What Is XDC Crypto

Blockchain technology is a global business game-changer, transforming operations with secure and transparent transaction recording.

It benefits industries like finance, healthcare, and supply chain management, boosting efficiency and cutting costs.

XDC Network, an enterprise-ready, open-source blockchain protocol, specializes in decentralized finance tokenization.

Its developer-friendly hybrid architecture supports relay bridges, block finality, and blockchain interoperability, offering secure transaction recording for businesses in finance, healthcare, and supply chain management.

XDC Network/ crypto
XDC Network (XDC) is a blockchain platform that combines the transparency of public blockchains with the speed and security of private networks: Photo source (Forbes)

What Is XDC Network (XDC)?

XDC Network, founded in 2017 by Atul Khekade, Ritesh Kakkad, and Peter Yeo, aims to overcome blockchain limitations.

Using an enhanced Ethereum codebase, the network prioritizes scalability, interoperability, and security.

Since its 2018 mainnet launch, XDC Network offers financial and supply chain solutions.

The 2021 establishment of the XDC Foundation fosters community development, supporting ISO20022-compatible messaging and interoperability with legacy systems.

How Does XDC Network Work? DPoS Mechanism and Smart Contracts

XDC Network is a high-performance blockchain for enterprise trade finance and asset tokenization, using XinFin Delegated Proof of Stake (XDPoS) for energy-efficient consensus.

Masternodes validate transactions, stake XDC tokens, and maintain network security, earning rewards.

The platform features near-zero gas fees, 2-second block finality time, and Ethereum Virtual Machine compatibility.

Smart contracts on XDC Network enable trustless transactions, interoperability with legacy systems, and tokenization of real-world assets, fostering liquidity and democratizing investment opportunities.

Also read: How To Withdraw Money Out Of Crypto.com

XDC Network Use Cases

XDC Network, a hybrid blockchain, merges public and private blockchain features for versatile applications.

It enhances trade finance security, streamlines supply chain management, enables asset tokenization, facilitates low-cost cross-border payments, and ensures secure identity verification.

The network’s unique architecture proves beneficial for enterprises and governments, offering secure, efficient, and cost-effective solutions across diverse sectors.

What Is the XDC Token?

XDC is the native token of the XDC Network, used for transactions and smart contracts. With a total supply of 37.5 billion, 13.8 billion are in circulation (April 2023).

Token distribution: 40% for founders/core team, 27% for ecosystem development, 27% on pre-placement, and 6% for the XDC Foundation treasury.

Participants use XDC for network services like smart contracts and masternode staking.

Masternodes ensure network security and stability, earning operators XDC rewards.

Staking is open to all, allowing holders to earn rewards for securing the network and validating transactions.

XDC Network Ecosystem

The XDC Network’s ecosystem includes:

  1. XDC Wallet: A secure wallet for XDC and other cryptocurrencies.
  2. MyContract: A tool for easy smart contract creation and deployment on the XDC Network.
  3. Tradefinex: Connects global trade and finance participants, facilitating contracting, financing, and payments.
  4. XcelTrip: A blockchain travel platform for booking services with cryptocurrencies, aiming for accessibility and affordability.
  5. TurantPay: A payment gateway for merchants to accept XDC, Bitcoin, and Ethereum with fast transactions and low fees.

Together, these components create a robust ecosystem supporting XDC Network adoption by both enterprises and individuals.

Is XDC Network a Good Investment?

XDC Network is a well-designed blockchain project focused on trade finance and asset tokenization.

With low fees, fast transactions, and compatibility with financial standards, it aims to be an enterprise-friendly blockchain offering scalable solutions.

With tools for trade finance and supply chain management, XDC Network prioritizes enterprise-grade features.

While thorough research is crucial for investments, its emphasis on strong technical fundamentals makes it noteworthy in the blockchain space.

How to Own XDC?

To own XDC, you can use the services of a centralized crypto exchange.

Start by creating a Gate.io account, and get it verified and funded.

Then you are ready to go through the steps to buy XDC.

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