XDC Network XDC Price

What is XDC Network (XDC)?

The XDC Network is a blockchain platform designed for enterprise-level applications and decentralized finance (DeFi). It operates on a hybrid architecture, which combines features of both public and private blockchains, enabling it to support a wide range of use cases. XDC is built on the Ethereum Virtual Machine (EVM), making it compatible with Ethereum-based applications and smart contracts. As of 2024, the network boasts a transaction throughput of over 2,000 transactions per second (TPS) with low latency and near-zero transaction fees, making it highly efficient for developers and users alike.

Who are the Founders of XDC Network?

The XDC Network was co-founded by a team of blockchain enthusiasts and experts, including Atul Khekade, Dr. Anup Kumar, and Shiv Kumar. They aimed to create a platform that bridges the gap between traditional finance and blockchain technology while providing a seamless user experience. The team has extensive experience in technology, finance, and blockchain, which has contributed to the network's innovative approach and rapid growth since its inception.

How does XDC Network Work?

XDC Network employs a unique consensus mechanism known as Delegated Proof of Stake (DPoS), allowing users to delegate their voting power to trusted validators. This mechanism enhances security and scalability while ensuring fast transaction confirmations. The network's hybrid model allows for the creation of both public and private chains, catering to enterprises that require privacy alongside transparency. By utilizing smart contracts, developers can create decentralized applications (dApps) that can interact with the XDC blockchain seamlessly.

Key Features of XDC Network

• Interoperability: XDC supports cross-chain interactions, enabling assets and data to flow between different blockchains.
• Smart Contracts: Developers can create robust dApps using Solidity, the same programming language used in Ethereum.
• Low Costs: Transaction fees are significantly lower than those on Ethereum, making it cost-effective for users.

Top Use Cases of XDC Network

The XDC Network has various practical applications across different sectors:

• Supply Chain Management: XDC can enhance transparency and traceability in supply chains, enabling stakeholders to track products from origin to delivery.
• Trade Finance: The network facilitates secure and efficient trade financing solutions by streamlining processes and reducing fraud risks.
• Tokenization of Assets: XDC allows for the tokenization of real-world assets, such as real estate and commodities, enabling fractional ownership and easier trading.
• Decentralized Finance (DeFi): The platform supports various DeFi applications, including lending, borrowing, and yield farming, providing users with access to innovative financial services.

How to Keep your XDC Network Safe?

Ensuring the security of your XDC assets is crucial. Here are some best practices to follow:

• Use Hardware Wallets: Store your XDC tokens in hardware wallets, which provide offline storage and enhanced security against hacks.
• Enable Two-Factor Authentication (2FA): When using exchanges or wallets, enable 2FA to add an extra layer of security to your accounts.
• Keep Software Updated: Regularly update your wallet software and devices to protect against vulnerabilities.
• Beware of Phishing: Always verify URLs and be cautious of unsolicited communications requesting your private keys or sensitive information.