Exploring the XinFin Network blockchain and the XDC Token

XinFin Network is an enterprise—class hybrid blockchain solution. The XDC protocol, based on the native XDC token, uses the Public XDPoS consensus mechanism to verify transactions.

Combining the best elements of both public and private blockchains, as well as the functionality of smart contracts, the project optimizes business practices and promotes the introduction of blockchain technology. Moreover, XinFin is at the forefront of a new economic paradigm where businesses, governments and institutions use blockchain-based tools and services.

In this article, we will delve into the XDC protocol and the XinFin network. We will also discuss the XDC token, the XDPoS public consensus model, and various features that the Danan ecosystem can offer.

What is the XinFin network?
Background
XDC Protocol
What is a hybrid blockchain?
Public Consensus XDPoS XinFin (XDC)
XDC Token
XinFin Masternodes
XinPay: XinFin Wallet
XinFin Remix
XDC Ecosystem Co-Builder Plan
XinFin Bonus Program
Results

What is the XinFin network?
XinFin literally means "infinity of exchange" and is a hybrid blockchain company of a new generation, uniting communities and enterprises around the world. The native XinFin Digital Contracts coin, also known as the XCD token, supports the XinFin network.

xinfin network

XinFin Network combines the power and transparency of public blockchains with the speed and security of private blockchains and an authorized, energy-efficient Delegated Share Confirmation (XDPoS) consensus mechanism.

In addition, XinFin Network provides interconnection using hybrid relay bridges and ISO20022 messaging standards. This makes XinFin Network a universal and convenient platform for developers.

Background
The XinFin Network team is a non—profit organization called the XINFIN Foundation. The XINFIN Foundation aims to lay the global foundations of blockchain infrastructure to eliminate friction in international payment systems and create enterprise-scale solutions based on digital assets managed by the community.

The XINFIN Foundation works with international governments and businesses to help create new scalable blockchain-based infrastructures. In addition, XinFin allows investors to bid on various infrastructure projects, connecting developers with investors for more efficient financing of blockchain projects.

XDC Protocol
The XDC protocol serves as the messaging and confirmation layer for payments. In addition, the XDC protocol supports smart contracts and integration with the Internet of Things (IoT). Being a highly scalable hybrid enterprise-level block chain, the XDC protocol boasts a throughput of 2,000 transactions per second (TPS) and almost instantaneous transaction completion.

The XinFin Digital Contract (XDC Chain) uses a Delegated Proof of Stake (XDPoS) consensus mechanism for global trade and finance. The XDC protocol provides tokenization and digitization of assets, while reducing the need for complex foreign exchange infrastructures. In turn, this creates a flexible environment for managing financial institutions.

What is a hybrid blockchain?
Hybrid blockchain combines the best elements of both public and private blockchains to create customized solutions. Hybrid blockchain solutions are becoming increasingly popular among businesses, governments and international organizations across the sector due to the security and transparency they can offer.

xinfin hybrid blockchain

Hybrid blockchains are not open to everyone. This is the main feature of private blockchains. However, many hybrid blockchains also use elements of public blockchains to increase their transparency and security.

In addition, hybrid blockchain operators can choose participants and decide which types of transactions can be public and which can be private. These blockchain solutions are often highly configurable and immune to 51% attacks outside of the permitted network.

Companies benefit from hybrid blockchains in several ways. For example, using a hybrid blockchain in a closed system can significantly increase data security. This significantly reduces the likelihood of confidential data leakage.

Another advantage of hybrid blockchains is that they can minimize transaction costs. Generally speaking, small networks with fewer nodes can facilitate micropayments because it requires fewer resources than larger public blockchains. This means that small, high-frequency transactions can have a commission of less than 0.01 USD per transaction.

Public Consensus XDPoS XinFin (XDC)
The XinFin hybrid blockchain (XDC) uses the "XDPos public consensus", a Proof-of-Stake delegated consensus mechanism. The XDPoS public consensus model is based on voting to select a pool of validators or delegates.

Validators (or delegators) verify transactions and protect the hybrid blockchain network, ensuring that the network produces only legitimate transaction blocks before they are broadcast over the network. In addition, validators take care of any unforeseen problems that arise in the XDC network.

