TheDinarian
News • Business • Investing & Finance
What is the XDC Network?
February 09, 2023
post photo preview

The XDC Network (XDC) is an enterprise-ready, open-source, hybrid blockchain protocol specializing in tokenization for real-world decentralized finance. The company behind the technology, XinFin Fintech, created the XDC Network in 2017. The network is currently governed by the XDC Foundation, a non-profit entity incorporated to support the growth, development, and adoption of the XDC Network through community-driven efforts.

The XDC Network is designed to support a wide range of novel blockchain use cases by offering interoperable smart contracts, near-zero-fee transactions, and high security. XDC Network supports all EVM-compatible smart contracts, protocols, and atomic cross-chain token transfers. It also fully complies with the ISO-20022 message standard and its applications in trade finance and other payment sectors.

This innovation has resulted in the world’s first NFT (as a single XRC20 token) backed by trade finance assets being deployed on XDC Network in September 2021. The NFT was created by Tradeteq, a member of the World Economic Forum: Global Innovators Community, alongside Accelerated Payments, an invoice financing company, as the asset originator. Despite being a token, the asset is still compatible with trade finance industry messaging standards and demonstrates how trade finance assets could be made available through blockchain-based systems to those interested in this lower-risk investment sector.

XDC Network’s capabilities in enterprise applications, and specifically trade finance, garnered the attention of the broader global trade industry. In 2021, TFD Initiative, DNI Initiative, and the International Trade & Forfaiting Association selected XDC Network as their first blockchain member.

For developers looking to set up their projects on the XDC Network, it offers a no-code token creation app, known as Origin, as well as software development kits to assist developers in building on XDC Network. Being an EVM-compatible network, developers on other networks can seamlessly create or port over their EVM projects. Ordinary users can learn XDC concepts in the complimentary XDC Basics of Blockchain Workshops, consisting of 2 partsPart 1 — Fundamental Concepts and Part 2 — Advanced Concepts. Conversations on XDC’s development are actively held on XDC.dev, a community for blockchain developers. It acts as one of the resource centers for blockchain engineers, including a knowledge base, tools, and support.

While the current XDC Network runs on a Distributed Proof-of-Stake (DPoS) consensus algorithm, a novel consensus engine developed exclusively for XDC, XDPoS 2.0, has been released in testnet. This upgrade, which is entirely backward-compatible in terms of APIs and is based on the latest Byzantine Fault Tolerance consensus mechanisms, maintains the security and performance of the XDC Network, while minimizing the amount of resources required to operate. Additionally,  the new consensus layer will serve as the foundation for the next phase of XDC Network’s future development. 

As of 1st June 2022, XDC Network celebrated three years of achievements since the launch of its mainnet back in 2019. The network has seen upwards of 372M transactions and the creation of over 865,576 accounts, with more than 12,400 smart contracts deployed on the network. Currently, the native XDC token has a market cap of $500M and a fully diluted valuation (FDV) of $1.54B. The circulating supply of XDC is ~13.81 B out of a total of 37.81B tokens. You can check out the list of exchanges to trade XDC on CoinGecko

The XDC community continues to expand and develop projects centered on NFTs, the metaverse, financial enterprise applications, and DeFi — all on XDC. The XDC token is listed on over 40 exchanges, including several top exchanges such as Kucoin and Huobi, with more than 20 wallets supporting native XDC and XRC20 tokens, including custodial wallets such as Fireblocks, Propine, Copper, and Bitpanda. With easy-to-use tools such as Origin for token creation, XinFin Remix. The welcoming environment for new projects on the XDC Network has contributed to the ecosystem's rapid growth. With so many assets currently available on the network, you can head over to the XDC Ecosystem category on CoinGecko to check them out. 

Assets on XDC Network

StorX Network

StorX (SRX) is an open-source trustless, censorship-resistant decentralized cloud storage network. StorX empowers users to store their data securely in a decentralized manner.

Comtech Gold

The Comtech Gold token (CGO) is a stable asset pegged to the price of one gram of pure gold, which is fully backed and redeemable for physical gold. Comtech is registered in the UAE and complies with Shariah principles. 

