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- 1 XinFin Network is an enterprise-ready hybrid blockchain that supports smart contracts, high transaction speed, and KYC for Masternodes.
- 2 This platform was founded in 2017 by Ritesh Kakkad, Atul Khekade and Karan Bhardwaj, who are experienced tech entrepreneurs and programmers.
XinFin Network (XDC) is an enterprise-ready hybrid blockchain technology company focused on international trade and finance. It operates on the XDC protocol, which supports smart contracts, offers high transaction throughput (2000TPS), and fast transaction times (2 seconds), and implements KYC for Masternodes (Validator Nodes). The XinFin network seeks to develop a admiringly scalable, secure, permissioned, and commercially practicable blockchain network. Its native coin, XDC, acts as the power for the XinFin ecosystem.
Founders Of XinFin Network (XDC)
XinFin was founded in 2017 and is based in Singapore. The platform’s founders were Ritesh Kakkad, Atul Khekade, & Karan Bhardwaj. In 2018, however, Bhardwaj resigned to devote more time to his startup, Elatior Tech.
Use Cases of XinFin Network
XinFin Network and its XDC token have many use cases in the real world. One important application is TradeFinex.org, which helps small and medium-sized businesses or institutions create digital, structured financial requirements. It allows them to share their financial needs with banks or non-bank funders using a common distribution standard.
XinFin Foundation, a non-profit organization linked to XinFin Network, works with global governments to solve the infrastructure funding gap by using blockchain technology. XinFin aims to connect investors and developers securely, allowing them to finance infrastructure projects with digital assets. The XDC token is used as a payment method for various DApps built on the XinFin Hybrid Blockchain, such as MyContract, Kramaa, Land Registry, iFactor, Blockdegree, and TurantPay.
Features of XinFin Network
XDC is a layer 1 blockchain that can work with the global standard for payment messages, ISO 20022, making it easy for developers and financial institutions to build applications on it. It also has an app called XDCPay, which is a web extension that works with some popular browsers and claims to make it easier for investors and businesses to use the blockchain.
XDC aims to solve the problems that older blockchain networks had: slow network speed, very high fees, and a hard time for developers. The platform also supports smart contracts, so developers can create apps and protocols on the blockchain.
It lets developers create layer 2 digital assets (using Origin) and uses sharding to make transactions faster (more than 2000 transactions per second).
The platform is an open-source hybrid blockchain for global trade & finance. It can connect with both public and private blockchains, because of its hybrid design. The system has hybrid relay bridges that send transactions to the public network.
Conclusion
XinFin Network is a promising platform that aims to solve the challenges that older blockchain networks face, such as low network bandwidth, high fees and poor developer experience. It also offers a unique solution for global trade and finance, by enabling secure and efficient transactions between various parties. The platform has a strong team, a vibrant community, and a growing ecosystem of DApps that showcase its potential.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
