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About Wrapped XDC
Key Points:
- XDC Network is a hybrid blockchain platform combining public and private blockchain features.
- Founded in 2017 by Ritesh Kakkad, Atul Khekade, and Karan Bhardwaj.
- XDC Network is EVM-compatible, ISO 20022-compatible, and supports smart contracts.
- The platform can process 2000 transactions per second (TPS) and employs sharding.
- XDC token fuels transactional activities, smart contracts, and cross-border trade.
- Total supply: 37,705,012,699 XDC; Circulating supply: 13,828,679,553 XDC (as of April 202
About Wrapped XDC (WXDC): A Bridge to Interoperability
Introducing the XDC Network (XDC): A Comprehensive Overview
The XDC Network, formerly known as XinFin Network, is a pioneering hybrid blockchain platform that masterfully blends the transparency of public blockchains with the velocity and security of private networks. Leveraging cutting-edge blockchain technology and state-of-the-art infrastructure, this innovative project aims to deliver seamless and efficient financial services to its users.
The protocol’s open-source software leverages a delegated-Proof-of-Stake (XDPoS) consensus mechanism, thereby facilitating rapid transaction processing, seamless interoperability, and robust cybersecurity. Notably, the network is capable of handling an impressive 2000 transactions per second (TPS), while its interoperable smart contracts and Ethereum Virtual Machine (EVM) compatibility enable users to effortlessly scale their projects.
The Visionaries Behind the XDC Network: Meet the Founders
XinFin was established in 2017, with its headquarters situated in Singapore. The platform’s co-founders, comprising Ritesh Kakkad, Atul Khekade, and Karan Bhardwaj, spearheaded the venture. However, in 2018, Bhardwaj relinquished his role to dedicate more time to his own entrepreneurial pursuit, Elatior Tech.
Ritesh Kakkad is a visionary tech entrepreneur with a profound understanding of the blockchain ecosystem, boasting extensive experience in the industry. He holds a bachelor’s degree in commerce, accounting, and finance from the esteemed University of Mumbai in India. Prior to joining XinFin, he played a pivotal role in establishing IndSoft Systems, a pioneering solutions and application development firm.
Atul Khekade, a seasoned computer engineer and programmer, has a proven track record of founding innovative technology companies and providing crucial funding for emerging platforms on XDC. Notably, he played a pivotal role in the development of MonetaGo, a pioneering financial technology firm dedicated to combating online fraud. Additionally, he was instrumental in the creation of Airnetz, a hybrid online-offline travel agency. Holding a degree in IT from India’s esteemed Sardar Patel College of Engineering, Atul’s impressive credentials underscore his technical expertise.
Unveiling the Unparalleled Attributes of XDC Network (XDC)
The XDC Network is an EVM-compatible, layer 1 blockchain that seamlessly integrates with the global payment messaging standard, ISO 20022, thereby providing a convenient platform for developers and financial institutions to build innovative applications. Furthermore, the platform has launched the XDCPay app, a user-friendly web extension compatible with popular browsers, which aims to streamline the user experience for investors and businesses alike.
XDC seeks to overcome the shortcomings of pioneering blockchain networks, namely, limited network bandwidth, exorbitant fees, and a subpar experience for developers. Furthermore, the platform’s support for smart contracts empowers developers to build innovative applications and protocols directly on the blockchain.
Notably, it facilitates the deployment of layer 2 digital assets through Origin, while leveraging sharding technology to accelerate transaction processing, achieving an impressive throughput of over 2000 transactions per second.
The platform constitutes an open-source, hybrid blockchain ecosystem tailored to facilitate global trade and finance. Leveraging its innovative hybrid design, XDC seamlessly interacts with both public and private blockchain networks. The system features hybrid relay bridges that efficiently retransmit transactions into the public network, ensuring a seamless and secure experience.
What Is the Circulating Supply of XDC Network (XDC) Coins?
The blockchain’s native token, XDC, serves as the lifeblood of the network, facilitating transactional activities and smart contracts, while also enabling seamless cross-border trade. As the ecosystem’s driving force, it doubles as a payment and settlement medium, lubricating the entire system.
To facilitate transactions and settle gas fees on the XDC network, users require XDC tokens. By staking their tokens, they can participate in the validation process, thereby contributing to the network’s security, and in return, receive XDC rewards. Moreover, decentralized applications (dApps) built on the platform leverage XDC as a utility token, further underscoring its integral role in the ecosystem.
XDC boasts a total supply of 37,705,012,699 coins, with a circulating supply of 13,828,679,553 coins as of April 2023. The token distribution is allocated as follows: 32.5% is reserved for rewards for network participants; 25% is allocated to the team; 15% is dedicated to the ecosystem; 10% is assigned to the hedge pool; 10% is designated for pre-placement and token offering; 5% is earmarked for charitable causes; and 2.5% is set aside for reserves.
The XDC Network’s Robust Security Framework: A Deeper Dive
The XDC Network (XDC) is fortified by an environmentally conscious and highly efficient dPoS consensus algorithm, XinFin Delegated Proof-of-Stake (XDPoS), which boasts unparalleled security and efficiency. By harnessing the node mechanism, XDPoS facilitates the rapid production of blocks, rendering it a more advanced and secure alternative to other algorithms. Furthermore, this innovative algorithm incorporates a self-KYC feature and implements KYC protocols on nodes, ensuring an additional layer of security and accountability.
Acquiring XDC Network (XDC): A Comprehensive Guide to Exchanges and Marketplaces
XDC is accessible via a diverse range of prominent cryptocurrency exchanges, including KuCoin, Bitfinex, Huobi, Bybit, Bittrex, Gate.io, ProBit Global, Bitget, CoinEx, Indodax, CoinDCX, CEX.IO, and Bitrue.
Stay ahead of the curve with the CMC mobile app, where you can monitor the real-time price fluctuations of XDC with precision and ease.
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Delve into the world of XinFin: A Comprehensive Exploration with CMC Alexandria.