Plugin

Plugin (PLI) is a decentralized oracle platform that provides cost-effective solutions to any smart contract. The plugin enables the smart contract to connect to real-time data off-chain. The data feeds are trustable and maintained with high security. 

Law Blocks

Law Blocks (LBT) has launched an application for digitally transforming how organizations or people prepare, e-sign, act on, and manage agreements using blockchain technology. The platform is free to use, allowing users to upload their contracts to the Law Blocks platform, e-sign documents cryptographically, and store them on XDC Blockchain Network. 

XSwap Protocol

XSwap protocol (XSP) is an automated market maker for XRC20 tokens built on the Xinfin Network. XSWAP is focused on building the challenger to BSC-based PancakeSwap and Ethereum-based Uniswap. Its primary focus is to empower crypto enthusiasts with secure, fast, and resource-efficient instruments for exchanging digital assets.

Prime Numbers

Prime Numbers (PRNT) is an ecosystem composed of various DEFI and NFT protocols that generate revenue for its community from the Primeport.xyz NFT marketplace and the first lending and borrowing protocol on the XDC blockchain.

Globiance (GBEX)

Globiance (GBEX) is a fintech platform with a centralized exchange, banking services, payment gateways, stablecoins, and a decentralized marketplace. It offers fully-regulated services for corporate and retail customers in several countries on five continents, integrating crypto solutions into the traditional banking system.

Datachain Foundation

Datachain Foundation (DC) was launched on September 3, 2017, by BRAINCITIES LAB, a software editor based in Paris, France. The Datachain Foundation is a distributed data management platform that enables developers to build decentralized networks of AI-augmented objects and infrastructures like public lights or roads.

STASIS EURO 

STASIS (EURS) is a revolutionary step towards combining the vast potential of the cryptocurrency market with the stability and reliability of traditional currencies. The tokenized assets EURS are always backed 1:1 by collateral held in reserve accounts.

US+ Stablecoin

Fluent Finance Inc. is a U.S. blockchain development and fintech company that bridges traditional and digital assets with US+. US+ includes real-time audits, smart contracts and maintains a 1:1 ratio with the U.S. Dollar.

Projects Built on XDC Network

Besides the large variety of tokens on the XDC Network, several noteworthy projects are also making use of the network’s powerful technology, allowing users to access various options.

Impel

Impel, a fintech platform that uses blockchain technology to deliver financial messages and payments, has developed the R3 Corda bridge to connect future-facing banks and institutions to the XDC Network.

LedgerMail

LedgerMail combines the power of blockchain, XDPoS consensus, cryptographic algorithms, and zero-trust mechanisms to provide a decentralized email service.

Metabloqs

In a metaverse powered by XDC Network, users can roam around the virtual world of Metabloqs and engage in various activities such as picking up new skills, networking, or playing exciting games. By creating a unique ecosystem, Metabloqs is creating a world where users can create and monetize their experiences using their own native utility token.

Blockdegree

Blockdegree provides online blockchain training to engineers and professionals. Users can explore a variety of basic and advanced courses from Blockdegree to begin their journey as a developer on XDC. 

Go Domains

GoDomains is a decentralized name service solution offered by Go Domains that enables you to easily generate collectible self-owned unique public addresses. With a catchy domain name and a cryptocurrency-focused domain extension, Go Domains can be used to replace your lengthy wallet addresses.

XDC Web3 Domains

Similarly, XDC Web3 Domains allows user to build their identities by owning a .xdc domain. NFT domains can not not only be used to identify wallets but also function as web addresses.

Chainfiles

ChainFiles aims to be an online notarization service powered by blockchain technology. Digital notarization is one of blockchain technology's best use cases because of its immutable nature and timestamping accuracy.

TradeFinex

TradeFinex.org is a P2P trade finance platform to create trade instruments of value between buyers and sellers in the Trade Finance market. It is an open protocol for banks, institutions and users consortium-led governance making it truly decentralized.

