Markets->XDC Network

XDC NetworkXDC Network PriceXDC

$0.02,355,563+2.32%(24h)

Market Statistics

Market Cap$289.85M
24h Volume$5.29M
Circulating Amount$37.71B
Price Change (1h)+0.62%
Price Change (24h)+2.32%
Price Change (7 days)-21.16%

About XDC Network (XDC)

The XDC Network (formerly called XinFin Network) is an enterprise-grade, EVM-compatible, hybrid blockchain, equipped with public and private states and interoperable smart contracts. A highly optimized, bespoke fork of Ethereum and J.P. Morgan’s (now ConsenSys’s) Quorum, the XDC Network reaches consensus through a delegated proof-of-stake (dPoS) mechanism, which allows for two-second transaction time, near zero gas fees, and over 2,000 transactions per second (TPS).

While the consensus mechanism is proof-of-stake—and thus uses virtually no energy—validators have to perform a small proof-of-work (PoW) when proposing a new block, which makes the network highly resistant to spamming.

XDC is the fuel powering transactions and smart contracts on the XDC Network. At the same time, because users must stake their XDC to run validators and participate in block generation, it ensures that the network remains safe and secure.

 

What Makes the XDC Network Unique?

The XDC Network was the first and only blockchain invited to join the Trade Finance Distribution Initiative (TFDi), a consortium of the world’s leading banks and non-bank financial institutions established for the purpose of bridging the $1.7 trillion trade finance gap. It was also invited to join the ITFA’s Digital Negotiable Instruments Initiative (DNI). Together with its partner Tradeteq, XDC Network was responsible for the world’s first trade finance-based non-fungible token (NFT) transaction in late 2021. Going forward, in partnership with Tradeteq and other members of the TFDi, XDC Network is positioned to roll out a suite of trade finance-based products which will make trade finance assets widely accessible to capital markets while enabling finance-starved SMEs to finally gain access to the financing they need.

While the XDC Network was purpose-built to be enterprise-ready—it’s an enterprise-ready blockchain for everyone. An EVM-compatible, Layer 1 protocol, the XDC Network allows for seamless deployment of Layer 2 tokens via Origin, a no-code tokenization dApp, and through a number of other developer-friendly network tools. The ecosystem has grown by leaps and bounds over the past year across the board, adding over 900,000 accounts, over 100 masternodes, and over 4,000 smart contracts between 2021 and 2022. As the ecosystem has expanded, the number of Layer 2 projects built on-chain—devoted to the metaverse, to NFTs, to decentralized cloud storage, to decentralized exchanges, and everything in between—has grown exponentially, as well.

 

How Is the XDC Network Secured?

XDC Network relies on a delegated proof-of-stake mechanism, titled XinFin Delegated Proof of Stake (XDPoS) to reach consensus, in which validators have to perform a small amount of proof-of-work (PoW) when proposing a new block. This unique consensus mechanism ensures the network uses virtually zero energy and is highly resistant to spamming.

A proposed forensics-enabled consensus mechanism (termed XDPoS 2.0) is built upon the most advanced BFT consensus protocol and will equip the XDC Network with military-grade security and performance, greatly conserve resources, and be fully backwards-compatible in terms of APIs.

XDPoS 2.0 builds off of the original XDPoS consensus mechanism by introducing a BFT committee, which is a set of masternodes selected using a deterministic and verifiable algorithm at the beginning of each epoch. They aim at reaching consensus using the state-of-the-art BFT protocol (chained-Hotstuff) and have the ability to identify malicious actors with cryptographically provable forensic evidence.

The holistic integration of accountability and forensics within the blockchain positions XDC Network as a uniquely secure and monitored blockchain protocol.

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