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Read on to learn everything you need to know about XinFin Network (XDC), including its native coin called XDC, where to buy XDC, and much more.
What Is XDC
The XinFin network uses a delegated proof of stake consensus network (XDPoS), created by XinFin, eXchange inFinite. XinFin is a hybrid blockchain platform designed to modernize trade and finance at the international level through an accessible and highly versatile decentralized infrastructure solution.
XinFin aims to minimize the global infrastructure deficit by enabling peer-to-peer financing between governments, enterprises, and private firms.
TradeFinex platform helps buyers to secure capital at globally competitive rates and gives real-time visibility on their investments using digitization and IoT integration of their assets. It also allows governments to undertake public infrastructure projects for the economic well-being of the citizens.
TradeFinex is part of the Blockchain in Trade white paper released in Geneva by the World Trade Organization & the International Chamber of Commerce.
XinFin Digital Contract (XDC) is the fuel token that powers the XDC hybrid blockchain network. The XDC token acts as a settlement mechanism for decentralized applications (dApps) built on The XDC Network. It's used for paying transaction fees and smart contract operations. XDC can also be staked to participate in XinFin's validator network and for deploying smart contracts.
Founders of XDC
The platform was funded through an initial coin offering (ICO) in March 2018, which raised $15 million. The XinFin mainnet went live in June 2019, becoming one of the first smart-contract blockchains to use proof-of-stake (PoS) consensus.
XDC's headquarter is located in Singapore and has a very favorable regulatory environment.
The XDC coin was developed by three co-founders- Karan Bhardwaj, Ritesh Kakkad, and Atul Khekade. They all have prior experience in the blockchain ecosystem. Khekade is an experienced software programmer and the founder of several tech firms, including the XDC-powered Blockdegree education platform.
Kakkad is a serial entrepreneur with multiple ventures in the digital space.
On the other hand, Bhardwaj left the company in 2018 to pursue his startup, Elatior Tech.
How Does XDC Work
XinFin is powered by the XDC01 protocol. XDC01 takes the best parts of Ethereum and IBM's Quorum platform to solve the inefficiencies in the global financial markets. The XDC Chain (XinFin Digital Contract) uses XinFin Delegated Proof of Stake (XDPoS) to create a 'highly-scalable, secure, permission, and commercial grade' blockchain network. XDC protocol is designed to support smart contracts layer, KYC/AML layer, and price stability using its hedge pool for existing cryptocurrencies like Bitcoin BTC, Bitcoin cash BCH, Litecoin LTC, and Ripple XRP on its tradefinex.org platform. The XDC protocol also supports fiat currencies. TradeFinex.org helps small and medium businesses or institutions originate their financial requirements digitally and distribute using a common distribution standard.
The platform allows organizations to participate in the global trade market for lower costs through smart contracts and real-time settlement capabilities. XinFin also intends to make cross-border transactions more efficient. Its hybrid relay bridges, instant block finality, and interoperability with ISO 20022 financial messaging standards make the platform user-friendly.
XinFin allows developers to easily deploy their Ethereum smart contracts on XDC Chain. It's used for remittance and peer-to-peer trading platforms, blockchain-powered insurance, end-to-end land registry record management, and more.
Where Can I Buy XDC
You can sell, buy or trade XDC with USD or any cryptocurrency. XDC Mainnet token is supported by multiple wallets and exchanges.
You can acquire XDC from:
Kucoin, Bitrue, Mercadox, Bitmart, Bittrex, Ethfinex, Bitfinex, Indodax, HitBtc, Liquid, Hitbit, STEX, TOPBTC, Saturn Network, EtherFlyer, and Bancor.
Go for an exchange with higher liquidity and with support for both cryptocurrency and fiat money.