XinFin Name Service

XinFin Name Services is a domain name service for the XDC Blockchain. Mint your blockchain domains as NFT assets that will bind the domain to your wallet address.

Mateico

Mateico is a platform that combines art, culture, investments, and charity. The Mateico ecosystem will bring about innovative solutions based on blockchain technology, virtual reality, and augmented reality, with features and services that will help artists and creators.

NFT Platforms on XDC Network

Primeport is the only NFT marketplace that allows users to trade all the NFTs in the XDC network. On the other hand, XDCNFT and XDSea allow users to trade NFTs from their respective marketplaces on the XDC network.

Launchpads on XDC Network

There are two launchpads available for the new projects built on the XDC network, namely XSwap Launchpad and Globiance Launchpad

Other XDC Network Utilities

The XDC token acts as a settlement mechanism for dApps built on top of it, adding further utility to the XDC Network.

Travala

As one of the few travel-booking portals which accept crypto assets, Travala also accepts XDC as payment for booking hotel rooms and flight tickets.

Guarda Visa Card 

Get your own Prepaid Visa Card by Guarda. Top it up using your XDC crypto and use it as a regular bank card anywhere in the world, and easily spend XDC. Guarda Visa card is available as a virtual or physical card.

Cyclebit

Cyclebit is a tool for retailers to accept digital payments in-store, online, or on the go. Any product can be paid for using $XDC tokens, with the whole transaction taking just a few seconds.

XcelTrip

XcelTrip is with the intent to disrupt the travel industry, and XcelTrip users can pay for their travel needs using XDC tokens.

These are just a few of the many projects building on XDC, and there will be many more as the XDC Network continues to expand. The XDC Network ecosystem is constantly growing and expanding, with new projects and partnerships being added to it. This helps to drive innovation, increase adoption, and strengthen the overall network.

Link

community logo
Join the TheDinarian Community
To read more articles like this, sign up and join my community today
0
What else you may like…
Videos
Podcasts
Posts
Articles
🚨 After Years of Building Around Proof of Stake, Is It Time to Explore Alternatives! 🚨

As blockchain networks evolve, some are questioning whether proof-of-stake (PoS) remains the optimal consensus mechanism. Stellar offers a compelling alternative with its Proof of Agreement model, designed for simplicity and performance.

🔑 Key Details:

🔹 Proof of Agreement (PoA): @StellarOrg's consensus mechanism emphasizes fast finality and low-cost transactions without relying on additional layers.

🔹 Efficiency Focus: Unlike PoS, PoA achieves consensus through a decentralized network of trusted validators, enabling rapid and energy-efficient operations.

🔹 Scalability: Stellar's model is tailored for high transaction throughput, making it ideal for #payments and other real-world applications.

🔹 Decentralization: PoA balances #decentralization with performance, offering a flexible trust model compared to more centralized systems.

💡 Why This Matters:

🔹 Performance-Driven Design: As networks prioritize speed and cost efficiency, simpler consensus mechanisms like ...

00:00:50
🚁 Flying Taxis Are Here: China Just Made It Real! 🌏

For years, flying taxis have been the stuff of sci-fi movies, futuristic concepts, and flashy tech demos. Many of us dismissed them as mere publicity stunts or overly ambitious dreams that would never take off—literally.

But now, China has flipped the script.

The Civil Aviation Administration of China (CAAC) has officially granted approval for two companies—EHang Holdings and Hefei Heyi Aviation—to operate autonomous passenger drones commercially. That’s right: flying taxis are no longer a concept. They’re a reality.

What Does This Mean?

This milestone marks a bold leap forward in urban transportation. China is not just experimenting with this technology; they’re integrating it into their infrastructure and economy, signaling serious intent to lead the world in aerial mobility innovation.

Here’s what makes this development so groundbreaking:

Commercial Operations Begin: EHang and Heyi Aviation will offer passenger flights in cities like Guangzhou and Hefei, starting with urban sightseeing ...