In addition, the XDPoS public consensus model solves four main problems associated with public blockchains. Firstly, the publicly available XDPoS consensus is highly energy efficient and uses about 1/10 of the energy needed for Bitcoin and other Proof-of-Work (PoW) consensus models.

Secondly, Public XDPoS Consensus provides ultra-low transaction fees, which makes it ideal for any micropayments. Third, Public XDPoS Consensus increases scalability with high throughput. And the "Self-KYC" function, in turn, allows corporate clients to maintain compliance with regulatory requirements by managing permissions and identification without any problems.

In addition, XinFin Public XDPoS Consensus is an environmentally safe and democratic model that reduces the entry barrier for participants, eliminating the need for expensive mining equipment or excessive energy consumption.

XDC Token
The XDC token is used as a payment and settlement layer by financial institutions and decentralized applications (dApps) built on XinFin. The XDC token provides access to financial services that help small and medium-sized businesses integrate the XDC protocol.

xdc token

Several applications and services use the XDC token. These include the TradeFinex peer-to-peer trading platform, the MyContract digital asset management service, as well as a number of educational institutions, financial services, banks and technology companies. In addition, the XDC token is used to manage land registry records, online billing and much more.

According to CoinGecko, at the time of writing, the XDC token is trading at about $0.14, with a market capitalization of $1.8 billion. The XDC token replaced the XDCe token compatible with ERC-20, which is currently no longer in use.

XinFin Masternodes
The XinFin Network Public XDPoS consensus model uses nodes and validators instead of miners. While Proof-of-work (PoW) miners require large computing power and resources, the XinFin Public XDPoS Consensus model is an environmentally safe and sustainable mechanism.

XinFin uses validation nodes and masternodes to protect its networks. Validators accept or reject transactions before they are added to the block chain by masternodes. In addition, each validator must create a unique list of nodes (UNL) to store information about the nodes with which it regularly interacts.

Masternodes are necessary for the stability and self-sufficiency of the XDC protocol. Each masternode must be publicly identifiable and undergo KYC and other compliance processes. The main functions of masternodes are the addition of transaction blocks to the blockchain and the promotion of decentralized governance.

To set up the XinFin masternode, participants must supply 10 million XDC tokens and ensure 100% network operability. In addition, there are several restrictions for masternodes to act honestly and in the interests of the network.

Any legal entity or individual who does not comply with the rules or has an unscrupulous past cannot claim the status of a "masternode". In addition, XinFin masternodes can receive passive income by receiving a reward for staking.

XinPay: XinFin Wallet
XinPay is the newest XinFin wallet for storing, sending and receiving XDC tokens. With XinPay, users can also interact with decentralized applications (dApps) directly from a web browser.

xinfin wallet

XinPay comes with a mnemonic phrase for safely backing up funds. The XinPay XinFin wallet is available for download for Chrome, Brave, Firefox and Opera.

XinFin Remix
XinFin Remix, officially known as "Browser Solidity", is an integrated web browser development environment (IDE) that allows users to write, deploy and execute smart contracts using the Solidity programming language.

Developers can run XinFin Remix together with the XinFin node client from the same local computer and exchange data using the XinFin Application Programming Interface (API). In addition, they can execute smart contracts in XinFin Remix.

XDC Ecosystem Co-Builder Plan
The XDC Ecosystem Co-Builder plan helps fund new projects based on the XDC network. In addition, it supports and promotes the creation and promotion of decentralized applications (dApps) based on XDC. Any promising project can ask for help in financing, marketing and technical support.

XinFin Bonus Program
The XinFin Bounty program allows the XDC protocol community to receive rewards for improving the ecosystem. Through a series of bug-finding events and online hackathons, the XinFin community strives to optimize and protect the XDC protocol, as well as various enterprises and applications using XinFin technology.

Results
The XinFin network and the XDC protocol pave the way for the adoption of corporate blockchains. By introducing hybrid blockchain services, the XDC network can fundamentally change the way business is conducted.

In addition, thanks to the XDC protocol and the Public XDPoS consensus mechanism, XinFin combines the best elements of public and private blockchains with the functions of smart contracts. XinFin allows businesses and developers to easily use a number of blockchain-based tools and services.

Focusing on regulatory compliance and user security, XinFin offers ready-to-use hybrid blockchain solutions that can revolutionize global trade and finance.