The XDC coin (XDC) is the native cryptocurrency of the XDC Network (formerly XinFin Network), a hybrid blockchain platform focused on revolutionizing international trade and finance. It acts as a utility token, powering various functions within the network and providing access to its features.
Here’s a breakdown of what XDC coin is:
- Hybrid Blockchain: The XDC Network combines aspects of both public and private blockchains, allowing for transparency where needed while maintaining the privacy essential for sensitive enterprise data.
- Focus on Trade and Finance: The network aims to address inefficiencies in traditional trade finance by streamlining processes like letters of credit and digitizing assets, leading to increased efficiency, reduced fraud, and enhanced transparency in the global marketplace.
- Powered by XDPoS: The XDC Network uses a Delegated Proof of Stake (XDPoS) consensus mechanism for fast and energy-efficient transaction processing and network security.
- Uses of XDC Coin:
– Transaction Fees: Users pay fees in XDC for processing transactions and executing smart contracts.
– Staking and Delegating: XDC holders can stake their tokens to become Masternodes or delegate their tokens to existing Masternodes, contributing to network security and earning rewards.
– Governance: XDC holders have voting rights within the network, influencing its future direction and development.
– Access to dApps: XDC allows users to access a growing number of decentralized applications (dApps) tailored for global commerce within the XDC ecosystem.
- Key Features of the Network: The XDC Network stands out with its speed (2,000 Transactions Per Second), near-zero transaction fees, compatibility with the Ethereum Virtual Machine (EVM), cross-chain interoperability, and adherence to the ISO 20022 financial messaging standard.
In essence, XDC Network and its native XDC coin aim to bridge the gap between traditional finance and decentralized solutions by providing a scalable, secure, and interoperable platform for global trade and financial activities.
Is XDC a good investment?
Is XDC a good investment? Despite being over 80% below its record high, XDC is considered a strong investment due to its real-world utility and upcoming XDC 2.0 upgrade. However, it is important to analyze this project before buying the token.
What makes XDC special?
From my experience, The XDC Network is a groundbreaking blockchain with impressive speed, scalability, low fees, and military-grade security.
Which is better, XRP or XDC?
Great question! XDC Network vs XRP: An Overview
XDC Network offers enterprise-grade smart contracts and is designed for trade finance, supply chain, and tokenization, fostering interoperability. XRP, on the other hand, is focused on facilitating fast and low-cost cross-border payments for financial institutions.