00:00:31
👀 NVIDIA has partnered with Hedera Hashgraph 👀

NVIDIA has partnered with Hedera Hashgraph through EQTY Labs to develop Verifiable Compute, a groundbreaking solution aimed at enhancing trust and security in artificial intelligence (AI) systems. This collaboration leverages Hedera’s blockchain technology, particularly the Hedera Consensus Service (HCS), to create a tamper-proof ledger for logging AI computations performed on NVIDIA GPUs and Intel CPUs.

Key Features of the Partnership:

AI Governance and Auditing: Verifiable Compute introduces cryptographic certificates that oversee and audit AI workflows, ensuring transparency, accountability, and security in AI operations.

Immutable Record-Keeping: Using Hedera's decentralized ledger, every AI computation is logged with a timestamp, creating an auditable trail that is resistant to tampering.

Hardware Integration: The solution anchors trust directly in the silicon of next-generation NVIDIA and Intel hardware, combining advanced cryptography with blockchain technology to secure AI ...

00:01:43
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading
What @grok Thinks Of Veritaseum Smart Metal 🤖✍️

What @grok thinks of Veritaseum Smartmetal value/price (LLM AI does not necessarily represent my opinions & they make mistakes)

https://x.com/ReggieMiddleton/status/1907531439102378443

SEC Lawyers Terminated? 💥 Got $Veri Smart Metal?

SEC Roundtables, Peirce Speech, Custodia Patent, VERI SmartMetal Unboxings

Substack Article with links to all Content in the Video

X throttles posts with external links so I will link these in the comments below.

Source: https://x.com/SovereignRiz/status/1907427453124895221?t=sn-9t9dpnSm3tvxujBsmeg&s=19

Blackrock Wins UK Crypto Approval With Razor-Sharp Focus on Institutional Play 👀

Blackrock’s FCA approval to support a crypto ETP marks a breakthrough for institutional adoption in the UK, unlocking new pathways into regulated digital asset exposure.

UK’s FCA Clears Blackrock as Arranger for Crypto ETP, Marking Major Institutional Shift

Blackrock International Ltd., part of global investment firm Blackrock, has officially received registration as a digital asset business with the UK’s Financial Conduct Authority (FCA), according to the regulator’s website. The approval, dated April 1, grants the entity a narrowly scoped role under the FCA’s oversight, with operations strictly confined to activities on behalf of one client—Ishares Digital Assets AG. The FCA confirmed:

Blackrock International Limited have been appointed as an arranger for their only customer, Ishares Digital Assets AG, who issue exchange traded products (ETPs).

As detailed on the FCA website, Blackrock is permitted to carry out only a small set of arranging services. These activities are directly ...

post photo preview
BlackRock’s Fink pumps tokenization in annual letter

Larry Fink, CEO and Chairman of the world’s largest asset manager BlackRock, touched on three blockchain related topics in this year’s annual letter. The first part of his letter was about how private markets have been out of reach for most investors and BlackRock is in the process of changing that. For the same reason, the digital assets sector often sees private assets as low hanging fruit for tokenization, as illustrated in this State Street survey.

Later he moved on to tokenization, highlighting how fractionalization can democratize access. Finally he referenced Bitcoin. On the one hand, BlackRock manages the largest Bitcoin ETF. However, his concern is more about getting control over the United States’ government debt.

“Decentralized finance is an extraordinary innovation. It makes markets faster, cheaper, and more transparent. Yet that same innovation could undermine America’s economic advantage if investors begin seeing Bitcoin as a safer bet than the dollar,” he wrote.

He also shared that half of the demand for the Bitcoin ETF has been retail, and three quarters of those investors are new to iShares ETFs.

Private assets and tokenization

On the tokenization front, Mr Fink noted that the “world’s money moves through plumbing built when trading floors still shouted orders and fax machines felt revolutionary.” He was less than complimentary about payments network SWIFT saying it was like routing emails through a post office. SWIFT currently dominates cross border payments, which are seen as a major real world use case for stablecoins. And it’s worth remembering that BlackRock looks after most of the reserve assets for the second largest stablecoin issuer, Circle.

