Smart contract blockchains have long been hailed as disruptive technology for the financial industry thanks to their ability to transfer value across borders at very fast speeds and at much lower costs than legacy systems.
But most modern blockchains are facing many challenges such as network congestion and high fees, which are holding back their prospects. On the other hand, a number of effective platforms have emerged in recent years, seeking to take advantage of this potential.
XDC Network, a smart contract blockchain that uses PoS consensus, compatible with EVM, is one of the platforms that has seen a lot of effort.
XDC Network, formerly XinFin Network, is a Layer-1, Ethereum Virtual Machine compatible, open source and enterprise-ready blockchain protocol, specializing in asset tokenization for decentralized finance in the real world. It uses a special type of delegated proof of stake (XinFin Delegated Proof of Stake – XDPoS) to achieve consensus, ensuring fast transaction times, minimal Gas Price and reaching over 2,000 transactions per second (TPS).
XDC Network is supported by the XDC Community, leading to the creation of the XDC Foundation, established in 2021 to accelerate the development and adoption of XDC through collaboration with a community of developers, communication experts translator and content creator.
XDC Network is a high-performance blockchain platform built for enterprise purposes in trade finance and asset tokenization. It uses the XinFin Delegated Proof of Stake (XDPoS) consensus mechanism, which involves validators performing a small amount of Proof of Work (PoW) when proposing a new Block to reach consensus. This method ensures the network consumes minimal energy and is very spam-resistant.
XDC 's XDPoS also uses a real-time voting system to select a group of validators responsible for:
During each round of 900 Block — called an epoch — a Block of censorship points is created solely to carry out the reward processes. This Block — called the Block signer — holds all the Block signatures. The Block signer is responsible for calculating the number of signatures sent to the smart contract during the epoch, and the reward is based on the number of signatures associated with a Masternode.
Block creators are selected in cyclic and sequential order, ensuring that each Masternode holder has an equal opportunity to create and sign a Block. In the current implementation of XDPoS, if a Masternode fails to produce a Block, there is a 10 second delay before the next Masternode in the chain takes over.
There is also a reward Chia structure between holder and elected Masternodes with holder support. During the first two years of each epoch of 900 Block, a reward of 250 XDC is given, distributed to Masternodes based on the number of signatures associated with each node. After this time, Masternode rewards are Chia into three parts:
XDC uses the ISO20022 financial messaging standard to ensure compatibility between its blockchain and existing financial systems. This allows businesses and governments to easily transition into a more robust decentralized network using XDC's smart contract capabilities.
Developers can quickly and easily deploy their Ethereum smart contracts on XDC Chain with minimal changes because it is EVM compatible.
XDC can support public, private, or coalition-owned chains and can be used for almost any task. The versatility of this network has been demonstrated through its use in various applications, including peer-to-peer trading platforms, blockchain-powered insurance, online digital asset linked identification, and digital asset management. Manage land records from start to finish, and more.
With its speed, security, and trustless structure, XDC 's EVM-compatible blockchain can support a wide range of DeFi applications and pave the way for a time when financial markets operate globally and decentralized around the clock. night, no central party has more power or access than any other party.
XDC Network features near-zero Gas Price , ideal for cost-effective enterprise use. The ability to end Block in 2 seconds ensures transactions are processed quickly and efficiently. Notably, it supports EVM compatibility, making it easy to Token Migration and projects like ERC-20 and ERC-721.
Its EVM compatibility allows developers to build autonomous decentralized applications (DApps). Smart contracts on XDC Network execute seamlessly, allowing trustless transactions with automatic enforcement of contract terms. Their high interoperability extends to integration with existing systems such as SWIFT and ERP, ensuring secure data transfer across platforms.
Asset tokenization is another benefit that XDC Network brings — allowing assets such as real estate, commodities, and stocks to be represented digitally. These Token , tradable on XDC Network and other compatible blockchains, increase liquidation and accessibility.
XDC Network combines the power of public and private chains, providing diverse solutions for businesses. Here are some key use cases:
XDC is the native coin of the XDC protocol, supporting transactions and smart contract execution. With a total supply of 37.9 billion (as of January 2024) and approximately 14.9 billion in circulation, its distribution includes:
XDC provides access to XDC Network features such as smart contract execution and Masternode Staking . Masternodes—critical for network consensus—secure and stabilize the system, earn XDC as a reward. Staking is open to everyone, allowing holder to earn rewards by contributing to network security and transaction verification.
The XDC community values interoperability, adopting Token Standard for smart contracts and dApps on the XDC Network . XDC Token adhere to the following standards:
XDC Network solves key challenges in public blockchain networks through its XDPoS consensus mechanism:
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