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XDC Network news
About XDC Network
What Is XDC Network (XDC)?
The XDC Network is a blockchain developed to support trade finance and the tokenization of RWAs. A highly optimized, EVM-compatible Layer 1 blockchain, XDC Network reaches consensus through a delegated proof-of-stake (dPoS) mechanism, which allows for a transaction time of mere seconds, near zero gas fees, and a high number of transactions per second (TPS).
Secure, scalable, and highly efficient, the XDC Network powers a wide range of novel blockchain use cases and provides state-of-the-art infrastructure for enterprise-grade blockchain applications. With architecture that enables the creation of sovereign sub-networks, XDC Network is uniquely equipped to support those who require dedicated blockchain environments for enhanced permissions and control, such as government agencies, financial institutions, and businesses.
As of April 25, 2024, there are 312 XDC Network validator masternode candidates, of which 108 actively operate as validator masternodes, and the remainder are standby masternodes. Each masternode operator is required to stake 10M XDC.
A forthcoming upgrade to the consensus mechanism, dubbed XDC 2.0, is currently running on testnet. It and subsequent iterations of the XDC Network protocol will further enhance the security of the consensus mechanism and incorporate a novel "judiciary branch" into the consensus mechanism.
Developed by Princeton University's Pramod Viswanath, Hash Laboratories' Fisher Yu, and their team, XDC 2.0’s cutting-edge compliance technology will ensure unprecedented Byzantine fault tolerance (BFT) by holding validators accountable for their actions on an automated yet discretionary basis.
Who Are the Founders of XDC Network?
XinFin, a Singapore-based fintech company providing enterprise-grade blockchain solutions for international trade and finance, was established in 2017 by Ritesh Kakkad and Atul Khekade. XinFin launched the XDC Network. The XDC mainnet went live in 2019.
Kakkad is a serial tech entrepreneur with decades of experience in cloud computing. Khekade, a computer engineer by training, played the leading role at MonetaGo in creating the first permissioned blockchain network for a consortium of the most prominent Asian banks.
Kakkad and Khekade set out to build an enterprise-ready blockchain uniquely suited to liquifying global trade finance. With that overarching goal in mind, they joined forces with André Casterman, who, after spending 20+ years at SWIFT, now serves in a prominent leadership role for the XDC Network and drives innovation by shepherding various network use cases across traditional finance.
What Makes XDC Network (XDC) Unique?
The XDC Network sets itself apart through its community of participants who make ongoing contributions to its position within the Real World Assets (RWA) and Trade Finance industries.
Notably, XDC Network was the first and only blockchain invited to join the Trade Finance Distribution Initiative (TFDi), a consortium of the world's leading banks and non-bank financial institutions established to bridge the $5 trillion trade finance gap. It was also invited to join the ITFA's Digital Negotiable Instruments Initiative (DNI). Tradeteq was responsible for the world's first trade finance-based non-fungible token (NFT) issuance on the XDC Network in late 2021. In 2023, through the efforts of Tradeteq and Securitize, the XDC Network rolled out its first compliant U.S. Treasury token, USTY, representing blockchain-based versions of shares in a U.S. Treasury bond exchange-traded fund (ETF).
Additional contributions of note include those of SBI Holdings, which entered into a joint venture with TradeFinex to expand XDC Network use cases in global economic activities, particularly in trade finance and cross-border payments. TradeTrust, a platform developed by the IMDA in Singapore, also leverages the XDC Network to bring advanced document authentication through a framework that complies with the Model Law on Electronic Transferable Records (MLETR) to enhance the security, transparency, and efficiency of cross-border transactions.
Going forward, XDC Network is positioned to support a suite of RWA products that will make trade finance assets widely accessible to capital markets while enabling finance-starved MSMEs to access the financing they need.
Various teams supporting and utilizing the XDC Network posit that trade finance is the definitive use case for blockchain technology and that public blockchain networks, like the XDC Network, are the vehicle for industry transformation.
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The live XDC Network price today is $0.026391 USD with a 24-hour trading volume of $4,364,622 USD. We update our XDC to USD price in real-time. XDC Network is up 0.89% in the last 24 hours. The current CoinMarketCap ranking is #124, with a live market cap of $393,825,531 USD. It has a circulating supply of 14,922,679,926 XDC coins and the max. supply is not available.
If you would like to know where to buy XDC Network at the current rate, the top cryptocurrency exchanges for trading in XDC Network stock are currently LBank, Bybit, DigiFinex, Bitget, and CoinW. You can find others listed on our crypto exchanges page.