He is bullish on tokenization because he sees it as democratizing access, shareholder voting and yield. The access is because tokenization enables fractionalization, lowering the barrier to entry. Even for relatively wealthy people, lower investment amounts will allow them to diversify their investment. Of course, people can vote already, but blockchain can potentially make it easier. He had one caveat about tokenization 👉 the need for digital identity.

Despite BlackRock managing the largest Bitcoin ETF, there was a striking omission in Fink’s projections for the future of investing: cryptocurrency itself. While he outlined a shift from the traditional 60:40 split between stocks and bonds toward a 50:30:20 allocation (stocks, bonds, and private assets), cryptocurrency doesn’t fit neatly into any of these categories.

Fink acknowledged that 20% of investments already exist in private assets, currently accessible primarily to institutional investors. And he highlighted how BlackRock plans to democratize access to these investments, including infrastructure and real estate. Potentially, that could include tokenization. Yet the absence of cryptocurrency in this long-term investment framework is notable, given BlackRock’s current role as a crypto asset manager.

Source

🙏 Support My Work 🙏

If you find value in my content, consider showing your support:

💳 PayPal – Just scan the QR code 📲
🔗 Crypto – Send contributions via Coinbase Wallet to: Dinarian.cb.id

Your generosity keeps this mission alive! Namasté 🙏✨ #SupportIndependentMedia #Crypto

 

Read full Article
post photo preview
Japanese banking giant SMBC plans Avalanche stablecoin – report

Sumitomo Mitsui Financial Group, the parent of Japan’s second largest bank SMBC, is planning to issue a stablecoin. It’s collaborating with Ava Labs, the founder of the Avalanche blockchain, as well as Fireblocks, according to a report from the Nikkei.

The bank will work with Japanese IT firm TIS and plans to conduct experiments in Q4 of this year or 2026 Q1, with a live issuance during the following year.

One of the primary use cases is to enable corporates to move money around the world instantly and 24/7, sidestepping Swift. While Swift payments should in theory be almost instant, in reality they tend to be delayed by foreign banks that have different opening hours and rely on the receiving bank crediting the recipient promptly. Additional intermediary banks are often involved, which are not necessary with stablecoins.

Other big US banks are already targeting this use case. JP Morgan has its Kinexys Digital Payments (formerly JPM Coin), a blockchain based bank account. And Citi launched its Citi Token Services. Both use permissioned blockchains.

While Avalanche is a permissionless blockchain, it supports permissioned chains as subnets. For example, its Spruce testnet has institutions as validators. Hence, it remains to be seen which path SMBC adopts.

SMBC’s other blockchain initiatives

Meanwhile, SMBC is also one of the backers of Progmat, the Japanese tokenization platform. It has a stablecoin issuance platform, Progmat Coin. SMBC joined the other big three Japanese banks, MUFG and Mizuho, in an ongoing stablecoin sandwich trial referred to as Project Pax.

A stablecoin sandwich refers to a situation where a stablecoin sits at the heart of a transaction, but it may look like a normal payment to the sender and recipient. The three banks plan for their clients to make trade payments in the usual way, and to use Swift messages. However, stablecoins will replace correspondent banks.

Two years ago, our sources told us that SMBC had joined Partior, the cross border blockchain payment system co-founded by DBS, JP Morgan and Temasek. Partior combines a permissioned blockchain with correspondent banking, removing the typical delays and enabling instant cross border payments. SMBC has not yet confirmed it will participate in Partior. However, the other bank we reported simultaneously – Deutsche Bank – recently said it invested in Partior, highlighting the accuracy of the report.

Hence, SMBC is adopting a multipronged approach to speed up cross border payments using blockchain.

