USDX Wallet is a mobile-first payment solution, powered by the blockchain and featuring a stablecoin, USDX. It’s targeted to a wide audience of crypto holders, allowing individuals to send and receive funds quickly and without commissions. The USDX Wallet app guarantees multi-level security for all transactions and instant transfers of assets by username, phone number or QR code. The native blockchain used by USDX Wallet is based on BitShares and allows 100,000 transactions per second. Many of the pain points of crypto transfers are solved by this innovative payment system, including cryptocurrency volatility, low transaction speeds, security issues related to private keys, and excessive fees, among many others.

The developers of the app dedicated their efforts to ensure the highest level of security possible. Hence, there are options to login via fingerprint or face scanning (Touch ID and Face ID in Apple’s terms). USDX Wallet employs strong encryption algorithms to protect users’ private keys. A private key is a sophisticated form of cryptography that allows a user to access his or her cryptocurrency. Another security layer is two-factor authentication (2FA) for transactions performed via SMS codes or push notifications (depending on user preference). As the white paper states, all USDX Wallet services are based on AWS and the Google Cloud platforms, which foster scalability, maintainability, and the overall security of the system.

The payment system has two cryptocurrencies at its core: USDX token and LHT coin. The USDX token is a stablecoin pegged to the U.S. dollar at a 1:1 ratio via a smart contract. USDX is collateralized by the system’s core cryptocurrency, LHT, which refers to Lighthouse Blockchain Technology (the company behind the app). The total supply of LHT is 1B coins, which will be released gradually to the market. Only 5% of the supply will be issued in the first year, while another 5% will be locked on the blockchain to provide 200% collateralization. This is reflected in Lighthouse Block Explorer, which makes the system transparent. The benefit of withholding coins is encouraging confidence in LHT owners that the value won’t suddenly evaporate if the market becomes flooded.