What is XDC Network (XDC)?
XDC Network comprises part of the XinFin platform and operates as a “hybrid blockchain”. It is geared toward the global trade and finance industries and aims to connect public and private blockchains together with interoperable smart contracts. Decentralized applications and protocols can be built on the network that facilitates token issuance and token integration. It also seeks to offer low fees, fast transaction confirmation times, double validation, and randomization to guarantee fairness.
XDC is the platform’s native cryptocurrency. It has a total supply of 37,774,071,193 tokens and is used as a utility token that powers the XinFin blockchain. XDC is used as a payment settlement for decentralized applications built on the network’s blockchain.
What are XDC Network’s key features and how does it work?
The XDC blockchain uses a consensus mechanism known as XinFin Delegated Proof-of-Stake (XDPoS) in order to provide high levels of security. The mechanism relies on 108 masternodes to secure the network. In order to become a masternode participants must deposit 10,000,000 XDC.
The unique mechanism includes double validation technology for added security, randomization for improved fairness, and fast confirmation times. When a block is created by a masternode it must be verified by another randomly selected masternode. It can then be added to the XDC blockchain.
Some key features of the XinFin XDC blockchain include:
- Support for all EVM-compatible smart contracts;
- Cross-chain atomic swaps
What is noteworthy about XDC Network?
The XinFin project has developed several products which complement the XDC Network. This includes:
- XinFinScan - Users can view blocks, transactions, and smart contracts, as well as token information related to the XDC network.
- XinFinMaster - A dashboard for viewing Masternode performance statistics and other information related to masternodes.
- Xdcwallet - Wallet for storing, sending, and receiving any tokens issued on the XDC Network.
What can XDC Network be used for?
In more detail, the XDC token is used as a unit of exchange within the entire XinFin ecosystem. Applications can be built by developers on the network to leverage the platform’s functionalities and tokens. Examples of applications include ChainFiles, an online notarization platform, and Crypterium, a wallet built for traditional and digital assets. It is worth noting that XinFin has launched an ERC20 token, XDCE, which can be swapped with XDC at a 1:1 ratio. This means that users can hold tokens on either network, expanding the potential use cases to the Ethereum network. In addition, since the XDC blockchain is EVM-compatible, apps can easily be ported from Ethereum into the XDC environment.
Where can you buy XDC?
XDC is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Huobi Global, Gate.io, and KuCoin. The price of XDC will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for XDC market prices, please view the price charts on this page.
How to Buy XDC on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing XDC. Some reputable platforms include HTX、Bybit、Bitget, and others.
Step 2: Register an Account
Here, we'll register an account on theBybit(registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing XDC.
Step 5: Purchase XDC
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of XDC you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy XDC.
Step 6: Store Your XDC
After purchasing, you can choose to store your XDC in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and XDC assets, be sure to use a strong password and enable two-factor authentication.
XDC Price:The XDC Network is a blockchain developed to support trade finance and the tokenization of RWAs. The price fluctuates daily, You can go to the exchange: Bybit to check the price.
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