Source

🙏 Support My Work 🙏

If you find value in my content, consider showing your support:

💳 PayPal – Just scan the QR code 📲
🔗 Crypto – Send contributions via Coinbase Wallet to: Dinarian.cb.id

Your generosity keeps this mission alive! Namasté 🙏✨ #SupportIndependentMedia #Crypto

 

Read full Article
post photo preview
Hashgraph to launch permissioned DLT, HashSphere

Hashgraph (formerly Swirlds Labs), the founder of the Hedera Hashgraph distributed ledger, is expecting to launch a permissioned DLT, HashSphere, in Q3. One of the current beta testers is Australia Payments Plus, which operates key Australian payment infrastructures and is a long standing governing council member of Hedera.

The DLT company sees a gap with the current permissionless and permissioned offerings. On the one hand, the challenge with permissionless chains for institutions is the need to repeat KYC and compliance steps that their clients have already done internally. Additionally, institutions want greater privacy and control. At the same time, many are looking for a path to interoperability with the permissionless world and stablecoins, an area where HashSphere is positioned as a good example.

There was much excitement when Australia’s eftpos joined Hedera years ago, with the hope of bringing regulated payments to DLT. Eftpos merged with other Australian payment infrastructures which are part of Australia Payment Plus. With stablecoins now on the cusp of going mainstream, perhaps that time has come. Hedera developed various solutions to make onboarding with stablecoins simple. Filipino banks plan to launch the PHPX stablecoin on Hedera this year.

Rob Allen from Australia Payment Plus commented, “As a Hedera Governing Council member, we are interested in HashSphere primarily for its enhanced privacy and regulatory compliance, while also needing network interoperability for the seamless and transparent interchange of stablecoins between public Hedera and private HashSphere, and other Layer1 protocols.”

HashSphere versus incumbent permissioned chains

The arguments about compliance, privacy and control are for those firms not comfortable with permissionless chains. But without additional details (which we don’t have yet), it’s less clear how HashSphere will compete with the existing permissioned chains, although we can make some guesses.

Hyperledger Besu is currently doing well in the institutional space because it offers a path to integration with the Ethereum mainnet. HashSphere can potentially compete because of its EVM (Ethereum) compatible smart contracts. Assuming HashSphere performs similarly to Hedera, it will have a speed and scalability performance advantage over Besu. HashSphere will use many of the features of Hedera, including its consensus, token service and the Ethereum compatible smart contract service.

However, both Besu and HashSphere have a disadvantage compared to some of the other permissioned DLTs on privacy. Canton and Corda were both designed as privacy first and only share data with those that need to know. It’s unclear whether HashSphere takes this approach, but we suspect not. So the options for Besu and HashSphere is Zero Knowledge Proofs or something similar. While that’s progressing, there is no definitive solution so far. For example, Brazil’s central bank wants to go this route with Besu, but is waiting for a solution that is good enough.

Digital Asset will argue that the Canton Network is permissionless, although we consider it a work in progress. We classify public Hedera as partially permissioned because the nodes with write permissions are still controlled by governing council members, although that is evolving. However, all transactions are viewable by anyone.

Hashgraph returns to its roots

In many ways, for Hashgraph this is a return to its roots. Hashgraph was previously known as Swirlds Labs, which started out with a permissioned ledger, including partnering with credit union startup CULedger in 2018. However, at the time Swirlds’ solution was not compatible with other technologies, whereas the Ethereum compatible smart contracts make it more open.

The news comes as the enterprise world seemed to be coalescing around three DLTs: the Ethereum compatible Hyperledger Besu blockchain, Digital Asset’s Canton, and R3’s Corda. Yet in the past week we’ve seen two new permissioned distributed ledgers, the other being Google Cloud’s Universal Ledger. On the one hand, fewer options make for simpler choices. But competition will keep the leading three on their toes.

Source

🙏 Support My Work 🙏

If you find value in my content, consider showing your support:

💳 PayPal – Just scan the QR code 📲
🔗 Crypto – Send contributions via Coinbase Wallet to: Dinarian.cb.id

Your generosity keeps this mission alive! Namasté 🙏✨ #SupportIndependentMedia #Crypto

 

Read full Article
See More
Available on mobile and TV devices
google store google store app store app store
google store google store app tv store app tv store amazon store amazon store roku store roku store
Powered by Locals