XDC Network (XDC)
XDC Network is an open-source blockchain protocol specifically designed for enterprise use. It is EVM-compatible, allowing for the execution of smart contracts to facilitate the transformation and decentralization of the trade finance industry. Founded in 2017, the XDC Network's community-driven backbone, the XDC Foundation, was established in 2021 with a grant from XinFin. The network supports a wide range of decentralized finance (DeFi) applications, and its consensus mechanism, XinFin Delegated Proof of Stake (XDPoS), ensures minimal energy consumption and resistance to spam attacks.
Enterprise capabilities
XDC Network offers a trusted environment for enterprise collaboration and development. Enterprises joining the network can leverage its various capabilities, such as asset tokenization, digital asset creation, and ISO 20022 financial messaging standard.
| Ticker | XDC |
| Category | Finance / Banking |
| Website | https://xinfin.org |
| @XinFin_Official | |
| Telegram | xinfintalk |
| https://www.reddit.com/r/xinfin/ |
Asset tokenization
The network facilitates the transformation of real-world assets into digital assets through smart contracts, enabling borderless exchanges and compliance with regulatory standards.
Digital Asset Composer
This tool allows users to create digital assets without needing coding skills, enabling the development of smart contracts, DeFi protocols, and customizable NFTs.
ISO 20022
XDC Network's ISO 20022 API Solution allows global financial institutions to send and receive financial data, simplifying migration to new financial messaging standards.
Cross-chain bridge
Multiple bridges on the XDC Network enable interoperability with other EVM-compatible blockchains, enhancing multi-chain connectivity.
Regulated stablecoins
The network supports a regulated stablecoin ecosystem, offering stability and transparency within the blockchain environment.
Custodial solutions
XDC Network provides custodial solutions to ensure secure digital asset management, including collateral management and institutional custody.
Corporate to bank payments and trade finance flows
The network enables efficient, transparent, and traceable corporate-to-bank payment transactions on a digital ledger.
Compliance solutions
XDC Network offers compliance solutions, including monitoring and tracing cryptocurrency activities, ensuring adherence to regulatory requirements.
Trade finance on XDC Network
The XDC Network aims to revolutionize the trade finance industry by providing a blockchain platform for efficient and accessible settlement of tokenized assets. It supports decentralized trade ecosystems, facilitating digitized supply chain processes, risk management, and improved access for small and medium enterprises (SMEs).
Affiliations
The network has partnered with organizations like the International Trade and Forfaiting Association (ITFA) and the Trade Finance Distribution Initiative (TFDi) to enhance liquidity and digitize trade documents.
Developers on XDC Network
The XDC Network is designed to be enterprise-ready while remaining accessible to developers. It offers a broad range of capabilities for innovative project development.
Capabilities for developers
Consensus mechanism
XDC Network utilizes the XDPoS consensus mechanism, which is efficient and suitable for enterprise applications.
EVM compatibility
As an EVM-compatible protocol, the network allows for seamless token minting and deployment.
Bridges and interoperability
XDC Network supports interoperability with other chains, enabling projects to connect with multiple chains.
Perks for developers
Developers benefit from low gas fees, fast transactions, and community support, making it easy to develop and migrate applications.
XinFin Delegated Proof of Stake (XDPoS)
XDPoS ensures the security of the XDC Network by offering energy-efficient consensus and resilience against spamming attacks. It includes on-chain forensics for detecting network threats.
Voting process
Staking
Users can stake tokens to participate in voting for validator selection.
Delegating
Staked tokens can be delegated to chosen validators, with delegation becoming active after a specified period.
Withdrawing
Delegated tokens can be withdrawn by revoking votes, with tokens unlocked after a waiting period.
Registering and choosing validators
Participants can become validators by meeting specific token requirements and KYC standards. Validators are selected based on their stake distribution and are responsible for block production.
Rewards and slashing
Validators and nominators earn rewards for participation. The network has measures to penalize misconduct by validators.
Masternodes
The network relies on Validator, Standby, and Archival Masternodes, which require staking and KYC compliance for operation.
XDC 2.0
XDPoS 2.0
XDC 2.0 proposes an upgrade to enhance network security and performance with advanced consensus protocols.
Hierarchical Delegated Proof of Stake (HDPoS)
HDPoS introduces a multi-tier validator structure to improve scalability and transaction throughput.
Cross-chain interoperability
The upgrade focuses on enabling seamless communication and value transfer across blockchain networks.
Enhanced security measures
XDC 2.0 incorporates a BFT committee to identify and handle malicious actors, promoting network security.
Governance mechanism
The updated governance process allows token holders to participate actively in network decisions and upgrades.
XDC Token
XDC tokens serve as the primary utility within the XinFin Hybrid Blockchain ecosystem.
Tokenomics
XDC supply
The total supply is influenced by pre-mining, minting, and burning, with 37.5 billion tokens initially pre-mined.
Initial supply
The pre-mined supply was held in the genesis wallet upon the mainnet's creation.
Mint
Masternode operators receive minting rewards for block creation, contributing to the network's inflationary pressure.
Burn
A portion of transaction fees is burned, leading to a deflationary effect on the token supply.
XDC allocation
Tokens are allocated to founders, ecosystem development, treasury, and pre-placement for exchanges and investors.
Token standards on XDC Network
The network supports various token standards to ensure seamless smart contract integration.
XRC20
XRC20 is the standard for fungible tokens, widely accepted within the ecosystem.
XRC721
XRC721 standardizes NFT development, enabling ownership and trading.
XRC1155
XRC1155 combines XRC20 and XRC721 functionalities, allowing for multiple tokens within a single contract.
XDC Network Improvement Proposal (XIP)
XIPs allow the community to propose new features and document design decisions, fostering collaboration and standardization within the network.
Partnerships
Protocol Lab
Partners specialize in enhancing network protocols and conducting security testing, including 4ireLabs, SotaTek, and others.
Infrastructure integration level developers
These partners focus on blockchain infrastructure integration, including Gitcoin.co, IoTrust, and more.
Application level developers
Developers build applications using smart contracts and middleware, with partners like Cordite Foundation and Chainlink.
Institutional & custodian partners
SBI Holdings is among the partners providing institutional and custodial solutions.