house, inquiring a price, signing a contract, making payments, and delivery. At each step, a large number of documents may be generated, not only contracts, but also videos, pictures, etc. Payment is only one part of it. With the new payment protocol, all steps can be put on the chain, which greatly expands the scope of use of XAG.
Filecoin is an important part of the new protocol implemented by Xrpalike Gene. The new cross-chain protocol can be integrated into XAG ledger, and each transaction can be attached to one or more Filecoin file links, so that the relevant information can be stored forever. Moreover, each XAG account can publish its own public key on the chain to ensure that all information is correctly signed.
The new payment protocol has now come out of the experimental stage and is officially used in real estate purchases in Tokyo. Introducing the value of Filecoin into XAG makes the value that can be circulated on the Xrpalike Gene more extensive.