What you need to know about XDC network (XDC)

Related Topics

Facebook
Twitter
LinkedIn
WhatsApp

If we look at the history of technology, we’ll notice that it’s layered, with each layer building on the work of the one before it. The same can be said of blockchain technology and cryptocurrency; the first was bitcoin, which had a novel idea of a decentralized network using cryptography and blockchains to build a new type of digital finance that aimed to revolutionize the modern system as we know it, but it had issues, most notably mining and scalability issues. Then came Ethereum, the market’s Queen, who presented its own framework for dealing with challenges that bitcoin couldn’t solve. However, even Ethereum was unable to solve the scalability issues as well as the crowded traffic. This caused transactions to charge extremely high gas prices. XDC aims to solve the problems.

But, based on the pattern, something should happen next. Something that can build on the success of the previous one. And, while there are a plethora of cryptocurrencies claiming to be the next Ethereum. With all aiming to replace the market’s Kings and Queens. One coin that we must investigate is the XDC coin by the XDC network.

XinFin (eXchange inFinite)

The XinFin (eXchange InFinite), which is powered by the XDC network, uses a Delegated Proof-of-Stake Consensus network (XDPoS), which enables Hybrid Relay Bridges with low energy consumption, instant block finality for faster transactions, and interoperability to make XinFin’s Hybrid Architecture Developer friendly.

Aside from that, there’s the smart contract technology that XinFin borrowed from Ethereum. However, they are mainly done through oracles, which rarely produce beneficial results. The Oracle Platform Plugin, which is based on ‘PLI,’ a token built on XinFin’s XRC 20 standard to reduce GAS fees, aggregates sources from multiple oracles and consolidates them to arrive at an accurate value. As a result, smart contracts become less troublesome.

Current Price Movement

At the time of writing, the current value of the XDC coin is $0.0968. It has a trading volume of $20 million. Investors believe that Ethereum smart contracts are the way of the future. With Ethereum 2.0 coming out shortly, there is no reason to invest in the “so-called” third generation. However, it has increased in value from $0.0059 to $0.18 in the last year. With a constant expansion in its ecosystem and other advancements, one can never be too sure where this David will end up.

Leave a Comment

Your email address will not be published.

Latest Posts