XDC Network (XDC): 2-Sec Crypto Transfers Made Easy!
XDC Network functions as a hybrid blockchain, enabling cross-chain interaction, instant transactions, and tokenization. It boasts a market capitalization exceeding $450 million, with 37.7 billion tokens in supply.
The XDC Network is a dual-natured decentralized framework powered by the entrusted Proof-of-Stake model (a.k.a. XDPoS). The all-encompassing agreement method enables the framework to build and uphold dual-nature relay bridges, facilitate cross-chain collaboration for blockchain parties, and ensure instantaneous block conclusiveness. Despite the complex model, the network is business-friendly and can be employed in various blockchain-enabled industry areas.
The XDC Network provides ecosystem participants with instant trading transactions, tokenization, and digitization.
XDC Coin Utility
The enterprise-grade protocol has a native XDC token. The token has a utility nature and is a fundamental element in the XDC hybrid blockchain. The most critical function of the token is to fuel dApp dealings created on the XDC combined blockchain. The token is listed on top crypto exchanges, including Huobi Bitfinex, CoinEx, CoinDCX, Bitget, CEX.IO, KuCoin, Indodax, Bybit, Gate.io, Bitrue, ProBit Global, and Bittrex.
According to Coinmarketcap, XDC token key indicators as of June 12, 2023, are as follows:
- Token name: XDC
- XDC price: $0.03253
- Technology: ERC-20
- Fully diluted market cap: $1,226,412,565
- Market cap: $450,256,248
- Volume (24h): $3,156,096
- Total supply: 37,705,012,699 XDC
- Circulating supply: 13,842,745,939 XDC
The universal architecture of the XDC Network allows the use of XDC tokens in various business fields, aiding medium and small companies in creating their own blockchain tools. It is an excellent opportunity for businesses to allocate funds between traditional financial organizations and digital sponsors using a well-thought-out distribution mechanism.
XDC Network Origins
Ritesh Kakkad and Atul Khekade are the forerunners of the network, released in 2017. From the first day of its existence, the project focused on implementing its architecture in the decentralized finance sector and natural business environment.
Currently, the scalable, secure, and highly efficient blockchain is managed by the XDC Foundation. This non-profit organization cares about developing, improving, and accelerating network adaptation for real-world use cases.
How Does XDC Network Work?
The first thing to clarify regarding the network is that it is fully EVM-compatible. In other words, IT engineers can create various applications using tools that support Ethereum on XDC. Specifically, this primarily pertains to the essential tools utilized in the development of decentralized applications (dApps) on the Ethereum platform:
- Frameworks
- Protocols
- Programming languages
One way or another, Ethereum is the most prominent blockchain for developing advanced dApps. For this reason, most blockchain architects can create new applications and program them according to Ethereum rules. More importantly, developers can easily port newly created Ethereum applications to XDC in the blink of an eye.
XDC Network Funding
The project ingrained many prominent backers even before the start of the investment race. As a result, XDC raised $37.6 million in funding through two investment rounds. The last round of funding, Venture Series Unknown, occurred in January 2010.
According to the official line, the protocol is funded by six big investors, while BIP Investment Partners and Vivium Life Private Equity are the latest to jump in.
XDC Network Roadmap
After the project implemented the critical concepts in 2021, the leadership and protocol developers concentrated on reaching the following milestones:
- Q2 2022: Security. Highest protection against adversaries with the highest Byzantine-fault-tolerance guarantee.
- Q3 2022: Forensics. Immediate detection of adversaries and provable slashing.
- Q4 2022: Governance. Enhance network liveliness and overall management.
- Q1 2023: XDPoS2.0 mainnet ready. XDPoS2.0 was thoroughly tested. Ready for mainnet launch.
- Q2 2023: Scalability Design. Evolve XDC to host many more applications while maintaining high availability and serviceability.
Scaling is a strategic path the company aims to implement in the second half of 2023. The mainnet launch and the innovation of new applications are believed to improve serviceability and land even more customers.
XDC Network Tokenomics Details
XDC Network held an ICO in March 2018 and raised around $14 million in the presale of 10% XDC tokens. Meanwhile, the tokenomics of the project and XDC token distribution are as follows:
- Rewards for network participants - 32.5%
- Team - 25%
- Ecosystem - 15%
- Pre-placement and token offering - 10%
- Hedgepool - 10%
- Charities - 5%
- Reserves - 2.5%
Pay attention to the number of tokens that the organization has reserved for network players' awards - 35%! It looks like the initiatives of the ecosystem parties will be generously rewarded as the protocol develops and adapts in the coming years.
