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XDC Network

XDC Network

XDC Network (XinFin) is a public blockchain compatible with EVM (Ethereum Virtual Machine).

XDC Network (XinFin) is a public blockchain compatible with EVM (Ethereum Virtual Machine). Offers users low (almost zero) transaction fees, short confirmation times, double checks, and randomization for security. The XinFin consensus is a delegated proof of stake (XDPoS).

XDC is the base utility token backed by the XinFin hybrid blockchain. Acts as a settlement mechanism for applications and users. Serves as a means and reward for staking. The holder stakes or delegates his coins to one or more validators. The validator is responsible for validating and creating blocks. The reward is once per epoch – a multi-block cycle. XDC is currently ranked 75th by market capitalization of all cryptocurrencies and tokens, growing at over 1800% per year.

XinFin is a Blockchain enterprise hybrid technology company optimized for international trade and finance. The XinFin network runs on its own coin called XDC. XDC protocol supports smart contracts, 2000 transactions per second, transaction time 2 seconds, KYC for masternodes (validator nodes). XDC Chain (XinFin Digital Contract) uses XinFin Delegated Proof of Stake (XDPoS) with the intention of creating a "highly scalable, secure, permissive and commercial grade" blockchain network.

XDC is the underlying utility token that powers the XinFin hybrid blockchain. The XDC token acts as a settlement mechanism for DApps built on the XinFin hybrid chain.

The XinFin XDC mainnet token enables real XinFin use cases such as TradeFinex.org, helps small and medium enterprises or institutions create their own

financial needs in a digital, fully structured way so that they can distribute them to banks or non-bank sponsors using a common distribution standard.

To date, the following use cases have been created based on the XinFin utility token XDC: MyContract, TradeFinex, Kramaa, Land Registry, iFactor, Blockdegree, and TurantPay.

The XinFin network is designed to overcome the scalability issues that plague many modern blockchains, including Bitcoin and Ethereum. The network is based on a system of 108 masternodes, consensus implies a delegated proof of stake (XDPOS) that provides confirmation of transactions within two seconds and low fees.

XDC Network supports all smart contracts and protocols that are compatible with the EVM, and also provides the ability to transfer assets atomically. The developers plan to regularly introduce new improvements, sharding, EVM parallelization, private chain generation, hardware connection, in such a way that a blockchain with smart contracts is obtained, ideal for issuing tokens and integrating small and large businesses.

XinFin aims to solve problems such as:

-Long duration of transactions due to Ethereum network congestion.

-high transaction fees.

-strong centralization of many blockchains.

- the lack of opportunities for alternative blockchains to interact with Ethereum.

Blockchain has become one of the most significant modern technologies. It allows the use of many decentralized applications - not only cryptocurrencies, but also a countless range of smart contracts, supply chain management, etc. To achieve maximum integration in various areas of the economy, business, logistics, infrastructure must successfully compete with mainstream technologies such as payment processors Visa and MasterCard. However, Bitcoin and Ethereum are not able to cope with this task, their transactions are too slow. XDC Network continues to work on scaling, while trying to meet the requirements for system security.

How Is the XDC Network Secured?

XDC Network relies on a delegated proof-of-stake mechanism, titled XinFin Delegated Proof of Stake (XDPoS) to reach consensus, in which validators have to perform a small amount of proof-of-work (PoW) when proposing a new block. This unique consensus mechanism ensures the network uses virtually zero energy and is highly resistant to spamming.

A proposed forensics-enabled consensus mechanism (termed XDPoS 2.0) is built upon the most advanced BFT consensus protocol and will equip the XDC Network with military-grade security and performance, greatly conserve resources, and be fully backwards-compatible in terms of APIs.

Timeline

2021
XDC Network was founded by Atul Khekade and Ritesh Kakkad.

Products

Patents

Further Resources

Title
Author
Link
Type
Date

XDC and 30 Reasons to Invest

Web

August 31, 2021

XINFIN – Decentralized Interoperable Hybrid Network // How to Buy XDC Tokens?

Web

March 30, 2021

XinFin Network - TOP Project Overview / Hybrid Blockchain Platform

Web

March 18, 2021

References

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