XDC Network (XDC)
- Category: Ethereum Ecosystem
- Coin Launched: December, 2021
- Resources: White Paper
- Official Website: XDC Network
- Reddit: XDC Network
About XDC Network
XDC Network is the native cryptocurrency of the BAYC ecosystem. It’s designed to be the decentralized protocol layer for various initiatives that are supposed to be led by the community. It’s built on Ethereum’s ERC-20 token standard, and its address can be found here. The cryptocurrency is traded on some of the biggest exchanges, such as Binance, FTX, Huobi, KuCoin, Bybit, Kraken
XDC Network History / Information / Buying / Staking
XDC NETWORK HISTORY
The XDC Network was founded in 2019 by Ritesh Kakkad and Atul Khekade. Kakkad was a serial tech entrepreneur with decades of experience in the field of cloud computing. Khekade, a computer engineer by training, played the leading role at MonetaGo in the creation of 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 the task of liquifying global trade finance.
HOW XDC NETWORK WORKS
The XDC Network is a hybrid blockchain that functions on the basis of delegated proof-of-stake (XDPoS) consensus mechanism. With the XDPoS, the XDC Network enables hybrid relay bridges, spontaneous block finality and interoperability for the blockchain users.
BENEFITS OF USING XDC NETWORK
Some of the benefits of using XDC Network are:
XDC Network’s XDPoS functions in a fully democratic manner. It has the capability to carry out horizontal scaling by adding up new nodes with its algorithmic design.
XDPoS algorithm is environment-friendly, as it does not require high energy for the staking of XDC tokens. This is supported by the fact that a typical computer can be utilized for XDC token staking.
XDC Blockchain is quick and flexible. Due to numerous private chains running simultaneously, XDC’s Hybrid Blockchain has achieved transaction rates of up to 2000 TPS on the public chain, with limitless horizontal scaling. Such figures produce a better user experience.
PROVISION FOR REGULATORY NODES
If a peer node does not want to partake in the consensus but still wants to stay in the network, they can act as “regulatory nodes.” These nodes don’t really have access to the complete blockchain data strand. The Hybrid Blockchain architecture of the XDC Network enables the operation of regulatory nodes in an efficient way.
CAN YOU STAKE XDC NETWORK
If you already own XDC coins and would like to earn more XDC coins, you can do so by staking XDC as a network member (Masternode). As a Masternode, you can earn XDC rewards on the network.
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