XDC Network (XDC)

Last updated 19/09/2021

What is XDC Network (XDC)?

XinFin is a hybrid blockchain platform based out of Singapore. The XinFin Network incorporates different aspects of the Ethereum public blockchain and the Quorum private blockchain to create their hybrid protocol. XinFin’s ability to highlight the limitations in early blockchain technology such as high user fees, poor developer experience or low productivity has enabled them to create what developers claim to be a third generation blockchain.

XinFin uses ISO20022 messaging standards, an emerging global standard for payments messaging, which gears XinFin with attributes such as Instant Block Finality and Interoperability. The project aims to eventually become the language of global trade and finance and to do this, they must bridge the gap between legacy systems and the blockchain. Developers claim that this hybrid blockchain is the next generation of the global computer network, combining both the transparency of public blockchain technology with the security and speed of private network technology.

XinFin can be seen as unique in many ways, one of which is through its consensus mechanism, which uses XinFin Delegated Proof of Stake (XDPoS). This ultimately means that for the network to both run and be secured, XinFin relies on a group of distributed nodes that must meet a required stake volume. In order to maintain this consensus, XinFin consumes around 0.0000074 TWh of electricity in comparison to other market leaders such as Bitcoin and Ethereum who reportedly consumer 71.12 and 20.61 TWh respectively to produce the same output. It is therefore argued by the creators of XDC that XinFin is one of the most environmentally friendly blockchains currently operating.

Team

XDC’s developers, XINFIN Foundation, is a not-for-profit organisation who are looking to cooperate with different international governments on the matter of bridging the existing gap in global infrastructure. As claimed by XinFin, the lack of sponsored financing by governments impedes the ability to enhance many infrastructure projects globally.

XinFin has a team of multiple senior advisers, with extensive experience and knowledge in the space:

Roger Ver – CEO at Bitcoin.com - Dubbed ‘Bitcoin Jesus’, he is also pro Bitcoin-adoption around the world. In 2011, his company Memorydealers.com, became the first mainstream company to accept payments in bitcoin.

Mate Tokay – COO at Bitcoin.com – An active a vocal proponent for both Bitcoin and Bitcoin Cash. Tokay focuses his attention on staying on top of industry trends as well as communicating his broader vision to others, with his goal being to make cryptocurrencies as popular as possible.

Jason Butcher – Co-Founder - Blockchain Hub, COO – Coinpayments – An entrepreneur with lots of experience in building global businesses across diverse industries. Butcher is keen to apply his entrepreneurial spirit to the mission of digitalising the world of finance and payment processing.

Roadmap

2017

Q1 – Global Expansion of XinFin and TradeFinex
Q2 – Release of Business & Technical White Paper (V1), Initiate setup of XDCO1 Protocol
Q3 – Initiate Development of TradeFinex
Q4 – XDC Android Wallet Launched, Demonstration of TradeFinex POCs & Hedge Pool

2018

Q1 – TradeFinex Beta Launch & Setup of XDCe, Listing of XDCe and XDC Token
Q2 – Cold Storage wallet, Deployment of client’s private sub-networks
Q3 – Tie-up with global institution & Enterprise
Q4 – Setup multiple MasterNodes Globally

2019

Q1 – Launch of Open Hackathon, Rollout of: XDPoS Network, dApps Wallet, dApps Mobile Wallet
Q2 – Rollout of Live XDC Public Net, Rollout of Standardize dApps Web Wallet MainNet
Q3 – Implement Masternode Pool Contract, 3 members for governance body
Q4 – 50-200 masternode Setup with 10M staking each

2020

Q1 – Regulated Custodian Integrations and Partnership for ecosystem development and XDC adoption
Q2 – Staking of XDCe on Bancor Network, XDC listed on multiple platforms including: Bilaxy, BuyUCoin
Q3 – Gaurda Wallet lists XDC MainNet coins, Andre Casterman joined XinFin as an advisor
Q4 – Hardware Wallet Ledger integration for the XDC Network Coins, Auto swap for XDC : XDCe

2021

Focus on implementing a robust support for the XDC Mainnet by integrating new wallets:

Wallets include both hardware and software: Ledger (Full Support), D’CENT Wallet, Trezor (Integration ongoing)

Increase the usage of XDC with dApps currently running on the XDC Network:

TradeFinex: Integration with more originators, Scaling up liquidity pools on TradeFinex, Integration with exchanges and custodians who can offer yields to their own stakers.

Market making and driving liquidity incentivising Market Makers:

The XDC Ecosystem Pool will pay incentives for maintaining liquidity in a self-controlled Money Market account

Establishing Global Awareness and Community Engagement:

XDC collaborate with Market Across to continue community and ecosystem growth

Interoperable functionality with the Ethereum (ETH) protocol:

Programmers of Bancor and XDC are in partnership to integrate XDC with ETH on BancorX

For further information on XinFin’s History and Future Plans, please click here.

Where to Store XDC Network (XDC)

XinFin itself has its own official XDC web wallet. This option is a client side, free interface where you can interact with the XinFin Blockchain. The company also support their own mobile wallet which can be downloaded on both iOS and Android devices to enable users to check their XDC balance in fiat currencies and monitor exchange rates with real-time price charts. There are multiple functions to the XDC wallet such as the ability to generate wallets, connect with smart contracts, and much more.

An alternative multi-currency wallet to securely hold XDC is Guarda Wallet. Guarda is a non-custodial cryptoasset storage platform that offers a desktop and mobile version, as well as a web wallet and a chrome extension. To learn about generating a Guarda XDC wallet, please refer to their official site.

Where to Buy and Sell XDC Network (XDC)

You can Buy & Sell XinFin (XDC) here at BC Bitcoin. You can Buy XDC by heading over to the Buy Coins Page of our website. XDC is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying XDC has never been easier, simply place your order and provide your wallet address. Once your payment arrives, XDC will be sent directly to your wallet.

If you choose to Sell XDC, you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins Page.

XDC Network (XDC) Resources

XinFin Website: https://xinfin.org/

XinFin Block Explorer: https://explorer.xinfin.network/home

XinFin GitHub: https://github.com/XinFinorg

XinFin Twitter: https://twitter.com/XinFin_Official

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.