Stronghold® has quickly become one of the top players in the fintech world, offering next-generation payments and financial services to businesses through a simple API. With its unique offerings, even businesses rooted in legacy financial systems can operate and benefit from the fast and secure blockchain-based tools Stronghold has to offer.
It’s one thing to maintain a well-performing, customizable, and easy-to-use product that meets the needs of diverse businesses, but it’s another to do it while ensuring environmental sustainability. While creating climate-friendly products and services is of utmost importance as we move forward in tech, it can often be tough to achieve, especially in blockchain technology.
Stronghold is proud to have launched its SHx token that runs on the Stellar network, one of the most energy-efficient blockchains in the space. With its unique integration into the Stronghold model, the SHx token benefits the Stronghold payments ecosystem while limiting electricity consumption.
What is SHx?
Stronghold’s SHx token is a way for people to easily and quickly make transactions across different systems. Using SHx, merchants can earn rewards, access liquidity, and more. Instead of exchanging a cryptocurrency to a fiat currency and back again, SHx lets you make transfers cross-ledger with real-time settlement.
Through the Rewards Program, Stronghold builds loyalty and trust with merchants and partners on the payments platform. Rewards members can earn SHx rewards for every transaction dollar processed through Stronghold. They can hold or trade their rewards for other crypto or fiat currencies.
Stronghold created the token to be used for real-world purposes within its expanding payments ecosystem, offering merchants tools to best support and grow their businesses. Built on the Stellar Blockchain, SHx is available on popular cryptocurrency exchanges and wallets. Stronghold also hosts a leading crypto Discord server with over 10,000 community members. Our ecosystem members love SHx for its utility–earning rewards while protecting the environment is a win-win.
Building Sustainability into a Token
We built SHx on the Stellar network, one of the most energy-efficient blockchain networks in the growing sector. Using the Stellar Consensus Protocol (SCP), a low-energy consensus mechanism achieved through Proof-of-Agreement (PoA), SHx saves energy with each transaction. This overcomes the traditional climate concerns associated with Proof-of-Work (PoW) mechanisms like Bitcoin.
In partnership with PwC US, Stellar developed a first-of-its-kind framework to gather information about electricity consumption and greenhouse gas emissions that arise from blockchain protocols. The framework allows financial service providers to get a clear picture of their environmental footprint. With data from the framework, Stellar set out to create an energy-efficient protocol focusing on minimizing energy consumption with every transaction made.
Because SHx is built directly on the Stellar network, those using the digital token can be sure that no matter what type of wallet or exchange platform is used, they are tapping into the climate-friendly nature of the token. Stronghold is proud to offer a digital currency that supports a better earth and looks forward to building SHx as a token that meets the needs of users and the environment.