Xinfin Network (XDC) is a hybrid blockchain platform designed to modernize the global trade and finance sector. It combines the benefits of public and private blockchains, offering a highly scalable, secure, and efficient decentralized infrastructure solution. The network supports smart contracts, processes 2000 transactions per second at low fees, and has almost instant transaction confirmation. XDC is the native token used to power transactions and provide access to exclusive features and services. The platform is designed to bridge the gap in global infrastructure financing by connecting investors and developers in a secure environment, facilitating peer-to-peer financing and asset tokenization.
XinFin Network (XDC) is a hybrid blockchain that combines the advantages of public and private blockchains, focusing on the trade finance space. It is designed to provide a scalable, secure, and interoperable platform for global trade and finance, enabling digitization, tokenization, and instant settlement of trade transactions. Here are some key ways XinFin Network is used:
Trade Finance: XinFin Network is used to digitize and tokenize diverse trade finance instruments and assets, increasing efficiency and reducing reliance on complex FX infrastructures. This allows for better liquidity management for financial institutions.
Institutional Investment: The network is primarily marketed towards large financial institutions seeking to incorporate asset tokenization into their business models. It provides a regulatory-approved and KYC-integrated network for decentralized operations.
Decentralized Applications (DApps): XinFin Network supports the development of DApps, which can be sold on the network's market. Developers can create and deploy applications using the network's tools and infrastructure.
Decentralized Oracle: Users can set up decentralized oracle networks on XinFin, enabling off-chain sensors to communicate data to and from blockchain networks. This expands the use case scenarios for blockchain technology.
Cross-Chain Swaps: XinFin Network is working towards supporting cross-chain swaps, allowing for seamless transactions across different blockchain networks.
Consensus Mechanism: XinFin uses a proprietary consensus mechanism called XinFin Delegated Proof-of-Stake (XDPoS), which is more energy-efficient and computationally efficient compared to traditional DPoS. This ensures high performance and fast block times.
- Validator Network: Validators on the XinFin network are responsible for securing the blockchain. To become a Validator, one needs to lock 10 million XDC tokens and attach KYC information to their node, ensuring that only invested parties handle vital network tasks.
Overall, XinFin Network is designed to provide a robust and efficient platform for various applications in trade finance, institutional investment, and decentralized technologies.
To store XinFin Network (XDC) tokens, you can use the following wallets:
- XinFin Web Wallet: This wallet supports XDC and XRC20 tokens. It is recommended to use the Keystore file option for added security.
- XDC Android Wallet: This mobile wallet is designed specifically for Android devices and supports mainnet XDC tokens.
- Guarda Wallet: This wallet is available on multiple platforms, including iOS, and supports XDC and XRC20 tokens. It is also suitable for managing other tokens.
- XDCPay: This is a browser extension similar to MetaMask, allowing you to store and manage your XDC tokens within your browser.
- Hardware Wallets: Compatible hardware wallets include Trezor, Ellipal, D'Cent, and BitFi, which provide an additional layer of security for storing your XDC tokens.
These wallets provide a secure and convenient way to manage your XDC tokens.
To buy XinFin Network (XDC) tokens, follow these steps:
Choose a Cryptocurrency Exchange: Select a reliable exchange that supports XDC trading. Compare exchanges based on features like fees, ease of use, and customer support. Some popular options include KuCoin, Bybit, gate.io, MEXC, and Bitfinex.
Create an Account: Verify your email address and identity by providing photo identification. This process typically takes a few minutes.
Make a Deposit: Fund your account using a payment method that suits you, such as a bank transfer, credit or debit card, or transferring cryptocurrency from another exchange or wallet.
Buy XDC: Use your deposited funds to purchase XDC. On beginner-friendly exchanges, this involves entering the desired amount and clicking "buy".
Secure Your XDC: Consider transferring your XDC to a personal crypto wallet to protect against exchange-related risks like hacks, scams, or platform bankruptcy.
Additionally, Uphold is a popular exchange for buying XDC, especially for new traders, but it is not available to Germany and Netherlands residents.
