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Wrapped XDC represents the native token of a hybrid blockchain platform merging public and private systems. Founded by Ritesh Kakkad and Atul Khekade, the network uses delegated-Proof-of-Stake consensus to support fast transactions and EVM compatibility. It aims to facilitate efficient financial services, with a total supply of 37,705,012,699 coins recorded as of April 2023.
XDC Network, previously called XinFin Network, operates as a hybrid blockchain platform merging public and private systems. It blends the openness of public chains with the rapid performance and safety features of private networks. By leveraging blockchain tech and modern infrastructure, the project aims to deliver efficient financial services to its user base.
Its open-source protocol relies on a delegated-Proof-of-Stake (XDPoS) consensus model, which supports quick transaction speeds, interoperability, and strong cybersecurity measures. The network handles 2000 transactions per second (TPS). Furthermore, compatibility with the Ethereum Virtual Machine (EVM) and interoperable smart contracts allows users to scale their projects more easily.
Established in 2017 and headquartered in Singapore, XinFin was created by Ritesh Kakkad, Atul Khekade, and Karan Bhardwaj. In 2018, Bhardwaj stepped down to focus on his personal venture, Elatior Tech.
Kakkad is a technology entrepreneur with significant background in the blockchain sector. He holds a bachelor’s degree in commerce, accounting, and finance from the University of Mumbai in India. Prior to his role at XinFin, he co-founded IndSoft Systems, a company specializing in application development and solutions.
Khekade is an accomplished computer engineer and programmer who launches new tech firms and funds emerging projects on the XDC network. He played a key role in building MonetaGo, a fintech company dedicated to fighting online fraud, as well as Airnetz, a hybrid travel agency operating both online and offline. He earned an IT degree from Sardar Patel College of Engineering in India.
The XDC Network operates as an EVM-compatible layer 1 blockchain that aligns with the ISO 20022 global payment messaging standard, offering a practical foundation for financial institutions and developers to create applications. To enhance usability for businesses and investors, the platform introduced XDCPay, a web extension compatible with several major browsers that aims to streamline the user experience.
XDC seeks to resolve issues prevalent in earlier blockchain systems, such as limited network bandwidth, excessive fees, and subpar developer conditions. By supporting smart contracts, it enables the construction of various protocols and apps on its chain. The network utilizes sharding to accelerate transaction processing, achieving speeds of over 2000 transactions per second, and facilitates the deployment of layer 2 digital assets through Origin.
As an open-source hybrid blockchain designed for global finance and trade, XDC connects with both private and public blockchains. Its architecture includes hybrid relay bridges that forward transactions into the public network.
XDC serves as the native token for its blockchain, driving smart contracts, transactions, and cross-border trade while acting as the ecosystem’s payment and settlement layer. Users require XDC to cover gas fees and process transactions. By staking tokens to help secure the network and process transactions, participants can earn XDC rewards. The token also functions as a utility asset for decentralized applications (dApps) built on the platform.
As of April 2023, XDC has a total supply of 37,705,012,699 coins, with a circulating supply of 13,828,679,553 coins. The distribution breakdown is:
The XDC Network (XDC) relies on XinFin delegated Proof-of-Stake (XDPoS), an eco-friendly and highly efficient dPoS consensus algorithm, for its security. This method is considered more secure and advanced than alternative algorithms because it utilizes a node mechanism to generate blocks with greater efficiency. Additionally, the algorithm incorporates a self-KYC feature and enforces KYC implementation on its nodes.
You can purchase XDC on exchanges including KuCoin, Bitfinex, Huobi, Bybit, Bittrex, Gate.io, ProBit Global, Bitget, CoinEx, Indodax, CoinDCX, CEX.IO and Bitrue.