What Is the XDC Network?

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2 Jun 2022

An enterprise-grade, EVM-compliant, hybrid blockchain, the XDC Network (formerly known as XinFin Network) is fitted with public and private state and smart interoperability contracts.

Ethereum and J.P. Morgan's (now ConsenSys) Quorum, the XDC Network uses a delegated proof of stake (dPoS) method that allows enabling two transaction times, minimal gas prices, and more than 2,000 transactions per sec (TPS).

Validators must complete a tiny proof of work (PoW) when suggesting a new block, making the network very resistant to spamming, despite the consensus process being proof-of-stake, which takes almost minimal energy.

Since about April 11th this year, there seem to be 203 applicants for masternodes, of which 108 serve as validators (masternodes) and the rest as backup validators (validators on standby).

A node operator must deposit 10 million XDC and provide a KYC document to operate a node.

The XDC Network's transactions & smart contracts run on XDC, and XDC is the fuel that powers those transactions. Furthermore, the network's safety and security are maintained since users should stake their XDC to operate validators and take part in block creation.

Future revisions of the XDC Network will add a new "judiciary branch" to the consensus method, making it even more secure.

To ensure unprecedented Byzantine fault tolerance (BFT), XDC Foundation's senior advisors, Princeton University's Pramod Viswanath and Hash Laboratories' Fisher Yu and his team developed cutting-edge compliance technology that holds validators accountable for their actions on an automated but discretionary basis.

In the wake of a dramatic climb from the depths in 2019, the XDC Network (XDC) has become one of the most talked-about blockchain initiatives. The XDC blockchain, according to Coinpaprika.com, is "based upon the concept of consortium blockchains." Private/permissioned blockchains and public blockchains have different architectures.

To put it simply, XDC is an interoperable, hybrid blockchain that incorporates both public and private states. This means that the underlying cryptocurrency isn't merely one of the most affordable; it also has the technological substance to support speculation.

Prospective investors should only consider a small amount of XDC since the currency may yet fall lower. The stock's 77% decline from its high value is significant, but there's more volatility to come. It gained nearly 300X between August 2019 and August 2021.